First Coin Buying Expedition

[RobJ]

I've been looking around my local area and I have found a couple of Antique Centres that sell some coins so I've decided to pop along to see what they have on offer.

I'm still not exactly sure what to collect as of yet, but I thought maybe a good place to start would be to try to get an example of each coin, excluding gold, from each King/Queen from their Coronation year. For example, 1902 for Edward VII, 1911 for George V, etc.

I've also decided that it makes sense to purchase quality over quantity as I think that starting with a few say, EF coins and building up slowly, would be better than buying a lot of cheaper lower grade coins which I would only have to spend more money on at a later date to upgrade.

It also makes sense to spend what I can afford and to set a budget and to try to stick to it where possible, as I do think that it could be very easy to get carried away, especially when first starting out as I am.

If anyone else has any other advice or tips it would be most appreciated.

[Red Riley]

I think you've got hold of the major issue, that from the point of view of getting the best investment return, you should really go for quality over quantity. A few other points I should add;

1) Avoid buying coins with any significant shortcomings such as edge damage or coins that have previously been cleaned (you should find some threads on here to help you spot coins which have been subject to unnatural processes).

2) Try to avoid the first and last of any series, as these are inevitably the most common On the other hand you should be able to get these at a significant discount to the list price.

3) Any price guide is just that, a guide, and the entries should not be taken as gospel.

I wish you the best of luck and remember that the bottom line is; 'coin collecting should be fun'.

[azda]

The only last piece of advice i would give, is, never be afraid to ask a question here on the forum, no matter how trivial you think it might be, better to ask than not to, we were'nt born collectors, and advice is always freely avaliable buy some very knowledgable people here.

[Peter]

Buy the best you can afford.

Quality is always sort after...bide your time and the select coins will come along.

I go to the Midland coin fair maybe 3/4 times per year but I don't pannick if no purchase is made within the first hour.

I've bought a few duds from Ebay and dealers....another tip is eye appeal a grotty EF is useless against a nice GF.

Good luck on your hunt....I've probably made only 10 purchases over the last year with hundreds over the last few years an expensive lesson.

[RobJ]

Thank you Red, Azda and Peter for your advice, it really is most appreciated.

I'm not looking to coin collecting as any kind of future investment, for me personally it's not about that. If any coins that I do purchase do appreciate over time, then I will see that as a bonus, but for me I hope it to be a fun and absorbing hobby.

I do think that with any hobby it is well worth asking and learning as much as you can before starting out, as that way even though mistakes can and probably will be made at least you are not running into things totally blind and it may provide a cushion for the heavy blow that usually follows! lol

I will see the books as a guide and a reference only, as that is the reason that I bought them. I know that from reading other posts here that the prices quoted should not be taken as gospel but more as a guide.

I do think that buying the best coins in the best grade that you can afford is really sound advice, as over time you can build a nice collection without having the bank manager breaking down your door for instant repayment of your huge overdraft. lol

[Colin G.]

All good advice above, I would echo that the coin fairs are a good starting point, and really do show you that its important to take your time and shop around.

Peter,

I never knew you went to the Midland coin fair, I was there today, I was selling some 1825 farthings. Did you go? We will ahev to meet up!!

Rob,

Sorry for hijacking your post

[RobJ]

Thanks for your advice Colin.

I will have to check to see if there are any coin fairs in my area, I'm also looking into any coin shops and antique centres locally too. I do think that a good way to start to learn about coins is to try and see as many as I can in the hand, as it is one thing to see them in a book or a photograph but another to actually see them in the flesh, so to speak.

I'll hopefully be popping along to the one that I've already found either today or tomorrow to see what they have on offer.

[Rob]

All good advice above, I would echo that the coin fairs are a good starting point, and really do show you that its important to take your time and shop around.

Peter,

I never knew you went to the Midland coin fair, I was there today, I was selling some 1825 farthings. Did you go? We will ahev to meet up!!

Rob,

Sorry for hijacking your post

More hijacking.

I went to the Midland yesterday too. Don't remember hearing anyone trying to sell 1825 farthings though.

