The Best Way to Begin Coin Collecting

The best way to begin coin collecting is by learning all you can about it. Whatever it was that got you interested has done you a favor. Coin collecting is a hobby that can grab you by the tail and never let go. But that is a good thing. Building a coin collection can be a bit like accumulating bookmarks while surfing the Internet. One great find leads to another!

Ask a coin collector how he got started in the hobby and you will likely be told about —
receiving coins from an older relative, or —
rediscovering the pocket change from a recent foreign vacation, or —
finding old coins in a forgotten dresser drawer, or —
hearing a news story about a fabulous price paid for a rare coin at auction, or —
locating a barely definable old coin with a metal detector in the backyard, or —
seeing a close-up shot of a stack of twenty dollar gold pieces on a high stakes poker table in a Western movie, or —
reading about the recovery of a centuries old cargo of silver coins from a Spanish treasure galleon, or —
finding an odd coin on the sidewalk, under the bed, or lodged deep within the spicy confines of a macho-combo burrito. (It could happen.)

Whatever the circumstances, I challenge you to find a serious coin collector who cannot recall why and how he got hooked on building a collection of meaningful coins.

Meaningful coins?

The ones worth big bucks, right?

Sure. If you are into coins strictly for their market value, then yes, high value coins are where you want to be. (But be sure and learn how to grade coins and gain some knowledge about what makes one coin worth more than another.)

On the other hand, many collectors are just as passionate about their coins for other reasons, not quantifiable in the coin market. Coins are so often tokens of curiosity about people, places, and historical events.

Every coin has a story. Every coin collection is as well a collection of these stories. Take your cue from these stories as a direction for your collecting.

The longer you collect, the more you will learn. The more you learn the more meaningful will be your collection. And it will lead you down some fascinating paths.

When an old family friend gave me a tattered old bill from his wallet, it expanded my interest in coins to include paper money. My friend had carried this note for years as a familiar oddity — a conversation piece perhaps. Only recently I have discovered that this old Confederate dollar bill was, in fact, a counterfeit. But, of course, there was more to the story. That is on my website at [http://www.valuable-coin-stories.com/old-paper-money.html]

About The Author:

David W. Baker has collected coins since age 11 — so, more than half a century. Coins have been a pleasant distraction for him over the years. Though he’s never been a coin dealer, he has have occasionally sold a coin or two at a nice profit, when the market was right. These experiences taught him a bit about coin value in the marketplace. But, he would be the first to say that his greatest pleasure with coins has been the hooks they have to history and other areas of learning. Dave says that he can never quite get beyond the feeling that, if any of his coins could talk, the stories would be priceless!

Popular Places For Buying Collectible Coins

If you are a coin collector, one of the joys of collecting is spending a considerable amount of time finding coins. Coin collecting is a bit like treasure hunting in that you are constantly looking for certain coins to complete a collection or just looking for a certain coin that you find intriguing.

Finding coins for sale can be a bit of a learning experience for new collectors who may not know where to look to find coins that are for sale. Below is a list of places and venues that you can buy coins.

Internet Auctions

Internet auctions such as eBay have become a very popular place to find coins. Buyers from around the world list coins for sale on eBay in hopes of attracting many buyers. The success of eBay’s coin collecting section has been very well received in the numismatic community and many members of the community frequently buy and sell through Internet auctions.

Coin Shows

Coin shows have been around for years and are a great place to network with other coin collectors. Generally they are setup on weekends in hotel convention rooms or other public halls. A large number of collectors set up tables or booths and display the coins that they have for sale. This can be a great place to learn from other more seasoned coin collectors.

Flea Markets

Weekend flea markets are setup many times on weekends and carry just about anything that you can think of. Frequently coin collectors will set up tables at Flea Markets in hopes of displaying their coins and other antique to hungry buyers.

Estate Auctions

This is a very common place to buy antiques in general. Many elderly people, upon passing away have their assets liquidated through the means of an auction sale where everything is sold. Often these people had small coin collections that date back many years. Once in a while a very valuable coin is sold at an estate auction. It’s unlikely that the deceased owner knew that they were holding onto a coin of such high value.

Coin Related Periodicals

Coin newspapers and magazines that are published on a weekly or monthly basis are a great place to learn about coins. They also contain advertisements for coin stores and large coin dealers so that you can contact these people about certain coins that you wish to buy or sell.

Antique Stores

These are retail stores operated specifically to sell antiques. Usually filled with furniture and other old knick-knacks, sometimes they will have a small coin collection for sale.

Coin Shops

These are becoming less frequent today because of the high cost of doing business in a physical building, vs. the low cost of operating on the Internet, but they are still around. Many times these retail stores have been around for many years and the owners have a great degree of knowledge about the products that they sell. Generally, because they are being sold in a retail environment, you may have to pay a premium to buy there.

Tips of Finding Cheap American Silver Eagle Coins

American silver eagle coins are bullion coins first offered in 1986 through a program implemented by the US Government. In 1985, the American Congress authorized the production of coins and via the program the coins are certified by the government based upon their content, purity, and weight. Finding cheap silver eagle coins is very easy if you know what to look for and where to shop.

First and foremost, give some consideration to online shopping for the American silver eagle coins you are searching for. By using the Internet, you are broadening the scope of your coin shopping endeavor and you can instantly find coin sellers and dealers from all around the globe. Once you have located reputable sellers, you can begin the cumbersome processes of comparing coins’ prices.

When hunting for American eagle silver coinage, you should know well in advance what to demand from a seller. These coins have very specific designs derived from the “Walking Liberty” fifty cent piece. You will be seeking out coins with a heraldic eagle created by Mr. John Mercanti, the have a one-dollar denomination on the front, and the proof variants have been specifically struck with carefully chosen dies.

These coins are sold through what is identified as “Monster Boxes.” The boxes are green in coloring and hold a total of twenty-five coin rolls. Every roll holds as many as twenty coins. Buying in bulk quantities will prove to supply you with the lowest possible premium for the coins that you seek. You can also find these coins offered in single rolls consisting of 20 silver coins. These rolls are marked with the US Treasury seal. You also have the choice of buying one coin at a time, but you can anticipate paying more when you opt to buy coins individually.

The American silver eagle coins on offer today are in very high demand; this means you can find them with relative ease and you can convert them just as fast. The silver eagle proof and uncirculated variants are a bit harder to come by simply because they were no longer made after the year 2009. This means you just have to do a bit more research if you are hunting for the proof and uncirculated versions. If you shop online to seek out the coinage you desire, you can narrow down travel time, shop from home, and find the coins you desire with relative ease.