New Coin Collecting

Coin collecting is one of those hobbies that for most collectors, started by accident. Usually the coin that sparked the interest was a coin found in circulation. It could have been a foreign coin, or one from the country it was found in, but something unusual about the coin drew the attention of the collector. From there the collector likely started collecting other coins in circulation and eventually went on to become a more serious coin collector.

Coins were collected even in ancient Rome, although it is not clear if this was coin collecting in the modern sense, or just coin hoarding. Petrarch was the first man known to collect coins in the ordered approach of a modern coin collector. Petrarch lived in the 1300s in Italy and given his fascination with classical culture and literature, his collection probably included ancient coins. Since then, a number of different approaches to coin collecting have developed around the world.

The coins that collectors acquire can range from ancient coins to coins from modern nations that no longer exist. Some collectors even specialize in collecting coins made with minor defects in them. Many collectors choose a specific year or a certain series of coin to collect. Comprehensive coin collections, where a collector has every type of coin issued in a country, are extremely rare. Some people however, manage to assemble comprehensive coin collections from one country or another.

Most collectors start out collecting coins belonging to the currency of the country they live in. Usually it’s something unique or eye catching to the budding collector that rouses their interest. From this start, they may go on to collect specific years or valuations of coins. Usually the initial interest provokes reading about coins and coin collecting and then they’re off.

The best way to start collecting coins is to buy a coin collecting reference book and to join a coin collecting club if possible. The coin collecting reference book will both help you to develop an understanding of the valuation of various coins and to allow you to develop an appreciation of the variety of coins collected. Being able to join a coin collecting club as well would be especially helpful. Your fellow club members are bound to be more widely experienced at coin collecting and buying than you are. Furthermore, they will know trustworthy coin dealers, they will also know about coin collecting shows and you might develop some good friendships along the way.

A useful strategy for building a coin collection is to find a coin dealer that you can trust and get advice from. This is where joining a coin collecting club would help, because other members would know such individuals. Although some people might think that a coin dealer could have a conflict of interest in giving advice, the experience that a coin dealer could offer in terms of the coin collecting world could be invaluable to you. Obviously you will have to decide on what kind of budget you will follow in building your coin collection. This in itself will give you some kind of structure in terms of how quickly your collection grows and what you buy.

An outstanding coin collection may take a lifetime to build. Like many hobbies, the real advantage of coin collecting is the fascination, interest and mental absorption that the activity can offer the coin collector. If you select your collection well, you may even make a profit on the side.

Michael Russell
Your Independent guide to Coin Collecting

Article Source: http://EzineArticles.com/?expert=Michael_Russell

Coin collecting may not be a passive hobby as some might think. The hobby requires delicate attention to detail and proper handling of valuable coins. So how does one handle and maintain a coin collection properly?

Touching Coins

Handing coins can have an effect on the coin’s condition. It’s important to consider carefully how you touch your coins. The fingers contain bodily oils and grit that might affect the coin’s color or cause scratches on the coin’s face. In fact, excessive touching may cause it to discolor. To be sure that you handle coins properly, wear latex gloves. Another safe practice would be to handle the coin on the edges since you won’t affect the front and back parts of the coin.

Breaking the holder or container would not be a good practice for coin collecting. By doing so, you’ll decrease the value of the coin from a mint-issue package. If a minted coin has a holder, then the container is part of the set - meaning it’s intended to be intact. Breaking it would make it less valuable.

Constant coin handling will ultimately diminish the value as well. If you have to touch the coin, it’s best to wash your hand thoroughly. In addition, make sure that you don’t put the coin on a hard surface. Placing the coin on such a surface could cause scratches on the item’s surface.

Temperature and Humidity

Coins for collecting should be placed in an area that is as close to room temperature. Coins in a damp or cold basement or in a hot attic will cause coins to oxidize and ultimately age. Rooms that are dry should be what you should seek to store coins. Moreover, storing the coins in the basement or attic will expose the collectibles to an environment that will break down the storage containers.

Coin storage

Storage is also a very important part of coin collecting maintenance. Find containers or plastic pockets that protect the coin from the elements. Some you can find available in sheets at a hobby or coin collector shop.

Cleaning Coins

You should seriously weigh the benefits and disadvantages of cleaning coins. Sometimes cleaning or polishing a coin is not the right thing to do, especially if the coin is in a packaged container. If the coin becomes exposed to air, the metal may oxidize or lose it’s toning.

Do not use metal cleaners to clean the collectibles. Doing so will also have damaging consequences such as discoloring.

