The Poor Man's Guide To Numismatic Hobbies And Finding Rare Coins At A Bargain

Posted on: 28 September 2016

Numismatic hobbies are the collection of currencies, which usually involves coins, but can also include paper currency. With all the different coins out there in circulation, you may want to look at your spare change to see if your strike it rich. Many numismatic collectors will pay you a pretty penny for those rare coins you find, but how are you going to get started? Here is a poor man's guide to getting started with numismatic hobbies and finding some of the rarest coins in some surprisingly simple places:

Finding The Value Of The Quarters In Your Pocket 

There are a lot of coins that you may want to set aside and keep because of their value. It is interesting to know that most of the US quarters 1964 and earlier are mostly silver, and their value for the metal weight is a few dollars for each one. And, interestingly enough, pennies before 1982 are also worth more than their face value for their weight in copper. Now, do you have a pocket full of change right now? Take the coins out and separate pre-1964 quarters. These coins are all 90% silver and each one of them as a value of more than $3.50 just for their weight in silver. That is not it though; also look at the condition of the coins. Some of these that are in near mint condition or almost circulated can have a much higher value and can sell in auction from 10 to 20 dollars apiece (sometimes a little less but usually more than their value in silver weight). The mint marks (P, D, S, O, etc.) also have an effect on value to, which this we will get to later on with other coins. Even newer coins can also be very valuable, such as the 2004-D Wisconsin quarter with an error, which is worth 130 dollars or more. In mint condition, these coins can get absurd amounts of money. Proof quarters and special series like Liberty quarters can also be very valuable.

Getting More Out Of Spare Nickels And Dimes 

Nickels and dimes that are also well worth looking through your pocket change. There are many of these that are worth much more than their weight in gold. One of the most valuable nickels is the 1913 V nickel, which has a value of 5,000,000, is somewhere in circulation or hidden in an attic. There are only a handful of them, which are the same year that the buffalo nickels were minted. Some kids have probably spent these nickels in vending machines and they are probably in a coin roll somewhere or in someone's stash of change. Maybe yours? Since there are only a handful, you will probably be more likely to when the lottery than find a V nickel. But, if you see a strange 1913 nickel, keep a hold of it.

There are other nickels that can be very valuable too. Nickels produced during WWII are also high in silver content, which are worth about two bucks a piece. Several years of the Buffalo nickels are worth a few grand a piece; nickles from 1918, 1920, 1925 and 1928 with the D mint mark have a value of $3,000 or more in collector's books. Selling these at auction can sometimes fetch even more depending on their condition but even the ugliest ones can score you an easy 3 grand. Those with an S mint mark can be worth substantially more; as much as $14,000 for the 1924 S buffalo nickel. Even a 1938 common Jefferson nickel is worth about $1,500. Those are the most valuable and most are older, but there are also some modern nickels that are worth taking a second look at. Even pre-1964 for nickels are worth 10-to-20 dollars apiece. If you notice coins that have errors, usually caused by double die, then they are also worth saving. This happens when the coin is stuck twice when it is being made and can significantly increase its value.

Interesting Dimes With High Price Tags

Dimes worth keeping include mercury dimes that are worth $1,500 to $14,000 a piece. These are some of the most valuable dimes that are worth saving. In fact, dimes that predate WWII are usually worth saving. Many of these are worth at least a few bucks. Other dimes that are of interest can include the common mercury dimes that are worth at least a few bucks a piece and other dimes from the 19th century and early 1900s. There are also more modern Eisenhower dimes minted from 1946 to 1964 that are worth a few bucks a piece because of the silver they contain. As with other coins, rarer errors and special collections are worth more.

Pennies And More That Could Pay A Pretty Penny At The Pawn Shop

Those cents in your pocket may be worth a pretty penny, as well. The penny is one of the most widely collected coins. And, there is also more of a chance that you can find one that is worth a few bucks in your pocket change. There are many different mints of pennies that are worth saving. Wheat head pennies are becoming less common in circulation, but you can still find them. Even the most common wheat head penny is worth 75 cents. Many of these are worth 2 dollars or more. Some rarer wheat head pennies are even worth a hundred to a couple thousand dollars. Some of the rarest, like the bronze wheat head penny is worth more than $100,000. Sometimes, rare 3 cent coins can be found mixed with pennies, dimes, or nickels, which have a value of anywhere from 12 to 400 dollars.

If you have found coins that are worth a pretty penny and you need the money, take them to a pawn shop, such as Pawn World, and have them appraised. At least, you will be able to get the money for any scrap silver you find while coin hunting.