Coin Collections: Beginner's Guide to Coin Collecting Coin collecting is a hobby that is extremely popular among a lot of people. Whatever the age of the person is, collecting coins has its benefits. In most cases, coin collections gravitate on two things. For children, they tend to collect coins that look pretty or unusual. However, for adults, their coin collections will tend to gravitate towards the value of it rather than the looks. People have different ways to acquire their collection. Some will just collect any coin that they stumble upon, while there are people who buy in bulk and eagerly anticipate limited mint edition of coins. Whatever your methods are, there may be some questions that you may want to ask about this particular hobby. The first would be about handling the coin collection. As a beginner, you must understand that you should handle the coins as little as possible. The fact that fingerprints on an uncirculated coin can dramatically cut the value of the coin, you must never handle the coin at all. However, if you do need to handle the coin, do so from the edge and never on the face of the coin. If you need to lay the coin down, it is important to use a velvet pad if it is available. But, if none is available, a soft and clean cloth will do. If you are going to handle coins that are extremely high in value, you must do so with surgical gloves and protective face mask. Most people will also tend to ask how to keep their coin collections clean. Basically, you don't really need to clean your coin collection. In fact, you shouldn't even think about cleaning them at all. Most collectors look for the authenticity of the coin rather than its shiny newness. Even if you wipe the coin clean with clean, soft, and lint-free rag, it will leave hair line scratches on the coin which will greatly reduce its value. So, cleaning a coin collection is never really an option. Storage is also another question that you may have about coin collecting. Basically, the goal in storing your coin collection is to protect it from temperature extremes and humidity. Also, you may want to protect your coin collection from dust, dirt, chemicals, and even fingerprints. So dehumidifying equipments will be needed as well as locking the storage as airtight as possible. In most cases, low value coins are kept in almost any container and can be handled any way you like. However, when you are dealing with high value coins, you will need to give it extra attention. The goal here is to provide a container that will preserve the coin's condition. Make the container as airtight as possible, and the container should also be able to display the coin in order for you to never need to take out the coin from the container. Uncirculated coins are very much valued by collectors. However, if you really want a valuable coin collection, go for rare ones if you can afford to have it. Learning about grading coins can also help you to determine the true value of a particular coin. So, if you want to start your very own coin collections, you may want to keep these things in mind. With these tips, you can be sure that you will be able to know how to handle your collection and also help in appraising its value. Always remember that this hobby is not just fun, but is also a good investment. Coin Collection Tips: Finding a Coin Dealer Coin dealers can be considered as best friends of coin collectors. It is quite easy to find one. Although, with qualities like being ethical and honest playing an important role, it may take you quite some time to search for one. As a coin dealer, you would want to negotiate or entrust your coin collections to someone who is qualified to play the part. What are the characteristics that you would like your coin dealer to have? He should be: * knowledgeable and must have even the slightest idea on the details of his topic * respected by his friends and by other coin collectors as well * financially stable * demonstrates careful ethics Now that's all said, there are still a couple of things that you need to assess in order to evaluate a particular coin dealer. Experience A coin dealer must have at least several years of experience in the coin dealing industry and have certain accreditations from people. His credentials must be impeccable especially if your purpose for coin collection is for investment. You have to remember that not every coin dealer is good at what they do. Some would just pretend to know everything but in the end, nothing. You need to find a reliable and knowledgeable coin dealer who can give you tons of accurate advice. Assets A coin dealer must be financially stable in order to recompense and for you to be sure that he will stay longer in the industry. There is a vast majority of genuine coins in the market and sometimes fake ones show up. A coin dealer's certification can help with these things and when all else fails and it turned out that what you have is a fake, you can take it all back on your coin dealer. Friends It is wiser and safer to choose a coin dealer out of his friends' decision to let him join a certain group or guild. Otherwise, if the community or even his band of friends don't like the way he makes business, they wouldn't let him join the club. It only means that doing business with him is not actually safer as it seems. Ethics Nothing is more