Starting From Zero

[Dan1 0]

Hey guys

Great website and forum.

My grandfather died a few years ago and I have had a few of his coins ever since. I say a few, more like four consisting of 3 1994 silver dollars (no idea how he got these) and a 1953 5 shilling coin. I probably stare at them once a week, they are pretty cool and I tell my sons that when I die they can have them.

I have heard of people collecting coins and really would like to get into it as it seems really interesting, but I am now suffering from information overload as the internet has too much information for when you know nothing.

I just need a starting point, UK coins are what I think would interest me the most so I was going to start here. I would like to get some books, but again there are hundreds, so again the amount of information is daunting.

Sorry about the lack of any knowledge, any help will be greatly appreciated.

Thanks

Dan

[Nordle11 564]

Hi Dan, welcome to the forum!

A few broad but basic starting points to consider;

Do you want to collect pre or post decimal coins? (before or after 1971)

Do you like a certain denomination? (pennies, shillings, crowns, etc.)

Do you prefer a certain era or monarch?

Do you lean towards a specific metal i.e gold, silver, bronze, etc.?

Do you see yourself collecting a date run of some type or perhaps one coin from each monarch?

Answering a few of these questions might get you started..

There are a multitude of ways to collect, getting right into it, buying a few cheap but nice coins and seeing what you prefer before narrowing it down is the best way to start, instead of trying to narrow it down before you start collecting.

Lots of friendly people on here who will all share their own interests, mine is pennies! I'm going for a date run to collect an example from each year from between 1860 - 1967, although I do like to keep back nice examples of any other UK coin, depending on prices

Matt

Edited March 9, 2014 by Nordle11

[Dan1 0]

Hi Matt

Thanks for responding so quickly.

This is a bit clearer now, should I pick a few coins and try and find specimens from as far back as possible? Would this be a good starting point?

Thanks again.

Dan

[declanwmagee 122]

Dan, every day I wish I was in the same place as you, starting from scratch. There's so many things I'd do differently the second time around.

Clearly, the only way to collect is my way, so here's what you do:

1) Start at 1967

2) Try and buy the best you can find of each denomination in 1967. You'll find there are 6

3) Move on to 1966. One more denomination. Your homework is to find out which one. On my desk 9am please.

4) As you progress through the 1950s you'l find that you might have to be a bit less fussy on grade. Do not give in to the temptation to buy second rate coins to fill gaps. A gap is always better than a second rate coin

5) Keep going till you get to 1953. Something big will change after that date.

6) Keep us informed every step of the way....and enjoy!

[Colin G. 147]

This is one of the great things with collecting, you get to decide what sort of things interest you and appeal to you. Depending on where you live I would suggest a trip to a local coin fair. It gives you the opportunity to view a large selection of coins without having to own any

Some of us choose to focus our collections on specific denominations, whilst others focus on a specific set of a goals, others just collect whatever appeals, etc.

[Nordle11 564]

This is one of the great things with collecting, you get to decide what sort of things interest you and appeal to you. Depending on where you live I would suggest a trip to a local coin fair. It gives you the opportunity to view a large selection of coins without having to own any

Some of us choose to focus our collections on specific denominations, whilst others focus on a specific set of a goals, others just collect whatever appeals, etc.

Great suggestion if you really have no idea where you want to start, go to a local coin fair and you'll soon have a rough idea of what appeals to you and the sort of prices you might be looking at. Plus, dealers also have excellent examples of most coins available so you can see what a really beautiful coin looks like in it's top grade.

[Dan1 0]

Im quite pleased that Declan has given me a task of getting the 1967 coins. This give me something to focus on whilst doing other research. Thank you all for your help.

Are there any good annual fairs in West Yorkshire?

[Peter 615]

You have a monthly fair in Wakefield.Not as good as the Midland but still a great place to be.

[Paulus 1,975]

Im quite pleased that Declan has given me a task of getting the 1967 coins. This give me something to focus on whilst doing other research. Thank you all for your help.

Are there any good annual fairs in West Yorkshire?

I love Declan's suggestion and 'homework'!

Knowing how to grade, and what appeals to you are key, I think, but starting from zero you might be amazed how many 'decent' coins you can get for 50p to £10 even going back 2000 years to Roman times!

So dip your toe in the water at minimal cost with a range of coins, reading, and coin fairs, would be how I would do it 2nd time around. I made a few mistakes at first as do many/most, and in a sense that is part of the fun, but you don't want these to be too expensive!

I think there is a fairly regular coin fair in Harrogate, the next one being 2 weeks' time, and probably the nearest one of note to West Yorkshire:

21st - 22nd March 2014 Swan Road

Harrogate

North Yorkshire

HG1 2SR

Oh yes, and there's Wakefield as Peter just said!

Edited March 9, 2014 by Paulus

[Chris Perkins 228]

My book, my books, buy my books.

Seriously though, the Standard Guide to Grading British Coins and Collectors' Coins GB 2014 (Pre-decimal) will be a very good start. Both are also available in eBook form, on Amazon Kindle etc (which is currently fairly unusual for coin books).

