Best Coin for the Money

I think he would be extremely interested in an ancient, and oftentimes there will be lots of money left.

Morgan Dollars or Spanish Milled Reales are a good idea. I like the milled reales because they were used as currency in the US.

 

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If your club friend has a Red Book, let the youngster flip through there and see if something particularly catches his fancy.

 

I would tell him Peace Dollars - because...well... uhm... I like Peace Dollars.

Actually, you might want to start with something that allows him to build a collection to appreciate and expand while keeping it affordable.

A set of BU Roosevelt dimes can be had pretty cheap, as well as a nice collection of Jefferson Nickels.

Jefferson Nickels also bring about the understanding of the value of the metals and rare date(s). with the 1950-D and the "Silver War Nickels."

Even getting into graded Jefferson Nickels can be affordable to help teach the skill.

It may also prompt the question of "what came before" and what came after...

Cheers to ya!

 

Part of it is whether he wants to collect a set of a particular coin or is more interested in collecting examples of all the US coinage.

 

You have to love these open ended questions. There is never a shortage of people who will be glad to tell you how you should spend your money.

 

Especially when that's exactly what they've asked.

 

Something that has to grab their imagination. Mine started with pennies, looking for wheat's and then moved to silver hunting.......Something has to grab him....Coin show would be a good 'look' to see what sparks an interest.

 

I like it!

 

Look up Moonlight Mint or DC Coin...should be about $75 or so.....

 

Not true. The 50 dollar gold proofs and uncirculated have increased $100.00 over the amount that I paid a few months ago.

 

/1/ A Red Book
/2/ A coin from Grandpa's Birth year

 

Red book, beginner collecting coins book, 2 pounds of early 1900s world coins, 1 ms63 Washington silver quarter graded, 1 ms 64/65 mercury dime graded. That should get his interest going

 

I would strongly disrecommend the Redbook to anyone only interested in collecting moderns. The prices are highly misleading and will probably impede their collecting.

 

I am very glad to hear your investment has been going up in value! As I am not particularly familiar with modern coins - how much of that increase is due to the increased collectability of the coin and how much down to the change in Gold price? I don't know how much the coin would have cost new - what percentage increase does a $100 represent?

My point is that for every modern coin that goes up in value in the short term, there are many more that take many years to even reach their purchase price except where bullion rates overtake the coin value. I haven't checked recently but I know a few months back you could buy a new Sovereign from the Royal Mint for the "bargain price" of GBP 395. At that time the Gold value of the coin was GBP 180 and even allowing for the premium for top quality gold proof, the best you expect to sell one for was around GBP 250. The Gold price needs to move a long way before you would get your money back!

 

Gold has gone up $300/oz since December.

 

That's a cool idea.

 

I would buy a couple of bags of cents ($100) and a Lincoln Cent board and see how many can be filled. Loads of fun.

 

I would go with something older, bigger and silver like a Peace or Morgan silver dollar. Pick a year with some family significance so that it can be a keepsake. TC

 

What was the first coin the grandfather purchased. Mine was a 1952-d very long ago. Today, I have two grandsons and neither knows or cares what a coin is. I would get that boy a first coin purchased and then try and follow up on birthdays/etc to keep up interest. John D