Coin Collecting Basics

US State Quarters Collecting

Collecting coins is a hobby that anyone and everyone could do. But US state quarters collecting is a hobby that currently is estimated to have one hundred six million participants. Men, women, and children of all ages are involved in collecting the 50 state quarters issued by the US mint.

What is it with these quarters that millions of people seem to go “gaga” about? Primarily, doing it is easy as quarters can be found almost anywhere and the these collectible coins do not cost much more than face value.

So, how should one collect or start collecting the very much in-demand state quarter?

Starting US State Quarters Collecting

If the collector is concerned with his or her budget, many quarters may be obtained as change from purchases. This is a very convenient and hassle free method of building your collection. If the collector is serious, bags of these coins can be purchased from coin dealers. Do not forget to choose those quarters that were not circulated!

For those just starting a coin collecting hobby, coins they collect are usually placed inside a large glass jar or bowl. Serious collectors prefer to store their collection in a special state quarter album. State quarters map folders are a very popular way to store and display a collection and are available in coin shops and from coin dealers.

A State Coin Collection Is A Great Starter For Kids

Collecting state quarters is a perfect way to get children involved in coin collecting. Nothing beats the excitement of a new quarter in one’s pocket. State quarters are a unique, as well as a very inexpensive, way to get children interested in history. When they find a new coin, they can research it to find out the details of the state from which the coin came, etc. It is an effective way to have fun while learning.

The sequence of how the coins are minted, believe it or not, is based on the order of the states being admitted to the Union. US history tells us that Delaware was the first state; therefore, this was the first quarter minted. For the sequence of the other states, check the schedule from 1999 to 2008 of the US Mint.

Collecting these “statehood quarters” is a valuable hobby that has many benefits. It trains one to be patient, resourceful and appreciative of history while participating in one of the most interesting and fun hobbies of all time US State Quarters Collecting!

Antique Coin Collecting

Antique coin collecting is a fun activity and has been very popular because it does not only serve as a hobby but as an way to generate income.

Probably the most popular types of coins that are sought by collectors are antique coins. Antique coins may be bought from auction sales, coin shows, malls and even in tourist areas that have historical themes. Antique coins are found to vary greatly in price depending on the age of the coin, its history and country or origin.

Antique Coin Collecting Buying Tips

The buyer should make sure that the antique coin they are buying is genuine. There are many counterfeit coins sold in the market today and buyers should thoroughly inspect any coin before buying it.

Coin collectors should collect less expensive antique coins when first beginning to collect. The more expensive coins can be purchased once their collection becomes larger and they have gained more collecting experience.

Collectors need to consider a purchase carefully before buying antique coins. Always be aware of the scams and fraud that may occur when buying coins. Take extra care in choosing a particular coin and always determine the authenticity of the coin before purchasing.

A professional coin appraiser should assess the value of the coin before you buy to prevent buying a coin at an inflated price.

When choosing antique coins narrow down the collection of antique coinage to those from a specific country or a specific era. This will make the search for collectible coins an easier task.

Care is always needed to preserve the value of your coins. Antique coins should be given extra care in order to preserve their appearance as well as their value. A collector should be aware that antique coins do not require much cleaning as excessive cleaning will only depreciate their value. The older the antique coin looks the more expensive it becomes.

Antique coin collecting can provide so much enjoyment for collectors that everyone should consider making it a hobby. Remember to be patient in searching for these coins since they may be available in limited numbers.

Beginner Coin Collecting

Coin collecting is said to be the “Hobby of the Kings.” and is very different from money hoarding. Hobby coin collecting can be traced back to the 14th century. Today, people all over the world are collecting coins. Some collect it for their value and some just like the sheer fun that they get from getting their hands on different coins.

If you don’t mind being a beginner coin collecting is something you can very well do so with just a little effort. It is a hobby which does not require a great deal of skill and it can be done by almost everyone.

Beginner Coin Collecting Types

Coin Collecting For Dummies

Well, not really dummies. Let’s say beginners instead. Most beginner coin collecting enthusiasts, especially children, start out as informal coin collectors. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods without any intention of being serious about it.

Once the beginner coin collector starts noticing the fascinating details of the coins, he becomes an inquisitive coin collector. This kind of coin collector won’t bother much with spending money to buy coins. He merely wants to appreciate the coins. Soon, he will start to put them in folders or albums.

