Gump Posted June 24, 2005 Report Share Posted June 24, 2005 Hi I'm new to collecting coins, I'm 20 years old and a total newbie at all of this. I'm just a college student to so I have no money to be a serious collector, just modern US currency. You probably all think I'm stupid for even bothering, because you all seem like pros to me. I'm so stupid I even shined all my lincoln pennies with brasso this week, was so proud of the shine, then learned that it killed the value (well....not like they had any). But basically I've got a few questions..... 1. I don't have any coin shops near me. Is just going to the bank and getting rolls the best I can do? And car wash change machines as another source for quarters? 2. For uncirculated modern coins, if they're taken out of the roll, are they considered no longer uncirculated? Like for instance, if I get a roll of uncirculated Lincoln pennies for each year off of ebay, and open the roll to remove one to put in a book or display, does that mean that the ones in the roll or the one that I placed in display is no longer 'uncirculated'? 3. I've found some circulated state quarters that look so fine under the mag. glass, no knicks, dents, scratches, or anything to the ridges either - they could pass for uncirculated. How can one tell that they aren't? Just by it not being in a roll? 4. When deciding which coin to keep and which to ditch, what are the major things to look for first that diminish value? Scuffs to the face? Horizontal scratches? Crap on the coin? Knicks on the ridges? What reduces its value the most or least? Thanks so much...I hope I'm accepted here even though I just collect modern US coins for fun!!! THANKS! Quote Link to comment Share on other sites More sharing options...
Gump Posted June 24, 2005 Author Report Share Posted June 24, 2005 Oh yeah...what's the point of proofs? I just don't get them. Quote Link to comment Share on other sites More sharing options...
Art Posted June 24, 2005 Report Share Posted June 24, 2005 Taking a coin out of an uncirculated roll doesn't make it or the roll circulated. The only thing that will make it circulated is detectable signs of wear from being handled and used. Looking through rolls is a lot of fun and can produce some very interesting finds. You can find errors, old coins that are no longer in circulation. Some "modern" sets can be completed or nearly so, from circulation/rolls. Kennedy Halves are a prime example. Get rolls from the bank and fill in the holes in your Kennedy folders. Constantly upgrade the real dogs in the collection. Being located near a college sometimes means that the bank change will hold treasures not found in other places. Students get hungry, need car repairs, date money, etc. Good luck and enjoy yourself. Quote Link to comment Share on other sites More sharing options...
Burks Posted June 24, 2005 Report Share Posted June 24, 2005 To me the point in proof coins is to admire the beauty of the coin as it was meant to be. Others see it as an investment. Kind of like taking the Mona Lisa and having it pass through thousands of people's hands, it won't have the same detail or beauty it had right after it was painted. Quote Link to comment Share on other sites More sharing options...
joanjet Posted June 24, 2005 Report Share Posted June 24, 2005 Hey Gump and welcome. You have found a good place to make friends. Some of us are very experienced, and others newbies like you. So do not worried about being accepted. You already are! Me - I am somewhere in between! Quote Link to comment Share on other sites More sharing options...
Mediccoin Posted June 24, 2005 Report Share Posted June 24, 2005 Welcome aboard Gump Quote Link to comment Share on other sites More sharing options...
16d Posted June 24, 2005 Report Share Posted June 24, 2005 Howdy Gump. For SQ's, your best bet are bankrolls. Where we live, it wouldn't be a stretch to put 80% of a set together in an afternoon. If you're looking for a particular state, send me a PM. Brasso?....OUCH! What scool are you attending? Quote Link to comment Share on other sites More sharing options...
Ætheling Posted June 24, 2005 Report Share Posted June 24, 2005 Oh yeah...what's the point of proofs? I just don't get them. You're not the first to wonder that! Some still do... Quote Link to comment Share on other sites More sharing options...
Ætheling Posted June 24, 2005 Report Share Posted June 24, 2005 2. For uncirculated modern coins, if they're taken out of the roll, are they considered no longer uncirculated? Like for instance, if I get a roll of uncirculated Lincoln pennies for each year off of ebay, and open the roll to remove one to put in a book or display, does that mean that the ones in the roll or the one that I placed in display is no longer 'uncirculated'? Uncirculated coins are basically coins that show no signs of wear, they may have the odd bagmark, they may have lustre (i.e original shine) or they may not, it all depends upon how they were stored. Some even come out looking like they fell in an oil puddle in the road, so you know... Uncirculated is pretty wide terminolgy, you can pull Uncircs out of circulation even a few years after they first went in, it just depends how resistant the alloy they were minted in is and how they were treat. Obviously coins that spend alot of time going from one pocket to another and jingling around with other coins wil lose that UNC designation faster than ones that circulate briefly for a few weeks and then spend long spells sat in a change jar before finding their way back into circulation for another few weeks and then into a different jar or drawer. 4. When deciding which coin to keep and which to ditch, what are the major things to look for first that diminish value? Scuffs to the face? Horizontal scratches? Crap on the coin? Knicks on the ridges? What reduces its value the most or least? Ditch coins with any green on them immediately, especially copper as this is verdigris and will spread. Keep coins with natural lustre and store them in a way that will keep this lustre, airtight holders are very good. Some might think, well why bother if it's only a 2005? Well don't forget people said that in 1905. Sure there billions of them out there now but they won't all stay that way. Edge knocks are best avoided. Try to find ones with as few scratches as possible. The best thing you can do now if you haven't already is to buy a copy of the 'Redbook' and learn how to grade. Coin values are totally dependent upon condition and the originality thereof. It doesn't so much matter if it's a 2005 edition or a cheaper older copy from 2000-2004, the main thing you'll need it for if you are collecting from change is the info and knowledge it contains rather than the coin value guide also present. Remember all coin collectors and dealers started out clueless in the beginning. The only way to beat the greness into submission, is to read and read and read. Take part on here, ask questions whenever you are unsure, it doesn't matter how stupid you think they sound, if you're not sure ask. Best to find out you are wrong or right sooner rather than later. And good luck! Quote Link to comment Share on other sites More sharing options...
