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<p>[QUOTE="TypeCoin971793, post: 3315247, member: 78244"]First, find your niche. This could be anything from errors, to capped bust halves, to 18th-century foreign silver. Walk the aisles of a coin show, refrain from buying anything, and look at bunches of coins to see what excites you. There really is no other way to find this out without buying a bunch of stuff to see what sticks. My niche is coins which tell an interesting story, regardless of when and where they were made. This keeps me busy researching the context of the coin so I don’t willy-nilly buy a bunch of stuff. Plus I can engage non-collectors by telling them a story. You’d be surprised by how many non-collectors appreciate my hobby when I delve into the history and context.</p><p><br /></p><p>Second, determine your budget. Can you afford UNC 1795 US gold? Can you only afford one $100 purchase a month? Stick to your budget. Don’t overspend. If there is a coin you have to have, save up for it or put it on layaway. Self control is extremely important. I’m on a strict budget, so I only buy coins which have the highest interest to me in my price range.</p><p><br /></p><p>Third, avoid coins where you say “it’s nice, but there is something I don’t like.” These purchases will bug you and leave you full of regret, even if it seems like a good deal. Even straight-graded coins can have aspects that bug you (big contact marks, toning, etc). I am speaking from experience here.</p><p><br /></p><p>Fourth, don’t let others tell you what to collect. I know several collectors who collect Morgans because “that is what everybody else collects.” I rejected coin albums because they did not allow me to collect the way I want to collect.</p><p><br /></p><p>Many say “stick to a list and buy from that.” Though it might work with collecting modern coins, there is so much more to numismatics that I want to keep an open mind. As such, I have no list, just a notion of what I want. I buy coins when the opportunities present themselves. There are some areas of numismatics where there is no telling what will show up when.[/QUOTE]</p><p><br /></p>
[QUOTE="TypeCoin971793, post: 3315247, member: 78244"]First, find your niche. This could be anything from errors, to capped bust halves, to 18th-century foreign silver. Walk the aisles of a coin show, refrain from buying anything, and look at bunches of coins to see what excites you. There really is no other way to find this out without buying a bunch of stuff to see what sticks. My niche is coins which tell an interesting story, regardless of when and where they were made. This keeps me busy researching the context of the coin so I don’t willy-nilly buy a bunch of stuff. Plus I can engage non-collectors by telling them a story. You’d be surprised by how many non-collectors appreciate my hobby when I delve into the history and context. Second, determine your budget. Can you afford UNC 1795 US gold? Can you only afford one $100 purchase a month? Stick to your budget. Don’t overspend. If there is a coin you have to have, save up for it or put it on layaway. Self control is extremely important. I’m on a strict budget, so I only buy coins which have the highest interest to me in my price range. Third, avoid coins where you say “it’s nice, but there is something I don’t like.” These purchases will bug you and leave you full of regret, even if it seems like a good deal. Even straight-graded coins can have aspects that bug you (big contact marks, toning, etc). I am speaking from experience here. Fourth, don’t let others tell you what to collect. I know several collectors who collect Morgans because “that is what everybody else collects.” I rejected coin albums because they did not allow me to collect the way I want to collect. Many say “stick to a list and buy from that.” Though it might work with collecting modern coins, there is so much more to numismatics that I want to keep an open mind. As such, I have no list, just a notion of what I want. I buy coins when the opportunities present themselves. There are some areas of numismatics where there is no telling what will show up when.[/QUOTE]
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