Friday, June 5, 2009

The Basics of Coin Collecting

Coin collecting is said to be the “Hobby of the Kings.” Coin collecting is different from money hoarding. Collecting coins as an art form can be traced back to the 14th century. Today, people all over the world are collecting coins. Some collect it for their value, some just like the sheer fun that they get from getting their hands on different coins.

If one is interested in making coin collecting a hobby, he can very well do so. It is a hobby which does not require a certain skill and it can be done by almost everyone.

There are many different kinds of coin collectors. There are those who do it for fun, and others do in a more serious manner.

Informal coin collecting

Most coin collectors, especially the children, start out as informal coin collectors. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods without any intention of being serious about it.

Inquisitive coin collecting

Once the informal coin collector starts noticing the details of the coins, he becomes an inquisitive coin collector. This kind of coin collector won’t bother much into spending money to get coins. He merely wants to appreciate the coins. Soon, he will start to put them in containers or albums.

Advanced coin collecting

An advanced coin collector will collect coins with a specific target in mind. He may want to collect coins from a certain nation, or a certain time period.

There are many tracks which coin collectors pursue when engaging in their hobby. Here are some of the ways one can use in collecting coins:

Coin collection according to nation

Many coin collectors would want to collect coins from a certain nation during a certain period of time. This kind of coin collection lets the collector travel the globe through the coins. People may want to collect coins from countries they had visited.

Historical coin collection

Another way of collecting coins is by taking in mind history. Many coin collectors engage in collecting coins during a certain period in history like wars or declarations of independence.

Error coins

There are people who find collecting coins with errors exciting because these kinds of coins are rare nowadays.

There are many ways to collect coins and each way is as fun as the other. One must feel the hobby first before he decides whether to stick with it or not. Coin collecting can require certain amounts of money and the collector must be wise in engaging in such a hobby.

Tuesday, June 2, 2009

Software for Coin Collecting: The Smarter Way to Collect Coins

It is a common coin collecting problem: too many coins, not enough information on what kinds of coins to collect, or a disorganized group of collectibles.

The solution?

There are programs that are especially created for computer use, commonly known as software. Coin collecting software packages are created by professionals to help those who are having a hard time organizing and tracking their coin collections.

These systems keep classifying, organizing, and cataloging coins at your fingertips while trying to find other coins that a collector might want to add to his personal collection.

Other advantages of these software packages for coin collecting are:

1. Organizer buddy

It is a coin collector’s best friend. Coin collecting software packages are exclusively created to help the hobbyist organize, manage, and track their coins fast and without difficulty. With almost 300 billion coins that were manufactured by the U.S. Mint alone, who could sort through all of these coins to find the ones they would like to own?

2. Statistical reports provider

With these coin collecting software programs the collector to easily record statistical reports about coin collecting for quick references in the future.

3. Provides numerous ways to interpret, view, and access coin collecting data

With software packages, every coin collector can easily view his data in many ways. He can either choose to view the data in tabular form or in virtual form or can modify these tables and generate reports with just one click.

4. Provides easy-to-use templates

Coin collecting software packages are perfect even for the “newbies” in information technology. This is because there are templates that are available at any time for the recording and organization of data. The collector can then just enter the data he needs to log without having to use complicated formulas.

5. Saves more time

With these software packages, the coin collector will be able to save time organizing his coin records, leaving ample time for other activities. This means spending less time organizing and managing coins and more time for enjoying the hobby.

The tedious job of keeping a systematic record is sometimes the main reason some coin collectors give up the hobby, and why employing such tools will make coin collecting more enjoyable.

Using computer technology is the better way to make coin collecting easier.

Thursday, May 28, 2009

Types of coin collectors

Some collectors amass collections purely for fun with no real profit expectation. This may be most common with children just starting into coin collecting.

A common reason given for purchasing coins is as an investment. Coin prices can be cyclical and prices may drop for coins that are not in great long-term demand. In addition to demand, condition and rarity are also determinants in pricing. The age of a coin is not, per se, a factor.
Many of the reasons given for investing in coins are similar to those given for investing in stamps, precious metals or other commodities. As with most collectibles, a coin collection does not produce income until it is sold, and may even incur costs (e.g. for safe deposit box storage) in the interim.
While collecting for pleasure can make an enjoyable hobby, those entering the field primarily to profit should be warned to study before buying. Certain companies, some of whom may advertise on television, in newspapers, or in popular magazines, are alleged to make outlandish claims about the present and future values of their wares. After learning the basics of the field, it is often possible to make better purchases from reputable dealers.

Coin hoarders are similar to investors and collectors in the sense that they accumulate coins. However, they typically do not focus on one specific variety, rather they gather whatever coins they can and hold them. This is most common with coins whose metal value exceeds their spending value.

