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<p>[QUOTE="ziggy29, post: 13024, member: 1113"]Welcome to the hobby!</p><p><br /></p><p>I'd recommend a few things before you start buying coins. First, I'd learn how to grade and learn where to find some of the best sources for price data. As others have said, there's a certain amount of overhead built into the cost of each coin that a dealer has to recover -- the legwork in buying it, putting it in a holder, making space for it in their inventory (which can sometimes take away from a space that a more valuable coin with more profit potential would occupy), and all that. Thus it wouldn't be unusual to pay 50 cents to a dollar for a coin you might be able to find in change or in a roll somewhere. </p><p><br /></p><p>For that reason, you might want to check with the bank where you do business and start going through rolls. Unless you happen to get a roll of new coins, you will have to wade through many of them to find an occasional gem in there. But that's part of the fun of collecting for many of us -- the "thrill of the hunt."</p><p><br /></p><p>And if you can find a few really nice ones for your collection, your cost for that coin is...one cent. If you find duplicates of really nice ones, see if you can network with other like-minded collectors and arrange a swap. This is especially important when you live in an area where you usually only receive P-mint change or only D-mint change; collectors can really help each other out that way. </p><p><br /></p><p>The most important thing is to learn a little about grading and about the market before diving in "head first" and buying from dealers, from eBay or anywhere else. For the modern stuff with little numismatic value, it's not cost-effective for dealers to carry these coins at or near the printed prices -- but when you can't find that one elusive piece anywhere in change, through swap networks or anywhere else -- it's nice to have the option to pay a bit more and get that hole filled.</p><p><br /></p><p>And most importantly -- have fun! If you educate yourself, your chances of having fun are greatly increased, especially since you'll reduce your chances of getting ripped off.[/QUOTE]</p><p><br /></p>
[QUOTE="ziggy29, post: 13024, member: 1113"]Welcome to the hobby! I'd recommend a few things before you start buying coins. First, I'd learn how to grade and learn where to find some of the best sources for price data. As others have said, there's a certain amount of overhead built into the cost of each coin that a dealer has to recover -- the legwork in buying it, putting it in a holder, making space for it in their inventory (which can sometimes take away from a space that a more valuable coin with more profit potential would occupy), and all that. Thus it wouldn't be unusual to pay 50 cents to a dollar for a coin you might be able to find in change or in a roll somewhere. For that reason, you might want to check with the bank where you do business and start going through rolls. Unless you happen to get a roll of new coins, you will have to wade through many of them to find an occasional gem in there. But that's part of the fun of collecting for many of us -- the "thrill of the hunt." And if you can find a few really nice ones for your collection, your cost for that coin is...one cent. If you find duplicates of really nice ones, see if you can network with other like-minded collectors and arrange a swap. This is especially important when you live in an area where you usually only receive P-mint change or only D-mint change; collectors can really help each other out that way. The most important thing is to learn a little about grading and about the market before diving in "head first" and buying from dealers, from eBay or anywhere else. For the modern stuff with little numismatic value, it's not cost-effective for dealers to carry these coins at or near the printed prices -- but when you can't find that one elusive piece anywhere in change, through swap networks or anywhere else -- it's nice to have the option to pay a bit more and get that hole filled. And most importantly -- have fun! If you educate yourself, your chances of having fun are greatly increased, especially since you'll reduce your chances of getting ripped off.[/QUOTE]
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