However, if washing is a must, make sure you wash your hands with soap to remove oil or grit. You can then apply a soapy bath for the coins in a small container. Look for a plastic container since hard surface containers like glass might affect the coin properties. Gently rub the sides of the coins once it’s in the bath. When you complete cleaning, dry the coin with a soft towel.

Coin collecting is a hobby that one should be careful in maintaining the assets. Not applying careful coin handling techniques could seriously affect the value of the coins. There are plenty of resources to help you get started with coin handling and care.

Michael Russell Your Independent guide to Coin Collecting

Article Source: http://EzineArticles.com/?expert=Michael_Russell

When you approach the fascinating hobby of coin collecting for the first time, it can be very daunting to look at the many possible options available to you. There are many specialist areas in which you can invest your time and money, or of course you can always remain as a general coin collector, never deciding to specialize.

Often the best way to start collecting coins is just to start with the coins in circulation in your own country. This is a risk free option, as you can always decide to sell the coins if you decide the hobby is not for you. While you are doing this, you can obtain a good reference book on the hobby and begin to think of a specialist area you might want to pursue.

You could, of course, decide to specialize in the coins of one particular country. This is a very common way for collectors to start. Others go to the opposite extreme and try to collect coins from as many different countries as possible. Many collectors will only collect coins from a certain period in history, such as collectors of ancient coins.

There are many different types of specialization available within each of these broad categories. Many collectors are series collectors. They will try to obtain one example of every possible date and mint mark that was produced, including any major differences in the design of the coin.

Type collectors go beyond this, by collecting many different series, even trying to obtain all possible series within a certain type. They will usually concentrate on the coins of one country, at least at that particular time.

Collectors of ancient coins are a “breed apart”. It is surprising how many of these coins remain available today and how relatively easily obtained they are. Even going back to several centuries before the birth of Christ, coins are readily available that fall easily within the average collector’s budget. Gold coins are the most expensive, followed by silver and then bronze. It is possible to obtain a coin from before the birth of Christ for only £5 ($10) to £10 ($20).

Another breed apart are the collectors of tokens. In Great Britain, for example, tokens were often privately produced in response to the Government’s failure to produce the necessary low-denomination currency to allow many forms of trade to take place. These privately produced tokens were used in place of official government issue coinage and the Government was largely unsuccessful in preventing their use. This happened in three different centuries, in the middle of the seventeenth century, towards the end of the eighteenth century and at the start of the nineteenth century.

Even after government legislation was passed outlawing these unofficial tokens, their use still continued. They were used in place of the farthing, the quarter of a penny coin, until the end of the nineteenth century. After this, when inflation had eliminated the need for these tokens, other forms of artificial money were still used.

It can be a fascinating part of the hobby just deciding which among the many options you are going to choose. Please make sure that you avail yourself of an excellent reference book so you can make an informed choice. I wish you many happy hours.

Michael Russell Your Independent guide to Coin Collecting

Article Source: http://EzineArticles.com/?expert=Michael_Russell

Your average numismatist may or may not indulge in coin collecting.

One could also say on the other side of the coin a person who spends their time collecting coins could or could not be a numismatist. The hobby of coin collecting can be traced back to the fourteenth century and some have even said the Roman emperors were known to have coin collections but it really is not known if it was a genuine hobby or if they may just have been hoarding the coins!

The hoarding of coins goes back to the very beginning of coinage where people kept them for the coin’s value and coin collecting later developed and is known as the “Hobby of Kings” as well.

Because of the number of coins that have been minted throughout history are so vast no coin collector could ever hope to collect a sample of every coin produced. Probably King Farouk of Egypt, with the vast resources he had access to may have had the largest and most spectacular general collection in the world during the mid twentieth century.

Also because of the vast range of coins on this planet two types of coin collecting have emerged – the generalist who collects a bit of everything in the way of coins and the completists, who wants to have an example of everything within a certain range of coins. The only collector known thus far to have assembled the complete set of known US coins is Louis Eliasberg.

Coin collecting could be divided into the following specialty areas or collections:

Country Collections are where coin collectors obtain examples from every country that issues coins but these could also be collectors who try collecting every coin from a certain country – normally their own

Year Collections is coin collecting of certain type of coin from a certain year or trying to collect a certain type of coin from all the years that coin was minted.

Mintmark Collections apply to coin collecting of coins produced by different mints that carry their distinct mark on their coins. Some mintmarks are rarer than others and this is what makes collecting different mintmarks exciting for collectors.

Variety Collections are coin collecting of the same coin produced from different dies and these collections are commoner among old coins that could come from hand carved dies.

