You CAN'T believe These Myths Coin Collectors!!
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- čas přidán 19. 02. 2024
- These Myths Prevent Coins Collectors From Being Smarter
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These Myths Prevent Coins Collectors From Being Smarter
BUY COINS From Us portsmouthcoinshop.com/
Go to our help community here for coin help coinauctionshelp.com/forum/index.php
More videos! www.youtube.com/@CoinHELPu/videos
Join CONECA conecaonline.org/
Daniel Malone @CoinHELPu purrfect video
10$ ME 60006666 A , general price?
One point that you skirted is - Just because it is old does not mean it is worth more. I dealt with that when I was selling antiques and appraising said antiques. Old does not mean valuable.
I tried to remember as much as I could lol
I was going to say the same thing. I had someone tell me they had a 1920-P wheat cent, and because it was so old it *had* be worth something.
I told them I have more than a roll of that date, and 1919-P as well.
Bob Ross what u be pInting this week?
Daniel has mentioned this fact in MANY of his videos and coin PSAs in the past. Recent past even.
If I'm on a forum for coin collecting, and I see a coin I know information about, I try to share as much knowledge as I can to answer their questions. Sharing information should hopefully never be looked at as being a 'know it all". As the saying goes knowledge is power and you can always use the information to make smart informed decisions, especially when it comes to potentially buying coins from dealer shops, private sellers, or online.
I'm one of those people who have been collecting for over 50 years. I used to think I knew a lot. Truth be told, I have a fair amount of knowledge about type coins because that's been my focus forever.
When I found this channel, I found out there's worlds of things I'd never even heard of in coin collecting.
That's done a couple of things for me. I now have a broader range of interest, and sometimes, I buy modern commemoratives, and I've even bought some foreign coins just because I liked the designs, and wanted to research them and learn a bit about them.
The downside is now I'm spending more money. 😊
I have been collecting for 70 years! And am amazed at the knowledge of some young dealers, and amused by some old timer who only knows what comes into his shop!
You nailed it. My grandpa had bags on Kennedys. I picked out the silver ones and cashed the rest to buy silver eagles. Why did he save them all? Just like you said, he was a Kennedy fan.
Daniel’s coin info slaps hard. Learned a lot about the hobby over the years from watching him.
Keep up the groovy vids
This guy is absolutely honest! I have commented on his videos before. This is a great channel for people new to the hobby. I have been collecting for about 10 years now and I feel I have a fair amount of knowledge, but I am always willing to listen to dealers and customers for that matter at coin shows. Yes, the dealers are in it to make money, but good coin dealers will take the time to talk, explain, and do what they can to sell you a coin you want. And as Daniel says, it’s about what you like, not necessarily the big values you might see or even have in your collection. Thank you Daniel!!
I started collecting in 1968, when I was 12 years old. Late last year, I sold my collection and ended 55 years of collecting. What was an enjoyable hobby is now a big-money business. In my opinion, the onset of third-party grading and slabbing is what destroyed the pleasure of numismatics. Unless you have at least mid-five figures to spend, the major dealers and auction houses are not interested in you. My most recent experience with Stakccs and Heritage Numismatics, where I had been a modest but steady client over many years, only proved the point to me. I was either ignored or rudely treated. Davisson's is a big exception, I was always well-treated there. E-bay is worthless unless you are selling bullion, as the coins for sale are for the most part way overpriced. The gentleman that made this video made a lot of good points and I applaud him for making it.
I'm a newbie. And have probably watched 15-20 hrs of your videos in the last week. LoL I've only one other channel I'm really partial to. But yours is ABSOLUTELY my number one go to. Ty so much. 🤗 Daniel😏
Awesome! Thank you!
