The hobby of coin collecting can be challenging and exciting for those who wish to undertake it.Although coin shops today can be a little intimidating, and you can quickly become overwhelmed by the size and scope of coin collecting, we hope to guide you into this intriguing and sometimes valuable hobby.Coins have several different values that we should define before we start.The first value is what is referred to as the face value and what is stamped directly on the front of the coinage.An example would be quarters (25 cents), dime (10 cents), and a penny (1 cent).The second value is the precious metal value of the coin.For instance pre-1965 dimes, quarters, and nickels actually have a high content of silver.The use of silver was discontinued in this coinage because the cost of the metal rose to the point that the metal content of the coin was worth more than the face value.Many of us can remember the same thing happening to the price of copper and the changing of the metal content in a penny to compensate for the rising cost of the precious metal in 1982.The third type of value is referred to the numismatic value or the collectors' value.This value is different from the face or metal value in that it is derived by a coins uniqueness and value to other coin collectors.Some examples of these types of coins are the Buffalo Head nickel and the Liberty Head Nickel.The first place to start on your journey of coin collecting is right in your pocket.That pocket change from the vending machine or left over from grabbing your morning coffee can be the perfect entrance into this hobby.Although coins might have a high numismatic or metal value they still may be in circulation at their face value and just waiting for you to find them and add them to your collection!The purchase of a coin guide from your local coin shop or book store can help you start identifying which coins are worth keeping and which ones are better to use at face value.Start small with pennies and quarters and then work your way up.Your number one asset will be your diligence in checking coins as they come into your possession.Once you are comfortable you can then take the next step into precious metal coinage such as the American Silver Eagle and Gold American Eagle.The cost of these coins actually fluctuates with the cost of the precious metals as they are minted 99.99% pure by the U.S.Mint.Hopefully this has helped get you started and enjoying the hobby of coin collecting.Remember keep your eyes open as you never know when that Buffalo Head Nickel might cross your path!
Sunday, September 9, 2012
Coin Collecting - Pennies, Quarters and the American Eagle Silver Dollar
The hobby of coin collecting can be challenging and exciting for those who wish to undertake it.Although coin shops today can be a little intimidating, and you can quickly become overwhelmed by the size and scope of coin collecting, we hope to guide you into this intriguing and sometimes valuable hobby.Coins have several different values that we should define before we start.The first value is what is referred to as the face value and what is stamped directly on the front of the coinage.An example would be quarters (25 cents), dime (10 cents), and a penny (1 cent).The second value is the precious metal value of the coin.For instance pre-1965 dimes, quarters, and nickels actually have a high content of silver.The use of silver was discontinued in this coinage because the cost of the metal rose to the point that the metal content of the coin was worth more than the face value.Many of us can remember the same thing happening to the price of copper and the changing of the metal content in a penny to compensate for the rising cost of the precious metal in 1982.The third type of value is referred to the numismatic value or the collectors' value.This value is different from the face or metal value in that it is derived by a coins uniqueness and value to other coin collectors.Some examples of these types of coins are the Buffalo Head nickel and the Liberty Head Nickel.The first place to start on your journey of coin collecting is right in your pocket.That pocket change from the vending machine or left over from grabbing your morning coffee can be the perfect entrance into this hobby.Although coins might have a high numismatic or metal value they still may be in circulation at their face value and just waiting for you to find them and add them to your collection!The purchase of a coin guide from your local coin shop or book store can help you start identifying which coins are worth keeping and which ones are better to use at face value.Start small with pennies and quarters and then work your way up.Your number one asset will be your diligence in checking coins as they come into your possession.Once you are comfortable you can then take the next step into precious metal coinage such as the American Silver Eagle and Gold American Eagle.The cost of these coins actually fluctuates with the cost of the precious metals as they are minted 99.99% pure by the U.S.Mint.Hopefully this has helped get you started and enjoying the hobby of coin collecting.Remember keep your eyes open as you never know when that Buffalo Head Nickel might cross your path!
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