Coin Collecting - A Beginners Guide to Finding, Valuing and Profiting from Coins: The Collector Series, #1

By Tim Harvey

Coin collecting is an enjoyable hobby and when it is done properly, it can be profitable as well. This book can be your guide to assist you in getting your coin collection started and in making the most out of it.

You will discover many factors about coin collecting, such as the history, where to purchase them and even how to profit from them.

Coin collecting is a hobby that has been enjoyed by millions of people around the world. By introducing yourself or your family to coin collecting, you are taking part in a time-honored tradition that will captivate your attention and even put some money in your pocket!

• Language: English
• Publisher: Shaharm Publications
• Release date: Oct 12, 2016
• ISBN: 9781536535976

Tim Harvey

Tim Harvey has always had a passion for collecting. Since his childhood days as an enthusiastic stamp collector to buying and selling rare coins in his adult life, Tim understands the fun and passion involved in being a collector. His writing style clearly shows a love for the topics he is writing about and his books are full of insider tips from an author that has walked the walk when it comes to being a collector. Whether it's rock collecting, fossil collecting, sports cards and more, Tim will share not only his passion for these topics, but also his knowledge of how to get a great collection whilst having the most fun you can!

Book preview

Introduction

A coin collecting hobby is the practice of collecting or trading old or legally minted coins.  Most collectible coins have been in circulation for a short time, for example, historically interesting coins or error coins.  Although the term ‘numismatics’ refers to the study of currency, it is closely related to coin collecting.

A coin collector is a person who mainly collects coins as a hobby or for investment purposes.  Coin collectors are also known as numismatists which term, in a technical sense, refers to a person who not only collects but also studies coins and other currencies such as paper money, as well as tokens and medallions.  Therefore, a numismatist may be a hobbyist, a serious collector, a dealer, or a scholar who studies coins as part of a sociology or history project for example.

During the medieval ages, coin collecting was confined to the nobility, such as popes and kings, as well as royal family members, as they were the only people who could afford to collect coins.  According to coin collecting history, the first known collector of coins was the Roman Emperor, Caesar Augustus, who was fond of collecting foreign and old coins which he gifted to visitors and friends during festivities and special occasions.

Coin collecting has found its way into modern society and today almost anyone can become a numismatist.  Coin collecting has generated an active numismatic market and, as interest has grown, coin collector’s organizations and clubs have sprung up to satisfy the ever growing demand for this interesting pursuit.

Coin collectors can be categorized, broadly, into five different types of collectors:

1. Coin Collectors

Most coin collectors collect coins as a hobby and, even though they are aware of the potential value of their collection, making a profit is not a top priority. They are more interested in the historical significance, artistic appeal, and sentimental value of coins.

2. Coin Investors

In contrast to coin collectors, investors are more interested in the financial gain that their hobby can generate.  They are keenly aware of coin market trends and will purchase, trade and sell coins accordingly.  The historical significance and other trademarks of coins matter only in that they may increase the value of the coins.

3. Commercial Coin Buyers

Above everything else, commercial coin collectors are concerned with the melt value and bullion value of coins.  Their main purpose is to collect and sell bullion coins, such as gold and silver coins, for commercial use.  These coins are melted for use as components in products such as jewelry and other commercial products.

4. Coin Inheritors

Persons who possess coins that they have inherited from numismatist relatives, ancestors or friends may choose to grow their collection and become numismatists themselves, or they may decide to keep the coins as an heirloom to pass on to their children.  Inherited collections are sometimes donated to coin museums.

5. Coin hoarders

The coin hoarder’s involvement in coin collecting is distinctly defined by the opportunity to haphazardly collect and possess large numbers of unsorted coins.  A hoarder seldom has any interest in the historic value of coins or the potential for financial gain.

In this guide