Coin Collecting 101 - Master The Art Of Coin Collecting: Essential Tips
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- čas přidán 28. 05. 2024
- This brief introduction for the beginner stresses the importance of deciding how to collect so that you can collect intelligently and derive the maximum amount of thrill from the hobby. Specific coin types are mentioned to help you focus on your collecting interests.
Hello, my name is Rod Gillis, Education Director at the American Numismatic Association. If you're new to collecting, I'd like to spend a few moments talking with you about perhaps the most important decision in your collecting career-how to collect. One aspect I particularly enjoy about my job is engaging with people who introduce me to innovative ways of collecting. Some collect United States coins, while others focus on world coins. Some collect coins from places they've visited or coins from the year of their birth. There are also collectors of stock certificates and paper money, whether it features a horse or the color purple. The possibilities in collecting are only limited by the money in your wallet and your imagination.
The two most popular methods of collecting are by type and by set. Collecting by type involves seeking the finest example of a specific coin denomination, such as barber half dollars, Liberty seated half dollars, or Walking Liberty half dollars. On the other hand, collecting by set is the most prevalent approach, where collectors aim to acquire all the years and mint variations of a particular coin.
While collecting by set is rewarding, I advise newcomers to start with a less challenging set to gain experience before tackling more difficult ones. For instance, assembling a set of Jefferson nickels or Roosevelt dimes is an easily accomplished and cost-effective way to begin your collecting journey. Avoid the temptation to start with a challenging set like Morgan Dollars, as it can lead to financial challenges and discourage new collectors.
If you seek a set with more appeal, consider assembling a collection of Franklin half dollars, all made of silver and no longer found in circulation. This allows for a satisfying collecting experience without a significant financial commitment.
I hope this information is helpful, and I encourage you to enjoy your hobby. Thank you for considering the American Numismatic Association as a resource for your collecting journey.
www.money.org
I collect coins simply for their sentimental value, or any unique story surrounding the particular coin. Like, I have a simple Philippine peso (2010) that I took a liking to because it's the only coin that's known to have survived a house fire in my neighborhood. The owners forgot to turn the stove off, and that ignited a fire that lasted for more than five hours, setting other homes aflame too. When they finally got the situation under control, almost nothing was left of the original house... nothing except for this one peso, and I think that's pretty cool.
My Dad recently gave me the small coin collection he started and I will be expanding this collection to pass it on to my daughter some day. This video was very helpful, thank you.
I’m 17 and, while it may be simple minded, I collect all coins that are or going to be at least 50 years old at the end of the current decade. The rarest I have is a silver dollar from 1879. It was given to me by my Grandma after my Grandpa’s passing. Even if it does damage or scratch it I keep it on my keychain. It is a good way to make sure I don’t loose my keys though.
When I was about 12 yo. I got ahold of a 1914 'd' penny. I knew it was worth some money because of one I had seen in a display in a window. So I get some basso and shine the hell out of . I took it to the coin shop and expected to get $36. for it. That's when I found out you don't clean coins. This was about 1954.
Ronald you should sell your birth certificate as it's probably worth more than your coins ? ?
@@allmind974 ass hole
When we are young and not as wise as we thought we were we do some things we later regret. I messed up a lot of coins when I was a kid and later when I got into the business I messed up a lot fewer, having learned from my youth.
Just wonderful, I have been researching "coin collecting for dummies" for a while now, and I think this has helped. Have you heard people talk about - Wonenry Sonucas Approach - (just google it ) ? Ive heard some extraordinary things about it and my neighbour got amazing success with it.
Ouch
The problem with collecting PCGS graded coins is that it is easy to become a label collector instead of a coin collector.
Excellent information! I love this hobby so much!! It's money that I can pass down to the next generation. I can get my "spending fix" and "saving fix" with each old silver coin that buy. I'm a first generation coin collector and plan on collecting until the day that I die. My plan is to have an absolutely massive hoard of coins to pass down to my daughter :)
One of the easiest sets for beginners in my opinion is the state quarter set, as it's a newer set and is very straight forward.
