| #ffffff;" /> | | | | coins is low. Coins in circulation get nicked, |
| The first known coin collector was Petrarch, who | | | | scratched and otherwise worn. To have a |
| lived way back in the 15th century. A century | | | | collection that will increase in value over time, a |
| later, Hubert Goltz visited a number of coin | | | | collector should consider uncirculated mint coins. |
| collectors throughout Europe and estimated that | | | | These are generally available when a coin is first |
| were approximately 960 collections in total. | | | | released and are not worn in any way. Their value |
| Numismatics gradually became a favorite hobby | | | | is higher than coins in circulation. |
| of royalty. Francis I of Austria wrote about his | | | | Coins issued in different metals than the regular |
| collection of gold coins in 1756. The British Museum | | | | issues are also collectible. Prior to World War Two, |
| established one of the first coin catalogues. From | | | | pennies were minted in copper. When copper was |
| this have emerged more than 100 publications | | | | needed in America’s war industries and |
| devoted to coin collecting. | | | | could not be spared for coinage, the government |
| Today the word coin refers to standard issue, | | | | authorized the use of steel to produce pennies. |
| commemorative or presentation pieces duly | | | | After the war, copper was again used to produce |
| authorized by the federal mint. This excludes coins | | | | pennies, enhancing the value of the steel pennies. |
| privately minted coins. The most common | | | | Today, it costs more than a penny of copper to |
| substances used in making coins are gold, silver, | | | | make a penny. |
| copper and nickel. Alloys, such as copper and | | | | Congress is exploring the use of other metals to |
| nickel, are also used to produce coins, such as the | | | | make pennies. Should this occur, the last copper |
| US 25 cent piece, that are less expensive to | | | | pennies would increase in value, as would the new |
| produce than single metal coins. | | | | pennies. Design changes can also affect the value |
| There are many different types of coins for | | | | of a penny. For many years, pennies with wheat |
| collecting. One can collect a specific denomination | | | | designs on the reverse side were issued. The |
| by date of issue, country of issue, mink mark, | | | | design was changed, thus increasing the value of |
| proof sets, uncirculated condition, metal content, | | | | the old design. A word of caution: all coin values |
| design or mint errors. It is ultimately up to the | | | | are based upon the availability of the coins and |
| collector to decide what to collect. | | | | their condition. Coins that are readily available or |
| Once the collector has decided on which area to | | | | worn may increase in value over time, but not as |
| collect, it’s time to get started. One area | | | | much as mint, uncirculated varieties. |
| that is common today is the US state quarter. | | | | There are many places that a coin collector can |
| They are found frequently in pocket change. | | | | go to find coins. There are coin clubs, dealers, |
| Commercial booklets are available to store the | | | | online and on television auction sites, and even |
| quarters. If a collector just wants all 50 state | | | | companies that specialize in mail order purchases. |
| quarters, they are relatively easy to find. Because | | | | You don’t have to be rich to be a coin |
| so many have been issued, the value of circulated | | | | collector. |