Cute Presents For 2 And A Half Year Old Girl The Importance of Collecting US Junk Coins

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The Importance of Collecting US Junk Coins

If you are new to coin collecting or even thinking about collecting coins, you should learn about “junk” coins. I have been collecting for about forty years. When I started I had a little money to use to buy coins. Every Friday I went to the local coin dealer and browsed so much my head hurt. I only bought the oldest coins I could, even though they were in poor AG or Good condition. The first coin I bought was an 1819 large cent in AG condition for $9. The coin was so worn that you could barely see the details. If you rub both surfaces with your hand, you might faintly notice small bumps.

The thing about collecting old “junk” or “low ball” coins from AG to G grades is that you can own old coins that would tell many stories if they could talk. Worn coins were not owned by just one person, but probably by hundreds of people. You wonder who they might have belonged to. As with my 1819 large cent, I wondered if Andrew Jackson, our seventh president, or some other famous person might have owned it and kept it in his pocket. What could this person buy with it? Or perhaps a child received it as a Christmas present to create a piggy bank in the early 19th century.

What I didn’t consider at the time was the future value of the coinage market. Many seasoned collectors buy long-term gains to make a profit. So they buy the ones that are in the best conditions. Most coins in these higher grade conditions tend to become better investments. These conditions are Very Good (VG), Good (F), Very Good (VF), Very Good (EF), About Uncirculated (AU) and Uncirculated (U). Uncirculated coins even have multiple categories. Don’t think too much about higher status just yet.

The United States Mint has been minting coins for the past two hundred and twenty years. Today we use pennies, nickels, dimes and quarters and to a lesser extent half dollars and metal dollars. But in the second half of the 18th century, half cents, cents, half dimes, quarters, half dollars and dollars were minted and regularly circulated. Generally, the older the piece, the more actively it has circulated. Only dimes and pennies are made of copper; the others contain mainly silver.

Some advantages of buying junk coins are worth noting. First, you can buy these pieces with little money. If you’re living on a shoestring income, lowballs might fit your budget. Second, they retain their molten values ​​very well, such as copper in old cents and silver in dimes, quarters, half dollars, and dollars. (Nickels were made from copper-nickel). Although worn coins have lost their investment value, they are still worth copper and silver. Also, I failed to mention that US gold coins were minted for a long time until 1933. Pennies held sway until 1982. Dimes, quarters, half dollars and dollars were made of 90% silver until 1965. Third, collecting Old worn out copper and especially silver coins can be used against inflation. When the value of the dollar bill decreases and the American dollar bill becomes worthless, the price of silver rises. So, you could trade your silver coins and get good money. Copper can also go up. I remember when an ounce of silver went from $7 to $50. If this change happened today, the old smooth silver quarter you paid $4 for could earn you $10 or more. Finally, you can play with these worn coins: rub them all you want, imagine all the stories the coin could tell, and show them to your friends. I met someone who was carrying a large 1800 minted penny to show people. All other coins in better than “fine” condition should probably be placed in 2 x 2 inch coin holders.

Don’t pay a lot of money for expensive pieces that are in better than “good” condition unless you can see better than good for a little money. Buy scrap coins with as little money as possible. Go to your local coin shop where you can buy junk silver pieces individually or in bulk. The best way to find them is to Google “junk coins” and you will find a few other companies that sell these coins individually or in bulk. Good luck collecting!

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