Young Collector Advice...

Here is a tidbit of advice for the younger/newer collectors...
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Collectors should focus on coins and not the plastic which they lie in. If a coin cost's $20 and you've got $40 buy two of them, save having to borrow another $20 to get just one slabbed...

 

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Or, instead of buying two, buy just one higher-quality coin.

 

Thats great advise and I agree with it. Buy the highest grade of coin that you can afford. If you're going for a VF set then like Ben said, buy two.

 

I dont usually strive for the highest grade, i usually look for the middle to lower (depending on price point) of coins/currency ... this usually enables me to buy more examples... maybe down the road, i will have enough of my collection done, and more money to spend where i can always go back and upgrade

 

I also like to do that...I like to make my sets complete with mid-range grades and then after that I'll start upgrading to nicer coins.

 

hear hear!

 

having a complete set of VF coins does not compare to only having a few high end AU or MS coins. quality trumps quantity. always buy the best coin you can afford -if you have $40.00 and an MS60 cost $30 and an Au $20 - don't buy 2 AU, by the MS. upgrading later will only cost you more money.

just my observations.

-Steve

 

I have to agree with this logic for a teen or young adult. Think about it. If you bought the highest quality coin for a specific collection, even if it comes out to only one coin a year, think about the type of collection you would have attained when you are thirty something.

It could be museum worthy.


But it might not be as much fun..depending on the individual.

 

See, thats what i disagree with .. following your logic, by the time i was 30 - well, i would only have 12-15 coins.. what kind of fun is that lol

it all comes down to the person... I know certain people love high grade coins as well as others, and others like the mid range (and then upgrade later) ... it totaly customizeable for each individual... collect what you like and as much as you like as often as you like.. there is no wrong way ...

 

I agree with your line of thought as well for that is the best thing about coin collecting, there is no wrong way for we all do it "our" way.

 

Most of the best buys seem to be at the very high end, and the low end. It's the middle that will hurt you. If you can't afford the "best," then you may want to seriously consider the "worst."

 

I think I would have to say...of course I agree that the slab is worthless plastic, If its in a slab for protection, fine...if its got some name and grade on it...the slab is still worth no more than the plastic its made of IMO...never bother with that. But get the best coin you can buy for the money. Dont set out looking to buy the worst or even mid...set out to buy the best you can get for the money. If you have to wait...wait...I think its a matter of patience and trolling sales and auctions...put a low bid in on something you like...you might be shocked when you get it for much cheaper because others didnt notice it...

Thats easy for me because I have a wide range of collecting interests thus if I cant find a Probus coin I want, I will go buy some world coins, notgeld, conders, whatever....For me there is always something I want and can get at a good price....

I honestly dont understand the logic of 'if you cant buy the best, buy the worst'...buy the best you can buy...if that is middle of the road...go for it if it pleases you...there are good deals out there IMO, but they most likely wont be in slabs with initials on it.

 

I have the patience, but to me, i collect coins and currency for their historical aspect along with the designs - i rarely buy anything that i think will someday appreciate in value enough where i would turn a profit by selling, i would have a hard time ever selling any of my collection.

Its alll about having fun to me, not making money or having the 'honor' of owning the top coin in a series. I dont own a single series of any coin/currency that is complete, and i have very little interest in completeing them - if it happens, it happens, if not .. no worries. I buy what interests me, and that changes day to day from coins to currency and to foreign coins.

Knowledge is the foremost in importantce in our hobby, patience is also important yes, but for you that might mean to wait a few years until the right grade/example comes to pass.. for me it means i have a set budget, if i find a coin that matches great, if not i move on to another coin. I have pateince, but i have the lack of desire (not patience) to wait a couple years in saving up to buy a ver high end coin.

