Collecting 1oz coins as a beginner

[Quacker1964]

As per the title, does anyone collect coins for the sake of collecting, having, owning or admiring them as opposed to stacking cheap or investing to sell later?

At present I'm holding back my first purchase as would like some feedback as to any pro's and cons of doing this.  Yes I know it's what I want and what pleases me that counts, but essentially I'd like to purchase a loads of lower cost coins which might give me more of an idea what direction I want to go in the future.  Buy having as many coins, I can then decide what to specialise in be it Kooks, Pandas, animals, birds, etc.

Can I have too many coins or is it better to choose a few "types" and collect multiples of the same?  

I'm looking to purchase 48-64oz of coins in the place to make the postage worthwhile.  The plan being to see what I like and diversify as I go.  

[sixgun]

17 minutes ago, Quacker1964 said:

I'm looking to purchase 48-64oz of coins in the place to make the postage worthwhile.  The plan being to see what I like and diversify as I go.  

You could join in on the group purchase of coins from goldsilver.be and save a bit on postage.

Buy the coins you like. 

Don't get Canadian Mint coins unless they are old or spot price - there is too much milk spot associated with them. 

i would get the latest dog Lunar series from the Perth Mint and the rooster, while the prices are reasonable.

I would keep a look out for coins on the forum.  For example, there are a number of coins being sold here that you might like to think about.

 

[BackyardBullion]

@Quacker1964

If you are buying to collect then the only answer has to be do what you like, enjoy and can afford.

And if you want something special have a look at the 100g Silver forum bars...made by me 

If you wanted to start smaller than 50+ oz then get in touch about my group orders. Next one probably in October. Here is the details of the last one.

Where were you planning on buying from? Check out the European dealers because it will probably be ALOT cheaper than buying from a UK dealer. 

[Goldmick]

18 minutes ago, sixgun said:

You could join in on the group purchase of coins from goldsilver.be and save a bit on postage.

Buy the coins you like. 

Don't get Canadian Mint coins unless they are old or spot price - there is too much milk spot associated with them. 

i would get the latest dog Lunar series from the Perth Mint and the rooster, while the prices are reasonable.

I would keep a look out for coins on the forum.  For example, there are a number of coins being sold here that you might like to think about.

 

I did say I wanted to sell them all in one go but for a new member I would sell some separate 

[Goldmick]

The panda's and the Brits are nice coins to collect I think get different coins you will find one's that you like even look on you tube backyard bullion and others make some good vids if your thinking about a certain coin just put in you tube you can get a good idea on how it looks 

[Micky9776]

I'm not much of a stacker and more of a collector, it's a great hobbie and at the same time you are investing and hopefully when it's time to sell you will make some money, win win!

I only buy the coins I like, I started with one from each mint and bits and bobs from different series, I have now only decided to get each year the Perth mint Lunar 2 series, different designs each year, highly collectible, and good quality. I also get the Somali elephant, Chinese panda and a Canadian maple leaf, a lot of people don't like these as they spot but my first coin was a maple, so I had to get the complete date run. 

Also have a look at the Rwanda rooster and nautical ships series which look like great coins (on my to buy list lol)

That's just my way, everyone is different and prefer different things but hopefully I have gave you a few ideas  

[Martlet]

I reckon theres lots of collectors around, as a lot of stuff marketed at high price above spot and that wouldn't make sense if the main market was the stacker cult.   To get a better feel for coins have a look on youtube, particularly Backyard Bullion and Shadow Stack channels and those link by them.  Views, reasons to buy silver or budgets ( ) may differ, there's loads of nice silver to see and information about silver.  Coins look in the flesh/video than stock photos on a web page, new Santa Maria a good example, didn't think much from original pictures but looks great on video. 

[Quacker1964]

Thanks for replies and opinion.  As a new collector (at least to begin with). I have been watching the YouTube vids and will look to actively join in trading as a group when next advertised.  I mentioned elsewhere (the beginners section)  my first couple of trades would be in Euro and USD as I have pre-loaded currency cards which will be ideal for using before they expire.

there appears to be too much choice.  At first I thought sticking with 1oz coins would be the way to go, but I'd have to have at least a few 10oz, 5oz, 2oz and even 1/2oz - just for novelty value.  So my first purchase will be to get rid of my Euro, the second the Dollars then can start more disciplined collecting.  

 

[Thelonerangershorse]

My aim was just to stack, sticking with UK coins for the tax, problem is there are just so many shiny thing to buy.

Favourite so far has to be a 10oz kook which is beautiful, currently waiting for the 2oz BU unicorn.

[Cacc]

For stacking, I prefer bars as they take up less space and are easier to physically stack.

For coins, I am more of an old-school coin(/stamp) collector that wants to get every issue of every year in the best possible condition, and then upgrade to better conditions and fill holes as I go. If wanting to stack by collecting, keep in mind that there are only so many varieties a year. Just pulling a number out of a hat, I am going to say that there are only about 100 different silver 1oz coins that are worth stacking (non-proof that cost 4-5x their value in silver alone). If your goal is to stack about 100oz of silver a year, then this ends up being a good method and can keep you entertained. If you want just the 100oz then you can buy all of the same coin or round at once and save some time and money...but what fun is collecting without the hunt!