The Advanced Coin Collector

An advanced coin collector will collect coins with a specific target in mind. He may want to specialize in coins from a certain nation, or perhaps a certain time period.

There are many paths which coin collectors pursue in their hobby. Here are some tips you can use in deciding what type of coins to collect:

Foreign Coin Collection

Many coin collectors would want to collect coins from a certain foreign nation during a certain period of time. This kind of coin collection lets the coin enthusiast travel the globe through their collection. As an example, some people collect coins from countries they have visited.

History Coin Collecting

Another way of collecting coins is by taking in mind historical events. Many coin collectors specialize in collecting coins during a certain period in history like famous wars.

Error Coin Collecting

There are people who find collecting coins with errors exciting because these kinds of coins are rare. Some choose to specialize in mis-strikes while others broadstrikes or cuds.

There are many ways to collect coins and each way is as fun as the other but serious coin collecting can require spending a fair amount of money as some coins can be very expensive.

Coin Collecting Tips

It is never too early or too late to have a hobby. Some people are hobbyists for fun while others see a bigger picture; and that is to make money.

Coin Collecting Tips #1

Some objects that may seem inexpensive now may become valuable or even priceless later.

A few good examples are baseball cards, toys and stamps. Many people have made a fortune by collecting and selling these on auction sites like EBay. Another collection that can become profitable is coin collecting.

Coin Collecting Tips For Starting A Coin Collection

Getting started collecting coins is as easy as deciding what kind of collection you want. Coins are made every year and some like the U.S. state quarters are introduced over several years so focusing on a particular time period and location is important.

Conducting research using a coin collector reference book or the web can aid in learning about coin collecting. You can learn almost anything about the types of coins to be collected and a good book will help you to get up to speed on how to properly start your collection.

Another good source of information is subscribing to a coin collecting magazine such as Coin World or Coinage Magazine. Your local coin shop can also be a good place to get information and to meet other collectors.

Being a member of a coin club can also build your network. Some members may want to part with a particular coin in exchange for another, etc.

Silver Coin Prices Keep Escalating

Coins that are no longer used generally have more value than those that are still in circulation, because coins in the past were made of 100% silver or gold. In 1965 U.S. coins started being made of 40% and 60% copper due to the rising price of silver. This has made the value of these coins rise year after year.

After completing a particular collection, the coins should be stored in a nice folder or album. This will keep them clean and easy for you to carry around and display.

Coin Collecting Tips #2

Coins can be cleaned by soaking them in any of the following liquids: vinegar, rubbing alcohol, lemon juice or ammonia which will remove any dirt or encrustation that’s on the coin when it was acquired. Afterward, they should be air-dried or patted dry with a soft cloth. Rubbing or polishing the coins is not advisable since it scratches and will decrease the market value of the coin.

So whether you are a beginner coin collector or a novice coin collector it is a fun and interesting hobby.

Coin Collecting Hobby

Most people engage in different activities that they consider hobbies. When people consider the coin collecting 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.

Coin Collecting Hobby History

History tells us that the main reason other generations collected coins was for 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 and rare 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 The Coin Collecting Hobby Is So Popular

One of the many reasons numismatics (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 a coin collection, 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 of their coin collecting hobby it becomes more expensive. You can find valuable tips on collecting coins online whether it is just for fun or for making money. This is because true hobbyists are willing to pay the price as long as a particular coin will enhance their collection.

What Is Numismatics

What is numismatics? Numismatics is the study of money, medallions, banknotes, token coins, and stock certificates. It is believed to have been established in the time of Julius Caesar who wrote the first book on the subject. It is a very interesting topic because every medal or coin signifies a different era, culture, economy and/or politics.

Numismatists or the people who study the history and over all appearance of the above mentioned forms of currency are different from coin collectors. Unlike numismatists, coin collectors are only interested in collecting coins and the prestige that goes along with it; a numismatist may also be a coin collector and vice-versa.

Over the years, coin collecting has been very popular. The most common designs are famous people and animals to depict the era when the specific coin was first minted.

Numismatists are generally interested in the use of money, its origin, appearance, variety and production. They aim to explore the role of the different kinds of currency in our history using mint information. Mint refers to the place or facility where the coins are manufactured. They also grade or authenticate coins to determine their market value. To facilitate this, coin grading system facilities were established.

