Hi Roberta/BigPappa,

I've been collecting for about 50 years - 3rd grade teacher started us with a year set of pennies.

There's a fairly decent UseNetNewsGroup called rec.collecting.coins that you can access via goggle. However, the best discussion groups that I've found are at
http://www.cointalk.org/index.php

That said, I've been pretty much wondering about the same thing as you. I've got a decent collection, but nothing spectacular, but am looking at diversifying some of my 'wealth' into rare, investment grade coins when I hit retirement. I read a month or so back about how old man Rothschild once said folks should have 1/3 of their wealth in securities, 1/3 in real estate and 1/3 in rare art. Knowing nothing about rare art, but something about coins, I started thinking about moving some monies into investment grade coins as a store of wealth, not necessarily as an investment, per se.

I'm almost 59 and plan to retire next May at 59.5 at which point I will be able to access my deferred accts w/o penalty. I've got a DB pension and wifey's in great shape, so I figured - why not? That first year, I'll have reduced income so I just plan on taking the tax hit and buying some coins. I'm making my shopping list right now.

To do this, I'm reading a lot of the key books, studying trends, CoinWorld, and whatever I can find. Also spending some time looking at prices and great pictures at
http://www.collectorscorner.com/

I'm also planning to buy what I know something about, like and would be comfortable leaving them to the boy/grandkids (BTW, I buy the grandkids most of everything every year from the mint).

Anyway, I'm looking at: 1909SVDB LHC, 1909S, 1914D, 1909S IHC, 1877 IHC, 1864L IHC, 1912S LHN, 1913S-II BHN, 1926S BHN, anything from Carson City, particularly DMPL Morgans, etc. For the most part, I'm looking at MS64 or 65 unless there's a price jump between grades, at which point I'll look for the lower grade in PQ. Everything will be PCGS slabbed.

None of this will be speculation, and not really even looking for appreciation as much as an alternative store of wealth beside equities.

It also has nothing to do with my already owning bullion, pm mutual funds, pm stocks, etc. (note that I'm very long precious metals with theses various instruments AND have a bullion stash).

just my thoughts and ideas,

peace,

rono

Originally posted in thread: 599

Hi Rono, thanks for your response and congrats on being so close to retirement. I'm on the other side of the spectrum, just graduated from college this past spring so I've got a bit of time to accumulate. My grandpa got me started by gifting me some of his coins each Christmas and I've taken a real liking toward coins ever since. At this point I clearly don't have the funds to chase key date coins (such as CC morgans and 1909s VDB's), but I've spent a few hundred this summer on ebay acquiring some coins that interest me. For the past few years I've been using my limited money to purchase the yearly proof set, silver proof set and proof American Eagles. Some of these sets have really climbed in price and I plan to continue purchasing every year to build a nice collection of proofs. Nice way to build a potentially valuable collection for not much money. I have just started buying slabbed coins (only PCGS and NGC), mainly newer coins that grade PF68-69, but I hope to buy some older coins with higher grades. I, like you, think that commodities will only go higher so I hope to keep a lot of my silver coins (don't have any gold coins;). Silver has been on a tear lately and I hope for its run to continue.

Do you collect the newer coins (commems, eagles) and proof sets or are you more into the older coins? Thanks for your response, I really enjoyed it!

Originally posted in thread: 599

Howdy,

Each year I buy most of what the mint offers from them. For example, I'll get 5 mint sets - one for me, 2 for the grandkids and 2 for giggles. Of the commems, I'll just pick and choose. I'll also watch for anything that might take off. Witness, the marine corps silver dollar - duh, we're at war. Last fall the anniversay sets and the 2006W burnished dollars. I had order 3 of each and when it became apparent it would be a very limited mintage, I order 7 more of the dollars (wish I had of the sets).

I have not been buying recent slabbed high grade coins. I think that your 68/69's are fine, but watch out for 70's. Bowers had a recent book that was great that you should buy

http://www.amazon.com/Experts-Guide-Collecting-Investing-Coins/dp/0794821782/ref=sr_1_12/102-7420451-2160156?ie=UTF8&s=books&qid=1186308374&sr=1-12

As for older stuff, I've always been a penny, nickel and dime guy going back to indians, liberties, and barbers. At the same time, I've put together all the modern sets in BU/Proof from ~1930s forward.

