Bad US coin buys

It's one thing to call something a bad investment or say it has no future potential, most people will likely agree. Calling things lousy or bad just sounds judgey though like their collection isn't good enough to be liked. That's why you're catching flak over how you said it. Aside from being distasteful unless your last name is Pogue or something along those lines there will always be a collection that blows whatever you have out of the water which makes judging the quality of others even sillier

 

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In my opinion, the only coins I've bought so far that have been "bad buys" are problem coins that I didn't realize at the time were indeed problem coins. I'm talking about coins that were dipped and sold as AU but were actually EF. Other than that, my primary purpose in collecting is to enjoy the coins and learn about the history of what was happening when they were made. If someday they make my relatives some money then that is a bonus.

 

The old man used to tell me that no matter how big and bad you are, there's always someone out there bigger and badder.........

 

I was talking in general about the collector-investor distinction, but I also got the impression from others I'm more of an investor which didn't vibe with me. To me these things are inseparable for a lot of collectors, including me. I didn't intend to insult anyone but I see what you're saying. Maybe it spiced things up too much. My apologies

 

Good point. Your style of collecting is a good way to go. I've had some terrible buys of coins early on and learned the hard way not to buy dark toned coins even though a coin has great details (since they turned out upon closer inspection to be harshly cleaned)

 

Dark toning does not necessarily mean the coin has been cleaned. Stay away from black toning, since that's beyond "toning" and well into "environmental damage" or "corrosion," but brown can be alright. You just need to make sure the luster is intact. Here's an example:

 

Yeah, I agree. I once paid 80 for a barber half that had AU details but was virtually black. Upon closer inspection I saw signs of harsh cleaning. I took it to a shop and was told it is worth 10-15. Unless the pic is very clear, like yours, I won't buy a dark one again online. I've never seen a coin that brown color, by the way. Very interesting and pleasant.

 

Very wise advice from the old man

 

Cool - good way to reduce my competition when it comes to large cents. Now if we could just get more auctions on the good stuff. I did bid on a few of the lost dutchman's coins - but lost. At the prices they went at I would not be surprised if they get relisted at higher prices.

Of course you last two sentences is what collecting is about.

 

I guess it's all speculation. I'd assume that large cents will only appreciate, especially the problem free stuff, because they only get older as time moves on and there's a strong group dedicated to them. Maybe Jefferson nickels one day will be sought after, too

 

Except for the coins preferred today, not in the lifetime of anyone reading this topic. They are far too common to sell above nominal prices. By preferred, I am referring to current in vogue specializations such as toning, FS, "grade rarities" and a very limited number of die varieties. The series is near the bottom of the preference scale and it isn't by random chance.

As for large cents, they may appreciate but I doubt most will much in constant value as they have in the past. In 1975, my step grandmother gave me an 1803 large cent that was a VG by contemporary grading standards. The retail (Red Book) value was $10 which is what I received for it in a trade. In the last few years when I checked the Heritage archives, graded examples were selling for $100 to $300, depending upon variety. This coin and all other early large cents are a lot less affordable to most collectors now than they were in the past.

 

Yes. Don't buy any 30s or 40s 65FB/66FB Mercs. They are worthless and you should not buy them. More for me to buy at a better price!

Seriously though, I just don't understand OPs point at all. I think 66FB Mercs from the late 30s and the 40s are an absolute steal. They are gorgeous and most of the common dates will run you around 50 bucks. Pretty gem Mercury Dimes are really easy to move and I don't foresee that changing in the future.

In contrast, most Mercury dimes from the teens and 20's in 63 and 64 are flat out ugly. Poor luster, black spotting, poor strike on the lettering even if they are FB. They are really hard to move. Yes, there are exceptions, but the prices reflect that. If you want a pretty Merc in a decent grade from this period that will hold its value and be easy to sell, be prepared to shell out multiple thousands.

I bought the coin below for $50. What a ripoff!

 

Sure!!! Of course you're right. All we have to do is keep chasing people out of the hobby by being so exclusionary. Tell all the newbies their collections yare worthless junk and it will become a self fullfilling prophesy.

We had an opportunity to get a whole new generation of collectors with the states quarters but this opportunity was largely squandered by telling them anything they found in circulartion was just junk and they should buy real coins like New Jersey coppers amnd ZAR issues.

Now we will reap the results of what we failed to sew. Most new collectors will be in foreign countries and the entire US market will languish as baby boomers try to sell their collections into saturated markets.

The modern bashers appear to have won the war after losing every battle but it was a phyrric victory.

 

I think the only war the modern bashers won was on coin forums. The modern market isn't great right now but aside from the top 1 percent of coins what really is? They certainly may have won some battles and turned some people off of moderns but for the most part I think modern collectors just went quiet and got tired of arguing why moderns could be worth something.

On the same subject I have never understood the whole it "has to have silver to be worth collecting" mindset. If you buy a coin worth a few hundred dollars who really cares about a couple bucks of silver in it? If the bottom falls out of it so badly all that is left is the melt value no one will say "Thankfully its silver so I can still get 10 dollars for my 400 dollar purchase"

 

I think what you are asking is just way too common if a question. For some they love these you called it too common and or they are ugly or even just Why!!! But for others like us even they are common or so much of them is because that is what they or us like. That is why there so many varieties of coins out there because there are many who collect these kinds of coins. As for Mercury to me that is one of the best design coins out there and with the coins they are producing these days which a lot of them are very ugly. You can't make others like what you like and that is why we have such of varieties of collectors out there. If you don't like it then move to somethings that interest you.

 

Gimme some nice concentric toning with beaming lustre and i will purchase just about any series......

 

What you say is true but there's just too many of them for it to be a sensible buy IMO. You will be lucky to sell it for the same amount in 1, 3, even 5 years from now.

 

Not everyone buys things solely to make a profit

 

True too. Just mentioned breaking even though, which probably is hard with most coins anyhow

 

If you enjoy something for years that is more than worth it regardless of the resale price. The enjoyment is worth more than just staring at a pile of cash, no different then seeing a movie or going on vacation ect where the return is the enjoyment but with coins at least you get something back.

It's one thing to make a thread about future return potential but saying things aren't sensible to buy is cutting to close to telling people how they should collect. If they like it that's all that matters