Coin Collecting Pennies

Coin Collecting Pennies

It can however be an expensive hobby for people who deal in gold coins or even silver dollars. Less experienced people should probably start off with coins that are more forgiving when it comes to making mistakes. Consider the Indian Head penny, which is popular with a number of collectors. The Indian Head penny was minted from 1859 through 1909 so all of the pennies in this series are over 100 years old. From 1859 until 1907, Indian Head pennies were only made at the Philadelphia Mint. During the last two years of production, 1908 and 1909, they were made at both the Philadelphia Mint and the San Francisco Mint.

A closer look at these coins reveals a fascinating history. During the Civil War, some types of metals were in short supply. Although Indian Head cents were commonly used in daily transactions, people began hoarding them because of their copper-nickel composition. This pretty much caused the inventory of Indian Head pennies to disappear from the marketplace.

To compensate, merchants began issuing their own bronze tokens to replace them. The government stepped in and banned this private currency and in turn began issuing the Indian Head cent in bronze. Nickel was never used again in pennies once the government changed over to bronze in 1864. Copper was not returned to the composition of the Indian Head cent until after the steel penny days of World War II.

The purchase of a coin guide from your local coin shop or book store can help you start identifying which coins are worth keeping and which ones are better to use at face value. Start small with pennies and quarters and then work your way up. Your number one asset will be your diligence in checking coins as they come into your possession.

Coin Collecting Pennies