Top 10 Coins for New Collectors

If someone came to you who wanted to start collecting coins and asked you for advice of what to start with. What would you tell him or her?

I was trying to think of the top 10 accessible (generally affordable) coins that have a coolness and wow factor. U.S. coins with a broad based appeal to both the budding collector and to those lay people the collector might show his or her collection.

I have generally focused on type coins here but did throw in a set. I set a budget on items in the list in the $10 to $100 range, however I did extend that to $190 or so for item #10. So it’s more applicable to those that have jobs (at least a summer or part-time job) and not so much for kids on an allowance.

#1. American Silver Eagle

Must have one of these as exquisite coins as a type. They are large, beautiful, and very affordable. If you are going to spend the money, pay a little extra and get one of the lower mintage years from the mid 1990s (1994, 1995, 1996 (key), or 1997). Or you can buy a proof from the U.S. Mint for the current year. Being a 99.9% silver coin, some older coins get very interesting toning patterns. These can be had in the $40 to $60 range, generally.



#2. Morgan Silver Dollar

A must-have coin for every collector. This is one of the most popular and collected series in the U.S. Every collector should try to get one brilliant uncirculated coin or perhaps one with interesting coloration (toning), but make sure any toned coins have been blessed as "natural" by one of the top thrid-party grading companies (PCGS or NGC). You can get nice PCGS or NGC graded mint state Morgan’s for less than $80. There is just too much history and beauty to ignore this type.



#3. Buffalo Nickel

One of the most recognized and loved type coins of the 20th century. It’s a great representation of a lost era of American history. A very affordable coin in lower grades, easily less than $20.



#4. Mercury Dime

One of the great designs of the 20th century. Fantastic mint state examples can be had for less than $30.



#5. Walking Liberty Half Dollar

It’s interesting to show where the design on the American Silver Eagle came from! This coin sports a great obverse and reverse. Less than $50 for nice examples.

 

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#6. A Recent Silver Proof Set

For $60 you get a pile of coins (as many as 14) in Proof condition, a number of them silver, along with five of the popular State Quarters, a Sacagawea "Golden" Dollar, four Presidential "Golden" Dollars, Kennedy Half Dollar, Rosevelt Dime, the new Jefferson Nickel, and the new Lincoln Shield Cent. This is hard to beat for bang for your buck (at about $4 per coin average)! I selected a silver set here rather than a copper/nickle clad set because the price for a silver set is not that much more than the clad, and I always found silver makes the coins so much more beautiful (plus you get over an ounce of silver from the coins, which could help with price appreciation on the set in the decades ahead). Seeing pristine examples of the spectrum of coins in the set could help spark your imagination and help you decide if you want to collect the complete series of any of the coin types in the set.



#7. Indian Cent

One cent coins are the most widely collected denomination; and having the design previous to the 100 year old Lincoln Cent is a must have. You can get these very cheaply.



#8. Standing Liberty Quarter

This coin definitely has a coolness factor. It just smacks of the art deco culture pervasive in the roaring 20’s. A very short-series, minted only from 1916 to 1930. Higher grades can get pricey, but lower grades are very affordable.



#9. Pre-1954 Commemorative Half Dollar.

Let your imagination run wild. Many of these have very low mintages and are fairly affordable. If you are not sure where to start, take a gander at the Texas or the Oregon Trail two of the more beautiful designs in the series. Prices start around $100. Peruse a Redbook of U.S. Coins and pick out a design that speaks to you.



#10. One-Tenth Ounce American Gold Eagle

Every U.S Coin collector should have at least 1 gold coin (just to say they own some gold) and these 1/10th ounce American Gold Eagle coins provide about as cheap a way to get a legal tender U.S. gold coin as any. Plus it gives you a sample of arguably the most beautiful coin design ever produced -- the Saint Gaudens design that was used on the Twenty Dollar Gold Pieces of the early 20th century. Getting a Proof version of this type from the Mint is a great way to go. You spend less than $200 for some gold and at the same time get a coin showing that stunning St. Gauden’s design. As a final note, getting an example in Proof condition from the U.S. Mint often gives the coin a cameo appearance making the design more visible on this small coin (about the size of a U.S. Dime).



