Coin Collecting is affectionately known as the ‘Hobby of Kings’ in reference to the fact that in ancient times only Kings could afford to collect coins as lay people spent every penny they had to survive.
Coin collecting or numismatics is an extremely popular hobby which is now affordable to everybody. You can delve into the wonderful world of coin collecting as you read these words by simply reaching in your pocket and finding loose change. So what are the key steps necessary to begin a coin collection?
Step 1: Decide What You Want To Collect
You need to decide what type of collection you want to build. There are many different types of coin collection themes. These include;
– Some collectors obtain a sample from every country while others focus on 1 country
– Many collectors collect by year e.g. one Lincoln cent for every year from 1909 to present
– Different mint marks can provide adequate differentiation to collect multiple samples for each year
– A collection may include major design variants for a period of time in a particular country
– Many collectors collect coins that depicts an area of personal interest e.g. planes, ships etc. Other collection categories include; period collections, composition collections, signature collection, series collections, printed value collections, volume collections and more.
Step 2: Educate Yourself on Your Selection
It is very important to educate yourself sufficiently. Join your local numismatic club, contact your local coin dealer and ask them for good sources from which you can learn about the hobby. This information is important in order to understand what you need to consider when buying a coin, and how to value a coin. An excellent resource is the ‘American Numismatic Association’. This association will provide information on dealers and entities that promote coin collecting. Visit your local library or Amazon.com and get books pertaining to Numismatics.
Step 3: Complete a Set
Complete a set. Collect one of each year and mint mark of your coin of choice. (A mint mark tells you where the coin was made.)
Step 4: Subscribe to Coin Publication
Subscribe to coin publications such as “Coin World” or “Coinage Magazine.” These publications will keep you up to date on developments and ensure you make more informed decisions.
Step 5: Get a Collectors Display Album
Pick up a collector’s display album or folder to proudly show off your new found hobby. Other useful coin collecting materials include; coin capsules, coin magnifiers, coin envelopes, coin scales, coin carrying cases and coin trays.
This article is courtesy of Hobeze.com – The Coin Collecting Social Network that connects like minded Coin Collectors worldwide.