Some questions from a new member

Hello everyone. I've been searching online coin collecting websites and Coast To Coast Coins seems to have a pretty good reputation off line so I visit their website periodically. Anybody ever heard of them? Also are there any other reputable coin companies out there that have websites? I found them in Coin World, but how do I really know the true value of any coin? I have to take someone else's word for it and I would like to get a few opinions here, not from sales people. I am looking to purchase some coins for my son for Christmas. He likes foreign coins. Also how valuable are the new nickels and the quarters with the individual states? Are there any to watch out for that we should keep? I want to buy a few not so expensive coins that might appreciate over time. Any suggestions?

Thanks

 

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I agree with GDJMSP Yvette but I'll go a bit further.I think they sell overpriced and overgraded coins and I speak from personal experience.You might want to buy him some US proof sets which,depending on the year,can be quite inexpensive.My method of finding a good deal is to just Google search "U.S. Proof sets" and find the company with the best price.I'm sure that several of our members will come along and steer you to some of their favorites.

 

Thanks everyone. There aren't any countries in particular that my son likes, just anything that is unusual, but he now is into collecting state quarters also. The proof sets sound like a good idea.

 

Yvette:
Welcome, and good luck to your son.
For values, Coin World's trends is a good place to start, but they are only US Coins. They also, occasionally, print values for Canadian and Mexican coins.
Regarding Coast to Coast, think: Big advertiser, big expenses, big overhead, big markups. (Enough said).
Try a local coin shop. Ask for help, and don't be afraid to ask questions.
Good luck.
Frank
The Other Frank

 

I have purchased from both APMEX and Jakes and had good luck with both.

 

Sorry for posting again, but have you taken him to a coin show? Better than purchasing over the internet in my opinion.

 

Hi Yvette I just noticed that your home page is cost to cost coins?? seems a bit strange as you were asking about them

De Orc

 

Home page

Hi De Orc,
I had that set because I wanted others in the orum to look at it and give me their opinion ad I like the name. I meant to change it the last time I was in here, but forgot and I don't get ijn here often becaus emy schedule is very busy, especillay now.

 

Frank wrote:

"Welcome, and good luck to your son.
For values, Coin World's trends is a ggod place to start, but they are only US Coins. They also, occasionally, print values for Canadian and Mexican coins."


Thanks Frank. I will take a look at them.

 

Hi Dragon,

I have not taken my son to a coin show. I'm afraid he will want everything he sees, me too, lol, and we do not have aenough knowledge to know if we are paying too much or what the value of a coin actually is. Who determines that anyway? We might go to a coin show in the future.

 

Yvette:
To start, pick up some copies of Coin World, or go to their web site for some info,.
Stop at a news stand and pick up a copy of their monthly magazine, Coin Values.
While not perfect, it'll give you a nice idea of what current prices are.
Also, buy a copy of the Guide Book of US conis (also known as the Red Book) for info and just plain reading.
Prices are out of date (it is printed about a year before the cover date) but it contains a LOT of info.
Good luck.

 

Yvette,you'd better warn your son that coin collecting is an addiction,albeit,a positive one.It is better to put your money into buying coins.It is idiots that waste thier money on drugs,especially of the narcotic kind.

Aidan.

 

Hi Yvette.....

All coin companies want the most for every coin they have to sell! With Coast to Coast, I watch their website, read every "Rare Coin" Monthly they send, read their ads in Numismatic News and often notice a coin they lowered the price on. After buying their three top grades, of which "Gem" is their best, Ihave purchased som nice coins for a good price. I get good value on the modern semi-keys like the 46-S AND 55-D quarters.

Try to visit a coin club in your area. You'll learn a lot. They usually have an auction as part of the minthly meeting.

Local coin shops are good for learning about grade and current prices. Visit often and browse their offerings.

Write dowjn grade of coins that take your son's fancy and check them against others,

Like others have already told you, get a couple coin publications and the Red Book!

Clinker

 

Yvette, I'm not too sure about Coast to Coast, one way or the other. But if your son is not into any particular country maybe he likes a certain theme, like animals. Many different countries use animals on their coins. He will build a collection of something he enjoys, not just a mass of unrelated coins. There are many different themes to choose from. I chose prospecting as my theme a few years ago and now have a collection of bullion coins, game counters and exploder tokens. Just a thought.

 

Thanks for all of your help and advice. I am going to print all of it out. My son will appreciate it. We started with a state quarter collection. I would like to purchase gold quarters for the collection. I also have a some uncirculated coins and I think having a theme is a good idea. Since we are new at this I am going to start reading more publications and try to get to the next local coin show. I would like to know: How difficult is it to purchase uncirculated coins from a bank or any coins and what is the difference in price between a bank and a coin dealer and are uncirculated coins worth anything? Thanks. Happy New Year!

 

Speaking of the "theme"... our daughter Thalia Elizabeth is mostly interested in coins with Queen Elizabeth II on them. This narrows it down to, well, thousands of coins... but many of them are quite inexpensive. And she gets a geography lesson besides.

In terms of "uncirculated coins" you can't "really" get them from a bank. Some will sell you rolls of coins at their actual value- $10 for a roll of quarters which is $10 worth; and if you're in the right place at the right time you'll get new ones. But with the demand for State Quarters I've been told that many banks have made it more difficult to get these, restricting to one roll or limiting to customers (or even "good customers") only. If you want truly uncirculated coins you'd need to purchase a Mint Set from the mint itself or from a dealer.

I am not aware of any gold quarters. Perhaps you mean the silver proof versions of the State Quarters that the Mint has been issuing?

I highly recommend coin shows. Many of them pay special attention to young collectors such as your son.

 

So-called gold quarters are simply circulation quarters which a private company has lightly plated with gold - chances are it's less than 1¢ worth.

They have zero numismatic premium above their 25¢ face value, and are sold primarily to non-collectors through misleading advertising that makes it seem like they are very valuable.

If you want a set because it looks nice, and realize that you will never, ever, be able to sell them for what you'll have paid, go for it. Otherwise, heed the

 

Go to the USMints web site and buy proof or uncirc sets of coins. For the Red Book on coins for education purposes try the Walmart Web site. About the cheapest prices for coin books I've found. Always type in coin shows in your computer search system and enter the state you live in for a decent collection of coin shows and go to as many as you can. Make sure you don't go nuts and buy everything in site. Just do a lot of window shopping and ask, ask, ask questions. If a dealer isn't helpful, you'll know to make a note never to buy anything from him. Also, check if there are any coin stores or stores with coin counters in them. Some flea markets have coin dealers also. Do a lot of window shopping before you buy a coin. Learn as much as you can about coins. Depending on the size and amount of coin shows in your area, they are usually the place I learn the most about dealers. Never buy on line unless you really know what you are doing. Also, printing out some of these topics on this forum can be just as educational as going to coin shows, talking to dealers at stores or on line dealers. AND it will only cost you a little electricity to run your computer and a little paper. Lots and lots cheaper that running around wasting gas in your car.