For those who are beginners to the world of coin collecting, if you've already amassed a decent collection of coins, the first thing that would probably enter your mind would be, "are any of my coins rare or valuable?" This may be a tough question to answer, as an old coin may not always be a truly "rare" one. For example, you may have an old wheat penny in your repository, but what you don't know is that there may be thousands of these wheat pennies that were circulated before. However, it would also be possible that a coin in your collection may be a truly rare one, although you're not aware of it. Because of this possibility, it would be best if you delve some time learning about the tools required in identifying rare coins, as well as in embarking on rare coin collecting.

In the art of rare coin collecting, there are two major categories or classes for defining rare coins: Mintage Rarities and Grade Rarities. A Mintage rarity coin is a coin that is rare because it has a low mintage relative to market demand for the type. A Grade rarity coin on the other hand, is an otherwise common coin that is only rare because it falls in certain grades, like the current date U.S. Cents graded MS-70. In properly finding out if you got a rare coin in your collection, it would be best to check out 'The Official Red Book', which is considered the Bible for US coin collectors. This important book lists and indexes every kind of coin that was minted in the US, and also includes information on when each penny was made, how rare they are now, and what their current values are. Each coin in the book is represented in clear photographs, to properly inform collectors of their size and exact appearance. The Official Red Book comes out with a new and updated edition each year as well. A good source of education regarding rare coins would be the Internet. The Worldwide Web has a number of coin-identification Web sites, which may be very useful to novice coin collectors. Apart from consulting the Official Red Book and scanning the Internet, you could also bring your coin collection to a reputable dealer. These reputable and professional dealers ensure that they properly asses and identify your coin collections, and provide you with vital pointers for identifying rare coins.

Rare coin collecting can be a great adventure. You can search for rare coins that offer good value on the Web, or in coin auctions, or you may also drop by a flea market. Flea markets, according to numismatic experts, are places where people go to buy different sorts of items at truly affordable prices. For budding coin collectors, this market can be a rare coin "paradise", since you may be able to spot rare coins that are sold at rock-bottom, or very reasonable prices. According to veteran rare coin collectors, the most valuable and truly celebrated rare pennies are those that have minting errors, and have values ranging from a few dollars, and are still in circulation today. In addition, there are a number of rare coin dealer Web sites that provide collectors with a listing of modern rare coins, and show their prices as well. The art of searching for rare coins is truly an exciting and interesting one, especially when it leads you to a rare "find".

Oscar is a coin collecting expert. For more great tips on rare coin collecting be sure to visit http://www.begincoincollecting.com.

Collecting Rare Coins

What makes a coin truly rare? Coin rarity is determined by two different criteria. In some instances, a coin may be fairly common in circulated condition, but there may be very few in “mint” or uncirculated condition. This is known as “conditional rarity,” since the coin’s rarity is based on the actual condition of the coin.

There are some coins, however, that are rare in any condition, and these are known as “absolute rarity.” Many gold coins fall under this category, and the investment market is fairly hot for these items. Examples of these kinds of coins are gold pieces from the 18th and 19th centuries, rare silver dimes like the 1894-S Barber dime, and several types of one cent pieces from the last 1700s.

If you have a coin that you feel is rare, either conditionally or absolutely, there are a number of resources out there to check. You can take your coin to a reputable dealer for an appraisal (you may want to visit more than one to get a second opinion). Conventions and coin shows often offer free appraisals too. You can also find any number of coin appraisers online. Some appraisers will waive their fees if they end up purchasing your coins; ask up front what the charges will be for the appraisal. Be sure to check the background of any appraiser you use, and make sure they have extensive experience and credentials.

You can research your coins on your own with a good coin valuation guide. A comprehensive resource is the Guide Book of United States Coins by R.S. Yeoman, often referred to as the “Official Red Book.” Any local bookstore or serious hobby shop should have a few different books available. You can also check your local library.

There are a number of coin dealers that buy and sell exclusively in rare coins. Some of their products can be quite expensive, and some specialize in gold coins and “investment” products.

And don’t forget to check that change in your pocket! There are a number of rare coins still in circulation, and you never know when you might get lucky. Some of the coins to keep an eye out for are listed on various websites:

1943 Copper Penny – During World War II, production of pennies moved from copper to zinc-coated steel, so the copper could be used for the war effort. In the changeover, however, about 40 copper cents were struck from copper by mistake. A true copper penny with this da
1000
te could fetch upwards of $200,000.

1982 “No P” Dime – Struck in the Philadelphia Mint, the P was inadvertently left off from an undetermined number of these dimes. Estimated to be worth around $100, although some dealers may try to get more for them.

1955 Double Die Penny – With a value estimated at $200 - $1,000, these goofs were caused by a misalignment, resulting in a double image of the numbering and letters.

Coin enthusiasts often search for years looking for that once-in-a-lifetime find. In the meantime, they enjoy the thrill of the hunt. If you want to join the true lovers of rare coins, read up as much as you can so you’ll know what you are looking for, and how to identify it when you find it. Collecting rare coins can be a lifelong hobby for the whole family. Get out there and starting looking!

By: michael hill

Article Directory: http://www.articledashboard.com

My name is michael hill --- For more information on coins check here ---

www.mmike7.net/coincollecting/collectingrarecoins.html

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