The Coin Collecting Den

Continuing the theme of collecting on a budget, I’d like to take a look at the US presidential dollar set that is currently in process. Beginning in 2007, the Mint began releasing dollar coins with the names and faces of past US presidents. Four are being released each year, with ten released so far, and 41 total currently scheduled through 2016.

Reasons to collect Presidential Dollars:

• Just like the state quarters, the dollars are being released in order of the presidents, beginning with George Washington. Another great educational opportunity for kids to learn about our presidential history!
• Dollar coins can be obtained at your local bank as they are released to make sure they are in great condition.
• The set will be continuing for a number of years, so the annual investment is small, and there will be more to look forward to for quite a while!
• Budget: 41 presidents = $41, one from each mint would be $82. Add a folder and you’re looking at about $90. While more than the quarter set, this expense can be spread out over a number of years, and $8 per year for the presidents is very manageable.

So you’re interested in starting a coin collection? Great! Collecting can be a fascinating, and potentially profitable, lifelong hobby. But for many would be collectors, including myself, while the spirit is willing, the wallet is weak. In this post, I’m beginning a series on ways to get into the coin collecting game on the cheap.

One popular and easy way to start collecting coins is the U.S. State quarters. This series began in 1999 and continues through the end of 2008, with each state getting its own unique design. In 2009, six additional quarter designs were released for Washington D.C. and the US territories of Puerto Rico, Guam, American Samoa, the US Virgin Islands, and the Northern Mariana Islands.

The US quarters set is a great way to start for several reasons.

• Since the quarters were introduced in the order of states joining the Union, they are a great educational opportunity for kids to learn about the 50 states, as well as the often overlooked territories.
• The quarters are recent, so they are all in circulation. This makes them much easier to find compared to older collectibles. A quick search of your change or a roll of quarters from your bank is all you need to start!
• While easy to start, there are still enough different quarters to collect that the set won’t be completed in a day or two. Part of the enjoyment of collecting is finally finding the piece to complete a set, and collecting all 56 designs will take long enough to feel satisfying!
• Budget: 56 quarters is only $14. Double that to $28 if you decide to collect one from both the Denver and Philadelphia mints. Add a few more dollars for a nice folder to keep them all in, and you’ve started a great new hobby for less than $40!

US quarters are only one way to get started collecting on a budget. My next post will cover another great beginner set: the Presidential Dollars.