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Common Cents Coins and Collectibles Tells How to Begin a Coin Collection in Three Steps

Common Cents Coins and Collectibles Tells How to Begin a Coin Collection in Three Steps

16 August 2018 0 comment

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Coin collecting is both a rewarding and educational hobby that people of any age or background can enjoy. Some collect coins as an investment and others do it just for the fun or for the challenges that come with collecting. Whatever your reason is for having an interest in coin collecting, you can begin today! Just follow these three steps to guide you in beginning your own personal coin collection.

1 Determine Your Specific Coin Interests

Think about your personal interest in coins and how it began. Did someone give you a special coin as a gift that sparked your interest? Did you inherit a coin or a collection from a relative which got you started? Or, are you considering collecting as an investment in addition to your other forms of personal saving and investing? Finally, perhaps you just have a nostalgic attachment to items from a particular period in history (such as World War II), from a specific year (the year you were born), or from a certain part of the world such as France or India. Coin collecting books – available online and in most coin shops – also may offer some ideas. Once you know the “why” of your coin collecting, you will be able to map out the “how” of building your collection.     

Coin collecting is both a rewarding and educational hobby.
Coin collecting is both a rewarding and educational hobby.

 2 Look for Coins to Collect

The first and easiest place to find coins to begin your collection may be right in your pocket, change purse, or piggy bank. By taking a close look at the coins or change you keep, you may notice you have some interesting pieces. For example, using a magnifying glass, you can identify the year and the minting location of any U. S. coin. Many coins as old as 75 years old may still be in circulation. As well, foreign coins – such as Canadian coins – sometimes turn up in circulation along with U. S. coins. However, in other places you can find the specific kinds of coins you are looking to collect include coin and collectible shops, coin shows, and events put on by local coin clubs. Online dealers also sell coins but beware of buying collectible coins online unless you truly know what you’re buying. Make online purchases only from reputable and qualified dealers.           

Look for coins to collect.
Look for coins to collect.

 3 Build Your Coin Collection

Once you know why you’re collecting and where to begin collecting, you will need to make some decisions about how you’re going to build your coin collection. That means making decisions about your coin collecting goal and your budget. So, ask yourself, “What are my coin collecting goals?” One example might be, “My goal is to collect a mint set from every year since I was born.” Or, “My goal is to collect Mercury head dimes from 1916 to 1945.” With your goal in mind, you are ready to begin looking for the coins you need for your collection and to begin making purchases. Start out small and build your collection gradually. Remember that each coin’s grade – or quality – is more important than building up a number of coins. As well, keep a budget in mind as you make additions to your coin collection. Excitement over acquiring a particular coin could tempt you to overspend. Some coin dealers will negotiate prices with you, so remember to collect with your goal and your budget always in mind.     

What are my coin collecting goals?
What are my coin collecting goals?

Do you still have questions about coin collecting? You can be confident in doing business with Common Cents Coins and Collectibles. Since 2001, we have maintained an unmatched level of professionalism among coin and collectible businesses. Come in today to see for yourself why our knowledge, honesty, and trustworthiness brings customers back year after year. Feel free to start a conversation with us through our website commoncentscoinscincinnati.com, or by phone at 513-576-1189.

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