I started collecting coins maybe five months ago and began buying any coin I saw. Now i realized I have at least 20 slabbed coins that do not belong in my collection. I would like to focus on my Dansco albums for my Morgans/Peace Dollars. Should I sell off the coins I already purchased that do not belong in my collection and take a loss? Sadly I purchased many PF 69 S Clad state quarters and a few presidential dollars. I also have a roll of 2009 S Clad Half dollars, should I sell these individually or as a roll?
If the quarters are in a reputable holder, no problem selling. I'd dump the halves as a roll. You will lose some money, but consider it tuition in your numismatic education.
You may want to try trading what you no longer want with someone who has exactly what you would like. See if there are any coin clubs in your area or perhaps check out the BST on this site. This may help reduce the monetary loss. TC
I think this is a great idea. You might be able to make an exchange that would be more to your liking. I would post them in the Open forum if you want to get rid of them and see what offers you get.
As already noted you probably should just hold on to them for now. The reason is your just starting out in collecting. Eventually you may start thinking differently as to what to and what not to collect. Regardless of what you like now, your ideas may change completely later. Many people do as you did and just grabbed any coin they liked. Some grow out of this and focus on certain types of coins. Others, ME, continue doing as you did and just acquire any oin they see and like. I suspect I'll grow out of this eventually though. I started collecting back in the early 1940 ara and still just buy what I like. I know I'll grow out of this eventually and so will you, MAYBE. The important thing here is don't worry about what coins you should or shouldn't buy. This hobby is a hobby and should be for fun. This means there is no wrong nor right way to collect coins. :smile Therefore do as I do not as I say or is it do as I say not as I do or is it do as you want not as I say or is it....................
This does not address the coins you already have. And you have already decided to focus your collecting. Which is Morgans and peace dollars. If you stick with this I would suggest an overall plan. Like are you going for every date/mint mark? Maybe a shorter range goal of a date set? Then later add in mints. What grade range are you going to accept as normal. Now I collect morgans and don't want to dissuade you from collecting them, but a full set is tough.
Thanks for all the advice thus far. Im planning on VF/XF collection for my Morgan/Peace and of course all dates. Key dates I plan on purchasing slabbed. 1921, 1928, 1934 S for the Peace.
Zach, I did the exact same thing when I got back into collecting 6 months ago. I was buying everything that seemed cool within my budget, and I finally realized this wasn't satisfying, because I wasn't fulfilling goals. So then I decided to collect MS Peace Dollars in a Dansco album. 10 Peace Dollars later, I have now realized that I can stomach the possibility of buyer $400 - $3000 Peace dollars slabbed or raw, and breaking them out and putting them in a Dansco. So I have decided to ditch the Dansco, buy a Lighthouse album, and get my Peaces graded by PCGS. In summary, I think you are on track. But I would caution against going the Dansco route, because while it seems like a good idea at first, you may run into the same problem I have run into.
If you know what you want to collect and have coins with not much interest, I would say sell. Sell and spend what you make on coins that you really need or want for your Danscos. As a beginner, I would recommend you also to be aware in forums to who you ask for advise. Meaning, ask a member how long they have collected (age) and what they specialize in as there are some times little kids who think know a lot just for reading other (experienced) collectors replies and having no real expertise in coins.
The final decision should be yours - But if they bother you that much - sell them and buy something towards your goal. I have several slabbed and/or raw coins in my collection(granted not modern coins) but I am thinking one day I might do a type set. But I do not let that get in the way of my primary goals. So just keep your focus, take your time and enjoy the hobby. Having said that I see nothing wrong with Dansco albums for high grade or low grade coins - even for the keys. But keep in mind it does not bother me to have some XF coins next to an expensive G key date coin. What I do not do is crack out coins. If I want a raw coin for the dansco I buy a raw coin from a trusted dealer - not from some place like ebay. Your the one who has to make the final decision - so take your time and make the decision which will help you enjoy this hobby the most. My local dealer keeps trying to talk me into doing a album of Morgans - I have a few, but that is it. Maybe some day - I do like the big silver coins, but just not yet.
Somewhat true about those that answer and have no idea of what they are saying. This happens on all types of forums. You really do have to take some or all of the advise you get on line as maybe just nothing. And that is why I've said you should just remember this is a hobby, not an investment. True, many make money from any hobby, but unless your planning on getting into the buy/sell mode, just do what YOU want with what you can afford. As to the coins you already have. Again, since your just starting out. Tomorrow you may want to collect those and if gone, then what? Hang in there and sit down and try to figure out what tomorrow may be like. I've been collecting coins for well over 60 years now and I just collect what I want, when I want, how I want.
