Beginner’s Guide to Coin Collecting - Coin Collecting 101
Posted by Andrew Adamo - A certified ANA Professional Numismatist, Active member of ICTA, contributor to CoinWeek, Numismatic News, NGC and ANA on Jun 5th 2025
Beginner’s Guide to Coin Collecting
Numismatics is booming. The American Numismatic Association (ANA) counts nearly 24,000 members worldwide—a figure that has held remarkably steady despite the rise of digital hobbies. H Auctions* alone recorded $1.867 billion in collectibles sales during 2024, its best year on record, with rare coins driving a significant share of that volume. This comprehensive guide covers the basics—Coin Collecting 101, supplies, sourcing coins, spotting value, and the best beginner series—while weaving in compelling facts and figures to keep the journey engaging.
The team behind Bullion Shark - authors of this guide - includes Certified ANA Professional Numismatists, active members of the Industry Council for Tangible Assets (ICTA), and regular contributors to CoinWeek, Numismatic News, NGC, and ANA educational programs. We live and breathe numismatics every day, from entry-level Lincoln cents to six-figure rarities.
1 Coin Collecting 101: How to Get Started with Your First Collection
1.1 Define Your Collecting Goal
- Type Set – one coin of every major design.
- Series Run – every date & mint mark for a single design.
- Thematic – coins tied to a topic (statehood, women on coins, world wildlife, etc.).
Fun fact: The shortest U.S. series lasted just four years (1875-78): the Twenty-Cent Piece. Even low-grade examples now trade for $100+ each.
AUCTION RECORD: $28,200 • PR67 • 06-23-2014
1.2 Learn the Language
Know the basic anatomy (obverse, reverse, rim, field) and the Sheldon 70-point grading scale. A coin graded MS-65 is typically worth 3–10× a piece graded MS-63 in the same series.
1.3 Set a Budget
A simple spreadsheet or free coin collection checklist prevents “upgrade fever.” Many successful beginners allocate 70 % of funds to coins, 20 % to reference books, 10 % to supplies.
1.4 Build Your Knowledge Stack
- ANA membership for course discounts and show access.
- The Red Book (A Guide Book of United States Coins) for annual retail pricing.
- Auction archives (PCGS, NGC) for real-market comps.
- Bullion Shark's Coin Collecting Blog
1.5 Network Early
Local coin clubs often loan loupes and counterfeit guides. Many shows feature “Young Numismatist” tables where kids can pick free starter coins.
2 Essential Coin Collecting Supplies for Beginners
A serviceable starter kit costs under $75 when sourced through large supply houses or a supportive local dealer.
| Supply | Purpose | Typical Cost |
|---|---|---|
| Mylar flips (2×2) | Archival holders; annotate date & grade | $0.10–0.25 ea |
| Staple-type 2×2 cards | Economical bulk storage | $0.05 ea |
| Coin album (e.g., Dansco) | Organizes a complete series | $25–40 |
| Cotton gloves | Avoids fingerprints | $6–8 |
| 10× LED loupe | Spots doubling, hairlines | $12–20 |
| Digital scale ±0.01 g | Detects off-metal strikes | $15–25 |
| Caliper ±0.01 mm | Confirms diameter | $12–20 |
| Silica-gel + PVC-free box | Humidity control | $5–10 |
PVC warning: Flexible PVC flips leach acid and can destroy luster within 18 months in humid climates.
3 Where to Find Coins for Your Collection: From Pocket Change to Dealers
- Pocket Change & Bank Rolls – Roll-hunting remains the cheapest entry point. Modern collectors still average one 90 % silver dime per $200 searched in mixed bank bags—a ratio verified across multiple YouTube hunts in 2024.
- Coin-star Reject Trays – Machines kick out foreign coinage, 1943 steel cents, and odd-shaped errors.
- Estate & Yard Sales – Focus on pre-1965 “junk silver.” Carry a pocket scale; a roll of silver quarters weighs 226.8 g (5.625 oz) versus 226 g for clad.
- Local Coin Shops (LCS) – Immediate inspection, room to negotiate, and a path to build rapport for first-look deals.
- Online Dealers & Auctions – Verify slab certification numbers at PCGS/NGC. Remember shipping costs—it can erase small-lot savings.
- U.S. Mint Subscriptions – Enrollment lets you buy at issue price. Many modern issues (e.g., 2019-W Lincoln Cents) now fetch 5–10× original cost on the secondary market.