[sound 25]

Dan1,

As has been said welcome. You have had some great advice already. Here's some more.

Don't be in a hurry, sounds like you are doing the right thing, research, research, research.

Consider your budget.

Within you budget buy the best you can afford. Low grade coins do not generally appreciate in value, high grade coins tend to. Less really can be more with coins.

Get to understand the basics of grading. Buy the grading book on Chris's site, its very good.

You may want to consider GV silver, still relatively undervalued in my opinion.

If you buy from a dealer talk to them first, a good one will give you time.

Buy the least expensive coins within your collecting area first. This will minimise expensive mistakes. You will make them.

Don't be frightened to keep pestering this board. You will find a great deal of patience and support. Don't think your questions are scilly, everyone has to start somewhere.

Why not let us know what area you focus on? Don't be surprised if you change your mind.

Kind regards

Mark

[Rob 3,152]

Welcome to the forum.

There is a coin fair on the last Sunday of every month except December at the Cedar Court Hotel, just off junction 39 of the M1. It opens at 9:30 am and would be your best bet. As Paulus mentioned, the Harrogate fair is on Friday 21st and Saturday 22nd at the Swan Hotel, but I would be amazed if you managed to pick up anything dated 1967 there. As a rule, something as common as 1967 coins are not taken to fairs because the dealer knows he is unlikely to sell any. Harrogate is more akin to the York fairs (January & July) where there are dealers from across the country and typically with higher quality stock (for which read more expensive).

When you go to a fair, don't be afraid to ask questions. We are all more than happy to help, not rip people off.

Edited March 9, 2014 by Rob

[bronze mad 4]

Hi Dan1

Try car boot sales, sellers have coins sometimes amongst their stuff. And you will get them cheap.

Antique and collectors fairs, there may be dealers there who have a bargian bulk lots, modern pre decimal coins are plentiful.

And of course not forgetting good old e-bay, there are thousands of coins on there.

Brass thrupenny bits are a good place to start, or Farthings, cheap as well.

i'm sure you will find an area of interest. Also as mentioned by previous posts, you will have to know how to grade a coin, if you are buying single coins

you can easilly get ripped off, if it is overpriced and you dont realise.

[Peckris 579]

Hi Dan, Welcome to the forums

Chris P. may be trying to sell his books, but actually those two he's picked out are an ideal pair for beginners : one is a fact-filled price guide from 1797 to 1967, the other teaches you about grading in the best way possible - with pictures!

If you decide you want to go back earlier than 1797, come back and ask, and we will advise what books to beg steal or borrow .. or even buy.

If I had to give you one tip, it's this : better to buy one coin you can afford in the best condition possible, than 10 coins for the same money but in a much poorer condition.

[Paulus 1,975]

Hi Dan, Welcome to the forums

Chris P. may be trying to sell his books, but actually those two he's picked out are an ideal pair for beginners : one is a fact-filled price guide from 1797 to 1967, the other teaches you about grading in the best way possible - with pictures!

If you decide you want to go back earlier than 1797, come back and ask, and we will advise what books to beg steal or borrow .. or even buy.

If I had to give you one tip, it's this : better to buy one coin you can afford in the best condition possible, than 10 coins for the same money but in a much poorer condition.

In my very limited experience (just over 5 years), that is one of the best tips you will ever receive

[Nordle11 564]

Hi Dan, Welcome to the forums

Chris P. may be trying to sell his books, but actually those two he's picked out are an ideal pair for beginners : one is a fact-filled price guide from 1797 to 1967, the other teaches you about grading in the best way possible - with pictures!

If you decide you want to go back earlier than 1797, come back and ask, and we will advise what books to beg steal or borrow .. or even buy.

If I had to give you one tip, it's this : better to buy one coin you can afford in the best condition possible, than 10 coins for the same money but in a much poorer condition.

In my very limited experience (just over 5 years), that is one of the best tips you will ever receive

I liked Peck's post for this tip exactly, best advice I've heard since starting to collect..

[azda 979]

Welcome to the forum Dan. You have come to the right place for friendly advice. Apart from all of the above you can also wade through coin aquisition of the week thread. Thereyou will see many of the various coins members have bought and posted there for all to see, going through some of the 225 Pages might also tweak your interest in a certain denomination and types such as hammered or milled.

Its a good place to start but for gods sale DO NOT go in the TPG section until you've been collecting for a few years, its a minefield and can get quite heated, you have been warned

[Dan1 0]

Wow, the advice is brilliant, thank you all. It seems i am quite lucky for the fairs, I live near Wakefield and work near Harrogate.

After trawling the internet I have found a 1967 coin set for £15, they are all circulated. No idea if this is good or bad value, or the condition of the coins.

Chris, can you send me a link and I will buy the books you have recommended?

Thanks again guys.

[Peckris 579]

Wow, the advice is brilliant, thank you all. It seems i am quite lucky for the fairs, I live near Wakefield and work near Harrogate.

After trawling the internet I have found a 1967 coin set for £15, they are all circulated. No idea if this is good or bad value, or the condition of the coins.

Chris, can you send me a link and I will buy the books you have recommended?

Thanks again guys.

