How to start collecting coins
By Catalogs Editorial Staff
Figuring out how to start collecting coins can be rewarding, quite literally!
Collecting coins is not only fun, but it?s educational, as well. You?ll learn about the different coin designs, how coins have changed throughout the years and how much these coins are worth.
If you?re looking to begin this hobby, you?ll need to know how to start collecting coins. There is a warning; however, because once you start, you?ll likely become addicted to this fun and rewarding pastime.
Suitable Storage
When you?re collecting coins, you don?t want to store these treasured items just anywhere. Throwing them in a bowl can cause damage, as can throwing them in a bag. Plus, looking at and displaying the particular coin you want is often difficult when they are stored in this manner.
When you place your coins in a coin album or display box, however, you keep your coin collection safe and have easy access when you want to admire them.
Collecting Guidelines
Before you start collecting, you?ll need to decide what you want to collect. Sure, you could just keep any old coin you find, but there likely won?t be much profit in your collection down the road. Plus, you?ll end up with loads of coins, and you might not be able to catalogue or find storage space for all of them.
Instead, focus on one particular type. For instance, you might just want to collect pennies. Or maybe you only want to collect coins from a certain year. Select your birth year, or another year with personal significance. Great collections can be built around coins from a specific time period, like the US Revolutionary War years, or the 1950s.
You can also choose to collect the coins of a particular country, either modern or ancient. You can also collect coins with images around one theme, for example, British royalty. Or you can choose to collect commemorative coins.
Once you narrow down the terms of your collection, you can start looking for them. Search for coins online, at auctions and coin shows and in pawn shops. Let your friends and family know exactly what you are collecting – have them keep their eyes out for you too!
Set a Budget
Spending a good amount of cash is easy to do when starting your coin collection. Setting a budget ? and sticking to it ? prevents you from spending more than you can afford and getting you into financial trouble.
Lower budgets, such as 50 to 100 dollars, are usually enough to provide you with certain U.S. Mint sets once a year. If you have a larger budget, you can buy more throughout the year, which means you?ll continually add to your collection.
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Research
Obtaining coins is fun, but it can get tiresome if you don?t know their histories. Start compiling research on the coins you?ve collected. Once you find out interesting information about them, it will likely boost your interest again and you?ll want to collect even more coins.
You can also find out how much those coins of yours are worth, which could really pique your interest again. And if you have a coin that is particularly special or worth a good amount, be sure to put it on display.
Whether you are collecting coins for fun, or want to make an investment out of them, you?ll likely enjoy this hobby. And once you know how to start collecting coins, you likely won?t stop.
Resources:
About.com: How Do I Start a Coin Collection for My Children?
Arts and Collectibles: How to Start Collecting Coins
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