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.

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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.

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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

Kids And Coin Collecting

Starting a coin collection especially for your children can be fun and exciting. More than that, it can be profitable too. A lot of parents start a gallery of their coin collection for the sake of their children and the generation after. It is quite a thrill to fancy old coins and show your kids how the mode of currency looks like, way back.

Collecting coins can also be a sort of investment because sometimes, coins that were inherited or passed on from generation to generation are more valuable than a hundred dollar bill. Now, collecting coins can be cool but there are a couple of pointers that you have to take note of like:

• Determine the amount of money that you are willing to spend for the sake of buying old coins. Remember, a coin collection is not just a collection of old pennies but an array of very, very, very old currency used even during ancient times which means, they are quite expensive and relatively centuries old.

• What is your goal in collecting coins? For gifts? Investment? Hobby? You have to decide whether or not this collection will go on for years or it will stop at some point in your child's life.

Collection Budget

For the sake of discussion, we'll tackle about starting on a very tiny budget, much like 50-100 dollars a year. With this kind of budget, you could buy several kinds of coins namely the Mint sets which would not be more than $100. Fancy Silver Proof costs about $40 same as with Uncirculated set which would just amount at $25. You can go through the Internet and search for probable coin prices which are not that expensive and would definitely reach your budget.

Child Motivation

Encouraging your child to see coin collecting as a hobby is thin, but very much possible. All you have to do is motivate them to like coin collecting by making them realize the importance and benefit they can get from it. There are several coin types that your child can appreciate namely Buffalo and Jefferson Nickels, Mercury Dimes, Wheat Cents, Roosevelt Dimes and Indian Head Pennies. Start with these and then show it your child. Sit down with him and tell short stories about the coins. This will somehow build a certain kind of interest in him.

Safe Coin Collection

However you decide your coin collection may be - heirloom or investment reasons, or just for fun, make sure that it is safe, both for you and your child. If you're planning to stash your heirloom and investment coins at home, bad idea. You just gave yourself a pretty good reason to be robbed. Best thing to do is get a safety deposit box and keep them safe in a place where you only know or if you really treasure your coins, put it in the bank. If your kids are actively collecting coins, make sure that it is kept in a safe place where visitors or strangers will see. If your child shows no more interest in his collection, just deposit his coin album in your bank. Never leave it hanging on a drawer because burglars will definitely take it for they are very easy to sell. Always teach your child the importance of his coin collections and tell him to keep the folders out of sight especially when people are around.

By: Jon Simms

Get Started With Coin Collecting: A Fun & Educational Hobby

Coin collecting has grown to be a great hobby over the years for everyone regardless of their age. Many coin collectors started off their collection of coins when they were young and now have large numbers of them. In this article I will explain why coin collecting has become a good hobby and how you can get yourself started with it.

Why Is It So Popular
There are many reasons to collect coins. One of the reasons is because of the coins value; this could be the historical value, metal value or perceived value. Another reason people collect coins is because of the pleasure received from it. Collecting coins from any country and inspecting them can give people a sense of pleasure and some people pay thousands for a single coin that could complete their collection.

How To Get Started
Firstly you want to find someone who already has started their coin collection. If you can’t find anyone then join a group there are a lot out there (if this is still undoable then find a book or ebook). The reason for doing this is because you want to be able to learn some basics of coin collecting and with that basic knowledge you can learn how to find a good coin dealer to start of your coin collection.

Once you have some coins the next thing you want to do is investigate them. To do this you get a magnifying glass (a larger one) and look at your coin in a bright area. When examining the coin you are looking for things like errors, dates, markings and more. By examining the coin you will learn there value of it and you can consider selling it to a coin dealer or keeping it for your collection. Within time and training you will find it easier to investigate coins and sometimes without the magnifying glass.
Finally the last thing you need to do is get storage for your coins. This can come in the form of a folder where you can put a specific type of coins and if you have duplicates you can buy a tube to store them in or you can make a bit of money by selling them.

There you have it, three easy steps to start your own coin collection. Whether you are doing it for fun or profit coin collecting is a great thing to do and if you get into it you can buy magazines that will contain information and tips on coin collecting and you may find some useful.

By: James Pswarai

Monday, May 25, 2009

How To Create Your Own Coin Collecting Kit

You can't say that collecting coins is only about coin-keeping. Numismatists or people enthusiastic about coins will tell you that it is much more -- a rather methodical and to some extent a complex hobby. You should follow some specific guidelines to make sure that you carry on this hobby with a disciplined approach while having fun and making money at the same time.

