What Kind Of Coin Collector Are You?

Casual coin collecting

The most ordinary type of coin collector is the casual collector. Casual collectors are both kids and adults. They collect random coins because they like the fun of it. The casual coin collector does not spend as much money on buying and preserving coins as a more advanced coin collector. Casual coin collectors usually have interest in coins with a special meaning to them, like for instance a coin minted in their year of their birth. Casual collectors often get hold of more interesting pieces as gifts from friends or family members. The gift of a rare coin has transformed many casual collectors to curious collectors instead.

Curious coin collecting

When a collector goes further than just circulation finds and getting gifts. He develops more of an interest in coins and becomes more a curious collector. The curious collector will buy some inexpensive coins, maybe look around coin shops or look at coins on eBay or other related internet sites. That way a survey of potentially interesting areas of coin collecting is made, and as the curious coin collector interacts with more seasoned collectors, he is bit by bit learning the trade of buying or selling coins. Like for instance studying coin books before making any serious decisions about buying expensive coins. At a point most curious collectors learn enough to become an advanced coin collector.

Advanced coin collecting

Every advanced coin collector is a unique coin collector. Some are dedicated generalists looking for a few examples of all kinds of coins. If they do have enough resources, this can result in an astounding collection, as that of King Farouk of Egypt, who collected everything he could get his hands on.

Many coin collectors are completists who want an example of everything within a certain set. For instance Louis Eliasberg was the only coin collector thus far to assemble a complete set of known coins of the United States. Other coin collectors focus on coins of a certain nation or historic period. And some collect coins from various nations or settle on error coins or exonumia like tokens and medals. As you can see, it can vary a lot.

At the highest levels of coin collecting, it is a highly competitive sport. It can lead to astronomical prices as enthusiastic collectors struggle for the very best examples of each date and mint mark combination.

Historical coin collecting

Coin collectors of ancient and medieval coins are more interested in historical significance than other coin collectors. The coins of Byzantine, Roman, Indian, Greek, Celtic, Merovingian, Parthian, Ostrogothic and ancient Israelite origin are among the most popular ancient coins collected. Specialties tend to vary a lot, but the common approach is collecting coins minted during a particular emperor’s time in power. A completist would for example strive for a representative coin from each emperor.

National coin collecting

Usually coin collectors of national coins specialize in the coins of their own country. A common way to collect national coins includes collecting one of every date and mint mark for a particular series. This is termed collecting by type. For instance a date set in Britain may include one Queen Victoria large penny for each year, 1837–1901. In another example a U.S. type set might include an example of each variety of each denomination produced. Most coin collectors of national coins create unique combinations of date, mint mark and type sets.

Error coin collecting

Collecting error coins is a modern development made doable through the automation of coin manufacturing processes. Coin collectors of ancient and medieval coins; accept coins with errors because manual coin manufacturing processes lend unique features to each coin struck.

Examples of coin errors could be repunched mint marks, doubled dies, double strikes, overdates, off metal coins, clipped coins, displaced or off center coins, and different denominations on two sides of one coin.

World coin collecting

World coins are collections of relatively recent modern coins from nations around the world. Geography is often the engine for this type of collector; he can travel around the world through his coin collection. Many collect by subject, for instance collecting coins from around the world featuring animals.

World coins are usually inexpensive and may be a good starting point for children. Most children find foreign coins by looking under change-to-cash machines, where customers throw away assorted coins found in their penny jars. It is possible to find coins from all over the world, ranging from Canada, to South Africa, to Korea.

Coins, Paper Money, Or Stamps

What should you collect as a hobby; coins, paper money, or stamps?

Which is the best investment?

It’s strange that some people who collect coins, paper money, or stamps, always want some kind of return on their investment. These are the same people who think nothing of buying a new car and then selling it a few years later for a fraction of what they paid for it. A new car loses value as soon as you drive it on the road!

As for investing in paper money, if someone is buying notes and thinking how much will they be able to get when they sell them again, this person has the wrong hobby. Enjoy collecting for the pleasure and for the fun of it.

Coins and stamps are tangible reminders of years gone by. Yet, while coin collecting is flourishing as a hobby, stamp collecting is decreasing in popularity. Many families who inherit stamp collections are more interested in getting the collection appraised than continuing the collection. You can’t collect something if you don’t know what it is.

