Numismatics is collecting coins and other kinds of legal tender such as tokens, paper money, etc. The practice is one of the oldest hobbies globally, involving past Roman emperors. The types of coins collected include coins circulated for a brief period, coins with minting errors, or those with some historical significance.
Benefits of Coin Collecting
Coin collection is a fantastic hobby that has been practiced over centuries. Individuals collect coins because of the different benefits attached to the practice. Below are some benefits of coin collecting:
- It is Educational: Coin collecting teaches about various forms of arts, history, and the methods practiced by ancient people who minted coins. It is also an excellent way to learn about the past and the various practices prevalent during each period.
- Helps to Conserve Culture and Heritage: Individuals gather coins because of their historical and cultural value. Coins help preserve people’s customs and practices by giving us ideas about the ways they lived during each period.
- Opportunity to Make Money: The coins you collect overtimes can appreciate in value with time. Emperor Norton I gold coin is one the most valuable coins, worth over $20,000.
Step-by-Step Guide to Coin Collecting for Beginners
Becoming a coin collector involves various vital steps you need to observe while starting as a beginner.
Step 1. Decide on Which Coins to Collect
Collect coins that you like and admire. You may be delighted by the coin’s design or the historical value it has.
Regardless of what ticks your fancy about the coin, ensure to research well about it to avoid gathering counterfeit coins and only buy coins from trustworthy coin dealers.
Step 2. Handle and Preserve Your Coins Carefully
After purchasing your choice coins, the next step is to ensure that the coins are correctly handled and stored carefully. One mistake most people make is that they assume that coins are not prone to damage due to their metallic nature. This is false as your coins’ surfaces are delicate and prone to damage.
Also, differences in metal properties mean that coins will react differently under various kinds of storage. As such, store your coins in dry and clean containers and always wear your gloves while handling them!
Step 3. Join a Coin Club
One way to deepen your knowledge of coins and ensure that your interest is sustained in practice is to join a coin club! A glance through the net will reveal various local coin clubs you can join. Clubs such as the American Numismatic Association (ANA) are dedicated to numismatic teachings. Regardless of the kind of coin you collect, there is always a club to meet your needs!
Step 4. Buy the Book!
Books are knowledge troves of information about various kinds of coins. While you can access information on the internet and other sources, endeavor to purchase a book such as the popular coin collecting book called Red Book. A common saying among coin collectors is that one should always buy the book before buying the coin. Avoid the “get rich quick” mentality most collectors display and understand that coin collecting is a long-term endeavor that requires patience and skill.
Coin collecting can serve as a hobby or profession for collectors. If you wish to go into the practice, observe some of the above-listed guides for beginners!