Newbie could use some advice ...

cmeisenzahl

Hello,

I've got a hand ful of old coins from when I was a kid, probably not much of anything worth more than face value. I have some questions I was hoping someone could help me with.

I'd like to grab some coins to keep as a small investment and to use to show my kids and teach them about it. I could see myself dropping maybe $25 or so every month or two. I just grabbed two of the "WESTWARD JOURNEY NICKEL" sets to keep.

1.
What else is out there from the Mint or elsewhere that I should consider in that price range, maybe a little more?


2.
I also like the idea of grabbing a small number of gold or silver coins to keep mostly for the precious metal value. Do any of the half or dollar coins actually have a notable silver content? A friend mentioned 1964 Kennedy 1/2 dollars, anything else?


3.
What half or dollar coins are actually currently being minted? I've pretty much lost track.


4.
Other than the US Mint directly, what dealers are reliable and recommended for this kind of stuff (assuming that question is in bounds on this forum)?




I have no fantasies of getting rich, I just wanted a few to hold onto and if I could recoup my money with a possible small profit some day in the future I'd be happy. I don't have any interest in non-legal tender coins or medals.



Thanks very much in advance for your help, I really appreciate it,


Christopher Meisenzahl
Rochester, NY

c_meisenzahl@yahoo.com

Pennycase

You can pick up really nice examples of older coinage, even from the 1800's that are very nice pieces, you can pick up mint state coins from the early early 1900's for under 40 bucks.... There are a lot of differant ways possible you can go about buying coins, you don't have to be on a big big budget to collect/buy older coinage . Just find a commen dated coin from the 1800's in really nice condition, and you wont have to pay a whole lot, for if you are like me, mintages mean nothing, it's how nice, shiny and fully struck the coin looks

kamehameha00

to the forum! Whatever you do, DO NOT clean them, no matter how tempting it may be to get rid of the tarnish and make it nice and shiny. I've ruined a few good coin when I was a newbie doing this. You will find this forum a very helpful tool, no matter what you decide to collect.

kamehameha00

Pennycase

Oh yeah, on the subject of cleaning, before you buy any older type coins, if you do decide to, I suggest you buy a coin book that describes how to make sure a coin hasn't been cleaned, you can probably find this information online as well, or someone here could even help you. If you ask them.

orie

Buy the Red Book. Learn on Teletrade and Ebay. Do this for three months, then buy a coin. You will pay a very high retail price buying and learning from a dealer.

granddad

Welcome. My advice would be, first of all: never clean a coin, period. Buy a red book for mintage figures and grading guidelines only. Get a greysheet to learn the wholesale values of coins. And stay away from ebay for at least a year. Until you know what you are doing, you will only be burned on ebay.

Louis

Russ

<< <i>I'd like to grab some coins to keep as a small investment >>



Coins are not the best option to use as an investment play. Matter of fact, they're one of the worst unless you REALLY know what you're doing. Most of us don't. Just buy stuff you enjoy.

Russ, NCNE

DorkGirl

If you are just basically looking for silver and gold, then maybe your best bet would be bullion. The American Silver Eagles (ASE) are beautiful coins and don't cost much of a premium over other forms of bullion. The gold pieces are extremely beautiful also. You will just have to pay a small premium over spot prices at a good online dealer like Kitco, or you can buy them all day long on eBay. The advantage of buying these, is that they are legal US tender.

Coin collecting is a hobby. You really have to love the coins you buy, they are not always a good investment. If you fall for a particular series, do your homework. Don't just buy the first coins you see, or you will probably regret it later when you decide to sell. Learning to grade any series is tough at first, that's why bullion is a no brainer, 99% of it is uncirculated.

The best thing you could have done is show up here. There are a whole bunch of very knowledgeable people here who will be more than happy to try to answer your questions. And if you have any way to show us your coins, please do. We love looking at coins, that's why most of us are here. Good luck and enjoy!!!

Myqqy

Dorkgirl mentioned american silver eagles, and they also sell american gold eagles in various sizes. If you want current coins to pass on to kids, or resell later, you can also consider buying proof sets from the mint. They are released every year, come in clad and silver compositions, and look great. And some of the silver proof sets recently have been increasing in value nicely....

islemangu

Welcome, Dont have much to add from the already good information posted here. If not sure what to collect, just hang out here for a while and see what pictures, posts and topics most appeal to you. Also, make use of the search function on these boards. You can find indepth past discussions on just about everything to do with US coins. And lastly... best to stay away from all the other boards here...there are all sorts of shadowy characters just waiting to pounce if you wander out of this light and sunny place

JRocco

<< I'd like to grab some coins to keep as a small investment >>

You mean we are supposed to MAKE MONEY from our coins....hmmmmmmm
All kidding aside, you can go to the U.S. Mint website and pick up some real nice modern coinage.

Coinosaurus

Buy the silver proof sets from the mint. They seem to do pretty good investment wise. Also pretty to look at and fairly cheap.

michael

you should come to the local coin club in rochester ny the rochester numismatic assoc the next meeting is the first thurs of october at 730 pm at the esienhart auditorium on the rochester museum campus on east ave it is in the basement of the eisenhart

you can ask many of your questions

and maybe you want to join the club too


michael

fountainheadgold

Woodwind

Hello and welcome aboard.

To answer question #1, a nice tradition to share with your children is to purchase proof sets or mint sets
annually from the US Mint. Personally I buy two clad proof sets, two mint sets, and one silver proof set with
the intention of passing some of them down to my children, when I have them someday. Assembling a set
of 50 State Quarter Proof sets would be nice too, though the 1999 sets are a bit pricey.

On number 3, the Kennedy Half is still being minted, and the Sacajawea Dollar has been minted since 2000.
Most are available only through the US Mint, but I believe a limited number of Kennedy halves make it to
circulation.

Good luck.

richbeat

Welcome aboard!