As the topic subject says I am a newbie in coin collecting and I was wondering what way is the best to get coins where I may find something worth something in a lot. I have a lot of coins at the moment but due to covid19 obviously can't go out to the places I like to go so ebay is sort of the only place I can look.
I can't spend a lot of money and I seem to like lots which have lots of coins in. I don't want to make loads of money but would like a little jewel in my collection, one's I will keep and admire. I'm sorry I don't know if this makes any sense really.
Where is good to get a decent bargain for how much you spend but not get ripped off with a load of rubbish.
When it comes to lots on eBay it can be a bit of trial and error. In my experience, buying from established coin sellers doesn't carry much risk but they know what's valuable and have either already filtered out most of the exciting finds (especially precious metals) or charge a premium for what they know is a decent lot. Where I've had a bit more luck is in looking for sellers who don't specialize in coins but end up with them. Estate liquidators can be especially good. Sometimes they mark things up ridiculously because they just assume that coins = valuable, but others just want to offload coins that they don't want to deal with. Some sellers will stage searched lots to look like they came from an estate, but I've found a view that were the real deal and had some pretty cool things in them (from my perspective at least).
With lots you're probably not going to amass significant melt value or a collection of rare, MS-70 pieces to retire on. However, you can still find some interesting coins and build a pretty good circulation collection without bankrupting yourself.
Sjoelund's advice about meeting locals is also excellent. The pandemic might make it harder, but that human connection can take away a lot of the headaches that come with online sellers.
"you want to get rich at this? like winning the lottery..."
- I agree with this (it's pretty tough to imagine).
There's really no way you're going to find much of value from buying lots unless as "seltsamesammler" suggests, you can be privy to some estate auctions but this too could be a problem if you get into a bidding war with someone of similar intent (or a newebie). Most people who stash some old coins (or banknotes) away typically have no idea what they've stashed. They pass on & most of this stuff (like 95% or more) are not key dates or that collectible.
The thing is: there's no real quick way to assemble a collection. There's no overnight solution to education. You have to slug it out like the rest of us. Learn what the key dates are. Learn the difference between "collectible" & just nice to have. Start grading now. Learning how to grade is absolutely essential if you want to be a collector for any length of time.
You do have the advantage of being part of the Internet generation so you can tap into some great sources of info, but other than that, you've to teach yourself what you should be looking for (collection wise). You'll also have to be wary of social media, hype & gross exaggeration as there seems to be more "experts" out there than there truly are. The Internet has nearly decimated LCS (Local Coin Shops) since there's 0 overhead & you can find the odd "deal" out there but generally speaking its far better to buy with the item in hand (so you can inspect it). You are always taking a chance unless you're buying a certified (graded) coin (& even then some graders are too generous while others are stingy). You have to learn who's who (in that regard too).
One hard rule you can't lose by is buy less or quality over quantity -so puts lots right out of the picture. If you were thinking on buying $50 worth of junk silver, why not put that same $50 towards one good coin in great shape?
There are ways to save $ and the most important is probably starting out on the right foot (forget lots). Go for as high a grade you can afford. Go for less & always seek 2nd opinions (or join a local coin club, etc.) Once this pandemic has started to simmer down, you'd might want to take advantage of some of the live face-to-face coin shows, etc., too as they're very educational. Good Luck!
BTW: a good read by Spruce Crafts outlines some of the worse traps to avoid (as a collector). Worth checking out (& bulk lots are in there). Also, feel free to visit my site if you're interested in buying paper money.
