[CLOSED] Contest - Share the most Valuable Piece of Collecting Advice you Can!

Discussion in 'Contests' started by physics-fan3.14, Sep 25, 2021.

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  1. capthank

    capthank Well-Known Member

    It's a hobby. Join a club and have fun collecting what you like.
     
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  3. Mountain Man

    Mountain Man Supporter! Supporter

    No winners yet? I await with bated breath. LOL
     
  4. mrweaseluv

    mrweaseluv Supporter! Supporter

    This is easy.... Buy what you "LIKE"! It's your collection, there is no right or wrong way to collect. I do however have to add the 2nd half, or rule 2... Do your research!! Know what your buying, know the value and grades so you don't get scammed :D Other then that pretty much anything goes as long as it make YOU happy :D
     
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  5. Phil's Coins

    Phil's Coins Well-Known Member

    I started when I was 13 and would save the SLQ's my grandfather would give me every Saturday evening. He alway told me to hold on to what you are given and someday it might be worth something. Later on when I moved to NC I joined my first Coin Club at the invitation of my LCS who was basically respopnsible for me really getting into coins. His advise was always see if you can find something better than what you have, know what it is, what it is worth and if you like it, go for it.
    He saved me LOTS of $$ following that advise.
    May he rest in peace.
    Semper Fi
    Phil
     
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  6. Phil's Coins

    Phil's Coins Well-Known Member

    There are a couple of members at CT should read this and LEARN.
    Great response.
    Semper Fi
    Phil
     
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  7. juris klavins

    juris klavins Well-Known Member

    Attend coin shows in your area to get a feel for the hobby and the various specialties, get to know your local coin dealers there, ask them which other dealers they do business with - choose a few trusted, knowledgeable dealers and develop a relationship with them - you'll gain an invaluable source of information and fair coin prices :happy:
     
    Last edited: Oct 24, 2021
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  8. CREATIVECRHUNTER

    CREATIVECRHUNTER Well-Known Member

    Hello Everyone,

    My advice is to learn new information each day to further your knowledge of the specific segment of coin hunting, collecting, buying, ect. Research your decisions thoroughly before making your final move. Ask for advice and opinions from the experts at hand. Follow reputable people who know all there is to know about what interests you.

    I really like your unique idea for this contest. : )
     
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  9. JeffC

    JeffC Go explore something and think a happy thought!

    Sorry, I can't give any great advice because I'm usually on the receiving end. So - from my level and perspective - the best advice I can give is to WRITE IT DOWN when you come across something here on CoinTalk or elsewhere that is valuable and pertinent. Sure, the really big things you'll remember after reading it just once. But, from just here on CoinTalk, there's a thousand little things that's not easy to remember. I've learned sooooooooo many little things that I need to go back and check "my notes from class." A few examples: Which 1982 cent is the super duper rarest, FB or FT - which applies to which dime, which is the rarest CAM or WAM and which one pertains to which dates, etc., etc. After you write it down, then you've got to organize it. Admittedly, that's the part I'm LOOKING for advice on! LOL.
     
  10. BurrosCoins

    BurrosCoins Active Member

    Newby here. My advice is to find someone that know coins and can help guide you in your new hobby. My Uncle started me with his collection and has been invaluable in helping me learn.
     
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  11. KevinS

    KevinS Junior Member

    Winner in my book!
     
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  12. KevinS

    KevinS Junior Member

    Make an effort to bring others to the hobby. I love giving completed sets in Dansco albums to all the kids in my family.

    Took me 10 years to put the State Quarters sets together and this year they'll all get the 11 year ATB quarter sets.

    Walked into my local coin shop last year and ran into one of the nephews who became quite the collector. Apparently the Silver Eagles I gave his parents to hold for him over the past several Christmases got him interested. We can talk "shop" for hours now at family gatherings. He's learning fast. He got rewarded with a 2019 W quarter set too!
     
