Perhaps you have asked yourself how much collectors would want to invest in a wheat penny. Before going into the details of penny collection, it is advisable you find out about the values of these pennies say you decided to sell them at some future date. However, keep in mind that you should not allow these pennies to completely deteriorate to ensure you achieve the highest price for your pennies.
The value of a penny grows with time
Most pennies of the late 19th century had a 3000% increase in their retail price from 1967 to 2007. You should expect a good return on your collected pennies when they age over a period of time. If your desire for penny collection has driven you to purchase some and quite rare pennies that are known as key dates, then expect to get up to a hundred thousand times its original face value. In present’s market, you can expect wheat penny collected to fetch you good money, especially if you are fortunate and your wheat penny collection comprises of a 1914 D wheat penny coin. This can fetch you whooping hundreds of dollars.
Reasons for penny collection
Penny collection may either be a consequence of your love for exclusive memorabilia or because you would like to make profit from such an endeavour. However, it is a fact that most people who are into penny collection simply choose to collect lots of different pennies, keep them and show them off to friends and family. Some even passed these pennies from one generation to another. Indeed, the hobby of collecting penny brings delight and fulfillment to a determined penny collector. The majority of avidly and constant look out for rare pennies give them (rare pennies) a valuable place among cherished penny collection.
How to start penny collection
Although it may be hard getting started with penny collection, by following the tips below, you will be on your way to having a coin collection per excellence:
By doing so, you will not only feel the thrill and excitement of roll hunting but may also realize a number of interesting facts essential to coin collecting knowledge:
Based on my experience, no more than 25% of pennies in circulation are below 1982 (last date pennies were made of 95% copper) and less than 1 out of 250 pennies were minted in 1958 or older (last date of wheat design). In other words, you can’t rely on your pocket change or the bank to complete your entire collection. To do so, you need to set a budget to buy unsearched rolls or bags from established coin dealer such as www.stores.ebay.com/uspennycollection or directly buy your specific coin through www.uspennycollection.com