Coin Collecting - a guide to a valuable past-time

Buy or sell coins online at these sites:

If you collect coins, you’re not alone: the U.S. Mint reports that over 100 million Americans are involved in coin collecting. Collectors will tell you the value of coins reaches far beyond their monetary worth. Gold and silver may be valuable, but coins can provide a link to the history, geography, economics, art and politics of the time they were circulating in pockets and purses around the world.

The term used to describe coin collecting, numismatics, derives from the Greek term nomisma, meaning ‘coin’, and is defined as ‘the study and collection of coins, paper money and medals bearing a country’s official designs and monetary value.’

Coin Collecting - getting started

The great thing about starting a coin collection is that coins are all over the place. Starting your collection could be as easy as finding those coins from your last overseas trip, looking through that box of stuff your grandmother left you, or browsing a neighbourhood garage sale. Coins are bought and sold on auction sites like eBay are good supplies, and it’s easy to find advice and information through other sites online.

Decide to collect a particular series of coins, coins from a particular country or year, or just the ones that interest you. Most coin collectors do so for the interest’s sake, but some have proof prices can rise and rise. Louis Eliasberg’s $300,000 collection sold for $12.4 million at auction in 1982. Harold Bereford’s collection of gold American coins, bought for around $13,000 in the 1950s, resold for $1.2 million in 1978.

Coin collecting books, magazines, guides and articles

Gain knowledge of coin collecting by reading through books, magazines, guides and articles available on the subject. The resources that are accessible can give you a sound background in the area. You may want to consider joining a coin club or association – these are some of the places to get the answers to any queries you may have about coins. You can also buy, sell and trade with other coin collectors, and you’ll be kept in the loop with advice and details on upcoming events.

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© The Pink Fridge Online Magazine 2009 - Coin Collecting UK

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