Collecting those quarters

 Collecting those quarters

Collecting coins is a hobby that anyone and everyone could do.  But collecting quarters is a hobby that - currently – it is estimated that one hundred six million Americans do.  Men, women, and children of all ages are involved in collecting quarters.

What is it with these quarters that millions of people seem to go “gaga” about?  Primarily, doing it is easy as quarters can be found almost anywhere and the collectible coins do not cost much more than face value.

So how should one collect (or start collecting) start collecting the very much in-demand quarters?

For the budget-conscious coin collector

If the collector is concerned with his or her budget, many quarters may be obtained as change from purchases. This is a very convenient and less lifestyle-invasive method of procuring quarters.  If the collector is serious, bags of these coins can be purchased from coin dealers.  Do not forget to choose those quarters that were not circulated!

How to store those quarters

For those just starting a coin collecting hobby, coins they collect are usually placed inside a large glass jar or bowl.  This is perfectly fine.  Serious collectors prefer coin storage devices especially made for coins that are available in coin shops and from coin dealers.

How to make quarter-collecting fun and interesting

Children are the perfect people to start a hobby such as coin collecting, quarters most specifically.  Nothing beats the excitement of a new quarter in one’s pocket.  Quarters are a unique, as well as a very inexpensive, way to get children interested in history.  When they find a new coin, they can research it to find out the details of the state from which the coin came, etc.  It is an effective way to have fun while learning.

Coin history101

The sequence of how the coins are minted, believe it or not, is based on the order of the states.  Basic US history tells us that Delaware was the first state; therefore, this was the first quarter minted.  For the sequence of the other states, check the schedule from 1999 to the 2008 of the US Mint.

Collecting quarters is a valuable hobby that has many benefits.  It trains one to be patient, resourceful and appreciative of history and the value of the big and little things in life.

A coin is worth more than a coin

A coin is worth more than a coin

Coin collectors, old and new, have always wondered whether the coin or coins they have in their possession are worth more than the face value today - or in the foreseeable future.
 
Even though that a coin which has little or no value monetarily is not necessarily one would not keep or make part of one’s coin collection. 

The following are basic factors which could influence a coin’s value.

How rare or un-rare is it?

Generally, the concept that everyone knows and follows is this:   the rarer a coin the higher the coin’s worth.  This rule is true in some cases and – fortunately or unfortunately – false on the others. 

There was a situation where a Chinese coin, a thousand years old, sold for only a few of dollars because there were many of the thousand-year-old Chinese available. Compare this to a coin made only in 1913, a nickel specifically called a Liberty Head, which could sell for (hold your breath) one million dollars!  It is known that only five of these coins exist, consequently the enormous monetary value.

Is the coin in good condition?

The better the condition of the coin, the better the price that it would bring on the market, because the grade of the coin would match its condition. A coin that is in mint condition - add to this that it is basically an uncirculated coin – is actually worth one hundred times more than a similar coin that is just in average circulated condition.
  
Demand and supply

Sometimes, when the demand for a specific coin is high, that coin’s worth – despite the number of them available – is just as high. 
Take the example of the coin dated 1916-D, and compare it to the value of a coin dated 1798. Many people prefer to collect coins of the 20th century rather than those that are from the 1700’s.  The 1916-D dimes sell higher than the much older 1798 coins.  The fact that there are more (approximately four hundred thousand) 1916-D coins than there are dimes from the year 1798 (only about thirty thousand), does little to affect the price of each.

It is best to have a professional coin dealer grade the coin(s) and determine the value of any coin(s) you may own. Who knows, it could be worth more (or less) than what you think. 

The coin-price is right

The coin-price is right

There are many resources that can help coin collectors, old or new, in determining the value and worth of the coins they have. 

There are books out, “The Red Book” (A Guide Book of US Coins), “The Blue Book” (A Handbook of US Coins), as well as coin newsletters and catalogues available at any public or private library, coin dealers/shops anywhere in the US. There are also online guides for the prices of US coins available on the web, specifically the NumisMedia site.
 
For a synopsis of the price of each coin, the following are the basic values of each cent, penny, or dime in the market.

The United States wheat-cent, the circulated ones

The price of these coins made prior to 1958, or those that are dated 1940, are currently being purchased by coin dealers for two cents each, or less.  Those made before 1940 command a much higher price - from a few more cents to a few dollars.

The silver-dollars

Silver-dollars from the US, especially those made before 1935, have almost an ounce of silver in them.  These coins are the favorites of coin collectors and could be sold for more than their actual value in silver if they are undamaged or not worn severely. 

The dollars of Susan B. Anthony

If by luck you happen to get one of these as a change, the value is more than a dollar and proof Susan B. Anthony dollars command even more. They are not easy to fine as they are not usually being circulated. 

Quarters, dollars and halves – the bicentennial kind

There were billions of these coins made out, and because there are so many of them, their worth is usually just face value.  There are coin dealers however who pay ten percent of the face value as premium for circulated bicentennial coins, and a few dollars more for those that are uncirculated. 

A freak coin

Believe it or not, there are two-headed coins out there.  Basically, these are coins with two different designs on each face.  These coins were made in error and mistake was not discoverer until the year 2000.  This type of coins is usually called “mules”.  In 1999, it was found that a cent with Lincoln’s face on one side and Roosevelt’s dime image on the other existed. 

It you find a coin of this it must be taken to a legitimate coin dealer and assessed to determine if is genuine.  If so, this coin could be put up for auction and command a few dollars more. 

It is therefore true that a coin is basically worth more than meets the eye.

How to Earn Your Coin Collecting Merit Badge

How to Earn Your Coin Collecting Merit Badge

There is more to coin collecting than just keeping coins. There is something at stake for those who make an effort to know what they are collecting: the Coin Collector’s Merit Badge.

A person who wants to acquire a merit badge must prove himself to be someone who knows a lot about coins.

Here are some of the things that a coin collector must know in order to earn the Merit Badge.

1. The Grading Scale

Merit badge aspirers must be very knowledgeable about the different grades of coins. They must master how to assess coins and categorize each coin as:

- Poor
- Fair
- Good
- Very good
- Fine
- Very fine
- Extremely fine
- Uncirculated.

They must also present five examples for each of the categories given above.

2. Coin Terminologies

Coin collectors must familiarize themselves to coin terms such as “encapsulated” coins, “proof” coins or legal tender to get the merit badge. They must be able to determine if coins are “buzzed” or “whizzed”.

They must also show competency in explaining the following:

- Clad
- Date set
- Observe
- Reading
- Reverse
- Type set

3. Coin Storage

For a coin collector to achieve a merit badge, it is important that he knows how to take care, store and preserve coins.
Coin collectors must be able to demonstrate thorough knowledge in coin collecting by showing the councilors different methods of coin storage. It is expected that the advantages and disadvantages of the methods will be provided as well.

4. Coin Anatomy

Knowledge of the parts of the coins will give important information. That is why coin collectors who want a merit badge must know where the mint marks are located in various coins and they must also know where to look for the initials of the coin designer.

5. Miscellaneous things about coins

The councilors will be very pleased to hear stories about what you have learned about coins. These recollections may come from reading coin journals, attending workshops or seminars, joining a coin collectors’ club, or visiting mint facilities.

It is also expected that coin collectors know a lot about coins from other countries as well.

6. Counterfeit coins

A coin collector must have a perception of whether a coin is authentic or counterfeit.

Reading coin guides or interviewing personnel from mint facilities will be a help in this situation.

After knowing these things, you are now equipped with the knowledge needed to be worthy of the coin collectors’ merit badge.