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Pronounce it, and you'll get an idea.

 

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I don't understand #4.

 

Thank you! that is great advice, do you feel that i could revise it to discuss how people should look for the best deal as opposed to the best price, or omit the statement as a whole?

 

Brandon #11 I disagree totally . ...yes they are bullion coins and yes should be mint state. However many times I have run across a kookaburra , ASE, or other 1 oz silver bullion that someone else has already slabed . I have purchased these sometimes less than a raw coin. You always buy the coin not the holder but.....If I can score a slabed coin that I know is a MS 69 for sure for less than a raw one it's a no brain er. You can always crack it out.
I understand your attempt to follow logically rules of the road that one my think is correct . And yes there are several that should be observed . But remember this coin collecting is not logical from one point of view....Why because what is liked by one is hated by others. It's a personal thing,and choice. So any sorts of logic is out the window when dealing with another likes or dislikes.
How many times in here has a member posted something and you asked yourself why did they spend money on that ?
I like your project and was glad to help with photos as you asked.....but you need to look at this not from the left or right but middle of the road view. With advice that is sound not a personal view of collecting .

One other point I disagree is only buy slabs from the top 4 tpg.
You always buy the coin! Not the plastic .
There are collectors who collector slabs no matter who's name on them, sample slabs are huge these days.
Yes again that is a personal call or choice, but just supposed you found a key coin in a slab from a TPG that is not one of the top 4? Do you pass on it when you know it's a winner?

 

Bit of advice
-Get them interested in the history behind the coins (only focus on modern coins a little)
- Actually, silver bullion are nice in small quantities, just don't invest all your money in it.

 

Buy low - sell high.

 

I grew up in Jackson. That's a neat CWT.

 

Come 0n T - he's from Texas.

 

A new collector (his intended audience) won't have the slightest clue if the coin is a winner or not. Encouraging them to try and cherry pick basement slabs right off the bat will be a VERY stiff financial lesson for them to learn the hard way. That is how you end up with people buying NNC coins at PCGS/NGC prices. Sure you could probably find a handful of people that will be successful right away even if it is just dumb luck, but the overwhelming majority don't need to be jumping right into the deep end. If anything they should probably be avoiding ICG too as well at this point.

 

I think you could go either way on it. If you didn't want to do a big section on it I would suggest adding something like "For common modern and bullion coins" and just kind of leave the more complex classic coins out of it entirely

 

Well put.

 

That's your opinion . .......no matter what buy the coin not the slab. And I might add one needs to get their feet wet,that said if you're new to the hobby you should not be buying coins but buying books. And if you're new and drop a big wad on any coin or slab buyer beware!
Learning to swim one doesn't jump in the deep end...unless one has a death wish.

 

I am not entirely sure how trying to cherry pick basement slabs could be encouraged while saying not to jump into the deep end right away. People do need to get their feet wet and the way to do it is in the safest way possible. No one wants to spend years studying before making their first purchase and expecting them to do so will is rather unreasonable. While they absolutely should be learning as much as they can as they go along (like we all should since no one knows everything) all new collectors can do is minimize the risk they are taking. Low value purchases to start are one way, another would be stick to PCGS/NGC maybe even CAC coins only. That doesn't mean a miss would be impossible, but the chances of a terrible miss are much much much lower than trying to pick basement slabs right off the bat would be.

There is a local shop I go to about once a month, I cannot even count the number of times someone has brought in a basement slab that they paid 15 times more than they should have thinking they got a great deal and that it was worth 10-20 times more than they paid. Had they just avoided those all together until they had more experience every one of those situations could have been avoided along with countless others that happen everyday.

 

Been trying to get all the store card varieties from Jackson County for years. Still need eight, but two of those are Rarity 10(Unique), the rest are Rarity 9(2-4 known).

 

First of all I never said anything about cherry picking ...you did.I said if you FOUND A KEY would you pass it up because it wasn't in a TPG slab from the top 4.
The trouble with your generation of collectors you rely on PCGS,NGC, CAC, to make a call , when you as a collector should already know.
When it comes to my money or coins I make the calls. If I'm wrong then I have only myself to blame. Not a TPG or a company who sells stickers.
Most of us from my generation fear not in buying a raw coin,because we know what we are doing.
The reason we know is because we have been doing this for 40,50,60 years. We have established libraries of books that we have read and also use for research.
So to a YN or someone who is just starting in this hobby I say this buy the book first and foremost . Next Read it! Ask questions to those whom will teach you the difference between a smart buy and an in pulse buy.
And mostly we are human and believe it or not humans no how smart or how stupid make mistakes.
Learn from them...... and own them. Realize that TPG and companies who sell stickers are also human and subject to the same above. They can and do make mistakes!

 

Anytime you buy a basement slab you are cherry picking. 99 percent of the coins in basement slabs are there for a reason.

New collectors would be wise to avoid the minefield of basement slabbers.

Possibly, depends what it is. A key trade dollar yep I am passing 100 out of 100 times someone else can play that game, Seated Material which is my favorite no necessarily.

Again this is for new collectors who yes they should pass on those until they have more experience.

Not at all which is quite evident why their holders of the same coin sell for ranges of prices instead of a flat fee.

Again this is for new collectors to help them and minimize their risk. They absolutely should rely on PCGS/NGC/CAC to help them minimize their risk as they get a feel for things as they are first starting out. There is no reason for them to start playing in the numismatic minefields that even experienced collectors will get burned in.

And for the record there is no problem with my generation of collectors or any generation of collectors. Their collection isn't your collection nor are they collecting to please you. People will collect in the manner that makes them happy and as long as their collection makes them happy that is all that matters.

You have missed the entire point of this. This is for NEW collectors. Your advice to people collecting for decades and years has absolutely no baring on what to tell a brand new collector how they should proceed. Do whatever you want, you aren't the target audience. But when you go around telling new collectors to dive in with raw coins and basement slabbers you're costing them a lot of money

 

Well put Paddy,
I lost $ on every coin I purchased, my 1st year in the hobby... I bought the coin 1st, then the book.. it's no wonder I even stuck with this hobby, luckily it taught me some invaluable lssons about cleaned/problem coins and dealers who are crooks .... Now, I'm like a hungry wolf out on the bourse floor....
Wolf out.....

 

Well heavy the EXPERT has spoken.......so I guess I'll just wait for his first book to be published by Whitman . ...not holding my breath though.......

 

Aaaahaaaaaa

 

Awesome! thank you so much for the great advice, so things such as "buy the book before you buy the coin" type general ideas are thigns that I should present