Saturday, November 16, 2013

Coin Collecting

During the past two months I renewed my interest in coin collecting. I've ways been interested in coin collecting, but never took the time to learn about the hobby.When I did find a coin that I liked, it ended up hidden away in a drawer somewhere. I went to a coin show a few years back, but I didn't really know anything about the hobby back then. I recently purchased a set of clear plastic sheets and an assortment of 2x2 holders for the coins. After sorting and putting them in a folder, it was much easier to view the coins. Unfortunately I didn't have any complete sets and nothing very valuable. So, I went to Ebay to see if I could find the coins that I was missing. I quickly found what I was looking for and discovered many other coins that would look nice in my collection. 

In the process, I learned about key dates, coin grading, and values. Like most people, I collect the coins that look good to me. First, I acquired a few American Eagle dollar coins. They are 99.9% silver and considered more of an investment grade coin. Then I discovered Peace Dollars and really liked the look of them. They are 90% silver and range in value depending on the mint and year. There are 24 different year/mint coins that make up a complete set of Peace Dollars. Some key date coins can go for hundreds of dollars. I started with the 1922 D, which is a common year, and then picked up the 1923 and 1924 coins as well. I did try to get a 1921, the first year coin, but that year is a key date and usually gets high bids, if the condition is good. My plan now is to buy coins with the money that I get from selling old stuff on Ebay. So far, I haven't paid over $30 for a single coin. The 1962 Franklin Half Dollar Proof coin in the photo, went for around $17.

1 comment:

Unknown said...

Perfect timing! There's a real demand for gold and silver coins now, with services more than willing to fork some cash to buy them. That's a lucrative thing, and one you can look into for at least a part of your collection. :)

Dorothy @ South Florida Coins