| What Coins Should I Collect?
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| | Rule of Serious Coin Collecting.
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| By Robert L Taylor, JD
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| | Obviously, one will be very limited in
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| You should collect what you like and
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| | the years, mints, and varieties available
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| enjoy. This is Your Dream. Design it
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| | from pocket change and bank rolls - both
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| any way you want.
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| | being local in nature. Even if starting
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| Never-the-less, . . . decide on Foreign
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| | with these means of collecting, always
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| coins or US Coins; and Proof or Mint
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| | keep an open mind about other resources.
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| State. If US, then decide upon a
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| | So, a little future insight helps to
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| Denomination: penny, nickel, dime,
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| | decide that better resources will yield
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| quarter, half dollar, dollar or other.
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| | better coin collections. Most
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| Or, decide upon a particular Period in
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| | collections will span a greater range of
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| History, e.g.: Morgan Dollars (Lady
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| | years, than either pocket change or bank
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| Liberty, Following Civil War), Peace
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| | rolls can possibly produce. It is
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| Dollars (Following WWI), War Time Cents
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| | therefore imperative to investigate other
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| (Steel and Shell Casing - WWII), War Time
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| | resources.
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| Nickels (Silver - WWII), Silver quarters
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| | Your Budget will usually determine the
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| and dimes pre 1965; Statehood Quarters;
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| | Grade of coin that you can afford to
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| 20th Century; 19th Century.
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| | collect. MS63-MS65 is an Ideal range for
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| Or decide upon an Historical Figure;
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| | collecting, not only because of the
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| Kennedy Half Dollars (Following his
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| | excellent condition and detail of the
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| death), Lincoln Cents; Washington
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| | coins, greater availability, lower costs,
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| Quarters; Franklin Half Dollars;
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| | and because coins in this range tend to
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| Eisenhower Dollars, Susan B Anthony
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| | Appreciate faster than other Grades.
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| Dollars, Roosevelt Dimes; Sacagawea
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| | There item is very simple, and it has to
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| Dollars. You can also choose Type Sets,
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| | do with the quality of the coin or how
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| Year Sets, Mint Sets, Proof Sets and
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| | much you want to Spend per Coin - for an
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| Decades.
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| | average coin, for an exceptional coin, or
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| The Next Step is to decide upon the
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| | a perfect coin. Your budget will usually
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| Quality of coin you want to collect.
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| | determine this factor, or, how much per
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| Your choices are: a) pocket change; b)
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| | month you can spend (per month?) for your
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| bank rolls; c) US mint and proof rolls
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| | new Investment. Never doubt that Coin
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| and sets (new and used); d) Buy from
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| | Collecting is an Investment. Although
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| Coin Shows and Clubs; e) Buy on the
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| | it is easy to overlook the amount of time
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| Internet; f) Buy from coin dealer; g)
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| | spent on this Endeavor because two of the
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| Buy from coin magazine or ad. Each has
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| | main ingredients are Pleasure and
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| their benefits and advantages. Pocket
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| | Enjoyment. Confucius Say:
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| Change and Bank Rolls provide Circulated
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| | "If you enjoy what you are doing, you
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| coins. The US Mint provides Uncirculated
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| | will never work another day in your
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| "Mint State" and "Proof" coins.
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| | life."
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| The Internet provides the Greatest
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| | Think of it as a Fund. You are trading
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| Selection from private Web Sites, e.g.:
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| | Money for . . . Money that Grows and
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| to the big Auctions like eBay, Yahoo,
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| | Gives Pleasure! Properly attended, this
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| Heritage and TeleTrade. And With the
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| | Fund can quite possibly put someone
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| advent of (free) it becomes very quick
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| | through college.
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| and easy to pay for purchases over the
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| | Lastly, decide whether to collect all of
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| Internet and by Phone.
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| | the coins in your Group including
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| The one thing that is important in all of
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| | varieties and errors or just the Regular
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| the above choices is the Grade of the
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| | Issue Coins. Errors and Varieties can
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| Coin, which is closely related to Value
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| | become extremely expensive and difficult
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| (a topic for another article). But
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| | to find. Most people will avoid them.
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| which leads to the next choice: Buy
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| | This Concept of "Trading Money for Money"
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| Slabbed or Raw? Raw coins are what you
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| | is critically important because most
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| find in pocket change. Slabbed coins are
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| | people shy away from spending a little
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| those that are Professionally Certified
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| | more, just to get the best. And I am
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| and Graded by an Independent Third Party.
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| | talking about the best in quality of
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| The coin is then placed in a "slab",
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| | coin, no matter what the Grade or Price.
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| made of plastic, identified, labeled and
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| | In other words, get a Coin with the
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| sealed. It actually takes 3
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| | Grade it is Supposed to Have. This is
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| Professionals to decide upon the Grade of
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| | the Only way to be sure of the Value of
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| a Coin. If Buying Raw Coins, You need to
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| | the Coin. Spend your Money Wisely. Get
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| Know How to Grade a Coin. Even then,
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| | what you pay for. Until you become a
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| there will be Disputes about the Grade.
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| | Professional at Grading, rely on the
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| When Buying a Slabbed coin, You Know the
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| | Professional Graders. Whether you choose
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| Grade. The Grade Becomes Virtually
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| | to collect Kennedy Proof Half Dollars, or
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| Undisputable! All references to Price
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| | Jefferson Nickels from pocket change,
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| in any resource are Based on Grading,
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| | thanks to the Internet, you will find a
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| which follows the Guidelines set by the
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| | huge selection available, on many
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| ANA American Numismatic Association.
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| | different web sites, to give your Coin
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| Currently, there are only Four Companies
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| | Collecting efforts a boost. Internet
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| that are Recognized for Strictly
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| | Web Sites will Forever Change Coin
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| following these Guidelines: PCGS, NGC,
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| | Collecting! Why? Because Top Quality
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| ICG and ANACS. It is from these
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| | Coins can be easily Bought and Sold by
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| Professionals that one should buy slabbed
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| | any body - since they are Slabbed!
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| coins. Buying Slabbed Coins is the First
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| | Always Know Your Grade!
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