Have coins? Will collect!
Old coins that is. Try looking under that old dresser, or up the attic where grandma or grandpa’s things may be stashed away patiently waiting for you to discover them. Who knows, you might find a coin there, an old coin that – at today’s rate – may be worth a few dollars; probably three or four or five, even ten times what the coin was worth back then.
A penny a day, is worth okay
Fortunately or unfortunately, there was a shortage of copper during the year 1943 and all pennies made at that time were minted using steel. There were however, some Lincoln pennies that were incorrectly minted on bronze that turned out to be blanks. A few years – or decades later -these bronze pennies became a rarity and are valuable. The steel ones though, because of their commonality, are worth only between one to three dollars each.
Be aware and be wary as there are schemes where gullible coin collectors are sold coins that are copper plated in an attempt to make these pennies appear to be bronze. Also, keep your guard up anytime someone offers you a circa 1943 penny made out of a metallic white alloy.
Old coins are good coins
Coins, specifically the silver dollars made and circulated between the years 1878 and 1935, are worth between twelve dollars and twenty five dollars for the circulated coins. The coins that were not in circulation are worth considerably more.
Meantime, those quarters, dimes, or half dollar coins made and circulated prior to 1965, are usually made out of ninety percent silver and therefore worth as much as today’s silver (with an additional premium, albeit small, put on the coin’s face value).
Wrong pennies are right
There is a Lincoln penny issued in 1972 on which the date and the letters on it appear to have been doubled. This rare coin is currently worth about sixty dollars, assuming the pennies are in standard condition. The Philadelphia Mint during that time period accidentally misaligned the die used in minting the coins causing the portrait of Lincoln to look like it was doubled. Fortunately or unfortunately, eighty thousand of these were circulated before the error was discovered.
In summary, coin collecting is similar to collecting bits of history and trivia from the past. In addition to the face value its worth as a treasure – pennies, dimes and coins – often are worth more in the long run.
If you are a coin collector, how do you categorize yourself?
There are various ways to collect coins as well as the specialties of collectors. Here is how to differentiate the variety of coin collectors.
The Casual Coin Collector: The Most Common One
You will know that you are a coin collector if…
– you collect coins no matter what your age
– you collect coins randomly just for the fun of it
– you do not pay much money for the preservation and purchase of coins
– you will collect some coins that are already obsolete, those that have been modified and are used my magicians, commemorative coins, those with errors, or those that are out of circulation
– your collection is made more interesting because of the coins given to you as gifts
The Curious Collector: The Second Level
You will be able to recognize yourself as a curious collector if…
– you are more interested in coin collecting than simply collecting them because you received them as gifts
– you don’t mind buying coins, especially if they are inexpensive
– you are more interested in browsing coin shops than a casual collector
– you spend time surfing the net looking at coins sold on eBay or other coin sites
– you collect coins without a clear-cut objective
– you are inclined to increase your knowledge of coins and might soon contemplate becoming an advanced coin collector as you establish contact with more serious collectors who might inspire you
The Advanced Collector: The Extreme Collector
You can categorize yourself as an advanced collector if…
– you find yourself smitten by the “Hobby of Kings”
– you are either a “generalist” (a collector who wants to obtain a wide variety of coins) if you can to obtain an amazing collection you’re your available resource; a “completist” (a collector who wants to collect a complete set of a specific type)
– you lack resources and will opt for a smaller number of coins to complete a set, if you are a “completist”
– as a “completist”, you prefer collecting coins from a certain historic period, nation, or you prefer collecting tokens or coins with errors.
No matter what level of coin collecting specialty you choose, it is your choice. What is important is that you find it rewarding and fulfilling.
So, have you found your category yet?