Bravo once again!👏👏👏👏👏
My friend I am so glad I tuned in , we need more people like you for people that's pretty new to learning the coin collecting hobby plus
Thank you, R,Crum
"Buy the book before you buy the coin" used to be something you heard often but ANA members have a free lending library of over 130,000 books, periodicals and DVD's that they can borrow from. Maybe I'm old-fashioned but you can't get a better numismatic education than what the ANA offers. Great video Daniel.
That eBay one is so true. I sometimes "watch" items that I like the look of but are too high in price, and some sellers end up sending me offers for it for way less than they initially had it up there for. For example, there was a coin listed for $100, but the seller sent me offers for $82 which I ignored and then down to $48 a few days later which I accepted. It turns out that coin wasn't worth $100 after all.
Daniel is always teaching and entertaining me on a constant basis. I appreciate it. You don't have to do what you do with your channel and information. I soak the information up like a sponge.
Thanks Daniel, everyday is a learning.
Good stuff as usual Daniel thank you. Ive been watching your videos for about a year now and you do a great job of showing the reality of coin collecting. I cant tell you how many people ive spoken to that have a common coin that they think is worth hundreds of dollars because they "saw it on ebay"
Thanks for sharing, Daniel. Hopefully people will watch this video and learn !! 👍👍
You give great advice.
Thanks Daniel. Excellent Myth debunking.
Another great video, Daniel. Congrats on getting to 172k. I'll get getting the word out about your channel. I know it's will keep growing. Thanks again for all you do, Daniel, and have a great day.
I have a suggestion for a video.
I am a Librarian by training, and I am fascinated by the bookcase behind you.
Would you consider doing a video about the reference books you have?
Great job as usual. I’ve been collecting 60 years and have barely scratched the knowledge surface. There are so many sub-specialties like errors, ancients, colonials, type coins, set collections, registry sets, and on and on.
As always great video, thank you Daniel ❤🎉🎉🎉
Good info Daniel 👍
My local coin dealer told me about a coin that he had graded a few times, and always came back the same. He sold to someone, who knew a person working at a coin grading company. He sent it in, and it came back with a higher grade.
My family (back to the C mint) have been collecting coins since as long as I can remember. I was robbed of my family collection not long ago. I have begun to rebuild. Now focusing on pocket change and cherry picking. All these collectors and experts and help has helped me through to transition to errors and big dreams. When you lose everything...any little hope helps!!! Many thanks..
Thanks so much ❤
Excellent video I enjoyed it
Just got my Mega Red Book 9th edition...holy smokes, it's humongous! Enjoying reading it so far. Thank you for all you do, sir 😊
Congratulations Daniel!
Thank you!
Thanks for the video and information. I think you have educated me some,. the coin value is what someone will pay for it .You started videos in 20 18 I started on CZcams 2017
Read the red book daily. TY Daniel!
VERY VERY TRUE DANIEL 😮
Thank you
Good video, thank you Daniel. I know only enough about coins to realise how much I don’t know 🙂. The US Mint may not rip you off, but the UK’s Royal Mint? Hmm….
I for one did not know that about milk spots !! I always "assumed" they would not grade MS70 if present at the time. I'll be dang !!!
Great info as usual Daniel 👍👍👍👍👍
Great vid once again, Daniel, I don’t know how in the world you keep it up..
CZcams is not easy … lol
No it's not lol, but it's fun!
Congratulations on 171 k sub
Thank you so much 😀
I like Ike, I have a few. Thanks for the video.
Oh I would rather have a contact mark than the ugly milk spots honestly. But then again I don't like the shield cent anyway. I am however adding them to my my cent collection. But I don't have to like them. Great video Daniel 👍
We ALL are still learning about coins
I have some coins that arnt worth anything but I keep them because I like them! Coin collecting 101. Then there are others that I like such a Peace dollars or CC Morgan's I like because they are scarce, and pre 33 gold coins.there is a numismatic value to some. What I don't like nor agree with is getting a gold Maple or Buffalo graded because those coins were never meant for daily circulation.
