Another newbie question....
:blush:
Got my Maccas book and I have going over it.
I noticed that there are quite a bit of discrepancies between prices quotes in the book and some of the estimates on numisbid for instance.
The pre-decimals seems to be universally higher in the book than estimates. I have seen many threads discussing this. I guess a book printed a year ahead can never be the same as prices in the open market. It's higher but not outrageously higher.
But then the decimals coins are almost an order of magnitude difference. Take this one for instance
From numisbid:
Australia Type II - 1988 Proof Ten Cent
Estimate: $1000 - $1250
Lot 234 PCGS PR70DC
The same in Maccas is listed as 5??? Am I just making some embarrassingly simple reading mistake???
:blush: :blush: :blush:
A PR or MS 70 coin is a far cry from an uncirculated coin and the value reflects that , a grade of 70 is a PERFECT coin :ok:
Quote from: 'kchan1111' pid='52784' dateline='1403006261'Another newbie question....
:blush:
Got my Maccas book and I have going over it.
I noticed that there are quite a bit of discrepancies between prices quotes in the book and some of the estimates on numisbid for instance.
The pre-decimals seems to be universally higher in the book than estimates. I have seen many threads discussing this. I guess a book printed a year ahead can never be the same as prices in the open market. It's higher but not outrageously higher.
But then the decimals coins are almost an order of magnitude difference. Take this one for instance
From numisbid:
Australia Type II - 1988 Proof Ten Cent
Estimate: $1000 - $1250
Lot 234 PCGS PR70DC
The same in Maccas is listed as 5??? Am I just making some embarrassingly simple reading mistake???
:blush: :blush: :blush:
Blue sheet prices are updated all the time based on market trends whereas Mecca book is updated once a year. I would go by the Blue sheet prices...
Quote from: 'trout' pid='52787' dateline='1403007137'A PR or MS 70 coin is a far cry from an uncirculated coin and the value reflects that , a grade of 70 is a PERFECT coin :ok:
Oh I see... so 5 was just any average proof coin. But grade of 70 PROOF coin is perfection.
I was looking at the magnified pic on numisbid and I honestly never thought how the old humble 10c coin can look so beautiful. :heart:
Will check out blue sheet!
for a newbi (hi!)
these estimates and grades are for a specialty market
the blue sheet has the humble 1964 penny having a value of about 5c (last that I looked)
put a high graded one in a PCGS slab for sale in the numisbid auction and the whole story changes
there are market values and then there are specialised markets - the numisbid etc (purple penny, drake sterling etc) pcgs - is a specialised collector market place
if you are an everyday collector then the maccas or rennicks are just fine as a general buying reference point
never dive too deep if you haven't yet learnt to swim
I can tell from the estimates that the coins on numisbid are no joke! $1000 for a 10c!
My (perhaps misguided) theory was until I know how to spot fakes, grade coins myself, I am better off buying pcgs graded ones. At least I know what I am getting? No?
:-/
dunno
that is your call
I am not a megga pcgs fan so i'd be biased in my advice
get a mentor
hang around a good forum like this one
go to shows
handle lots of coins and get to know what they look like
but if you only collect the rarer coins then fakes are more on an issue
trouble with PCGS grading is that Australian coins are graded in a different system to the American one
what will you be collecting or do collect?
tbh I still don't know yet really. I quite like the designs on all the florins.
I used to have a stash of quite a few different $1 coins designs until someone in the house spent it all! :ireful:
The VC coin ballot on the news got my attention recently. (Yes I was lured in by a piece of what some would considered - grannybait.) But when I came across the high relief mob of roos I just thought jeez that's awfully nice. I would love to do it in a more serious way as a hobby. (Like to start - store them away properly!)
Purchase coins you like, don't spend too much money while you are starting out.
Quote from: 'kchan1111' pid='52921' dateline='1403091987'tbh I still don't know yet really. I quite like the designs on all the florins.
I used to have a stash of quite a few different $1 coins designs until someone in the house spent it all! :ireful:
The VC coin ballot on the news got my attention recently. (Yes I was lured in by a piece of what some would considered - grannybait.) But when I came across the high relief mob of roos I just thought jeez that's awfully nice. I would love to do it in a more serious way as a hobby. (Like to start - store them away properly!)
