The Ultimate Hobby of Coin Collecting in 2023
Are you looking for a new hobby that will bring excitement and adventure into your life? Look no further than the fascinating world of Coin Collecting (also referred to as Numismatics).
Coin Collecting is a fun and intellectually stimulating hobby that has been around for centuries. It is well-known that kings and other royalty have partaken in Coin Collecting which is why it’s referred to as the “hobby of kings”.
Nowadays, Coin Collecting is a popular hobby that can be enjoyed by people of all ages and backgrounds, regardless of their wealth. All that is required for Coin Collecting is a passion for coins.
Coin Collecting Types
To start Coin Collecting, it is important to first educate yourself on the different kinds of coins to collect which include, but are not limited to, the following:
- Ancient Civilization Coinage
- Bullion Coins
- Circulated Coins
- Commemorative Coins
- Proof Coins
- Uncirculated Coins
Handmade Roman, Egyptian, Persian, Greek, and Chinese coins made of gold, silver, electrum, copper and its alloys, bronze, or brass
Coins made of gold, silver, platinum, or palladium and valued by fineness and weight. Their weight and purity are guaranteed by the U.S. Government and they are also allowed in an IRA
Coins that have circulated in commerce that are made of silver, a silver-copper composition, or a copper-nickel composition (aka Business Strikes)
Special proof or uncirculated collector edition coins that pay tribute to important people or events that are made of gold, silver, platinum, or palladium
Coins that are struck twice (instead of just once like regular coins) that have a brilliant mirror-like surface
Coins struck with quality enhancements with a fine mint appearance and luster that have never been circulated
Reasons for Coin Collecting
Coins have been used to facilitate trade and commerce, represent wealth and prestige, and wield power and authority. They have also played a pivotal role in major events such as the discovery of the New World and the American Revolution.
Collecting and exploring coins from different eras and countries throughout the world is a fantastic way to learn about history and gain a deeper understanding of the world around you.
Coins depicting important individuals such as rulers or religious figures can provide valuable insights into a society’s political and religious beliefs while other designs, symbols, and inscriptions highlight significant events or accomplishments telling a story about social and cultural values.
For example, coins from ancient Greece often included images of gods and goddesses and coins from the Roman Empire often featured images of emperors, military victories, and mythological scenes.
Coin Collecting can be a worthwhile investment opportunity for those who are willing to do their research and invest wisely. As with any investment, the potential returns depend on a variety of factors including rarity.
Collectors also invest in certain coins because of the precious metals used to make the coin. Because silver is a valuable commodity, some of the most popular coins to collect for financial gain are Morgan Silver Dollars, Peace Silver Dollars, and Walking Liberty Silver Half Dollars.
A coin’s value depends on rarity, age, and any errors (i.e. misprints). It also depends on the coin’s condition which is based on a grading system. The grading system provides a standardized way to assess the quality of a coin.
The most widely recognized and accepted grading system is the Sheldon System which uses a 70-pont grading scale, with 1 being the worst condition and 70 being the best condition. Grades are determined by evaluating several factors such as:
- Luster (shine and brilliance)
- Strike (clarity and design quality)
- Surface preservation (amount of wear, scratches, or other blemishes)
- Eye appeal (overall attractiveness of the coin)
Beyond historical or monetary significance, Coin Collecting can also be based on aesthetic value. Collectors that collect coins for their beauty take into account their design and craftsmanship.
They appreciate the amount of skill needed to create a coin and are drawn to the artistry involved in designing coins such as the intricate details, varying textures, and use of different metals which contribute to their visual appeal.
Some coins have even become famous for their beauty and artistic merit such as the Saint-Gaudens Double Eagle which is often considered one of the most beautiful coins ever produced.
Coin Collecting is also about the thrill of the hunt. Finding a rare or unique coin can be exhilarating and for some, it is addictive. It’s also an incredibly satisfying feeling when completing a set or collection.
If you want to enjoy Coin Collecting without spending much money, you could collect replica coins that replicate the designs of popular coins but are not priced like the real deal coins.
Replica coins are clearly marked with “copy” so that they don’t deceive consumers (unlike fake/counterfeit coins). Although copies are usually not considered valuable, there are some replica coins made of precious metals that do hold value.
Coin Collecting Supplies
To be a coin collector, there are some basic supplies needed that will help to properly store, protect and display a collection. Firstly, coin holders or capsules are required to protect the coins from dust, dirt, and other harmful elements.
Coin holders are made from materials such as plastic or cardboard and come in different sizes to accommodate various coin sizes. Capsules are hard, plastic containers that provide extra protection and are a great way to store individual coins that hold a lot of value.
Secondly, it’s beneficial to have a coin album or a binder with coin pages that can hold the coins securely in place. These albums come in various sizes, depending on the size of the coins, and they offer a convenient and organized way to store and display the coins.
Finally, collectors may also want to invest in some cotton gloves to handle the coins, a magnifying glass to examine the details and inscriptions on the coins, and a scale to weigh the coins.
All of these supplies are not necessary for every collector, but they can be useful tools for those who are serious about building and maintaining a high-quality collection and want to ensure its longevity.
Now that you know all the benefits of Coin Collecting, what are you waiting for? Start your Coin Collecting journey today and uncover the hidden treasures waiting to be found! Get started Coin Collecting by browsing our store’s collectible coins.
This concludes our article on the Ultimate Hobby of Coin Collecting.