Edited November 15, 2010 by Rob

[Colin G.]

More hijacking.

I went to the Midland yesterday too. Don't remember hearing anyone trying to sell 1825 farthings though.

I am very discreet managed to sell a few, but still got plenty more if anyone is interested..special forum rates

But seriously if anyone is interested, I can send a few photos through. They are all lustrous to some degree, with some almost full lustre. But a majority do have the odd spot or small stain. If anyone is interested I will start a different thread and stick some images on it

[RobJ]

Feel free to hijack chaps, it's not a problem. lol

[Peter]

Colin

I tend to go when we can have a family weekend away either staying at Ansty Hotel or the village in Coventry.

However we now have a Springer it makes it much more difficult.

Otherwise its a sprint up thhe A14 early Sunday morning.....its often an expensive day out

Where did all the 1825 farthings come from?I seem to have amassed loads of 1720's and 1853's with the early farthings there are so many varities....I have to keep them all.

I need to spend some time on my farthings as the collection is out of control.....luckily there are few winter nights ahead.

I use your website but it makes my collection grow

Plus my wife has dropped me off at the fair before and has commented on the sad so and so's with their note pads and wants list...I don't think I'm quite that bad...yet.

[Rob]

I tend to go when we can have a family weekend away either staying at Ansty Hotel or the village in Coventry.

Plus my wife has dropped me off at the fair before and has commented on the sad so and so's with their note pads and wants list...I don't think I'm quite that bad...yet.

Sent to Coventry for a weekend away? Surely not.

My wife views them in the same way. It's only a short mental adjustment for her to tar me with the same brush.

[Peter]

She makes me wear the red cords and tweed jacket plus she bought me a bottle of musty aftershave so I could fit in completly...bless.

But when you see some guy unroll a wad of notes for an Oxford shilling plus the conversations are always polite maybe we have got it right....Even some of the dealers leave me to paw over their coins trusting me not to slip one in my pocket.Its just respect and a nice day out.

I do wonder why there haven't been more muggings....I often walk in with several £100 and walk out with a ruck sack full of coins.

Try the Ansty Mcdonalds hotel they used to do a family room for £99 which included dinner and breakfast....plus their selection of malt is unbeatale...although expensive...good pub down the road

[Colin G.]

My family have the same opinion of me as well....quite funny really

I got contacted by someone regarding the 1825's which were a cache that was part of a coin collection, the remainder of the collection went to auction, but for some reason the farthings did not. Very little history is known about how the cache were amassed, and it is such a varied bunch. There are 80+ farthings, all lustrous, but 18 different dies within. It is almost like someone was taking a sample from production. It has been a once in a lifetime chance to study a group of coins such as this, and has certainly boosted the 1825 section of my collection

It would have been the icing on the cake to know a bit more about how or why they were put together

[Peter]

Don't flood the market...I remember when Mr Cooke bought a hoard of 1886's and still has loads left.

Imagine a hoard of 1717's or 1698's

It took me a long time,patience and expense to get these at the right price and condition.

[DaveG38]

Colin

I tend to go when we can have a family weekend away either staying at Ansty Hotel or the village in Coventry.

However we now have a Springer it makes it much more difficult.

Otherwise its a sprint up thhe A14 early Sunday morning.....its often an expensive day out

Where did all the 1825 farthings come from?I seem to have amassed loads of 1720's and 1853's with the early farthings there are so many varities....I have to keep them all.

I need to spend some time on my farthings as the collection is out of control.....luckily there are few winter nights ahead.

I use your website but it makes my collection grow

Plus my wife has dropped me off at the fair before and has commented on the sad so and so's with their note pads and wants list...I don't think I'm quite that bad...yet.

From Lot 808 in Smith's Newent Auction on 10 September by any chance?

[Colin G.]

From Lot 808 in Smith's Newent Auction on 10 September by any chance?

Hmmm interesting......now I wonder whether I have been re-sold these coins, or whether these are an additional lot to the ones I purchased. Either way I am happy but it puts a few more in the market place

Did you attend that auction then Dave, how did you become aware of these farthings.....or was it you that sold them to me

[DaveG38]

From Lot 808 in Smith's Newent Auction on 10 September by any chance?