Also, as someone that still considers himself a beginner when it comes to stacking/collecting bullion, keep in mind that coins are all different sizes. So if for the purpose of collecting you want capsules (round or square), there are a few sizes you have to keep on hand for those that don't already come in capsules -- or if you are like me and like everything to be in the same style/outer dimension casing. You can spend quite a bit on storage when you add in all those kinds of accessories as well. For bars I have monster boxes, for rounds I have tubes, but for the coins that I collect I use the square quadrums and then those go into either encap pages or volterra cases depending on the coin.

Everyone has their own method and their own strategies, and this is just my way of doing things. If you don't dive in too fast, you can fine tune what works for you before you spend too much on anything just because it is shiny.

[Murph]

Your probably better to pick something you like and concentrate on them as, unless you have plenty of spare cash and are lucky, you'll never be able to get every coin or round.

When I first read your post I thought you were talking about coin collecting in the traditional sense so older coins rather than modern issues which most coin collectors stay away from.

[Gorseinonboy]

4 hours ago, Cacc said:

For stacking, I prefer bars as they take up less space and are easier to physically stack.

For coins, I am more of an old-school coin(/stamp) collector that wants to get every issue of every year in the best possible condition, and then upgrade to better conditions and fill holes as I go. If wanting to stack by collecting, keep in mind that there are only so many varieties a year. Just pulling a number out of a hat, I am going to say that there are only about 100 different silver 1oz coins that are worth stacking (non-proof that cost 4-5x their value in silver alone). If your goal is to stack about 100oz of silver a year, then this ends up being a good method and can keep you entertained. If you want just the 100oz then you can buy all of the same coin or round at once and save some time and money...but what fun is collecting without the hunt!

Also, as someone that still considers himself a beginner when it comes to stacking/collecting bullion, keep in mind that coins are all different sizes. So if for the purpose of collecting you want capsules (round or square), there are a few sizes you have to keep on hand for those that don't already come in capsules -- or if you are like me and like everything to be in the same style/outer dimension casing. You can spend quite a bit on storage when you add in all those kinds of accessories as well. For bars I have monster boxes, for rounds I have tubes, but for the coins that I collect I use the square quadrums and then those go into either encap pages or volterra cases depending on the coin.

Everyone has their own method and their own strategies, and this is just my way of doing things. If you don't dive in too fast, you can fine tune what works for you before you spend too much on anything just because it is shiny.

What a great approach. As a complete newcomer and novice,  I'm looking at the 'processes' involved in stacking or collecting as much as any other aspect of This wonderful hobby/obsession. Your posting 'Cacc', has drawn attention to the practicalities involved and , may I say, you have found some worthwhile solutions for yourself!  So, I'm trying to think through the very necessary but perhaps boring aspects, namely: storage, insurance, short term and long term aims, etc etc.....necessary even if a little pedantic.......

[Quacker1964]

12 hours ago, Cacc said:

For stacking, I prefer bars as they take up less space and are easier to physically stack.

For coins, I am more of an old-school coin(/stamp) collector that wants to get every issue of every year in the best possible condition, and then upgrade to better conditions and fill holes as I go. If wanting to stack by collecting, keep in mind that there are only so many varieties a year. Just pulling a number out of a hat, I am going to say that there are only about 100 different silver 1oz coins that are worth stacking (non-proof that cost 4-5x their value in silver alone). If your goal is to stack about 100oz of silver a year, then this ends up being a good method and can keep you entertained. If you want just the 100oz then you can buy all of the same coin or round at once and save some time and money...but what fun is collecting without the hunt!

Also, as someone that still considers himself a beginner when it comes to stacking/collecting bullion, keep in mind that coins are all different sizes. So if for the purpose of collecting you want capsules (round or square), there are a few sizes you have to keep on hand for those that don't already come in capsules -- or if you are like me and like everything to be in the same style/outer dimension casing. You can spend quite a bit on storage when you add in all those kinds of accessories as well. For bars I have monster boxes, for rounds I have tubes, but for the coins that I collect I use the square quadrums and then those go into either encap pages or volterra cases depending on the coin.

Everyone has their own method and their own strategies, and this is just my way of doing things. If you don't dive in too fast, you can fine tune what works for you before you spend too much on anything just because it is shiny.

Many thanks for a very full and frank reply.   The last point made about shiny things is if I'm honest the main attraction!  

Ive more or less decided on a first strategy to purchase around 50 coins to see which I prefer and get the collection started.

pandas, kooks, animals and lunars see to be my initial favourites from an aesthetic point of view.  I'm sure trial and error will play a part which I accept.  so long as there's no glaring expensive errors!  

I'll hold back on my order a while as a few aren't yet available.  More chance to ask around, pick brains and view "the tube" 

many thanks again for all suggestions.

[kimchi]

Do folk think the Lunar Roosters still have 'promise' at the £22.21 I'm looking at on STG (I have no idea about these coins but the base stack is secure so looking to diversify a bit - also the half Ozs come in cheaper at £9.63), and/or the Dogs at £20.80?