Coin collecting is a huge hobby around the world. The term for coin collecting or studying coins is numismatics. If you are an expert in coins then you are a numismatist.
There are a broad range of collectors out there from people collecting interesting commemorative coins out of their everyday change, collectors buying issues directly from various mint's around the world as collector pieces to the hardened collector searching for the finest known example of a particular issue. There are also those who collect as precious metal investment but the majority of these collectors are not collecting for the numismatic value of the coin just the intrinsic value watching as precious metal prices rise and fall hoping to make a dollar.
What you choose to collect is totally up to you. It's what appeals to you and the enjoyment you get out of it. There is a major difference in collecting for fun and collecting for investment.
Collecting for fun:
This suits all collectors from a small budget up to big bucks. Just keeping coins from your change doesn't take a lot of investment because in the end you can just spend your collection for face value and you haven't lost anything. This is particularly popular with beginner collectors or kids coin collecting. Keeping coins that appeal to you from your change or going to the bank and withdrawing some coins to go through can be very rewarding. Choosing to collect particular types of coins or denominations can also be exciting with the thrill of tracking down that elusive hard to get coin.
Collecting for investment:
This can really be hit or miss depending on what you choose to collect. Some issues skyrocket in price from their release and if you don't get in quick then you miss out. It's often impossible to pick when these will occur. Pre-decimal coins if stored correctly and in higher grade or the scarcer years or varieties will always appreciate in value. Decimal issues of lower mintage and higher grade are always sought after. Coins with military themes have almost always proved popular. Then there's the issues that you thought would do well but have totally flopped such as the lifesaver PNC after the Ashes PNC scrum. In general, circulation type of currency (not nclt) low mintage in high grades are the ones to look out for and keep for the future.
Posted by harrisk at April 24, 2009 5:10 PM
Subscribe to our Newsletter