Commercial Buyers and Speculators
Commercial buyers and speculators purchase coins solely for the value of the metal used in the coin. Often, the coins purchased by this group are melted down or distributed as bullion for commercial purposes. Typically they purchase coins that are composed of rare or precious metals, or coins that have a high purity of a specific metal.

Someone who acquires coins (collection, hoard, investment) from another person. The inheritor does not necessarily know anything about numismatics, they just have the coins.

by :

Stamp Coin Collecting: The Valuable Twins

Humans are known to engage into different kinds of diversion to unleash the boredom that life sometimes provides. There are people who use coin, stamp, or sticker collecting to accomplish this while others are satisfied with other hobbies such as cooking, gardening, crafts, etc. All of these provide a certain kind of satisfaction that they can’t achieve in other activities.

Two of the most popular hobbies in the world today are the stamp and coin collection. The value of these two leisure activities is incomparable to other types of hobbies.


It is because coin and stamp collecting do not just embody the mere act of accumulating different kinds of coins and stamps but also personify the preservation of a nation’s history. Both stamp and coin collecting highlight the different images that are used to visually record a significant event or era in history.

The two have become indistinguishable as far as value and appeal is concerned. For people who wish to collect coins, stamps, or both, here are some of guidelines that you need to know in order to start.

1. Do some research

It is not enough that you are interested in stamp and coin collecting in order to start the activity, it is also important to do your homework first so that you will have enough knowledge about this activity.

2. Be wary when buying items

If you cannot obtain stamps and coins for free, and the only way to start your collection is to buy the items, be very meticulous about it. Know the seller’s reputation. Research his history and determine the length of time he has been in the business. The point being that the longer he has been in the business, the more reliable his reputation probably is.

3. Know how to identify the correct item

Do not just buy stamps or coins without learning how to classify and identify them. For coins, it is best that you know how to grade them. For stamps, you should know how to identify any slight disparities in the kind of paper used or other distinguishable features such as watermarks, color, or perforations.

These are just some of the many pointers that every stamp and coin collector must know. With these tips, you can now start your stamp and coin collection without difficulty and with confidence.

Tuesday, May 26, 2009

Do's and Don’ts of Coin Collecting

Coin collecting is something that takes time to learn. The most important thing to remember is that you are doing it for the right reason - if it is a passion, then it is something worth pursuing.

Collecting just for profit may work but it usually is not enough in the long run. A person really has to think about this since many people who have tried it for that reason have lost focus and failed.

Successful coin collectors take a lot of time to learn everything there is to know about numismatics. Good sources of information are magazines, newsletters and brokers who can pass on information and news, when it happens. By using the resources a person can act fast before other collectors who want the same thing get the information first.

If a person tries to collect without knowing the basics, he will never succeed in this hobby.

Knowing how to grade coins can also help the collector know the true value of the collection. This knowledge will be valuable if the owner decides to trade for something of greater value or it can prevent scamming and wasting money for something of little value. Be vigilant!

One of the virtues that coin collecting can teach a person is patience since the collection may take years to complete. Some of the well-renowned collectors in the world have spent many years before reaping the benefits.

Learning to think like a collector is very important. Being too eager is not good because the collector could be tempted to purchase or trade the wrong coin which could prove to be costly. Think twice about using the information given even if that came from a reliable source.

Coin collecting can be difficult especially if the person is just starting. A person, more than likely, can’t afford to buy items worth more than $10,000, so it is best to start small and study the market for three to six months so that he can be comfortable before going after bigger prizes.

Coin collecting is similar to sports - it takes time to excel at it and goals, both short and long term, have to be established. By following the rules and using common sense, the person can become one of many other successful coin collectors.

Common collection themes

A few themes are common and are often combined into a goal for a collection.

Country collections

Many collectors attempt to obtain a sample from every country which has issued a coin. In contrast to those who collect coins from all countries, many collect coins from only one country. The country selected is often their own.

Year collections

Rather than collecting one example of a type, some collectors prefer to collect by year. For example, they might collect one Lincoln cent for every year from 1909 to the present. This is probably one of the most practical ways to collect US currency. Most bookstores sell specially designed books, or coin albums, for the purpose of collecting coins by year.

Mintmark collections

Many collectors consider that different mint marks give sufficient differentiation to justify separate representation in their collection. This increases the number of examples needed to complete a collection from one per year to several per year. Some mintmarks are more rare than others. This is a great way to collect coins and to have a great time doing it.

Variety collections

As mints issues many thousands or millions of any given coin, there are generally multiple sets of dies used. Occasionally these dies will be slightly different. Generally this is in a very small detail, such as the number of leaves on the ear of corn on the recent US Wisconsin state quarter. Varieties are more common on older coins, when the coin dies were hand carved.

Type collections

Often a collection consists of an example of major design variants for a period of time in one country.

