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I'm feeling intimidated. Is this hobby easier than it looks?
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<p>[QUOTE="dayriser, post: 901253, member: 21610"]Just my little two cents... You clearly seem interested in buying as an investment, or profit primarily, and having a hobby as a secondary motive... If that is the case, let me recommend that you try to specialize in a couple of areas, or even just one... I am a compulsive reader and studier, and I can tell you that you will be far more effective in buying/selling/learning if you become say a Morgan Dollar specialist, or a Lincoln Cent specialist... Scan through these forums and you will find guys and gals that specialize in all manner of coins, but you will NEVER find someone who specializes in COINS, it can't be done. You will find that if you stick to a couple of areas, your knowledge base will increase far more rapidly... Your eye for grading those particular coins will be enhanced far more quickly... Also, do the research first and BUY second, never the other way around... Too many times, people (and I think most of us have done this at some point) find a coin, or a set that is old and appears to be in fine shape, and they get it in their head that 'Surely, this coin must be of value', only to go home and look it up and find that it is either commonly counterfeited or commonly found in higher grades and therefore not as valuable as you thought... In other words, if you want to make money, you CAN NOT buy impulsively... Plan your purchases just like you would a car, or a home...</p><p> </p><p>Now as a hobby, forget about all that and just buy what makes you happy... I do a lot of research before I consider buying even an individual coin, but I saw a set of Jefferson nickels the other day that nearly brought a tear to my eye, it was so gorgeous... The dealer was asking about 30% more that I would have valued it at, but I want it badly, so I am going to go back and get it... Don't care if I ever turn a profit on it...[/QUOTE]</p><p><br /></p>
[QUOTE="dayriser, post: 901253, member: 21610"]Just my little two cents... You clearly seem interested in buying as an investment, or profit primarily, and having a hobby as a secondary motive... If that is the case, let me recommend that you try to specialize in a couple of areas, or even just one... I am a compulsive reader and studier, and I can tell you that you will be far more effective in buying/selling/learning if you become say a Morgan Dollar specialist, or a Lincoln Cent specialist... Scan through these forums and you will find guys and gals that specialize in all manner of coins, but you will NEVER find someone who specializes in COINS, it can't be done. You will find that if you stick to a couple of areas, your knowledge base will increase far more rapidly... Your eye for grading those particular coins will be enhanced far more quickly... Also, do the research first and BUY second, never the other way around... Too many times, people (and I think most of us have done this at some point) find a coin, or a set that is old and appears to be in fine shape, and they get it in their head that 'Surely, this coin must be of value', only to go home and look it up and find that it is either commonly counterfeited or commonly found in higher grades and therefore not as valuable as you thought... In other words, if you want to make money, you CAN NOT buy impulsively... Plan your purchases just like you would a car, or a home... Now as a hobby, forget about all that and just buy what makes you happy... I do a lot of research before I consider buying even an individual coin, but I saw a set of Jefferson nickels the other day that nearly brought a tear to my eye, it was so gorgeous... The dealer was asking about 30% more that I would have valued it at, but I want it badly, so I am going to go back and get it... Don't care if I ever turn a profit on it...[/QUOTE]
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I'm feeling intimidated. Is this hobby easier than it looks?
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