Error Collections are collecting of coins with errors in them but since the 19th century when production methods were refined, this has become rarer today. Even in this day and age errors such as over-dates, re-punched mint marks, double strikes and off center coins do happen. Coins that carry different denominations on their two sides are known as mules.

Coin collecting under certain Subjects and only of a certain Period in history are also very popular themes as well as coins making up Composition Collections. These are collections of coins made from certain materials like gold, silver and platinum but not only limited the precious metals.

Coin collecting may be taken up for investment purposes too but again be warned in that certain coins could lose their value over time. As already stated you don’t have to be a numismatist to undertake coin collecting but it wouldn’t hurt and you defiantly must be passionate about this form of collecting.

People from all over the world study, collect and invest in rare coins and bullion coins. These hobbyists are called “numismatics”, and many take their hobby very seriously! Coins are so fascinating for many reasons. One is that coins represent many different and exciting periods in American and World History. There are always interesting stories behind these coins and they are genuine mementos of past history. Their historical interest is unique to every culture that has ever used coins, and has played an important part in the economic growth of these societies.

Collectors of anything, whether it’s toy trains, rocks, hotwheels or artwork offers the collectors a feeling of satisfaction. Coins have the added advantage of their extraordinary endurance, easy storage and display factors, and importantly, the ability to complete sets. Collectors should take good care of their coins (and usually do!), since they will probably last for hundreds or even thousands of years! The earliest known coins were from the Lydian society, and were called “starters”. They were made of a gold and silver alloy, and were used around 600-700BC! So we know that coins can last a long time! Starting a coin collection is easy and there are several ways you can so this. A favorite way of collecting is to start a general collection of a variety of different coins. For example, you might acquire a Liberty Walking Half Dollar, Buffalo Nickel, an Anthony Dollar, or a Peace Silver Dollar. You’ll probably become attracted and interested to one or another because of its intricate design or interesting history. You then might want to complete a set of this particular coin, say every date and mint mark for the Peace Silver Dollar for example. Or you could collect one example for every different Buffalo Nickel, and then proceed to a different coin. The choice is your preference (and budget!). Anyone can find a coin that they like that will fit into their budget, and allow them to complete a set.

Another popular method of collecting is to buy type. You do this by assembling coins that have different stamps or designs. You can collect coins of any one denomination (for example, all cents, all quarters, all dimes etc.), or maybe just collect the coins of one century in history. This kind of collecting coins will help you to see the full overview of the coin designs, and just how these designs progressed through history.

If your budget doesn’t permit you to collect a complete set of a coin that you really like, you can collect a Year Set. This would consist of acquiring a coin from each year that the particular coin was minted. You don’t have to worry about mint mark, just the year. So if you want to collect sought after and valuable gold coins, such as the Indian Head $10 Gold piece which was minted from 1907 to 1933, you would just collect one of each year regardless of which Mint it came from. (If it was minted in Philadelphia or San Francisco for example, it wouldn’t matter, just as long as you have one coin from each year.) This is a fun and lesser expensive way to complete a coin collection, and will give the collector immense pride and much satisfaction!

Collecting coins is really very easy to do today. People with middle income budgets, or even those with less modest budgets, can all enjoy the fun and excitement of coin collecting. Get started by visiting the many numismatic (coin collecting) sites on the web. Research all of the interesting coins you can. Find a coin you like and start collecting today!

Coin collecting has become a multi-billion dollar industry across the world. The earliest coin collecting hobby can be traced back to about 1300 AD when Francesco Petrarca, an Italian scholar and poet, started saving coins and realized the growing value of his collection over time. Coin collecting differs from numismatics in that the latter is focused on the study of different types of currency including coins, notes and other monetary objects.

Coin collectors specialize in different types of collections. Often this is determined by the financial resources that can be invested as well as ease of availability of the type of coins. Collections vary from focusing on a specific country (often the most common form of coin collection since it’s easier to accumulate coins from one’s own country or a country that one frequently travels to) to a certain historic era like the US Colonial Period, the Russian Revolution etc.

Other obscure forms of collection include focusing on collecting error coins or exonumia where coins created due to die errors, uneven designs, double strikes, etc. are in great demand. A much more specialized but highly difficult form of collection is to focus on coins from a specific civilization in history, like the Roman, Celtic, Aryan or Goth eras.

Those interested in coin collecting can find hundreds of coin collecting clubs in their areas where members gather to discuss trends in numismatics as well as to evaluate rare coins. In the US, the American Numismatic Association has a large roster of coin collectors from around the country. Formed in 1891, this organization encourages research and collection of different types of currencies. The ANA brings out a monthly magazine called the Numismatist that is a treasure trove of data for the avid collector. The ANA also publishes a coin value determination guide that provides clarity around the complex subject of coin valuation.