Very Instructive, Thanks and Bravo !
Thank you dear. I am trying to study error penny's at the moment
However all the coin men are helping. God bless
I started collecting Coins after I bought 3 proof sets for $10 dollars. I am a history nerd so coin collecting makes sense
American Patriot in Colorado Same. History, Geography, and anything old.
Knowing history doesn't make one a nerd.
I am collecting unusual foreign coins and US Walking Liberty Half Dollars. I have one of those brown Dansco albums that I enjoy filling in different dates and mint marks and conditions. I should tell you that I downloaded this Video of Mr. Gillis and am using it in a Web Development course I am taking. I put the audio portion on my website assignment. We are not publishing the websites but I am putting a reference to your CZcams channel.
I started collecting today, we had an old stash of coins filled with mostly silver. Lots of Morgan dollars, walking liberties, Washington quarters, etc.
Lucky start!!!! Very Lucky!!!
I just started this Summer!:)
Welcome!
Thanks! BTW are aphganistan coins worth anything? sorry I cant spell!
Hi i have started collecting for about 2 years
Duh_Its_Ava_ Marie Hi Ava, personally I don't know a lot about Afghanistan coins, but I would recommend getting the Standard Catalog for World Coins. Also reading lot of books on Afghanistan coins and doing plenty of research will do nothing but benefit you. Hope this helps. Happy collecting
I appreciate very much the advice to go for the more valuable dates. Just started these past few months and it is easier to go after the more common dates than say 2012 silver proof set. However, I feel I have some realistic goals - and although a little ambitious not overly so. I just have trouble staying focused. But for now it is to buy a silver proof set every year, a Native American Dollar enhanced uncirculated one with the Coin and Currency set when offered and at least the American Innovation Proof dollars for the whole run (and when possible a few Rv Proof). A longer term goal is to collect all the Native American coins - but proofs and the years offered enhanced uncirculated. So this can be done since I also want silver sets between 2009 and 2018 to purchase silver sets. from those years as well as the present year. SO far have 2009, 2018 and 2019 and planning to get 2020 silver sets. Have 2019 coin and currency for Native American dollar.
The main problem is distractions - there are so many offerings in the past 20 years in addition to classic coins that one can be tempted to stray. For example, although I am happy I got them I know the money could have been put toward getting an older silver proof set or a few older coin and currency sets. Those items I got were the 2004 and 2005 nickels PDS and 2012 clad proof quarters and 2016 silver proof quarters. Good coins and wonderful to look at and study but I could have gotten a 2015 and 2016 native American coin and currency set or put that money aside toward buying a 2012 silver proof set (those are highly sought after and I think somewhat overpriced - possibly one reason I am hesitant to go for that one first).
Anyway, I also found that even with a type of coin as recent as Native American dollars or Innovation Dollars, it can be quite costly to get all mints issued for that year. The US Mint offers these coins in circulated quality from Philly and Denver mint and to buy those would mean adding 6 -7 rolls of coins or buying these individually from the secondary market. What helps me NOT to be too tempted is another piece of advice implied in this video - SET A BUDGET. So I figure a minimum each year is two silver proof sets, one AI proof set and one coin and currency set. Should run 200 - 253 per year.
But I share this to illustrate the commentators advice - getting the Native American dollars which began in 2009 seems doable and it is but not as easy as getting nickels or dimes because these are not in circulation to the general public --- only US Mint or secondary market.
Just shared this video on my blog. Good info for beginners. When I first began collecting on my own (originally started collecting from circulation with my mother) I paid way too much for a 1982 proof set - something like $20 when it should have been $5. So, I appreciate good info and do my best to pass it along, as well.
hi..
Excellent information === 10 STAR video / presentation. Thank you.
im collecting arcade token from around the word :)
That's really cool and I might do that too!
Hey I've got a few! Plus a bit of postage
Like. I could send them. If you wanted. to a P.O.Box. Cineplex tokens
That's awesome.
