Coin collectors are always on the lookout for ways to get free coins for their collection. As it turns out, one of the easiest ways to do so is also one of the cheapest. Especially when first beginning a collection, using this cheap and easy method of obtaining free coins can really save you money when developing a large and solid investment.
Obtaining Free Coins
Buy some coin folders if you do not already own a few. The folders that you purchase will depend on the denomination of coins you are seeking. Folders with removable windows are best if you wish to be able to fully protect your coins and view both the front and back of them. They are, however, more expensive than the simple folders with open coin slots.
Set aside $10.00 to make your first investment. Although money is required to begin this process, the actual coins you collect will only cost you their face value.
Visit your local bank and request any amount of coin rolls that you wish to purchase. Pennies are best when you first start because the rolls are only 50 cents each. With a $10.00 investment, you will be able to purchase 20 rolls.
Look through the coins that you purchased and pick out the ones that fit in the open slots of your coin books. Set aside any coins that you do not wish to keep or already own. Always be on the lookout for older coins and coins that have malfunctions on the front. In 1984, the Lincoln penny was printed with two ears on one side. Finding this coin can net you a tidy profit or enhance your collection.
Return the coins that you did not use to the bank for cash. You may use the money to buy more rolls of coins to further build up your collection. If you inform the bank teller that you are a coin collector, they will be understanding and might know of some specific rolls that will be more likely to contain the coins for which you are looking.
- $10.00 investment
- Coin folders
- Local bank
Spread out your coin roll purchase. If you bought pennies one day, try buying nickels with the money you obtained by returning the pennies. Keep some extra storage materials handy in case you come across a rare or valuable coin.
You will likely use up most of your first roll of coins when you first begin a collection. However, each additional roll will usually contain less coins that you need. Obtain your coin rolls from a bank where you hold a checking account as this service is free to bank members.