1892 Columbian commemorative half dollar. MS-60 $90. Bearing the date 1892, this coin was minted for the World's Columbian Exposition, scheduled to open in that year, but postponed until 1893. Representing the first United States commemorative half dollar, it led the way for the creation of 47 additional major half dollar types through the year 1954. Charles E. Barber designed the obverse, featuring a stylized portrait of Columbus, while George T. Morgan prepared the reverse. These coins were offered for $1 each at the Exposition, but many remained unsold, and later vast quantities were released into circulation at face value.

There are 14 coins in the preceding list, most of which are Uncirculated. This group, which would make a fascinating display, would cost between $1,500 and $2,000 today, to allow for varying market values, a figure within the range of most adult numismatists, even those who are just beginning their interest. If the 1907 $20 is subtracted, we have a group of 13 coins valued in the $1,000 range. I suggest that just about anyone with a serious interest in rare coins can afford $1,000.

I am not recommending that you rush out and buy this particular group of coins. They are given only as an illustration that coins do not have to be expensive in order to be interesting and numismatically desirable. Make your own list. Today's market offers many superb values. In many instances, prices are 25% to 50% or more below what they were in the market peak of 1988-9. Of such situations, opportunities are made.

Opportunities for the Buyer

I believe that by reading this text, by keeping abreast of the numismatic market, by subscribing to periodicals, and by making your purchases carefully and with forethought, you can form a numismatically important collection which will bring you many years of enjoyment and, if present trends continue, may prove to be a potentially superb investment as well. If you want to invest a large sum of money you can acquire rarities along with commoner issues, but if you want to make only a modest investment, there are still many really interesting and desirable pieces available, as the preceding list of inexpensive coins with stories indicates.