I'm sitting here as a new collector listening to Rod literally describe me and everything I've done up to this point the last 6 months. Lol. Oh well, I'm not a completionist, I won't be too upset if I never complete my set of Morgans.
My favourite coin is the coin of my birth year. And there is something special about it. I am from Singapore, and in the year 1986, there are no minted 1 dollar coins. Because the government was implementing a new series of coins only in the year 1987. So in 1986, there was a gap of minted coins. I managed to get hold of an uncirculated coin set for 1986 :). Made me realise there is something special about my birth year
well informative presentation!!!!
Excellent video. Very informative and interesting. Definitely put Like
Excellent presentation. Thanks for sharing your insight!
Excellent information and thank you so much for sharing!!
I half heartedly started a set of Morgan Dollars fully realizing I would never complete it. However, I obtained some important CC's and Morgans in various MS and PL conditions, including a DMPL. I stopped when the going got tough and actually sold off some of my set. I still have some nice examples of Morgan Dollars I have kept plus tubes of them in average VG-AU condition.
2:23 I'd never expect those words to be said.
I'm new for coin hunters. And collected any different kinds of coin..but Thanks for your information two thumbs up....
Thank you Mr. Gillis for your help.
Thanks Rod. Good advice on getting the most expensive coin in the set first. I am from Australia and want to collect pre-decimal sixpences from the Elizabeth II period
I have been collecting for just the last decade. I have fallen for the American half dollars, 64 Kennedy is my favourite, but i decided to collect morgans, peace and liberty dollars because i find them simply stunning coins. Collectors should collect the coins they love the most, that's where the joy comes in.
Good luck! Make sure you have a well paying job to complete those sets!
Great video! I personally collect coins of the same year I was born and from places that I have traveled to. World coins are the best :)
myself I only collect by grade no low grade coin I've learned by being ripped off when I was younger it definitely takes time to learn sometimes you gotta learn on your own great info sir.
Enjoyed the video and have to agree with everything said.
I just started collecting and what I really enjoy collecting is Coal and lumber company scrip. I have a few regular banknotes from other countries but something about company scrip and the history of it. I really busy enjoy it. Especially cutouts you see on some pieces that make them unique.
Thank you for the great advice. Nice video.
Metal Detecting : Beginner to Beginner b moedas comemorativas no Brasil vestiti moedas
Great video! Thank you
Wow. I enjoyed this video so much, that was the fastest 6 minutes of my life. lol. I am starting to get into silver and want to look into collecting coins and I'm hearing so much terminology I need to learn BUT I do know this much, it seems like if I do start coin hunting, I will enjoy it.
Nice job, Rod!
Excellent tips!
According to the US Coin 2020 guide it is worth no less than $3 and as much as $65
thanks for sharing, friend
What a nice idea this person gave us
When I started I chose to start with pennies, I ended up getting stuck on the more semi to key dates. So I put the set aside and focused on more obtainable sets like the Dime and Jefferson Nickel sets. While still slowly adding to my penny set
Jeffrey Davis I do the same but if I find anything unusual I set it aside like buffalos,old Canadians,indian heads stuff like that I ordered a box of halves today but I don't really care about completing a set I have most of the wheats done beside about 15 that are hard to find but I figure I will find them eventuality
I kinda go by Type/Content...
I like collecting Silver coins, and will really take any coin that's silver for the rolls, but I do have a smaller collection off to the side with 'Nice' coins from each type I collect, some are silver, some are clad, I just think they're nice and it varies from Pennies, Nickels, Dimes, Quarters, Halves, Small & Large Dollars all the way to Silver Eagle bullion coins that are technically still a dollar face...
Like I'll spend good money on a nice BU Walker Half, but prefer 95% of the time to hunt change rolls from the bank or go down to a coin shop and see what piece of history I can pull from circulation because I have a motto to my collecting: 'Keep pieces of history out of the hands of the treasury' especially in regards to my old, no longer in circulation, but still legal tender bills...
Great lecture, thank You.
