The poor collector's starter list

So tlasch started this thread tonight, about the "dream list" for a collector on a tight budget. Items, as he put it, that one may or may not ever be able to acquire.

And it occurred to me..as fun as it is to dream about the "someday maybe's" in our hobby, what about making the best choices you can on a budget?

So...I propose we create a list of coins that can be had on a budget. Put together YOUR list of coins you can find for < $100 that you believe would make the ideal "starter kit" for a new collector on a budget.

Consider things such as beauty, appeal, popularity, history, and potential return when making your suggestions. Things that can get and KEEP a new collector hooked during those tough years when (s)he can only dream about the key date Morgans.

Tell us why you've included the coin, and think it should be on the list.

If you see a coin on someone else's list that you agree with, say so, and add more information!

My hope (silly as it may be) is that maybe this can become a resource for all the folks that swing by here and say "Hi, I'm new to coin collecting, and was wondering what you guys think of..." Certainly doesn't have to be a 'definitive' list, but perhaps it can give some ideas! perhaps if we get enough posts, we can generate a "Top 10".

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A few contributions, in no particular order:

1) A high grade (MS69/PR69) American Silver Eagle. They can be had for less than $50, even slabbed. They are a beautiful coin, featuring some fairly historic numismatic imagery, and a full ounce of .999 silver is NEVER a bad thing to have in a collection. Years down the road, kids and friends alike will enjoy seeing it.

2) A bag of wheat cents. One can always find 2000-ish or so wheat cents for around $100 or less. While it's unlikely you'll find $100 "worth" of pennies in such a bag, the fun of searching them, finding the occasional teenie, and learning to grade older coins will make it a terrific starter investment. Combine that with the fact that the kids will love to jump in and help, and it's a no brainer part of a starter kit imo.

3) A slabbed MS64-65 common Morgan. Come on...a Morgan is pretty much one of the most instantly recognizable coins to even non-numismatists. With striking MS64's from PCGS, and 65's from NGC readily available in the $50 range, and PCGS 65's just a tick over $100, this is simply too historic and noteworthy of a type example to pass up. As an extra plus, ANY Morgan slabbed by a reputable TPG is unlikely to ever lose value.

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There are more, obviously...but maybe that'll get us started.

 

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Throw in a couple o' modern commems (dollar). Fun to collect and many times you can get 'em for less than mint issue price......

 

Hmm... I belive I fall into the catagory we are making a starter kit for, so some of my suggestions would be a gem merc dime( got a 66 FB raw for $28) a mexican gold 2 pesos just to have gold(usually about $70). Any ASE is pretty nice, and a good investment with what silver is doing. Anything from the 1800's is great, especiallly siver dollars, large cents, or 2c , 3c(especcially silver ones because of how small they are)and half cents. One of my personal favorites, the walking liberty half, is great, especially in mint state.

 

Really great thread! I agree with what everyone has said so far but what eric0911 said was too vague. My additions are:
1) Booker T Washington Or George Washington Carver Commemorative half dollar. These halves are the most affordable early commemoratives and can be found slabbed in MS 63 for $22 or so.
2) Franklin Half in Ms 63: easily found slabbed for around $13 and makes a very nice coin.
3) Circulated barber coinage: These coins are interesting, old, and can be found for little above melt (except for halves).
4) MS 63 Walking liberty half. A beautiful coin and easily found slabbeed.
5) MS 63 Peace Dollar: Similar to morgans in that they readily available and have a very nice design.
6) Circulated seated liberty coinage: not as cheap as circ barber coinage but not expensive either (except dollar)
7) Indian head cent and buffalo nickels: two classic american coin designs which are very popular and available.
(OK fine some of my additions are vague too)

If you are an all round collector you might also want to consider a 1914 federal reserve bank note- It is a nice large size note and is pretty affordable at around $45 for a circulated one.

 

If I were just starting out in a collection, one possible route would be to find a particular grade range of a specific circulated coin series and then go to dealers, coin shows, auctions, etc to find the earliest examples of them. I believe that the early wheat cents, or Indian Heads, for example, even in lower, circulated condition, are very exciting to many people looking to get into the hobby. A simple cent, over 100 years old that you can't find in circulation any longer, but can buy as a coin collector, is I believe, what many new collectors want to have first -- fill part of an album through the bargain bin at a show or coin shop or even buy some from their "better" 2x2 notebook coins at circulated grades to get the set going (get a certain date range started), then get one coin that is special in that set, whether raw or slabbed, (I would suggest slabbed -- it starts the collector in a new direction). If someone had less than $100 to spend, getting a set going, then add one key date, could be quite fun. That is how many of us got started in the first place.