Hmmm interesting......now I wonder whether I have been re-sold these coins, or whether these are an additional lot to the ones I purchased. Either way I am happy but it puts a few more in the market place

Did you attend that auction then Dave, how did you become aware of these farthings.....or was it you that sold them to me

Neither. I was interested in them from the internet and left a commission bid. Unfortunately, I forgot to leave my name and address and so my bid wasn't accepted. The auctioneers did come back to me on this, but I was away for a few days and so missed out - by the time I returned the auction was over, so drat and double drat as some cartoon villain used to say (can't remember which one now). Please put me out of my misery and say how much they went for!

[Colin G.]

Please put me out of my misery and say how much they went for!

Thats the thing, I genuinely don't know!!

[RobJ]

It was Dick Dastardly that had the catchphrase of 'Drat and Double Drat'.

[azda]

It was Dick Dastardly that had the catchphrase of 'Drat and Double Drat'.

From the cartoon Whacky Races

[RobJ]

And not forgetting 'Dastardly and Muttley in Their Flying Machines'

[DaveG38]

I've been looking around my local area and I have found a couple of Antique Centres that sell some coins so I've decided to pop along to see what they have on offer.

I'm still not exactly sure what to collect as of yet, but I thought maybe a good place to start would be to try to get an example of each coin, excluding gold, from each King/Queen from their Coronation year. For example, 1902 for Edward VII, 1911 for George V, etc.

I've also decided that it makes sense to purchase quality over quantity as I think that starting with a few say, EF coins and building up slowly, would be better than buying a lot of cheaper lower grade coins which I would only have to spend more money on at a later date to upgrade.

It also makes sense to spend what I can afford and to set a budget and to try to stick to it where possible, as I do think that it could be very easy to get carried away, especially when first starting out as I am.

If anyone else has any other advice or tips it would be most appreciated.

RobJ

Just to put a slightly different perspective on the issue of the quality you should buy. Of course I have no issue with the general principle that you should buy the best quality you can afford. However, depending on how and what you collect you may find that this isn't always a practicable strategy. For instance, I am a milled coinage date collector and like others I try to buy the best I can. However, sometimes this isn't possible and I have to settle for a good deal less than I would like. This isn't always a matter of money, although that does come into it, it's also a question of availability. I have an example of all the dates/major types of farthing back to 1672 - the only missing one is a James II 1684 which is extremely rare. Now if one comes on the market at an sort of sensible prices and in almost any kind of condition, I'll probably buy it, simply because I'm not likely to see another. The alternative is to have a yawning gap in the collection and I'm afraid I like to see gaps filled.

So, my collections doesn't always have the best condition coins in, but it is largely complete in terms of date runs. This means I have had to settle for low quality at times for e.g. my 1854 sixpence and shilling, my 1689 halfpenny, my 1863 florin etc. etc. Of course, if a better specimen comes along and I can afford it I can and do upgrade, but in the meantime I'm happy to see the gap filled. You may end up being a different sort of collector in which case I'm sorry if this post isn't relevant to you.

[RobJ]

Thank you for your advice Dave.

I must admit that I am in complete agreement with you. Whilst I will collect the best coins that I can afford I am under no illusion at all that I would be able to collect each and every one in the highest grade available. As you correctly point out it isn't only the financial aspect that must be considered but more importantly that of the availability of the coins.

And even if you had the annual income of a small European country - Which is what it would take to buy such a collection lol - If the coins are not available there is nothing that can be done about it.

There is no need to.apologize Dave. I welcome any and all advice, especially from a experienced collector such as yourself, and quite frankly I think that I would be a fool not to take notice and listen to it.

[declanwmagee]

Quite agree Dave. I've just managed to fill my last George V gap which has been yawning at me for years: 1917 sixpence.

It only cost me a tenner, and I'd have paid double that just because it's the first one I've come across since I got serious. It's only a VF, but I don't care, even though I usually consider myself to be a grade fascist.