We decided what to collect and need some guidance

Ok guys,
My son and I have decided that we wanted to start our collection off with lincoln cents. We both agree that these are neat coins and love the wheat pennies. I guess now we need to know how and were to start and maybe some info on were to research and read up on the pennies. I know that everyone here has there specialty on what they collect and I cant wait to hear from some of you penny collectors on how to start out our collection.
Thanks in advance for your help.

 

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The Red Book - It is the best start for any learning about any U.S. coin.

 

Wheat pennies are a blast to collect, and they were what started me on coin collecting! First off, I would purchase a DANSCO album for wheat cents(they are one of the highest quality). Shield makes good albums too. Next I would buy a redbook to better understand the basics of grading wheat cents and establishing approximate value. Then start off cheap and buy some wheat cent rolls to search off of ebay, or go to a reputable dealer and ask for rolls of common wheats(or go through his junk bin). The major key dates(hardest to find and most expensive) in this series are the 1909-s, 1909-s vdb, 1914-d and 1931-s. All of the S mints from 1910-s to 1915-s, the 1922-d and 1924-d are semi-key dates. Some may suggest you purchase the key dates first, but I prefer to start with the less expensive coins in a series initially so I can better understand how to grade them and their characteristics. Also, roll searching with your son will be a LOT of fun!

If you are going to buy keys, I would strongly recommend buying them certified from PCGS, NGC, ANACS or ICG in order to protect yourself from a problem coin or a fake coin.

Other folks here will have a better idea of books and reading material, but I hope you stay here and continue to ask questions! There is a lot of knowlege on these forums.

Welcome, and enjoy!!

 

I ordered the redbook online two days ago and I cant wait for it to get here so I can start reading it and understanding things more. I also just bought coin collecting for dummies. I figured since I am so new to the hobby it would be a "getting down to stupid" way to answer some of my questions so I wouldnt bug everyone here all the time. (I am not promising not to bug you guys at all:whistle
Thanks for the input though.

 

Thanks Johnny, I am looking forward to roll searching with him. I went to the bank today and ordered a box of pennies and got 10 rolls of them to start with until my box comes in. we will be spending this weekend going through those until we can get the box in. I am excited and so is he.
We also called the local coin club. They are the low country coin club and we will be going to a meeting with them on the 17th.
Keep all the good comments coming guys and some of you experts on pennies give me some more tips. Thanks

 

Looks like you are off to a good start! Keep us posted on what you and your son find in the rolls!

 

I have collected certified Lincoln Cents for years. Love the series and it's alot of fun. Be careful of cleaned examples and never clean these coins. Copper is a very reactive metal. Are you buying Raw or Certified coins? I'd be very wary of buying raw on eBay. Buy the book and become knowledgeable in the series before any major purchases.


http://www.wizardcoinsupply.com/product/the-complete-guide-to-lincoln-cents.html


A coin I used to own:

 

Thanks, I will definately be getting that book in the near future. Just out of curiosity, is that 55D a very special coin in that grade.
Thanks again

 

The color and that it's certified by PCGS makes it special. The year and grade is not special.

 

I told you I had a lot to learn. I thought that the color was great looking to me but I did not know that it meant anything to anyone else. I guess I have a LOT of reading to do. Thanks again for putting up with my newby questions. lol

 

Ah, the days of my best friend and I sitting at the bank going thru rolls and rolls of pennies and swapping out wheats for the pennies in our pockets. What memories. This must have been 1972 or so. He found an S VDB once, pretty good shape. An occasional Indian would show up and I always wanted a flying eagle cent; it was my most sought after coin. Never got one until I inherited my current collection from my dad.

 

Wow, he picked out an S VDB from a bank role. Now that is living your life right to be that lucky. Maybe I will pull one out of my rolls. I will cross my fingers.

 

Welcome and it sounds like you are off to a great start on a wonderful hobby that you and your son can share for many generations.

If you are going to start collecting Lincoln wheat cents and turn to ebay, which can be good and bad, please keep in mind these few general rules:

1 - There is no such thing as 'unsearched' rolls ... period.

2 - People generally do not go to estate sales and just stumble upon a barrel of Lincoln Cents, that they are just blindly counting into bags of 100, etc, and selling as 'unsearched'.

3 - Nobody found a 1909 S VDB in an 'unsearched' roll that the seller sold last week / month, it doesn't matter what his pitch is.

4 - Most common year average circulated Lincoln wheat cents generally sell for about .02 -.04 cents apiece on the open market (off ebay). Keys and semi-keys can go for much more, up to thousands of dollars for some.

5 - When in doubt see rule 1

Of course there is always the exception to the rule, but those are far and few between. Best of luck, and this is definitely the place to learn so you don't get get burned.

 

It is funny you say that. I was looking on ebay and looked at the "unsearched" wheat penny rolls and the seller made it sound so inviting. These roles went for a lot of money but luckily I had already read on here about how those sales worked. That is why I am not spending any real money until I can learn a lot frome here and books. Thanks again for the advice and keep it coming.

 

A Little Help From Friends

I started with Lincolns as a boy in 1955 going through 5000 piece bags of loose pennies from city parking meters. You've chosen a wonderful way to start. I've got a bag of raw wheat Lincolns in the bottom of my safe. If you would PM me an address I'll send you some 'teens, twenties and thirties to get you started. No, it won't include any key or semi's but it will give you something to fill holes and practice grading. Years from now you can pass on the favor to another beginning numismatist - it does snowball.:high5:

 

Man I would really appreciate that and I am sure my son will as well. I agree with you that things that you do to help people will come back to you 100X over. Thanks again. All the people on this site have been awesome

 

www.Lynncoins has been good about getting me 5000 pc bags of Wheat Ears. My cost was about $300.00 a bag, plus they threw in an extra roll just in case I found some memorials mixed in.

 

Lee,

While that Lincoln is as cool as the other side of the pillow, there is no way that coin would be deemed market acceptable by PCGS today.

Paul

 

Why is that?

 

They would undoubtedly conclude the coin is questionably toned and it would end up in a GENUINE holder. The color progressions and color scheme are not consistent with air transfer toning.