What I've Learned

Discussion in 'Coin Chat' started by Gregg, Jul 11, 2018.

  1. Gregg

    Gregg Monster Toning Supporter

    After being away from the hobby for a long time - and having never really read up on any part of it - I can tell you that I've learned some really good things on this site so far.

    #1: I appreciate the general consensus here about pricing. While there is a very relaxed attitudes (nobody really cares what you choose to pay for a coin) there are some very strong opinions about what a person should pay for a coin. Learning that auction results/history/and comparing conditions of coins sold at auction is invaluable. (1)

    #2: I'm shocked at the level of expertise one can accumulate in this hobby. I didn't think there was that much knowledge even available on a given coin minted on a given year. (let alone identifying dies, crazy) There is collecting coins and then there is knowing a series - wow, what wildly different things.

    #3: I was disheartened about fakes and I began to look into this problem. I found this article: https://coinweek.com/counterfeits/counterfeit-coin-detection-the-1928-peace-dollar/ that gives me a little bit of hope. Again, I'm blown away that some people are so familiar with the surface of a coin that they know these things. You can bet I'll not buy a 1928 until I can effortlessly identify some of the tells of a fake.

    Anyways, I'm amazed at how in depth a person can go with even the simplest of series.
    Thanks for the help.


    NOTES
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    1. This simple practice is already saving me money. It removes the 'hype' from a sale by grounding me in what others are actually willing to pay for a coin. As simple as this is there is no better way to gauge the value of a coin.
     
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  3. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    You also learned that it's not all about the "getting", but rather the studying and the hunt.

    At the same time, there's thousands out there who are about the "dreaming" about the "spending" of the money they'll make after "selling" what they're "finding" in circulation. We call these people really unattractive names.
     
  4. Clawcoins

    Clawcoins Well-Known Member

    Ditto. on all 3 points.

    I don't "hunt". I look at filling in certain aspects of my collection. I don't care about "hunting" myself. I have piles of pennies (ok, cents) but I'll never go through them. I really don't care to. There just there as a habit with instructions in my will of just cashing 'em all in.

    I love the designs of certain coins. That's my drive for the hobby.
    and I'm learning along the way, even of the vulnerable scent. (<-- mispelled on porpoise).
     
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  5. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    I find an almost melancholy feeling when a long-sought piece is actually acquired. I know what it is - I have to decide what's next, and that's hard work.
     
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  6. tommyc03

    tommyc03 Senior Member

    You would love the ending of Potter's latest write up in NN of a new discovery of a 1992D CAM cent. Free advertising for "Strike It Rich...".
     
  7. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Ken and I are on incompatible astral planes. Those books are pure evil.
     
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  8. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I experienced exactly this when I finally was able to purchase my first St Gaudens many years ago. That was a pinnacle for me back then. And I very much wondered to myself.. What can possibly follow this?
     
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  9. Collecting Nut

    Collecting Nut Borderline Hoarder

    Another St. Gaudens Randy!
     
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  10. ldhair

    ldhair Clean Supporter

    I finished with any types of sets. Did that most my life. Last year I bought 3 coins. This year I'm up to 5 coins. I only want something that is really pretty to me. Quality and not quantity. Wish I had gone this direction 40 years ago.
     
  11. TheFinn

    TheFinn Well-Known Member

    Someone on here has a quote about the difference between a coin collector an a numismatist - the numismatist spends more on books than coins. True numismatists study coins - the minting process, a particular series or a type, the designer/engraver, etc. I had a shop once, and one of my best customers went from U.S. coins, to foreign coins, to medals, then ancients and many other things. He got the bug and wanted to learn more. Not all do, and that is ok, but there are some that are much more knowledgable about certain aspects than most dealers. Use their knowledge that is freely offered.
     
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