Below is the list of some necessary things that should be a part and parcel of your coin collecting activity.

1. Using guide books on coins

Both beginners and professional collectors of coins should use guide-books on coins.

Coin guides give tips on how to start, as well as special instructions on how to proceed with the hobby of coin collecting.

These books not only give start-up tips but also provide information regarding the procedure to walk the road of this hobby of coin-collection.

As coins differ in respect of their price, grade etc., these books also come handy by giving necessary information related to the same.

Reading these guide-books is strongly suggested before starting the hobby of coin-collection as it would be a safeguard against taking wrong decisions due to non-availability of proper information.

2. Record of the stock of coins

Proper stock-records for all the items that you have collected must be kept. Facts such as grade, year, cost, face value, remarks and trend should always be obtainable in case they are needed.

Stock records aid a lot in proper organization of the collection of coins. If any collector gives a brief look to these records, it can help by showing which coins have become useless or are required no more.

For keeping a record of information related to coins, numismatists have some alternatives as regards the method to be followed. They may utilize either the long established procedure of using paper and pen or use the software specifically prepared for coin-collection.

3. Coin Box

Coins should be kept in properly protected holders and boxes so that they don't get damaged.

Some chemical reactions often occur between the metals of which the coins are made and sulphur or PVC. So paper (in which sulphur is present) or plastic (consisting of PVC) shouldn't be used for coin-storage on a long-term basis.

4. Gel of Silica

For preserving the coins properly, packets of silica gel should be used as it helps to maintain correct temperature and low level of humidity in the atmosphere.

5. Glasses that magnify

To rank the coins, magnifying glasses offer a big helping hand. Though 7x magnification is the most recommended one by numismatists, but even magnification in the range of 4x to 10x will complete the job pretty well.

For examining the degree of excellence and the genuineness of coins, a magnifying glass is of great help. Defects which can't be seen by the naked eye like scratches or even hairlines can be brought to notice by magnifying glass. This is a good thing as such defects affect the coin-value in a negative way.

6. Light Source

A source of light should be kept at a distance of half a meter from the workstation. A 75-watt lamp that's incandescent or a halogen lamp is suggested for this purpose.

7. Tools for handling

The quality of the coins gets diminished by the marks of finger. So, coin-collectors who are serious about their hobby use gloves meant for surgical purposes and pads made of velvet for coin-handling.

Finally, the preliminary kit of coin-handling is ready. So, have a great time following your hobby!

by: Mohammed Shomam

Coin Collecting: Attention Kids: Three Steps To Starting A Coin Collection…

(NC)-First of all, look around for coins - any coins - and put them in a safe place. A good spot to find the first coins for your collection is right in your pocket. You might find some of the 25-cent coins that the Royal Canadian Mint made for the Millennium. Or the special 50-cent coin commemorating the Golden Jubilee of Queen Elizabeth II. Maybe your parents or grandparents have some loose change they could spare to help you start.

Here's another idea: Take your allowance to the bank and buy a roll of coins, then keep the ones you need for your collection. Or check out the newest and coolest coins at the Mint's website ( and start your collection with some 'Royally Cool Money.'
Whatever you decide, make sure to keep your coins in a safe place - like in a small jar with a lid or ask your Mom or Dad to hold onto them for you. And always remember, some of the biggest and best coin collectors in Canada started with just a few pennies!

Next - find out what coins you have and make a list. The experts call this part "compilation." To make sense of your cents take out a sheet of paper - graph paper is best. On one side make a list of years. Start anywhere you want - 1900 or 1967 or maybe the year Grandpa or Grandma was born. It's up to you. Then check the dates on your coins and check off those years on the sheet of paper. This may not sound like heaps of fun, but you'd be surprised. You just might find a coin that's really old or has some special mark on it that makes it worth a lot more than you thought!
Once you've compiled, its time to classify and conserve your coins. This means putting the same kind of coins together - like, for example, coins from the same year. Conservation refers to taking care of your collection.
These three simple steps are your ticket to a wide new world of fascinating people and places. Think of it as your own personal Canadian treasure, rich with stories about the incredible history, spectacular geography and unique symbols that make Canada a special place in which to live.

- by : News Canada

Friday, May 22, 2009

Accessories for Coin Collection

When collecting coins, one thing to consider is how to arrange and take care of the coins. Coins that are collected may be antique, ancient, or limited editions coins. These coins come from many countries and are usually high in value. A collector must know how to keep and take care of them so that they will retain the same appearance and value.

One way to take care of coins is to purchase s selection of coin accessories. Not only are coin accessories used to make a coin collection presentable and organized; but the primary purpose of coin accessories is to take care and preserve the coins.

