Jump to content
CoinPeople.com

Questions from a Newbie in Kansas City


Recommended Posts

Hi Everyone,

 

I'm a new coin collector from the Kansas City area. I'm starting witha bags of old Morgan dollars, some buffalo nickelthas and two "trimes" given to me by my great Uncle Harvey. I have a few questions for the more experienced collectors. What is the difference between the Red Book and the Blue Blue? What are some of the more reputable auction houses around the U.S. for coins? Do any of you have experience with coin dealers in the Kansas City area? I having been perusing the on-line auctions but you are at the mercy of the photographer. I have purchased a couple of coins this way but I don't think I would make a habit of it.

 

My husband recommended forums for learning about my new hobby. I'm excited to read what the experienced collectors have to share.

Link to comment
Share on other sites

hello and welcome to coin people.

 

Congratulations with starting with bags of Morgans, these are the most collected and appreciated coins to collect.

please post some pics of the morgans and buffalos if possible.

 

Looking forward to seeing the collection grow.

 

Tom

Link to comment
Share on other sites

Welcome to CoinPeople. Starting with bags of Morgan dollars is WOW! :shock: Glad you've decided to join us. I'd love to see photos of the "keepers" you extract from the bags.

Link to comment
Share on other sites

Hi Everyone,

 

I'm a new coin collector from the Kansas City area. I'm starting witha bags of old Morgan dollars, some buffalo nickelthas and two "trimes" given to me by my great Uncle Harvey. I have a few questions for the more experienced collectors. What is the difference between the Red Book and the Blue Blue? What are some of the more reputable auction houses around the U.S. for coins? Do any of you have experience with coin dealers in the Kansas City area? I having been perusing the on-line auctions but you are at the mercy of the photographer. I have purchased a couple of coins this way but I don't think I would make a habit of it.

 

My husband recommended forums for learning about my new hobby. I'm excited to read what the experienced collectors have to share.

 

Wow bags of Morgans, nice! My understanding is

Red Book is the retail price you would pay from a dealer

Blue Book is what the dealer would pay you (wholesale price)

Grey sheet is dealer to dealer (wholesale)

 

These can be useful guides, but prices do change quite often so they may not be as reliable as a updated price list.

NGC.com has a updated price list for NGC graded coins. This might be a more reliable way to find out the value of your coins

Link to comment
Share on other sites

Main thing is be patient and take your time going through them. If they are loose in a bag I would first move them to flips to help keep down dings. If they are already in flips I still would think about changing them in case they are older ones which might have pvc. Also do a first run writing up the date and mint mark for each flip. A fairly easy way to keep score of what you have is just get a redbook and make a tick mark by each one in the book. That way you can get a fast idea of all the coins. Now this is according to how much you want to get in to it. A lot of coins have different die combinations or errors and they may command a premium price. Taking your time can make you money if you ever decide to sell. Also whether these are to be passed down, sold, or continuing collecting more having them researched and organized is a good idea.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

×
×
  • Create New...