Here are some tips for collecting coins. Coin collecting is an interesting hobby that is easy to start. In fact, some valuable coins can be found in pocket change and otherwise still circulating in the monetary system. Finding valuable coins in circulation is not an everyday event, but this is a common way that many people have got their start in coin collecting. Here are some general tips for collecting coins whether you are an experienced coin collector or just getting started.
The prices for coins are based on the current grading system in use. This applies for old coins as well. It is crucial to first gather as much information as possible regarding old coins prices before you venture into buying or selling them. Other details you may want to know are the general condition of the coins and what sort of old coins collectors are looking for. You can source for this information in your local library, from the Internet or from various other books that are sold and which have topical issues about coins.
Ron remembers the day a nicely dressed man in his mid-40s came into his “>coin shop Greensboro
Secondly, studying coins will guide your collecting efforts and purchases. Every coin has a story. There are the 3-cent pieces that were driven by the price of postage stamps and having friends in high places, or the “racketeer nickels” that were 5-cent pieces colored gold by thieves that forced the mint to change their coins, and the designer vain enough to put his initials on his coins without asking permission, for just a few examples.
If the coin does not have the “S” San Francisco mint stamp on it, don’t waste your time because the coin is essentially worthless. Ike silver dollars with the “S” stamp contain .3162 troy ounces of silver.
Some people start by being interested in a particular type of coin. The U.S. Mint’s State Quarters program, beginning in 1999, is a good example of a type of coin that many people started collecting.
In other words now that know the old coin value you can keep it in your collection and start hunting for more old coins or could you sell the coin. Of course there’s also a good chance that if you hang on to your old coin long enough, the value of it will climb steadily over the years.