What is the best reference material to see figures on the different types of coins and their current and historical demand. Are there any sites that compile this type of info from Auctions and other market info? Is the greysheet the best possible source of this info? Could someone elaborate of what info the greysheet and bluesheet provide? Also I understand that for a beginner its best to start off focusing on a series of coins. I'm trying to determine what my focus should be on. I'm not exactly overflowing with money. I'm approaching coin collecting from more of a collection standpoint then from a investment standpoint ,but I would prefer to purchase coins that will appreciate in value and are rare enough to prevent any major loss. I'll probably pick up coins in the market of $100.00-$500.00 and possibly higher at small intervals. For this purpose I need to have some data on the current market to determine undervalued coins and try to stay away from those with so much demand that the costs become astronomical. But I don't want to purchase a series that never seems to be in demand and therefore is stagnant in the market. Any suggestions and helpful tips would be appreciated ?
Sounds like you have more money to spend than the average person from what you say. Otherwise I would suggest just going to a bank and buyiing bags of pennies (cents), nickels, etc. Great passtime going through thosands of coins. Get yourself some Whitman or Dansco Classic type Albums of these and try to fill them. As for coin comparisons in prices I would suggest going to book stores, flea markets, garage/yard sales and look for old issues of the Whitman Red Book. Then get the lastest 2007 edition off the Walmart Book store web site which is the cheapest I've found for that book. If you hit it big at the used Red Book findings they should only cost about a dollar. Then with older editions you could compare prices of all coins. I suggest starting off with Jefferson Nickels because not a great colectable item so there are still plenty still around. First fill an album then go to coins shows and stores and try to improve your set. A full set from 1938 to present is easy to fill and unfortunately not worth much. I always suggest to beginners to try to collect a little of everything to see what interest you the most as to value, availability, educational, etc. Hopefully there are some coin shows in your area. Going to a coin show is like going to Walmart where there is a little of everything so you can find out the most from people that, at leat pretend, to know a lot about coins. Good luck and welcome here.
Thanks for the response. I already picked up the 2007 red book. Great book by the way. Plus many other books pertaining to different coins , grading etc. I've probably read 12 books just in the last week. Very enjoyable reading... Unfortunately I'm in a rural area and not many coin shows come into town. I do however go to Las Vegas a good bit and sometimes California because I have family out there , but usually only once a year. I guess I should check coin show dates and try to go at those times. On the plus side there are a lot of flea markets and antique dealers where I live so I should probably check them out and see if I can find any good coins at a low price.
With a budget like that I recommend becoming familliar with the first tier grading companies (PCGS, NGC, ICG, and ANACS). $100 is the value where counterfeiters seem to focus their efforts, so it is in your interest to buy slabbed coins to avoid expensive problems (cleaning, dipping, artificial toning, subtly damaged surfaces, environmental damage, or alterations). Good luck and have fun!
