Coin Collecting- You Should Get Into It
I'm sure most people who love coin collecting will tell you that it's worth the time and money. Nothing can be quite so satisfying as finding that rare and expensive coin. Below is an article about someone who started coin collecting, and how it affected his life.
Most people have a hobby of collecting something or the other. Most kids of my generation collected stamps, coins, baseball cards and even books. Kids today collect action figures, Pokemon cards and hello kitty merchandise! Be that as it may, my pet passion and only hobby was coin collecting, numismatics as it is officially known.
It all began when an acquaintance of mine came back from the erstwhile East Germany and gave me a set of East German coins. I was both amused and fascinated by the aluminium pfenigs in denominations of 5, 10, 20 and 50. Not only had I never seen coins from a foreign country before, I never imagined that people could actually collect them. Nevertheless, the more I looked at them; I remained enthralled and thus began my foray into the world of coin collecting.
This ‘seed’ collection of mine led on to a healthy barter system at school, where I traded the coins I had for coins from other countries. Pretty soon my collection grew to include coins from some 40 countries. I felt wonderful. Although I had never set foot out of my home country, I felt like a globe-trotter. Even today, each time I take a look at my little coin collection, a sense of pride mixed with amazement courses through my body.
Most amateur collectors (like me) collect coins as a way to get to know more about the world around them. But coin collecting can also be a serious business. Rare, out-of-circulation coins, special, commemorative coins, coins linked to historical events and even ‘defective’ coins hold immense appeal to scores of serious collectors all over the world.
Coins like the zinc-plated steel pennies minted in 1943 for instance could be worth several dollars, even hundreds of dollars to the right collector. Silver dimes, quarters and dollars, bicentennial special-occasion coins, commemorative coins and other limited-edition coins are usually worth a lot more than their face value. A lot depends on the condition of the coin, its authenticity and whether it is a ‘proof’ coin or not. Even mis-struck coins (coins with some form of striking or minting errors) are also much in demand and can be worth a lot to serious coin collectors.
And then there are the profession coin collectors who collect, not merely for the pleasure of it, but as a form of investment. Like fine art or even wine, rare coins can be worth some serious money. These investors often prefer bullion coins (made of some precious metal) and scour auction houses and niche numismatic groups to find, barter and trade in coins. These are not grown men indulging in a nostalgic hobby. They are professional numismatists, who are serious about their investment.
Money, they say, makes the world go round. And what better way to control the world, than to hoard money – loads of it! Start coin collecting today, and discover a fascinating world that will not only give you hours of satisfaction, but will also teach you to appreciate money that much better.
Well, are you all pumped up to start coin collecting? Maybe you are already getting started, so I hope this article gave further reason to pursue you hobby. Good luck find those coins!
Most people have a hobby of collecting something or the other. Most kids of my generation collected stamps, coins, baseball cards and even books. Kids today collect action figures, Pokemon cards and hello kitty merchandise! Be that as it may, my pet passion and only hobby was coin collecting, numismatics as it is officially known.
It all began when an acquaintance of mine came back from the erstwhile East Germany and gave me a set of East German coins. I was both amused and fascinated by the aluminium pfenigs in denominations of 5, 10, 20 and 50. Not only had I never seen coins from a foreign country before, I never imagined that people could actually collect them. Nevertheless, the more I looked at them; I remained enthralled and thus began my foray into the world of coin collecting.
This ‘seed’ collection of mine led on to a healthy barter system at school, where I traded the coins I had for coins from other countries. Pretty soon my collection grew to include coins from some 40 countries. I felt wonderful. Although I had never set foot out of my home country, I felt like a globe-trotter. Even today, each time I take a look at my little coin collection, a sense of pride mixed with amazement courses through my body.
Most amateur collectors (like me) collect coins as a way to get to know more about the world around them. But coin collecting can also be a serious business. Rare, out-of-circulation coins, special, commemorative coins, coins linked to historical events and even ‘defective’ coins hold immense appeal to scores of serious collectors all over the world.
Coins like the zinc-plated steel pennies minted in 1943 for instance could be worth several dollars, even hundreds of dollars to the right collector. Silver dimes, quarters and dollars, bicentennial special-occasion coins, commemorative coins and other limited-edition coins are usually worth a lot more than their face value. A lot depends on the condition of the coin, its authenticity and whether it is a ‘proof’ coin or not. Even mis-struck coins (coins with some form of striking or minting errors) are also much in demand and can be worth a lot to serious coin collectors.
And then there are the profession coin collectors who collect, not merely for the pleasure of it, but as a form of investment. Like fine art or even wine, rare coins can be worth some serious money. These investors often prefer bullion coins (made of some precious metal) and scour auction houses and niche numismatic groups to find, barter and trade in coins. These are not grown men indulging in a nostalgic hobby. They are professional numismatists, who are serious about their investment.
Money, they say, makes the world go round. And what better way to control the world, than to hoard money – loads of it! Start coin collecting today, and discover a fascinating world that will not only give you hours of satisfaction, but will also teach you to appreciate money that much better.
Well, are you all pumped up to start coin collecting? Maybe you are already getting started, so I hope this article gave further reason to pursue you hobby. Good luck find those coins!
posted by Varus at 3:40 PM
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