Summary

So for a bit over $500, one would have a great start to a very diverse collection with some great types sporting a wow factor. A beginning collector (depending on age (i.e. budget)) might be able to put something like this together in a few years with the help of a part-time job. It was definitely hard picking just 10 -- My #11 and #12 would have been an early wheat backed Lincoln Cent and a Peace Dollar. Sill I think this short set would provide a good basis for someone to decide where they wanted to focus their collecting interest.

What’s your Opinion?

So what do you think, would you have a different top 10?

Addendum:

See page 2 of this thread for the addition of coins ranked #11 and #12 in series, these were added by popular demand. For a direct link to #11 & #12, click here ... http://www.cointalk.com/t175198-2/#post1182282

 

*Top 10 USA Coins for New Collectors*

 

well this is the "U.S. Coins" forum ... so i didn't think i need the qualifier!

 

I think that's a very good list!! Not sure what I would add, but I want to hear what other people have to say.

 

I like the list and overall I agree with it. The only one I don't think is a "must" is the silver proof set. I think even a recent clad proof set is a great thing for a new collector to have. I have personally been collecting US coins for 15 years and have never owned a silver proof set.

 

Interesting list, but it misses 2 of the 3 most popularly collected coin. There is no Lincoln cent there (#1) and there is no state quarter there (#3).

 

I'm a new collector. I wouldn't have any interest in half of those coins. It's such a hodgepodge of different coins with no connection between them.

I'd rather build a collection where the coins have some personal meaning and they are tied together in some way (for example, dates or events in history) and then search out all the information on coins within that field.

 

rlm. There are 5 state quarters and a lincoln cent in the proof set! yes maybe old wheat-backed would be a good addition

 

I vote for having at least one modern commem........

But, overall, I like your selections WingedLiberty.

 

If someone came to me as a new collector, I would advise them to collect whatever is in circulation. If they go that route and enjoy what they have, then your list would be a great next step.

 

+1

 

That's what a type set is: one of each. All that changes are one's parameters: gold or no gold, limited to 20th C coins, limited to pre-1965 coins, no proof coinage, commems or no, etc.

Winged, I'd say what you have is the beginning of a 20th C type set (provided the IHC and Morgan were 20th C).

I'm a type collector but personally don't collect gold or proof coins, or commems for that matter (although all of these can be quite beautiful). That's the beauty of collecting: you can collect whatever you want!

 

I also have some proof sets, but I collect Lincolns. They are not the same.

 

i like the list, however, i would take out the bullion and put in peace dollar and lincoln cent.

 

Yeah, the list and photos are good because the new collector would see some different types of coins and maybe come up with an idea of what appeals to them.

 

Nothing "Wrong" with the list.....BUT.....

I would like to introduce a variable:

New collector vs Investor vs YN.

Over 50 yrs ago I began "Collecting" coins, ie, ones set aside to spend later and back then I didn't even know why. I just liked the different ones and kept them different.

Well, it is now Later for me and I am now "spending" the ones I have duplicates or better examples in my collection.

These include coins currently sought after for different reasons than when I 1st set them aside.

But, IMHO, a new/YN collector might consider searching the coins they already have or encounter in their everyday life. The Lincoln series, Westward Journey nickels, States Quarters, small dollars, WAM's might be escalated to the 1909 VDB's & '55 DD's, extra leaf WI's, or "Godless" Washington's of the future if you just look at what you've got/get.

Then again, I just might be just presenting an alternate view and wreaking the thread.

But when I was wrong back then (I have converted loads of 1943 LWC's into a few Morgans/SLQ's and other stuff on the 1st list) I had the pleasure of learning from my mistakes or getting better examples of the the ones I've become to desire.......or spent at the value I acquired them.

I just wanted to introduce the concept of different strikes for different types.:devil:

 

I think the Lincoln chronicles set should be number 9 in the list.

 

oops...about a dozen folks posted while I was typing my reply.

We're all right, I think, for different reasons is all I wanted to say.

 

A good way to progress out of the State Quarters.

I might add wheat pennies and indian head pennies to that list, and remove gold. It's your list though