Collecting Coins

By pjain      Published Nov. 21, 2019, 9:16 p.m. in blog Invest   

Alert to coin collecting - Keys and BPR 4US

Collect really old coins, worry about it later! Anything <1965 - dump rest!

It is too hard to find really valuable/uncirculated coins.

Gather UNSORTED coins in your coin jar - don't mix with sorted ones!

If you keep your pocket change in a huge coin jar, you can have fun sorting them occasionally. Once sorted, just put them in the toll or parking meter in your car!

It is possible that out of hundreds of pocket change you just may have found some neat coins!

Bank rolls $10 for 40 Quarters, dimes - etc - peenies too much pain

Collecting Coins 101

The hobby of Collecting Coins - amateur levels

All in all any hobby is a good one as long as it keeps you motivated and makes you excited and keeps you SANE.

A coin collection (even with precious metal coins) is NOT an investment strategy. Coins will yield no short or medium term revenue.

How much to "Invest" in your hobby - be creative

You can take up a creative hobby or take a hobby and get creative.

A coin collection is really a good hobby provided you have the resources for it!

Numismatics (Coin collecting) is a costly hobby and i would advise you to go for it, IF AND ONLY IF, you are really interested in it.

TIP: Know More, Specialize

  • Beyond "general" collections - specialize in a Country or Time period!

Don’t try to collect everything, just a few things that you’re interested in Read everything about what you’re collecting. Be the expert! Talk to other collector. Most of them are learning also, but would love to share their knowledge. Don’t over spend. Make your purchases wisely. Save for any special coin you may want. Find a club, either locally or on social media. See what other folks like to collect. It will expand your knowledge and maybe make you want to know more! Good luck with your collection and always make it fun!

Tip: Meet and talk to Coin collectors - Coin shows and Coin Clubs

I have met so many wonderful people in this field. One great way was with going to coin shows. It was what made me really interested in this.

Coin Shows

  • September 27-28, 2019: Sacramento Valley Coin Club Show, Four Points Sheraton (Duckhorn Blvd)
  • October 11-13, 2019: Diablo Valley Coin Club Show, Elk's Club, Walnut Creek, Ca
  • October 19, 2019: Delta Coin Club Show, Eagle's Hall, Stockton, Ca
  • October 26-27, 2019: Fresno Numismatic Society Coin Show, Fresno, Ca
  • November 1-2, 2019: Sacramento Coin Show, Lion's Gate Hotel, McClellan, Ca
  • November 8-9, 2019: Sunnyvale Coin Show, Domain Hotel, Sunnyvale, CA
  • November 16, 2019: Vacaville Coin Show, Moose Lodge: 6585 Gibson Canyon Rd, Vacaville, Ca
  • December 6-7, 2019: San Francisco International Numismatic Bourse, Holiday Inn VanNess, SF
  • December 15, 2019: Sacramento Coin Show, Lion's Gate Hotel, McClellan, Ca

  • Sanjosecoinclub.org - US coin shows.

Coin Clubs

Coin tours in local cities

SF Mint and Dealer walking tour

  • Wells Fargo History Museum, 420 Montgomery Street
  • Bank of California Numismatic Museum (corner of California St & Sansome Street, one block)
  • Pacific Heritage Museum (608 Commercial Street, 2.5 blocks)
  • Old SF Mint at Mint Plaza.

Coin Dealers

  • griffincoin.com
  • Witter Coins (582 Market Street, 6 block walk)

Tip: Using EBay to round out your collection

To kick start your collection you can buy it of eBay or some where , so I really believe that it is a great hobby good luck with it!!

Collecting Coins 101

TIP: Tell stories about your collections - creating a legacy in documentation

Just the amount of knowledge you gain from studying your coins is awesome. Holding a little piece of History in your hand is amazing. Thinking about where that tiny coin went, what things where bought with it, all the people that handled it, etc. It’s also worth it to create a small “treasure” of precious metal coins for your children or grand children.

