Collectible Coins and Paper Money

 
 

What Makes a Coin Collectible?

There is a large variety of collectible coins, spaning modern times back to antiquity. With this in mind you may want to consider focusing on building a collection on one or two types of coins. Popular Collectible coin categories include
 

U.S. coins

Try your hand at collecting a recent commemorative series such as the 50 State Quarters Series. The complete collection includes 50 quarters, with each representing an individual state. Morgan silver dollars (1878-1921) are some of the most widely pursued and desired coins. Some key dates are: 1889-CC, 1892-S, and 1893-S. Liberty Head nickels (1883-1913) or the later Indian Head nickels (1913-1938) are also popular choices with collectors. Or try finding an American three-cent coin, a quarter eagle ($2.50 coin), or eagle ($10 coin). Consider purchasing a double eagle ($20 coin), first minted around the time of the Gold Rush.
 

World coins and ancient coins

Gather coins from a certain country or time period. Inexpensive starter coins include the British half-farthing (1842-1869), which was criticized for being too small a denomination, guilders struck in Germany since the second half of the 14th century, French rooster francs, and Chinese gold pandas. If you want a more historic coin, look for a silver drachma used during the time of Alexander the Great or a silver denarius from the early Roman empire.
 

Particular coins

Focus on coins of a particular denomination or type, such as silver dollars or Washington quarters.
 

Themed coins:

Collect coins of a certain theme, such as animals or vehicles.
 

Error coins

Even mints make mistakes. Find error coins with faulty inscriptions, forms, dates, or designs.
 

Coin Value

When deciding whether you want to add a coin to your collection, you will want to take its value into account. A coin’s value is ultimately determined by demand, availability, condition, and grading.
 

Demand and availability of coins

The demand for a coin can significantly increase its value. A common coin that is highly prized by collectors will have a higher value than a common coin fewer collectors seek. Rare coins have a higher demand than more common older coins as well. For example, some Greek and Roman coins, despite their age, are relatively inexpensive due to their abundance. Also note that the number of coins that were minted does not indicate a coin’s current availability.
 

Coin condition

Just a small difference in the condition of a coin can make an enormous difference in price. Coins that are circulated and used as currency naturally become worn, and uncirculated coins often demand a much higher value than circulated coins. For example, an uncirculated 1913 Buffalo Nickel in mint condition might fetch 10 times as much as a similar circulated coin. Grading services such as NGC, PCGS, ANACS, and ICG evaluate the condition of coins and confirm their authenticity.
 
 
 

Common Coin Terms

Numismatics is the practice of collecting or studying coins, medals, tokens, or other similar items, has its own set of basic terms.
 
Bullion: Bullion coins are issued by the government and are composed of gold, platinum, or other precious metals. The value of bullion coins is usually based upon their metallic content.
Circulation: Coins struck for general use are in circulation.
 
Coin rim: The rim of the coin is the outer edge, which is often raised.
 
Curating: Curating is a method of cleaning that does not harm a coin’s surface.
 
Device: The device is the design. It often features the bust of a person or an eagle.
 
Dies: The metal pieces that imprint the design on the coin are known as dies.
 
Legends: The phrases on the surface of a coin are known as legends or mottoes.
 
Mint: Coins are struck at a mint.
 
Mintage: The number of coins that are struck is the mintage.
 
Obverse: The side of a coin referred to as “heads” is known as the obverse side.
 
Proofs: Proofs are coins that have been struck with a highly polished die and are sold especially to collectors. Cameo proofs are proofs with a frosted appearance. Proof coins are graded Proof 70, Proof 65, Proof 60, and below. Proof is sometimes abbreviated PR or PF.
 
Reverse: The side of a coin referred to as “tails” is known as the reverse side.
 
Third side: The edge of the coin is sometimes called the third side.