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Collecting Old Coins: How To Begin This Fascinating Hobby

by Daniel Wright

You may be tossing around the idea of starting a coin collection, but you're just not sure where to begin. This article will hopefully steer you in the right direction of how to get started. When deciding on where to begin and what to base your collection on, it all depends on your personal preference. Do you enjoy gold, silver or bronze? Are you wanting really old coins? From what time period? Below is a list of things to consider when you are asking yourself those questions:

Period of time or era.

Coin collectors who see their old US coins as an investment would probably prefer coins that are older than their grandfathers. The more ancient the coin, the better. Aside from being centuries old like the CC coins (from the Carson City mint), there are also Revolutionary coins and those that came from other interesting times in U.S. history.

Type of Metal

If you're a beginner, you wouldn't want to start collecting silver or gold coins for these are the kinds of coins that can bore a hold inside your wallet. Better settle with the lower metal levels first such as Copper or Nickel. That is, unless money is no object.

Minutiae and determining condition.

A novice numismatist will recognize right away that what you can see etched on a coin is the most important factor. The clearer the details, the better the grade level and the rarer the coin is. This also makes it worth more. Pick up a well reviewed volume on how to grade that includes snapshots which allow you to make comparisons with the coins graded on the manual's pages. After a while you will begin to know how to grade just by looking and it will be unnecessary to consult your guide each time. Newer coins are designed using the older patterns so they'll all look nearly identical. Some grading elements are: the degree of wear on feathers or robe pleats, whether flattened or still easy to make out or even totally clear. Can you read all the text or is it impossible to tell what any of the letters are?

Toning

Although coins should not be cleaned, there is a process called toning which may increase the value of a coin. This is especially true of silver coins. One reason for this is that it can make it easier to see detail on the coin. The bottom line is if toning enhances the look of the coin, it is a good thing.

Cleaning scuffs and bag markings.

Many so-called bargain coins are not really bargains at all. They are usually in poor condition from circulation and a serious collector would not be interested. They may have been further damaged by the seller in an attempt to clean them up for sale. He may have used a harsh chemical to remove tarnish and add shine. Anything that removes tarnish also removes some metal. Some scratching is acceptable and expected from circulation but beware of chemical scarring. Another common defect is bag marks. These are caused when the coins are jostled together in bags. Make sure the coins you collect are as free from defects as possible.

These tips will get you well on your way to building a high-quality coin collection that will continue to appreciate in value through your lifetime. And that's another plus--this is a hobby that you can carry with you al your life! If you need to sell them in your later years, they can bring a nice sum. If you are able, leave them as an inheritance for your family members. The coins will become a family heirloom for which you will always be remembered.

Learn more about old coins at the net's premiere rare coin site, US-Rare-Coins.net. If you're interest is old US coins and CC coins, we have it all including a video section showcasing lots of old coins!

Published November 10th, 2008

Filed in Hobby