What a Beginning Collector Can Look For When Starting a Coin Collection.
Uncategorized No Comments »The introduction of the internet has completely turned around the way people find things to collect. It is surprising to many novice collectors how many expensive and rare coins are still in loose circulation.
Lincoln wheat cents are an inexpensive but interesting way to get started. These one cent coins were produced between 1909 and 1958 following the successful run of the preceding Indian Head Cent. They are named for the design; a pair of wheat stalks on the back of the coin, with a portrait of Lincoln on the front.
One especially interesting wrinkle is the steel/zinc penny from WWII. Because of a copper shortage during the war, the U.S. Mint produced pennies made from steel, then coated with zinc to prevent any rusting. Minted in 1943, they are old enough to be valuable due to age, but have the added rarity of a different alloy. You will be able to tell the difference easily by their light bluish-gray tint and the distinctive sound they make when struck.
On examination of Lincoln wheat pennies, a lot of the them will have the initials of VDB on them, for the designer Victor David Brenner. The ones which were minted at locations other than Philadelphia are more valuable; most were minted there, as Philadelphia had the largest mint at the time. These pennies can be worth as much as $700 in today’s market, that’s not bad for a single penny! Many are worth $15, which is still a very nice profit for a penny.
You can look for pennies, silver dimes, quarters and dollars in perfectly ordinary places. These coins tend to travel from bank to bank without anyone noticing, due to coin countering machines being used. If you look more carefully at your change you have the opportunity to come across something you didn’t expect.
It only takes a second to casually examine a coin. If you’ve done your homework in advance, you’ll be on the lookout for pre-1964 dimes, VDB pennies and the new state quarters. Eisenhower silver dollars can also be found.
The series of state quarters began production in 1999 and five new quarters are introduced each year. A new quarter comes out about every 10 weeks, with the program projected to end in 2009. The state quarters each have a unique design representative of a specific state.
The state quarters created in previous years of the program are no longer being produced, so they are sure to increase in value over time. The average coin circulates for about 30 years; many of these quarters are already selling for more than $2. If you start a coin collection now you will find they are very valuable in time.
Coin collecting is a hobby which involves long term planning. Your collection will grow more valuable with time; even a common coin from today could become a valuable collectible later in its life.