disheartening than to see how a scumbag would deal with his customers in a way that he's trying to get more out of what is being offered. In this case, you have to be pretty keen on how a coin dealer makes business with other people. He must treat everyone with manners and not differently just because you're wearing designer clothes when you came in. A coin dealer must always be fair in the way he deals with every customer. Take note that coin dealers who are ethical would have enough consideration and respect to their customers no matter how young or old they are. A good coin dealer must represent fairly, treat customers fairly and grade honestly. Nowadays, this is not always the scenario. Most of the coin dealers think that they could get away with everything. Recourse PNG coin dealer are the ones who agree to submit arbitration in cases of disputes. You have to consider this especially if you are buying really expensive coins. You don't want to go through all the complaints and lawsuits that's why you have to be stern and avoid the slightest possibility. It is advisable that you rely your coin collections on dealers that are affiliated with PNG just to be sure that your investment is safe. Starting Coin Collections People have different hobbies and there are individuals who love to collect certain things like coins. Coin collections are gaining popularity over the years. Arduous collectors are not very much interested in selling their collections; rather they want to store them for family keepsakes which they can pass on to their kids and grandchildren. Did you know that at present, some coin collections are worth hundreds or even thousands of dollars? That's true and if you want to start your own collection of coins, it's never too late to begin. Collecting coins is an engaging activity and hobby at the same time. You will not only appreciate the coins because of their appearance but also in terms of price. These are the rewards that you can expect by engaging in such hobby. Some individuals are not even aware that they already have a small collection of coins. However, you should decide which coins to collect. Some people love to collect foreign coins while others simply collect local state coins. The collections will depend on your interests and once you've decided which particular coins to collect, everything will be a lot easier. For starters, you can start collecting local coins and tokens. Just keep on collecting as many different coins as you like. You can get the coins from your own home or perhaps from your relatives and frie nds. The marks on the coins are fascinating and somehow it tells a story about its past. The coin can also tell you where it originated or its place of issuance. Who knows, the coins may have been used by great leaders and royalty. Another good thing about these coins is that the famous figures are often depicted in it and so you will be more familiar with them. Coin collections will largely depend on you as the collector. There is no particular rule to follow in collecting coins. As a collector, you should know the various methods that you can use to help you find more coins to collect. One way is to collect a coin series issued at a certain date. Some collectors make use of the so called 'shotgun method'. This is a way to collect any coins that catch your interests. There are also coin collectors who prefer to collect odd-shaped coins; however, you can find most of these unusual coins in other countries. You can collect such unusual coins if you travel a lot, from one country to another. Starting out is not a great problem because you can just start from your own home. If you want, you can visit local coin shops and see if there is an interesting coin there that you can purchase. If you think that a coin collection will not involve any expenses, you're quite wrong. You see, if you really want to collect beautiful and interesting coins, you have to spend money especially if you want to go for coin series. You can even visit coin shows so that you will find out about the coin dealers in your area. These dealers can help you in searching for the coins to collect. Start coin collections now and see how fascinating this hobby can be. You can have the coins framed so that you can decorate it in your house for all your guests to see. If you want to have a hobby that's worth money, coin collections is just for you. Starting a Coin Collection for Your Children Starting a coin collection especially for your children can be fun and exciting. More than that, it can be profitable too. A lot of parents start a gallery of their coin collection for the sake of their children and the generation after. It is quite a thrill to fancy old coins and show your kids how the mode of currency looks like, way back. Collecting coins can also be a sort of investment because sometimes, coins that were inherited or passed on from generation to generation are more valuable than a hundred dollar bill. Now, collecting coins can be cool but there are a couple of pointers that you have to take note of like: * Determine the amount of money that you are willing to spend for the sake of buying old coins. Remember, a coin collection is not just a collection of old pennies but an array of very, very, very old currency used even during ancient times which means, they are quite expensive