When buying coin accessories it is important to choose those accessories that will best satisfy the needs of the collector. Some factors that may be considered are durability, price and usefulness.

Many coin accessories can be found in collectible stores and even online. Here are some coin accessories that may be considered:

Coin Boxes

Coin boxes are the most common sought for coin accessories as they are very convenient to coin collectors and specialists. The compartments of the box provide for easy location of the coins. The compartments are also wide, which provides flexibility in placing the coins. The wide compartments also allow the collector to handle the coins the proper way.

Coin Albums

Coin albums are similar to any typical album with the difference being that the coin album is especially designed to hold coins. A coin album has a transparent layer that aids in the protection of the coins. The collector does not need to handle the coins one by one. All he has to do is turn the pages and the coins are all there protected from improper handling.

Coin Holders

Coin holders are best for those collectors who collect coins during their travels. They allow portability of the coin collection. In addition, the collector does not need to carry his entire collection. He can simply place a single coin in the coin holder. Coin holders provide safety for the coins and prevent a coin from the many elements that may depreciate its value.

Other coin accessories can be found in the market. Determine the primary purpose of the accessory and if it can satisfy your needs. Prices will differ depending on the durability of the accessory. Research the many coin accessories that are sold and compare prices before choosing one.

Starting a Coin Collection for Kids

The best time to mould a child (kid) is when he/she is still young. By getting the curious minds involved in something educational, there is a very good chance that they will become responsible adults.

Some parents can start by teaching how to cook or baking at a young age. If the child enjoys and does well with it, then perhaps in the future, this person could become a chef. Giving a child a hobby can also teach that child how to stay focused or to pay particular attention to a certain subject. A good example of this is starting a coin collection.

For most adults coins are just petty cash. They are used to buy a newspaper or used to pay for a ride on the subway etc. For children, coins are more than that. Some children save the coins placed in their piggy bank to make a special purchase or save them to use for their college tuition.

To start a coin collection the parent and child can start by opening the piggy bank and examining the coins together. Coins were manufactured during different years and each has its own history. By explaining the significance of each, the child’s interest will grow and this in turn will encourage growth of the coin collection.

Both the parent and child could get lucky if they should find that a coin has missing letters or numbers or a misprint is seen on the coin. Since such things don’t happen often, the value of the coin is much higher than the original face value.

Coins can that are to be part of a collection should be kept inside a small box separated from the coins used for savings. When this collection has grown larger, then it is time to buy a plastic folder in which to store the coins. There are two kinds or folders currently on the market: the first can hold the coins individually and the other is a sheet which can hold a number of coins per page.

By using folders the child and take the collection to school for “show and tell” and would improve the child’s self-confidence in achieving something on his own - without the help of the parents.

Coins can teach the child about saving for a special purchase or project and encourage the child to work hard to achieve that goal without always asking for money from mom or dad.

Coin collecting started in the early years will pay off later in life by teaching responsibility.

Thursday, May 21, 2009

Coin Collecting as a Hobby

Most people engage in different activities that they consider hobbies. When people consider a particular activity as a hobby, it means that people find that activity pleasurable in that they enjoy collecting different kinds of coins.

In this context, it does not necessarily follow that the coin collector will focus more on the monetary value of the coins. When the focus of coin collecting delves more into the monetary value of the coins than the gratification the collector obtains, it is no longer deemed a hobby but an investment.

History tells us that the main reason other generations collected coins was the value that coins would someday attain. The ancient form of coin collecting was even labeled a hobby “fit for the kings” because ancient coins were so valuable that only the kings were capable of collecting them.

Today’s coin collection is no longer limited to the “kings” or the affluent. Anyone can now consider coin collecting as his or her hobby. The popularity of coin collecting continues to flourish as more and more people collect coins. That is why it is now known as the “King of Hobbies”.

Why Such Popularity

One of the many reasons coin collecting is considered by many as one of the most popular hobbies in the world is based on its ease of access.

When somebody wants to start coin collecting, he can start any time, anywhere. Some people start coin collecting with the coins that they have in their pockets. This phase of coin collecting is known as the “accumulator” stage, where collectors try to accumulate as many coins as they can often using their “pocket change”.

After the collector gets the “hang of” accumulating coins, the hobby becomes more expensive. This is because true hobbyists are willing to pay the price as long as a particular coin will enhance their collection and will beauty to their “masterpiece”. And the rest, as they say, is history.

Coin collecting as hobby is a pleasurable activity that any person can use to create a feeling of gratification..