detz Posted September 7, 2005 Report Share Posted September 7, 2005 Here we go! 1.) I'm new, what's the easiest most cost effective way to start? Should I pick one part of coin collection and "master" that, learn everything there is to know about it and slowly move on? 2.) Good books to read on common coins. 3.) I have bullion...and now I want to sell it off and get coins instead but if I sell them on ebay I will actually loose money(sell for less than they are worth if I melt them) because of fees, any ideas on how to dump the gold? 4.) Is there a central site or sites that I can check prices to see if something is a good deal or if I'm getting ripped off, what's the best way to avoid being taken for a ride? Gold really intrests me so I was thinking of collection old gold coins. Any additional information would be appreciated, thanks! Link to comment Share on other sites More sharing options...
Tiffibunny Posted September 7, 2005 Report Share Posted September 7, 2005 Welcome detz. 1. Learning is the way to go, especially if you are interested in gold. As far as cost effective all you can do is research dealers to see who may have the best deals on what you're looking for. 2. http://www.amazon.com/exec/obidos/tg/detai...=glance&s=books The US Redbook is a good all around book for US Coins. Someone else may know of some good ones for gold. 3. I'll defer to others on this one. 4. To avoid being taken for a ride requires patience and research. There's no real site I can think of that can tell you exactly what prices are, there are sites and books that are general but most people use Ebay and greysheets for current market prices. Link to comment Share on other sites More sharing options...
Ætheling Posted September 7, 2005 Report Share Posted September 7, 2005 Here we go! 1.) I'm new, what's the easiest most cost effective way to start? Should I pick one part of coin collection and "master" that, learn everything there is to know about it and slowly move on? Just to clarify to ensure i am answering your question here, are you asking if it's best to specialise in one area of the coin world? If i've got this right then well i can offer some advice here. There are many types of collectors out there, two main heading you might come across are 'generalists' (who buy coins they like the look of regardless of what it is), and there's 'specialist' (people who focus on one or a select few areas instead). Although due to one thing and another, whether it be availability, time, finances or space to store them, all collectors have to draw the line somewhere. So all collectors specialise in one way or another, even if the specialism is in 'coins they like the look of'. From the information provided so far, you say you might be interested in gold coinage, which is on the road to specialisation itself (as non-gold is eliminated) this is a good thing if it's what you want because it helps give your future collection an overall focus and pattern to it. The next questions i would have to ask you any country in particular you'd like to focus on? Or perhaps one gold coin from each country? And how far back do you want to go with this gold coinage? (Ancient, medieval, early modern, modern)? All thoughts to consider. Another piece of advice it might be worth looking around on websites (through regular google searches) to see what is available out there and see if anything catches your eye. There are many gold coin denominations in existance; Double Eagles, sovereigns, guineas, 20 franc, Ducats, Nobles, Aureus, Louis d'Or, Unites... The list is probably quite endless... Link to comment Share on other sites More sharing options...
Ætheling Posted September 7, 2005 Report Share Posted September 7, 2005 Last note; Look around at what's available, do some background research. (That includes asking on here), say you take a shine to French 20 francs or something and you need to know more. Members on here could give you some collecting tips, some history on the pieces and point you in the direction of a good book on the subject and or price guide, if applicable. Link to comment Share on other sites More sharing options...
detz Posted September 7, 2005 Author Report Share Posted September 7, 2005 I love the double eagles, old(1800s) gold US coins I really like but they are $$$$! What I might do is start with silver morgans and treat myself to one gold coin a year. Just a quick look on ebay and prices range from $500 to $127,000 for the eagles, ouch! Then you get into condition, some rated, some not and the prices change by a lot. Would you recommend I go with already graded coins or mix them up and try to get them graded myself(which seems expensive too). Link to comment Share on other sites More sharing options...
Ætheling Posted September 7, 2005 Report Share Posted September 7, 2005 You know as much as i love the Double Eagles myself (especially the liberty coronet head types) i think it might be worth your while considering European gold coinage. You can buy late 1800s and early 1900s stuff (real gold coinage) for close to bullion price. For $127,000 you could have a full date run of British sovereigns from 1900-1932 in EF. Link to comment Share on other sites More sharing options...
gxseries Posted September 7, 2005 Report Share Posted September 7, 2005 Hm, I really wonder why no one mentioned this yet. Picking up a Krause might help if you are into world coins. That will solve 3 out of 4 questions there. About bullions, the fact is, not too many people are willing to pay 100% of the current market value price! Suppose if gold is around 400USD per ounce, you might expect around 380USD or so. Do expect silver to be worse off, unless you have large 10+ oz. silver bar, which is another story. Link to comment Share on other sites More sharing options...
detz Posted September 7, 2005 Author Report Share Posted September 7, 2005 You know as much as i love the Double Eagles myself (especially the liberty coronet head types) i think it might be worth your while considering European gold coinage. You can buy late 1800s and early 1900s stuff (real gold coinage) for close to bullion price. For $127,000 you could have a full date run of British sovereigns from 1900-1932 in EF. Only $127,000? Link to comment Share on other sites More sharing options...
gxseries Posted September 7, 2005 Report Share Posted September 7, 2005 You can buy a house with US127,000 in some countries... Link to comment Share on other sites More sharing options...