Don't be amateur about "CLEANING" Coins - could reduce value

Photographing Coins properly

Displaying Coins

International and Historical Coins

Collecting Coins for Modern Historical Learning

How would you feel holding something tangible in your hand that the British Empire was expanding or the American Civil War was raging?

Indian History - Avoid Silver - focus on cheaper Copper coins!

  • While US and Western collectors are obsessed with silver, so it appears looking at ebay, that they are highly over-bid.

  • Realistically gold and silver coins from India have been melted long ago for their content.

  • However copper is what India had been mining for thousands of years - likely to have been neglected.

Indian Historical Coins - Finding

Tip: Collecting International Coins

If you have a passion for history and geography, coin collecting is a natural for you. Imagine, thousands of years of lore and the history of lost empires, nations, kings, queens, generals and famous people will all speak to you as often as you please while you hold their coins in your hands.

TIP: ask your friends and relatives go to different foreign place by which you can get coins and notes.

A huge number of foreign “minors” may be found at low prices at coin shops or coin shows, with many dealers almost giving them away for children or beginning collectors.

And every traveler seems to get a pocketful of odd coins from any place they visit, for some odd reason.

Tip: Really ancient Archaeological-worthy Coins

How would you feel holding something tangible in your hand that was created when Socrates was teaching or Julius Caesar was conquering Europe. Who had these in their purses or their pockets? Workers, soldiers, generals, emperors, dictators, movie stars - the range of possibilities are endless.

Collecting for Rare and Precious Metal Content - Silver and Gold

"Precious" - don't take it too far!

Some people take their hobbies too seriously and in a competitive manner and that, sometimes will affect their life(Maybe personal or professional or social or something else).

Security for really valuable collections!

Low Minted quantity and Precious Coins worth the most

Depends on what coins you want to collect. Some coins that were in circulation a few years back can be bought for cheap but some coins are very old or made from gold or platinum which are very rare made in small numbers can be really expensive. Some gold coins that have low mintage like 500 or 1000 can cost even upwards of $5000.

Trading up - opportunistically

Often you will gather tons of intermediate rare coins, and then get an opportunity to buy a rare coin at a discount - if you know what you are seeking!

Error Coins - if you know what you are looking for!

One of the most rewarding types of coin to collect are error coins. Error coins can be found every day in change. I always check my change to make sure that there are no errors in the coinage. I’d say maybe one in three hundred coins I check has an error. They are usually not that valuable but I have found a few rare errors worth around twenty five dollars. The only thing you have to pay is the loss in productivity you spend checking your change, although I think the added excitement and fun outweighs the cost.

Really rare coins to watch out for

Appraising Coins and Collections

Investing for Silver Content

Silver: Quarters <= 1964, Pennies<?, Dimes<?

The very first U.S. quarter the U.S. Mint struck in 1796 contained 90% silver.

Up until 1965, all United States dimes, quarter dollars and half dollars were made of 90% silver and 10% copper.

When most people talk about silver quarters, they're referring to the Washington quarters Silver Series which were produced from 1932 to 1964 --- these are typically the easiest silver quarters to find. Generally speaking, common silver quarters of the 20th century in well-worn grades are worth between $5 and $10.

  • eg uncirculated 1964 silver quarters are worth $4.25 each

However, many of these quarters may be worth more as collectibles than merely for their bullion value.

So many of the silver containing quarters have been pulled out, it is very hard to find any that are 1964 or older. People all across the country have for decades been pulling silver coins out of circulation, creating a national coin shortage. Yet they are not that much more valuable.

