People have been collecting old United States Coins since the nation’s founding. It is one of the most popular hobbies out there, and it is one of the few hobbies that will pay you back for your time and investment. By taking your time to learn about old United States Coins, you will be able to make wise decisions and buy coins that will appreciate in value over time.
The first thing you want to do when collecting old United States coins is to decide what type of collection you want to build. Some people specialize in completing 1 series of coins, like a complete set of Walking Liberty Half Dollars or Mercury Dimes. These are two popular designs with wonderful details that collectors have loved for years. The tough part of completing a series is finding the key dates which are the rare and very expensive dates in any series of coins.
You could also put together a type coin set, where you collect 1 of each type coin from each series. For example 1 of each type of penny, nickel, or dime. Another type set would be a set of 20th Century Coins. You could collect 1 of each type of coin minted between 1900 and 1999. Type sets are easier to complete because you do not have to target the key dates, which are harder to find and expensive.
No mater what old United States coins you intend to collect, you will need to learn all you can about the hobby and the coins in particular. This is a hobby that is full of traps for the uninformed. By becoming educated about your hobby, you can avoid these traps such as overpaying for your coins.
Every collector should own a copy of the Guide Book Of United States Coins, or Red Book. A new edition of this book is printed each year, and it is the Bible of US coin collecting. Some people even collect the books, and it is fun to look through copies of the Red Book from throughout its history, to see how the coins have appreciated (or dropped) through the years.
New collectors should also buy a copy of the Photograde book. This book will show you how to grade coins. This is a skill you will want to have because a coin’s condition has an impact on its price. By learning to accurately grade a coin before you buy it, you will make solid purchases that will increase in value. It will also help you avoid overpaying for your coins. This is important because most coins you see will be graded higher than they really are. You will be able to spot bargains and avoid overpaying.
A loupe or other magnifying glass will help you look closely at coins and grade them accurately. Seeing the fine detail on the coins will help you grade and decide what to pay for your coins.