OK... so i am new to this hobby i have done all the research i think i can do. but man this is such a broad hobby, so many choices, varieties, and ways to collect. my whole life growing up my grandmaw wanted me to collect coins but i never ever thought i would even consider it, it just seemed so boring. (guess i was wrong). So after she died i got a few newer half dollars from her collection that my uncle would let me have. so i thought i could try this out if not for anything at least in her memory, but the more i read and hear about it the more interesting it seems, but i feel like a 3 year old looking for his mom at the world's fair. i dont know where to start, how to start, what to look for, what not to look for. every where i read says collect what your coins your most interested in, but the thing is i find them all interesting. so my goal with starting my collection is basicly i want to get a collection going although i dont really have money for it. so i was thinking maybe i could collect coins that are inexpensive right now but that are sure to grow in value in time that way i can pass on to my children when i have some what my grandmaw always tried to pass on to me. or maybe just to start some how get some coins for cheap and be able to turn around and sell them for a profit to make money to build a good valuable collection. if that is even possible. so ADVICE PLEASE!! AND LOTS OF IT. what are the best coins to get cheaply that may be rare or valuable. or how do i collect them starting out like this with basicly no money? i read some where just get pennies and try to get one from every date as far back as you can. well seems easy enough, but not very much like an investment or valuable collection like i am trying to build. can some one please guide me, help me, give me a jump start, a guide line, **** even just your personal opinion on what you like to collect and why, how you got started, where did you and what did you start out with, how did you grow it to what it is now? or could you at the very least please just point me in the general direction. PLEASE DONT READ THIS POST AND JUST PASS ON PLEASE HELP ME AS MUCH OR AS LITTLE AS YOU CAN, WE WERE ARE YOUNG COLLECTORS AT ONE TIME. thank you so much, sorry for rambling.
Not really possible in my opinion. If you want rare, valuable, etc, you just have to be patient. Save up for the coin you want, buy it, be happy, move to the next one. Coin collecting should not be a rush or "I have to have it all now" hobby. Take your time, browse coins, what you like today and or buy, you could come across a better deal tomorrow. But if you want to possibly collect for cheap to obtain coins to turn around and sell for profit on a low income, well, the only thing I could think of is buying modern coins (coins in circulation now) and searching for error type coins that people may buy at a higher premium than the face value, etc. Go slowly though, you're post makes it seem like you're in a hurry to just start accumulating coins, that's the wrong approach and you'll just end up never being happy with the coins you do obtain cause you'll just be looking for the next one without appreciating the ones you do pick up.
Wow your right thank u so much only thing is what is a good place to start what kind? Should I start wit a coin that wasn't made long, or the o so popular penny. If something like a penny that's been around forever where do I start what date and are the longer running types good for a beginner and would I see an increase in value in say 10 or 20 years? Great advice but ha, I'm just so lost I feel like I'll never get a good collection goin that I can b proud of
Pennies are definitely a good starter coin. You can get them for fairly cheap for certain. Some people like to put together the complete sets, some people go after more key date coins. Some people go after only high grade coins. It's really gonna boil down to you and your own preferences you will soon find when you start collecting. We can give you all the pointers we can but in the end, how you collect is really like your own personality, no one can tell you how to act just like no one can really tell you how to collect coins as a hobby.
Yeah, like rodeo says, you need to wait and find some sort of direction before you go out and start buying everything you see. After you get used to being in the hobby, a lot of stuff won't be as big of a deal to you as it is now and you'll be more likely to pass on coins than want to buy something. You won't have to settle on one thing. I have an appreciation for many series' out there as well. Doing a US type set helps give you a reason to get something you normally wouldn't buy. Some years I work primarily on one thing. Other years I get random stuff. I'd say many here have a lot of different collecting interests going at the same time. When I was younger, I got some as gifts. I got a nice collection that way. Like many, I lost interest in highschool and just didn't collect for many years. In 2008 I remembered the hobby and just started collecting again. Only this time as an adult with a full time job. Makes a big difference. I still sometimes receive things for the collection at Christmas. For now, you might like learning and looking for errors. I don't know of any better way to cherry pick expensive stuff than that. Because almost nobody pays attention to them but there are collectors out there that want them and sometimes pay big for something good. Then you could sell that error and buy something you're into. You will need to have a strong knowledge base to cover as much as you can. You'd hate to have a nice one right under your nose and pass it by because you didn't know. It may take a while. I wouldn't expect to find one every day or even every month. So don't get discouraged. If you find a few a year, that might be pretty good. This strategy works well for cruising ebay too if you know what you're looking for. A few people around here have bought stuff on ebay and re-sold it for what it was and made good money. But you're going need some money to do this and a little luck to find them.
Man are you on coke or what? Just calm down! lol You just joined the forum this month. You're only getting started. Give it a few years. You'll have a collection going if thats what you want to do. How old are you?