The coin collection market, like the stock and real estate market, has its ups and downs. The value of a coin is cyclical and can vary strongly based on demand or other current events. Often, coin collectors will find that certain coins may never appreciate over time even though they may be from a unique era or period. Conversely, other commonly found coins like the 1 cent from, say a Lincoln era, may appreciate in value. Many coins may also incur costs for storage since they may have to be kept in sterile conditions to prevent damage from oxidation or general touch.

For those interested in coin collecting, the easiest way to start is by collecting coins from their own country and then gradually focusing on a specialized area. There are numerous stores (both physical and online) that carry a large inventory of rare coins. Auction sites like eBay also have frequent listing of rare coins. Caution must be exercised when purchasing from online stores since certificates of authenticity can be tampered and fake photographs can also be published. If possible, it is recommended to use online escrow services that will collect the payment on behalf of the seller and subsequently pay the seller only after the buyer receives and verifies the coin.

Michael Russell Your Independent guide to Coin Collecting

Article Source: http://EzineArticles.com/?expert=Michael_Russell

Coin collecting. An associate of mine remembers receiving as a child a big paper bag of old US silver dollars, some going back as far as the late 1890s. Sometime between then and today he has misplaced that old paper bag. To this day he wonders if any of those coins might have been worth something.

There is no arguing that coin collecting is one of the biggest and most expensive hobbies in the world. The price tags of some old coins would turn your hair grey. In this article we’re going to review the 10 most rare coins in existence. Wait until you see what some of these are going for.

Starting at number 10, there are the “proof gold” coins. Today the mint strikes millions of these coins every year and sells them to collectors from all over the world. However in the 19th century the mint struck only a few thousand of these each year and only a handful of proof gold coins. These are very rare and very expensive and sell very well in good and bad market times.

At number 9 we have early US gold coins struck between 1795 and 1834. These were minted in denominations of $2.50 $5 and $10. Today these coins are very rare in any condition and super rare in mint condition.

Coming in at number 8 we have the Liberty Seated Dollars. These coins are said to be the most beautiful ever made and one of the rarest of the 19th century coins. Both circulation strikes and proofs are very rare.

Hitting the chart at number 7 we have a very odd coin that was minted between 1875 and 1878. These were twenty cent pieces. Unfortunately the coin looked too much like a quarter to catch on with the public and there was no real commercial need for the denomination. Today they are highly prized collectors items. These coins today are very rare in top condition.

Number 6 on the coin hit parade are the Barber half dollars. These were minted between 1892 and 1915. They are one of the coin markets most important issues. They are collected by both “date” and “type” collectors and are the rarest of the 20th century silver type issues. These are very rare coins and to find one in gem condition is a once in a lifetime occurrence.

Midway up the chart at number 5 is the 1917 Type One Standing Liberty Quarter. This coin was made for only 2 years. The exposed breast of Miss Liberty caused such a commotion that they had to radically change the design midway through 1917. Since the 1916 is a 5 figure rarity (in the 10’s of thousands of dollars) this coin is essentially a one year issue.

At number 4 are the Mercury Dimes. Even though this dime was minted between 1916 and 1945 proofs were made only between 1936 and 1942. Mercury dimes minted between 1940 and 1945 are actually reasonably priced and sell for about $50 a piece. The proofs are a little more expensive.

Just 2 spots from the top at number 3 is the Walking Liberty half dollar. This is also one of the world’s most beautiful coins and extremely popular with coin buyers. These coins are very hard to find in mint condition. All five of the issues between 1941 and 1945 have made the all time rare coins price list.

Falling just short of number 1 at number 2 is the Texas Commemorative Half Dollar. This is actually the number 1 commemorative coin on the all time rare coins price list. Between 1934 and 1938 about 150,000 of these coins were minted. Only about 60 to 80% of those have survived to this day and only 50% of those grade MS65 or better. So this is indeed not only an extremely rare coin but actually considered scarce.

Finally coming in at number 1 is the Saint Gaudens. This $20 piece is probably the world’s most well known coin. It is one of the most beautiful coin designs in history. This is one of the few coins that didn’t drop in price during the 1980-1982 bear market.

In a future article we’ll cover how coin collectors go about getting rare coins and where they can be found both on and off line.

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Michael Russell
Your Independent guide to Coin Collecting
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Article Source: http://EzineArticles.com/?expert=Michael_Russell