Anything you encounter or own would be more interesting to you if it had a story attached to it. Same thing applies to coins, the more you know about them, the more you'll enjoy and appreciate them, as any coin collector will tell you.
That’s why we’ve come up with three tips for you to explore in order to learn about your coins, making collecting coins that much more special.
Tip #1: Learn about the backstories of your coins
Many coins have interesting stories when they were initially produced. Even though meticulous planning is often done before the production of a new coin, many were altered at first. For instance, the reverse of the first Lincoln Wheat Penny had the V.D.B. initials of designer Victor David Brenner prominently illustrated on it. However, the initials were altered midway through production after complaints that they were too prominent, and this made the original 1909 V.D.B. Lincoln Penny one of America's most popular coins.
That is just one example of how a coin's backstory adds to its overall value. You should also check out The Kennedy Half Dollar and The Susan B. Anthony Dollar; they're definitely a must-have for your collection.
Tip #2: Know the mintage and rarity of your coins
If you want to determine the value of your coins, you need to take into account the following factors:
- How many of this coin is in circulation today
- Mint marks and mistakes
- The coin’s demand
- The coin’s grade (or quality)
The fact that some coins are rare these days makes them extremely precious and valuable for coin collectors. An example of this is the Silver Mercury Dime. Despite the fact that the coin's official name was "Winged Liberty Head Dime," the public at the time mistook the design of the lady with wings on her head for the Roman God Mercury. Just 264,000 of these coins were produced in 1916 at the Denver Mint, making the coin extremely rare as a result of this.
Tip #3: Look into the past of the coins you own
Undoubtedly, finding out that a coin you own has great historical significance makes the coin collecting experience way more intriguing and fascinating. Many coins are renowned for their historical value for a number of reasons. An example would be the Three-Cent Nickel which circulated from 1865 to 1889 and emerged from the turmoil of the Civil War when the American currency was in danger and silver coinage was hoarded, making it a treasured memento from that time in history.
Knowing more about your coins makes the collecting hobby much more enjoyable and interesting. You can learn about them by consulting the U.S. coin guide called The Red Book, also known as the bible of coin collectors which includes all the information you need to fully know your coins. Following up with online numismatic sources such as The Franklin Ledger, where you can get knowledgeable information about your coin’s intriguing stories and historical value would also be very helpful throughout this engrossing journey of coin collecting.