I agree, collect what you like and enjoy. That is absolutely the most important advice anyone can follow. Even if there should be an element of investment involved, you'll do better investing in coins you can enjoy from a collecting perspective.

take care,

rono

Originally posted in thread: 599

The only colletion I have are the 1974 Canadian Olympic silver and gold coin set when they were in Montreal. Have no idea whether their worth more than the actual currency value on the coin.

Originally posted in thread: 599

I collect the Morgan silver dollars. I have most of the high mintage dates. I am now looking at obtaining the low mintage 1890's. Wow, those guys are not cheap!! Gotta be selective here.

Originally posted in thread: 599

Very interesting Exactdude, I actually was looking around my basement one day and stumbled upon a roll of about 23 or so Morgans that my grandparents had won in Vegas years ago. They aren't nearly that old, but somehow they won them all in a slot machine (I'd guess in the 50's or 60's)...pretty sweet find for me. Many of them are EF or AU too I'd guess.

Before I forget, I was hoping a few of you experts could help me out with a few questions about grading and toning. Does toning hurt the value of coins, or does it not have any influence on grade/price? The reason I ask is because I have been browsing coins on Ebay and I find older coins that are extremely toned yet they are graded MS-65 by PCGS. Also, many of the Morgans are toned (some rainbow) yet the sellers seem to almost brag about how beautiful the tone is...so I was wondering whether the color of a coin has an impact on its grade or value? I know it does with wheat cents, but what about other coins?

On this same subject, I bought a sivler proof set from 2001 where the sac, half, dollar and penny are perfect but the quarters are all a bit toned on the washington heads. The coins never had even come out of the box, so it wasn't the sun...must have been a faulty seal in the plastic case. Are these worth less than untoned quarters?

One last question...if a coin has already been slabbed by PCGS or NGC, can its grade ever change provided it is still sealed in the case? This question touches on my questions about toning, but is especially pertainent to coins that were graded years ago. Thanks much, I really enjoy learning more about coin collecting each day.

Originally posted in thread: 599

I've only been collecting Morgan's for a couple of years, so I'm not an expert here. But I will give you an opinion.

I'm not sure toning affects the value of a coin. I think it more depends on wear & luster. I think you see toning extolled on ebay, is to maybe differentiate their coins from many of the others.

Toning comes about for a variety of reasons. Exposure to dampness, contact with other materials - paper in the coin holder. In the case of Morgan silver dollars, they were stored in the mint vaults in canvas bags. So contact with the canvas and/or moisture in these deep dark vaults.

Once coins have been graded & have not been damaged in their holders, I suspect the grading would stay the same. Of course if you wanted, you could always submit them for regrading.

Don't know about toning on your quarters. Might try asking a coin dealer about this.

If you are interested in digging further, check out a couple of Whitman books. A Guide Book of Morgan Silver dollars by Q David Bowers. And The Official Red Book United States Coins 2008, edited by Kenneth Bressett.

Originally posted in thread: 599

I bought 4 American Buffalo Gold Proof Coins. Two are going to be graduation presents (in about 7 years) and the other two are for me. I first thought that 800.00 for a one ounce 24k gold coin was kind of steep, but I also think that there is going to be great collector value for these. David...

Originally posted in thread: 599

beauty is in the eye of the beholder. experts would say that only novices do not appreciate toning. I guess I'm still a novice. I'm also a scientist; my artistic wife would no doubt prefer a toned coin to a bright, lusterous silver one.

for the most part, pretty toning (like a rainbow) can significantly increase the value of a coin. some have even gone to the length of artifically toning a coin (special chemicals, even baking a coin inside a potato). there are special tests that determine natural vs. artifical toning.

ugly toning (nasty, uneven black streaks) might hurt a coins value.

most toning is somewhere in between. look at a roll of old silver coins and many will be slightly different shades from silver to golden to ???...

some value toning simply because it indicates that what you are looking at is real silver, not a fake.

also remember that toning does not change/damage the silver content, it is actually a protective coating over the silver.

whatever you do, never try to remove the toning, or clean the coin in any way. this will definitely reduce the coins value.

Originally posted in thread: 599