Coin collectors?
Anyone collect coins?
We’re going to buy some coins for a coin collector for Christmas - I have no idea what is sought out when it comes to coin collecting. I thought I’d ask - if anyone here knows about coins or collects them - what type coins do you wanna buy? I don’t want to spend hundreds of bucks on a coin or coin set…
Anyone have coin knowledge to share?
October 15th, 2007 at 1:33 am
I have no knowledge of coin collection… however, I could imagine that the brand-new, first ever Maltese Euro set - which should come out for sale soon - would make a great gift. Or perhaps a set of the Maltese currency (Lira) that’s going to “die” on the last day of this year!
I was googling a bit about these but only found commemorative Maltese coins for sale - which obviously are collectors’ items.
http://www.maltacoins.com/page.asp?n=productlist&c=400
Have a great week!
October 15th, 2007 at 1:36 am
PS… just found this:
http://www.centralbankmalta.com/site/pr1main.asp?ItemID=473
October 16th, 2007 at 9:39 am
Tough one. Yes I was a member of a coin club for ten years and have even designed a few coins myself.
My advice: There’s a lot of improperly graded coins out there, so you need to be careful. Your best bet is going with history. A unique coin that would be a good gift (since it is American and since they were made a while back from 1865-1869 would be the 3 cent nickel. http://en.wikipedia.org/wiki/Three-cent_piece_(United_States_coin)
October 16th, 2007 at 9:46 am
I would highly advise against commemorative pieces and non-U.S. coins unless your friend specifically collects them. True coin collectors stay away from these types of coins unless the piece is specifically heralded and universally desired.
October 17th, 2007 at 11:48 pm
I collected coins for 20 years until I had to sell my collection to make rent while unemployed. That really hurt because a good part of the collection were coins given to me as gifts by my Dad and my Uncle (my Uncle being the one who got my Dad and me started collecting coins).
My suggestion is to find out what sort of coins your friend collects. Is he into U.S. coins only or does he or she also collect foreign coins. If U.S. coins, what eras and denominations? For example, you can pick up nice Mercury dimes fairly inexpensively and maybe some buffalo nickels. Also, Franklin half dollars in excellent condition are still relatively inexpensive. If you want to give something a little more special (and a little more expensive), a Morgan dollar would be nice or a Walking Liberty quarter or half dollar. Keep in mind that the rule of thumb is: the better the condition of the coin, the more expensive it is. And more often than not, the older the coin, the more expensive they tend to run.
A final recommendation is to go to a reputable coin dealer once you find out what your friend likes and see what he has to offer. It wouldn’t be a bad idea to take a look at the latest “Red Book” (http://en.wikipedia.org/wiki/A_Guide_Book_of_United_States_Coins) to get an idea of what you’re going to look at paying for such coins. Your local library will probably have a current copy you can consult.
Finally, something every coin collector always appreciates as a gift is coin supplies like coin holders, coin tubes, and other accessories. Again, a coin dealer can show you what sort of items a numismatist would appreciate having.
October 17th, 2007 at 11:52 pm
Oh, one bit of advice…if you don’t know much about coins, don’t buy online. Although there are many reputable dealers out there, there are also many who are going after the not-so-knowledgable and can rip you off quite easily. For example, overgrading a coin is an easy way to get ripped off. An unscrupulous dealer may claim to have an MS-65 coin for sale that actually is of a lesser quality making it much less valuable. He may offer it for less than what the Red Book lists for an MS-65 making it appear on paper like a bargain but once you receive the coin and it’s only in excellent condition, it could be that you overpaid by $10, $20 or more. And that’s just one way you can be duped unless you really know what you’re doing. So to start with, deal in person with a reputable dealer and get some advance info on what different coins you have in mind go for per the “Red Book.”
October 18th, 2007 at 1:27 pm
oh man don’t you just love trying to buy things like that for people for Christmas.. It is always a good adventure but most of the time I am clueless..lol It shows you care enough to research though. Hope you are doing well…
*hugs*
Storm
October 19th, 2007 at 10:19 am
I used to collect coins when I was young but no longer now. Most of them are right here regarding getting what your friend would like to have. You will need to know whether he likes local as well as foreign coins or only sticking to local coins. There are lots of types around but it’s up to your budget. Try asking him indirectly. You might get a hint from there.
October 26th, 2007 at 1:56 am
So what did you finally decide upon?
November 8th, 2007 at 6:00 pm
I’m collecting US presidential dollar and quarters which is an ongoing project.
My husband purchased the Lewis and Clark Expedition coins a year or two ago which is very inexpensive.
Just an idea to share.
November 8th, 2007 at 6:03 pm
Oh no, “my husband” turned into blue prints when posted and it is refering to someone else. Please help me to rectify so that it is not misleading.