When you’re beginning a coin collection, there can be a lot to learn. Where do you start? As a Grand Rapids coin dealer, we know that there is no wrong answer. One way to approach it is to think about the top five must-have coins that should be in any beginner’s collection.
When you first start collecting, you will probably have your personal favorite coins – perhaps the most interesting to you, the most beautiful, and the one that got you started. If you are working to fill a holder or complete a type set, maybe your top coin will be the last one to complete the set! Once you catch the bug, of course, you’ll probably want to start another set, or series, or grade.
5 Must-Have Coins To Acquire for Your Coin Collection
If your aim is to develop as a coin collector, here are some suggestions for five must-have coins that can really help your collection improve:
A Modern American Commemorative
Commemoratives offer lots of choices, and beautiful designs of interest to many people. Pick one of interest to you – your collection is a reflection of yourself. When you choose a commemorative, you can learn how to research in a book or online to find what you want, and you can also learn how prices of the same coin can be different over time and in different locations. One example of a commemorative is a Statue of Liberty half dollar or the silver dollar + half set, with price based on silver content
A Standard-issue Circulation Silver Coin
Dimes, quarters, halves, and dollars were made of 90% silver until 1964. The percentage of silver follows the denomination, except for dollars. So, quarter has exactly 2.5 times as much silver as a dime. Although some call them “junk silver,” many beautiful coins in great condition can be had for nearly the price of the silver. Collecting a circulated silver coin is a great way to invest in silver and get a nice, “real” coin. An example might be a 1964 Kennedy half, Walking Liberty half, or 1917 Type I Standing Liberty quarter.
A Key Coin
If you complete a type or year set, it may include one or more key coins, the rarest or most valuable in the series.
A Bullion Coin
Coins are the most common way to invest in precious metals, and all bullion coins will be priced based on their silver, gold, or platinum content. With a bullion coin, you can learn about how the spot price of precious metals varies greatly over time, and it can be interesting to pay attention to prices. Possible bullion coins to collect include an American Eagle silver ounce, or gold from the U.S., Canada, or South Africa.
A Foreign Coin
Many fascinating, collectible foreign coins can be had with very little investment, and you may find a great bargain if you’ve done your research. Unlike American silver which is nearly always 90% fine, foreign coins can contain almost any fineness of silver. You might even collect a year set from country of interest, once you start.
Now that we’ve shared some thoughts about top coins for beginner collections, what do you think? Did we miss any? Contact us at Grand Rapids Coins with your thoughts or questions.