Very possible in my opinion!!! I am new as well. In fact starting a collection was not my original intention. I recommend coin roll searching for silver coins. I would recommend half dollars for a few reasons but dimes are fun as well. Silver Quarters seem to be very rare. Just go from bank to bank and ask if they have any half dollars or the big old fashioned silver dollars. If your area does not have enough of these coins getting turned in, or if you are finding everything you get has already been picked through, you can ask them to order you a $500 box as often as you like. ($250 for a box of dimes.) Sort through them for the silver coins. any coin older than 1964 will be 90% silver. half dollars from 1965 to 1970 are 40% silver. at current spot price a 90% half dollar that cost you 0.50 is worth 11.47. (HOLY COW I JUST NOTICED HOW MUCH SILVER WENT UP TODAY!!) A roll of 20 coins would be worth 229.46 and only cost you $10. Just keep grabbing and sorting all the coins you can. you can easily sell them for silver value when ever you want and reinvest in the coins you really want!! You can also keep an eye out for error coins and key dates that may be worth more than face value to sell or keep for your collection. I am currently building a book of modern date half dollars that have really interesting toning. probably never worth more than face but I think they are cool. It helps to look for more than just silver because you will go through dry spells where you don't find any. I love coin hunting and cherish my found coins much more than my bought coins. it is fun to treasure hunt!!
thanks guys i cant say you have helped me decide on any thing ha. but you for sure have helped me understand why i feel as lost as i do, its like my own personality.. i like that, alot. your excatly right. i wouldnt go ask some one hey how do i act and what do i say when i take a girl out on a date. haha.. about the errors though. i read many books before i even started looking. i guess i been studying since christmas of 2010 when i got a coin collection book. it was from my girlfriend's mom who didnt have a clue what or if i collected. so to me that was like a gift from my grandmaw still even after she's passed trying to encourage me to gain that passion she had for it. i started with error coins, because i knew i could possibly find some randomly with out having to buy any but there are so many kinds just in double dies. and alot are not even considered errors but damaged. thats the hardest thing for me with the errors, so i kinda gave up A LITTLE i still look close at every coin that hits my hand. but i did buy one coin i moved downtown and i woke up to a lot of noise and i walk downstairs and right out the front door of the entry way was a booth with a man who had just a handfull of coins for sale, it was a flea market and he was the only booth with coins. so i though well i think it is destin that i get me some coins and stop just reading about it. so i bought this 1977 s penny from him for $.50 i looked it up in my book its worth about $3 and that lit a fire under my but ha. but as i looked for errors on it i noticed something was not right about the s but i could find anything to support it. they have a 1979 filled s penny that looks excatly like the s on my penny i have put pics up of it but no one can seem to tell me any thing about it. also i found a 2009 penny that looks like the double dies i see in all the recent double die pics in my books. i also posted but some one said the 2009 is considered damaged some one said it is double die but either way i am still lost on both pennies i really want to know about the s on my 1977. i just have a feeling about this penny for some reason, i mean how i come about getting it just so random like that it being my first coin to collect. do you either of you guys think you could take a look at them if i put a pic up. i am so sorry for going on and on like i am. thank you guys so much this is just the first time i've actually got to have a conversation with a experienced collector about getting me started. thank you so much
Try to break this into doubled spaced paragraphs, it makes it easier to read. When people post like this, it's like reading a boring novel and you get lost going line to line. Look at my first reply as a good example.
This answer is for JHSmith87 but I wanted to copy the quote from Vess1. If you don't already have one, you should get the Red Book (Guide to US Coins) by Yeoman. Also, you might consider meeting-up with some Cointalk members or other mentors at a coin show or coin club meeting. BEFORE you buy anything on Ebay feel free to post photos of coins here for comments & discussions. BTW, it is best if you can keep your questions concise and keep it to one subject per thread.
You beat me to it Mr Rodeoclown. I believe some people don't even begin reading messages that begin with a long paragraph. They feel it will will be a lot of work so they don't even begin. They just toss it & go onto the next subject.
One other thing- I believe most people appreciate a title or subject line that describes what the thread is about. A properly worded title might attract more people with input for your thread.
It is a fun read You might consider getting a copy of The Error Coin Encyclopedia by Margolis & Wienberg. It is a fun read & it describes much about the minting process & the evolution of error & variety collecting. You can also subscribe (free by Internet or hardcopy for very little money) to the monthly mail-bid sale from Jim's Coins in Madison Wisconsin. You can also join CONECA and receive their magazine Errorscope.
Buy the most expensive coin(s) you can and wait 40 or 50 years for them to appreciate. Then, when they're worth a bundle give them to your kids who will spend them like water through a sieve at face value. Then, start all over again when the kids move out. First off, get a Red Book and use it as a guide. There is a lot of good info for the beginner in it. Ignore most of the prices except to see what are considered rare or desirable. Check out a few coin shows and visit a few coin shops. This should narrow down your area of interests. There are specific coins you could collect or denominations; there are ancient coins; paper money is also interesting; or world coins; silver or gold coins; colonial coins; etc. etc.. Relax and enjoy the hobby. If you're trying to make a killing at it, give it up and take up something with less risk.... like farming.
sorry about the structure and length. i have many books, 2 error coin books. one is strike it rich with pocket change by ken potter i have the red book, blue book, and beginners guid to coin collecting. as far as talking to other collectors no town pop. here is maybe 3000 nearest coin shop 75 mi. 87 yes i am 24. on coke no. recovered addict for over 2 years clean now. ex coke addict no. i was a xanax person. but for now to explain the overactivity i would have to say the adhd is to blame there. here is the pics of the pennies i talked about in my last long boaring novel. (sorry) yes i have posted these pics on other threads but didnt get many opinions. let me know what you think.
Yep, I've heard several seasoned investors say they sold thier collections for less than what they paid for them! i will say it again. coin roll hunting is the way to go. hard to loose money when you only paid face! If you want fancy coins sell the silver coins for spot and buy what you want. then your collection is built on found money. I have found about 170.00 worth of silver this month. you cold buy a couple pretty nice coins for that depending on what you are collecting.
