Coin collecting is a popular hobby and passion for millions of people. It is part of a broader study known as numismatics, which is the study or collection of currency, including coins, tokens, paper money, medals and related objects.
If you are interested in numismatics, including coin collecting, or have been a casual coin collector and want to know more about the practice, join us in this multi-part series, “Welcome to Numismatics.”
The Basics
Collecting coins and other currency is a rewarding hobby that can be done as an investment or simply because of an interest in history or money.
Anyone can begin collecting coins or paper money with the currency they encounter every day. Or you can get a coin roll from your local bank and search for any interesting finds. From there you might begin to buy coins that are of particular interest to you.
You can buy from other collectors on sites like eBay, or from coin dealers, such as CV Coins & Collectables. You can also join a coin club, such as the Chula Vista Coin Club.
Some concepts that you’ll want to familiarize yourself with, include:
- Obverse: The front side of a coin, also known as “heads.”
- Reverse: The backside of a coin, also known as “tails.”
- Edge: The outer border of a coin, which can be plain, reeded, lettered, or even decorated.
- Mint Mark: A small letter or symbol on a coin used to identify where a coin was made. For example:
- The Mint mark “D” applies to coinage years 1906 to date made in Denver
- The mint mark “W” applies to coinage years 1984 to date made in Westpoint, beginning with the $10 gold eagles to commemorate the 1984 Olympics
- Circulating Coins: Circulating coins are made to be used in everyday life while buying and selling goods and services.
- Uncirculated Coins: Uncirculated coins are produced for collecting. They are generally produced with a more brilliant finish than circulating coins.
- Proof Coins: Special early samples of coins, which are produced with a mirror-like finish.
U.S. Currency
Since most of the coins you’ll come in contact with are U.S. coins, that’s a great place to start when starting your collection.
While looking through the coins you come across every day or by getting a roll from the bank can be fun, there is an entire world of coins from the earliest days of America.
When looking at the earliest coins used in America, they were foreign coins, as you might expect. English, Spanish, and Spanish-American coins were the most common, although many other varieties circulated.
Spanish-American New World Coins
There were numerous Spanish-American coins minted throughout the Americas from the 1500s through to the 1800s.
Cob Type
| VG | F | VF | EF | |
| ½ Real (1556-1773) | $40 | $90 | $150 | $400 |
| 1 Real (1556-1773) | $60 | $125 | $200 | $450 |
| 2 Reals (1556-1773) | $90 | $175 | $300 | $625 |
Pillar Type
| VG | F | VF | EF | |
| ½ Real (1732-1772) | $30 | $50 | $150 | $175 |
| 1 Real (1732-1772) | $40 | $90 | $125 | $200 |
| 2 Reals (1732-1772) | $50 | $100 | $150 | $300 |
Bust Type
| VG | F | VF | EF | |
| ½ Real (1772-1825) | $15 | $25 | $40 | $110 |
| 1 Real (1772-1825) | $20 | $35 | $60 | $125 |
| 2 Reals (1772-1825) | $35 | $60 | $100 | $200 |
British New World Coins
The first British coins minted in the new world were issued around 1616 and were made of brass or copper and lightly silvered. They featured a hog on the obverse and were called Hoggies.
Hoggies
| AG | G | VG | VF | |
| Twopence (Large Star between Legs) | $4,500 | $10,000 | $15,000 | $35,000 |
| Twopence (Large Star between Legs) | $4,500 | $10,000 | $15,000 | $40,000 |
| Threepence | — | — | $35,000 | $90,000 |
State-issued Coins
As the colonial states developed, they often issued their own coinage, authorized by the British Crown. In 1773, Virginia issued a halfpenny made of copper.
Virginia Halfpennies
| G | VG | VF | Uncirculated | |
| 1773, period after GEORGIVS | $25 | $50 | $150 | $1,400 |
| 1773, no period after GEORGIVS | $35 | $75 | $250 | $1,600 |
Pattern Coins
When a government or other official entity wants to introduce a new coin, they will often create what is known as a pattern coin in order to test the design. They are also sometimes called experimental or trial pieces.
After the formation of the United States, the government had to create its own currency. The first coins struck by the United States were the Nova Constellatio patterns in 1783.
Nova Constellatio
| 1783 (Bit) “100,” Silver, Decorated Edge | $97,500 (1979 auction) |
| 1783 (Bit) “100,” Silver, Plain Edge | $705,000 (2014 auction) |
| 1783 (Quint) “500,” Silver, Plain Obverse | $1,175,000 (2013 auction) |
Begin Your Coin Collection
This is a small selection of coins from the early period of the Americas and United States. The Red Book is a great source for a fairly comprehensive list of coins, and is recommended for beginners.
CV Coins & Collectables has a wide collection of coins for the beginner collector. If you are looking to get started and have any questions, please contact us at (619) 427-9154 or through our contact page and we’ll be happy to help you get started with your coin collection.
Check out the other parts in this series:
- Part 1: An Intro to Collecting Coins and Other Currency
- Part 2: Half Cents and Large Cents
- Part 3: Proof and Mint Sets & Commemoratives
- Part 4: Indian and Lincoln Cents
- Part 5: The Forgotten Coins: A Look at Two Cent and Three Cent Pie
- Part 6: Silver Eagles and Commemoratives