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Collecting Modern vs. Classic Coins

March 5th, 2012 Coins

There are three overarching types of coin collectors - those who collect classic pieces, those who focus on modern coinage and those who dabble in both. If you're just beginning the hobby, you may be trying to figure out where you should focus your efforts. Although having a mix of classic and modern coins can be rewarding, you may have an easier time building a cohesive collection if you focus your efforts on one or the other. Here's a quick primer on what's involved in collecting classic and modern coins.

1. Modern coins. According to CoinWeek, contemporary coins encompass anything that has been produced after World War II. One of the main draws of collecting newer pieces is that they tend to be less expensive, save a few standouts. These coins haven't been around as long, which means you can find some great bargains if you know where to look. The source points to a few relatively recent Morgan dollars as an example of coins that are generally regarded as undervalued. Your collection may not have as high a price tag right off the bat, but you may enjoy an incredibly valuable set of coins several years down the line.

2. Classic coins. The main appeal of classic coins might be in the rich history that a number of pieces have. Classic coins can come with a great story and are also likely to have been traded more frequently, which means their prices are probably more stable. Although these pieces are more expensive, their value is easier to gauge. There's a certain amount of risk involved in collecting contemporary coins, since they may lose value that's never recovered.