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How coin & sport card collectors can have fun and make money in coins & cards 

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Tips and strategies for coin & Sports Card collectors

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  Hi  (richcoin1 on ebay),  Richard Irby is my name and I am here to guide you in your buying, selling and trading of  rare coins and sports cards.
A little about me and how I can assist you in your coin or card collecting hobby.

I have been buying, selling and trading coins for over 25 years and enjoy dealing in coins. 
Having read many books by the top coin dealers and collectors, I see a need to 
add some additional tips and ideas into this hobby of Kings.

Collecting has been with us since the start of time. Humans have a desire to collect things. 
But collecting money is a little different if you are trying to make a profit. 
It is very wise to specialize in a few types of coins, so you can better understand the market
and how the coins in these areas are minted...ie: buffalo nickels from the 1920's have
weak strikes and thus it is hard to find full date coins. 
These coins will command a premium price today and in the future.

Many collectors think they have a rare coin or sport card and go to a dealer to sell it or see what it is worth,
only to be dashed to the ground when they are told it is common or in very bad shape. 
Not every old coin or sport card is rare and worth a premium.

I will try to show you what makes a coin rare and worth extra money over the face value.
Some people may be upset but, it is information that is needed in making good purchases for 
your coin collection. It is ok to look at $5000.00 and $300,000.00 dollar coins and 
read about the super rich who buy these items, but for the regular coin collector 
or the new collector, a different strategy is needed.

First; when buying coins or Sports cards find a dealer you can trust and feel comfortable with.
Sometimes this can be difficult but not impossible. There are many ways to find a good dealer.
Mail order, local shop, internet are where I usually do business but have also found good 
dealers at flea markets and coin shows. I get their card and then can get coins 
from them in the mail. Remember it is your money you are
spending on your hobby, so shop around.

Second; buying anything that comes along...Get a copy of Photograde Guide from a local shop 
and study the coin pictures and a few coins you have.
Learn to grade these coins for yourself..I could tell you to buy Enron and then watch you lose all your
hard earned money but I won't because I believe in hard assets, 
like real estate and gold and silver and rare coins and sports cards.
Paper is just paper...Sorry to sound harsh..Just my view.

When you learn to tell a good grade coin from an extra fine grade coin 
you will be able to spot desirable coins and buy them for bargain prices. (sometimes).
Many collectors try to start out collecting full sets and this is a good idea as
sets will command extra money when sold. There is one thing you must remember 
when doing this with old rare coins...there are key coins that cost thousands of dollars
and you may not be able to complete your set...
It is still a good set of coins if you follow the tips and strategies learned here.

Third, you hear all the big guys saying buy the book before the coin which is fine if you are 
collecting high grade or very old rare coins. If you are just collecting pennies, nickels and 
dimes there are only a few that cost an enormous amount of money,
these rarely trade and you may never see one of these, 
as collectors keep them forever. You can read about them in coin hobby magazines.

Buying the book is good advice as it will pay off to read and learn about you hobby, coin collecting.
When purchasing pennies, nickels and dimes look for grades from good to extra fine and 
try to keep the price in your budget...Coins and cards are a long term investment..
20 or more years is about right for getting large profits. 
Sometimes you will find you have a profit after 3 to 5 years and this is ok too.
You may even have a profit after the final sale if you learn to buy right.

Just remember that if you buy something today and want to sell it back to the
dealer next week you will probably take a loss on the item. 
The dealer will pay the ask price and sell to you at the bid price. 
This is normal and how the dealers make a living...
So look carefully at your purchase and make wise choices.

Another thing to watch for is acid date coins and cleaned coins. 
If you find these coins just leave them there. You don't want them they are junk.
I see a few people selling these items on Ebay (tm) and am not interested, 
however you may want to buy a couple cheaply so you can study them and see what
they look like close up so you won't be fooled by them. Junk is junk. 
There is nothing wrong with spending a few extra bucks for nice quality coins. 
Many collectors do and some only buy the best, but you better have deep pockets
and it is not necessessary to making a profit from coins.