Great info man! Keep it up
your videos is the best
Thank you for posting this very informative video! It's great information for those fairly new to the world of coin collecting! I have been officially collecting for about 1/2 year now and I have found a Lincoln penny with what I believe to be clash errors on the reverse that create what looks to be a second Lincoln in one of the Memorial bays! There is a head and legs that clearly happened during the strike and a torso that is there which I am not sure what type of error this is (the torso). Upon further examination, I found two other 'Lincoln heads' on the same reverse of this coin - one of the outside of the Memorial and one in another bay within the Memorial. With the history of our former Founding father I thought this coin might be particularly interesting! I have affectionately titled this specimen, the "GHOST OF LINCOLN" cent! Any suggestions?
You didn't mention collecting Lincoln pennies... this is how I started... hunting pennie rolls... TOO much fun. I agree on nickles as I hunt those as well. The other denominations are next year when I can afford them. Thanks for the informative videos
Great info
This is the best advice I heard..
Good video ..subscribed
Peronally, I think that the key to success in this hobby is to never have an expectation and not give a damn about sets and artificially imposed prices. I personally collect any type of coin/paper money I can get my hands on, mostly on my travels, and I'll never spend any money on them, except maybe for something I'll hardly ever going to get by myseld.
Of course, uncirculated coins are pretty, but I prefer circulated ones, because each of them is somewhat unique and has a story to tell, that's why I particularly enjoy ancient coins, even if they have little value. I once found a very worn zinc reichsenpenny, I was amazed by it, even though I've found out it was worth 0.5€, I consider it one of the most interesting pieces of my collection, even more than silver coins worth 20 times more.
This way, having no set to complete and no ultimate goal, I think my edpectations will never be let down (I don't have any!) and I can find a lot of enjoyment without spending a fortune
Money in your wallet, and the imagination you have! Best quote ever for coin collecting
Thank you good info!
A good set to get Now in 2023 would be the American Innovation $1 Coins ! As they are NIFCs & most are low mintage. Or the Native American Series!! Which has some beautiful coins. These can be gotten at banks and credit unions, sometimes! JJ
Question???
Is it necessary to use cotton gloves when the coin is in a capsule ?
Does finger handling harm coins like Silver Eagles shipped 20 in a tube?
Can alcohol wipes clean graded coins from finger handling with out harm?
Bill Rundell For your first question, if you have a silver eagle or any collectable coin, I would recommend using cotton gloves when handling coins of that nature because your oils from your hand will tarnish the coin and the grading of it will go down!
The second question you stated about finger handling silver eagles from a tube (without cotton gloves) is yes! You will tarnish the coins with your bare hands!
To answer your third question, rule of thumb when it comes to cleaning coins is this; Never clean any coins! Alcohol will damage the coin as well as white distilled vinegar, baking soda, soapy luke-warm water. Do not clean any coins for any reason!
Started yesterday
good luck!
Good advise!
Hi I have a 1979 Susan B Anthony I believe it's an error coin brush polished on one side of the coin but not on the other it looks like mint damage not aftera left the mint still in pristine condition but have no information on it looking for help to see how much it's worth
cool video
is INB (international numismatic bureau ) a good company to buy from or invest in, im from Canada.
hi i have a few rare coins but dont know the value can you help .im from dominican republic
i just got done with my sports card and now am moving to coins i have 2 wheat back pennies and a morgan silver dollar which coin is easy to find on a low low budget
I have a 1977 penny that weighs 2.5 instead of 3.1 and a 1958 penny that does not have a wheat reverse. Are these coins consider errors and are they worth big money?
i started about last year a week before Thanksgiving my collection went from President dollar to morgan and peace dollars and others
The America the Beautiful quarters are a series of 25-cents quarters, issued by the United States Mint, starting in 2010 and scheduled to continue until at least 2021, but the series may be extended at the option of The Secretary of the Treasury, potentially extending the series to 2033, and after that, i wonder what new quarters will keep coming out.
Bugsbunny48 Who knows! Very exciting stuff to think about!
