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Brand New To Coin Collecting


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Hello All,

 

My name is Kristofer and I'm new to coin collecting. It started when I decided to start purchasing silver to hedge against the deflating american dollar. I started reading a lot more. Whil I know very little, I think this is a very fun hobby. I love all of the history involved. I look forward to learning lots by reading your posts, and maybe someday getting my hands on some very nice ancient coins. I love egypt, so I think that might be a fun endeavor. I'm starting with American Coins first just because there is so much knowledge readily available.

 

Are there any tips anyone can suggest to me in purchasing coins, or some good rules of thumb so I don't get taken advantage of? :ninja:

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Kristofer,

 

A warm welcome to the forum from Clive in England. ;)

 

Tips: Do your research on the coins before you purchase.

 

Ask for detailed photos if buying online.

 

Look for signs of it havening been polished or extensively cleaned.

 

Get a price guide to make sure you're not being ripped off.

 

But most importantly HAVE FUN! :ninja:

 

Regards,

 

Clive.

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Thank you for the warm welcome. This is all really exciting. I read more and more and It just makes me more interested. This hobby is so rich in history. :ninja:

 

do you prefer red book or blue book?

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I collect Medieval English hammered coins dating back to 600 A.D. so I haven't a clue which book, but my favourite colour is blue... :ninja:

 

Some other collector will be along shortly to answer that query!

 

All the best,

 

Clive.

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Hi Kristofer, the best way to buy them is in job lots if it's profit you want - apart from that you should just concentrate on what you like most as you will pick up information fastest that way, as well as getting the most out of the hobby...

 

Oh and welcome to the forum! :ninja:

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Welcome to CP and to our wonderful hobby. Red Book/Blue Book are nice for information. The prices go out of date quickly - the 2008 book was probably priced last summer. Silver/gold especially are out of date because of the recent price run-ups. If you want to collect starting with US and are still interested in silver as an inflation hedge, you can combine the two. There are many US coins that can be had at or near silver melt value but usually not pristine examples. I personally like circulated coins so this causes no problem for me.

 

Roosevelt dimes are readily available at melt value as are common Mercs. Just have fun.

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I agree with art. The roosies are all melt for the most part and a lot of the mercs are too. Another thing you might like is "junk" silver dollars. These are worn examples of common dates and if you can find a good dealer you can get them for pretty close to melt. But before you buy a coin... make sure to ask questions if you dont know something.... This is a great place to start learning... take pictures of your coins and we can give you our thoughts and opinions. Also buying coins from board members is a great safe way to buy coins. We are all a big happy bunch and try to weed out the riff raff so it is a safe place to buy and sell. If you have any questions please feel free to post them and we will do our best to help :ninja:

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Wow, This is a really friendly group of people. I feel very privileged to be so warmly welcomed! I hope you all are having a wonderful day! :ninja:

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