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How Do I Start Collecting Coins?

jfloomis3jfloomis3 Posts: 83 ✭✭
in Precious Metals
I am 16 years old and want to start collecting coins. It seems like a really neat hobby, but the problem is I don't know where to start! I don't have any coins, and certainly don't have the money to buy any ones of any substantial value. Does anyone have any tips or advice on how to start collecting? I don’t want to sound like a beggar, but if there are any coin giveaways or if someone wants to get rid of a few coins, I would really appreciate the chance to start a hobby that I hope serves as a source of enjoyment and comfort throughout my life.

Thanks!

Jimmy L.
Jimmy L.
image
Successful BST transactions with: Tdec1000, lordmarcovan, WTCG, PRoemisch, Hayden, bolivarshagnasty, nibanny, morgan3896, WaterSport

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    BBNBBN Posts: 3,761 ✭✭✭
    Head to the coin forum. This is the metals forum. Find a series you like. The coin forum has tons of coins pictured in threads. See what you like. As a broke 16 year old you could collect wheat pennies out of circulation. Get several rolls of pennies from your bank and search. So far I average about one wheat penny every 2-4 rolls. If you start with a ten dollar bill and get 20 rolls of pennies from the bank you have a good start. Once you look through a roll you can put the pennies back in the roll and exchange them back at the bank for more. Good luck and welcome to the boards.

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
    #8 (and climbing) 1972 Topps Los Angeles Rams Team Set
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    1970SilverArt1970SilverArt Posts: 482 ✭
    Buying books about coin collecting from a book store will help. Gaining knowledge about certain coins that you are interesting in collecting will go a long way in terms of buying what you like and not paying too much for it.

    DISCLAIMER: I am NOT a '70's silver art bar expert but I try my best to play one on the Internet.
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    CoinCoinsCoinCoins Posts: 698 ✭✭✭
    go to a coin shop and buy a sack of wheat pennies and a couple whitman folders. i think that's where everyone starts.... image

    get quarter/dime/nickel, or even penny rolls from the bank and fill up folders. once they're done you'll have a natural itch to go deeper into the hobby.

    pick up a RED BOOK... study it


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    CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭


    << <i>go to a coin shop and buy a sack of wheat pennies and a couple whitman folders. i think that's where everyone starts.... image

    get quarter/dime/nickel, or even penny rolls from the bank and fill up folders. once they're done you'll have a natural itch to go deeper into the hobby.

    pick up a RED BOOK... study it >>



    I gave the exact same advice on the dark side.
    Positive BST transactions: agentjim007, cohodk, CharlieC, Chrischampeon, DRG, 3 x delistamps, djdilliodon, gmherps13, jmski52, Meltdown, Mesquite, 2 x nibanny, themaster, 2 x segoja, Timbuk3, ve3rules, jom, Blackhawk, hchcoin, Relaxn, pitboss, blu62vette, Jfoot13, Jinx86, jfoot13,Ronb

    Successful Trades: Swampboy,
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    stevekstevek Posts: 27,768 ✭✭✭✭✭
    I would say attend a coin show or join a local coin club...there are plenty of lower grade collectible "type coins" that are very interesting in which to start a collection...and buy a "Red Book" about coins for general info and values.
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    morgantypemorgantype Posts: 456
    It is still possible to put together a set of Jefferson Nickels out of circulation!

    This will be a great way for you to get started.

    Have fun!
    Many buy and sell transactions. Let's talk!
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    mhammermanmhammerman Posts: 3,769 ✭✭✭
    All coin shops have a junk bin. The coins aren't junk but they have minimal numismatic value. The junk bin coins are usually well circulated but many times you can find some very interesting coins. I would recommend that you spend a little time picking through a junk bin or two. When you grab a nice Walking Liberty Half, you will instantly appreciate the age and the beauty of the coin. You can get Mercury Dimes, Washington and maybe even a Barber Quarter that are over a hundred years old. Maybe you will find something you like.

    The key to collecting coins is to have a reason to collect. Some folks like to do mint mark and date sets which is essentially collecting a series of coins until you have filled up a book with all the coins minted for that series. Whitman makes coins books for putting your coins in. Take a look at a couple of these and you will understand date and mint mark collecting. Some folks like to collect what are called type sets where you collect all coin issues of a certain type such as quarters all the way from the first issue to the ones being minted now. Some folks like to collect type sets made of all coins from a certain period. There are many ways to collect coins and the nice thing about it is that you can collect what you want and can afford.

    Don't think that you are going to pick one type of collecting or coin and that is it as many collectors change their collecting over time. I started collecting by taking my paper route money to the bank and getting rolls of dimes and pennies and then going through them to fill a Whitman. Now, I collect pre 1933 gold coins and I'm working on a complete mm/date set of Mercury dimes, Lincoln cents, and Walker halfs. I've completed my Washington Quarters, my Kennedy halfs, my war nickels and my American Silver Eagles.

    Collecting is a lot of fun and it is also an opportunity to socialize outside of your normal acquaintenances. I've been collecting for over 50 years but the hobby is still fresh and new to me. I still get a thrill when I roll a mint state morgan between my fingers and feel the reeded edge dig into my skin and look at the cotton balls to see how well it was struck. A nice merc is always a cool coin to play with. Over the years, I have had collections stolen, I have sold collections to save a small business I had (didn't work), I have lost coins, given them away...but I still collect.

    I don't know if it is good advice to go out and spend your money on a numismatic rarity right now, it would be much better advice to just go out and start picking up coins that you like. Don't forget to get a book or two becasue there is a considerable amount of American history in the dates minted, why they were minted, who designed them and how the designs came to be, who was running the mint, where the mint was and what was going on when the coins were minted. For example, visit the Mint museum in New Orleans at the old mint, right on the Mississippi where the US gov brought in bullion from river boats from the miners and minted coins that were going to be sent up the east coast and to Europe...cool stuff and the coins from there have an O mint mark and they were made in the 1800's. Another interesting thing is to look at the branch mints of Carson City or Dalongehea ( I know I probably misspelled that one) or Charlotte or the beginnings of the San Francisco Mint and then try and get some coins from there.

    Good luck and welcome to an international hobby that has captured enthusiasts since the first coin was ever minted.

    Mike

    Edited to add: Don't think these bullion heads on this precious metals forum don't collect coins...there are some exceptional collectors on this forum.
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    BanemorthBanemorth Posts: 986 ✭✭✭
    He has created this exact same thread in just about every forum from the tags, precious metals, BST, US Coin Forum and so on...

    Call me a paranoid skeptic but just seems to me like somebody fishing for free stuff or addresses...

    Just saying.
    Justin From Jersey

    Successful Transactions With: JoeLewis, Mkman123, Harry779, Grote15, gdavis70, Kryptonitecomics
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    stevekstevek Posts: 27,768 ✭✭✭✭✭


    << <i>He has created this exact same thread in just about every forum from the tags, precious metals, BST, US Coin Forum and so on...

    Call me a paranoid skeptic but just seems to me like somebody fishing for free stuff or addresses...

    Just saying. >>



    I think you're right and from the way it was worded it's pretty obvious...but on forums such as this the lurker to poster ratio is usually around 10 or 20 to 1...so I still figured with that in mind, it is worth a response to those who truly want to learn and know about coin collecting.
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