Looking for affordable cheap coins for your collection?
I have been writing more and more about how people can enjoy the hobby of coin collecting without spending a fortune.
It’s true — as the economy has gotten harder for some of us, our pockets have gotten a little shallower.
Because we have to spend larger amounts of money for things like gas, food, and the mortgage bill, many of us have been left with less money for enjoying our hobbies.
However, in life, we still must have fun!
Fortunately, coin collecting on a budget can allow you to still enjoy the pastime without breaking the bank.
Today, I want to share with you some coins you can buy for — are you ready? — under $5 apiece!
Yes, there are some really great coins you can purchase that won’t cost you more than 5 bucks each to buy.
6 Types Of Coins You Can Buy For Under $5
I bet you will be surprised at what $5 can buy you in the hobby of coin collecting.
Consider some of these cheap coins…
#1 – Indian Head Pennies
Indian Head pennies were made from 1859 to 1909.
Some Indian Head pennies (like many of the issues struck during the 1860s and 1870s) are very expensive even in very low grades.
However, issues from the 1880s on through the 1900s can be had for less than $5 each.
Be picky! A lot of Indian Head pennies have been cleaned, scratched, corroded, bent, and otherwise damaged.
But you can easily buy a nice, problem-free example in lower grades for under $5, so don’t necessarily settle for the first Indian Head penny you see.
My best TIP: When hunting for Indian Heads under $5, watch out for environmental damage hiding in the feathers. A lot of budget-friendly ones have tiny green spots of corrosion or have been harshly scrubbed with wire brushes. You want natural brown patina, not shiny, artificially cleaned copper!
#2 – Wheat Pennies
While still findable in circulation, the newest Wheat penny is now over 50 years old and is becoming scarcer and scarcer with each passing year.
Some famous issues like the 1909-S V.D.B., 1914-D, and 1931-S are relatively rare and quite expensive.
Wheat pennies, made from 1909 through 1958, have a few dates which can cost an arm and a leg (or at least a pinky and a big toe).
However, the vast majority of Wheat pennies are available for less than $5 each — and most from the 1930s on through 1958 can be had for between 10 cents and $2 apiece.
Even 1943 steel cents, which many readers ask about, can be had for less than $1 apiece in worn grades.
So those are some great cheap coins to start with!
By the way… those zinc-coated steel “war pennies” are a blast to collect. Just remember: because they’re magnetic, some people try to make fake ones by plating normal copper cents. If you find one, give it a quick test with a kitchen magnet to make sure it’s the real deal before spending your cash!
#3 – Buffalo Nickels
Buffalo nickels, like Indian Head pennies, have a special, even romantic, following which continues on to this day.
Buffalo nickels (which were struck from 1913-1938) can be had for less than $5 each in worn grades.
The least expensive buffalo nickels are those from the 1920s and 1930s, with the dates from the mid-1930s costing the absolute least.
My best TIP: Next time you’re digging through a bargain bin of cheap Buffalos, flip it over to look at the back of the neck. If that third small feather is completely gone (leaving a totally smooth space between the back of his head and the large braid ribbon), you’re holding a highly collectible die-clash variety. They exist across multiple years (like 1917, 1920, and 1921) and can turn a 5-dollar coin into a $50 to $100 score!
#4 – Mercury Dimes
Featuring Miss Liberty with a winged cap (not the Roman God Mercury), the Mercury dime made from 1916-1945 is a silver coin that is popularly collected.
A few issues in the Mercury dime series are costly and scarce — but, depending on the price of silver, most of the latter dates can be had for right around $5 each.
The least expensive dates are those from the 1930s and 1940s, but most years can be had in the lowest grades for about $4 to $5 (or less).
My best TIP: See if you can cherry pick a 1945 Micro S Mercury dime… This is a rather scarce variety from the last year of the series. It is sometimes overlooked by coin dealers and sold as a regular 1945-S Mercury dime. It’s worth closer to $7 to $10 in well-worn grades, and finding a cool variety like the 1945 Micro S Mercury dime is the ultimate thrill of the hunt!
#5 – Bicentennial Coins
When the United States celebrated its bicentennial in 1976, the U.S. Mint honored our nation’s birthday with 3 special designs on the quarter, half-dollar, and dollar.
Bicentennial coins can be easily found at most coin dealers. While the complete set of 3 copper-nickel clad Bicentennial coins cannot usually be purchased for less than $7 to $10, you can easily find each of the coins separately for $2 to $3 apiece.
By the way, Bicentennial coins were made from 1975 through 1976 — which is why you will never see a U.S. quarter, half-dollar, or dollar coin dated “1975.”
The Mint actually spent most of 1975 and all of 1976 cranking out dimes, quarters, and half dollars with nothing but those Bicentennial reverses to handle the massive demand. If you want a real budget challenge, try tracking down the silver-clad versions sold in special collector 3-coin sets!
#6 – Kennedy Half Dollars
While you may not believe it, Kennedy half dollars are still being made. They just aren’t seen in circulation anymore.
Come to think of it, has any collector ever really seen a Kennedy half dollar made after the early 1980s with any wear? I know I haven’t.
Anyway, Kennedy half dollars are great coins to collect — because there really are no expensive regular-strike Kennedy half dollars. In fact, there are few Kennedy halves in the series which cost more than $5 each in uncirculated grades.
Kennedy halves were first minted in 1964, and until 1971 they contained some silver:
- 1964 half dollars are 90% silver.
- 1965 to 1970 half dollars are 40% silver.
- 1971 to present half dollars are copper-nickel clad.
From 2002 through 2017, the Mint didn’t make half dollars for general circulation, producing them strictly in lower mintages for collector sets, rolls, and bags. That’s why if you find a shiny Kennedy half dollar dated anywhere from 2002 through 2017, chances are it was pulled out of a mint set or other special product sold only to collectors!
The Bottom Line
So there you go…
Six different budget-friendly types of coins that you can buy to build up your coin collection without spending a fortune!
What’s the single coolest coin you’ve ever scooped up for $5 or less? Let me know in the comments below.
Leave a Comment