What would you do... Now?

If you were to collect again from the beginning when you started, (Knowing what you know now) what would you do different? Would you have collected differently?

 

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I would do something that took me about 4 years to find out---when you find a coin you like start a collection of them---don't look at how much the whole set will cost to do, just start and you will find a way to do it somehow.
When I started I thought the only set I would ever be able to do was the Franklin Halves in cir. grades because they can be had for around $3 each on most---I liked IH Cents alot too but thought I could never afford the key dates---I wish I had just gone ahead and started the IHC and as time goes on I'm sure I'll find the keys.
Also---I would buy the BOOK before the coin---and buy the KEY DATES first--that way the common coins are easy to find!

Speedy

 

Start a collection of the coin I liked ,get as many books on the subject of that coin and get the key dates first.It is so easy to lose focus when you start a collection because you see something else and start another set and you end up with three or four different sets and none of them are complete.And be sure to study study study all you can about coins.

 

You mean like my partial collection of every denomination of foreign currency form every country?
or
You mean like my partial collection of every state (and Continental!) colonial currency?
or
You mean like my partial collection of various world coins? Of ancients? Of proof sets? World gold?
or
You mean like my partial album of U.S. type (Dansco 7070) ??? Hey! I'm close to completing this actually!

Yeah, it helps to have a focus, or you just want a bit of everything and heaven help you if you ever attempt to complete... everything.

 

I think education is key, but unfortunately in this game experience is a large part of your education.

I wish I could go back and start over with the wisdom I have today. I've have a great love for pre 1964 proof sets and BU year sets. I've wasted a lot of time and money with post 1964 coins that I can never recoop.

I think mostly I wish I could have started knowing to be patient and focused. I'd have more of what I REALLY love in coins today if I had.

 

Look for deep/ultra cameo US proof & SMS coins pre 1974. Modern Commemoratives in PR/BU 70. PR/BU 70 American Silver Eagles.

 

I'd buy every key date that I could afford, including duplicates.
In this way I'd have the pieces that have appreciated the most in value and could still afford the ones that I missed, by selling the duplicates.
When in doubt, if the price is at all reasonable, get the coin. He who hesitates loses, and someone else gets the coin.

 

I would stick only to the local shows and bought only from the local dealers and built up a great relationship. I would have saved a lot of driving time and a lot of money at the same time. Everything I wanted was at the local shows most of the time anyway. As for my collecting habits I wouldn't change a thing. I love my collection just how it is.

 

Old Silver has a great point.
Develop a relationship with local dealers, and at local shows. They are often willing to save special pieces for you, esp if you alert them to your want lists.

 

If one buys online from some of the coin dealers, most of the time one can check their customer satisfaction rating . I would look at how others feel about their dealing with them. I live so far from a local dealer that after the mint, this is the way i collect. Heck the guy I deal with knows the guy from " alabama." He should as much as i have bought from him lately. I am expecting a christmas card from them this year

Determine your budject, what you like, read all you can, listen to other knowledable people, (lots of good informatiion in coin talk) get their opions and make your choices.

something else what are you going to do with them after you have them. where will you put them. A small safety desposit box fills up real fast if there are many bulk items in you collection

 

I would have purchased fewer, but higher priced coins.

I wouldn't have collected some of the "oddball" items such as world gold or Canadian silver dollars because there isn't as large a collector base to sell them back to. It's fun to buy what you like, but paying more attention to what other people are likely to collect gives your collection more "liquidity."

I would never have collected any modern circulation coins. They take up space and probably won't appreciate much in value. I have difficulty parting with anything I've already collected, so now I'm stuck with them. Maybe I'll gift them to some young family members someday to get them started.

 

I agree with what you first said speedy- but I would change this to "Buy the key dates first if you can - BUT DO NOT let key dates stop you from starting a collection of coins that you like.". This is what I would change - I would not let the cost of key dates stop me. And yes I may never have the key dates or a whole collection, but I will at least have the collection I like. Heck - I will probably never complete my shield nickel collection. I will try, but the 1877,1878 and 1880 seem to be beyond my means for a few years. Or I luck into one like the 1879/8 that I got. As far as I can tell I might be able to complete a date Large Cent collection, but that will be about it. I still plan on looking.

 

I have to agree with Speedy. If you want to collect a series, buy the key dates first. If you don't either (1) you have less of a chance to complete the collection, or (2) the key dates might cost much more at a later date, raising the cost of the entire set. If you can't find or afford the key dates, it might be better to look at another series to collect.

 

i think i would have started with the lowest value coins first. or, i would have started on state quarters first.

 

I have quite a few mistakes in my collection.

I'm sure if I was to start again (man that would be hell) I would collect the same things I do now...but with less mistakes.

 

I just started getting into coins last year at about this time. I feel the mistake I made at 1st was getting to caught up in sets and having narrow focuses. I now feel do to my limited budget and curiosity, its better to do the research and get things that interest me. I see now _most_ sets are out of my price range and lots of them bore me, I want a little bit of everything. The only real set I am working on now is having at least one coin from every nation in the world. Its not pricey but I find it fun and thats what matters. Also I am working on the state quarters I like that also.

 

Well...after reading the above great ideas, I took the plunge and made my first big coin purchase. (Well big for me at the moment) I spent my first $150 on.........Various Coin Books! Let the studying begin!

 

Thats easy.... buy all the gold I could from 1960 to 1980....
Then I would have retired!!

RickieB

 

Congratulations! Coin books are a WONDERFUL thing. I have a few hundred dollars worth so far, and I happen to know for a fact that I'm getting at least two hundred dollars more for Christmas. I can honestly say that the books are, regardless of what you have in your collection, the most valuable thing you own. If you find a series you like, you can learn the less-well-known rare varieties and try to cherrypick them. This can be VERY profitable.

Best of luck to you, and if you'd like any recommendations, just send me a PM.

Fish

 

Thanks! PM on its way!