Starting a vintage silver coin collection may feel daunting. The numismatic world is wide and offers a wide range of coins in a multitude of pricing tiers. By starting with a strong understanding of the basics and setting goals, you will be able to avoid some of the pitfalls of beginner purchases and make smart buying decisions.
What are Vintage Coins?
While the timeframe may change depending on who answers the question, vintage coins are generally coins that are several decades old. If you plan to collect United States coins, many collectors consider coins produced before 1965 as vintage and those more than 100 years old as antique. If you are collecting Canadian coins, the timeframes are similar, as the Royal Canadian Mint and the United States Mint stopped issuing predominantly silver coins in the mid-60s.
Vintage coins are a tangible connection to history. Their designs and appearance reflect an older time and provide cues about the culture, economy, and art of a different era.
Before You Start Collecting
Learn the Basics
Utilizing books, videos, and articles online, learn about the distinct kinds of coins, from denominations to mint marks, designs, and more. Learn the terms associated with grading coins, what they indicate, and the factors that impact their value.
From bag damage to business strikes, there are many terms and concepts to familiarize yourself with. The more you understand about the vintage world of silver coins, the better your collecting experience will be. If you are unable to find conclusive definitions or unsure of some terms, search for them here in the Knowledge Center, and you will find some questions have already been answered.
Set Goals
Having learned some of the basics, determine the goal for your vintage silver coin collection. Your goals may be as lofty as collecting the full series of Morgan dollars or as simple as one coin of each type. Collecting coins is a limitless past-time, full of unique possibilities and it is what you make of it. If you collect what you admire and like, building your collection will remain a joyful activity.
After you have settled on a type or issue of coin to collect, learn what colloquial terminology is used to describe that coin and what relevant strike characters are awarded to it.
Research and Read
If you are collecting United States vintage silver coins, start reading the Red Book. If you are going to focus on Morgan silver dollars, start reading Van Allen-Mallis’ work. Dive into the numismatic world and learn about the historical context behind your coins of choice.
Go to Coin Shows
Go to coin shows and meet people who have built similar collections. The experienced coin collectors and numismatists you will meet will be able to provide a wealth of knowledge. If their booth or stand is not overwhelmed, have conversations and ask questions. Their experience will yield valuable insights about your goals. One of the other benefits of attending local coin shows is simply meeting other collectors in the area.
Building Your Collection
Start building your silver vintage coin collection. Start small by seeking out coins that match your goal. For instance, if you are building a silver Roosevelt dime collection, start with the most plentiful options, as these will have the lowest premiums in higher grades. Depending on the coin type you are collecting, there may be rolls available priced for their silver content.
Look for local coin shops, coin shows, and online markets. It will be tempting to add many, if not all, of the lower-priced vintage silver coins to your collection. If your goal is to amass the largest vintage silver stack possible, this is in line with your goals. However, if your goal is building a numismatic collection that is poised to appreciate over time, a collection that you may pass to your children or grandchildren, it is worth making slow, calculated purchasing decisions.
Store Your Collection with Care
Now that you have started building your vintage silver coin collection, it is of the utmost importance to store it safely. Never try to clean your coins yourself, as it is likely to cause irreparable damage. Before buying any holders or albums, ensure they do not contain polyvinyl chloride, which can wreak havoc on coins. Use PVC-free holders to store your coins, and make sure to handle them with gloves that protect the silver from oil in your hands. Keeping your silver vintage coins in a safe place that is not exposed to heat, moisture, or sunlight will preserve their condition for years to come.