I would think it would ruin a grading company if they were to give certain people grades on coins that wouldn’t stand up to the grade given. It would give a third party grader a bad reputation to be influenced by anything other than the actual condition of the coin being graded.
Great information that you shared, Daniel.
Vault box is grading their own coins they are selling and being as they are in different packaging and grade scale id say they probably have a specific crew doing the vaultbox coins. And since they are grading their own coins I think they have plenty of incentive to grade them high. I don't trust it that's not third party grading
I have a lot of respect for you and what you just talked about. Appreciate you being honest and not a know it all greedy SOB... Lol..
i have a question i need help with coinhelpu my question is with the 40s or 50s proof sets did philli only mint them??
Yes
Congratulations on your 171 k way to go
Thank you!
Thank you Daniel! Do you know if CACG limits backing their grade of copper coins to 10 years like NGC does?
I would ask CAC, I don't know, but assume they would.
Thank you. I need to start reading my coin books more. I have been slacking 🤡
Sir how about demo...sample coin are they rare...pls. do some vlog ....hoping...Ty
I thought cause your on tv that you are wise lol jk sounds advice.i still use your videos to learn from . Very useful advice and knowledge ❤❤❤
Daniel, I would like your opinion or a video on first strikes/first day of issue. I think many people believe that they are worth much money
Isn't a 70 grade a 70 grade all being equal. Like same grading company, same year, different month production. Also if you could, what is your opinion on toning/ rainbow coins. Thanks
You ask these questions in our coinhelpu community.
What should I store my coins in ? That will protect them and not cause any corrosion or whatnot....?
I bought 20 ms69 1996 ase's to fill a box ... one of the slabs was chipped ., I didnt complain or send it back. What would you have done if I may ask sir ? I got them from SD fyi
I rarely ask for returns.
Here is a suggestion for a future video.
From time to time, I see videos claiming that common date coins in high grades sold for prices that are simply not believable - at least to a knowledgeable collector.
One recent example was some guy put up a video claiming that a 1949-D Lincoln cent sold for over $7500. This was followed by people in the comment section thanking him for posting the video. This was also followed by several young guys coming in to the local coin shop with loads of wheat cents thinking that they just hit the jackpot.
I left a comment for the guy telling him that I had about a dozen of those coins that I would be glad to sell him for HALF of what he said they were worth - giving him an opportunity to double his money. The response? Crickets.
However, every time somebody posts one of these videos, a few people will come in to the local coin shop with some of whatever the video was about, and again, thinking that they had found the holy grail. I really have to bite my tongue to keep from bursting out laughing.
I may not always agree with you, but you are doing a good job in educating the public about coin collecting.
I have the same issue in my coin shop. I will think on this video idea, although I've done similar videos in the past. Maybe I can think of a good title that will grip people and maybe it will go viral?
What are your thoughts on people hoarding copper Lincoln cents?
You can't melt them.
My friend JB I find a 1964 smaller penny in USA can you tell me about it thanks
GOOD DAY PODNA !
Good day!
Is there a good way to clean coins without devaluing the coin 🤷♂️
another myth i always hear is ‘BU coins are always mint state’
Wait, my personal nostalgia isn't worth anything to strangers when it comes to coins? But that personal meaning is worth money to me! And you as a stranger should buy that personal meaning from me for cash!!! 😂
Do you think grading companies swapping coins
I have wondered that. I started taking pics of everything before I submit now.
Nope, but there have been mistakes, I've heard.
I submitted 10 coins to A. Those were coins from collection and it was never cleaned. I received them back and 5 of them show that it was cleaned, but that’s not possible. What can I do in this situation?. Thank Daniel
@@alberta1860 I don’t have advice on that. Sorry
In my estimation IF someone has a big bag of pre 1964 Roosevelt dimes, $1.50 - $2.00 each is a pretty good return.
Like to see these nonsense news stories about certain common coins (like the bicentennial quarter) stop, because they pass on false information.