    Last edited: Oct 27, 2021
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  13. Zorrbabe

    Zorrbabe Coin shortage of good coins not crappy ones lol

    I have a few different pieces of advice to give out I'm no expert, I don't have the greatest collection, I do study though and I do not ask a bunch of questions on here without doing some leg work first. That's my first tip. Do some research before you just send all your questions on every little thing to coin talk. Like other people's stuff. Comment, pay attention to other collectors work. Care about what other people post. That way when you do have something that you really need help with, the community will not see you as someone who just needs needs needs but never gives any advice likes or comments. Give as much as you take in a community.

    I have a few more tips for beginners, do not go Morgan crazy out the gate. Seen this happen. . Going Morgan crazy is a common pitfall for beginning collectors. They just start buying them like crazy like. This can be a costtky mistake observe observe observe on a coin forum for awhile what types of coins you may be interested in. Like and comment on those items and look them over here and there. Morgan's I think are terrible for beginners. They get counterfeit ones, cleaned ones and all sorts of ones that they don't know are not as valuable as they thought they were when they first got them because they just look at the year.

    There's a big difference between where the coins are minted how many are minted each year and it's very important to look exactly at how many coins are minted at each place at every given year as well as look at how many are graded up high level.

    A coin collector wants to look at how many are at a high level grade so that when they're buying say a said Morgan and they're getting an 1880 and not a lot are minted they need to be beware of scams.

    For buying advice, when you are going to purchase a coin don't be afraid to ask for as many questions and as many pictures as possible. Don't just buy a coin based on one flat picture of the front and one flat picture of the back. If you want that a different angles and at the corners ask for it. If the seller is not accommodating, then keep it moving partner. You want to have close-ups of different parts of the coin to see if there are scratches on it where there has been cleaning possibly done or a lot of the times at a certain angle. You're not going to be able to tell that something would get graded much lower than it would be graded based on one front and one back photo. Anyone can make anything look good according to Blue Ridge Silver Hound on Youtube. I recommend watching him on YouTube(correct me if you disagree) for being able to look at different varieties and errors and put more enjoyment into your hunting. There's more to look for than just silver copper gold and shiny things.

    Cherry picking can be fun if you're into it. So I would suggest getting the Cherry pickers guide book for a beginner as well. Something that you can do without a lot of experience is roll hunt for stairs full steps on nickels. Without a lot of experience you can just look at the back of each coin and using microscope and see if they're stairs and do that pretty quickly you can put them in a pile put all of them with steps that are what you can see and then examine with a microscope later. Any breaks in the steps and it's not worth anything. I have read where even coins as new as 2000 if they are still in good shape can get a few dollars for a nickel with full steps.

    Also, don't overlook the Sacagawea golden coins. Try to get golden dollars when you can at the bank and take a look for those wounded eagles and detailed tail feathers in the 2000p editions as they are something that you can make a lot of money on if you find them.

    Also a high grade anything is valuable at some point. Keep your coins safe, dry and in coin flips that are cardboard. Plastic flips are for short term storage and sales. Do not keep them in there long they can degrade over time.

    I have made some mistakes with the bank that's for sure I annoy my bank a little bit because I roll them up I bring them back they said they're like a credit union so they just stick them in the Federal reserve anyway but I would sit there and put all the golden dollars I didn't want back into the machine and then go back in and get more and that really annoys them so don't dump and go to the same bank find a different bank if you're going to recycle.

    Certain Banks don't honestly care citizens doesn't care as far as they told me that is one of the ones that I know doesn't care. If you build a good relationship with them some banks don't care I've gone in and simply handed them the old rolls I said I'm going roll hunting I want new ones. Not all banks get what you are doing.

    I was just straight up honest about it and after a while they got used to it and deal with me. I don't recommend going with that method however and I would not do it a second time. So that advice right there don't get the coins and dump at the same bank because then you are risking really annoying the bank unless you want to go through a few months of that and then finally they get used to you which you don't trust me LOL. I'm there though and because I wasn't that bright I did do this but I made it past the hump in the middle and now they give me new coins. (Again again again this was a mistake I made don't do it!) Hope that was clear.

