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Coin Collecting For Beginners: [WHAT YOU NEED TO KNOW]

Coin Collecting For Beginners: [WHAT YOU NEED TO KNOW]

This age-old game appeals to individuals of every age and from various walks of life. Coins were traditionally given as gifts on significant occasions in ancient Greece when coin collecting first became popular. People like searching for old, rare coins or memorable special editions to include in their collections, which is a well-liked hobby.

To start a collection, you must identify what aspect of coins attracts you. Regardless of the kind of coins you plan to collect, investing in a few coin boxes is a great idea to keep your collection organized. Once you have gathered your albums, you can begin looking for coins.

Finding coins and putting them in a box are not the only aspects of collecting. Coins reveal various details about the time they were made and the famous people who lived during that period. However, some collect coins just because of the excitement.

coin collecting

Coins Wanted By Collectors

Any coin collection will look better and be worth more with rare coins. Consider the history you have in your grasp; it might be a Standing Liberty quarter from World War I that a soldier brought along. Alternatively, perhaps a Morgan silver dollar that traveled in the Wild West with a pioneer.

The guardians of these riches are coin collectors, and a shrewd collector can also use them as investments. You can choose from various coins that are both affordable for new collectors and challenging for more experienced collectors, as well as coins that fall somewhere in the between. Below are some coins wanted by collectors.

Saint Gaudens Double Eagle

The Saint-Gaudens Double Eagle is well-known among coin collectors. The fact that these were produced from 1907 to 1933 may surprise you, but the 1933 gold recall compelled many people to exchange these coins for bank notes. Many of these precious coins still exist, but the most sought-after is probably 1933, which sold for $18,900,000 in 2021 and can sell for $20,165,100 in 2022.

Brasher Doubloon

The initial gold currency ever minted in the U.S was the 1787 Brasher Doubloon, designed by a member of George Washington's friend, Ephraim Brasher, before the first federal mint in the country opened. It is among the most costly coins right now.

Although seven were made, only one had Ephraim Brasher's initials on the eagle's breast. One of the most precious rare coins sought after by collectors, this sought-after treasure was just auctioned in 2021 for $9.36 million and could be sold for $9,986,500 in 2022 dollars.

Flowing Hair Silver Dollar

It was rare that several people thought about what would happen to this coin when it was first made. However, more than 200 years later, this valuable coin has become the most costly in history.

The Flowing Hair Silver Dollar, produced from 1794 to 1795, was the country's first silver dollar currency. However, one unique example of the first production runs in 1794 rose to fame in 2010 after it sold for an astounding $10,016,875, or $13,280,850 when adjusted for inflation.

Edward III Florin

Although it can be tough to fathom, this coin makes sense because it has survived for almost six centuries and is now among the most precious coins to search for. The Edward III Florin, often called the Double Leopard, is a rare coin worth millions of dollars.

In 1857, two 1343 specimens were discovered; in 2006, a metal detector enthusiast in England discovered another. It is now considered valued at $6,800,000 and sold at auction for £460,000.

Penny Collection

A few little copper bits can be worth thousands of dollars. Values for the rarest and most valuable pennies in the world are already over $100,000 and close to $2 million. However, the rarity of an item contributes significantly to its value.

Another factor is condition; old coins may still have their original color and exquisite detailing, which greatly increases their value. Some coins gain value unintentionally, such as the 1943 Lincoln pennies. Below are some penny collections.

1914 S Lincoln Penny

By no means is the 1914-S Lincoln cent a rare coin. After all, the San Francisco mint produced almost 4 million of them. The fact that this piece is in perfect condition despite being more than a century old makes it incredibly valuable. The coin's surface is free of discernible bag marks and still has its original vivid red-orange copper color.

1909 S VDB Lincoln Penny

The Lincoln cent took the place of the Indian Head penny in 1909 at the United States Mint. Victor David Brenner produced the design under the direction of Theodore Roosevelt. On the back of the coin, underneath the two ears of wheat, Brenner placed his initials V.D.B.

Up to this time, coin creators only used their last name's first initial; it was unusual for all three initials to appear on a coin's design. These pennies were produced in somewhat less than half a million pieces. This penny quickly became a phenomenon with coin collectors, and for those who collect Lincoln pennies, it is now referred to as the "Holy Grail."

1926 S Lincoln Penny

This coin does not appear to have anything particularly eye-catching about it. The mintmark and date combination distinguishes this piece from all others, even though it is uncirculated and still has its original copper-red hue from the day it was produced. The low mintage of this coin is one element that contributes to its high value.

With a lesser mintage, just nine additional Lincoln wheat pennies exist. Additionally, most coin collectors in the 1930s and 1940s bought their coins in circulation, making locating a circulating 1926-S Lincoln penny simple. However, finding a 1926-S uncirculated Lincoln penny in its natural copper-red hue is difficult.

Coin Dealers

A great resource for learning about coin collecting is the internet. Below are some top coin-related websites that were chosen based on their information and their accuracy. You will also be able to select from a selection of sites that will provide you with the most knowledge and information.

The United States Mint

A one-stop shop for information on and purchases of United States coins is the United States Mint website. The website is split into three main sections: news, history and learning, and shopping. Each of the currently offered mint goods is accessible in the shopping area.

Typically, the mint will only sell coins and medals currently being manufactured. Things from a year ago that have not been sold may still be on the market. You must visit your preferred coin shop when searching for older coins.

Newman Numismatic Portal

Eric P. Newman, a renowned coin collector in the numismatics field, donated to establish the Newman Numismatic Portal. Newman became one of the most renowned researchers in the field of coin collecting thanks to his fascination with coins and unquenchable curiosity.

Newman began to market his coin collection in 2013. His sale generated millions of dollars in revenue. This money was partly contributed to support Washington University, which hosts the numismatic research site.

beginners coin collecting

Heritage Auctions

Heritage Auctions, situated in Dallas, Texas, is the biggest numismatic auction house in the world. Furthermore, Heritage has locations throughout Asia, Europe, and the United States. Heritage is the top seller of precious and rare coins, but the average collector can also buy reasonably priced objects.

Their accessible database contains comprehensive catalog descriptions, information, and values realized for over two million coin records. Their entire catalog of auctions is available online.

Final Thoughts

Investing in a few coin organizers is a good option if you begin coin collecting. You can purchase folders that are either empty or arranged by coin type or date. Moreover, always be on guard; a highly desired design can fall into your lap. It is important to inspect your change before using it carefully.