24/11/2021 by Josephine Coins
A Beginner's Guide to American Coins
The US is known for its long and colourful history of coins. Even now, there are a lot of valuable coins in circulation. That is why there are a lot of people who enjoy collecting American coins.
But to be a good coin collector, you must first know what coins are there to collect and how much their value is. If you want to ensure you have the finest collection of coins from the US, here is a guide you need to check out.
The Beginning of American Coins
Trading has been part of American history long before the world knew what it was. But it wasn’t until 1792 that the United States government established the first coinage act. The first coins to be minted at that time were the half-cent, cent, half dime, dime, and more.
A lot of coins were minted in small amounts before they were legalized. It is said that the material used for the first few minted coins were from Martha Washington’s silverware. In the early stages of these coins, they used to be made entirely of precious metals like silver and gold. Coins made of these metals were of high value.
But as resources started to run out, it became clear that the use of these metals was not sustainable. That is why the coins of today are made of copper, nickel, and other common metals. Over time, the coins had changed in value.
There are also old coins that were discontinued and made into commemorative pieces. These are pieces that are most likely to attract collectors. In fact, the US government ordered to have some of these destroyed. Some of them became collectible or commemorative coins since there are only a few left in existence.
Coins to Collect
When it comes to American coins, there are a lot of pieces you should add to your collection. These coins may differ in value, but they all share one thing in common. These historic coins give your coin collection more range.
If you consider yourself to be a coin collector, here are some US coins you should try to get your hands on:
1909-S V.D.B. Lincoln Cent
Before 1909, the one-cent coin design used to be that of an Indian head. But to commemorate President Abraham Lincoln’s 100th birthday, the coin was changed to an image of the president. This coin was an instant hit to the public. But because of an error in minting, only 484,000 new Lincoln pennies were made.
1794 Flowing Hair Dollar
The first dollar coin in the US, this coin was based on the Spanish dollar. Around 140 to 150 of this coin remains today. In today’s market, this coin can be valued at 40,000 dollars. But it can increase based on the condition.
1913 Liberty Head Nickel
One coin that is hyped by collectors all over the world is the 1923 Liberty Head Nickel. This was also called the V Nickel because of the large V it bears on its back. Controversy hounds this coin because officials failed to place the word cents on the coin. This led to scammers platting this coin gold and passing it off as five-dollar gold coins. It is said that only five pieces of this coin are left in existence.
1921 Peace Dollar
Another collectible dollar coin is the 1921 Peace Dollar. The idea of this coin was to commemorate the peace that followed the “Great War”. The design of this coin was so detailed that it was difficult to strike properly. It wasn’t until December 1921 that these coins were minted. This late start left limited time for production; thus, not a lot was made of this coin. Although considered a rare coin, you can get your hands on this for a fair price.
2004-D Wisconsin State Quarter with an Extra Leaf
Many collectors argue about the real value of this coin, but it is still worth collecting nonetheless. Remember that the Wisconsin State Quarter should only have one leaf in its design. If you find your pocket change to have an extra leaf, you have a coin with a valuable error.