The Coinage Act of 1965 changed the compositions of these coins to reduce or eliminate their silver content because the price of silver had risen above the face value of the coins. Dimes and quarters were replaced with clad coinage that was a 75% copper/25% nickel outer layer bonded to an inner core of pure copper. So, in 1965, the U.S. Mint was forced to switch quarter compositions over to copper-nickel clad as silver prices were rising very quickly. The value of the silver in the quarter was actually worth more than the face value of the coin. Source

Proof Coins minted for Collectors - with 'S' mark

With the exception of 1999-S silver proof 50 state quarters (which are worth around $40 to $50 each), all proof silver quarters minted since 1992 are worth, on average, between $5 and $8 apiece.

As all 1776-1976 40% silver quarters struck for collectors include an "S" mintmark.

Bicentennial quarters

Without the S-mark it could be a copper-nickel clad Bicentennial quarter made by the Philadelphia Mint for circulation.

Certain scarce dates are valued much higher than silver content

Here are a few of the rarest dates of 20th century silver quarters and their values. These values are based on current pricing information from the Professional Coin Grading Service (PCGS).

  • 1898-Barber Silver quarter to 1901-S Barber Quarter:  $5,500 in Good, $17,500 in Fine, and $35,500 in Mint State
  • 1913-S Barber Quarter: $1,750 in Good, $4,750 in Fine, and $11,000 in Mint State
  • 1916 Standing Liberty Quarter: $3,600 in Good, $7,000 in Fine, and $15,000 in Mint State
  • 1918/7-S Standing Liberty Quarter (Overdate) $1,900 in Good, $4,000 in Fine, $20,000 in Mint-State
  • 1923-S Standing Liberty Quarter $390 in Good, $700 in Fine, $3,000 in Mint-State
  • 1932-D Washington Quarter $190 in Good, $260 in Fine, $1,600 in Mint-State
  • 1932-S Washington Quarter $210 in Good, $250 in Fine, $585 in Mint-State
  • 1934 Washington Quarter Doubled-Die Obverse $60 in Good, $135 in Fine, $950 in Mint-State
  • 1937 Washington Quarter Doubled-Die Obverse $130 in Good, $325 in Fine, $2,650 in Mint-State

  • Silver Quarter Value: How Much Are Silver Quarters (Before 1965) Worth? | The U.S. Coin Guide

Collecting Gold Coins

US Coins 101

Dollar Coins

Which Coins Aren't Worth A Thing...

Quarters

Which Coins Aren't Worth A Thing...

And huge amounts of quarters, nickels and dimes from 1990s and 2000+. In particular state quarters were in huge quantities

Somewhat Valuable Quarters

Most Valuable - Rare Quarters

Dimes

  • After sorting 100s of coins in Nov 2019, I realized that there are VERY FEW (<2%) of coins from 1960s and 1970s. Did not find any (0%) coins from 1950s. Lots from 1980s though less (~10%).

And huge amounts of quarters, nickels and dimes from 1990s and 2000+.

Which Coins Aren't Worth A Thing...

Nickels

  • After sorting 100s of coins in Nov 2019, I realized that there are VERY FEW (<2%) of coins from 1960s and 1970s. Did not find any (0%) coins from 1950s. Lots from 1980s though less (~10%).

And huge amounts of quarters, nickels and dimes from 1990s and 2000+.

Which Coins Aren't Worth A Thing...

Pennies

  • After sorting 100s of coins in Nov 2019, I realized that there are VERY FEW (<2%) of coins from 1960s and 1970s. Did not find any (0%) coins from 1950s. Lots from 1980s though less (~10%).

And huge amounts of quarters, nickels and dimes from 1990s and 2000+.

Which Coins Aren't Worth A Thing...

Which Pennies Are Worth Something...

  • Wheat Pennies (...worth 2 to 5 times their face value)
  • Steel Pennies (...supposedly very common; all are from 1943 and they stick to a magnet; worth up to a dime)
  • 1943 Copper Pennies (...they primarily made steel pennies this year, making the standard copper penny rare for the year 1943; how does $20,000 sound?!)
  • Indian Head Pennies (...who knew a penny could be worth up to 3 dollars?!)

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