Coin Collecting

Coin collecting was once known as the hobby of kings.  It goes beyond the hoarding of coins due to their monetary value, and allows the collector and enthusiast to enjoy the look and feel that only coins can provide. It is the trading and collecting of coins or other forms of legally minted currency.  Valuable coins to a coin collector are those that were in circulation for only a short while, ones that were minted with errors, or ones of exceptional beauty or historical significance.
 
For most people, the desire to start coin collecting begins when they find a specific coin that interests them in circulation.  They can find it in the change in their pocket, or even along the sidewalk while walking the dog.   There is no real risk involved, since the coins collected are legal tender, and the beginning collector can easily spend the money if the interest fades.  If the interest does not fade, however, many people start looking for other sources of coins.  One such source is the U.S. Mint, which manufactures all the currency available within the United States.  Buying coins from the U.S. Mint is a wonderful way to ensure that the coin has not been in general circulation.  Collectors have also been known to purchase coins from coin shops, flea markets, coin shows, internet auctions, and even from other collectors.

For each coin, somewhere there is a collector that is interested in it.  However, many rare or obsolete coins have been devalued due to its condition.  Like any other collectible, it is often the condition of the coin that determines its value, and marketability on the collector's market.  Any damage, such as dented edges, holes, gouges, or even signs of cleaning can greatly decrease the value of the coin.  Because of the great risk of causing unintentional damage, many collectors handle their coins extremely carefully.  Many experienced collectors wear gloves while handling coins, since the oils from your skin can cause coins to become discolored, and they can leave unwanted spots.  Often, a coin under inspection is only handled at the edges, if at all.  If taken out of its display case, a coin is often placed on velvet like surface to decrease the chances of scratches or discoloration.

These are just a few of the different things to consider when trying reaching the goal of a quality coin collection.  They can be viewed as an investment.  The prices based on the demand and availability can change over time, but often provide great returns if sold at the right time.   There are a number of different collecting styles; some collectors try to collect a coin from every country.  Others attempt to only find coins from a specific year.  They often buy specially made books for the coins for a particular country from every year.  For others, coins issued during historical periods such as the Great Depression or the Civil War is especially interesting and valuable.  No matter what your reason is for collecting your first coins, finding them, and taking care of them can go a long way to making your collecting dream a reality.

 

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