Start Coin Collecting At Any Age

Old coins that is.  Try looking under that old dresser, or up the attic where grandma or grandpa’s things may be stashed away patiently waiting for you to discover them.  Who knows, you might find a coin there, an old coin that – at today’s rate – may be worth a few dollars; probably three or four or five, even ten times what the coin was worth back then. 

A penny a day, is worth okay

Fortunately or unfortunately, there was a shortage of copper during the year 1943 and all pennies made at that time were minted using steel. There were however, some Lincoln pennies that were incorrectly minted on bronze that turned out to be blanks.  A few years – or decades later -these bronze pennies became a rarity and are valuable.  The steel ones though, because of their commonality, are worth only between one to three dollars each. 

Be aware and be wary as there are schemes where gullible coin collectors are sold coins that are copper plated in an attempt to make these pennies appear to be bronze.  Also, keep your guard up anytime someone offers you a circa 1943 penny made out of a metallic white alloy.

Old coins are good coins

Coins, specifically the silver dollars made and circulated between the years 1878 and 1935, are worth between twelve dollars and twenty five dollars for the circulated coins.  The coins that were not in circulation are worth considerably more.

Meantime, those quarters, dimes, or half  dollar coins made and circulated prior to 1965, are usually made out of ninety percent silver and therefore worth as much as today’s silver (with an additional premium, albeit small, put on the coin’s face value).

Wrong pennies are right

There is a Lincoln penny issued in 1972 on which the date and the letters on it appear to have been doubled.  This rare coin is currently worth about sixty dollars, assuming the pennies are in standard condition. The Philadelphia Mint during that time period accidentally misaligned the die used in minting the coins causing the portrait of Lincoln to look like it was doubled.  Fortunately or unfortunately, eighty thousand of these were circulated before the error was discovered.

In summary, coin collecting is similar to collecting bits of history and trivia from the past.  In addition to the face value its worth as a treasure – pennies, dimes and coins – often are worth more in the long run.

Software used for coin collecting

It is a common coin collecting problem: too many coins, not enough information on what kinds of coins to collect, or a disorganized group of collectibles.

The solution?

There are programs that are especially created for computer use, commonly known as software. Coin collecting software packages are created by professionals to help those who are having a hard time organizing and tracking their coin collections.

These systems keep classifying, organizing, and cataloging coins at your fingertips while trying to find other coins that a collector might want to add to his personal collection.

Other advantages of these software packages for coin collecting are:

1. Organizer buddy

It is a coin collector’s best friend. Coin collecting software packages are exclusively created to help the hobbyist organize, manage, and track their coins fast and without difficulty. With almost 300 billion coins that were manufactured by the U.S. Mint alone, who could sort through all of these coins to find the ones they would like to own?

2. Statistical reports provider

With these coin collecting software programs the collector to easily record statistical reports about coin collecting for quick references in the future.

3. Provides numerous ways to interpret, view, and access coin collecting data

With software packages, every coin collector can easily view his data in many ways. He can either choose to view the data in tabular form or in virtual form or can modify these tables and generate reports with just one click.

4. Provides easy-to-use templates

Coin collecting software packages are perfect even for the “newbies” in information technology. This is because there are templates that are available at any time for the recording and organization of data. The collector can then just enter the data he needs to log without having to use complicated formulas.

5. Saves more time

With these software packages, the coin collector will be able to save time organizing his coin records, leaving ample time for other activities. This means spending less time organizing and managing coins and more time for enjoying the hobby.

The tedious job of keeping a systematic record is sometimes the main reason some coin collectors give up the hobby, and why employing such tools will make coin collecting more enjoyable.

Using computer technology is the better way to make coin collecting easier.

Creating Your Own Coin Collecting Kit

Coin collecting isn’t only about keeping coins, to coin keepers it is about so much more. This hobby requires methodical practice and patience. As a hobbyist you need to adhere to some very specific rules to help you become a successful collector.

Below are some things you will need to have as you develop your own coin collection.

1. A books about coins

Collectors of all skill levels should use guide books to help them identify and price their collection and any additions to their collection.

Coin books also give start up tips and some special instructions on how to grow your collection.

Coin pricing can be tricky so these books can help you figure out an accurate price, by teaching you how to grade them.

You should study from the books before you start your collection to help you steer clear of bad investments.

2. Keep a coin inventory

You must keep a complete record of all of the items in your collection. You should record cost, grade, face value, year, trend and any remarks should be kept for any future needs.

The information in your inventory can also help you determine which coins have gained or lost value and which ones simply are no longer needed.

To help you keep quality records you could either use pen and paper or use the software that has been made for coin collecting.

3. Box for coins

To prevent damage to your coins keep them in boxes or properly protected holders.

Paper made with sulfur or plastic made with pvc shouldn’t be used to store your coins, because they can cause chemical reactions when they come in contact with them.

4. Silica gel

Silica gel will help to lower the humidity level and correct the temperature.