Dan769 Posted June 24, 2005 Report Share Posted June 24, 2005 Oh yeah...what's the point of proofs? I just don't get them. Welcome aboard, Do you like the look of your avatar? Well it's a proof if that helps Quote Link to comment Share on other sites More sharing options...
Rabone Posted June 25, 2005 Report Share Posted June 25, 2005 You probably all think I'm stupid for even bothering, because you all seem like pros to me. You not stupid, and we are not pros. Nope. We are just average people like yourself learning as we go as well. Welcome to the board, and sticking around and just reading and you will learn a thing or two. Quote Link to comment Share on other sites More sharing options...
AuldFartte Posted June 25, 2005 Report Share Posted June 25, 2005 Welcome, Gump Remember, there are no such things as stupid questions We all hope you enjoy the time you spend here ... this place is filled with great people. Some have an incredible amount of numismatic knowledge ... some of us have a little bit ... but the important thing is this: We all enjoy our hobby, and each other's company on this fine place. Enjoy !!! Quote Link to comment Share on other sites More sharing options...
28Plain Posted June 25, 2005 Report Share Posted June 25, 2005 Don't worry about asking questions. That's the whole point of a forum, to be able to ask and read what several different people say on a subject. Welcome aboard. You can learn enough about coins to build a collection through circulation searching and trading. You'll be surprised at how much easier it is to get great coins once you've learned about them. Great coins aren't all expensive. Many can be had at face value if you're observant and devoted to searching. Quote Link to comment Share on other sites More sharing options...
okrecer03 Posted June 29, 2005 Report Share Posted June 29, 2005 We are just average people like yourself ....Hey! I am definitely more average than the average person!! Quote Link to comment Share on other sites More sharing options...
daggit Posted June 29, 2005 Report Share Posted June 29, 2005 Welcome Gump, I am also really new to coin collecting and this is the perfect place for good honest opinions and lots of humor. Quote Link to comment Share on other sites More sharing options...
Sir Sisu Posted July 6, 2005 Report Share Posted July 6, 2005 ...I'm so stupid I even shined all my lincoln pennies with brasso this week, was so proud of the shine, then learned that it killed the value (well....not like they had any). You learned of one the major tenants already. You are off to a good start! 1. I don't have any coin shops near me. Is just going to the bank and getting rolls the best I can do? And car wash change machines as another source for quarters? If you are new to the hobby than this is probably a good thing. Searching through a mix of uncirculated coins from bank rolls and circulated coins from rolls and change machines and such will help you gain the hands on experience to see how coins wear, what date and mintmark combinations are more uncommon, etc. This way you will be paying face value for your practice. When you get a better feel of what to look for, then when you do find a coin shop/dealer you will not have to pay a premium for your lessons. 4. When deciding which coin to keep and which to ditch, what are the major things to look for first that diminish value? Scuffs to the face? Horizontal scratches? Crap on the coin? Knicks on the ridges? What reduces its value the most or least? I would also add that while it is good to know what factors will affect value, just remember to also look at what appeals to you. A scratch on the device (the design on the coin) is more annoying to some as opposed to a scratch on the field (the flat part where there is no design), and vice versa. And welcome to the boards! Quote Link to comment Share on other sites More sharing options...
Metalman Posted July 6, 2005 Report Share Posted July 6, 2005 Hi Gump and welcome It would seem that the wisdom of the room has already been laid out for you to ponder !! Hope you stick around and share your collecting experiances with us !! Rick Quote Link to comment Share on other sites More sharing options...
Burks Posted July 6, 2005 Report Share Posted July 6, 2005 Searching through a mix of uncirculated coins from bank rolls How do you go about getting those? Simply ask for let's say, a uncirculated roll of dimes? Quote Link to comment Share on other sites More sharing options...
Twentycent Posted July 7, 2005 Report Share Posted July 7, 2005 Hi Gump! You found the right spot. Proofs? Someone already mentioned about the RedBook. It's a great reference. It tells you about proofs in there. Proof refers to the method of manufacture. There purpose is...well whatever you decide!! Jerry Quote Link to comment Share on other sites More sharing options...
geordie582 Posted July 7, 2005 Report Share Posted July 7, 2005 Surely to con money out of people like us? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.