I've got about $850 in bids out for collectible coins right now.

[Tobin S.]

My wife has about $200 of it covered, I've got the rest. She said she wanted to buy me something. This is it. Of course, that's just the amount I'm willing to bid. No telling if I'll win. It's on a couple of online auction sites. I'll know if I'm going to be spending some money come Sunday night.

I view collecting coins as sort of a savings account. The possible rate of return is better than most savings accounts, but you do take a gamble. Prices can go down. I collect some bullion coins and the market for them can be volatile.

But I get a kick out of it, yes I do.

[CaliforniaPeggy]

1. Good luck and have fun!

[PasadenaTrudy]

2. I once had

a nice collection. It got stolen. I had Morgan dollars, walking liberties, mercury heads...beautiful coins.

[Tobin S.]

3. One of my bids tonight is on a Morgan

I have 6 Morgans currently ranging in grade from Extra Fine 40 to Mint State 64. Dates are from 1878 to 1882. My current bid is on a mint state 1879 coin.

I have a safe that I keep my coins in.

[EvilAL]

13. I dug up a Spanish Cob

Last edited Sun Mar 2, 2014, 08:24 PM - Edit history (1)

with my metal detector one day, early 18th century.. Was pretty amazed..
It's the third from the left in this pic of a couple other things I dug up that day.



edit'' Left and right...

[MicaelS]

4. At least they're real.

Unlike cryptocurrencies like Bitcoin.

[Tobin S.]

5. Yeah, buddy. We're talking gold and silver. Two of the oldest currencies known to humankind.

What are you drinking tonight? I've got some Sam Adams Winter Lager. Tasty stuff. I like it better than the regular Sam Adams.

[MicaelS]

6. LOL. I just used the beer icon because I like it.

I just drank an RC Cola. Much better than Coke, Dr. Pepper or Pepsi. Didn't eat a Moon Pie, so all is not lost.

However, when the rest of the RC 12 pack is good and cold, I'm going to make a RC Cola / vanilla ice cream float.

[Tobin S.]

7. 10-4. I like regular RC better than Coke or Pepsi, but I rarely drink it

I'm into Diet Coke. I just read recently that RC was the early pioneer of diet soft drinks, but Coke and Pepsi caught on to the act and people liked their diet stuff better. I'm sure having a huge advertising budget compared to RC didn't hurt either.

[Art_from_Ark]

8. I've only participated in a coin auction once

It was live, and at one point I got kind of nervous because I had unwittingly made a gesture that the auctioneer had interpreted as a bid, on a coin that I didn't want. Fortunately, someone else bid after that, so I was off the hook.

I ended up buying two Turkish 25 kurush gold coins for $20 each.

Collector coins can, indeed, be a kind of savings account, although as you noted, there is also a bit of risk involved.
I personally like to look through "junk boxes" to see if there are any diamonds in the rough hidden among the junk.

[grasswire]

9. may I suggest that you check out shopgoodwill.com?

That is the online auction site for goodwill industries. I saw quite a few collectible coins there the other day, both foreign and U.S. Might be possible to snag a bargain now and then.

[DFW]

10. As long as it's not cash you need to live on this month or next

Go for it, but don't put yourself in dire financial straits.

To some people, $850 is pocket change. To some, it's food for 4 months (or more).

[Tobin S.]

14. This is what we are doing with a part of our tax refund

And, like I said, I see it as an investment. That money will be coming back to me some day, hopefully with a nice return on investment. My coin collection is one aspect of my retirement portfolio.

We're not rich, but we do well enough to be able to set some back for retirement.

[Boom Sound 416]

11. What sites do you use for determining value?

We have a pretty good collection from Western Europe, 19th century.

[Tobin S.]

15. You can get a good idea of a coin's value at auction at ha.com

www.ha.com

If you sign up for a membership, you get access to all previous sales on their site. The price realized at auction there includes a 17.5% buyer's premium. They auction world coins, as well. To get a good idea of what your coins are worth you will need to know their grade.

In a retail situation or private party sale your coins may bring in more than at auction. They could also bring in less.

[Boom Sound 416]

16. Thanks!

Love old coins. Like touching history.

[Art_from_Ark]

17. What coins do you have?

If you can get high-resolution pictures of them, you can join the site below and ask the knowledgeable collectors and dealers there about their value:

http://www.cointalk.com

[Boom Sound 416]

18. That's cool. Thanks

About a hundred or so from Western Europe in fair to worn condition mostly mid 19th century and another hundred or so across Europe and North Africa from the mid 20th century in fair to excellent condition.

[sendero]

12. Please follow up..

... with what you win!

[Tobin S.]

19. Okay, here it is. All prices are with a 17.5% buyer's premium.

1883-O Morgan silver dollar MS-65 170. $170.38

1921 Morgan silver dollar MS-65. $141.00

2003 Gold $10 quarter ounce gold eagle MS-69. $364.25

2004 Gold $5 tenth ounce gold eagle MS-69. $164.50


Those prices are right around the average for winning bids for those kind of coins at recent auctions. I had bids out on two other coins, an 1879-S Morgan and a 2013-W Silver Eagle proof coin that I ended up losing. When I bid, I decide how high I'm going to go, enter that as my maximum bid, and don't go over that.

[sendero]

20. Awesome..

..... thanks for posting!

[DFW]

21. Wise move. It's easy to get carried away.

Stick to where you want to be. there are always more auctions.

[Art_from_Ark]

22. You did OK on the quarter ounce eagle

although whoever sold it took a hit, assuming they only got $302 out of the deal (versus $340 that they probably could have gotten from a dealer). That's one reason why it is a bad idea to sell generic-date bullion coins in an auction.