Monday, February 3, 2014

Collecting Coins as a Hobby is Inexpensive, Educational and May Help You Save Money

Recent quarters and pennies from pocket change
New Quarters and Pennies are Collectible Coins
Collecting coins may sound like an expensive hobby, but it doesn't have to be, and is an educational adventure to pursue with or for children or grandchildren.
You don't have to buy coins to collect. New coins are collectible and cost only face value. Collecting last-years minted coins is a good place to start.  As a consumer, you can pay cash for small purchases and save the change. Dump your coins into a bowl and sort occasionally by denominations.
Children can learn to count and learn about mint marks and coinage at the same time. Most children can read the date and mint mark for Philadelphia or Denver without a magnifier -- while, at our age, we may have difficulty sorting quarters from nickels without glasses and a magnifier.
Here are some collecting ideas:
Collect states quarters and the new extra ones like Mariana Islands. Folders for collecting states quarters are available, and these are handy because they identify which coins were minted, and the mint locations. Folders aren't necessary, though, as you can get the information you need from the U.S. Mint here:
The "P" minted coins are more difficult to find than "D" and we have a few sets completed and others with just a few "P" coins missing. You may have the same luck, but sometimes it depends on the region. If you live close to the Philadelphia area, you may find "P" coins easily, and if you live near Denver, the "D" coins may show up in change. We live in Texas, and don't find as many "P" coins here.
Save all the new coins from the past few years. These aren't uncirculated coins, but over the years, the condition will be better and the value will be greater than coins that have been in the marketplace. Coins from 40 years ago or so that we collected when our daughter was young no longer show up in pocket change. She learned about American coinage, mint marks, how to count, how to save money, and the coins are still in great condition.
Save the presidential dollar coins, first released in 2007.  The U. S. Mint is producing $1 coins honoring presidents. The presidents for 2014 release are Warren G. Harding, Calvin Coolidge, Herbert Hoover and Franklin D. Roosevelt, but the series started in 2007 with George Washington.
You can learn more about the presidential $1 coins here:
Collect the Native American $1 coins first released in 2009. Sacagawea is on the front and each release has a different reverse. Here's information about the 2014 coin:
Collect new pennies, dimes and nickels and any old coins you find in change. These coins are usually available about a year after minting. We find 2013 coins in change, and save them. They have little wear but won't stay in that condition unless we rescue them. Silver-based coins made prior to 1964 have greater silver content than coins after that date. Older half-dollars are valued higher than face value. You can read about the metal melt-down value here:
Collecting coins this way is not expensive. You're saving money, not spending money like so many hobbies -- scrapbooking, crafts, and other collecting ventures. Your coins will never go below face value, and can always be turned into dollars if you need. If you only pay face value for the coins by saving your change, you'll never lose money. Your family can learn about United States coins, and children can experience the anticipation of finding a coin needed for a collection.
Enjoy a hobby that doesn't cost money. That's a rare find.
See you soon!