ALWAY buy the must expensiv ones first - / that is the key to ending good set.
Unless, of course, you're really lucky and happen to stumble apon some of the more rarer types for either cheap or from someone else's collection or roll hunting.
I found a 1977 Washington quarter double dice in most of the side of the eagle how valuable it is??? Anyone could help??
Also have a 1942 penny they say online it's worse a little but I don't know if it's the right year can someone help me out
I’m lucky enough that both my grandfathers gave their coin collections to me. I’m gonna do the same thing to one of my kids or their kids. Whoever is in to it.
Needing advice on first gold coin. I'm looking at a couple of tenth oz eagles or maybe one 1/4 oz eagle? Any thoughts ? Thanks
RelicHunter Tenth oz gold coins are a good choice if you're starting out with new coins, That can run from American Eagles to Canadian Maples to Australian Kangaroos as well as Chinese Pandas, The Austrian Philharmonic and others,
One thing to remember is that American Eagles and South African Krugerands are 22 Karat Gold (Eagles have some silver and copper in them as well as Gold) and Canadian Maples, Australian Kangaroos and some other World coins are pure 24 Karat Gold 9.999.
There's really no price difference in Gold prices on the market though between Eagles Krugerands Maples and other coins.
I've branched out recently from newer Gold coins into older ones though, such as the Liberty dollar from 1850 XF-40
and the Indian Princess Type III Princess Head dollar from 1856 AU-50.
If you have an interest in history they're well worth looking at and lower grade ones can be a good bargain.
Happy hunting.
@@cha5 I think the krugers weigh a couple of grams more than the 24k ones so the actual amount of gold in them are the same.hence why there isn't really any difference in there prices.
You will pay a little bit more premium on quarters but I'd say buy them, unless you have the funds to go straight for a 1oz, dont rush in and think your getting a bargain for a limited produced coin that will cost you considerably more,, gold is gold, kugers, eagles, maples would be a good start.
i staryed collecting half dollars and im trying to complete my set of presidential dollar coins
Ajgthecreator good luck
I started by Peace Dollars, I chose a bad start, though I have most of them
I know this comment was 3 years ago but did you complete it yet?
@@ewadess9148 No i did not ,they came to a point where they started becoming really hard to find😂
@@adamgulley1399 wow I can't believe how fast u replied lol. I just recently discovered that there were presidential dollar coins. I collected dollar coins but never really realized that they were different presidents. I have like 5-10 different ones.
Good day, I have in my possession a 1983 quarter dollar coin where the letter P-D etc. is crossed out from the origin, and could you tell me its value. attached photos. Thank you so much
Well said. Dave16 was here. 8-23-2019
How do I find out all coins in a set
I got a 1899 Indian head penny, do u know the value of it?
If you want to know the value of a coin you ask a trusted dealer or research it.
Depends on the shape it's in and if it's of a particular variety of that date. Next time you're at a book store find a magazine/manual for coin collecting and it will give you a rough idea. Thing is----unless it's a very rare date (and an 1899 indian head is not) you probably won't be able to sell it for anymore than 20-30% of it's quoted "value."
Roger Rampersad it's not worth anything it's worth 2.00 at the coin store
Roger Rampersad Has
Depends mainly on the estimated MS (Mint State). If it is proof or Mint, you got yourself a jackpot.
Want to collect world coins. I want to start with Trinidad and Tobago because I play the steelpan and I love the history of it. I know the 50 cent piece has a engraving of them on it but how much are they worth? I also want to collect paper money, and money from biblical historical times.
hi i m dp singh i have 1818 yrs old coin plz contact me my number 8910030747
Hi sir u whatsapp me +919824314270
I am rare coins collectable
8437566685
Criss I have a Jesus pound note from the holy Land and a holy Mary shillin , I,ll let you know how to get some ! ?
I have 1808 coin my number 7993041301
I have a set of Presidential Silver Dollars and many American coins. Such as 2005 appeared Bison Nickel. I also have a 1934 Mercury Dime. I am trying to get all Commemorative Quarters and Morgan Silver Dollars.
