t$$$ Posted September 28, 2005 Report Share Posted September 28, 2005 I'm just starting a collection, where do I go to find the best deals? Link to comment Share on other sites More sharing options...
bobbycoin Posted September 28, 2005 Report Share Posted September 28, 2005 Wow, thats a doozy of a first question. It really depends on what you are going to collect. but I will tell you this and many many other members will back me up... KNOWLEDGE IS KEY If you are just starting out you should buy some books first. If you are into US coins I suggest The Red Book. Not for the prices but for the knowledge in that book. Once you have a knowledge of the coins you are interested in, then you will start looking for where to get "deals" Welcome to the forum, stick around, I guerentee you will learn lots about coins and maybe even make some friends -Bobby Link to comment Share on other sites More sharing options...
gxseries Posted September 28, 2005 Report Share Posted September 28, 2005 P.S. If you are thinking of collecting coins as investments, may I first remind you that quite a fair bit of genuine collectors here will detest you Nevertheless, I guess looking around will never hurt. eBay is getting a bit too steep in my opinion though, you might want to take a look at your local coin store first and compare the prices. Link to comment Share on other sites More sharing options...
t$$$ Posted September 28, 2005 Author Report Share Posted September 28, 2005 Is it safe to buy from an auction site, or is it better to go straight to a collectors homepage or store? Link to comment Share on other sites More sharing options...
gxseries Posted September 28, 2005 Report Share Posted September 28, 2005 If you are not too sure of the reputution from the site you are going to buy from, ask here and chances are there might be people who bought coins from them before. You can't just assume that all online deals are bad nor good either. Link to comment Share on other sites More sharing options...
bobbycoin Posted September 28, 2005 Report Share Posted September 28, 2005 It depends on the auction site There are A LOT of scams on auction sites, but there are A LOT of good deals also. This is where learing about what you are buying comes in, you need to know what to look for for the good deals. My suggestion... stay away from EBAY 'til you know what you are doing. Learn by asking, not the hard way. If you are thinking about bidding on something, maybe post some info about it here, we can tell you if you would be getting a deal or not. Dealers are awesome, we have some dealers that frequent this forum. They can be helpful becasue they are a walking welth of knowledge.... and they have the hook up on some cool coins If you have a shop localy I highly suggest going in and talking with the people there. Shops are usualy friendly and you can ask any questions before you buy. Hope that helps -Bobby Link to comment Share on other sites More sharing options...
t$$$ Posted September 28, 2005 Author Report Share Posted September 28, 2005 I'm really into older coins PCGS/NGC rated coins. I've noticed some at Overstock.com Auctions. Have you ever bought anything there? I've noticed quite a variety, some really expensive 42K and others for 15 dollars. Link to comment Share on other sites More sharing options...
t$$$ Posted September 28, 2005 Author Report Share Posted September 28, 2005 First off, before I go any farther I want to tell you thanks for the help. It's been beneficial so far. My next questions is, are you involved with any associations such as AMA or WINS? If so, is it necessary? Link to comment Share on other sites More sharing options...
Burks Posted September 28, 2005 Report Share Posted September 28, 2005 Here are a few tips that I followed and now I consider myself to be an "average" collector. #1. Buy/borrow a Redbook. Personally the '06 is the best one yet. That thing is being used so much I may have to purchase a backup copy Most public libraries carry a few of the older ones. An old one is better than none at all. #2. Well you already did this one. Join a forum. Here at CP we are a family. Don't be afraid to ask questions here. Everyone that is a member came here to learn and/or help others. #3. Go to a local coin shop and just browse. You don't have to buy anything but this will give you an idea of how coins wear, the variety of different coins, and some general ideas on pricing. Online sites like www.omnicoin.com is a great place too. #4. Slabbed/graded coins are often overpriced. You really pay for the holder and name of the company. Yes I do own a few slabbed coins but they are for reference mostly. That way I have a good idea of what a VF Walker is and I can compare that to a raw coin to determine grade and value. #5. I would say hold off on auction sites until you have a decent grasp of grades and values. I know people here say the price of a coin shouldn't determine whether or not you buy it but....there are times when money does become an issue. Just be smart. #6. CP is a great place to purchase coins. Corina holds world coin auctions all the time. You can't beat paying less than $2 for some great coins! I've done maybe $200 worth of deals on here in the short time I was here. I nearly doubled my collection and added some very entertaining pieces. Blackhawk normally has inexpensive world coins. Just browse around and see what is offered here. Andybruce has a great site with thousands of world and US coins listed. #7. Really not a tip but more of a question. Do you want to collect mainly US coins, world coins, or a mixture? If you decide on world coins you can find some crazy deals because they do not have the following like US coins. I personally have a mixture of coins ranging from US slabbed Morgans to German Pfennings. I'm sure I missed a few things but these are tips I used to help myself become a better collector. The size of your collection doesn't mean you aren't a true collector Link to comment Share on other sites More sharing options...
geordie582 Posted September 28, 2005 Report Share Posted September 28, 2005 KNOWLEDGE IS KEY The best information you will ever get! Try a wide field before specialising and don't be afraid to ask if in doubt! Link to comment Share on other sites More sharing options...
Guest 50cents Posted September 28, 2005 Report Share Posted September 28, 2005 I will tell you one thing. Great deals are few and far between on ebay. You will get what you pay for. Ebay is a dumping ground for problem coins. If you let us know what coins you are interested in , somebody will let you know of a good dealer. Just my 50cents Link to comment Share on other sites More sharing options...
t$$$ Posted September 28, 2005 Author Report Share Posted September 28, 2005 I've noticed a lot of baggage about ebay in numerous forums, so I am a little hesitant about auction sites. However, I did look at Overstock.com Auctions and notice quite a selection. What do you think/know here is a link Overstock.com Auctions Link to comment Share on other sites More sharing options...
Guest 50cents Posted September 28, 2005 Report Share Posted September 28, 2005 Superior is a well known company with some great coins. I say BUY AWAY..... Link to comment Share on other sites More sharing options...
syzygy Posted September 29, 2005 Report Share Posted September 29, 2005 I'm just starting a collection, where do I go to find the best deals? The bookstore. Link to comment Share on other sites More sharing options...
Dan769 Posted September 29, 2005 Report Share Posted September 29, 2005 Believe what they say, buy books and read em, go to show and just "look" don't buy(very difficult to do). Learn to look at a coin and grade it within the first few seconds. Wish I had done all that Link to comment Share on other sites More sharing options...
LostDutchman Posted September 29, 2005 Report Share Posted September 29, 2005 The worst mistake you can make is to start spending lots of money before you REALLY know what you are buying....first of all go to the bookstore and buy books on coins....they will pay for themselves for the money they will save you. ..next you might want to decide on what you like and want to collect....there are lots of coins in the world and it would be very hard to collect them all... you can collect whatever you want.... but it is recommended that you narrow your vision... Next visit local dealers FIRST they have lots of knowledge and unless they are just complete jerks, they are willing to help. The internet is full of pitfalls for inexperienced collectors.... If you have any more questions I will be happy to answer as many as you have. Link to comment Share on other sites More sharing options...
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