Fourth, many collectors have a limited budget for coins to add to their collections
and look for coins in the good to very fine grades. There is nothing wrong with this as
there are many more collectors in this area of coin collecting. 
It is also easier to sell the coins later. The other thing to watch for is over grading and
over priced coins. You will hear many people telling you to only buy certified coins
but are you sure they are graded correctly.
I and my dealer friends have seen MS60 coins being sold as MS63 and other wild stuff.
You also will pay extra for certified coins as they will have the cost of certification added to the coin...
Learn to grade raw coins and you will be able to find great coins that will be in the MS61-63 area selling for AU..

Ok I threw you new coin collectors a twist there...
MS is just a description of the state of the coin, ie; uncirculated never made it into the retail market of consumers.
Some banks will have rolls of uncirculated coins that may be desirable 
to purchase as collectables. The new nickels may be just such a coin. 
But you may have to wait many years to make money with them as there 
are 100's of millions being made. Also as with new issues from the past 
many people save these and then they never really become rare.
Look at the 1964 Kennedy half dollar. Everyone has a few and they sit there at $3-$4 bucks each... Sports cards are also listed as poor, good, excellent, near mint and mint. These are also being graded.

On the other hand look at the 1914-s and 1915-s Buffalo nickels, these came out in 1913 and there 
are a lot around but when you get into the next couple of years they get hard to find...
Most Buffalo nickels in the 1920's are hard to find too as there was war going on 
and not many got saved or made by the US mints. 
Mint marks are also hard to find in these years too. Hmmm sleeper coins...

This is an area that involves some speculation...
Sleeper coins & cards are coins and cards that have low prices but can increase in value when; 

1. a new coin is minted, 2. investors get into the coin market, 3. dealers push common coins to buyers. A sports player does good in his game or goes into the Hall of Fame.
There are times like now when you can make good profits with these types of coins. 
The new nickels are pushing up demand for old nickels and prices start to go up. 
Also the new quarters are helping old quarters rise in value...

Rolls have been bought and held for profits when new coin designs have been announced by the Mint. 
Right now there is talk about redoing the Roosevelt dime..(about time)
so this coin is a sleeper...especially in the older silver issues and proofs. 
However mercury dimes will increase in value as well if and when this 
new dime becomes a reality. They are already highly collected. Enough about speculation.

New collectors ask..what should I collect...this is easy...
collect what you like and can afford...never just buy anything because it is there. 
If you like Morgan silver dollars and buffalo nickels...then collect these. If you like sports cards, Baseball,Football, Basketball, Hockey or Boxing then collect these.
You will learn the coins & cards better than the average collector and will find good deals and bargains. 
Just don't spend more than you can afford to, and always have your 
rent and food money separate from coin money.
It is not a good idea to have to sell your coins too soon. 
Also keep some extra money for a special deal that pops up now and again. 
You may even have to use it for an emergency,
but it is better than having to sell part of your coin collection too soon.

Another way to collect is to only include coins with precious metals in them...ie; gold, silver,platinum...
Many collectors do this and it is a good idea. You get a double play with this tactic. 
The coins have numismatic value (rare) and they also have the precious metal value. 
This helps to keep the coins in a stable price range and they will also rise with the value of their metal content. 
This is also a double bonus as the coins can increase when inflation scares or war are on peoples minds.

Another way to collect sports cards is to purchase the rookie sets each year. Not all the cards will increase in value, but a few may become the next Willie Mays...

I have given you a lot of good information here. 
Now put it to good use and get your coin collection making you some good long term money, 
and remember to have fun looking and enjoying the mini art works of your coin or sports card collection .

Come see my coin auctions on Ebay (tm) Click here
richcoin1 is the seller there.

Richard Irby ... The coin and sports card collectors friend...Bringing you quality rare coins & Sports Cards at fair prices.

Have questions, send an email with coins/cards in the subject to:   richcoin@rarecoins4u.com