Although huge amounts of money can be invested in collecting some types of American coins, It is possible to have a load of fun collecting coins without really investing much money at all. I don't have much money invested in our little coin collections, including those that belong to my kids. In my opinion it's really not necessary. We don't do it as an investment or anything - its really just a family activity. The kids get a big kick out of it. When I was a kid, you could sort through pocket change and find coins minted in the teens and twenties. Now days you have to buy bags of wheat cents. Not to worry, they are fairly inexpensive. When I brought the first bags of wheat backed Lincoln pennies home, I didn't know if the kids would be interested, but they dove in and really had fun. It was like a treasure hunt and the blue Whitman collection folders, like I bought for children, are almost exactly the same as when I was collecting coins as a kid. We have also collected and sorted through old nickels, both Jefferson and Indian Head or buffalo nickels. I especially like those Buffalo nickels myself, but with all the Washington "statehood" quarters, there is a lot of interest in Washington quarters as well.
Collecting coins that are a century or more old gives one a special feel for the history of our nation. You wonder about the history these heavily worn coins have seen. These old coins also say so much about our nation, honoring Liberty and freedom above all. In the same way, today's politically correct coins which exclusively promote the politicians of the past tell of the foibles of our own modern USA (what subject could possibly be more dear to our self-absorbed and narcissistic federal politicians when they are trying to decide what should appear on our coins than the aggrandizement of politicians like themselves).
There are many types of coins to collect: error coin collecting, ancient coin collecting, international coin collecting, silver coin collecting - there are just so many ways to approach it that its hard to count them all. There really is no right and wrong way to collect coins, in spite of what many so called experts say. You have to decide what your goal is. Do you want to have a family hobby? Well, inexpensive wheat cents are an easy way to get started. Do you want to invest significant money in coins hoping that they will go up in price? Investment guides want you to buy the very highest grades of uncirculated coins, but sometimes regular old circulated coins appreciate significantly in price as well (circulated means the coin has some signs of wear – and sometimes a lot of wear). I have certainly seen the prices of the circulated buffalo nickels I purchase go up steeply in price over the last five years. In the end, its all up to you! I recommend that you buy the coins you like.
If you would like to see some of the coins the author collects and learn more about family coin collecting, take a look at the author’s website: http://nevada-outback-gems.com/coin_collecting/Family_coin_collecting.htm
For information about investing in gold or silver coins and other bullion products, take a look at the author’s website: http://nevada-outback-gems.com/gold_invest/investing_gold_vehicles.htm
Chris Ralph writes on small scale mining and prospecting for the ICMJ Mining Journal. He has a Mining Engineering degree from the Mackay School of Mines and currently works as an Environmental Engineer. He owns 3 Nevada turquoise mines and markets his own line of jewelry. His jewelry and information site can be seen at:
http://nevada-outback-gems.com
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