    1. You're going to hear there's a coin shortage every time you go into the bank. They told me they ordered me pennies but they never did certain Banks they can only have a certain amount I guess but whether this is all true or not I'm not sure citizens Bank told me that if I paid a fee then they could order 50 cent pieces so that is just something that they said that if you're willing to pay the fee they might order 50 cent pieces but I can't guarantee that they will do that as I haven't done it yet and I don't know what the fee is. I know that they say it cost them money to order boxes from what they told me I have not tried yet to do this so I can't tell you if they will do it they said that they would charge me in order to get a box of 50 cent pieces I can't tell you how that will go yet cuz I haven't done it yet.
    If you are doing coin books and you live on the east coast you're going to have a difficult time finding Denver pennies and Denver pieces of change. If you live on the west coast you're going to find a hard time finding Philadelphia coins. It's good to find somebody that you can trade rolls with from the opposite side of the coast so that you don't have to pay for coin rolls at an exponential rate on eBay. find somebody that you can trust to trade different types of denomination with from somebody of the opposite side of the coast if you're interested in making coin books.

    these are a few pieces of advice that I can give you along the way during my coin collecting adventure in the last year. I hope it helps somebody and gives them some good advice on how to go about collecting coins in a way that is not expensive nor difficult to do.
     
  14. Zorrbabe

    Zorrbabe Coin shortage of good coins not crappy ones lol

    I don't know if mine printed twice. Apologize if it did. It took me a few hours.
     
  15. Dougmeister

    Dougmeister Well-Known Member

    If it's slabbed and you think it's properly graded, you're probably wrong.
    If it's not slabbed and you think it's properly graded, you're definitely wrong.
     
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  16. Zorrbabe

    Zorrbabe Coin shortage of good coins not crappy ones lol

    Yeah I know I totally get that one that's a good piece of advice LOL. I hope I worded mine right, I have to edit it a little bit.
     
  17. Lueds

    Lueds Well-Known Member

    Bumpity Bump
     
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  18. Good Cents

    Good Cents Well-Known Member

    1 - If you have collected other things in the past, then take a few weekends to organize your collections of other things if you want to avoid your living space being featured on the "Hoarders" TV show. This is because no matter how small you start in coin collecting, you will accumulate lots of supplies, accessories, tools, etc.

    2 - If you are compulsive about collecting, invest in some therapeutic counseling before starting coin collecting so that you can maintain some level of control over your collecting. Coin collecting is so multi-faceted that you can get lost in it and if you're not disciplined about it, it can take over your life in a negative way.

    3 - If you have ADHD (Attention Deficit Hyperactivity Disorder), with or without the Hyperactivity, log at least 200 hours of learning before you buy a single coin. Keep a chart of how many hours you have spent learning (reading books, articles, advice on CT, etc.). All the while save lists in a computer or smartphone (NOT on paper!) of the things you would LIKE to buy/own. This is to get around your tendency to buy anything and everything that appeals to you. After 200 hours of learning, figure out how much you can reasonably afford to spend on an enjoyable weekend (based on your income, NOT your savings). That is your 3 month coin budget. Do not spend more than that in the next 3 months on coins and coin supplies. Keep to that budget for every new 3 month period for 2 years. You can sell what you've previously bought in order to add to your budget. After 2 years of learning and budgeting, you will hopefully have enough knowledge and discipline to not lose your life savings while not knowing what you're doing, because you will now know a lot more of what you're doing. You will also have learned a lot more of the ins and outs that apply to your specific interests in the vast world that is coin collecting.

    4 - If you do NOT have ADHD, see #3 above anyway. Coin collecting has a tendency to bring out latent disorders. ;)

    5 - There is no "happy ending" - so enjoy the journey! :)
     
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  19. Zorrbabe

    Zorrbabe Coin shortage of good coins not crappy ones lol

    This is great. I love it
     
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  20. Good Cents

    Good Cents Well-Known Member

    Thank you! :)
     
  21. lordmarcovan

    lordmarcovan Eclectic & Eccentric Moderator

    Bump, to the top, to put this back above some of the closed stuff.

    Hopefully @physics-fan3.14 is just letting it run a while longer, and hasn't forgotten about it. ;)

    (Fine if he does want to let it run a while yet.)
     
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