Are you looking for a challenging and rewarding new hobby? Consider coin collecting. Coin collecting is a challenging hobby that can last for years or decades. If you’re interested in starting your own coin collection, read on for the five must have coins for any collection, along with tips to get you started.
Why Collect Coins?
Coin collecting began as a hobby more than 2,000 years ago. Today, the passion for learning about, finding, and acquiring antique, vintage, foreign, and rare coins has only increased in popularity. So, why has this one-time pastime of royalty remained so popular? Here are the most common reasons people collect coins.
1. Coin Collecting is a Challenge
The hunt to find a specific coin is enjoyable for collectors. Likewise, the negotiation often involved in the purchase of a coin is an enjoyable activity. From scouring coin shops to pawn shops, to browsing the internet and estate sales, coin collecting is a challenging, and rewarding way to spend time for many people.
2. Coin Collecting is Inherently Educational
For those born with a life-long love of learning, coin collecting is a wonderful way to acquire new knowledge constantly. Learning the history of specific coins, such as where they were made, why they were designed, why the U.S. changed materials of coins and when, all takes you on an incredibly educational journey through history.
3. Collecting Coins Can Pay Off
Some coins are valuable simply because of their precious metal content. Millions of American coins minted before 1965 are inherently valuable because they have high levels of silver content. In addition to the intrinsic value of coins that contain silver and gold, experienced collectors know that rare coins can be sold for a hefty profit.
4. Coin Collections Can Be Passed on Through Generations
Many coin collections have been passed on from generation to generation. Leaving a fascinating and often valuable collection to your children is a unique gift, and legacy to leave.
5. Collecting Coins is a Great Hobby in Retirement
It is well-documented that keeping your mind active is essential post-retirement. Staying curious and continuing to read up on different coins is a terrific way to keep your mind sharp as you age.
6. Coin Collecting Doesn’t Require a Large Time Commitment
Unlike other hobbies or pastimes that have set hours, or require a significant commitment, coin collecting can be done in your spare time. You’re not in a competition, and there are no mandatory hours you need to put into it. Coin collecting can be a hobby you engage in constantly, or occasionally.
7. Coin Collecting is Rewarding
Most people collect coins because they find it rewarding. There is a sense of accomplishment and satisfaction many collectors find in their pursuit. Others find it a wonderful hobby to share with children or grandchildren. Still others find it to be an enjoyable way to spend time in retirement.
Five Coins You Should Add to Your Collection
If you don’t know where to start with your coin collection, you can start with easy to acquire collections online. You can also start collecting a single quarter from each state. There’s no wrong way to begin collecting coins. Here are five coins that are excellent to eventually acquire for your collection.
Morgan Silver Dollar
The San Francisco Mint produced millions of Morgan Silver Dollars from the late 1800s to the early 1900s. These are easy to find coins in multiple variations, though finding one in excellent condition can prove a bit more challenging. Designed by George T. Mason, Morgan dollars were born of to the Bland-Allison Act. The Bland-Allison Act required the United States government to buy enormous quantities of silver specifically for the purpose of creating silver dollars.
The Buffalo Nickel, also known as an Indian Head Nickel, was designed by James Earle Fraser in 1912. The five-cent coin was born of a campaign launched by the U.S. Mint aimed at beautifying coins. Buffalo nickels were minted in San Francisco, Denver, and Philadelphia. They were first entered into circulation in 1913.The coins feature a Native American profile on one side and a buffalo on the reverse. The rarest buffalo nickels feature a three-legged buffalo due to an error at the Denver mint in 1937.
Indian Head Penny
The Indian Head penny was minted at both Philadelphia and San Francisco. Made of copper and nickel, and later copper and tin, they do not contain precious metals such as silver or gold. These pennies were first introduced in 1859. It was designed by James B. Longacre and produced from 1859-1909.
Walking Liberty Half Dollar
The Walking Liberty Half Dollar was designed by Adolph A. Weinman. It features Lady Liberty walking towards the sun on one side, and an eagle sitting on a rock on the reverse side. It was first minted in 1916 and continued to be produced until 1947. The coin was minted at Philadelphia, Denver, and San Francisco. Though it only has a face value of fifty cents, it contains 12.5 grams of fine silver.
Seated Liberty Dollars
The seated liberty design was popular on coins for much of the 19th century. There are a variety of these coins that were minted in values of five cents, ten cents and twenty-five cents. But the silver dollar is the most popular, making a fantastic addition to any coin collection.
Shop for Coins for Your Collection in Covina, West Covina, and Glendora
Covina Coin & Jewelry understands your passion for collecting coins. After all, we have been in the coin business for more than 50 years. Today, we buy and sell rare, unique, foreign, and ancient coins at our shop located on S. Citrus Avenue in Covina. If you’re looking for a unique coin to add to your collection, be sure you stop by our Covina coin shop near Glendora and West Covina. Covina Coin & Jewelry is open Monday through Friday from 10:00 am – 4:00 pm. We are available for appointments on Saturday. To learn more or to schedule a weekend appointment contact us today.