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slybluenote's Blog

26 Mar 2020

New Money !

Collecting Tips | slybluenote

26 Mar. 2020 Good morning folks ! First I want to thank all the folks that have helped me navigate this site so far!I've only been a "ANA" member for 2 days and I'm already getting smarter :-) ! I really appreciated thearticle that Mr. Doug Winter wrote in reference to the Ten Rules of Coin Collecting. I did read ALL tenrules, but as any good writer would do, the paragraph that preceded the rules really hit home for me. Thereality check the paragraph alluded to spurred me to proceed to the rules. Sometimes, the truth hurts !The rules make sense and as Mr. Winter indicated, some will be harder for me than others. The realitycheck Mr. Winter opened with was for me, like looking in a mirror. When I first started collecting, I wasguilty of buying what I would later learn was "Junk Money" vice "New Money" ! My collection early onwas "summarily dismissed" by more than one dealer/collector. Rule number 3 is going to be especiallyhard for me since I don't have an abundance of "Patience" to start with, but I'm a work in progress! Seebelow for an example of one of my "impulsive" buys :-) ! I'm going to have to find out where Mr. Wintergained his knowledge and to peruse some of his work, when I get an opportunity!

Comments

World_Coin_Nut

Level 5

Welcome, feel free to share your collecting interests. We all like seeing pictures. My biggest rule of collecting is, don't ever let anyone else tell you what you need to collect. Buy what you like.

Very nice set you have there!

Mike

Level 7

Thats a good sst nice start. Do not impules buy. Work on a budget. You can still put a nice one . Enjoy.

"SUN"

Level 5

Welcome to the ANA. I believe we all have purchased something regret. Knowledge is king.

Longstrider

Level 6

We all have done the same thing. We learn. Try the ANA library. Great deal. You just pay postage and insurance both ways. That's it. I have a great book by Roger Burdette out now. Good luck.

Numinerd9

Level 5

Hi slybluenote; glad to have ya! Feel free to ask any money-related questions you may have, and of course, please check out our FAQ page on this website. If you ever need to ask me anything directly, feel free to shoot me an email. And remember to always, "buy the book, before you buy the coin." Education is of paramount importance to becoming a successful collector. Enjoy your hobby! -Sam Gelberd, ANA Numismatic Educator - sam@money.org

Golfer

Level 5

Welcome ! Those ten rules sound like something for rich people or investors and not your average collector. Most of us collect for enjoyment. No dealer or collector should dismiss someones collection. I may buy a roll of Buffalo Nickels just because I think its nice to look at and enjoy them. Might buy a 1950-D nickel in MS 65 just because its nice to have a key date. Mr. Winters and his 20,000 dollar budget? Buy 5 coins at 4 grand each and not 20 coins at 1 grand each? I dont walk into a coin show with 20,000 dollars. I may have 200 dollars or more. Sure you want to educate yourself and not get ripped off. Seems like according to the rules were all a bunch of fools. We all go to coin shows. Next time when a dealer asks me what I am looking for should I tell him 5 coins valued at 4 grand each instead of all the junk you have in your cases, because i follow Mr Winters rules! If I see a nice MS65 Booker T Washington for 50 bucks I am buying it !!

Mokie

Level 6

I have that exact same Kennedy set in my collection. I think it is very attractive and a great addition to any Kennedy Half collection.

Long Beard

Level 5

Welcome to the ANA, very glad to have you with us. You'll quickly find that a vast majority on here are quite friendly, not to mention knowledgeable and eager to assist. With that said, my best advice would be to collect what you like. At times over paying happens for a number of reasons, even to the seasoned collectors. This should not in any way discourage you, rather encourage you by the fact that you have learned from it. I suppose what I'm saying is that coin collecting should be for enjoyment. Is there truly a price limit for that?

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