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I recently began collecting old coins and don't really have a clue what to look for other than old coins but it keeps me entertained. Ive got some "war pennies" that are silver looking instead of copper which are pretty cool, and I have all the new state park quarters so far.
what should i look to find in the future or are there any new mints that are worth collecting?
Hockey, when one starts collecting (anything) it's probably a good idea to collect every type of it until one learns more about the things they're collecting. Re: coins, I'd suggest collect one of everything until you figure out what appeals to you most.
For me, I like to collect every denomination of coin (and paper currency) avail. in the country I'm visiting. These get made into a framed display along with my transport tickets, maps, etc.
I also collect, in bulk, U.S. coins dated before I was born; with a preference for pre-WWII coins. I display the most "like new" (closest to 'uncirculated') of each denomination & year.
Some people like the challenge of collecting specific years, designs, or coins from a specific mint (manufacturing facility).
Buy what appeals to you. However, to avoid new issues from unknown countries; they're always overpriced at issue and the value goes down. Buy the best condition you find or can afford; a high condition coin will appreciate much faster than a low condition coin. Condition is far more important than rarity.
Read "Coin World"; the most important thing now is to learn. Don't worry; it's fascinating. If there's a coin club in your area join it; if there are coin shows attend them. Right now you need to see and examine as many coins as possible. Don't be afraid to buy books. Savvy collectors always say to buy the book before the coin.
Keep in mind that many pre 1964 silver coins (those war wheat stalks are steel, not silver) are now selling for more as their value in silver than their value as an old coin, be very careful and aware of the market pricing and history if you buy or sell anything with silver in it.
Yes, like most collectables, if you buy coins, buy the best condition that you can find....everyone else is looking for the same thing and the best coin will retain it's value much better than any lesser grade. Don't be like all those people who tried to get rich by hoarding Beanie Babies or lining up at Toys R Us at 5 am to fight over Hot Wheels, just find what you like and have fun collecting. Do it for the enjoyment first, and potential profit later or never.
My kids have been going through their changefor the last 15+ years. They have an updated list of rare/high value circulated coin. They have found a few over the years that are worth several hundred each. Mostly just pre 64 junk silver though.
Yea I mostly just like collecting money in general, I know there not really worth anything more than $2 but my sister works in a bank so every once in a while I'll give her $100 bucks and get 50 two dollar bills.
I have hundreds of wheat pennies but there all only worth a few cents each and some old silver dollars
What i do now is just keep all my change, go through it, if its rare i put it in my safe and if not it goes into a big water jug
Just bought my first ounce of silver today. Paid $22 for it as that's what silver was trading at today. Planning on buying one or two each time I get paid. Just another investment vehicle I'm adding to my portfolio besides the good ole' 401K I have.
I watch coin vault and DSTV once in awhile to see if I want to get involved in coin collecting. But it seems to me that the 'premium' to pay is too high both for graded and ungraded coins. Silver and gold value would have to increase substantially just to break even.
Just bought my first ounce of silver today. Paid $22 for it as that's what silver was trading at today. Planning on buying one or two each time I get paid. Just another investment vehicle I'm adding to my portfolio besides the good ole' 401K I have.
I recently began collecting old coins and don't really have a clue what to look for other than old coins but it keeps me entertained. Ive got some "war pennies" that are silver looking instead of copper which are pretty cool, and I have all the new state park quarters so far.
what should i look to find in the future or are there any new mints that are worth collecting?
I collect coins myself, but I am no expert. With older coins the most important thing is condition, a coin in good condition is worth (much) more than those is worse condition. But with older very expensive coins that you really like, you can buy one in fair condition (and save a huge amount of money.)
I would assume most "new" coins will not increase much in value, but that does not stop me from collecting our new dollar coins, or any other new coin that I like.
I like to collect old American coins, and also ancient coins. I like the older American coins because many of them are real silver, and the metal itself has value. I have European coins from the 3rd and 6th century bc, and others listed at 1500-1600 years old. And I have coins from India and Asia from around 200 bc (and these ancient coins are not as expensive as you would think.)
There are coin shows that come into town every once in a while, and its cool to dig through all the coins sellers have, and you can actually get some good deals there. Ebay is also a good place to buy coins, I bought some of my ancient coins there, and also got a (great) ebay deal on a 1851 one cent coin (its the size of a 1/2 dollar), and I got a (awesome) ebay deal on a 1865 2 cent piece.
A good thing about coin collecting is the coins keep/increase their value, and you could always resell them.
And when you are at the bank ask for dollar and half dollar coins. I have gotten many 1/2 dollar and dollar coins from the bank (that are worth more than their face value.) Also never clean a coin because you will destroy its value.
This thread made me take out my coin collection, and I was gonna talk about my favorite coins, but I guess I'm not gonna ramble.
Chad.
Last edited by chad3; 02-13-2014 at 11:38 PM..
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Ive got some "war pennies" that are silver looking instead of copper which are pretty cool, and I have all the new state park quarters so far.
