How to Start a Coin Collection...in 2024

Silverpicker Digest - Issue #15

Author

Max Hockley
December 08, 2023

Continuing last week’s theme of the approaching new year, this week’s newsletter is all about fresh starts and new beginning.

In this case, I’m talking specifically about starting a coin collection in 2024 in the fastest and easiest way possible.

More than a decade’s worth of experience as a numismatist has gone into this week’s video, so be sure to check it out.

But first, pop quiz, hotshot (answer at bottom of email): Which coin was the first to sell for over a million dollars in a public auction?

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When I started collecting coins, I wish I’d had a YouTube channel and newsletter I could follow to guide me through the process.

Well, those of you starting out now get exactly this, as I share the four steps to building a coin collection worth its weight.

Check it out:

This week’s question comes via Reddit:

Well, while the US Mint has no immediate plans to discontinue the penny, there’s a good argument to say that the penny’s value is less than the cost of producing it.

The U.S. is not alone in facing the challenge of a low-value currency unit. In fact, the country has already discontinued a similar coin, the half-cent piece, in 1857 due to rising copper costs. Canada, Australia, and Switzerland have also taken steps to phase out their lowest-value coins in the past.

My personal opinion? It’s hard to see pennies remaining in circulation in the long-term. Aside from there being virtually no value to the penny, credit cards and other cashless payment options mean there’s simply no need for pennies.

✅ Buy with confidence: Check out my deep dive review of Apmex!

Pop quiz answer: Well done, those of you who got it - you go straight to the top of the class. The answer is, of course, the 1913 Liberty Nickel, trading for a whopping $1,485,000 in a 1996 auction.

See you next week!