May I just say that grannybait is pushing $1000 with plenty of bidders. Great choice to start with, Florins. Graded coins is a comfort knowing there the real deal, I nearly lost $717 buying a 34/5 Centenary Florin, lucky I paid through paypal and being refunded total cost. Be careful, sharks everywhere, but that comes with knowledge as I'm still learning as well.
I think grannybait is a terrible term that a (very nice) member here coined (pardon the pun)
the RAM does some beautiful coin work & if you go to the Royal Australian Mint and get a chance to go into the proof making room, you will see those coins in a different light and respect them for the hard work that goes on behind the scenes to produce them (end of rant)
just take your time and enjoy where ever the hobby takes you
I started with notes, then decimals and gradually developed an interest in the aussie pre-decimals
I have a fabulous mentor and have learnt a tremendous amount from him - grading, history minting processes, market forces, about being a coin dealer (buying ad selling) and so on
the purple penny blog has zillions of articles and photos - it is a good starting point if you are good with the internet
plus the PP shop has archival quality coin storage thingees too
Quotewhen I came across the high relief mob of roos I just thought jeez that's awfully nice.
Me to, nothing wrong with grannybait that actually looks like an Australian coin and being a Fan of the 25mm $1 issues it was a "No brainer" for me to grab that coin :angel:
Mob of roos design and a Piedfort coin to boot, You can balance this puppy on its rim :dance2:
It is currently at the "Plastics Factory" at the moment.
Sad to hear that your collection got spent, That is so sad, The $1 coins are hard enough to get a full collection without uncaring sods spending them on you.
Sorry for your loss Mate.
P.S.
You will learn a lot from this forum as I am, folks are nice and massively cluey with there coins.
Quote from: 'robbiegal' pid='52926' dateline='1403092727'I think grannybait is a terrible term that a (very nice) member here coined (pardon the pun)
the RAM does some beautiful coin work & if you go to the Royal Australian Mint and get a chance to go into the proof making room, you will see those coins in a different light and respect them for the hard work that goes on behind the scenes to produce them (end of rant)
just take your time and enjoy where ever the hobby takes you
I started with notes, then decimals and gradually developed an interest in the aussie pre-decimals
I have a fabulous mentor and have learnt a tremendous amount from him - grading, history minting processes, market forces, about being a coin dealer (buying ad selling) and so on
the purple penny blog has zillions of articles and photos - it is a good starting point if you are good with the internet
plus the PP shop has archival quality coin storage thingees too
I though grannybait was the lingo in coin world , not just what someone here made up. Not hard to guess.
The term "grannybait" or "granny bait", as a disparaging term for new releases from the mint, is not unique to this forum. I think the Canadians can claim credit for coining it. The RCM has certainly had a worse reputation than either of the Australian mints, not only for producing it themselves but also for on-selling such issues produced by other mints.
It's my fault that my little $1 collection got spent. I just have it in a jar. Hardly the most professional storage solution. I now realise they are a lot more delicate than solid lump of metal.
I have been reading this forum and many other blogs, including pp's. The more I read the more fascinating I find it. I am limiting myself to under $100-200 or so max on anything I spend - limit the damage if I make a mistake. But even some on Numisbid is less than that. So giving it a go. :)
I work very close to couple of coin shops. Wynyard Coins and Jaggards. So much too look at in Wynyard Coins. And this fancy looking place called Noble - so fancy I feel too intimidated even to go inside!
Next time I'm in Canberra will definitely go visit RAM.
I think term grannybait is more disparaging for the granny's, considering what some of them looks like. No respectable granny would consider such rubbish.
Quote from: 'proof27' pid='52925' dateline='1403092657'May I just say that grannybait is pushing $1000 with plenty of bidders. Great choice to start with, Florins.
If I got in the ballot (I didn't!) I would sell it on eBay and use the money to get me some nice Florins. :yahoo:
Grannybait is a term I use for many nclt coins. From Franklyn mint to the Perth Mint. It doesn't mean I dont buy it or don't like it I just see limited numismatic value in it. I see it as silver/gold bullion with a slight premium and I would suggest you do the same. IMHO anything than proof, specimen or buisness strike circulating currency is grannybait
Wynyard Coins are great so is Prospect Stamps and Coins
Yeah, Wynyard Coins looks awesome. Prospect Stamps and Coins is a bit far for me though.