Ætheling Posted September 7, 2005 Report Share Posted September 7, 2005 Only $127,000? I lied, British sovereigns sell for about $120 in EF. So realistically you'd be looking at $4000 for a full set (ignoring mintmarks). That better? Link to comment Share on other sites More sharing options...
gxseries Posted September 7, 2005 Report Share Posted September 7, 2005 AEtheling, did you try to scare newbies away so that you can keep them away from raising the prices? So mean Link to comment Share on other sites More sharing options...
Ætheling Posted September 7, 2005 Report Share Posted September 7, 2005 Nothing so cruel GX afterall i don't collect sovereigns (anymore). Compare it with how much it'd cost to get a full set of US $10 pieces from the same era in EF. $4000 wouldn't even be close! US gold coins are VERY expensive in comparison. Link to comment Share on other sites More sharing options...
gxseries Posted September 7, 2005 Report Share Posted September 7, 2005 lol @ (anymore). Yes, I must agree that it's a lot cheaper compared to trying to collect the whole set of US gold coins That is one reason why I haven't even touched a single gold US coin... just in case it becomes highly addictive Link to comment Share on other sites More sharing options...
detz Posted September 7, 2005 Author Report Share Posted September 7, 2005 I think I like the US market because I know the coins...well, they make sense. When you get in Europe there are lot more coins, older coins, and I know nothing about them. I guess this is half the fun though, right? I read in another thread about really old coins...someone had a picture of en egyption coin or something. How rare/expensive are these? Link to comment Share on other sites More sharing options...
Ætheling Posted September 7, 2005 Report Share Posted September 7, 2005 Dunno i haven't see that one! (I don't read everything on here!) Unfamiliarity with foreign coins can be daunting, but it can be fun too... At one point the only coins i would collect were British. Now i seem to spend more time buying French, German and US coins! Really old coins? There's a few ancient coin collectors on here, and i'm known for my medieval coin obsession! Link to comment Share on other sites More sharing options...
Trantor_3 Posted September 7, 2005 Report Share Posted September 7, 2005 there are ancient coins that are extremely expensive, there are also ancient coins that you can get for only a few dollars, if not less. I have a roman coin that's about 1600 years old and I got that asa "free" extra in a lot of "unsearched" coins at ebay. I payed about $10 for the lot, so this roman coin can't be worth a lot Link to comment Share on other sites More sharing options...
Ætheling Posted September 7, 2005 Report Share Posted September 7, 2005 Roman coins are good value for money. I favour the silver ones myself. Link to comment Share on other sites More sharing options...
Brett Posted September 7, 2005 Report Share Posted September 7, 2005 Another option to look at is if your local dealer will trade coins for the bullion you currently have. You may be able to work out some kind of deal. It wouldn't hurt to at least ask. Link to comment Share on other sites More sharing options...
28Plain Posted September 7, 2005 Report Share Posted September 7, 2005 Brett's suggestion is a good one. Offer to pay a local dealer in gold instead of paper. Tell him you'll pay in bullion coins at spot for his stated asking prices, no haggling. A dealer's markup is going to be better on most of his coins than his margin on buying bullion, so don't fall for any sob stories. Stay away from ebay until you know the venue and the market a whole lot better. You can buy coins from members here once you get to know us. Ask questions and you'll usually get some useful answers. Those are my suggestions. Welcome to the forum. Link to comment Share on other sites More sharing options...
Monster110 Posted September 7, 2005 Report Share Posted September 7, 2005 Hey detz. Welcome to coin people. In my opinion, you should start on a common coin type. for example, US nickels :: , pennys, quarters or dimes. Or a coin coin from where you are. Link to comment Share on other sites More sharing options...
detz Posted September 8, 2005 Author Report Share Posted September 8, 2005 You guys only deal with coins...I have about 500 $2 dollar bills, some old, some new, some in order. I was thinking of selling these off and get coins instead, bills are boring. Any ideas on this? Link to comment Share on other sites More sharing options...
detz Posted September 8, 2005 Author Report Share Posted September 8, 2005 remove repost. Link to comment Share on other sites More sharing options...
bobbycoin Posted September 8, 2005 Report Share Posted September 8, 2005 You guys only deal with coins... Incorrect... Notice we have a Banknote Forum I have about 500 $2 dollar bills, some old, some new, some in order. I was thinking of selling these off and get coins instead, bills are boring. Any ideas on this? Depending on the date... condition... and a few other things, you might be able to sell them in the advertising section of the forum here. Any of them Star Notes? Also you could get in contact with MrMcDoo, he is the resident Note expert. Oh and banknotes are not boreing... you're just looking at US bills -Bobby Link to comment Share on other sites More sharing options...
Burks Posted September 8, 2005 Report Share Posted September 8, 2005 Oh and banknotes are not boreing... you're just looking at US bills -Bobby I agree with Bobby on this one. Before I cam here I was mainly a coin collector and nothing else. After seeing some of the notes offered for sale here and checking out various member's websites, the note collection has expanded. Before I had maybe two or three different countries but now I am approaching thirty. There are some wild notes out there. Check out McDoo's website along with San Miguel98's. Both contain LOTS of banknotes. Link to comment Share on other sites More sharing options...
Sir Sisu Posted September 8, 2005 Report Share Posted September 8, 2005 ....There are some wild notes out there. Check out McDoo's website along with San Miguel98's. Both contain LOTS of banknotes. Do not forget OmniCoin's sister site banknotebank.com Link to comment Share on other sites More sharing options...
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