Would like tips on Coin Collecting?
Ever since I was young I collected coins and such. However I would like to turn this into a hobby any ideas on how to get started? Also I have a Buffalo nickel with no date is this of any value?
Besides beginning this hobby and besides regular circulation what is another way to come across valuable coins?
Taiping on Fri, 26th Jun 2009 5:30 pm
First of all the nickel is not worth a premium, due to not having a date. As one person here put it, you need a few books. One is a Red Book, a guide to U.S. coins. It is a wealth of information on mintage's, where the mint marks are and a beginners grading guide for each series. Forget the prices, all they are good for is a guide to value. If it says a coin is worth 15 cents you know it is not worth much, if it says $500 then you know your coin is valuable. The book comes out once a year and the prices are retail. It cost about $14.95 in wire bound. Most series of coins these days have one or more key coins that make it impossible to complete the set, unless you have or can save up a few hundred dollars. The Lincoln cents from 1959 and up, is not to bad to try. It is called the Lincoln memorial set. You can find most in circulation. Also the Jefferson nickel set from 1938-2006 can also be put together almost from change. There are all kinds of ways to collect. Check around with the dealers in your area and see which one you get along with and is the most helpful. I would keep away from auctions, until you know more about coins. Getting them from change costs you no extra.