How To Start Collecting Coins

I'm not an expert by any means, but I'd say this:

Educate yourself, read all you can about whatever it is that you are looking to collect. You'll know how to search for fair deals and avoid getting ripped off.

Be patient - focus on a couple or few coins and search them out in auctions (Ebay, etc), flea markets, coin shops & shows, etc.

I'm really new to this too, and also don't have the desire (or wifes permission) to blow a bunch of $$ doing it. Plus, I really don't have the time it would take to search a box of halves or nickels. So I do a few rolls at a time, look in cashiers drawers for .50's and pay attention to pocket change. While travelling this week, I intend to hit a couple banks in a couple small towns and maybe a coin shop.

Best of luck to you.

How to start collecting coins...

Keep more than one! (sorry, could not resist).

On a serious note a monthly budget of $100.00 goes a very long way! You can get a nice set of Kennedy halves over time if you roll search and on occassion you can even find some silver or a not issued for circulation coin in the series. The rest you can turn back in. Your cost? .50 plus gas and time for coin.

Pennies (my favorite). You can get close to a complete set of 1909 to present except for key date coins just by purchasing boxes of pennies and searching the rolls. Again you cost is face value plus time and gas. If you find some double die errors or wide/narrow AM errors they can help buy the additional rare pennies you will need to complete the set.

Nickels from 1938 to present again just by roll searching. Silver ones and 1950 d and a couple other ones are rare but the rest you can find in circulation. Face value and gas and time.

The nice thing about all of these choices is it is something you can do when watching tv or spending time with the kids etc. Do it long enough and continue to update to better coins when you find them you can build some fabulous sets in just a few short years assuming you have looked through a LOT of coins. Best wishes on your searches! Sincerely, John Leckrone

I have found by going to estate sales and estate auctions that the relatives have usually gone through and sold most of the good stuff to the local coin shop for crappy prices not knowing what they have and ready to cash in.I live in Ohio and go to many auctions through the summer at old farm houses and such and very seldom find any good deals besides the one off silver dollar or folder of pennies.If an auction has a collection for sale that hasn't been pilfered they will list them in the auction advertisement then you have dealers standing by to pounce.I have found my best modern coins roll hunting and the economy being how it is there are many local folks rolling up there change and taking it to the smaller banks so that's where I try to go.Just my 2 cents here.

In most cases yes but sometimes they will let you pick through if there is anything left worth having.

The really sad thing about auctions is when I see coins sell they generally bring A LOT MORE than you can buy at the coin shop. I will continue to buy from my fellow dealers and roll search. Both methods have allowed my to find some really choice pieces on the cheap. Sincerely, John Leckrone

1. Educate yourself. This site has a lot of information and willing people to get you started. There are sites set up for just specific types of coins and get into them a lot more. The other way is to buy a few books or check out your local library and see what they have.

2. What do you like? This is an easy and difficult question rolled into one because everyone has a different answer, The only correct answer is to collect what YOU like. If you have been given a coin collection to start with, then look through it and see what types of coins jump out at you. Then refer back to number one.

3.Where to buy? The easiest place to buy from would be coin stores and conventions because of the vast number of coins they have and the ability to pick the ones you want. There is always ebay as well, but you really need to be cautious when doing so. I would say that about half of the items listed are overpriced, ask too much for shipping or are put up by someone that is lying about the listing (EX. there is someone right now listing UNSEARCHED rolls of cents that have a flying eagle on one end and an Indian head on the other. This never happens). But buying the single coin now and then and some small allotments is a good place to start.

4.Grade. Depending on your level of collecting this is something to think about because you can buy some coins for almost nothing in a very low grade, but it also may not be desirable later on. Most people that collect have a certain grade set in their mind and they will not accept anything else. Newer coins can always be found in higher grades for cheap but the older ones could cost your monthly allowance. While just starting out you may not care about the grade, but always keep it in mind to buy the best when you can.

5.Roll Searching. This is the easiest and cheapest way to do it but the reward of finding something that fits your collection may not be. Since this is the cheapest way it is also the most time consuming and rewarding all in one. For anyone that collects coins I feel that they should do this to some point even if it is just a few a month. Like stated earlier, you may find some nice coins that can be traded or sold to further your own collection.

6.Cheap vs. expensive. This is always a personal question because what I can spend in a year some can spend in a day. Watch what you buy and how often, track your collection and see what you are spending it on. No matter what your limits are you can always find a lot of great stuff. Most coin stores have some type of discount area or hidden gems if you are willing to spend the time looking for them.

7. Supplies. This should ALWAYS be included in your budget, what is the reasoning of buying something if you are not going to take care of it. Books, 2x2's, pages, rolls, etc. are all part of your collection and should be treated as such. These items will help protect and store what you have.

8. Old and new memories. The books that you were given may have type of memory to your past or a loved one and because of that you may not want to do anything with them. These might be a starting block to get you started or a goal for you to finish what someone once started, either way, there is a memory attached. If these items are special then treat them accordingly and start a new set yourself, if not, look at the conditions and maybe upgrade the books and/or coins. I know I have a few books that were given to me by grandparents that will never be finished because I try to keep them just as they were given to me, while other ones went right into my collection or passed down to my kids.

9. Have fun. This is the most important factor because when you quit having fun then there is no point of collecting. I started when I was a kid and quickly forgot aboutit then a few years ago I got back into it because I was looking for a new hobby and it sounded un again. Now my kids are getting involved and I think my 6 year old will have a nicer collection than me in a few years.

yes!. this will be very helpful =D

Great reply by penny pincher. All I can add is: if you are going to spend a grip of bucks on a coin, know why it is pricey and why you want it.