I used to collect pennies as a youth, but more recently went back to more serious collecting. Because there are so many newcomers like myself, I thought I would share the basics I almost forgot. Whether it’s for fun, investing, or profit, you need to know what you are doing. Assuming that you are seeking individual already-minted US silver or gold coins, the following applies. The value of a coin is determined by it’s (1) rarity i.e. the number of coins minted and (2) it’s condition. When buying a coin, consider how the condition was decided. If it’s the owner’s opinion, beware. That can be very subjective. That’s why you should choose coins that have already been graded by a reputable service. Use only first-tier, or national recognized agencies.
I’ve learned that credit card debt is all the same. Expensive. You may earn points from the purchase, but that doesn’t come close to what you’ll pay in double digit interest.
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As you advance in coin collecting, the condition of the coin will be added to this description. The above example could have been 1970-D Washington Quarter Mint State 66. I’ll cover the grades and codition of “>coin dealer Jamestown. The online sales almost always charge higher prices for those purchases than check or wire transfer.
The third type of value is referred to the numismatic value or the collectors’ value. This value is different from the face or metal value in that it is derived by a coins uniqueness and value to other coin collectors. Some examples of these types of coins are the Buffalo Head nickel and the Liberty Head Nickel.
There are many silver dealers out there, so scout carefully so you don’t buy fake or valueless silver. There are companies specifically interested in selling you silver. If you are unsure, find a good dealer or financial advisor to help you through.
Coin cleaner is a great gift for someone who collects coins. You can get a special gentle coin cleaner for the person to clean their coins with. Coin cleaner works great at cleaning coins and it is something that a coin collector doesn’t necessarily think about having on hand. It is a nice inexpensive present to give a coin collector that can also be appreciated.