Wednesday, April 20, 2011

Have Coins? Will Collect!

Vintage coins, that is. You could try looking under that old bureau, or inside the crawl space where grandma or grandpa’s old stuff may be stashed away, just waiting around for you to find them. Who knows, you might find a coin there, an older coin that - at present-day rates - might be priced at a few dollars; most likely three-, four-, or five-, even ten-times the coin's value back in those days.

A penny a day, has good worth
Fortunately or sad to say, there was a lack of copper during the entire year of 1943, and all of pennies at that time were minted employing steel. There were, nevertheless, some Lincoln pennies that were erroneously minted with bronze that turned out to be blanks. A few years - or decades afterwards -these bronze pennies are recognized as rarities and have become valuable. The steel ones, though, because of their commonality, are priced between one to three dollars each.

Be aware and take care, as there are scams in which naive coin collectors are sold coins, which are copper-plated, in order to make these pennies appear to be bronze. Additionally, keep your guard up any time somebody gives you a circa 1943 penny made from a metallic white alloy.


Old coins are wonderful coins
Coins, specifically silver dollars created and distributed between 1878 and 1935, are valued between twelve dollars and twenty five dollars for the circulated coins. The coins that were not in circulation are valued considerably higher.

Meanwhile, those quarters, dimes, or half dollar coins created and distributed prior to 1965, tend to be made from ninety percent silver and are, therefore, worth around today’s silver prices (with an additional premium, although modest, applied to the coin’s face value).

Wrong pennies are right
There is in existence a Lincoln penny issued in 1972, on which the date and also the characters upon it appear to have been double. This particular rare coin is currently worth about sixty dollars, if the pennies are in standard condition. The Philadelphia Mint, during that time period, accidentally misaligned the die utilized in minting the coins, resulting in the picture of Lincoln appearing like it was double. Happily or unfortunately, eighty thousand of these were produced before the mistake was identified.

To sum up, coin collecting is similar to collecting pieces of history and trivia from the past. In addition to the face value, its value as treasures - pennies, dimes, and coins - generally are worth a lot more over time.

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