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Started By
Message
re: Tips from MT Coin Collectors
Posted on 12/27/12 at 9:56 am to Broke
Posted on 12/27/12 at 9:56 am to Broke
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
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
2
Posted on 12/27/12 at 10:04 am to Lsut81
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.
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.
Posted on 12/27/12 at 10:04 am to Lsut81
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.
Posted on 12/27/12 at 10:10 am to Broke
quote:
I really want to get a Carson City dollar.
I have two of those! An 1878 and an 1891.
Posted on 12/27/12 at 10:14 am to LSURussian
Great info! How many coins in all do you think you have collected currently?
Posted on 12/27/12 at 10:17 am to Broke
quote:
I really want to get a Carson City dollar.
I think all of my dollars are Orleans
Posted on 12/27/12 at 10:18 am to LSURussian
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.
Posted on 12/27/12 at 10:28 am to RickAstley
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.
Posted on 12/27/12 at 10:29 am to Broke
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?
I know someone mentioned earlier it is best not to clean the coins, so would cull be the best bet?
Posted on 12/27/12 at 10:40 am to OnTheBrink
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.
Posted on 12/27/12 at 10:40 am to OnTheBrink
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.
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.
Posted on 12/27/12 at 10:45 am to RickAstley
quote:
RickAstley & Broke
Will look more into it. Thanks for the input!
Posted on 12/27/12 at 10:48 am to OnTheBrink
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....
Posted on 12/27/12 at 10:54 am to LSURussian
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
Posted on 12/27/12 at 10:57 am to LSURussian
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!
Posted on 12/27/12 at 10:58 am to LSURussian
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.
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 12/27/12 at 10:59 am
Posted on 12/27/12 at 11:09 am to OnTheBrink
quote:
Will look more into it. Thanks for the input
No problem. I love talking about this stuff.
Posted on 12/27/12 at 11:17 am to Broke
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.
Posted on 12/27/12 at 11:38 am to Lsut81
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.
Posted on 12/27/12 at 11:50 am to ThatsAFactJack
I don't have shite better to do today... I think I might bust them out and start separating them
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