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I thought it would be good to have a thread where us experienced collectors can offer advice to new folks. As I think of things, I'll post them here. Keep in mind, I'm not a big varieity or error collector. Most of what I will offer relates to generally collecting Lincoln cents. Let's get started and if you have advice to offer, please post it.
TAKE YOUR TIME!
To many new collectors get in a big rush to "fill holes". It's one of the biggest mistakes you can make as a collector if you're trying to build a quality set. The coins are out there and they WILL come to you in time. Everyday new coins hit the market. Collectors die, collectors upgrade, collectors need money so they sell. These things insure us that fresh inventory will ALWAYS be hitting the market.
FIND GOOD LOCAL DEALERS
Don't 100% rely on internet buying. I realize some of us don't have access to coin shops and shows, but you should plan your major buying around an annual "road trip". Save up your money and figure out a plan to make some long trips, it's well worth it to be able to see coins in hand BEFORE you buy. There is absolutely nothing like the thrill of finding the right coin and seeing it in your hand. It's also exciting to cherrypick a missed variety or under-graded coin from a dealer. This is much, much harder to do using a computer screen.
IF YOU HAVE A GOOD LOCAL SHOP, MAKE THEM YOUR FRIEND
Some of my greatest deals and knowledge have come from one local shop. I have spent many hours just hanging out as his shop to learn, browse and watch what customers bring in to sell. By far, I have learned MUCH more doing that compared to using the internet. I consider the internet a supplement, not a primary learning tool. The dealers that have been doing this for decades are the best source of knowledge in the world IMO. Get to know them, make them your friend, and buy stuff from them regularly everytime you visit their shop. If you don't have much money, find something cheap and buy it so they know you're a good, paying customer. It goes a long way to developing a rapport with them.
One of the coolest things my dealer does for me is to show me Lincolns he is getting ready to send off to a TPG for grading. He values my grade and opinion, I appreciate that he values my opinion. He also shows me coins that came back from grading. I'm always particularly interested in the coins that come back "no grade" due to a "problem". It lets me learn exactly what the TPG's are looking for and it allow him to vent about what BS it was that the coins didn't grade.
Another valuable thing for me is that I have a place to go for a second opinion. Sometimes it's nice to have someone else examine a coin you just bought. Posting on the internet is fine and dandy, but it's NOTHING like holding a coin in your hand and looking at it. He has caught things that I missed!
TAKE YOUR TIME!
To many new collectors get in a big rush to "fill holes". It's one of the biggest mistakes you can make as a collector if you're trying to build a quality set. The coins are out there and they WILL come to you in time. Everyday new coins hit the market. Collectors die, collectors upgrade, collectors need money so they sell. These things insure us that fresh inventory will ALWAYS be hitting the market.
FIND GOOD LOCAL DEALERS
Don't 100% rely on internet buying. I realize some of us don't have access to coin shops and shows, but you should plan your major buying around an annual "road trip". Save up your money and figure out a plan to make some long trips, it's well worth it to be able to see coins in hand BEFORE you buy. There is absolutely nothing like the thrill of finding the right coin and seeing it in your hand. It's also exciting to cherrypick a missed variety or under-graded coin from a dealer. This is much, much harder to do using a computer screen.
IF YOU HAVE A GOOD LOCAL SHOP, MAKE THEM YOUR FRIEND
Some of my greatest deals and knowledge have come from one local shop. I have spent many hours just hanging out as his shop to learn, browse and watch what customers bring in to sell. By far, I have learned MUCH more doing that compared to using the internet. I consider the internet a supplement, not a primary learning tool. The dealers that have been doing this for decades are the best source of knowledge in the world IMO. Get to know them, make them your friend, and buy stuff from them regularly everytime you visit their shop. If you don't have much money, find something cheap and buy it so they know you're a good, paying customer. It goes a long way to developing a rapport with them.
One of the coolest things my dealer does for me is to show me Lincolns he is getting ready to send off to a TPG for grading. He values my grade and opinion, I appreciate that he values my opinion. He also shows me coins that came back from grading. I'm always particularly interested in the coins that come back "no grade" due to a "problem". It lets me learn exactly what the TPG's are looking for and it allow him to vent about what BS it was that the coins didn't grade.
Another valuable thing for me is that I have a place to go for a second opinion. Sometimes it's nice to have someone else examine a coin you just bought. Posting on the internet is fine and dandy, but it's NOTHING like holding a coin in your hand and looking at it. He has caught things that I missed!
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