5. Magnifying glasses

Magnifying glasses help you to rank coins by showing all the fine details and blemishes of each coin.

Magnification from 4- 10 x will work, but 7x is the preferred level of magnification.

6. A source of light

Keep your light half a meter from your work surface. An incandescent lamp, 75 watt lamp, or halogen lamp would be the best types of light.

7. Tools

Your fingers can leave marks on your coins that lessen their value. Use surgical gloves and velvet pads to keep from ruining your coins.

You finally finished building your coin collecting kit. Use it and enjoy collecting your coins.

Supplies For Coin Collecting

Collected coins must be kept safe from damage as their overall value depends on it and even the smallest amount of damage can significantly lower the its value. Certain supplies will help collectors preserve their coins without damaging them.

Gloves

The dirt and oils on your hands can scratch your coins. Gloves will provide a barrier between that dirt and the coins to prevent scratches or other forms of damage. Use cotton, plastic, or surgical gloves.

Coin tweezers

If gloves pose a problem for you, then try using a pair of coin tweezers. The tips of these specialized tweezers are coated in plastic to prevent scratching.

Magnifying glass

You need to see all of the fine details of your gold coins that may not be visible to the naked eye. A magnifying glass will aid you in this process, but be careful when using them to avoid doing damage to your coins.

Guide Books

To help you find quality coins at good prices use a guide book. Take your time and allow this resource to lead you to higher quality finds after all just one quality coin is worth far more than a collection full of okay ones.

Quality Dealer

You should buy from a dealer with a good reputation and that is known well amongst collectors. If a dealer has been around for years and very few people know of them it is most likely because they aren’t as good as other dealers, so take the time to find out why. No dealer can know every type of coin, so find one that specializes in your type of coin. If the dealer seems to know too much about too many coins listen to your instincts and run.

Cleaning materials

Use a very strong and soft fiber cloth and a mild soap to clean your coins.

Mats

Always use a mat on the table you work on with your coin. If you drop the coin you don’t want to damage it and reduce it value. The mat or soft cloth if you don’t have a mat can keep the coin from being damaged if it is dropped.

Boards

Many people opt to use coin boards to display their coins, but be careful not scratch the coins putting them in the boards. Also the boards may not have a film to cover the coin allowing it to be damaged by the air around it. If you use boards find one that fully protects the coins from being touched and from the dangerous oxidation caused by the air.

Envelopes

Use coin envelopes when you take your coins to different places to protect them from damage. You can also put some specific details about the coin in the envelope. Be careful not to drop the coins or allow them to bang up against anything as the envelope will offer no protection form impact.

Other Supplies

There are other supplies you can use like coin holders, coin folders, and coin boxes. Most of these things will be for the protection of the coins. Be careful how you use them and don’t buy anything that will damage your coins. As time goes on you may develop your unique way to protect your coins. Remember your coins are only valuable as long as they are not damaged.

Building A Basic Coin Collecting Kit

Coin collecting is a hobby that has a large misconception to it. Most people think that coin collecting is basically keeping some of the change you receive from purchases and putting them into coin folders according to date and mint. The truth is that coin collecting is not just a simple hobby for kids, but a complex, and rewarding hobby along the likes of archaeological expeditions.

Like any hobby there are tool of the trade that you should use in order to get the most out of coin collecting. These tools, while somewhat simple in nature, are instrumental in making sure you get the most out of your time, investment, and fun. Here is a short list of some of the most common items you would need for a basic coin collecting kit.

Up To Date Coin Guide

A newly published, up to date coin guide is the most important tool a coin collector can have. It contains all the information you need like grading, pricing, special issue rare items, and other such information.

Before you even get started with your coin collecting taking some time to read through several coin guides, and even periodicals devoted to coin collection, is highly recommended by all experts in the field.

Coin Container Or Folder

Any collection worth any merit, and passion, deserves special collection container so you can show off your hard work and attention to detail. Containers and special coin folders are all available so you can present those very rare coins and keep track of the special limited edition coins such as the new state quarters.

Inventory Record

Being able to keep track of the coins in your collection is a must. Coin collectors go to great pains to keep track of their inventories and record everything about their special coins. Everything from the date, color, mint, deformities, date acquired, and any other special information is recorded for both the collector and even a potential trading partner or buyer.

A Good Magnifying Glass

Coin collectors have great need for magnifying glasses for looking and appraising coins in their collections. General recommendations for this would be something in the 4x to 10x range. While a handheld version would be good if you are going to auctions and storefronts, a table top magnifying glass will help you to take your time evaluating the coin and be able to use both hands.

A Light Source

Ever wonder why police, and special investigators use lights during the daytime? It’s so that the light will help them to pinpoint things, create shadows, and see into crevices and places that are hidden from light. Having a small lamp, flashlight, or other type of light source in your kit is a great addition.

Equipment For Handling

While we handle coins everyday, a coin collector should take great care in handling coins in his collection as the oils in our fingerprints can diminish the grade of the coin. Having gloves, tweezers, or other gripping type tools will help greatly.