The Beginner’s Guide to Building and Profiting from Rare Coin Collections: Lessons from ‘Pleasure & Profit’

Just starting with rare coins? This beginner’s guide will help you build a collection that actually grows in value.

I’ll never forget the dusty copy of Shippee’s Pleasure & Profit I found at a coin show years ago. As a new collector, it completely changed my game. Robert Shippee documented his real journey – from buying his first rare coins to selling the entire collection profitably. Let me show you how his 1990s playbook still works perfectly today for building rare coin collections as a beginner.

Why beginners need this book

Most coin guides overwhelm you with technical details. What makes Pleasure & Profit different? Shippee walks you through his actual purchases and sales – mistakes included. You get:

• Real transaction records: What he paid, when he sold, and profit/loss for each coin
• Beginner-friendly grading: How to buy certified coins without getting overwhelmed
• Profit planning: Simple ways to collect with future sales in mind

Your first coins: Where to start

The golden rule for new collectors

Shippee’s advice saved me from costly mistakes early on: Always buy graded coins. Why? Because that plastic holder (we call them “slabs”) means experts have verified your coin’s authenticity and condition.

“Your first ten coins should all come in PCGS or NGC holders – consider it your training wheels.”

The $500 starter strategy

For your first purchases, target coins between $300-$700. These three types are perfect for new rare coin collectors:

• Morgan Silver Dollars (look for 1880-1904 dates in MS63 grade)
• Buffalo Nickels with clear dates (1913-1938)
• Barber Half Dollars (1892-1915) in AU condition

I started with these exact coins – they’re affordable enough to learn with but still valuable enough to appreciate.

Building value: 4 simple pillars

1. Smart buying at auctions

Here’s the trick Shippee taught me: Always calculate your max bid before the auction starts. For example:


Coin's retail price: $1,200
Target price (65% of retail): $780
Your maximum bid: Never above $780


This simple math keeps me from overpaying when auction fever hits!

2. The magic of patience

Shippee’s coins grew about 8% yearly just by sitting in his safe. For beginners, remember:

• Hold modern coins at least 5 years
• Keep 19th century coins 10+ years

My first Morgan dollar bought in 2015 has nearly doubled in value – without me lifting a finger!

3 myths that trip up beginners

Myth: “The older the coin, the more valuable”

Surprise! Shippee owned 1700s coins worth less than $100. Condition and rarity matter more than age. My first “ancient” coin was a worn 1793 cent – worth less than my 1921 Morgan dollar.

Myth: “I don’t need grading services”

Ungraded coins in Shippee’s collection sold for 20-30% less. Grading isn’t just for experts – it’s your quality guarantee when selling later.

Selling your coins for profit

When to cash in

Watch for these signs of a hot coin market (like right now!):

• Record prices in auction results
• Coin collecting featured in mainstream news
• New collectors joining online forums

Auctions vs private sales

Shippee made 18% more at auction – but remember:

• Buyer premiums add 15-20% to your costs
• Good photos make or break auction lots
• Always insure your shipments

Finding your copy of Pleasure & Profit

Since this gem isn’t on Amazon, try these proven methods:

• eBay alerts: Create a saved search for “Shippee coin book”
• Bookfinder.com: Checks dozens of used book sites at once
• Coin community connections: Ask in Facebook collector groups

Your collecting journey starts now

Shippee’s lessons helped me turn lunch money into a real collection. In five years, you could:

• Own coins that actually increase in value
• Confidently buy at auctions and shows
• Sell pieces strategically to fund better coins

Though my copy’s now dog-eared and coffee-stained, I still use Shippee’s strategies weekly. His approach remains the best beginner’s guide to profiting from rare coins – whether you find his book for $20 or $200, it’s worth every penny.

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