Is coin collecting a good investment?
When you start coin collecting, it's best to focus initially on bullion value. … These coins all contain high-grade gold or silver, making them excellent precious metal investments. At the same time, they're also handsome coins, which is an important factor for any coin collector.
Should I buy proof or uncirculated coins?
Value. Generally speaking, proof coins have a higher relative mark-up than uncirculated coins. As a collector's item, proofs can be sold for more than the value of the raw precious metals they contain. However, the downside is they cost a little more than uncirculated coins to purchase.
Can Proof coins be spent?
Most proofs have one single way they get in circulation; they are simply spent by collectors, dealers, and wholesalers who are assembling rolls or sets of proof coins. Many proofs are just substandard and these aren't included in proof rolls and collectors don't want them in sets so they get released to circulation.
How can you tell if you have a proof coin?
Proof coins, biggest sign is the mirror finish on the "fields", the flat areas and the sharpness of details. Proof coins (US) are struck twice as compared to the "business strike" which is only struck once. Another indicator is the rim, it is flat and fairly even all around, some say like a wire rim.
Why is it illegal to melt pennies and nickels?
Because of the rising price of nickel and copper that began in 2005, the United States passed a law that made it illegal to melt pennies and nickels for their metal content. Additionally, it is illegal to carry more than five dollars worth of pennies and nickels outside of the United States when traveling.
Are US Mint coins a good investment?
The US Mint also produces a range of commemorative coinage. These typically sell for significantly more than Silver Eagles because their price is not based on intrinsic metal value. … If you are investing in precious metals, these US Mint coins are not likely a good investment.
How much is a 1943 steel penny worth?
They are worth about 10 to 13 cents each in circulated condition, and as much as 50 cents or more if uncirculated.
What is reverse proof coin?
A standard reverse proof coin is one featuring an “inverted” proof finish. The background is frosted, while the design elements are polished to a mirror-like finish, creating a magnificent contrast.