Subject collections

Collectors with an interest in a subject (e.g. ships or dogs) may collect only coins depicting that interest.

Composition collections

For some, the composition of the coin itself is interesting. For example there are several collectors of only bimetallic coins. Normally only precious metals like gold, silver, copper and platinum fit this category.

Period collections

Many collectors restrict themselves to coins issued after the 18th or 19th century, while others collect ancient and medieval coins. Coins of Roman, Byzantine, Greek, Indian, Celtic, Parthian, Merovingian, Ostrogothic, and ancient Israelite origin are amongst the more popular ancient coins collected. This theme also includes Mughal period, British Period, Republic Indian Peroid and coins issued during kingdom of various kings in India like Cholas, Maurayas, Guptas, Vijaynagars kingdoms. Specialties tend to vary greatly, but some approaches include the collection of coins minted during a particular emperor's reign or a representative coin from each emperor. Some collectors also like to collect all coins issued during the administration of a particular individual like RBI governor, finance secretory, prime minister, treasurer. For example, in India RBI governor issued new paper money with many added features while existing one also circulates. Coins are often a reflection of the events of the time in which they are produced, so coins issued during historically important periods are especially interesting to collectors and falls in this category.

Signature collections

Collectors with an interest in acquiring signatures of Finance Secretory (in India), RBI governor (in India), Chairman of Board of Commissioners of Currency (in Singapore), Gabenor (in Malaysia), treasurer (in United States and other countries) on the paper money (e.g. presently RBI governor Dr. D. Subbarao signs on all Indian Paper Money (except on Re.1), pastly Finance Secretory signs on Re. 1 Paper Money)

Series collections

Often a collection consists of an example of number series for a period of time in one country. This will be encouraged as the number would be lucky for collector or represents some mythological Symbols (e.g.786 for Muslim religion, they store that currency bearing 786 on them though they may not fall in any of the below mentioned category of "Types of Collector"). Some also interested in collecting paper money bearing a numerical series, an A.P., a G.P., an H.P., an number of identical numbers (90505050,99910299),others (1030507,987654,24680,1235813,1491625).

Printed Value collections

Often a collection consists of currency of a specific Printed Value. For example of 1 (includes 1 Indian Rupee, 1 American Dollor, 1 Singapore Dollor etc.)

Volume collections

Collectors with an interest in acquiring large volumes of a particular coins (e.g. as many pennies as they can store). These usually are not high-value coins, but the interest is in collecting a large volume of them either for the sake of the challenge, as a store of value, or in the hope that the intrinsic metal value will increase.

by :

Kids Enjoy Collecting Coins

If you think that only adults can collect certain items like coins, you're very wrong. Attention to all kids out there - you too can collect the coins that you like. Kids always want to have fun and oftentimes, they find coins anywhere. If you have any coins, try to store them somewhere safe. It's easier for kids to collect coins because they can just ask from their parents, their aunt and uncles, grandparents, and other relatives.

Parents should also encourage their kids if they see that they are interested in coin collections. If your parents don't know your interest in coin collecting, this is the perfect time to tell them. Being involved in a good hobby is something that most parents encourage and they will be more wiling to help out. So, what coins can you find in your pocket? If you don't plan to spend those coins, you can keep them already. When your grandparents and other relatives give you money, check them out instantly. Try to give attention to the coin's design. Perhaps you already have a twenty five cent coin from the Canadian Mint or even a fifty cents commemorating Queen Elizabeth's Golden Jubilee.

If you parents give you an allowance, don't spend the money in unnecessary things. Try to save some for your coin collection. If you already have a considerable amount of savings, you can ask your parents to take you to the local bank and buy some coins that you can include in your collection. You can also check out online resources and know the coolest coins in the market today that is worth collecting.

You don't need a huge collection of coins because you're still a kid. You can ask your parents to provide you with a lid jar where you can keep your coin collections. You will notice that as you grow older, you will have more collections to show your family and friends. You see, the best collectors of coins started from a few coins.

From the very start, you should already list all the coins that you put inside the jar. That way, it will be easier to monitor which you coins you have. You can use graphing paper so that you can keep track of your collections in an organized manner. If you don't know how to do this, let your parents help. Don't forget to indicate the year the coin was issued.

Once the coins are compiled, it will be easier to classify them and later on, conserve the coins. You can take all the coins issued on the same year and keep it in a separate jar. You have to keep the coins somewhere safe so that they are in good condition.

You will know a lot of famous people as you collect coins. Aside from that, you can also discover other places where the coins came from. You see, all the coins are rich in history and stories. You will also discover unique symbols and strange geographies.

Kids can start coin collections even at a very early age. With the support of parents and family members, your collection can grow to be a worthy collection; one that you can cherish even when you're already old. Don't stop collecting coins even if you're already a grown up and try to find a more appropriate storage for them.

By: Jon Simms