Circulated 1967 coins (sovereign excepted!) are pretty much worthless. Probably the guys here could between us supply you with all the 1967 denominations in BU - all you'd need to do is find a case. Whatever you do, don't hand over £15 even for a BU set! 1967 appeared as the date on all predecimal coins minted between 1967 and 1970, so they are among the commonest coins of all time, and got put by in their millions.

[declanwmagee 122]

You'll have to read your homework again, Dan! You don't, under any circumstances want to be buying circulated coins.

That can be said with very few exceptions right back to the 1930s. Buy the very best you can find! That was the point of setting you 1967 as a starting point you see - as the commonest year, and the last predecimal year, you will be able to insist on top grade coins, and still only pay pennies.

Then you'll be able to get a feel for what uncirculated coins look like, and thus be able to be choosy when you get to the harder dates, which is when it really matters.

[Peckris 579]

You'll have to read your homework again, Dan! You don't, under any circumstances want to be buying circulated coins.

That can be said with very few exceptions right back to the 1930s. Buy the very best you can find! That was the point of setting you 1967 as a starting point you see - as the commonest year, and the last predecimal year, you will be able to insist on top grade coins, and still only pay pennies.

Then you'll be able to get a feel for what uncirculated coins look like, and thus be able to be choosy when you get to the harder dates, which is when it really matters.

I would refine this only a little - after 1935, you want coins to be GEF at the very least (which is very nearly uncirculated) except for the rare dates : 1946, 1949, and 1951 brass 3d, 1943/1944 silver 3d, 1952 sixpence, possibly the 1950/1951 pennies. Even coins which are expensive in BU such as 1954 halfcrowns and florins, or 1959 Scottish shillings, plummet like a stone in EF and can picked up for about 1/5 of their of BU price. With the exception of some 1950s halfcrowns, florins, and shillings, you want Elizabeth II coins to be BU.

For George VI here is a quick rundown of what you should aim for in BU:

Halfcrowns - 1944/45/46, 1948

Florins - ditto

Shillings - ditto

Sixpences - 1939 to 1951

Silver 3d - 1937/38

Brass 3d - 1937, 1941/42/43/44, 1952

Pennies - 1937/38, 1947/48/49

Halfpennies - 1937/38, 1942/43/44/45, 1952

Farthings - all dates except 1938

[Peter 615]

My book, my books, buy my books.

Seriously though, the Standard Guide to Grading British Coins and Collectors' Coins GB 2014 (Pre-decimal) will be a very good start. Both are also available in eBook form, on Amazon Kindle etc (which is currently fairly unusual for coin books).

Yep

Buy Mr Perkins books.

Well written and great value...A big plus point he hasn't banned me yet.Even after Hedgehog Gate...long story.

[Peter 615]

We have a feral cat who has been living with us for 8 years.

He used to sleep on my head.Trouble is I still get a bloody huge mouser called Mills who sits on my head.I don't mind Mrs Peter

[sound 25]

You'll have to read your homework again, Dan! You don't, under any circumstances want to be buying circulated coins.

That can be said with very few exceptions right back to the 1930s. Buy the very best you can find! That was the point of setting you 1967 as a starting point you see - as the commonest year, and the last predecimal year, you will be able to insist on top grade coins, and still only pay pennies.

Then you'll be able to get a feel for what uncirculated coins look like, and thus be able to be choosy when you get to the harder dates, which is when it really matters.

I would refine this only a little - after 1935, you want coins to be GEF at the very least (which is very nearly uncirculated) except for the rare dates : 1946, 1949, and 1951 brass 3d, 1943/1944 silver 3d, 1952 sixpence, possibly the 1950/1951 pennies. Even coins which are expensive in BU such as 1954 halfcrowns and florins, or 1959 Scottish shillings, plummet like a stone in EF and can picked up for about 1/5 of their of BU price. With the exception of some 1950s halfcrowns, florins, and shillings, you want Elizabeth II coins to be BU.

For George VI here is a quick rundown of what you should aim for in BU:

Halfcrowns - 1944/45/46, 1948

Florins - ditto

Shillings - ditto

Sixpences - 1939 to 1951

Silver 3d - 1937/38

Brass 3d - 1937, 1941/42/43/44, 1952

Pennies - 1937/38, 1947/48/49

Halfpennies - 1937/38, 1942/43/44/45, 1952

Farthings - all dates except 1938

Pecks,

Comments are unarguable IMO. If you go back further try and buy "everything" in the milled period in GEF or above. There will be some compromises with EF. Perhaps only accept lower grades where the rarity factor is compelling.

Take a look at Spink valuations in lower grades from a catalogue say six years ago and compare them with the latest prices. Hardly any movement in prices. Then look at EF and above , check the difference.

Of course this is a generalisation, it would have to be, but it's about right.

Regards

Mark

[Rob 3,152]

It helps the balance of a collection to be in similar grades though. There's nothing worse than a row of BU pieces with a black sheep in the middle. Having said that, sometimes the best known is only Fine or VF at which point you have to either accept it or move on.

If a coin is simply rare in a certain grade, you are better off waiting.

Edited March 11, 2014 by Rob