After going through seven editions, The Coin Collector's Survival Manual needs to be completely reorganized, revised and updated. This book definitely has the potential to be a great book on coin collecting and investing again; but, it is showing it's age and portions are becoming obsolete and irrelevant. I'm not saying this isn't a worthwhile book on coins; but, where was the editor?
My disappointment with the seventh edition is simply that it is not an easy or fun read that encourages the reader to be an enthusiastic coin collector/investor. Page 306 states "As of this writing in August 2010...." and yet, ten pages earlier, there is the statement on page 296, "At this writing eighteen years later,...." referring to 1987 implying the book was written in 2005! Page 296 also lists an completely out of date comparison of 1999 and 2004 modern coin values as coin values have been significantly affected by the recent rise in bullion prices in the last few years.
There is a table in this book listing coins that are crack-out candidates in 2005. Those crack-out possibilities are probably long gone by now. The chapter about changing strategies for investing in makes reference to coins owned in 1989 and then compares them to 2005 prices. New readers of the seventh edition were probably not buying coins twenty years ago and this is 2011, not 2005. Stories of crooked dealers from the 1980's and the heavy references to crack-outs may be interesting from a historical perspective; but, are they really relevant when we have come to rely on certified grading over the last twenty years? The latest version of this book has a good discussion of the PCGS Plus grades. Since the grading service label inserts have evolved over the years, it would be helpful to see photos of the different insert labels and learn the dates they were in use.
The book has worthwhile information for the person looking to sell their coins. I like to buy coins and this book just simply has lost it's gusto.
As someone new to coin collecting I found this book very helpful.Everything in this book is new to me.I think this book really helped me in making a couple very good coin purchases.If it weren't for this book I would've just bought the first coin,from the first dealer I saw.
In all endeavors there are certain things you need to know to succeed. This book combines into a single volume most of the basics any collector or investor needs to know about the rare coin industry. For true numismatic study you will need other books in your area of interest. For some real world "need to know" information about the way the industry works, you need to read this book.
Just as the title says: If you are looking to be informed and educated on various aspects of collecting, this book is for you. Everything from collecting, investing, to etiquette at coin shows. There is something in here for every collector.
I personally like the addition of the precious metal value charts in the back of the book along with the fairly easy to understand equation provided in one of the chapters explaining (POM) Price Over Market. This comes in handy especially when purchasing gold for the bullion value. That and the book as a whole have truly helped me to become a better collector.
This book is a must have for EVERY coin collector from the novice to the professional. In coin collecting, knowledge is power and lack of knowledge will cost you time and money. This book strives to minimize losses and maximize gains. Not every coin transaction will allow opportunity to apply the principles found inside, but if you ignore them, the gains will be smaller and come slower than if you keep some simple things in mind. Egos can sometime get in the way as well. I have been laughed at by coin dealers for reading this book (and others)and in the last 4 months I have made over 4500.00 just making smart buys and selling appropriately. If I went back and shared this information with those dealers I am sure they would not be laughing. I have not been through the book for seven editions but I have read it cover to cover and will read it a second time for sure.
I'm just going to make this short....this is the book that got me back into numismatics 20 + years ago. I took a 9 year break from rare coins from 1984 - 1993. I have purchased every addition of Scott Travers Manual and I believe all of his books, now that I think about it. If you're thinking about collecting/investing in rare coins, you can't go wrong with this book and author. This will help you get your homework started.
Let me inject just one negative about the book....it does need to be updated a little. It's easy to read between the lines for someone who has been around rare coins for years though. The cracking out of certified coins chapter is already 9 years old and many of those coins have probably plateaued. Hopefully todays MS 65's aren't MS 68's in 2014. There are some other issues Scott needs to address.....he knows what they are. I'm sure it's a cost factor when it comes to editing.
This book touches on just about every aspect of coin investing that I can think of, from negotiating with coin dealers to the tax implications of coin investing/collecting. In between, the author gives the reader glimpses into how to detect doctored and counterfeit coins, tips for enjoying coin shows, and interviews (very candid ones) with coin "big wigs" like the head of PCGS.
The author is not at all shy about naming names of less than satisfactory coin related services (i.e. scammers or services that are simply not up to par at this point) and recommends lots of good resources and publications.
I would recommend this book to anyone who is interested in collecting coins.
This is a comprehensive book about coins: collecting, buying,selling and investing. If you are anything short of an experienced dealer in coins and bullion you will learn something - or even a lot - from the book. It is current and the author discusses such issues as buying and selling coins on eBay and other auction sites on the web. There is also a lengthy discussion of coins shows. And for the novice, there is detailed information on grading coins and the details to watch for on specific coins, such as the Winged Liberty Head or "Mercury" dime.
I highly recommend this book if you are at all interested in collecting or investing in coins and/or bullion.