Many coin collectors want to know more about expanding or improving on their coin collections. But what do you do if you’re trying to simply start a coin collection? Where do you start? How do you start? What do you need to know if you’re going to build a terrific coin set?
For so many, it all starts with deciding what to collect. And for someone who may not know that vast and diverse expanse of U.S. coins out there – not even counting world coins struck beyond the United States – the decision process can seem daunting. A look at PCGS CoinFacts will at least give you a lay of the land on what the U.S. coin catalog looks like, and this is one way many folks who want to collect coins become acquainted with the many fascinating coin series out there.
So where do you start building a collection? That’s the $64,000 question… You see, the collector – once they decide what they’re collecting – has about as many different starting points for building a coin collection as there will be coins in that collection. It’s often the case that a collector who is building a collection will divide that collection into sets, with each set oriented around a particular denomination, coin type, era, or something else categorical. It is within planning that collection in a set-building framework that deciding where to start becomes a little easier.
For example, let’s take a set that involves the ever-popular Lincoln Cents. It’s a series that spans more than 115 years yet has a few really rare coins, a decent smattering of scarce semi-key coins, and a bunch of common coins. Many collectors take one of two approaches in a situation like this: they either start by collecting the rare and expensive dates first to get the challenges out of the way while prices are where they are, or they begin with the common coins to physically build out the bulk of the set first and then close up shop with the rarities.
What do you need to know about collecting the coins you’ve chosen to pursue? Everything you can! No joke… The more you know, the better. There’s an old adage in numismatics, and it goes “buy the book before the coin.” The meaning? Study up well about what you want to collect before investing time and money into your new numismatic endeavor. Surely you can buy a bevy of books about the coins you want to collect, but even just one or two authoritative guides would do. Don’t forget that there are also multitudes of online resources that will also help you learn more about your coins, including the aforementioned PCGS CoinFacts as well as PCGS Population Report and PCGS Auction Prices Realized.
No matter what types of coins you want to collect, remember that PCGS stands at the ready to assist you with education, grading, set building opportunities, and so much more. We want to help you get the most out of the hobby and make your coin collecting journey safe, exciting, and fun.