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Collecting Old Coins: A Good Investment And Fun Too!

by Daniel Wright

Ok, so you want to start collecting old US coins but just aren't exactly sure how to start. This article is here to help guide you in the right direction. There are a variety of factors you can base your collection upon and it all really just comes down to you own personal peference. Are you the silver, bronze, or gold type of person? How old do you like your coins to be? In what period? Here's some things to consider as you ponder these questions:

Period of time or era.

The collector of old US coins whose main focus is on investment will surely want coins from the turn of the last century or older. In fact, the older the better. There are coins -- for example silver dollars from the Carson City mint, coins from the days of the US Revolution, and coins from other interesting eras in US history -- which are both old and unusual.

Kind of Metal

Unless money is absolutely no object at all, the neophyte coin collector should probably steer clear of gold coins and silver coins as these can be prohibitively expensive. It's best to focus coins made of less precious metals such as nickel and copper.

Details & Grading

Any beginner to coin collecting soon discovers that the details apparent on the coin are everything in this hobby. The more details you can make out, the higher the grade. The higher the grade, the more rare and valuable the coin becomes. Get yourself a good grading reference book with photos so you can compare your coins with the grades shown in the book. In time, you'll start being able to grade by eye without needing to refer to your grading reference book. You have seen an ordinary coin, its features wouldn't be different from the old one because typically, new coins are just patterned from old coins. Some factors in copin grading may include: are the feathers or robe folds completely worn away or partially visible or very distinct? Are all the letters of the motto perfectly legible or perhaps you can only make out a couple or, worse, none at all?

Fashioning

Although coins should not be cleaned, there is a process called toning which may increase the value of a coin. This is especially true of silver coins. One reason for this is that it can make it easier to see detail on the coin. The bottom line is if toning enhances the look of the coin, it is a good thing.

Scratches, Bag Marks & Cleaning

If you have seen "bargain coins" for sale, it might be because they have been heavily circulated and the rare market has already rejected them. You will notice certain kinds of scratches and perhaps even scarring that is caused by chemicals. Scratches can be acceptable, but scarring is a definite no-no. Chemical scarring can be related to corrosion, pits, etc. Also, some coins that would be otherwise beautiful have been defaced by ugly "bag marks". These indentations in the coin's surface are caused by contact with other coins in the bags gthey are shipped in from the mint and to the banks for distribution. As much as possible, make your coins are spotless and free of any detracting bag marks.

These tips will get you well on your way to building a high-quality coin collection that will continue to appreciate in value through your lifetime. And that's another plus--this is a hobby that you can carry with you al your life! If you need to sell them in your later years, they can bring a nice sum. If you are able, leave them as an inheritance for your family members. The coins will become a family heirloom for which you will always be remembered.

Learn more about old coins at the net's premiere rare coin site, US-Rare-Coins.net. If you're interest is old US coins and CC coins, we have it all including a video section showcasing lots of old coins!

Published November 10th, 2008

Filed in Hobby

 
 
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