You may have a lot of money but investing it all on coins can be stupidity. First of all, you should sit down and think about the amount of money you have and what portion of it you are willing to set aside for your coin collection. Then you should think about the right place to spend. Listed below are a few ways to collect coins. You will find them both challenging and interesting.
Denomination: How about owning coins of all denominations that the United States issues and has issued in the past? You can start off with the easy task of simply collection coins that are in use today. Once you have those, you can think about a 20-cent piece, a three-cent piece, half cent, and other old coins that are not used anymore.
Type: Every denomination will have its own types. You can take half dollars for example. The types you will find are Franklin head, Walking Liberty, Kennedy, Barber, Seated Liberty, Draped Bust, Flowing Hair, and so on. You can collect all the types of one denomination and then start with another denomination.
Date: This can be a lot of fun. It also serves dual benefits. You can easily find all the half dollar coins of each year right from 1900. You won’t even need to pay more. In the end you will have coins from each year and you will have numerous different types of coins in your collection at the same time.
Date and mintmark combination: Finding combination can actually be expensive and challenging but also a lot of fun. Rare mintmarks are expensive and you should remember that. For example, Barber dimes are not easy to find unless you are ready to shell out a lot of money. 1894-S is extremely expensive and could easily cost you over $1,000,000. You might be able to afford the other dates though. Barber half dollars are on the affordable side. You won’t need to burn a hole in your pocket for them. These coins are bigger and affordable.
Don’t forget that old Philadelphia coins do not carry mintmarks. Only the recent ones do.Year: You can buy all the coins that were issued in the year that you were born. This will be easy for you if you are fifty years old and less because you can buy the entire set along with commemorative coins of that year. But people older than fifty might have to sweat it out a little. But isn’t that part of all the fun? To challenge yourself more, why not try collecting coins issued by other countries during the year of your birth?