The Verity of US Coin Collecting

The Verity of US Coin Collecting

Some people are born to love money; whether they spend it or just collect it, they are simply born to love the way money provides them the kind of gratification that they need.

For example those people who are coin collectors simply love the sight of coins and many wish to display their collections as art.

In the United States, coin collecting started as early as 1652. During this period, business people and individuals alike, were known to engrave and distribute their personal coins.

Some people are so interested in coin collecting that they are more willing to combine various forms and categories. The reason for this fascination for these coins is the very nature of U.S. coins.

The U.S. Mint carefully crafts U.S coins and over the past 30 years it has minted nearly 300 billion coins.

When the Articles of Confederation gave consent for the different states to create or manufacture their own coins, the U.S. coin collections grew at an unparalleled rate. That is why in the middle of 1780's, states like Connecticut, Vermont, New Jersey, New York, and Massachusetts started creating various coins unique to their states. This prompted the start of "rare coin collection."

To know more about U.S. coin collecting, here are some of the basic facts that you must know:

1. It was on 1787 that the primary "federally" approved coin of the U.S. was first made. It was in New Haven, Connecticut where the "Fugio Cent," the name of the coin, was secretly manufactured.

2. The U.S. Mint is responsible for manufacturing the U.S. coins. The agency uses bands of metal that are rolled into loops, with the right breadth and measurements. Each kind of coin uses a particular kind of metal. For instance, metal strips that are made of zinc are used to manufacture pennies, while nickels are made of a 25% "nickel metal alloy" and 75% copper.

For this reason, U.S. coin collecting is further subdivided into categories such as the U.S cent, U.S. nickel, U.S. dime, etc.

People who would like to start collecting U.S. coins, should learn the intricacies or the hobby and find ways to acquire their first coins.

The hobby of U.S. coin collecting is not just a wonderful hobby but also a great way to preserve the nation's culture and history.



Coin Collecting News

  • Coin collecting, then and now
    Since the beginning of time, there needed to be a form of exchange. In early history, before the advent of coinage, other commodities were used. When the first coins were struck, collecting began. I can't imagine having only a few types of coins to collect.

  • Coin show continues to draw wide variety of collectors
    PERRY -- To those who think that coin collecting is a quaint hobby of yesteryear, this weekend’s Middle Georgia Coin and Currency Show at the Georgia National Fairgrounds told a different story. Between 5,000 and 7,000 attended the 50th edition of the show, some to see what was available for purchase and some to see what the value was for the coins they brought in to be evaluated.

  • What Is Legal Tender?
    The topic of legal tender is one of the most misunderstood parts of coin collecting. By definition, legal tenser is money that can be used to: “Pay debts, both private and public.” Please note “can” rather than “must.”

  • Go gold, collector says
    Local Keith Knight believes the day could come when our paper money is worthless. For that reason and more, Knight is a huge proponent of buying gold. Knight has collected gold coins for 40 years and now owns hundreds, which he keeps in a bank vault....

  • Addicted to Collecting: From Malcolm Forbes to Me
    This article appeared in Forbes on January 30, 2012. Last week Sotheby's auctioned off 13 French military paintings from the once legendary Forbes collection. It represents the end of an era.

  • My silver coins mint me money
    AS a teacher, my students often ask me questions when outside the classroom.

  • Rare penny sells for $1 million in Orlando
    ORLANDO, Fla., Jan. 8 (UPI) -- A rare U.S. penny from 1793 was sold for $1 million at an auction during the Florida United Numismatists convention in Orlando, officials said.

  • In the alleys, a bottle-fed economy blooms
    It's a familiar sound: the jangle of a shopping cart filled with empties being pushed down a bumpy back alley. In many parts of the city, bottle pickers are so commonplace that people aren’t surprised if what they leave outside their blue bins is gone within minutes.

  • Rare penny sells for $1 million at Orlando coin show
    Talk about a lucky penny. It was actually worth $1 million. That was the final bid by an unknown buyer for the one-cent copper coin minted in 1793, the first year the United States produced its own coins. Its sale was one of the biggest deals at the coin show and annual convention of the Florida United Numismatics at the Orange County Convention Center. With nearly 600 dealers of coins and ...

  • $14.3 million Hot Lotto prize claim withdrawn
    Maybe it was someone who had a scheme for winning Hot Lotto who would rather walk away this time and try again later rather than expose themselves, their scheme and risk not getting the jackpot too.