Starting over from scratch

General discussion board about VAMs, but no buy/sell offers
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brotherlove
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Joined: Mon Feb 18, 2019 11:46 pm

Starting over from scratch

Post by brotherlove » Mon Jan 20, 2020 6:13 pm

If you were starting over from scratch, with a working knowledge of coins, where would you focus?

Most of my collecting dollars are slowly being moved from baseball cards and back into coins.

I have picked probably a quarter of the known MS 1886p VAM 20 for example, so not exactly new to VAM's but my knowledge is limited to a few pet VAM's.

It was more a process of eyeing PUP's than understanding VAM's

I have taken some ANA grading course and have a decent grading knowledge of several series, and have developed a joy in cherrypicking moderns for grades and varieties.

Summing up... Having lurked on the fringes for years, it seems the 1878 8tf VAM14 surper rarities have retreated in price. Are the available discoveries drying up?

Going forward where would you start with new money, found money, and profits from cherrypicks?

Thinking long term as a collector and less of a flipper.

1878 8tf's
Peace Dollars
Top 100
Hot 50
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messydesk
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Re: Starting over from scratch

Post by messydesk » Mon Jan 20, 2020 6:26 pm

Bottom line, look for quality. Tough varieties in high grade or with great eye-appeal. Bang-for-the-buck issues that are PL or DMPL -- use pop reports and value guides to figure these out. Cherrypick for grade in the grade just below where the price jumps. Don't buy a coin you don't like.

Word has it, there's a class being taught at the ANA this summer covering this. ;)
Welcome to the VAMWorld 2.0 discussion boards. R.I.P. old VAMWorld.

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CascadeChris
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Re: Starting over from scratch

Post by CascadeChris » Mon Jan 20, 2020 6:50 pm

If you've taken ANA grading courses, you'd absolutely love the Summer Seminar Morgan Dollar class as Messydesk mentioned. Highly recommend. A week-long experience like no other 😎
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RogerB
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Re: Starting over from scratch

Post by RogerB » Mon Jan 20, 2020 6:56 pm

I would collect items that bring me pleasure and/or offer the opportunity to explore their background, circumstances of creation and influence on events. It's also desirable that your items present forums and engagements with others of similar or supportive interests.

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alefzero
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Re: Starting over from scratch

Post by alefzero » Tue Jan 21, 2020 12:50 am

If I had to do it all over again, I would have bought every 1878 PL/DMPL, especially 8TFs, that came around, I did accumulate a LOT of prooflikes in the 1980s and 1990s, but I did not concentrate on that date. I also avoided Carson City dollars mostly, because they were simply not rare. Could always locate nice ones.

If I was starting out now? Only the rarest and top grades for VAMs. I did go that direction but somehow managed accumulate thousands of not so rare and not high grade ones along the way. That I would not do again. Overall though, I would be doing early dollar varieties. I have developed a definite affinity for those beasts. I probably would limit myself to no more than 100 coins, five PCGS boxes of 20, five times the old Jay Parrino limit.

RogerRock
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Re: Starting over from scratch

Post by RogerRock » Tue Jan 21, 2020 7:16 am

RogerB wrote:
Mon Jan 20, 2020 6:56 pm
I would collect items that bring me pleasure and/or offer the opportunity to explore their background, circumstances of creation and influence on events. It's also desirable that your items present forums and engagements with others of similar or supportive interests.
This is the essence of a true numismatist!
Stage 3 TERMINAL DIE STATE SILVER DOLLAR EXPLORER

brotherlove
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Joined: Mon Feb 18, 2019 11:46 pm

Re: Starting over from scratch

Post by brotherlove » Thu Jan 23, 2020 4:09 pm

RogerB wrote:
Mon Jan 20, 2020 6:56 pm
I would collect items that bring me pleasure and/or offer the opportunity to explore their background, circumstances of creation and influence on events. It's also desirable that your items present forums and engagements with others of similar or supportive interests.

The most enjoyable part of the hobby is learning the grading process.

Took a course with Bill Fivaz leading the class using NGC slabs.

Mostly a PCGS guy, do I grade to PCGS standards? NGC standards? Fivaz standards?

Our table quickly caught onto Bill's tighter standards and won the "class" grading challenge, but the differences in opinion from amongst our group to Bill's and to NGC was a complex and interesting challenge.

Morgans and Buffalo Nickels are my first love, but I have developed a joy for Proof sets and moderns in general.

Cheap enough to pick up at near melt and resell, keeping per coin cost down a bit.

After being in and out of coins depending on the economy or personal financial needs, told my wife I got a seven year plan with a brick and mortar coin shop as the goal.

Going forward, just going to stick to my circle of competence and steadily redraw the lines as my knowledge increases. Join clubs and take the ANA diploma course. Add gold, Peace Dollars, and other series.

Got enough 1886p's to start a die study.

Figure money better spent traveling and attending major coin shows with educational opportunities instead of blindly buying coins without a focus.

Buy the book approach...

brotherlove
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Joined: Mon Feb 18, 2019 11:46 pm

Re: Starting over from scratch

Post by brotherlove » Thu Jan 23, 2020 4:16 pm

messydesk wrote:
Mon Jan 20, 2020 6:26 pm
Bottom line, look for quality. Tough varieties in high grade or with great eye-appeal. Bang-for-the-buck issues that are PL or DMPL -- use pop reports and value guides to figure these out. Cherrypick for grade in the grade just below where the price jumps. Don't buy a coin you don't like.

Word has it, there's a class being taught at the ANA this summer covering this. ;)

Thank you for the advice.

I have family in Jax so hopefully can make the trip.

bobbyjenkins
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Re: Starting over from scratch

Post by bobbyjenkins » Fri Jan 31, 2020 12:18 am

Hi...an interesting question. At first I thought about it from the way-back machine perspective. "if I was starting over from scratch" but 25-30 years ago, what would I do. And then "if I was starting over from scratch" today. The VAM availability and VAM knowledge is so different today. It's hard to cherrypick half of all the list coins now. I would still put PEACE dollars on the bottom of the prioritized list and 8-TF on the top and then Top-100, Hit-List and Top-50. Fun question...I haven't commented in a very long time. Thanks.

morganman
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Re: Starting over from scratch

Post by morganman » Fri Jan 31, 2020 12:51 am

Great Question; With a million answers depending on your goals?????

My early goal was to simply create a small Morgan $ savings acct and to
buy the prettiest/shinyest dollars from sorting at casinos when my dad gambled.
Lavere Redfield helped me collect 1878, 1878 s & CC dollars as well at age 10 +

Later in my 20's & 30"s i also bought US Gold coins with my interest on $10-$5-21/2
indians but a bunch of $20 saints & $3 gold for investment. I also loved bullion gold
and silver.

Then i grew to know about the lack of tax consequences buy investing my business
profits into Numismatica and certain bullion products. What a by chance windall that
really got me excited. NO TAXES= WOW- More free appreciation

Today i would still buy large numbers of ungraded morgans on the cheap, but still
quality. I would refrain from most vams with no to little premiums. I would refrain from
buying slabbed common date/common grade morgans and for sure add more SILVER
GOLD.

My collection is so large that it contains tons of Common date/grades, many
graded from my raw cheap purchases but also many bought over 50 yrs slabbed
As ive stated before, liquidation is a major problem or these and a struggle even at
severe price reductions. If i had this money in bullion, no problem, one phone call
This ill liquid situation is terrible and very bothersome, especially as one ages

Long answer, but my IMHO Numismatics suck right now
:|

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