Most veteran numismatists won’t hesitate to help new collectors learn about our hobby and I’m no exception. I frequent a lot of coin discussion boards on the Internet and have witnessed the struggles and frustrations of the so-called “newbies” as they begin their journeys into this complex and intimidating past time.
From my observations, one of the biggest hurdles that a lot of new collectors face is that age old narcissistic dilemma of “How do I make myself look like an expert when I’m new to the hobby?”
If social media has fostered anything, it is the extreme importance for many of having high self-esteem and receiving overwhelming approval (i.e., likes) from the folks they see as peers, even if they may be completely unworthy of such accolades.
Well, I’m here to help, because I’ve witnessed some newbies rise to the occasion and prove their worth on the world stage just by mastering a few key phrases that make them look like wise rulers within this vast Hobby of Kings.
If you’re a new collector and you are jealous or intimidated by the knowledge garnered from decades of study by seasoned numismatists, just keep the following list of observations handy and use them in your responses to questions and comments on any coin forum.
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If you see a thread where a forum member uses the word “penny” to describe a U.S. coin, ignore whatever the actual subject matter of the posting is and quickly correct the poster by pointing out that the proper term for such a coin is “cent.” You can even elaborate that the term “penny” should only be used to describe British coins, even though the U.S. Mint often uses the vernacular “penny” in its product descriptions.
- Similarly, if you see a posting about Buffalo Nickels or Mercury Dimes, do not hesitate to insist that the image on the nickel is a bison and that the subject on the dime is not a Roman God. Even though these particular coins have been referred to as Buffalo Nickels and Mercury Dimes ever since they’ve been in circulation, that doesn’t make it technically right and you need to steadfastly emphasize that conclusion.
- Moving onto quarters, when the United States entered World War I in 1917, the U.S. Mint covered the chest on the Standing Liberty Quarter with chain mail, indicating that this country was ready for battle. But don’t let this obvious politically motivated design change prohibit you from claiming that it was done solely out of moral outrage by the public over the bare breast seen on the 1916 version of the quarter. Even though nudity has been depicted on coins and medals for centuries, the debunked story of the bare breast controversy is much sexier than the boring WWI explanation.
- One of the first things a new collector will hear or see in print is “Do Not Clean Your Coins.” It is your solemn duty as an expert to expound this critical knowledge no matter what the circumstance or situation may be. If someone implies in a posting that they may run a coin under a water faucet because they dug it out of the ground, you need to reply immediately with a strongly worded chastisement reminding the person to NEVER EVER clean a coin. Even though some Third-Party Grading services will professionally “conserve” unsightly or dingy-looking coins for a price, you still need to stick to your proverbial guns and shoot down anyone else’s attempt to clean a coin.
- Speaking of Third-Party Grading (TPG) services, you no doubt have seen the sales premiums recorded for coins with certified grades encapsulated in plastic slabs. Although you very likely have never attempted to send one of your coins to a TPG, that should not stop you from recommending that others submit their coins to be professionally graded. If someone posts an image of a nice-looking modern coin online and requests comments on its condition or eye appeal, it behooves you to explain to the poster that it’s not possible to offer an informed opinion of the grade based on the photograph and you must advise that the coin be sent in for professional grading (even if the cost of the grading service far surpasses the value of the coin).
- Now let’s say you read a posting where a collector provides an image of a slabbed coin and excitedly explains that it was the final piece needed to complete his/her collection. Chances are the coin is very valuable and rare, since it had eluded the collector for so long. Consequently, you need to find fault with the coin, since it is likely not a high grade - or may even be damaged in some way. Although you may never be able to acquire such a coin, it is important for you to encourage your fellow collectors to strive for excellence in their collecting goals.
- Sometimes a collector will post an odd-looking or potentially rare coin and ask if other forum members believe it to be authentic. In this case, it is especially important for you to ignore the responses from other members and respond unequivocally that the coin is most definitely a fake. Also, memorize the letters “PMD” (it doesn’t matter what the acronym stands for) and use them to respond to any post inquiring about a potential error coin. Remember: Nothing expresses your expertise more in the collecting arena than telling another collector that their potentially valuable coin is actually worthless.
- There are many avenues for collectors to locate coins for their collections, including coin shows, coin clubs, coin shops and the Internet. Of course, no source is perfect in all circumstances, so it is important for you to point out any obvious faults and provide caution whenever possible. Remind your fellow collectors that most dealers will rip them off, that most collectors only have junk to trade, and that the Internet is full of scammers. Also, be sure to use derogatory terms like “feebay” and “regretsy” when referring to eBay or Etsy online marketplaces.
- Although you may have never read a coin book or periodical in your life, that shouldn’t stop you from frequently using the old adage, “Buy the book before you buy the coin,” especially when you want to mentor a young collector. If anyone responds by asking you to recommend a specific book, simply say the Red Book.
- And remind others that the hobby is intended to be fun and that there’s no need to get offended by satire.