What Is Numismatics – Coin Grading

At this time there are three major third party facilities that authenticate coins and/or paper money. These are: the PCGS or Professional Coin grading system located in Newport Beach, CA; the NGC or Numismatic Guaranty Corporation in Sarasota, Florida; and Paper Money Grading (PMG).

PCGS is a third party institution that was established in 1986, which grades and authenticates coins primarily for commercial purposes. They are an independent body providing expert opinion in rating a coin. NGC is also a third party institution offering services solely to numismatists. It was established in 1987. On the other hand, PMG is solely for authentication of paper money and a smaller department of PCGS.

When coin collecting was not as popular as it is now, there were only 3 categories into which a coin could fall: 1. Good – which means that the coin has all of the details intact; 2. Fine – which means that the coin has all the details intact and still has a bit of luster visible; and 3. Uncirculated – which means that the coin was never put on the market thus maintaining its original appearance.

However, today coin grading has evolved and is becoming more definite. They use a combination of letters and numbers that corresponds to the quality of a coin. The coin grading system of United States of America is the most comprehensive and recommended for beginners. An example of USA grading system: MS-60 to MS-70 which means that the coin is blemish-free and has good color and strike. In short it’s perfect!

Knowing how to grade a coin properly is not only a gift, it’s an art. It requires knowledge, exposure and obviously skills. For coin collectors, the ability to grade a coin is a must because the value of a coin largely depends on its grade.

What Is Numismatics – Factors Numismatists Use In Coin Grading

Luster – It is a determining factor whether or not a specific coin has been circulated. To have a higher grade, a coin must be technically intact and free from any form of imperfection or blemish.

Surface preservation – Abrasion on the surface of the coin and its location is a huge factor in grading a coin but it does not necessarily mean that abrasion can lower the grade of a coin. For example, if a good-looking coin has a severe abrasion on the back that is unnoticeable it will not count against the coin, but the issue may not be the same if the abrasion is located on the front or focal point.

Strike – Refers to the coin designing process wherein the coin is being stamped onto a planchet. In overall grading, strike does not carry a great deal of weight.

Coloration – For some coin collectors, preservation of original color of the coin has a huge impact on its value especially if it is a copper or silver coin.

Eye appeal – Some coins may not be perfect but collectors may find them attractive, however, it still requires an expert opinion to conclude that a certain coin is excellent in all aspects mentioned.

So whats is numismatics? Simple, it is the hobby of coin collecting to either make money or to enjoy learning about the history of coins.

How To Collect Coins

There are many reasons why one collects coins just as there are many ways to learn how to collect coins. There are collectors who collect on the basis of the coin’s future perceived value, some collect coins coming from just one particular time 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 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.

Learning how to collect coins 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 many of them have made coin collecting a lifelong hobby.

The hobby of collecting coins usually involves spending money from the very start so it is good to join a coin collectors club 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 reputable coin dealer when you are new to the hobby, so having someone that has been in this collecting for years can be of great help to guide you on choosing an honest and knowledgeable coin dealer.

How To Collect Coins – Start You New Hobby Today

Begin by acquiring a big magnifying glass and examine coins 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 coin collecting folder for that series.

You must also have coin storage essentials such as clear tubes made of plastic or coin tubes having top screws to keep your coins safe until you are ready to put them in a coin album; storage can also be good for keeping duplicate coins or coins of lesser value.

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.

Coin Collection Books And Magazines

“A Guide Book of United States Coins” also known as “the red book”, which is published yearly, provides a good outline of U.S. coinage 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 like Coinage or Coin World magazine contain useful facts and information as well articles and photos about you new found hobby.

The newspaper, particularly in the numismatic 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 current happenings in the world of numismatics.

As you grow more experienced in coin collecting, your “eye for coins” will improve and develop naturally so that you will now be scrutinizing more carefully the features and details on a coin such as lettering, making certain that the letters are not blemished or blurred, but are still distinguishable.

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 continue to build your collection.

Your knowledge and training will save you a lot of money as well as make you money when and if the time comes to sell some of your collection, but more importantly, you will 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 learning how to collect coins as as time passes you will have a collection that you can be proud of.