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