Coin collecting can become a profitable hobby. You’d be surprised at just how much a single coin can be worth. In fact, one of the rarest coins is the 1794 or 1795 flowing hair silver and copper dollar, which is worth approximately $10 million. While it’s not likely that you or your child will come across this gem, you can still have a lot of fun collecting some of the more popular and highly circulated and minted coins. Coins can also provide invaluable insight to American history. If you want to introduce your child to coin collecting, here are 3 tips on how you can make the hobby even more interesting.
Uncover the History Behind Each Coin
Each coin minted and circulated possesses a piece of U.S. history in its design related to the economy or to politics. Take the time to uncover the history behind each coin and design. Even different minting years will have their own unique story to tell. For example, the Kennedy half dollar was first minted in 1964 to commemorate Kennedy’s assassination in 1963, making it a wonderful piece to add to any coin collection. These coins have Kennedy’s image on the front and were designed by Frank Gasparro. The presidential seal is found on the rear of the coin.
On top of having a historical importance, many coins also can give you some information in regards to current issues at the moment. For example, you can learn a lot from a coin based on the type of metals that were used to mint them.
Explore the Geography of the Coin with Magnifying Glasses
The design of each coin can also be wonderfully fascinating. Make sure to equip your child with a magnifying glass, so that he or she can carefully examine each coin with you. You’d be surprised at the amount of detail that can be seen on each coin. Many coins have mintmarks on them that document where they were minted. The location can have a huge influence on the value of the coin, as some coins were minted in fewer quantities at specific mint branches.
For example, the mintmarks for the Walking Liberty half dollar can be found on the reverse side of the coin just above the words “Half Dollar”. An S mintmark is used to indicate that the coin was minted in San Francisco, whereas a D mintmark indicates that the coin was minted in Denver. If the coin was minted in Philadelphia, no mintmark would be present. While this is true for almost all years of minting, the mintmark was minted on the obverse side of the coin under the motto “In God We Trust” in 1916 and for a part of 1917.
Organize All Finds Using a Coin Folder
There’s nothing more exciting than documenting unique finds. You want to be able to celebrate unique coins that come into the hands of your child. To do so, purchase a coin folder to organize all finds. The coin folder should provide information to the type of coin that has been collected. The coin folders will keep all finds safe and secure. This will help preserve their condition and, ultimately, their value.
Some coin folders will have areas where you can add your own information or story to the coin that has been collected. This will help personalize the experience. For example, you and your child can write down when the coin was found, how it was found and other types of information.
Coin collecting can be a fun hobby. There’s definitely a lot to it. You could have a lot of fun partaking in this hobby with your child. With that said, it can also be a difficult hobby to get into. Use the tips mentioned above to kick start interest in this hobby and to make it an even more fascinating of an experience. For more information, contact local coin buyers or sellers from companies like Desert Jewelry Mart & Coins.