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Coin Collecting Creates Your Own Historical Museum

August 18, 2010 by  
Filed under Silver Coins

Want to build a valuable legacy over time?  Try looking in old homes, under that old dresser, or up in the attic where great grandma kept her things patiently waiting for you to unearth them.  It is not unlikely to find old coins there, a rare 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 when great grandmother was collecting them. 

Pennies, Nickels, Dimes & Quarters – Not Really Chump Change If They Are Rare

Ever find a silver looking penny? A shortage of copper during the year 1943 forced the government to mint all pennies at that time using steel. Because the copper was being used for bullet casings and electrical wire, steel pennies were circulated for three years, but if you find them now, snatch them for your collection.
A few Lincoln pennies 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. Still, three dollars is not exactly something you should sneeze at.

As in all areas of society, coin collecting is also fraught with scams and fraudsters. Be careful not to be one of those gullible coin collectors who 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. Your best bet is to buy coins from reputable dealers and have the coins appraised to ensure you get the best value for your collection.

Coins – Age Makes Them Better

Coins, specifically the silver dollars made and circulated between the years 1878 and 1935, are worth between twelve dollars and twenty five dollars.  Uncirculated coins are worth considerably more. Often, especially today, the silver coins are placed in a plexiglass covering immediately upon being minted to keep them at their highest uncirculated value.

In fact, if you were to have collected one freshly minted silver dollar per month since 1970, you would have accumulated a small fortune today. Silver coins that have been graded by the three major firms in the industry can be worth significantly more than coins that are loose. Many collectors are opting for a steady collection of silver dollars each month as a hedge against inflation, as the coins will just become more valuable as the paper dollar loses value.

Quarters, Dimes & Half Dollars

If you find old quarters, dimes, or half  dollar coins made and circulated prior to 1965, you’ll find that these were usually made out of ninety percent silver! Because of this, they can be worth as much as today’s silver (with an additional premium, albeit small, put on the coin’s face value).

Miscued Means Moolah

A 1972 Lincoln penny on which the date and the letters appear to have been doubled is not a result of too many martinis!  These rare coins are currently worth about sixty dollars in standard circulated condition. The reason for the miscue is that the Philadelphia Mint accidentally misaligned the die used to mint the pennies, causing the portrait of Lincoln to look like it was doubled.  Because eighty thousand of these were circulated before the error was discovered, the value of these coins are incredible. Should you find one in close to perfect condition, you could be looking at close to a million dollars, because these are so rare.

As you can see, coin collecting is like collecting pieces of history and trivia from the past.  The face value of the coins is nothing compared to its worth as a storyteller – pennies, dimes, quarters, half dollars and silver dollars… these coins are often worth more once you have the story that went with it. As you grow a collection, you grow as the historian for your collection, like the curator of your own museum, and your collection just grows in value along with your legacy.

How would you like to get paid for collecting a silver coin each and every month? Edgardo Maynard will teach you everything as you become the collector of uncirculated MS70 graded silver coins that start growing in value before you receive your next monthly coin! Get your silver coins from the same source as Edgardo:

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