Record watch: A colonial 1652 NE Threepence hammered for $2.52 million at the coin auction in 2024, reminding collectors that even humble-looking silver disks can hide million-dollar stories:
AUCTION RECORD: $2,520,000 • XF45 • 11-26-2024
4 How to Identify Valuable Coins in Circulation
Value = Rarity × Demand × Grade. Use this quick framework:
4.1 Rarity
- Key dates & mint marks – 1909-S VDB Lincoln Cent (484,000 minted) routinely sells for $150+ in VG-8.
- Wrong-planchet strikes – A quarter struck on a nickel planchet can weigh 5.00 g instead of 5.67 g and sell for $500–$1,200.
4.2 Demand Drivers
- Historical context (e.g., Bicentennial 1976-D titles)
- Celebrity errors (Wisconsin Quarter “Extra Leaf” quarters)
- Bullion content (pre-1965 silver)
4.3 Grade
A 1964 Kennedy Half in MS-65 trades at $100+, while the same coin in VF-20 is worth melt. Invest in decent lighting and a loupe before sending coins to grading services.
4.4 Quick 5-Point Checklist
- Weight off by > 0.2 g? Possible planchet error.
- Copper rim on a modern dime? Missing clad layer.
- Doubled lettering? Compare to PCGS PhotoGrade.
- Low-mintage mint mark? Check Red Book.
- Silver edge on post-1965 coin? Likely a silver error planchet.
Case Study: The only known 1943-D bronze cent sold privately for $1.7 million in 2010—a 170,000,000× face-value return.
5 The Best Coins to Start Collecting for Beginners
| Series | Entry Cost (circulated) |
“Home-Run” Variety | Auction Record |
|---|---|---|---|
| Lincoln Wheat Cents (1909-58) | $0.10–$20+ | 1943 copper, 1955 doubled-die | $1.7 M (1943-D) |
| Jefferson Nickels (1938-date) | Face value | 1950-D, 1943/2 over-date | $18,400 (MS-67 1950-D) |
| Roosevelt Dimes (1946-date) | Face value $3 silver | Full Bands proofs | $23,500 (1951 PR-69 FB) |
| ATB & State Quarters (1999-2021) | Face value + | 2019-W issues | $216 (MS-68 Lowell W) |
| American Silver Eagles (1986-date) | $40–$100+ unc. | Low-mintage burnished & privy | $16,125 (1995-W PR-70) |
Completing a “short set” (e.g., State Quarters 1999-2003) builds confidence and momentum.
6 Interesting Facts & Statistics
| Statistic | Best public source(s) to cite | Source |
|---|---|---|
| Coins vs. Crypto: “A 10-year study of the PCGS 3000 Index shows an average 9.4 % annualized return, outpacing gold (6.8 %) over the same period.” | PCGS 3000® Rare-Coin Index page – 10-year chart Macrotrends 100-year gold-price chart (2015-2025 CAGR) |
Learn more > |
| Circulation Lottery: “Roughly 1 in 6 700 wheat cents found in change is a pre-1930 key date worth $3 +.” | Ken Peavey’s One-Million Pennies Project (“Coin-Roll-Hunting Primer”) hit-rate figures CoinTalk follow-up threads on pre-1930 wheat frequency |
Learn more > |
| Penny Economics: “The U.S. lost about $110 million minting pennies and nickels in FY 2024 because production costs ran above face value.” | Wikipedia – “Penny debate in the United States,” production-cost section (updated Apr 2025) | Learn more > |
| Pocket Potential: “Americans ‘lose’ an estimated $68 million in coins every year—mostly vacuumed from sofa cushions or discarded at airports and landfills.” | Wall Street Journal podcast & feature, “Americans Throw Away Up to $68 Million in Coins a Year” (Jan 2024) | Learn more > |
| Collector Age: “Nearly 28 % of ANA members are under 40, reflecting a younger-collector surge since the pandemic.” | ANA blog post, “Collecting Friends: The Hobby is Changing” – under-40 membership statistics (2023) | Learn more > |
| Auction Momentum: “From 2010-2024 the record price for a U.S. cent leapt from $1.7 M (unique 1943-D bronze) to $3.36 M (PCGS MS66 1794 ‘Sheldon-1’ large cent, 2021).” | PCGS news release, “1943-D Bronze Cent Sold for $1.7 M” (Sept 2010) PCGS CoinFacts file for 1794 1¢ S-21 – $3.36 M Stack’s Bowers sale (Jan 2021) |
Learn more > |
Next Steps
- Subscribe to Bullion Sharks Newsletter.
- Join the ANA for webinars and magazine access.
- Order a basic supply kit - start cheap, upgrade later.
- Enroll in U.S. Mint subscriptions (quarters, Eagles) before enrollments close.
- Log your first 100 coins; watch your knowledge (and collection) snowball.
Happy collecting! May your next handful of change reveal the coin that sparks a lifelong passion.