 

I would go with a mint state Walker, in my opinion they are one of the most beautiful designs out there!!!!

 

How times have changed! The first 2 pesos gold coin I ever bought was from an ad in the August 1969 issue of CoinAGE magazine for the princely sum of $3.95!

 

My personal favorite for value in a key date is the 1931-S Lincoln cent. You can pick it up for aroung $100 in uncirculated condition. Sure it's only one coin, but think of the jump start you'd be getting if you already had this coin when starting a Lincoln cent collection! Plus with a mintage of only 866,000 and considering the amount of collectors out there, I doubt you'd ever lose money on this one.

 

At work today, of course, but WOW! Great responses everybody. I'll see if I can't sort through some things this evening, and clean this up into the beginnings of a "list" or 'reference".

Thanks for the input, gang!

 

Fill an album - V-Nickels to Kennedy halfs - take your pick.

Start with an empty Dansco album for Kennedy Half Dollars (with or without the proofs). Begin to fill it by roll searching learning which dates & mintmarks are plentiful. Keep only the finest condition coins & spend the rest. A beginner will learn the series, and learn the fundamentals of grading.

A beginner may also pick-up on the difference between almost uncirculated examples & uncirculated examples. With additional experience, the beginner might assimilate some history & begin to understand why some dates are elusive in certain grades.

If this exercise should spark collector interest in the beginner. If not, then the collection can always be traded away & spent.

Note that I roll searched $480 worth of half dollars a couple months ago. I filled about 80% of the complete date & mint mark collection (without proofs). I needed to buy the 70D and some of the D mint coins between 2002 & 2008 because they just don’t make it to my north-eastern state. Just yesterday, I broke down & purchased the 83D, and 86D which had been eluding me. Now the album is complete. My total cost was face value plus about $40 which I spent to upgrade the D mint coins mentioned above.

 

Here is my suggestion (you'll probably guess why..) Please, someone, include a short sheet for items that a new collector (or someone who has fallen in with no knowledge..) might need. Having received coins of late, I think I should treat them like a collector. Now, how do I do that? Perhaps a magnifying glass, a book of reference, a suggested way to keep track. I'm talking for a beginner, not for the seasoned collector who knows it all and assumes people like me just know. I ask because I was at the store looking at items and was quite overwhelmed with the variety and left empty handed. And if this is on another thread, well it fits here too and would help complete the list.

Just a thought. And I'll be looking for that list! Lucy

 

i would agree with that. a reference book, such as the red book, should be on the list.

 

I would agree with that as well. If you decided to begin collecting Indian Head Cents, for example, the relatively inexpensive "Guide Book of Flying Eagle and Indian Head Cents" by Richard Snow would be very helpful. It will help define the keys and many of the nuances of the mints and varieties. It also provides some historical context of what was happening in the year of each coin -- sometimes this can be quite eye opening.

 

For US coins I would say an odd denomination. These are always popular with non-collectors, something like a half cent, two or three cent, or maybe a half dime.

Why not buy something like a Constantine Roman coin? There are ones with the wolf and twins founders of Rome, or Fel Temp Reparatio, (Happy Times are Here Again), with Romans stabbing barbarians, burning their villages, etc. There is even one with the "Hand Of God" reaching down to take Constantine to heaven. Any of these can be found for $20 or less with searching.

 

A good choice. Or instead of mint state, you could go for a lower mintage coin like the 1916-S or 1938-D.

 

I agree with this! These are my personal favorite design and MS coins can be had for a very reasonable price! I recently upgraded my short set with all AU and MS coins for not much over melt value.

 

Have to agree! Got this at a show last month for the US Type set Intercept album. Looked over the whole show before settling on this MS-64. No blemishes and blazing luster. $52 :





Granted it was just a type set buy. Not normally into WLH's but these are extremely nice coins at these prices!

 

A new collector could fill a year set of Buffalo nickles for not too much money, most of the au ones are listed in the grey sheet for under 20 dollars.

 

I have go to say, brilliant! Glad I had inspired a wonderful thread. The funny part is, I have everything on your starter list and then a little bit more. LOL

Great job!

 

I think one could put together a nice 20th century type set in circulated toners for less than $100 each.