A Comprehensive Guide To Coin Collecting

By Deborah Anderson
Updated January 6, 2016
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A Comprehensive Guide To Coin CollectingCoin collecting has been a popular hobby ever since coins were first produced thousands of years ago. Unlike paper money, the weight of a coin gives the possessor the sense that it has real value as it's not just numbers printed on paper. Once you begin to appreciate the high value that many collector coins may have you'll be hooked. But in order for you to make a success at collecting coins, it's best to start your hobby by using a guide to coin collecting.

How to Get Started:

Whether you're planning on collecting for fun or for profit, your first step is to decide what type of collector you want to be. Hobbyists are collectors that are in it for the thrill of hunting down the right coin to complete a collection. Investors and speculators are in it for the profit. There are others that start collecting merely because they were thrown into it by circumstances. Either they inherited the collection from someone else or other collectors introduced them to it.

You Don't Need Money to Get Started:

Contrary to what many people believe, collecting coins does not require a major investment to get started. A guide to coin collecting suggests that you start simply by collecting the loose change you get when you're shopping. According to one source, there is approximately $10 billion in loose change to be found somewhere in America's houses. So, start your collection by digging in your pockets, searching the bottom of your handbag, or checking under the cushions of your sofa.

The $5 Startup:

A great way to get kids excited about collecting coins is what is called the $5 startup. Collectors suggest that the first coin you should try to start with is the Roosevelt Dime. This dime was minted from 1946 to 2014 so there should be plenty of them to find. Take a $5 bill and look for a business that you deals with lots of coins throughout the day. Gas stations and stores that cater to young people are great places to start. Trade your $5 for a roll of dimes. Take the roll home and open it and sort them all out by year. Chances are you'll have some duplicates with several for a single year. Choose the best coins for each year, if you have duplicates. Then purchase some coin albums to store your coins in and you've started your coin collection.

The Roosevelt Dime is just one example you can start your collection with. There are lots of other easy to find coins you can also seek out. Consider collecting coins by year, or mint marks, or collect by series and type set. As you become more skilled at collecting you could even begin to delve into antique coins to expand your hobby. However you decide to start, remember to be patient because coin collecting takes time. You also want to be educated about collecting. Take the time to read a guide to coin collecting before you get started. That way you'll know the lingo and understand everything there is to know about collecting coins.





* Disclaimer:
This site offers information designed for educational purposes only. You should not rely on any information on this site as a substitute for professional medical advice, diagnosis, treatment, or as a substitute for, professional counseling care, advice, diagnosis, or treatment. If you have any concerns or questions about your health, you should always consult with a physician or other health-care professional.