and relatively centuries old. * What is your goal in collecting coins? For gifts? Investment? Hobby? You have to decide whether or not this collection will go on for years or it will stop at some point in your child's life. Collection Budget For the sake of discussion, we'll tackle about starting on a very tiny budget, much like 50-100 dollars a year. With this kind of budget, you could buy several kinds of coins namely the Mint sets which would not be more than $100. Fancy Silver Proof costs about $40 same as with Uncirculated set which would just amount at $25. You can go through the Internet and search for probable coin prices which are not that expensive and would definitely reach your budget. Child Motivation Encouraging your child to see coin collecting as a hobby is thin, but very much possible. All you have to do is motivate them to like coin collecting by making them realize the importance and benefit they can get from it. There are several coin types that your child can appreciate namely Buffalo and Jefferson Nickels, Mercury Dimes, Wheat Cents, Roosevelt Dimes and Indian Head Pennies. Start with these and then show it your child. Sit down with him and tell short stories about the coins. This will somehow build a certain kind of interest in him. Safe Coin Collection However you decide your coin collection may be -- heirloom or investment reasons, or just for fun, make sure that it is safe, both for you and your child. If you're planning to stash your heirloom and investment coins at home, bad idea. You just gave yourself a pretty good reason to be robbed. Best thing to do is get a safety deposit box and keep them safe in a place where you only know or if you really treasure your coins, put it in the bank. If your kids are actively collecting coins, make sure that it is kept in a safe place where visitors or strangers will see. If your child shows no more interest in his collection, just deposit his coin album in your bank. Never leave it hanging on a drawer because burglars will definitely take it for they are very easy to sell. Always teach your child the importance of his coin collections and tell him to keep the folders out of sight especially when people are around. Kids and Coin Collections If you think that only adults can collect certain items like coins, you're very wrong. Attention to all kids out there -- you too can collect the coins that you like. Kids always want to have fun and oftentimes, they find coins anywhere. If you have any coins, try to store them somewhere safe. It's easier for kids to collect coins because they can just ask from their parents, their aunt and uncles, grandparents, and other relatives. Parents should also encourage their kids if they see that they are interested in coin collections. If your parents don't know your interest in coin collecting, this is the perfect time to tell them. Being involved in a good hobby is something that most parents encourage and they will be more wiling to help out. So, what coins can you find in your pocket? If you don't plan to spend those coins, you can keep them already. When your grandparents and other relatives give you money, check them out instantly. Try to give attention to the coin's design. Perhaps you already have a twenty five cent coin from the Canadian Mint or even a fifty cents commemorating Queen Elizabeth's Golden Jubilee. If you parents give you an allowance, don't spend the money in unnecessary things. Try to save some for your coin collection. If you already have a considerable amount of savings, you can ask your parents to take you to the local bank and buy some coins that you can include in your collection. You can also check out online resources and know the coolest coins in the market today that is worth collecting. You don't need a huge collection of coins because you're still a kid. You can ask your parents to provide you with a lid jar where you can keep your coin collections. You will notice that as you grow older, you will have more collections to show your family and friends. You see, the best collectors of coins started from a few coins. From the very start, you should already list all the coins that you put inside the jar. That way, it will be easier to monitor which you coins you have. You can use graphing paper so that you can keep track of your collections in an organized manner. If you don't know how to do this, let your parents help. Don't forget to indicate the year the coin was issued. Once the coins are compiled, it will be easier to classify them and later on, conserve the coins. You can take all the coins issued on the same year and keep it in a separate jar. You have to keep the coins somewhere safe so that they are in good condition. You will know a lot of famous people as you collect coins. Aside from that, you can also discover other places where the coins came from. You see, all the coins are rich in history and stories. You will also discover unique symbols and strange geographies. Kids can start coin collections even at a very early age. With the support of parents and family members, your collection can grow to be a worthy collection; one that you can cherish e ven when you're already old. Don't stop collecting coins even if you're already a grown up and try to find a more appropriate storage for them.
