Coin collecting, or numismatics, by definition, is the study or collection of coins, paper currency, and medals.

 

Why collect:

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There are several reasons why someone may wish to collect coins. Many people tend to keep coins they had obtained in their travels to other countries. They are objects of intrigue and fascination. Some people enjoy the historic value coins can offer, while others enjoy the artistic value; many enjoy both aspects. Numismatists often see their collection appreciate in value over time, so it becomes an enjoyable and intelligent method of developing physical assets with a high degree of liquidity.

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Price:

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Coin collecting is a hobby that is accommodating of all price brackets. You do not need to spend hundreds or thousands of dollars to collect coins. Circulated common-date Wheat Cents and Buffalo Nickels can easily be found under a dollar. Circulated common-date silver dimes, quarters, and half-dollars can easily be found slightly above the melt value of the silver they contain. Mixed lots of foreign coins from around the world can be bought in bulk by the pound and are a great way to familiarize yourself with many countries. If you wish not to spend any money at all, you can look through your own change and assemble a modern collection e.g. Lincoln Memorial Cents 1959 to 2008. Alternatively, State Quarters are also a popular set people attempt to build with their own change.

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Where to buy:

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While much of coin collecting has moved to e-commerce, many locations still have coin & bullion dealers. If you are new to collecting, I would highly advise that you seek out a dealer that has a legitimate interest in discussing the hobby. This serves as a good litmus test for the quality of the dealership. Online, eBay is a solid option as there are tens of thousands of listings for a plethora of different coins so you will almost certainly find what you are looking for. Participating in eBay auctions can be a rewarding experience as well.

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What to buy:

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There are many ways to collect coins. Many collectors enjoy collecting within a particular theme. Try to build your collection around a theme you find interesting while staying within the confines of your budget.

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Some examples popular themes include:

• A range of dates from a particular type of coin e.g. Buffalo Nickels from 1913 to 1938

• A type-set, one of each type of coin from a particular country

• A specialization in a certain denomination e.g. U.S. Quarters

• Coins from a specific time period e.g. U.S. Civil War era

• Coins from a specific country e.g. France or China

• Coins featuring a particular fauna e.g. fish or birds

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Ultimately, collect whatever you find interesting. There isn't a need to specialize.

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Clubs & shows:

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Clubs and shows also present great opportunities, not only to buy, but also to socialize with large groups of people sharing an interest in numismatics. A simple Google search of "coin clubs near me" should yield positive results, browse through them and see which ones appeal to you.