How do people amass their collection? Say for Florins, try to get one of every year then gradually upgrade and sell the one's you've already got. Or have a certain minimum grade etc in mind and fill each one by one slowly over time.
I buy most of mine through ebay or from o/seas dealers via the internet and
generally go for the George V coins in the best grade I can afford at the time
although looking seriously at many of the high MS or PR potential early decimal
coins as their value is starting to skyrocket for some of them.Best to get in
while they are cheap
Quote from: 'kchan1111' pid='52976' dateline='1403148612'How do people amass their collection? Say for Florins, try to get one of every year then gradually upgrade and sell the one's you've already got. Or have a certain minimum grade etc in mind and fill each one by one slowly over time.
I have a file of all my best silver pre-decimal coins in year order.
I have one of each year and when I get a better example of a date I move the old one into I another file I have full of florins or sixpences etc which I call my reject storage files
that way I am constantly upgrading my set. I eventually hope to (in many years)have a complete set of unc predecimal silver coins
I don't sell my silver Australian pre-dec coins, ever
others end up living on my desk until the missus cracks it at me and tells me to clean up then they get put away
been a few weeks
(http://www.australian-coins.net/gallery/albums/userpics/11197/5654.JPG)
Quote from: 'serial' pid='52945' dateline='1403101351'Grannybait is a term I use for many nclt coins. From Franklyn mint to the Perth Mint. It doesn't mean I dont buy it or don't like it I just see limited numismatic value in it. I see it as silver/gold bullion with a slight premium and I would suggest you do the same. IMHO anything than proof, specimen or buisness strike circulating currency is grannybait
but but
nearly all the granny bait are proof issues
that is the part that I don't get?
Quote from: 'serial' pid='52994' dateline='1403158852'Quote from: 'kchan1111' pid='52976' dateline='1403148612'How do people amass their collection? Say for Florins, try to get one of every year then gradually upgrade and sell the one's you've already got. Or have a certain minimum grade etc in mind and fill each one by one slowly over time.
I have a file of all my best silver pre-decimal coins in year order.
I have one of each year and when I get a better example of a date I move the old one into I another file I have full of florins or sixpences etc which I call my reject storage files
that way I am constantly upgrading my set. I eventually hope to (in many years)have a complete set of unc predecimal silver coins
I don't sell my silver Australian pre-dec coins, ever
others end up living on my desk until the missus cracks it at me and tells me to clean up then they get put away
been a few weeks
(http://www.australian-coins.net/gallery/albums/userpics/11197/5654.JPG)
That's quite a collection!
This evening I spent I couple of hours watching the live auction room on Numisbid. Tentatively made a few bids on the Florins. Didn't win anything though. But came close winning a 1960 MS65 Florin for $51. Got outbid in the end by just $4.
http://www.numisbid.com.au/Browse/1960_Florin_PCGS_MS65/8859
The proofs were pretty much bang on estimates. For a whole week my $100 bids on a couple of them were winning. But I knew it wouldn't last.
The MS some went for fair a bit lower.
A few went for quite princely sums in the thousands. Woow!
that's just what's on my desk you will get there one day
Very impressive! You must have spent a lot to accumulate so many.
Quote from: 'kchan1111' pid='53077' dateline='1403234703'Very impressive! You must have spent a lot to accumulate so many.
That's the junk you accumulate looking for good coins :angel:
this is the sort of thing that happens when troutoffski empties his pocket after only a week away :angel:
Quote from: 'trout' pid='53078' dateline='1403234844'Quote from: 'kchan1111' pid='53077' dateline='1403234703'Very impressive! You must have spent a lot to accumulate so many.
That's the junk you accumulate looking for good coins :angel:
sorting that junk got me 15 good coins and a couple of good notes
the buffalo is my handle piece ant the 10/5ozers are just recent buys
so yes trout nailed it on the head.
