Any specific country you would recommend? I think I will start my collection off with a U.S. coin, but I'm not against buying a foreign coin if it has a cool bit of history behind it, and if it's the right price of course. Is a complete set of Eisenhower dollars just one Eisenhower dollar from each year they were made? Or would a complete set include other things like variations, error coins, etc.? I can definitely see where you are coming from, but the particular coin shop I had in mind when I wrote that post was one that someone had told me a story about. Basically, the guy told me that he walked into the store and they told him to come back at a later time because it "wasn't a good time", so the man left and came back a few days later and when he walked in they told him he wasn't dressed like a man who had money to spend on coins and that their coins were only for people willing to actually pay. Of course, this story was probably mistold because the man it actually happened to was the one who wold me about it. But I've looked up some reviews on this particular store, and they're not so good, so I think I'll steer clear of it.A And is this book in the Amazon link below the "Red Book" that you guys are referring to? I see they have spiral versions and hardcover versions, and apparently one for each year. http://www.amazon.com/2012-Guide-Un...B8/ref=sr_1_11?ie=UTF8&qid=1324441141&sr=8-11
Yes, that is the Redbook, that is usually great for a general knowledge, but a lot of the dealers use the Coin Dealers Newsletter, aka the greysheet, but that comes later for me.
Found a pretty cool website that is all about the Eisenhower Dollar. From what I've read so far it seems that the first production for these coins began at the San Fransisco mint, so I figure that would be a good place to start. I'm not 100% sure if the Eisenhower Dollar will be my first purchase (and I'm still open to suggestions), but if it is, I think I will go with a 1971 from the San Fransisco mint, like I said above. If I do go with the 1971 Eisenhower (or possibly another coin), what should I be looking for when I buy it? If I'm understanding it correctly, the ratings of MS60-MS70 are ratings based on the blemishes and markings on the coin, with MS70 obviously being the best. But in order to have a coin given a MS value, do they have to send them into the PCGS? Because I've seen some auctions that advertise them as PCGS coins with MS ratings, and other auctions that advertise them as having MS ratings, but they make no mention of the PCGS. I'm going to order the Red Book and look through it before I make my purchase. I've noticed some of the coins come in these little plastic containers that I assume are to protect them from everyday wear - do these containers come from the PCGS after they've looked at your coin, and do you guys recommend I buy a coin that comes in one of these containers? If so, how much more should I expect to pay for one? Sorry if this seems like a lot of questions at once, but I really appreciate all the help everyone is giving.
So the grading scale is on a 70 point scale, 1 being like taking a belt sander to a coin, and 70 being an absolutely perfect coin. Though just guidelines, we are always preaching "Buy the coin, not the slab." Almost everybody on this forum can't tell you the difference between a ms69 and ms70, me being one, but if I were you, I would try going to banks and asking for "unusual large sized dollars" I have found a total of 6 Ikes that way.
There are 2 major third-party graders, PCGS and NGC. You send your coin in for a fee, and the company encapsulates the coin with a grade on it. They are called slabs, and if you look on ebay, you will see slabbed coins available. Now, PCGS slabbed coins have a slight premium over NGC slabbed coins, but they both are very reputable. As Cazkaboom said, coins are graded from 1 to 70. 1 being terrible and 70 being absolutely perfect. Knowing how to grade coins is one of the most important things to know. If I were you, I would start by understanding how to grade mint state coins (MS60 thru MS70), because Ikes are readily available in that condition. The saying "Buy the coin, not the slab" is extremely important. For example, not all MS65 graded coins are the same. One may be extremely ugly, but the other coin could have the best rainbow toning there is. What I'm trying to say is that not all coins are alike. It is best to look at the coin carefully before purchasing it. Before you do that, stick with asking the bank, or go to a local coin show to buy coins, until you have a better understanding of what you are collecting (If you don't know what I'm talking about, you can ask as many questions as you like, or you can look up what the words mean)
Readily available in that condition, but the price shoots to the stars on many dates with a grade MS67 or higher. (or at least in my pocket terms)
Especially when you find something like this: http://www.ebay.com/itm/1973-S-EISENHOWER-NGC-MS69-HIGHEST-ONLY-COIN-/320482563048?pt=Coins_US_Individual&hash=item4a9e3fd3e8#ht_500wt_1127 NGC puts a value of $4130 for its only MS69 graded coin.