I ask this -- whats the point in having a series of all top grade coins? They look shiney yes, but so do AU coins (although not as shiney). Is it the honor of having a series of all top grade coins? Is it that years down the road they will sell for a nice profit over the purchase price? If reselling is what you are looking for, then yes, by all means get the top most grades and complete a high end series. For me, I own it.. thats it, i just get excited that i own it, i dont care about the grade, i dont care it might be dirty or a bit worn. I have no desire to showcase my coins to anybody other then those who will just appreciate the coins for what they are - old or new and just plain cool.

The best thing a new collector should learn is never be afraid to ask questions, know as much about the coins you are interested in, so as to minimize the chances of buying fake or coins that would otherwise be worth les that presented (cleaned, altered or other)... and never let anyone tell you that how you are collecting is wrong. If they dont collect their way, it just might not be fun for them.

I step off my soapbox now and respect others opinions even if i disagree

 

Chuckle, My Kind of Collector

 

To me it just makes sense to want a coin in the best shape you can get...Not for bragging rights but just because I would think nice quality coins are just nicer than heavily worn ones. I like my coins to still have some relief and most of the details to them. I do not mind cirulated coins, pretty much every coin I have is circulated...and I prefer circulated coins to super shiny new ones to be honest but I do strive to get the finest quality for the lowest price I can... But to each his own certainly...

 

sorry, i wasnt trying to accuse you, i was just asking what the point was of collecting all top grades, turning a profit was just one possible example.

If i buy a coin in a mid grade range for $100 and someone else buys a top grade for $300 .. who spent less? down the road say 10 years, i sell my $100 coin for $200 and buy the $300 whcih is not $600 - if that happens i would have spent an extra $100 on my now top grade coin over the 10 years ... but thats if and only for those who might do any upgrades. If i never upgrade, then i am very happy with my purchase, and i spent less then the guy who is equally happy with his purchase of the top grade coin.

Im not saying the way you are suggesting is wrong, bad or wont work. I am sure if that is how you have assembled your collection, you are quite pleased with it. It is not, however, how i have assembled mine, and i bet i am equally as pleased with my collection.

It just proves there is NO wrong way, incorrect method or otherwise bad way to collect.

 

I speak from experience, you've got to keep kids interested and being able to get a (F-VF) coin every other week is much more interesting than one (XF-MS) coin every six months or year. That is one of the reasons the US State Quarter program has revived the hobby. They're inexpensive, raw, and easy to locate. As one gets older then specialization and upgrades will come. But when young, buy the best you can and the most you can at the time.

Trust me a kid will be much happier with two $20 dollar coins in 2x2 flips at the end of the day instead of saving six months for a $100 dollar coin.

 

to illustrate my point I was trying to make about being patient and looking for the best for the best price. Take my search for a Westfalen Notgeld (some might remember that thread)

I got it in my head I wanted an example of this coin, I went out to search for one and found poor example for cheap and very fine examples for more than I wanted to pay...but I didnt have patience so I went ahead and bought a real rough worn abused example of the coin for cheap.

It wasnt that long after that people started pointing me towards (or I found) several very fine examples for sale for just a fraction over what I bought the worn example for...they were just good deals. I ended up buying one of the better ones...so I ended up buying the same coin twice...if I had waited...I could have just bought it once and saved the money.

Certainly worn examples of some coins are all you can afford sometimes and you know it...but even then you want the best quality and least wear possible right? If it is between buying a heavily worn coin now for X amount of dollars or waiting...and spending a small percentage more for a coin that you might find that is quite a bit better but not that much more than the worn example (a good deal)...it just makes sense to go for the nicer example...I would think at least.

What if instead of buying that mid grade for 100...you were about to buy a batter grade for 150-200 because a good deal came along but you already spent money on the mid grade? I dont sell coins ever...period...so I want the coins I DO buy to be as good as I can get them...higher grade coins are not just for money...not for me at all as I have never sold a coin...its just about getting the nicest example of the coin I can for my money...I would rather wait, spend a bit more and get a good deal, then to settle and get a coin that isnt as pleasing to me...I just like my coins to be in as good of shape as I can get them...