Coin Collecting Club

A mintmark is an identifier on each coin that tells you where that particular coin was minted. It’s a security feature to help curb counterfeiting. So, you would ordinarily try to find the mark that is on each coin. One thing we should be aware of though is that not all coins bear this mark on them and this is because of a few factors.
Sometimes the original mints in a region will mark their coins, and that will be the unique or stand out factor for the coins for that mint. Sometimes, the marks are also just not put on purpose. A good example of this are the Lincoln cents that were minted in San Francisco and West Point mints in the 90s. You couldn’t distinguish these coins from those minted in Philadelphia. There was a problem at the mint of some sort where grease clogged up and the dye had a problem. Some coins were left with no mintmark or a very weak one that was easy to scrape away.

So, if you want to look for the mark, where are you going to look? We are told to look on the obverse of the coin, most times anyway. Sometimes though, the mark can be found on the reverse of the coin. During the Second World War, there was a shortage of nickel used to mint the 5 cent coins (nickels). Due to the shortage, silver was instead used, and the mintmark was put on the reverse side of the coin. This was a distinguisher. The placement of the mark varies from country, mint, coin and sometimes the decision of the people concerned. You will find they can decide to change the position of the mark as they wish, or go without one.

There are a lot of resources which will help numismatists, new or old, in deciding the worth and value of coins they’ve.

There are books released, “The Red Book” (guidebook of U.S.A.’s Coin), “The Blue Book” (An Handbook of USA’s Coins), also as coin broadcasts and catalogues accessible at any common or private library, traders/stores of coins anywhere in the USA There are also web guidebooks for the costs of US coins for sale on the net, especially the NumisMedia site.

This site provides a synopsis for the price of all coins, following is basic values of every cent, dime or cent in the marketplace.
The U.S. wheat-cent, the distributed ones

The cost of all these coins which were made before 1958, or those which are dated to 1940, are presently being bought by dealers for 2 cents each, or lesser. But, those made prior to 1940 get a much greater price - from a couple of more cents to some more dollars.

Silver-dollars

US’ Silver-dollars particularly those made prior to 1935 have about an oz. of silver in it. These are the favorites of numismatists and may be traded for much more than their true value in terms of silver if they’re intact or not worn badly.

The dollars of Anthony B Susan

If by some luck you get one from these as an change, its price is more than one dollar and professor Anthony B Susan dollars command even a lot more. They’re not easy to find as they’re not commonly being passed around.

Quarters, halves and dollars - the bicentennial kind

Billions of these were made, and as there are a lot of them, their value is commonly only their nominal value. There are dealers however who bear one-tenth of the nominal value as exchange premium for circulated bicentenary coins, and a couple of dollars more for coins which are not circulated.

Freaky coins

Believe it or don’t, there are coins having two heads out there! Fundamentally, these are mints with 2 different designs on every side. These coins were done in mistake and fault wasn’t discovered till the year 2000. These types of coins are called as “mules”. It was found in 1999 that a centime with Abraham Lincoln’s face on a particular side and Roosevelt’s image existed on the other.

If you find this type coin it should be taken to an authorized coin trader and valuated to check if it’s genuine. If so, the coin can be put for an auction and bid a couple of dollars extra.

It’s thus true that one coin is fundamentally worth more than gathers the eye.

Wondering what to give your child on his next birthday? Give him a gatefold spread that can accommodate up to 50 coins. He may not appreciate the coins, but telling him stories about the coin and how it was made can spark his interest. For each birthday give him the coins minted that year. His collection will grow and so will his interest and by that time, he will be an accomplished numismatist.

History Lessons and Saving Money

The ideal age to start a child on a coin collecting hobby is at six years old. Imagine the number of coins he can amass when he reaches adulthood! But there’s more than just introducing him to coin collecting. You can use this exercise to teach him how to save his pennies in a coin bank plus pique his interest in the country’s history when you start with local coins.

Since you may not have those very old and valuable coins dating back to the 1800s, get a book on coin collecting and show him the pictures of the coins. Add a story or two depicting the era that’ll make any child sit up and listen. Stories add value to the coin collecting hobby and expect your child to be an expert in historical epochs.

If someone gives your child a bag of coins, take out each coin and sort them. Teach your child how to do the sorting. As you go along, tell him a little history on each coin. Probably the bag of coins will yield recent mints so it won’t be hard for you to tell the coin’s story.

If you have saved all the coins circulating in the year of your child’s birth, that would be the best introduction to a lifelong of coin collecting for your child. Help him along with the collection. Learn the tricks yourself so you can teach your child how to collect, clean, and store the coins.

Starting the Hobby

For starters, get magazines on coin collecting, a pair of white gloves, magnifying glasses, and coin albums or folders. Start scouting for coins and learn all about the discontinued coins like the 1965 quarters, dimes, and half-dollars. Subscribe to coin collecting magazines and check out the websites on coin collecting. You’ll be amazed at the wealth of information you can collect and pass on to your child.

Using a magnifying glass to see the fine lines and the details of a coin is an exciting experience for a child. Make sure you are ready to give the information your child may need. Or if you don’t know the answer, you can make it your project to find out online.

Because this is just a starting point for you and your child, don’t buy expensive coins and if you find some dirty old coins, don’t attempt to clean it. Find out its composition and the appropriate way to clean it. You can get help from several websites specializing in coin collection.

Tips for Coin Hunting

This is not referring to a treasure hunt. You can do your hunting online. However, coin collecting is an expensive hobby if you want the rarer and more prized coins. In the meantime, make do with what is available and always get your hands on new mints. Tell your friends you’re helping your child start a coin collecting hobby but be prepared for the avalanche of coins that will start pouring in.

In the future, when he coin collecting bug bites you real hard, you’ll be running after a metal detector to clean out your yard and your grandfather’s house. The hobby meant for your child will be yours too.