What should I know before I start coin collecting rare pennies as a hobby?

Answer by  embockjr (709)

You should have sufficient knowledge concerning the grading of coins. Additionally, it is necessary that you acquire a good catalog on coins that lists the specifics concerning value, markings, and rarity. A listing of sources for the purchase of rare coins would be valuable both for buying and selling coins.

Answer by  kaboom969 (242)

You should find out how much effort it takes to find those rare pennies and see if you have the time to go and collect them. Also you have to consider your personal financial situation to see if you can afford to obtain those rare coins, because some of them do cost quite a lot.

Answer by  nate33 (62)

Before starting coin collecting rare pennies as a hobby, set short term and long term goals for yourself. Realize what country coins you would like to collect, the rarity and year of coins, and the amount you would like to spend

Answer by  ThomasDenholm (72)

Like anything else knowledge is your most powerful tool. Doing extensive research into rare coins will help you identify them and also will protect against being conned. Going to trade events and starting with the less rare artefacts will allow you to participate and learn with less risk.

Answer by  Olive (1195)

Why are you collecting pennies? Is it for business or pleasure? In either case, research pays off. Start with a trip to your local library. If there is a coin dealer nearby, get to know that person. Finally, look for web sites to learn more and make penny world contacts.

Answer by  Phantasmality (36)

Ideally, you'll want to learn what years had misprint pennies or what style of penny is rarer than others and what year the penny was made of different metal.

Answer by  brianadragon (78)

Before beginning to collect rare pennies, you should know how and where to find them. You should also know what pennies are truly valuable, and what effect the condition has on the value. You should also make sure you have the ability to properly care for and store the coins.

Answer by  Baobao (1273)

It is very time consuming and people around you may do not understand your activity,meanwhile you should have some knowledge of telling real pennies from fake ones.

Answer by  MadRabbit (59)

The first thing is to find a good book, or a good online resource, to do some reading. There are several different kinds of pennies to research.

Answer by  Jessie124 (1885)

Everything you'll need to know is at the library. Coin collecting is an old and very popular hobby and there are countless books on it. Take a notepad and spend an afternoon at the library filling it up with knowledge. You'll be an expert before you know it.

Answer by  Chrisme (94)

First and most important you should do a google search about selectable destinations, most like popularly spots where coins have been found or area that are know for coins. Secondly you would want to invest in a really good metal detector. Try searching for coins with a partner to cover a wider area.