Coin Collections: Is This Hobby the Right One for You? Today, you will see people having different kinds of hobbies. Some loves to collect doll houses, others love stamp collecting, there are also some who likes collecting different species of butterflies and preserve them, and some people likes to collect toys. However, if you really want a valuable collection, and a collection that will be worth a lot in the near future as well as a hobby that will truly provide you with great satisfaction, then you might want to start a coin collections hobby. Coin collection is a hobby that has existed for centuries. Here, you will not only get a piece of history from different countries, but you will also have a chance to invest in a really valuable hobby. Coin collecting is a multi billion dollar industry. In fact, a single rare coin can amount to as much as a million dollars. If you love history, then coin collecting is definitely a must. The great thing about coin collecting is that it's not just a hobby, but also an investment. You have to consider that coin collectors such as yourself travel all over the world in order to participate in forums or events that involves this one of a kind hobby. In fact, some people bid thousands of dollars in auctions for a coin that was worth a single cent during its first release. As you can see, a coin collection can definitely be a very lucrative investment especially if you have a rare coin in your hands. You have to remember that although coins are currencies, it does appreciate in value especially if the coin is very rare and is not being produced anymore. For example, try imagining getting a hold of a rare coin that dates back to the Ming Dynasty in ancient China? You can definitely imagine how much this kind of coin is worth nowadays. Even if the coin was worth 5 cents during the time it was first used, you have to consider that this coin will definitely appreciate in value because of its historic significance, its rarity and its age. There are many ways to start your collection. First, you have to decide what kind of coins you want to collect. If you want to collect World War II coins, then you can do so. Or, maybe you want to try collecting rare ancient Roman coins? This may be very expensive but is also an investment that will be worth a lot in the future. If you are just starting out, you may want to try collecting different kinds of coins from different countries. Ask your friends who have traveled abroad before to hand you some coins they have from the countries they traveled to before. This is relatively a cheap way to start your collection. Once you get the hang of it, then you will opt for rarer coins that can be worth a lot of money. In time, you will be able to see that your coin collection will grow from collection of coins from different counties, to a collection of rare coins that is worth thousands of dollars a piece. As you can see, coin collections are not just a fun hobby to have, but it is also an investment. With a coin collection, you will be able to have something to do in your spare time as well as invest in something that will be worth a lot in the future. How to Spot an Error in Coin Collections Spotting errors in your coin collections or maybe in everyday pocket change is easier than you imagine. It's rather profitable and fun too. You just have to follow the different steps carefully a couple of times so that the impulse of checking out every coin you receive will become a habit. These simple instructions are productive and proven methods of locating the different coin errors and varieties of die circulating inside your pockets and other people's pockets. There are three important tools though -- a magnifier that can be seven times stronger or more, at least three to five dollars worth of usual or old coins and a very keen and watchful eye. Follow the sequence below. 1. Sort the denomination. If investigating for errors, always group your coins in batches. Example, gather your pennies on one side, then your dimes at the other, then your nickels, and so on. Eyes are very keen observers and so seeing one type joined together will let the brain memorize its features and angles so that you can scan faster. When you go to the next set of the same type of coins, your eyes and mind will collaborate and do the same scanning, determining and saving. It will be easier on your part to point out even the slightest difference with this kind of grouping. 2. Examine inscriptions. Look at the obverse lettering of every coin. Do you see anything unusual or odd about it? There are several instances wherein doubled varieties of die show doubling effects in just one part of a word. Polishing, greasy dirt collection or die abrasion can cause the failure of letters to be inscribed perfectly on the surface of a coin. Upon turning the coin on its other side, look at it carefully from every angle. Inspect for special oddities like doubling, missing letters, etc. that can be found in its inscriptions. 3. Look at the mintmark and date. Focusing on these mintmarks and dates should give you a better idea on what to look out for. These marks belong to the most valuable mistakes that you can most likely find in circulation. Several issues can be concluded in this part of the coin because of repunched dates and mintmarks, various kinds of doubling, overpunches and a lot more. 4. Examine the portrait. Portraits are the major aspects that are most likely to acquire some strangeness in its proportion. When examining it, consider every angle as a whole. Can you see doubling that is quite obvious? Observe for important missing elements, cuds and die cracks. Focus your attention on the portrait's ears, chin, eyes, and mouth and look for any signs of doubling. 