To me the mint does seem greedy. Their margins over the spot price have gotten a lot higher. I doubt they could show that it is just because of a higher cost of making the coins.
So who's making the profit? All their revenue goes into wages, benefits for employees and expenses. No one is taking profits like a regular coin business.
@@CoinHELPu I don't know their books so it's hard to say. Could be they gave themselves big raises and perks just like most federal bureaucracies. All I know is that my mint purchases have dropped off dramatically because of the cost. Like a one ounce gold coin I believe has nearly a $1000 premium. Wow. Of course that's the collector coin but that's what my demand was for mostly.
Their books are public knowledge, there's no secret raises, you can see their fiscal budget info every year. Just because prices have went up doesn't make them greedy. All businesses have raised their prices.
@@CoinHELPu True about that. (Many costs going up) I'll read their budget next time I need some help falling asleep. I'll trust that you have though but whatever the case, they are getting less business from me. Part of that I imagine is that their products are less appealing to me lately so combine that with the cost it's real slim Pickins.
In your example of what a coins worth...I have to disagree. You used an example of someone paying $200 over list for a coin, the buyer obviously thought it was worth that, so it was. The next buyer may think that the same coin is worth under list, and so it is. To them.
What the seller thinks is irrelevant. The coin is only worth what someone will pay for it. Book might say it's worth $40. That's meaningless if no one will pay $40.
Of course, over the course of many sales, the mean price will be determined by the masses, but it's the individual buyer that has the final say on what a coin is worth.
You're incorrect, the buyer pays what the seller is offering almost every time, except when the seller or buyer negotiates a little less. You must not go to coin shows or coin shops much, you pay what the seller has on the coin. You rarely get a different price or a price much different than what's on the coin. You could not be more wrong. I've sold millions in coins, so I know how this works.
@CoinHELPu again, I disagree. I've been to many coin shows and coin shops, although that has absolutely nothing to do with the subject at hand. Like everyone else, I have not bought items I thought were priced higher than their worth. You claim that "almost every time" the buyer pays what the seller is asking, but that only accounts for those who bought and not those who did not buy because they felt the item wasn't worth the asking price. Those who bought felt the item was worth asking price. Those who felt the item was not worth the asking price did not buy. Bringing us back to my original reply, an item is worth only what someone will pay for it, the seller can post any price they want, but in the end, the buyers determine the worth.
First off, I plainly stated that there's some negotiations if a buyer wants a better dealer. However, the buyer does not determine the value. One transaction doesn't set the value either. It is BUYERS AND SELLERS, plural, that set the values and price guides. If you find a $50 coin, but you think it's worth $45, and the buyer agrees to sell it for you, then it is NOT now worth $45, it is still valued at $50 because several buyers and sellers bought it at that price.
Now if, in the future, more buyers pay $45, then the price will come down, but your one sell did not set the value for that coin. You're wrong if you think it does.
Coin shows are relevant to this discussion, you don't go into coin shows and tell dealers what the price of their coins are, they already know, and have them priced. So you can ignore comps and price guides all you want, but you will never be correct about coin prices. They're set between sellers and buyers, again, plural.
You can't change that fact or erase comps and price guide values because you have a different opinion.
A buyer gets the coin for what it is worth to HIM, IF the seller agrees. That's why I bid on auctions so often: I can bid what I think the item is worth, and sometimes I win, but usually I lose. I win about one out of thirty auctions that I bid on.
I'd argue that the same item becomes worth more if a brick-and-mortar seller puts a fixed price tag on it. But a buyer can ignore that and try to get it for the price he thinks he can get it for at auction. He will almost always be unsuccessful.
@CoinHELPu I have no desire to defend my position against ad hominem attacks, I enjoy your channel and was hoping for a far better debate on this matter.
I'll end here by simply reinstating that any item is only worth what someone will pay for it, nothing more, nothing less.
See you next video.
Hope my 100% watch time gets you 1034% watch time 🤜🤛