At publication, By meeting with hundreds of people each year, Atlanta Gold & Coin had opportunities to examine many different coin collections containing a wide range of pieces. Those reviews often made it clear which collectors had experience and solid guidance, and which may have entered numismatics without first researching it. This article was intended both to give beginning collectors practical direction about how to approach coin collecting, including what to pass by, and to help people selling collections recognize coins that could have value apart from coins worth roughly face value. It specifically outlined four categories of coins and sets that new collectors were advised to avoid.
Hand Assembled Sets
The original article noted that hand-assembled themed coin sets were commonly sold for far more than the combined value of their individual coins, and generally merited caution. They were frequently presented in rigid acrylic holders or attractive display cases, often with accompanying documents and perhaps a certificate of authenticity. At the time of publication, Atlanta Gold & Coin typically bought the coins for their individual value, separated the sets, and organized the pieces by type. Although these sets could be especially appealing to people interested in history, the article suggested resisting that appeal and building a themed set independently when a particular subject was of interest.
U.S. Mint Rolls
Each year, the U.S. Mint produced collector-oriented coin rolls that, according to the original article, seldom increased in value. At the time of publication, coin dealers typically bought them directly from the mint and sold them at a considerable premium above face value. Some rolls, including those containing precious metals, could have appreciation potential; however, modern copper, nickel, and zinc issues rarely proved to be worthwhile investments. The article did not suggest giving up hope. Instead, it recommended researching mintage totals to see whether scarcity might create an opportunity for appreciation.
Coins Advertised on T.V. or in Magazines
Businesses spend billions of dollars on advertising each year, and the coin field was no exception. Skilled marketers understand how to move products, and coin dealers often used them to sell items at substantial premiums. Based on Atlanta Gold & Coin’s experience when this article was published, coins promoted in general-interest magazines, except coin trade magazines, and coins sold on television outside dedicated coin programs were best approached cautiously. They were often marketed through those outlets because local interest was limited or inventory was excessive. In either case, the original article said they were nearly always offered well above market value. At publication, readers were invited to note coins of interest and contact a local coin dealer to compare prices.
Privately Minted Sets
Hundreds of privately minted sets were produced every year, with quality and value varying widely. The original article described it as disappointing to encounter collections containing many privately minted sets with little or no value. For this discussion, hand-assembled sets meant sets of U.S.-minted coins, while privately minted sets meant rounds and bars made by privately owned companies. The article’s view was that privately minted sets worth considering were those made of precious metals. It further suggested focusing on silver, since such pieces should rise with the silver price and therefore offered possible upside. Rounds and bars made from other metals were best avoided unless they were purchased strictly for collecting, without concern for their value or potential appreciation.
Summary
To conclude, the original article identified four kinds of coins and sets that often appealed to beginning collectors but ultimately had little or no upside potential. Purchasing them solely as collectibles rather than as investments was presented as entirely acceptable. Still, the article observed that most people were drawn to numismatics for both its collectible qualities and the possibility that coins might increase in value. At the time of publication, readers were advised to research before a first purchase, whether online or by speaking with a knowledgeable local coin dealer. That historical guidance was intended to help newcomers begin on firmer footing and avoid many mistakes commonly made when first entering the field of numismatics.
