Tips from MT Coin Collectors - Page 3 - TigerDroppings.com

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Lsut81
USA Fan
Member since Jun 2005
63067 posts

re: Tips from MT Coin Collectors


Sorry for all the questions... But how would y'all go about tackling an unorganized mess of coins?

They are currently divided by denomination (Silver Dollar, Half Dollar, Quarter, Nickel, Dime).

Should I go through and break it down even further into years of each and then begin my research from there? Any advice for a beginner would be much appreciated






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80158 posts

re: Tips from MT Coin Collectors


Hobby Lobby has coin trays designed specifically for filing coins using the square, individual coin wrappers which they sell.

I file my old coins by denomination and by date and mint mark within denomination. I keep a separate tray just for foreign coins.

I also keep an Excel file of all my coins so that I don't have to go through the coin trays to see if I have a certain coin before I bid on one on eBay. The .xls file is sorted by denomination, then by date and then by mint mark. It's also an excellent way to keep track of what I paid for each coin.

Hope this helps.






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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
55519 posts

re: Tips from MT Coin Collectors


All of the quarters will be together, all of the pennies, etc. So just grab all of the pennies and start looking. Typically the older the date the more value, but that's not always the case. I really want to get a Carson City dollar.





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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80158 posts

re: Tips from MT Coin Collectors


quote:

I really want to get a Carson City dollar.


I have two of those! An 1878 and an 1891.







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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1600 posts

re: Tips from MT Coin Collectors


Great info! How many coins in all do you think you have collected currently?





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Lsut81
USA Fan
Member since Jun 2005
63067 posts

re: Tips from MT Coin Collectors


quote:

I really want to get a Carson City dollar.


I think all of my dollars are Orleans






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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
55519 posts

re: Tips from MT Coin Collectors


quote:

I have two of those! An 1878 and an 1891


Nice. I think my prized pieces are my Horseblanket $20 gold note and a regular sized $10 gold note and my El Cazador coin.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80158 posts

re: Tips from MT Coin Collectors


quote:

How many coins in all do you think you have collected currently?


If you ignore the 'batch' coins I have such as Roman coins, U.S. "V" nickles and Indian head pennies which I store several hundred of each type in coin tubes, I have about 300 individually wrapped U.S. coins and about 25 old, foreign silver coins.

One of the best ones I have is an 1838 "Seated Liberty" dime minted in New Orleans. 1838 was the first year dimes were minted in New Orleans ("O" mint mark) and it was the only year of the "no stars" design, which was a design oversight corrected the next year when dimes had 13 stars around the "Seated Liberty" figure representing the 13 original states.






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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3538 posts

re: Tips from MT Coin Collectors


As mentioned earlier, I am going to start getting some Morgans. A question though, is it better to get cull, almost good, or good or better?

I know someone mentioned earlier it is best not to clean the coins, so would cull be the best bet?







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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
55519 posts

re: Tips from MT Coin Collectors


quote:

As mentioned earlier, I am going to start getting some Morgans. A question though, is it better to get cull, almost good, or good or better?


It really depends on how much money you want to spend. A near mint or uncirculated Morgan dollar is going to be expensive if it's a good year. If I were you I would start out with some inexpensive years in good condition and work your way up.






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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1600 posts

re: Tips from MT Coin Collectors


I would read online about culls for that particular coin. A cull buffalo nickel will only fetch you about 10-15 cents. I know this because a while back one seller had a lot of 56 buffalo nickels for sale for $10 on craigslist. I thought it was a good buy, unfortunately, $10 still exceeded their sell value.

I know this isn't the Morgan dollar you mentioned, but it is almost not worth the investment for some culls. Buffalo nickel being a prime example.






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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3538 posts

re: Tips from MT Coin Collectors


quote:

RickAstley & Broke


Will look more into it. Thanks for the input!






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80158 posts

re: Tips from MT Coin Collectors


quote:

A question though, is it better to get cull, almost good, or good or better?

It depends on what you are collecting the coins for. If you're doing it for the silver (melt) content for a supposed inflation hedge, it really doesn't matter what the condition is.

If you're collecting in order to sell the coin and make a few bucks later, the better the condition, the more demand for the coin in future years. Of course, it also means you'll pay more for the coin initially so you really have to know what you're doing in order to not overpay and get burned.

Personally, I collect for the beauty of the artwork and the history behind the coin (designer, why the design was created, etc.) so the condition is not that important to me as long as I can clearly see the artwork features and details.

FWIW, I've never sold a coin although I've given several as birthday gifts to close friends and family.

I enjoy giving U.S. coins as gifts which are dated 100, 150 or 200 years prior to the year of birth of the recipient. That way they were born on the centennial, sesquicentennial or bicentennial of the year of the minting of the coin and it ties in nicely with their birthday recognition.

All of this was probably TMI for you but I get fired up discussing old coins. Sorry....






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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
55519 posts

re: Tips from MT Coin Collectors


quote:

Personally, I collect for the beauty of the artwork and the history behind the coin (designer, why the design was created, etc.) so the condition is not that important to me as long as I can clearly see the artwork features and details.


Ditto. I've never sold a coin. Unless you count the silver bullion I bought for $70 and sold for $390






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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3538 posts

re: Tips from MT Coin Collectors


quote:

LSURussian


Thats perfect man! The more I know the better off I am!

I am not in it for melt value. I am somewhat in your boat as far as gifting them later, more for leaving them to my kids and grandkids when I pass. And I guess for me having them as "show pieces" if you will.

Your response was much appreciated!






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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1600 posts

re: Tips from MT Coin Collectors


I like collecting coins that are easy to spot such as wheat pennies and bicentennial quarters/half-dollars. I've been more interested in silver as of late obviously since its free money if you come across a silver coin.

Seeing my dad's collection over the holidays really stunned me at how much I've been missing out on just doing simple checks of pocket change for particular coins. His collection was nothing short of a beauty for 19th century coins/notes and early 20th century coins.

I find this stuff extremely interesting and seeing his collection has definitely kicked me into gear again regarding them.



This post was edited on 12/27 at 10:59 am


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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
55519 posts

re: Tips from MT Coin Collectors


quote:

Will look more into it. Thanks for the input


No problem. I love talking about this stuff.






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Catman88
LSU Fan
Baton Rouge, LA
Member since Dec 2004
39345 posts

re: Tips from MT Coin Collectors


quote:

my El Cazador coin.


These are the only coins I collect.. Just something about shipwreck coins I like.

Have a couple of El Cazador and 1 Atocha coin. I like the history behind the El Cazador for Louisiana though.






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ThatsAFactJack
Broussard
Member since Sep 2012
382 posts

re: Tips from MT Coin Collectors


quote:

Lsut81
quote:

I think all of my dollars are Orleans


I have 2 Orleans Morgan Dollars from my buy yesterday at my LCS. Years are 1889 and 1901.

Oldest coin I have is a 1879 Morgan Dollar from San Fransico Mint.

I collect the "junk" coins and silver rounds for silver content. Every now and then I buy an uncirculated Morgan or Peace for fun but not often.






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Lsut81
USA Fan
Member since Jun 2005
63067 posts

re: Tips from MT Coin Collectors


I don't have shite better to do today... I think I might bust them out and start separating them





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