The Bottom Line
I consider this book to be so important to all coin collectors, that it is tied with the Red Book as my number one choice for a coin collecting book. Author Scott Travers provides a fascinating insight into the coin dealing business, and puts the consumer on an even playing field with the savvy cut-throat coin dealers out there. Whether you collect coins for the love of the hobby, or with the hopes of making a good investment, Travers will teach you what to buy, NOT buy, and why. If you just need information to sell off a collection, buy the Red Book. But if you want to collect coins yourself, buy this book, too!
Pros
- The author is a coin market insider who fearlessly spills the secrets of the coin dealing business
- The book covers everything from grading service manipulation to tax considerations for collectors
- Billed as "the ultimate consumer protection resource" for coin collectors, this book delivers!
- Learn to detect counterfeits, how to "cash in at coin shows," and how to avoid being scammed
- This book will open the eyes of newbies, and startle the "experts" who thought they knew it all
Cons
- Although generously illustrated, some of the photos are low quality b&w that don't show the details
Description
- Chapter 4 covers the grading of U.S. coins, including detecting doctored coins and grading difficult types.
- Chapter 5 explores the third party grading business (e.g. PCGS, NGC) and how to avoid problems and counterfeit slabs.
- Chapter 8 is titled, "Making Money in Coins Right Now," and tells how coin dealers keep the cash flow moving.
- Chapter 11 covers the secrets of "cherrypicking," which is finding the overlooked varieties and errors on coins.
- Chapter 12 exposes the "Insider Trading" of rare coins between dealers and tells how to break into the inner circle.
- Chapter 13 is titled, "Dangers of Buying Coins on the Internet and in the Mail" and tells you how to avoid getting taken.
- Chapter 14, "Cashing in at Coin Shows," covers a variety of coin show related subjects including "how to complain."
- Chapter 15 is a primer on selling your coins for the absolute maximum amount of money possible.
- Chapter 16 is called, "Don't Let Uncle Sam Pick Your Pocket," and deals with tax issues and investing in coins.
- Chapter 18 covers coin cleaning, preservation, storage, and the conservation of damaged coins.
Guide Review - Coin Collector's Survival Manual by Scott A. Travers
The Coin Collector's Survival Manual, written by Scott A. Travers, (5th Ed., 360 pages, ISBN 9-780375-72127-4) is one of the best how-to guides for the coin collector I have ever seen. Travers is fearless in revealing the behind-the-scenes realities of the coin dealing profession. For example, he tells you how to win at the "crack out game" (where dealers remove coins from the grading service holders to resubmit them for a higher grade.) He shares the secret to removing copper spots from gold coins, a technique he says a leading dealer offered $10,000 to learn! In a chapter called, "Myths That Can Cost Millions," Travers refutes the conventional wisdom of six "facts" that coin dealers love for you to believe.
The book is generously illustrated with black and white photographs, plus there is a 16-page section in the middle of the book that has beautiful full-color photos on high-quality paper. Many of the photos in the book are micro-photographs, showing the details of die varieties, or such points as the difference between a 5-Step Jefferson and a Full-Step Jefferson Nickel (although many grading services call 5-Step coins "Full Steps" now.) Some of the most interesting photos are in the section on altered and counterfeit coins.
Travers includes a number of charts and lists in the Manual, including one that shows the value of the actual silver in most U.S. and Canadian coins at various silver spot prices. Another chart recommends the best coins to "crack out" and resubmit to grading services in the hopes of profiting from the higher grade. Although the charts and lists are great, the value of this book is mostly in the text: in the insider's secrets to buying and selling coins in today's cut-throat numismatic marketplace.
The book is generously illustrated with black and white photographs, plus there is a 16-page section in the middle of the book that has beautiful full-color photos on high-quality paper. Many of the photos in the book are micro-photographs, showing the details of die varieties, or such points as the difference between a 5-Step Jefferson and a Full-Step Jefferson Nickel (although many grading services call 5-Step coins "Full Steps" now.) Some of the most interesting photos are in the section on altered and counterfeit coins.
Travers includes a number of charts and lists in the Manual, including one that shows the value of the actual silver in most U.S. and Canadian coins at various silver spot prices. Another chart recommends the best coins to "crack out" and resubmit to grading services in the hopes of profiting from the higher grade. Although the charts and lists are great, the value of this book is mostly in the text: in the insider's secrets to buying and selling coins in today's cut-throat numismatic marketplace.
