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Coin Collecting Can Be a Great Hobby

Mar 06, 2019

The art of collecting coins is a treasured hobby. The only thing is that it is a familiar term and yet most people don’t know the intricacies behind the hobby itself. The best quality of collecting coins is that it can be easy to start, whereas most hobbies require preparation. There are many benefits to holding onto certain coins in your pockets. Some of them include:

  • Profit: collecting coins can provide you with a great deal of investment as these items tend to increase in value the more time goes on.
  • Aesthetics: the joy of owning a collection is usually for visual appeal and rare qualities. Coins hold a variety of artwork and uniqueness that give them a certain timelessness.
  • Discovery: this form of currency holds a great deal of history, allowing you and your fellow collectors to become immersed in an educational hobby.
  • Legacy: those who invest in a coin collection often dream of passing it on to their children, providing them with memories and a little extra profit.
  • Serenity: with so much going on in our daily lives, coin collecting is often described as a peaceful time to devote to yourself.

With so many appealing reasons as to why you should collect coins, it’s no wonder that you’ve kept reading. But, what next? How exactly do you start to collect these treasures?

Getting Started in Coin Collecting

You might think that the first step in starting your coin collection is to go online and look for the rarest nickels, but that is not the case. Before you purchase any collectibles, you should prepare yourself with the proper essentials. Below is a list of the basic terminology and equipment that you should become familiar with when it comes to the collecting of coins.

  • Storage case: this will make sure that your coins are safely stored and kept dry.
  • Magnifying lens: seeing the coins up close will help pinpoint the value.
  • Cotton gloves: it is always best to touch your coins with gloves on so as not to deteriorate the face value.
  • Notebook or software program: keeping track of your collection is what the professionals do in coin collecting.
  • Reference book: with so much to learn, invest in a guide to the general information involved with this hobby.

Now that you know a few of the terms, you can start your collection. The first step, as a matter of fact, begins with your own pockets. Novice coin collectors will find these around the house or in clothing. Once you’ve found the ones you like, you can start to move on to searching for coin sets and items that you find visually pleasing. Who said that they all have to be rare? A part of the fun is finding coins that you find aesthetically pleasing. You can also find admirable and unique coins to add to your new collection.

Challenge Coins

Did you know that coins were once a fundamental part of the military? Service members were presented with a coin to show appreciation for their dedication and loyalty. These were coined the term “challenge coins”. These small medallions are still carried by men serving the United States. Among them are soldiers, airmen, sailors, Marines, and even your local firefighter or officer. But where does the “challenge” come into play?

If you have obtained a challenge coin, it is typically due to your involvement in the police department, fire department or Boy Scouts. This coin continues to be a highly favored collector’s item for its patriotism. Many decide to pass them onto their children for the worth and historical significance.

Finding Old, Gold and Rare Coins for Sale

In order to start collecting coins that have greater value, you will need to dig into your own pockets as they are often more pricey. When carefully searched for, coins that are old, rare, or gold can be an asset to your collection.

One pivotal way to go about finding these collectibles at a good price is to remain patient and keep your eyes open. Coins that are sold due to an error will often become sold for a quarter of the price at sales. Holding onto a rare coin will also make it more valuable over time. Professional coin collectors also suggest visiting your local bank and requesting a few coin rolls. You never know if you will find a coin that is old, gold, rare, or even all of the above.

As with all collectibles, it takes time to accumulate a notable amount. Coin collecting is a hobby that is enjoyable, rewarding, and overall an investment for the future generations in your family. You can either find value in the coins you own or go to sales featuring selective products that you want to invest in. All in all, it is important to remember the historical significance of this timeless recreational activity.