A Coin Collector’s Guide to Finding Investment Coins
Collecting coins is one of those hobbies that entire families share and pass on as heirloom. However, if looked from a different angle, this hobby seems more like an investment. Astoundingly, coin collecting is one of the safest investments that one can go for since coins are after all, currency, and they will always possess some value.
Knowing that the demand of U.S coins has risen over a few decades now and the precious metals used can be melted to make bullions, investing in coins seems to be a lucrative and wise decision. Here are some key locations where you are likely to find investment coins:
Search the House
By searching the house we mean looking through penny jars, old coins, couch cushions, purses and every other place you feel that can offer you coins. This is the basic first step that will cost you nothing for starting off your coin collection. Another reason for beginning your search at home is that you will be able to find out whether or not you are enjoying this process of looking for coins for your coin collection. Generally, a coin collector must save coins that are of interest, are old and provide exceptionality to their collection.
Search the Local Bank
Looking for some free money across the house can lead a coin collector to spend a few dollars to get some coin rolls from a local bank. You can start off by penny rolls which are a cheap investment to begin with. For around $25, you can get a box of coins and it is almost a guarantee that you will find wheat pennies within them. Although wheat pennies aren’t as valuable, but you can definitely add up and enhance your coin collection with them. Keep in mind, the older the penny, the more copper content it has; hence, the more valuable it is. Even a penny from 1980s can be worth 3 cents as opposed to today’s one cent. To add up your investment, it is a good idea to get rolls of quarters, dimes, nickels and half dollars.
Try the U.S Mint
If you are a hard core coin collector who simply wants to dive in this investment, then go for buying proof sets from the U.S Mint where these coins are made. It is advisable to buy silver proof sets because they open up two new avenues for a coin collector: precious metals or silver, and numismatics or research based collectors.
Buy Rare Coins
If you are one of those coin collectors who are all in for some serious investment, then you’d probably want to invest in old and rare coins. The best place to find valuable and old coins is local coin shops, online coin collecting supplies stores and several other coin shows. Finding old, rare coins is not as easy as it sounds, rather it takes a lot to learn about old coins and how they can increase the value of your overall coin collection.
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