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Wanna Start On Collecting Coins? by Cecelia Wong

With so much information and beauty contained in so small a package, it is no surprise that coin collecting has been a hobby nearly as long as the concept of coins themselves.

The history of gold coins dates as far back as 2,700 years ago. The first gold coins in the world were issued in Lydia around 640 B.C. certain internet websites will provide you with a lot of information about the history of gold coins.

Many countries produce gold coins for collectors or for commemorative purposes. These coins oftentimes emphasize unique aspects of the country's culture.

How would you feel if you knew that you had handed over a penny worth $2,000 or more as change for a dollar?

Although the aesthetics may change, price does not. The value of your coins stays the same regardless of colour.

Coin collecting, or numismatics is a hobby as old as time. As a hobby, it has been around for more than 2,500 years. This is surprising since the use of coins has been around for pretty much that same amount of time too. There are various reasons to collect coins. Some people collect coins from a specific period of time, some collect coins based on perceived future value, some collect coins based on type of metal, some for historical value.

Commemorative coins are a popular form of collection, as are rare minted coins like those which had an error in their stamping. If a certain set of coins doesn't interest you, it won't be any fun at all to become a collector.

If you have a long-term relationship, however, the margin does not need to be as high for the coin dealer to make a good profit.

Wanna Start On Collecting Coins? A Worthwhile and Educational Hobby

There are many reasons why one collects coins. There are collectors who collect on the basis of the coin's future perceived value, some collect coins coming from just one particular 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 coming 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. The hobby of coin collecting 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 and many of them have made coin collection a lifetime hobby.

The hobby of collecting coins involves spending money from the very start so it is good to join a coin collectors group 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 coin dealer of good repute when your are new to the hobby, so having someone that has been in this hobby for years can be of great help to guide you on choosing an honest and knowledgeable coin dealer. Begin by acquiring a big magnifying glass and examine coins in a bright area 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 bookshelf folder" for that series.

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

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 collecting for investment purposes can be a tricky endeavor. As money, gold coins have been a convenient way for people to do their transactions. As you become a more experienced coin collector your "eye" will mature and you'll be looking more closely at details like the lettering on a coin, making sure the letters are still clear and not worn down.

Three basic rules here: buy what you like, buy what you can afford, and buy at a reasonable price. Follow this advice and you'll enjoy your coins more, you won't pay too much for them and you won't go bankrupt.

On the flip side of the American Eagle gold coins is a nest full of bald eagles, the national bird of the United States. The nest represents the American dedication to unity and family.

Coins, which were printed on standardized weights of precious metals and stamped with a government guarantee of value, was the answer to this unwieldy, easily sabotaged trading process. For most gold coin collectors, there are the highly coveted rare gold coins and a lot of gold coin collectors are interested in these rare gold coins that they will offer high bids just to be able to get their hands on these.

There were only a few coins with this error, and their scarce nature has made them valuable to collectors.

Ancient kings (and even today's leaders) had a telling habit of having their faces imprinted on their currency.

There are so many different kinds of rare coins to collect, ranging from gold bullion coins to ancient Roman coins, that it is impossible to be a true expert in all of them. You'll want to find a merchant that specializes in the particular area that is of interest to you.

"A Guide Book of United States Coins" or universally known as the red book", which is published yearly, provides a good outline of the U.S. coins 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 from Coinage" (coin collecting magazine) contain many useful facts and information as well articles about your new found hobby plus a lot of great photos.

The newspaper, particularly in the numismatic world 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 present happenings in the world of numismatics. As you grow more experienced in coin collecting, your "eye for coins" will improve and develop maturely so that you now will be scrutinizing more carefully the features and details such as coin lettering, making certain that the letters are not blemished or blurred, but are still distinguishable.

You will be spending so much interest and concentration on the coin's general state that eventually you can walk away from certain coins that show evidence of abrasion, and will then be experiencing the fun side of coin collecting.

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 continuing the hobby.

Your knowledge and training will save you a lot of money as well as make you money when the time comes, but more importantly, 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 studying and learning, because the better you understand, the more that you will enjoy your new found hobby.

The collection of ancient, commemorative, and rare coins is a fun and exacting hobby, and opens up a realm of history that most people never get to see.

An avid coin collector will be able to tell you virtually every piece of history that surrounds any coin in their collection both because they tend to specialize and because knowledge is one of the most important factors when it comes to starting and maintaining a collection of any value or worth.

Some people have made a lot of money buying and selling coins, others have lost fortunes. If you are serious about investing in numismatics, first spend a bit of time learning.

Hobbyists usually start collecting coins from their own locality. This makes sense because they are the easiest to collect. These hobbyists then expand their collection to coins from increasingly farther and earlier origins. Scarcity should not be confused with overall mintage. During the silver booms, many, many silver coins were melted for there bullion content.

Other than printing problems, another reason why rare coins can be minted is when the wrong precious metals are used to make the coins.

While there are some real gold coin enthusiasts in the internet, there are also those people who are posing as gold coin collectors and are just looking to rip you off. You can get a silver locating device or a magnetic pole for finding loose coins in ditches, under cars, or in other hard-to-reach places. Or simply rely on your eyes to identify those gleaming metal circlets of potential wealth.

During the Renaissance, popes and nobility began collecting coins for their artistic and historical value, and the name "the hobby of kings" was born.

Always be on the lookout for rare gold coins, and have coins appraised by a gold coin expert to avoid large differences in price.

Article Source: http://www.earticlesonline.com/Article/Wanna-Start-On-Collecting-Coins-/117792

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