The Case For "Key Date" Coins

Above, Whitman penny album (no. 2). Photo by Armand Vaquer.

It is funny, Jeff Garrett, the author of the following article in CoinWeek, started with the Whitman album for collecting Lincoln pennies from 1941 to date starting in 1970. I started collecting them a bit earlier than he did. I still have them (albums one and two).

He has penned an article on "The Case For "Key Date" Coins". In it, he describes the collecting progression from pennies to American Silver Eagles on up to Morgan and Peace silver dollars (pretty much my pattern, except I started with Morgans after the pennies).

The article begins with:

Choosing which coin series to collect is one of the first challenges facing those new to the hobby. There are dozens to choose from, and if you include world and ancient coins, the options become nearly endless. Untold numbers of new collectors have started over the years by filling coin boards and albums. Perhaps one of these started you on your numismatic journey. Mine began with a simple Whitman folder of Lincoln Cents from 1941 to date. This was around 1970.

Today, new collectors are inspired by the mass market sales of American Silver Eagles and other modern coins. The vast sums spent marketing these coins to those who might be interested in collecting is a huge driver for growing the hobby. Like those who started with a Whitman folder, modern coin buyers often turn their attention to more advanced numismatic pursuits. This is where it gets tricky for new collectors.

For many, the natural progression is to move to earlier series of what they now collect. Some will decide to collect a complete set of Lincoln cents 1909 to date. Many of the Silver Eagle buyers will turn to Morgan and Peace dollars dated 1878-1935. Regardless of what they collect, they will then need to decide which grade range of coins to pursue. This is usually a function of budget. Buying the best grades you can afford is age-old advice that has withstood the test of time.

To read the full article, go here.