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Don't buy key dates first if you're a novice
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<p>[QUOTE="-jeffB, post: 3189975, member: 27832"]I've heard lots of people say "buy the key dates first". I've said all along it's a bad idea, but I never saw this thread with Our Founder saying the same thing!</p><p><br /></p><p>I think a lot of people look back at coin prices from when they started collecting and say "wow, if only I could get those keys at those prices now!" Some examples from the 1975 Red Book, when I was still a YN:</p><p><br /></p><p>1909-S VDB cent, unc: $225</p><p>1916-D dime, VG: $125</p><p>1921 Peace dollar, VF: $22</p><p><br /></p><p>Each of these, along with many other coins, now goes for four or five times those prices.</p><p><br /></p><p><b>Big deal.</b> Almost <i>everything</i> has gone up <i>more</i> than that in the intervening time.</p><p><br /></p><p>Even if I'd been a super-industrious kid with paper routes and the like, I probably would've focused on a more attainable series, like Jefferson nickels, Roosevelt dimes, or Washington quarters. Let's look at the "key dates" there.</p><p><br /></p><p>1932-D quarter, G: $32.50. Today, its Numismedia FMV is $63.25 -- not even double.</p><p><br /></p><p>1950-D nickel, unc: $12.00. Its Numismedia FMV today: <b>$12.00</b>.</p><p><br /></p><p>1949-S dime, XF: $2.00. Its Numismedia FMV today: who even cares? It's <i>junk silver</i>. Hopefully I would've had the sense to dump it during the 1979 run-up, or failing that, the 2011 run-up.</p><p><br /></p><p>The even bigger catch, though, is that I would've likely ended up with heavily cleaned or otherwise damaged examples, because <i>I was a beginning collector</i>.</p><p><br /></p><p>So, <b>buy the key dates LAST.</b> And don't depress yourself with if-only's.[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 3189975, member: 27832"]I've heard lots of people say "buy the key dates first". I've said all along it's a bad idea, but I never saw this thread with Our Founder saying the same thing! I think a lot of people look back at coin prices from when they started collecting and say "wow, if only I could get those keys at those prices now!" Some examples from the 1975 Red Book, when I was still a YN: 1909-S VDB cent, unc: $225 1916-D dime, VG: $125 1921 Peace dollar, VF: $22 Each of these, along with many other coins, now goes for four or five times those prices. [B]Big deal.[/B] Almost [I]everything[/I] has gone up [I]more[/I] than that in the intervening time. Even if I'd been a super-industrious kid with paper routes and the like, I probably would've focused on a more attainable series, like Jefferson nickels, Roosevelt dimes, or Washington quarters. Let's look at the "key dates" there. 1932-D quarter, G: $32.50. Today, its Numismedia FMV is $63.25 -- not even double. 1950-D nickel, unc: $12.00. Its Numismedia FMV today: [B]$12.00[/B]. 1949-S dime, XF: $2.00. Its Numismedia FMV today: who even cares? It's [I]junk silver[/I]. Hopefully I would've had the sense to dump it during the 1979 run-up, or failing that, the 2011 run-up. The even bigger catch, though, is that I would've likely ended up with heavily cleaned or otherwise damaged examples, because [I]I was a beginning collector[/I]. So, [B]buy the key dates LAST.[/B] And don't depress yourself with if-only's.[/QUOTE]
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