I believe I spelled that correctly. Anyways. I am returning to our beloved hobby, however I am beyond overwhelmed as where to start. As I said in my introduction post, I am after knowledge first before I dive right in. Where to start? (I know, this does not help much, but I do not know what/where to go) 1) Is greysheet still accurate as a reference for prices? (I know the basics - that prices are nothing more than a mere guide) I am browsing through ebay auctions to try to get a feel for the market. 2) What is hot? What's not? I like to get a feel for trends and see where the market is going. 3) Any tips for a returning newbie? Thanks ahead of time, and Merry Christmas to each of you
No one really leaves the Hotel California. There's seems to be growing interest in ancients, world coins, paper money and putting down pm's. If the Glory you mention is the '79-80 market, this ain't it. There's a Blue sheet for slab prices and coffee beans, and plus signs for slabs- bows, ribbons and Shakespeare shoe bells should be coming next. See 2nd post.
As far as I can tell, we're not in a boom or bust but just slogging along. And Dave Bowers is still the God Father. If your looking for a good place to start try the link. Welcome back to the Glory of Numismatics and the occasional civil war of the mind, a.k.a: collector? investor? http://www.amazon.com/gp/aw/d/0794821782/ref=mp_s_a_1_4?qid=1388058740&sr=8-4&pi=SY200_QL40
Welcome back to the fun! Many of us started with the wheat cents. With the exception of a couple of coins, you can pick up high quality ones for reasonable prices. If you're looking for new stuff from the mint, the 5-oz ATB (America the Beautiful) collector's coins are doing well from the mint. We refer to them as the "hockey pucks". Books are always a good place to start but I tend to use the internet more than books. I look at coins on ebay and then google search them on the net to compare grading and read about fakes. I also use the advanced function on ebay to learn about recent sales of a coin that I want to purchase. It is a good way to understand market price. I never buy from folks without much feedback or anyone outside the US.
welcome back to the greatest hobby ever. longnine009 put it right..are you a collector or investor ??? that will determine how much you will spend on a coin. I do it for fun but know what coins are more rarer than others. maybe do a type set first to figure out which coin designs you like best. I myself love the vast variety in world coins. after collecting coins for 16 years I am much more focused on which coins I am hunting for. my particular interests are in world coins with topical/themed coin collections..."coins with insects" being my favorite, then "coins with hands", coins with certain stars", coins with small coins on the coin as the design itself", rainbow toned coins, and large MISC. section. buying books will definately help you out. I love my Krause world coin catalogs dating back to the 17th, 18th, 19th, 20th centuries. I buy them every 2 years to see where my coins values have gone up or down and to see the new coins being made. do NOT let someone else tell you which coins to collect. you will get more out of coins if you pick your favorites. best of all enjoy the hunt. do not feel you have to pay crazy prices for coins either. if you are happy with a cheap coin then that's what you should get. buy the best you can afford. sometimes I would save up for a particular coin. have FUN.
Grey sheet-- yes, still the most accurate. Hot items? Currently CWT's and Bust $1/2's are about the hottest.
Thanks for the replies I am a collector at heart, however do know (well, did know) my way around the market to flip for profit. I turned $20 into roughly $300/$400 once experimenting. I will be collecting but have accumulated a decent amount of cash to give a certain amount of dedication to it. I don't like investing in coins particular, as I remember a lesson GD always cited "if you are looking to invest, coin collecting is not for you - collect because you enjoy it." It was something to that effect. When I make profit, it is more so for a decent flip not a long term sit and hold. I was quite into Lincoln Cents in 2008/2009, and loved the older American silver. Ancients caught my eye for a little while, but am wanting to just peruse American coins for the time being.
Welcome back. I would concur with Doug's sage wisdom, never invest in coins, buy them for your love of them. Its a hobby. I would get a single copy of the greysheet if you want up to date pricing, and go to a couple of shows and look around. Coins are one of those things you really need to get up to speed on if you wish to participate.
Welcome back. I decided not to renew my Greysheet subscription this past month and I have been a subscriber for over two decades. For many years the Greysheet, in my opinion, has made little attempt to keep up with realistic prices for difficult to obtain coins. Now that PCGS has really straightened out most of the kinks in their CoinFacts website, it provides far superior information that is broader and more accurate. It is also about the same cost as the Greysheet. Again, in my opinion only, I think the Greysheet believed they would always have this market cornered and are now finding out they might be in trouble.