5. Feel the edge. That would be difficult. But then again, what you can do is to roll the coin on the surface of your palm to examine if the edges are the same. By this method, you'll see the edges clearly and you'll be able to point out any lines, seams and reeded edges that are missing. 6. Separate odd ones. By doing these simple things, you can become an expert in coin inspection and printing out certain errors in only a matter of seconds. Once you have determined which among them are odd, examine them thoroughly under a magnifier supported by very good lighting. By being adept to these, you can easily spot errors in your collections in just a matter of minutes. Coin Collections for all Ages People of all ages are getting hooked with their coin collections. As a matter of fact, even the children are participating actively in colleting every dime and nickel they can get their hands on. There are a lot of reasons why people collect coins. Among the many reasons are: * A good hobby * Future investment * Value of artistry * Tangible history right at the palm of your hands * Heirloom treasures * Uniqueness * Monetary value (some rare coins are made of very precious metal) * Sentimental value Every coin has a story to tell. Every intricate design means something. The historical value of a coin makes it more precious to a coin collector. Collecting coins can either be the cheapest hobby or the most expensive ones (next to collecting cars and yachts). Coins represent something especially when it came from other countries. According to preference, every gender or age can choose the kinds of coins that they will collect. But as a kid, it will take a lot of convincing from adults to let them grow some interest in collecting. Even if the child wanted so much to get into the hobby, they just don't possess the means, money and right attention span to pursue it. A teenager can have some interest in the idea but what stops them is the budget and the equipments needed to start the hobby. In adults, they may have the means but may not want to go through the hobby as professionals would do. Whatever the problem may be, here are some suggestions to wake up some sense in you to take into consideration the different accounts of pursuing the hobby. Child -- Low budget or nothing at all Pay attention little one. You don't need a hundred bucks to start your coin collection. All you need is a keen eye, a little box where you can put your collected coins, and a lot of interest. You could start by searching for change either inside your pocket or your parents' (with permission of course), in penny dishes, flea markets or coin shops. You don't really have to worry if you have nothing to spend for old coins seen in cheap bins for as long as you have something. By the time you get older and your parents are already giving you a small amount of lunch money, you can just save that and by the time that a particular coin interests you, it'll be your very first bought coin. Teen -- With middling budget You can already afford something but not that much. And by this time, you already have a proper place like an album to protect your coins with. Some albums are custom-made for collection but if this is too much for you, an ordinary album can be good. By this time, you would want something more than coins. You want rarer ones, coins that only a couple of people have. If the budget agrees, you can buy a book that can identify or price the coins that you have. You can also search through the Internet for coins being auctioned. Adult -- Budget varies Varies according to the kind of coin that is preferred. Coin collections for adults can be for interest and investment. This is the point where the interest gradually decreases or normally increases and upgrades can be probable. You could search through other places to find for the most unique coin. Coin Collections and State Quarters Coin collections are getting more and more popular these days. A lot of people are already into collecting coins. You see, this hobby is interesting and can be considered an excellent pastime. If you want to start your very own coin collection and you have no idea where to begin, you should check out the State Quarters. What are State Quarters all about? Way back in 1997, an act was approved and it was called Fifty State Quarter Program. The program started in that same year and it is still running up to present (2008). The Act is quite popular and in fact, it is the most well-known minted series of coins in the US Mint history. In 1998, five latest state quarters were released and it continued for a period of ten years, so it would end this year. Every 10 weeks, a quarter is again released. These quarters are never released for public use because it is minted. The program also devised a new and unique method of issuing coins -- the state quarters were issued based on the year they became part of the US. The state quarters are minted and you can see George Washington's