Since 1999, when the new state quarters program was launched, many seniors have started collecting them. Five new quarters come out at one time and it has been a big success since its inception.
Before the state quarters program started, about two million people collected coins, but by 2001, there were 125 million people collecting coins and a big majority of them are seniors. It is still very popular today. Seniors collect them for themselves, their children, and their grandchildren. It is much easier to buy and sell coins online and with declining interest rates, people are not collecting things like baseball cards like they used to in the past.
The new Buffalo nickel is causing a stir also and the collectors say it is worth more than actual money. From 1938 to 2004, the nickel didn't change but President Bush signed a law modifying it, thus creating the Westward Journey Series. They have images of the Louisiana Purchase and the Lewis & Clark Expedition on them. They have gone very fast and no more of them will be made because they are a limited distribution.
Old coins might be hard to identify or put a value on if you don't know what they're called or what country they're from. First, you must find out where they're from, if outside of the United States. The country name should be on the coin somewhere, which makes this a good project for seniors because they have the time to spend on things like this. Some seniors make coin collecting not only a hobby but also delve into researching them as well. Some really know their business and won't sell their coins until they've done extensive research to find out what they have and the value of it.
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