I'm trying to complete Peace Dollars and Eisenhower Dollars!
I recently came across a ton of old coin collections, I do not and will never collect coins (just not interested) for example I have (all but 5 coins) which are wheat pennies from 1909 to 1940 from both mints, I have a ton of Indian head pennies and nickels, I also have a bunch of liberty dimes and several liberty half dollars and a bunch of Morgan dollars. I also have a set of old Japanese coins (missing the last one in the set). I do not know what they are worth nor what to really do with them. I also have a ton of mint $1 and $2 from the early 1950's never used. (not collecting those either) any suggestions?
Ive got a few 72 and 1999 pennys also some kind of foren coin how can i find out its worth
Jenny Feliscian a little bit of research, and going to a local coin shop, they'll tell you what you have
Heeft u problemen met Engels?
Met de icoontjes voor ondertiteling en instellingen (rechts onderin beeld) kunt u Nederlandstalige ondertitels instellen.
Are Eisenhower coins worth anything?
Hey I'm a noob to collecting and I want to buy a gold set around 3K, what do you recommend, I was looking at the Liberty Eagle Gold Coin Set 1/10,1/4,1/2,1oz
Hi im ochie having Roosevelt dime cion 1965 with a price of 9k txt me 09229418602
$ 9,000 of dime coin of Roosevelt 1965
I'm probably mistaken, but wasn't there U.S dimes with Eisenhower on them.
Eisenhower was on $1 coins. Roosevelt is on the dime. Before Roosevelt dimes were the mercury dimes.
Brother I am Md. Mustafa Mia I am from Bangladesh I want to talk to you about this coin I have many coins how to send this coin
😍
is a 2000D Penny with a stamp of CT above the date worth anything?
1¢
The CT stamp is not done by the mint
What I was told collect what you like to collect I been coin collecting for around 10 years when I first started I wanted the bullion bars and gold after a while that got to be pricey so now I am putting a Kennedy set together and a Jefferson nickel set after the gold fever wore off
Would a good set to start out with be US state quarters?
Potassium That's how I started!
Yes. State quarters are easy to come by in all conditions in circulation and are cheap to buy online.
interesting +1 subscription and the other, the coins go rarely, mostly looking for rarities WWII
I'm more interested in researching coin collecting than actual collecting. I'm not opposed to having a small collection, but coin collecting is probably like collecting 78rpm records: all the choice stuff has been snatched up before you were born and now circulates in closed trade circuits for premium prices and therefore you're too late to the party to justify getting into it without a private fortune to dedicate to it.
But I did used to have a preference for Mercury Head dimes when I was about 8 or 9.
thanks
Can I go into my bank with a dollar and exchange it for a couple rolls of new pennies?
Yes
I have a losing lottery ticket collection. It grows weekly.
Would collecting pennies from 1909 to present be a good idea
RyanThe Slayer yes, but do keep in mind, there are a bunch of key dates and semi key dates that can range anywhere from $10-$1000
RyanThe Slayer it's a difficult task, the hunt will take a good bit of time and work. I'm still having trouble finding my collection.. the best of luck my friend
Absolutely
Is it common to find a quarter with a P mint mark?
Yes. Coins are minted in three locations and P=Philadelphia.
*Certain years for certain coins are very rare and collectible.
New sub here 👍
I started last summer my collection has now grown to over 153 coins
Tx_Coins_Houston awesome job! I prefer quality over quantity though.
Jeffrey Davis Me too! I mainly collect proofs but now I’ve grown to collecting really old coins. My oldest I have is a 1848 large cent.
I want to start out with three cent nickels as a beginner. I love the odd denominations we use to have. Is this a stupid thing to start out collecting.
Chris Garner no, I say go for it! I love my nickel 3-cent collection. All the dates are fairly easy to obtain cheap, but there are a couple key dates and varieties to keep in mind. Do a lot of research before you buy each coin
Does anyone know what my 1878 AU Indian Head Penny's worth?