Coin Collecting Tips
Wanna Start On Collecting
Coins? A Worthwhile and Educational Hobby.
There are many reasons why one
collects coins. There are collectors who collect on the basis of
the coin’s future perceived value, some collect coins coming
from just one particular period, some on metal type and some for
a coins historical value.
There are also those who enjoy collecting everyday common coins,
gaining pleasure from inspecting mint marks and dates on their
everyday change. Others have a collection of coins coming from
different countries. Some coin collectors spend thousands on
rare gold and silver coins from the period of the 1800's until
the early 1900's.
The hobby of coin collecting can give pleasure and fun to an
individual of any age. Many coin collectors began their
collection when they were young children, collecting dimes or
pennies and many of them have made coin collection a lifetime
hobby.
The hobby of collecting coins involves spending money from the
very start so it is good to join a coin collectors group to get
ideas and help from knowledgeable and experienced collectors.
You need somebody to buy your coins from, and it may be hard to
find a coin dealer of good repute when your are new to the
hobby, so having someone that has been in this hobby for years
can be of great help to guide you on choosing an honest and
knowledgeable coin dealer.
Begin by acquiring a big magnifying glass and examine coins in a
bright area so you can spot mintmarks, errors and to clearly
read dates on worn or damaged coins.
Decide on what coins to collect and buy a “bookshelf folder” for
that series.
You must also have storage, such as clear tubes made of plastic
or coin tubes having top screws to keep your coins in until you
are ready to put them in a coin album; storage can also be good
for keeping duplicate coins.
You must learn about different coin values. Follow what types of
coins are sold, and how they are priced, based on dealer
pricing. You also will need someone or some references that will
show you how to evaluate the accurate value of a certain coin
based on mint mark, age, color, surface and condition.
"A Guide Book of United States Coins" or universally known as
“the red book”, which is published yearly, provides a good
outline of the U.S. coins history, information on basic coin
grading, coin descriptions from past to present including a list
of errors to watch for, average U.S. coins retail cost, and an
explanation of errors which occurred in the “minting process”.
Monthly publications from “Coinage” (coin collecting magazine)
contain many useful facts and information as well articles about
your new found hobby plus a lot of great photos.
The newspaper, particularly in the numismatic world section,
will be of great interest to you especially when you become more
and more involved and interested in your hobby and want to
remain up to date with the present happenings in the world of
numismatics.
As you grow more experienced in coin collecting, your "eye for
coins" will improve and develop maturely so that you now will be
scrutinizing more carefully the features and details such as
coin lettering, making certain that the letters are not
blemished or blurred, but are still distinguishable.
You will be spending so much interest and concentration on the
coin’s general state that eventually you can walk away from
certain coins that show evidence of abrasion, and will then be
experiencing the fun side of coin collecting.
Spend ample time reading, looking at photos, learning from
experienced collectors and asking as many questions as needed
from not only other collectors, but dealers as well. The hobby
of coin collecting is a continuing process that will last for as
long as you are continuing the hobby.
Your knowledge and training will save you a lot of money as well
as make you money when the time comes, but more importantly,
have fun while learning. Take pleasure in what they call the
"Hobby of kings" that has turned to be the "King”of hobbies.
Keep on studying and learning, because the better you
understand, the more that you will enjoy your new found hobby.
Coin Collecting as a Hobby
Most people engage in different activities
that they consider hobbies. When people consider a particular
activity as a hobby, it means that people find that activity
pleasurable in that they enjoy collecting different kinds of
coins.
In this context, it does not necessarily follow that the coin
collector will focus more on the monetary value of the coins.
When the focus of coin collecting delves more into the monetary
value of the coins than the gratification the collector obtains,
it is no longer deemed a hobby but an investment.
History tells us that the main reason other generations
collected coins was the value that coins would someday attain.
The ancient form of coin collecting was even labeled a hobby
“fit for the kings” because ancient coins were so valuable that
only the kings were capable of collecting them.
Today’s coin collection is no longer limited to the “kings” or
the affluent. Anyone can now consider coin collecting as his or
her hobby. The popularity of coin collecting continues to
flourish as more and more people collect coins. That is why it
is now known as the “King of Hobbies”.
Why Such Popularity
One of the many reasons coin collecting is considered by many as
one of the most popular hobbies in the world is based on its
ease of access.
When somebody wants to start coin collecting, he can start any
time, anywhere. Some people start coin collecting with the coins
that they have in their pockets. This phase of coin collecting
is known as the “accumulator” stage, where collectors try to
accumulate as many coins as they can often using their “pocket
change”.
After the collector gets the “hang of” accumulating coins, the
hobby becomes more expensive. This is because true hobbyists are
willing to pay the price as long as a particular coin will
enhance their collection and will beauty to their “masterpiece”.
And the rest, as they say, is history.
Coin collecting as hobby is a pleasurable activity that any
person can use to create a feeling of gratification..