image at the obverse or front side while on the reverse or back side, you will find a noteworthy design about the specific state. The program will end this year (2008) and after that, the coins will again be designed normally, with the reverse side having an eagle design. Don't you think collecting these coins is worthy? Since the program will end this year, you still have a chance to collect such coins. You will find it hard to obtain the coins once the program is over because the coins will be considered collectors items already and it will be a bit costly on your part. So, what makes these minted coins different? Each state gets a chance to choose a unique design which is of great importance to it and the current governor of the state will determine the process of selection. Some of the states designate a certain design committee while other states held contests among the residents who can come up with a significant and unique design. Some states post various designs of the coin in their official site and the residents simply place online votes and the coin that gets the highest votes win. The coins are greatly in demand and besides, these coins will not be minted ever again. The price of these state quarters will naturally increase as years pass and currently, some of the older state coins amounts to $1 each or even more depending on its condition. Some coin collectors are also into 'error coins' collection and these flawed coins can cost more or less $500 each. The program of State Quarters has definitely gained extreme popularity in the US and some people are already into some sort of business revolving on the said minted coins. Coin holders are popular and coin collectors can purchase them so that they can keep their collections in an attractive holder. Youngsters and old alike can now start collecting coins through the State Quarters. If you want, you can inquire at your local state office and see if the coins are still available. But you must hurry since the program ends this year. Choosing the Coin Fit for Your Collections A collector would choose certain specifications when it comes to his coin collections. If a coin collector is new in the business, it is a tradition to start at the very beginning. You can't just flip a coin and decide the result, although, that can be the last resort. Alright, so down with the real thing. You can choose your collection based on your preference. Are you the silver, bronze, or gold type of person? How old do you like your coin to be? In what period? Best advice: start at what interests you. Then collect it by the following: Date or Period of Time Coin collectors who see their collection as an investment would probably prefer coins that are older than their grandfathers. The more ancient the coin, the better. Aside from being centuries old, there are also Revolutionary coins and those that came from another time in history. Some people would start by building up decades of coin that embraces Mint condition. Country If you have decided to collect any kind of coin for as long as it came from different countries worldwide, that would be tiring but exciting. And it can cost you a lot. So things wouldn't be exhausting, you could start off by collecting coins of your own country. After that, if you already have enough funds, you could drop by a coin shop and ask if there are any coins from outside the country then go to the next or just gather it in one blow. Metal If you're a beginner, you wouldn't want to start collecting silver or gold coins for these are the kinds of coins that can bore a hold inside your pocket. Better settle with the lower metal levels first. Not unless money is not a problem. Usually, the concern on what kind of metal to choose belongs to the more professional collector. Aside from being a challenging collection, it puts you in a lot of risks. By this time you may already have an idea on where to start. As the hour glass makes its due, you will become more interested and selective of the types of coins that fits your album. You will develop areas that you may not find in other collectors. You still need to know some specifications about the kinds of coins that you will collect. Details You have seen an ordinary coin, its features wouldn't be different from the old one because typically, new coins are just patterned from old coins. You have to inspect if the writing on the coin is still clear. A coin wherein the smallest details, like feathers or robe folds, are completely worn away is of little value. Toning Means discoloration or tarnishing, toning can increase the coin's value. Believe it or not, if a blue tone is present on a silver coin, it can be very desirable. Toning has an effect on a coin's details for it can accent its faded features. For as long as the tone of the coin wouldn't turn out uneven, there's no reason to reject it. Wear n' tear If you have been in coin shops that are offering bargain coins, it might be because it has been into a lot of circulations and the market has already rejected it. You will notice certain kinds of scratches an even scarring that is caused by chemicals. Scratches can be acceptable but scarring is a no-no. Chemical scarring can be related to corrosion, pits, etc. As much as possible, make your coin collections spotless.
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