Good Lord, where to start ? You may end up hating me if I even do start France, Spain, Netherlands, Germany, Italy - take your pick ! France - coins from the man who was the subject of the The Man in the Iron Mask, The Three Musketeers, who became King at the age of 5 and reigned for 72 years, who turned France into the greatest power in all of Europe. These 2 coins cost me about $30 each - Or you could go with a coin like this - Struck in 1364, specifically to pay the ransom for the King of France who had been captured in battle by the Black Prince of England during the 100 years War. Probably beyond your budget, but talk about history ! I could do the same thing with any of the countries mentioned above. The Netherlands produced a coin starting back in 1586 that literally changed the world. And that exact same coin is still being minted today over 400 years later. Or coins from Spain, and the Spanish colonial mints. Coins that were minted at the very first mint in the entire New World. Coins that are found on shipwrecks, coins that served as the first currency used in the American colonies and well after the USA was founded. Many of those coins can be bought for less than $50 each. Coins from Germany that were the first silver dollar in the world. Coins that commemorated the Protestant Revolution and the very creation of the Lutheran Church. Coins from Italy where the same design was minted for over 750 years, the first ducat, arguably the most important coin in the history of the world. I could go on and on and on. That is just a tiny taste
Nearly everyone I know that collect coins, including myself, started with Lincolns. And at the moment Lincolns are the only series I actively collect. As ubiquitous as Lincoln coins are, putting together an world class collection can be a life long endeavor. I am always looking to upgrade individual coin and have no problem busting out '09-S dvb's and '22 no D's, or any other key date to add to my Dansko album. They certainly look better in a Dansko than they do in a slab! I doubt I'll ever be satisfied with the set, which is fine with me.
I can say I started with the lincoln cent, and it is such an endeavor not to quit. Though I like it, I hate collecting it because my wallet is like that sick cow where you can see all the bones. I need almost all of the key dates and non-keys, but I have the 1940-58 (Minus the '55 DDO) filled completely, now to just upgrade them to all UNC and proofs.
Thanks for all of the info on the grading. Question, how much of a difference is there between a MS64 and a MS65? Are we talking minimal differences, or are the differences able to be seen by people who have enough experience (like some members of this forum)? And I've definitely noticed what you mean about not all MS65 coins being the same. I've been looking through eBay at some and I've seen some that are very clean and clear, and another that looked like it had a bunch of dirt and residue dried up on it. But both had been rated MS65 by the PCGS. Now when you guys tell me to go to the bank to ask for coins, should I be expecting to get ones in good quality? or will they be in similar quality of an everyday coin that I would find in a cash register? Thank you for all of that info! It was definitely interesting to read and I spent about an hour trying to find some of the coins you were mentioning. That gold coin that was struck for the King of France sounds like it's the most interesting one, but you're probably right about it being out of my price range.
Can any of you give me a ballpark estimate on how much I should expect to spend on 1971-S Eisenhower Dollar with a rating of MS65 by the PCGS? How about MS64? I was watching 3 auctions of those coins, but MS66 ratings, and they all sold for $48-$52. Do you think I'd be better off going to a coin store for that type of coin? And I think I'll be picking up my copy of the Red Book either tomorrow or Friday from Barnes and Noble.
The 1971-S is only in the silver clad alloy, so a MS65 is around $32, but a PF65 is around $16 according to PCGS price guides. http://www.pcgs.com/Prices/PriceGuideDetail.aspx?MS=1&PR=1&SP=1&c=31&title=Ike+Dollar
Usually the 1-point difference could be by a slight blemish, maybe even a slight nick in the fields or even worse, a nick in the face, just the slightest mark can bring a grade down. Chose what you like best and what looks best to you. Chose the coin, not the slab, and then you will fall in love with the coin, and not fall in love with the slab and have to put up with the coin that is like a snooty ex wife.
I've been finding some coins that have been advertised with "p752" or "p753" in the title. What does that mean? An example of one I found is below. http://www.ebay.com/itm/1971-S-PCGS...94?pt=Coins_US_Individual&hash=item1c1fd16582 As far as finding a 1971-S with a rating of MS65 for close to $32, this is the one I found closest to that price, but I'm not a fan of the marks on the face, so I think I'll wait for another one to be posted. http://www.ebay.com/itm/1971-S-PCGS...94?pt=Coins_US_Individual&hash=item1c1fd16582
As for the P753, I will admit I have no clue. not a KM# or anything on Page 753 (there isn't one) in my redbook either.
Here, if they are PCGS Certified, just look up the cert # here: http://www.pcgs.com/cert/ if they are NGC, look them up here: http://www.ngccoin.com/certlookup/index.aspx Hope this helps! ~Cannyn
The '71-S should be fairly cheap in proof rather than unc. http://www.ebay.com/sch/i.html?_nkw...er+pf64&_osacat=0&_trksid=p3286.c0.m270.l1313