I will seal this stuff up and store it until I either get desperate for money or the kids are picking through the house to see what their recently deceased nutter dad has hoarded
Quote from: 'serial' pid='53093' dateline='1403239806'I will seal this stuff up and store it until I either get desperate for money or the kids are picking through the house to see what their recently deceased nutter dad has hoarded
Yes serial I suppose we all feel like nutters at times but if we enjoy
it then it is essential to our health
haha you say that now but if I showed you my 1 and 2 cent coin hoard......
Quote from: 'serial' pid='53126' dateline='1403260326'haha you say that now but if I showed you my 1 and 2 cent coin hoard......
It's OK to bite off more than you can chew.Just makes it a challenge
I just pick out the good stuff eg 68s, no sds, ms pre 80s and then break the rest into 3 piles
scrap
good
great
scrap goes into 3ltr juice bottles
good and great get sealed in pvc cryovac bags in 3kg lots and stacked anywhere the missus doesn't have to see them often
Wow such a big collection.... 3kg lots...
Serial, you must have more than a completed set of everything by now from the sounds of it. Do you still try to collect the coins you already have? Better grade? Never thought of trading away the lesser quality ones?
Was at Wynyard Coins today. Their little colour catalogue says that there will be 2 days sales next Thu. :yahoo: Really looking forward to may be getting my first florin. (Must sound pathetic to you haha. :angel:)
no, I have trouble with key dates. 1932 florin is proving elusive and I didn't really get into copper pre-dec
I have also only been collecting for a year and a half so got heaps of time to catch up with people
generally I don't sell silver. I only sell what I have to pay for supplies (mylar/2x2's etc are expensive!) and to develop a good online rep so if the day comes that I have to sell my collection I wont get ripped selling it at a dealer.
my advice would to listen to what others say. start small and work your way up. learn your stuff before you pay to much. then the mistakes that you WILL make (every one has) will only be small ones and wont put you off collecting long term
Cool thanks. :)
Mental note - stay away from dealers when selling.
depends on what you're selling & where really
often dealers buy in bulk and take the risk that they will be stuck with a whole pile of junk for many years
then they fleece out what is worth their while to sell individually and then bulk sell the rest (or scrap sell)
one collectors treasure is another dealer's junk
that is why so many collectors use ebay as a selling platform
you can control what and how you sell your gear
an ebay shop is minimum $50 month so you have to make $50 in sales first to pay the rent
so you have to add up the figures
others just sell straight from ebay with no shop fees
either way you have to pay to sell your gear - one way or another
no matter where or how you sell it
others who are more internet savvie - maybe like today's new poster -create their own websites - then you have to get the traffic coming in and using a social media platform like this or facebook as a gateway is one way to get the hit rates up
then you gotta sell effectively from that website (i.e. check out etc)
and so on
I have been selling on ebay for about 9 years now, so it takes a bit to get it right and wrong but you learn along the way
tried other ways but ebay gets the best results so far , for a little collector like moi anyways
Walter has built his website over many years and his hard work is now paying off ; same for the PP website
but both parties are very internet savvie - someone like myself couldn't do what they do
I didn't say stay away from dealers. They are not all bad. But if you are trying to sell a large lot of coins in one big lot you are going to take a hit unless you have a system of disposal in place and that is why I sell on eBay. I develop a good rep and learn how to sell things etc so if I needed I could sell a chunk of my collection quickly with minimum loss of money
Be thankful that if the sh#t ever hits the fan for you at least you can take you collection to a dealer to sell and get quick cash even though I would recommend listing it here 1st
Understand robbiegal. Which ever way there is cost. I have been using eBay for over 10 years - just not buying/selling coins. I stop selling on ebay after they pretty much forced you to offer paypal. The extra cut just didnt make it seem worth the effort any more.
There are some pretty cheap bargains in Wynyard coins by the kilos. I figured they wouldn't be foolish enough to let anything good escape. :)
Numisbid is pretty impressive. I have spent two evenings watching auction room actions. Not the prettiest site for sure but works well. I think I will get a mini album from PP soon once I have start getting some nicer coins.
I don't ever plan to sell the coin collection as a way to raise fund for emergencies. :) Might sell it to raise money for a better coin. Well I know dealers have to make a living too.