Thinking about getting into coin collecting.. a few questions

[DigginDiva]

Hi all.. pretty new here as a poster and as a MD. I have picked up a large variety of coins with my MD in the two weeks I have used it; all within my yard and suddenly I have become fascinated with coins. Obviously I have nothing of great value. I have a few silvers and a lot of wheats. My kids have begun to develop an interest in them too and frankly, anything that gets them off the darn computer and/or playstation and into a hobby is worth the time and investment for me.

So a question..

For a new person who is just beginning to delve into this hobby, what books might you recommend? My kids are 11 and 12, so they don't need something really basic. I want them to be able to understand the value of what they are collecting, but not in really technical terms either.

Any help would be appreciated and thanks in advance.

 

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[Sandman]

Having just gotten off the X-Box from playing Pirates! and gotten on the computer, I'll try to answer.

I can't recommend any books for children as most I have are involved. I would suggest a Coin magazine. It would have books for sale too. A couple folders for collecting various coins, like the new state quarters are interesting. Kids aren't interested in the quality of the coins, yet, just the collecting.

 

[bk]

I haven't got advice on a particular book, but first think about what you would like to collect. I personally like US type coins ie... Odd denominations such as 2 Cent, 3 cent, half dimes, etc.
Once you decide on what to collect, then look for a book on that subject. Learn how to properly grade them before you spend a lot of money.
There are probably hundreds of ways to collect. I recommend picking an area that interests you the most and start from there.

Good luck!

 

[Jeffro]

Any book that says "coin collecting for beginners". I have one written by Burt Hobson and Fred Reinfeld that is pretty good.

Don't get thrown by the title, beginners books are just that. Doesn't matter what age you are. Alot of good basic information without a whole lot of technical stuff that could really get your head spinning.

American guide to US coins by Charles French is also a good one. And Coin collectors survival manual by Scott Travers is also good.

 

[Klaatu]

Jeffro has made some excellent recommendations.

You should buy a copy of the Red Book (A Guide Book of United States Coins) by Yeoman. This book has all the basic information you will need about every US coin ever minted -photos and descriptions, varieties, mintage figures, values. It describes the minting process and the difference between business strikes and proof coins. It is very educational to follow the changes in a coin through the years; for instance, cents were HUGE in the beginning (they are known as Large Cents), almost as large as a half dollar, until the value of the copper in the coin exceeded 1?. The Small Cent was born as the Flying Eagle cent, then the Indian Head cent, the Lincoln Wheat Reverse (Wheatie) cent and then the Lincoln Memorial cent we have today.

I would also suggest that you buy some coin folders (with holes for coins). First you might want to collect the State Quarters - just pluck them out of your pocket change. Next you might want to get folders for Lincoln Cents, Jefferson Nickels, Roosevelt Dimes, regular-issue Washington Quarters, Kennedy Halves and Susan B. Anthony and Sacagawea Dollars. It will be a challenge to find one of each date and mint (mintmarks are something new to learn about). You should be able to find Kennedy halves and SBA and Sac dollars at your bank.

Learn the difference between modern copper-plated zinc cents and the earlier bronze cents - and the fact that both were minted in 1982. Compare modern clad coins to pre-1965 silver coins. Buy a proof set and compare those coins to coins made for circulation. Get a magnifying glass so the kids can see the finer details better - look for the word Liberty on the Indian's headdress or the diamonds on her ribbon on an Indian Head cent ; look for the initials of the designers of a coin; find the mintmarks; try to find errors.

Visit a local coin dealer's shop. They should be happy to teach you and your kids a thing or two. This is also where you can buy your coin folders and books. Buy examples of discontinued 20th Century coins - Indian Head cent, Lincoln Wheat cent, Buffalo and V nickels, Mercury and Barber dimes, Standing Liberty and Barber quarters, Franklin, Walking Liberty and Barber halves, Peace, Morgan and Ike silver dollars - you should be able to buy a circulated example of all of these for $50 or less.

Go to a coin show.

And learn how to handle and store coins. (Ask your coin dealer to show the kids.)

This should get you started. Good luck!

 

[DigginDiva]

Any book that says "coin collecting for beginners". I have one written by Burt Hobson and Fred Reinfeld that is pretty good.

Don't get thrown by the title, beginners books are just that. Doesn't matter what age you are. Alot of good basic information without a whole lot of technical stuff that could really get your head spinning.

American guide to US coins by Charles French is also a good one. And Coin collectors survival manual by Scott Travers is also good.

I didn't know this but I have a friend who is friends with Scott Travers. They are going out to dinner Saturday night and he is getting me the Coin Collectors Survival Manual. How's that for having friends in high places?

Excellent advice in this thread and it is much appreciated!

 

[snake35]

Start out collecting what you like and can afford. I do not collect coins, but speculate in key and semi-key dates that I think will appreciate in value. It is not as much fun as collecting, but it can be financially rewarding. Good luck.

 

[HobBob]

You should buy a copy of the Red Book (A Guide Book of United States Coins) by Yeoman. This book has all the basic information you will need about every US coin ever minted -photos and descriptions, varieties, mintage figures, values. It describes the minting process and the difference between business strikes and proof coins.

Very good advice from Klaatu.
Once you really get into the hobby, you might also consider the Blue Book, also by Yeoman. The Red Book's prices are estimates of what you might pay a coin dealer for a specific coin, whereas the Blue Book has pricing for you to estimate what price you might get for coins you would like to sell to a dealer.
The Blue Book's pictures and descriptions are definitely inferior to those of the Red Book. By all means, get the Red Book first!
Happy hunting,
Bob

 

[Pimp Lenin]

Years ago I use to collect coins, but then went on to other interests. However, in the last year or so, my desire to resume collecting has been fired up. This hobby is most affordable if you shop around, unless you looking for the really high-end, rare stuff. I never had anything of great value, but I enjoyed the history. Coins are a very tangible piece of history. I would look at the coins and wonder whose hands they passed through, where had they been spent, what was bought with them, etc.

 

[Diggincoinz]

Well... my thought is having our kids understand the age and history.

Starting out with them knowing that they are already 11 & 12 yrs old. Then tell them how old you are! That'll help them to start appreciate older things and the need to protect and take care of the older things!

Then once you dig up a 1800's coin and show them that, they'll really appreciate the history and value with a completely differant point of view (at your expense of course)!

"Holy cow Mom, that's even older than you!"




Chris

 

[goldinmypan]

For a cheep way to start, go up to the coin roll hunting forum above. You can get a lot of coins at face value, keep some and sell the rest back to the bank at no loss. This is a great thing for kids because they can go thru a lot of coins and once you show them what to look for they will have a blast. Also with their good eyes you can give them the penny and dime rolls and you can do the halves. Once you get all the recent years saved then you can start looking for other sources to fill the gaps.

 

[j2fun4u]

Redbook and I started with a penny and nickel collection. They are inexpensive and they can be found in pocket change still......