Beginners guide to collecting coins

Did you ever want to collect coins, but didn't know where to start? Well, this Instructable will teach you the basics of coin collecting from grading, to how you should handle coins.

Step 1: Increase Your Knowledge

The first mistake that every beginner makes, is buying overpriced coins. Before going out to buy coins, do your research, to get an estimate of what you should be paying for it. You can search many sites such as ebay and you can also look through coin books such as The Official Red Book in your local library.

---

Coins' prices vary based on their grade. Coins are graded as follows:

Abbreviation | Name | Description

---

U, MS | Uncirculated, Mint State | Absolutely no bag marks other problems.
BU | Brilliant Uncirculated | A coin with few bag marks.
AU | About Uncirculated | A coin with slight signs of wear.
EF, XF | Extremely Fine | Shows extremely clear minute detail.
VF | Very Fine | Shows obvious signs of wear.
F | Fine | Half of the design details show.
VG | Very Good | Coin exhibits heavy wear.
G | Good | Design shows almost no inner detail.
AG, FR | About Good, Fair | Some outline gone; rim worn down.
PR | Poor | Many coins not able to be identified.

---

When grading coins, it is best to use a jeweler's loupe. This will make the coin appear larger, revealing tiny details that you wouldn't have been able to see with your normal vision. About a 10X triplet loupe is a good choice for viewing coins.

---

When purchasing graded coins be sure to purchase them from reputable grading companies such as NGC and PCGS.

Comments

[acdc1226]

Awesome instructable!

[DELETED_Robert L]

(removed by author or community request)

[woody558]

It is worth more if it is from 1964 because those are silver. If it is from 1965- present it is worth 50 cents- $10 depending on the grade.

[spock155]

Where was it minted means does it have a "P" for Philadelphia, a "S" for San Francisco ( usually these are proof and of the highest quality), or does it have an "D" for Denver.

[spock155]

Which year, where was it minted, and what condition is it in?

[DELETED_Robert L]

(removed by author or community request)

[spock155]

$3.50 for gem unc. 60, prolly $3.00 for almost unc. (unc = uncirculated)

[spock155]

Nice ible! I just started coin collecting recently, and I find it very fun. I started because I saw my parents collection and got their coins priced, and found out that it is a really good investment! Not to mention, also, how cool different years of coins look. How did you start? *got DC territory and Harrison dollar, yes! -now I need that darn 2009 24k gold relief coin-*

[Flumpkins]

5/5, added to favorites and I voted for it in the book contest

[plane phanatic]

Thanks!

[Flumpkins]

No problem!

[GorillazMiko]

Another great Instructable. +5/5 stars. (added to favorites)

[plane phanatic]

Thank you! Good luck with your collection.

[Gjdj3]

Cool stuff! I collect coins and I keep mine in the little cardboard thingys and the cardboard in a binder. The one thing I would add is that for grading your coins you probably would want to purchase a jeweler's loupe. These make it easier to grade your coins.

[plane phanatic]

Thanks for the comment. I will be sure to add the part about the jeweler's loupe. Happy collecting, and I wish you the best of luck.

[masterochicken]

I keep my coins in an M&M tube.

[plane phanatic]

That really isn't the best place to keep them, but at least they're safe. Happy collecting. :-)

[masterochicken]

And then I keep the tube in my toilet tank.

[Brennn10]

I have that same set of 1943 Steel Cents!

[plane phanatic]

Cool, I got my set from the U.S. mint. Where did you get your set?

[Brennn10]

I bought my set off of ebay.

[plane phanatic]

Cool! Good luck with your collection.

[CameronSS]

Funny...My coin collection is stored in a tin with a picture of a gnome on it. I don't bother protecting them, because they're all virtually worthless. Many aren't even legal tender anymore. I just collect them because I think they're cool, and I wish that quarters were two-toned like euros. For someone who actually cares, though, this is nice.

Clearer pictures will be added Tuesday, July 2, 2008
The only Tuesdays that are seconds in 2008 are September and December. I'm confuzzled.

[plane phanatic]

Thanks for the comment. If you start collecting coins, soon you'll have a large collection. Clearer pictures will be added today. I meant July 22. Sorry about that and good luck with your collection.