Hey everyone! I’ve got a fantastic article to share today for those of you who are new to coin collecting or are thinking about diving into this fascinating hobby. When I started, I was pretty clueless, so I hope this helps you get off to a great start! It comes from the folks at Coin World, one of my favorite magazines.
Coin collecting, once known as the hobby of kings, still captures the interest of political leaders, business moguls, and celebrities. However, these days, even kids and people on a tight budget can enjoy building their own collections of coins.
The U.S. Mint notes that coin collecting became popular with the general public during the 1930s, right in the middle of the Great Depression. This interest grew as companies started offering affordable coin folders for various coins still in circulation, and commemorative coins gained popularity.
Starting out, this hobby might feel a bit daunting, but follow these five steps, and you’ll be calling yourself a coin collector in no time:
Like most hobbies, coin collecting has its own jargon. For example, coins with grades like “Fine” or “Very Fine” are circulated coins that might look quite worn compared to those in “Mint State.” The U.S. Mint provides a glossary of common coin terms, which can be a helpful resource for beginner collectors to understand guides, news, and descriptions.
For thousands of years, different societies have produced their own coins, so it might help beginners to start with a particular niche. Your focus will depend on your interests, budget, and reasons for collecting coins. Remember, you can always shift or expand your focus as you learn more about the hobby.
Here are some examples to help you pick a niche:
Once you’ve chosen your starting point, consider getting some supplies to expand your knowledge and keep your collection organized and safe. Look into books and online resources about your specific niche. Items like albums, protective coin holders, and display cases might be useful. Many collectors also find that a good magnifying glass or jeweler’s loupe is a worthwhile investment.
Almost every community has coin collecting clubs, which can be a great way to connect with fellow collectors and even experts. These connections can broaden your knowledge and inspire you. If joining a local club doesn’t appeal to you, there are plenty of online communities and forums. Engaging with other collectors can be invaluable, as seasoned collectors can guide newcomers to useful resources and help them avoid common pitfalls.
[Editor’s note: Joining a local coin club was the best move for my collection. The learning experience is fantastic, plus it’s FUN, and you can even trade coins!]
Keep searching for coins to add to your collection. Depending on your focus and budget, how you find coins will vary. Some collectors like hunting in pocket change or bank coin rolls, while others prefer online or local auctions, coin dealers, issuing mints, or private sales. Collectors often use a mix of these methods to find coins that work for them. As new collectors explore potential purchases, their knowledge will naturally grow.
Over time, collectors discover that numismatics, or the study of coins and related objects, is an educational, thrilling, and possibly lucrative hobby. Even expert collectors are always learning. The beauty of coin collecting is that there’s enough to learn to keep anyone interested for a lifetime.
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Joe O’Donnell, digital content producer, joined the Coin World editorial team in 2014. He writes web content, manages Coin World’s social media, compiles content for daily digital newsletters, and occasionally contributes to the print magazine. Joe enjoys interacting with Coin World readers, especially while covering stories like the Saddle Ridge Hoard sale and the 50th anniversary of the Kennedy half dollar releases.
P.S. That picture above is of me and a coin club member trading coins at Starbucks. Is there anything better than coffee and coins?