Stamp collecting dates back to 1840, when the first stamp was issued in England. One of the earliest indications of stamp collecting is an advertisement from an English newspaper in which a young woman wanted used stamps to wallpaper her room. Soon, post offices discovered stamp collectors as a good source of revenue. From there, stamp collecting took off.

There are no rules about stamp collecting. Some people collect stamps from a certain country while others focus on a particular theme, such as flowers, or ships, or buildings.

Unfortunately, stamp collecting has simply lost its appeal to younger people.

Coin collecting, on the other hand, is at its peak in popularity. Rare or modern coins offer history that collectors can hold in their hand, and every period from the past 2,500 years is reflected in coinage.

Stamps disappear and become part of the ground. A coin can be dug up and, while new varieties of stamps are not really being discovered, new types of coins from all over the world are still being found. How many stamps or bank notes do you think you’ll find while out exploring with a metal detector?

Whilst improperly stored coins can degrade and lessen in value, paper money can be damaged by handling, sunlight, or water. All are subject to flood, fire, or other natural catastrophes.

A stock certificate with half of it burned away is just as good as a mint one in terms of its value on the exchange. In fact, as long as ownership can be proven, it often doesn’t even matter if the physical certificate exists. The same can’t be said for paper money.

You can insure against these problems, and go to great lengths to maintain proper storage conditions, but all of this costs money and adds to the cost of the investment, often for many years before there is any return at all.

Today, coin collecting is one of the world’s most popular hobbies. Amateur collectors enjoy coins for their beauty and rarity. Added to this is the excitement of searching for and finding specific coins and the challenge of identifying new ones.

Why is coin collecting thriving and stamp collecting dying? Coins are still being used and are still fascinating. It is an investment as well as a hobby. Coins continue to go up in value while many stamps are at the peak value they will ever receive. Furthermore, many are going down in value.

Enjoy your hobby, and consider whatever you invest in it to be pleasure money, the same way you would count money you spent going to ball games, or dining out, or buying new clothes. Then, whatever you or your family get out of your collection is pure profit, whether it is more or less than what you originally paid.

After all, if you spend $20 a week going to the movies, you don’t expect to get anything back for your $1,000 a year collection of ticket stubs, do you?

I believe there is room in both the collecting of coins and paper money for both collectors and investors.

The important thing to remember in investing in coins or banknotes is rarity and desirability.

Antique Coins Collecting for Fun and Profit

You only have to look at how busy the coins section is on Ebay to know that coin collecting is an incredibly popular activity. It’s one of the most popular hobbies around and one of the most profitable too.

Finding coins to collect is easy but finding ones that are actually valuable to collect is the challenge faced by most collectors. As a rule of thumb, the older the coins is the more collectible it becomes as often they are more rare than more modern coins.

The best place to find Antique coins include auction houses, coin shows, coin fairs and malls. But if you are more serious you should visit historical sites where antique coins are more likely to be found. You should bear in mind that the value of Antique coins depends on where it from as well as the age and historical background of its origin. Therefore buying at the historical location gives you a very good advantage over other collectors.

There are a few other pointers you might want to consider when buying an antique coin.

Firstly make sure the coin you wish to purchase is original. This goes without saying but there are many replicas and even counterfeit coins flooding the market, so close inspection to validate their authenticity is a must.

When you start off your coin collecting hobby, start slowly if you are on a low budget. Then as your portfolio of coins increases in value you could re-sell some of it at a profit and buy more valuable ones. If you find a coin that you think is a valuable addition to your collection make sure that you find an appraiser that can determine the value so that you do not get ripped off. So don’t try to value it yourself unless you are quite experienced, and seek the help of professionals when the circumstances dictate like when the coin is quite expensive.

You need to specialize when you start collecting Antique coins so choose one particular era or country to focus on. This will make it easier for you to become an expert. You must also take good care of the coins to ensure you preserve their appearance and thus their value. And be careful not to clean Antique coins to excess otherwise you might actually depreciate their value.

Coin collecting can really be a source of great fun and taking it up as a hobby is probably one of the best decision you can make. As long as you remain patient it will be a long term hobby bringing you plenty of satisfaction for years to come as well as a very profitable investment.