The first thing to remember about coin collecting is…it’s a hobby. Hobbies are pursued because people derive pleasure from them. Put simply, it’s fun. After a day of hearing news reports of skyrocketing unemployment, declining home values, and stock market fluctuations, everyone needs some fun. Even with all the bad news, most collectors still want to collect. If you’re on a budget, then this article is for you. When I sat down and thought about this article, I decided to concentrate on four criteria for a ‘Best Buy on a budget’. Here they are:

1. The set would be hard to build one coin at a time.
2. The coin or set has a low mintage and a low price.
3. The coin or set is historically significant.
4. The coin, set or series is out of favor right now…in other words, collector apathy. If a coin or set met one or more of the criteria on the list, then it was a ‘Best Buy’. The next few paragraphs will list our top ten budget buys.

Best Buy #1
BU Lincoln Memorial Cent Sets
This set was chosen because it is next to impossible to build one coin at a time. Here’s why…billions and billions of these coins were made between 1959 and 2008 when the series technically ended. And, for the most part, they were placed into circulation, not kept as BU. Since each individual coin is of relatively low value, dealers don’t sell these one at a time. It isn’t worth the trouble. You would have to buy over $500 worth of rolls to break up to make! The Bicentennial year 2009 was a one year 4-coin type set, and the coins minted in 2010 and for the foreseeable future will be the ‘Union Shield’ type. But just try to find a 1974-S cent in circulation let alone a BU specimen. These BU sets are economical, coming in well under $75.

Best Buy #2
Binion Silver Dollars
The famous Binion Silver Hoard was discovered, slabbed and dispersed a decade ago. There will never be any more coins slabbed and, as always, the supply diminishes over time. Binion Dollars made the ‘Best Buy’ list because they are historically significant and many coins carry very little premium over ‘common’ dollars.

Best Buy #3
1993 Premiere Proof Sets
These sets are truly ‘sleepers’. They make the ‘Best Buy’ list due to the low mintage and low price. The Premier Series ran from 1992 through 1998 and the key date 1995 and 1997 sets have nearly doubled in the last six months. The 1993 has a mintage of only 191,040 sets. Original Mint cost 17 years ago was $37.50. Today, it sells for less than $30. Here’s a useful comparison…the 2001-S Silver Proof Set mintage was 889,697 sets, issue price was $31.95 only nine years ago. The Premier Sets mintage was 22% of the 2001-S set. The 2001-S set sells for $100 today. Which is the better buy? A no brainer for any mathematician.

Best Buy #4
Circulated Buffalo Nickel Rolls
This item was chosen because of the ‘collector apathy’ criteria. Prices on these rolls are less than half what they sold for in 2004. Buy them while they’re cheap. (These rolls, Good and Better, sold for as high as $80 in 2004. Now they’re $35.)

Best Buy #7
Indian Cent Rolls
Historically significant and all time favorites, these coins are 25% cheaper than six years ago. The series ran from 1859 – 1909 (51 years), and prices at $1.50 to $2 per coin are ridiculous.

Best Buy #8
Modern Commemorative Dollars
These were chosen for a variety of reasons, most notably low mintage coupled with low prices. The Columbus 500th Anniversary Coin, issued in 1992, in proof condition has a mintage of only 385,241 coins. It’s silver as well, yet sells for under $30. That’s well under Mint cost 18 years ago, and I chose it to feature. But many others sell for just over their silver value of $18. Many of these are listed elsewhere in this category at $25 or less.

Best Buy #10
Early Proof Jefferson Nickels
These coins only came in proof sets that sell for well over $100. That’s for the cheap ones! The highest mintage was 1955, with only 378,200 made. Some have mintages well under 100,000. Prices are very reasonable for these truly scarce coins. Low mintages and low price put these on the list for "Great Buys!" That’s my list of the 10 ‘Best Buys’ for under $100. As I said at the beginning, they were chosen based on specific criteria, and each has a lot of potential room for price advancement. All are very collectible and were staples of the hobby for years. However, in recent years, attention turned to modern bullion type issues (Buffalos, Gold and Silver, etc.). This situation allowed the ‘Best Buy’ issues to sit on the shelf. It takes a lot more cash to buy the bullion issues, but you can buy and enjoy truly collectible coins on a modest budget. Remember, first and foremost, it’s a hobby!