A good numismatic education is valuable regardless of why you buy coins.
Since coins are priced based on their scarcity and condition it is crucial to
understand exactly how scarce and well preserved a particular coin really is.
That point is particularly important if you are just starting out in this hobby.
If you become expert on a particular issue you can sometimes find yourself in
a position where you know more about a coin than the dealer who is selling it.
Sometimes you can find scarce varieties priced the same as more common examples.
It is fun to keep up with the latest happenings in the "Coin World".
Periodicals can help remind us of upcoming shows. They are also a great way to
stay in touch with what the US Mint is planning.
"A
Guild Book of United States Coins" is commonly known as
the Red Book because of its red cover. This is the one must have book for
all collectors. This is the first book you should buy if you are new to
the hobby or have just inherited a collection and want to learn what you
have.
All US Coins are listed in this book. There is mintage information
for each coin listed by date and mint. The pricing information is not very
accurate but serves to show which dates are more expensive than others.
Many coins take a huge jump when going from a particular grade to the next
higher grade and you can learn that from this book.
There is a description of what details are important when grading each
type of coin. All in all there is a ton of easily accessible information
here.
This huge book is invaluable when trying to identify
non-US coins minted during the 20'th century. It is a must if you collect
world coins and useful to US collectors who will eventually be asked to
identify a world coin by their friends.
The Professional Coin Grading Service is one of the most
respected third party coin authentication and grading companies. Here is a
comprehensive description of the standards they use. This is required
reading for anyone who plans on submitting coins to PCGS for grading.
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