Many of us are on a very limited budget when it comes to coin collecting, but believe it or not if you know where to look you can find some fantastic coins for $10 or less! Additionally, there are even a few ways to make a bit of money online and offline to grow your collection 1) Coin Dealers "Junk" BoxesMany coin dealers have coins that are filled with inventory that they do not want to spend a lot of time selling, listing, or displaying them because they do not make them a lot of money. In these boxes, there are many different coins that you can purchase for ten dollars, and oftentimes less than that! Oftentimes these boxes are overlooked, but if you are willing to spend a few minutes looking through them you can find some fantastic coins to add to your collection! 2) 90% Silver BoxesAt coin shows and shops many dealers have coins that they sell primarily for their silver content! Prior to 1965 all dimes, quarters, and half dollars were 90% silver, but you can actually find coins that date back to the 1940s and oftentimes even to the 1920s or before! Although these coins are not in the best condition, but they are defiantly nice pieces; especially if you do not already have them in your collection! When searching through these boxes, please keep in mind “toned” coins that have unique colors as people oftentimes pay a bit more for these kinds of coins. 3) Coin Dealers 50% off BoxesThese boxes primarily consist of coins that coin dealers are simply trying to move out of their inventory. Usually these coins are worth just a few dollars, but there are oftentimes high quality products. They are similar to coin dealers junk boxes, but please keep in mind that just because a coin may be 50% off from that dealer does not mean that it costs twice as much at the other dealers table. Oftentimes coin dealers have extra high markup so they can sell them for 50% off! 4)Large Buckets Of Wheatback CentsOftentimes, coin dealers have boxes or buckets of common coins that are of the same kind, which are great places to look for coins! Oftentimes dealers simply do not have the time to look through every common coin that they have when they have a lot of them. This is especially true when it comes to coins such as wheat back pennies, wheat back penny that they get in large lots to determine which ones are worth 15 or 20 cents opposed to just 5 or 10. Yet, oftentimes coins that a bit harder to find such as roles of those minted at San Francisco, or of a higher grade such as AU or EF in some cases are worth a small premium, as well as some of the semi key dates which can be found. When looking through these lots, have a knowledge of which dates are worth a bit more than others, and keep on the look out for pieces that are graded in EF or AU condition, or from the San Francisco mint! A few things to look out for are listed below. Wheat Back Cents
5)Coinstar MachinesWe all know that coin star machines are great ways to get cash for large amount of change, and that reject dirty coins, especially the first time around; but what most people do not know is that they reject a lot of other stuff. Coinstar machines are known for rejecting foreign coins, silver coins, and other coins that are just plain weird to the point where it pays off to check these machines. Oftentimes the coins that you will find are not worth a lot, but if you get super lucky you might find a silver dime or nickel. In fact, just last week I got a French franc from 1960, and a Canadian quarter from 2007! Always remember, even if you do not find a cool coin in a coin star machine, if you find something then it can be spent to buy more coins. Along with those two foreign coins I also found 16 cents which is more than enough to find a few wheat back pennies. 6) Underneath The GroundIf you have a metal detector, then going metal detecting is a great way to find old coins! Oftentimes, people dropped coins that they had a long time ago, and they were never found. I personally know people that have found coins that go back to the 1800s, where silver coins have been found many times before! It is always a good idea to make sure that you have peoples’ permission when searching old properties to make sure that you do not run into any trouble. Still, even if you do not have a metal detector, keep on the lookout for change in places where people might spend or receive change, as every penny can add up to help you grow your collection! 7) Older People That Are Looking To Sell Their Coin CollectionMany older people used to collect coins when they were younger, and oftentimes because they are not looking to make a large profit on the coins that they have are willing to sell their coins for less than coin dealers! This is especially true if they have been out of the numismatic market for a long time, or if they used to set aside silver coins in the mid to late 1960s! When taking advantage of this method, please always make sure that you are obtaining a good deal not only for yourself, but that is also fair for the seller. Even though oftentimes these people have fantastic collections, they likely do not know how much their coins are worth so it is your responsibility to help them.
Well there you have it! I hope that the various ideas and methods discussed above will help you grow your coin collection while on a small budget! Personally, I have taken advantage of some of the methods discussed above, and they have helped me grow my collection and add great pieces, especially when I was just starting out; and I hope that they work out well for you too!
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Author: Brandon Spiegel.
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