The holidays are already upon us in 2021. With supply chain issues and with container ships and docks backed up, many holiday items are simply not going to make it onto shelves nor into online warehouses in time for Christmas this year. The pandemic changed many buying habits, and the world of collectibles saw much rekindled interest as people were stuck at home under the COVID-19 lock-down measures. It turns out that coins may be a great gift within families who like to collect.

Collectors Dashboard has come up with an idea ahead of Christmas and the Holiday Season — How to Start a Great Coin Collection for $500 or Less!

Let’s be clear about one thing here. This $500.00 limit is in no means a line in the sand. Some people may spend less, and some people may splurge for much more. It’s simply a starting point for a goal that would begin a great coin collection.

Collectors Dashboard evaluates high-end collectibles as an alternative asset class. This is capital that could have otherwise been invested into stocks or bonds. As this is an investment, regardless of whether it may rise or fall in value, our message remains firm in avoiding those commemorative and plated coins that are advertised late at night.

We have already outlined how it is possible you may have a hidden fortune in your loose change jar at home. We have also covered the 20 most valuable pennies in the world. Those may be great starting points for this effort of building a coin collection with a $500 budget.

There are many ways to build a coin collection, so this should be considered a mere suggestion box rather than a go-to guide. And again, there is no assurance that any sort of investment will only rise in value. Coins sought after by collectors have seen their share of ups and downs over the years.

MORGAN SILVER DOLLARS ($50 to $100)

Morgan Silver dollars have just under an ounce of silver. What matters here is that the price fluctuates with the price of silver. And because of high mintages, the coins in all grades are relatively affordable for anyone wanting to start a coin collection.

Examples of Morgan Silver Dollars dating back to 1878, the first year of mintage, can be obtained for well under $100.00. In fact, it’s easy to buy one of these coins that has all of its defining features for $50.00 or under. PCGS listed a MS-64 uncirculated 1880 S minted example for $140.00 back in 2020. Imagine a shiny new 141-year-old Morgan silver dollar to create a family heirloom with. (Image by BrigandiCoins)

COIN BOOKS ARE A START ($100… OR MUCH LESS)

Starting coin books can be an affordable activity. Omitting key date coins, Littleton Coin offered a 1909-1955 Lincoln Cent Collection with 2 Folders for $139.00 with 50 coins are offered together in coin books that create a numismatic start for exciting moments scanning pocket change or browsing a jug of change in the garage. Those can be found on Amazon and eBay, and there are also the Whitman coin folders and albums — but you will have to load those up yourself.

The good news about books of coins is that they frequently pop up in garage sales, on Craigslist and on eBay for far less of a cost than brand new coin books. And on top of the collectability, coin books are a significant source of educating younger coin collectors — while also highlighting the importance of the prized “key date coins.”

BUFFALO NICKELS ($10 or LESS!!!)

A timeless design in U.S. numismatics is the five-cent American Buffalo Nickel. This is a coin that can be collected in Mint State for under $20.00 for the year 1938. And even better yet, most circulated Buffalo Nickel coins will cost $10.00 or less.

These Buffalo nickel coins can frequently be purchased in bulk. They are even considered to be “coin show crowd pleasers” that can be found in piles to search through in shops or at weekend conventions or flea markets around the country. Dealers don’t keep them around because they are great profit centers — they keep them around for new and young coin collectors.

THE 1943 STEEL PENNY ($30 OR LESS)

Check out the novelty that is the U.S. 1943 steel penny. All three mint marks can be purchased uncirculated for under $30.00 according to PCGS. These coins are unique, have silver eye appeal, and make for exciting display in anyone’s collection.

What are dubbed as “1943 steel cents” are U.S. minted pennies that were struck in steel in 1943. The reason to avoid using copper or other alternative metals of the 1940s was simply due to wartime shortages of copper. World War II was in full swing and America was manufacturing weapons, vehicles and all sorts of items to fight the war for the U.S. and its allies.

The U.S. mints in Philadelphia, Denver, and San Francisco each produced these 1943 Lincoln cents. The coins have many other nicknames that they have picked up from numismatists.

ANCIENT COINS FROM GREECE & ROME ($50 to $100)

This may sound impossible to grasp on the surface, but ancient coins can make there way into even the most basic coin collections without breaking the bank. Ancient coins can trigger the imagination in a new coin collector. Many variations are found in rough shape and would be given very low numismatic grades by PCGS and NGC.

To think about ancient coins plainly, these have somehow managed to survive 1,000 or 2,000 years without being melted down for swords or to be made into other coins. They have also survived the ages long before boys and girls and moms and dads had the time, money and luxury of starting coin collections. Collectors Dashboard has profiled iconic ancient coin examples that highlight the death of Caesar, but in more affordable terms here are some recent eBay sales of ancient coinage and their sale prices:

• Ancient Greek AR silver Tetradrachm sold for $71.00 after 24 bids on November 22, 2021.
• Ancient solid silver Indo Greek AR silver 2nd Century BC sold for $27.77 after 11 bids on November 22, 2021.
• Ancient Greek AR silver Tetradrachma sold for $30.99 after 11 bids on November 22, 2021.
• Sasanian silver hammered Drachma sold for $7.30 after 5 bids on November 22, 2021.
• Slabbed Lot of 5 Ancient Roman Widows Mite sized Bronze Coins 50 BC – 400 AD sold for $20.00 after 21 bids on November 21, 2021.

COMMON SILVER ROUNDS ($25)

Silver rounds with no numismatic value exist for the current price of what silver trades at. They are common at coin shows and at gold and silver bullion shops. While they are not classic collector items in high-end collections, a silver round is a tool of understanding towards the potential for trade in the absence of other forms of legal tender.

One thing that you can count on, regardless of the price of silver at that time, is that die-hard numismatists are more likely than not to have stacks of 20-coin tubes loaded up with generic silver coins.

IN THE END……

Again, there are no assurances that the price of any collectible nor the price of any investment paid today will be higher tomorrow, next year, nor even in a decade. The sector of numismatics sits at an interesting portal in time as the digitalization of all assets bring threats and opportunity alike.