The Wonderful World of Coin Collecting
The Hobby of Kings- such was what coin collecting was known during the Renaissance times. The reference was quite apt because the hobby indeed required considerable investment which can only be afforded by wealthy people. From around the 14th century when contemporary coin collecting is believed to have started up to the 18th century, the hobby remained exclusive to the well-off. The middle class started venturing into coin collecting as a leisure activity during the 19th century as one way of proving their possession of wealth and sophistication. Today, coin collecting is more known as The King of Hobbies for being one of the most enduring past-times all over the world involving people in all levels of society.
Terminologies in the World of Coin Collecting
The term coin collecting is self-explanatory and is essentially collecting coins and other minted legal tender. The study of currency including coins, paper money , tokens , and other like items is referred to as numismatics. However, the use of the term stuck more closely to the study of coins especially with the development of several sub-fields including exonumia which is the study of coin-like objects, notaphily which is the study of paper money and banknotes, and scripophily which is the study of stocks and bonds.
A numismatist may be a collector, a coin dealer or a scholar who studies coins. While collectors derive their joy from simply owning their collected coins, coin dealers are in it for a more professional reason, which is to authenticate and grade coins needed when buying or selling a collection or a single piece. Scholars view coins as a subject of study in relation to gaining knowledge about monetary devices and the systems related to their use.
Why People Start Collecting Coins
There are three main reasons why a person would want to start a coin collection. The most common reason is simply to indulge in the fun of collecting coins chosen for aesthetic reasons or historical significance. Another reason is the desire to develop a family heirloom that can be passed on to the next generation. Still another is to start a monetary investment that can possibly be cashed in for greater value in the future.
It is quite possible for a collector to be motivated by all these reasons and there is absolutely nothing wrong about that. The enjoyment, the legacy, and the potential value of having a coin collection are the very reasons for the continued popularity of coin collecting. Deciding to start a coin collection will require collectors to eventually consider a method of organizing their accumulation; learning how to clean, store,and grade coins; and finding the best places wherein to buy, sell, or trade coins.
Coin Collecting Tips
An aspiring coin collector can approach the process of collecting by sticking to a particular subject or period to avoid being overwhelmed. All countries who make their own coins regularly come out with new issues thus it might not be very practical to have a goal of collecting all coins. It is probably much easier to collect one of every coin variant/design that comes along if the goal is to collect as much as one can. Some people opt to collect hoards or a large volume of a particular coin which is not necessarily of high-value. This is because there is a possibility that the collection might eventually have a high intrinsic value by reason of its considerable number.
Collectors should be aware that there is such a thing as copy collections which are essentially counterfeit coins usually bought by collectors to complement their authentic collection. Most are produced to pay tribute to the original coins although many are made for less-than noble reasons such as fooling consumers and merchants. The world of coin collecting paves the way for learning and entertainment.
My Say
Collectors who see their collection primarily as an investment must be aware that the high value of a coin would depend on its over-all condition. Several factors will be considered by serious buyers including the absence of dents and scratches, its luster and toning, and the clearness of the details found on the coins. Joining a coin collectors’ club or society can be a highly beneficial move towards the development of a collection.
rj's mama
My sister has been collecting stamps for years already. My son has a few coins but he still need to sort it 🙂
Teresa Martinez
It’s a good start as any for a worthwhile collection in the future.
Adeline Yuboco
I remember I used to have a collection of the different coins that we used back in the day from the 1 centavo (had the two versions) all the way to the 2 peso coins. Unfortunately, it got lost with all the moving that we did before. Makes me wonder how much would those be worth today.
Teresa Martinez
That’s too bad but you can always start another collection.
jane
wow! i should try collecting money notes from over the globe! most of the times i get to excited with them as well. xx
teresay
You should especially if you regularly travel. You’ll have a wonderful collection in no time.
ralph
wow, you have all those 1 peso, those would definitely worth a lot in the future. i agree, the condition definitely will affect the value, but not if its the last one… LOL. great tips. Yahweh bless.
teresay
Actually, the coin collection belongs to my husband but I do enjoy pitching in as well especially when I encounter unique coins.
Rizza
The coins I collect are all for the taxi cab drivers and stall vendors. Ayayay…
teresay
The beauty of collecting is that you can collect anything you like. One man’s trash is another man’s treasure.
Joy Felizardo
Oh, I remember my Dad doing this…Sayang I wasn’t able to get his knack on this kind of hobby. I can’t keep money, I only know how to spend it hehehe…
teresay
We do eventually find the right hobby for us. There is no pressure to take on the hobby of another although you can consider giving or selling it to serious collectors.
Ron Leyba
Coin collecting is not my thing. But I appreciate different kind of coins from all nations.
teresay
Appreciation is good. Collecting is not really for everybody.
ana karen
i remember i had a few passed on by my mom. the value is now different, i just wonder if i can still find them…
teresay
Their value tends to increase in time as they become scarcer although this should not be the only reason for collecting.
Pal Raine
My great grandmother has a various coin collection. When she died, my mother and my aunt (my mom’s sister) keep the coins and turn the coins into jewelries.
teresay
Talking about reinventing one item into another.
Les-Joey
You have a very nice coin collection. My MIL have some old coins with her, I guess it will be better if we should properly store it so that our kids will get to appreciate and learn how “old” coins look like.
teresay
Proper storage of collection is necessary to ensure that descendants will have the chance to appreciate them
Dems
I remember in high school, one of our projects involved old coins. I have gotten my share from my aunt and uncle. Sadly our teacher didn’t give the project back properly and our group didn’t get ours. Sayang :/
teresay
Such a pity that you can no longer see your coin project. Why not start one now?
Mai Flores
Were you able to see the movie “Dear John”? The main actor’s father was a coin collector there. He really knew his coins and was able to take on the differences on each material. You should watch it if you still haven’t. His coin collecting played a significant role in the story. 🙂
teresay
I should see this movie just to look for possible parallelisms.
Franc Ramon
I have a mini coin collection at home and I just inherited most of the coins. I must check on that and resume the collection.
teresay
You should, you might just discover a real treasure waiting for your rediscovery of coin collecting.
Gemma|My Dailies
I think I started coin collecting before.. but I think I didn’t store it properly.. and not sure where they are now!
I guess, I’ll start again!
teresay
There is nothing to stop us from starting all over again and enjoy the thrill once again.
leira pagaspas
i’m interested in coin collection too.. thanks for sharing your thoughts on this matter..
teresay
Collection is a very enjoyable topic for me because it is something my husband and I love to do.
Tess
My hubby is a coin collector. he got all the books, and everything to get updated and to protect his coins .this is not only a collection but an investment as well.
teresay
Nothing can be too much for a serious collector. Every collection is a treasure to its owner.
proud eco-mom
i love collecting coins too, i have several collection of old Philippine coins but what i love most is collecting postcards from all over the world. My growing collection is now more than 500 cards and over 50 countries. I do hope it grows more.
teresay
I hope to write a post about postcard collecting in the very near future as I also have some in my collection although it is not as extensive as yours.
Jeffrey Velasquez
Im slowly starting on collecting old coins. Nice!
teresay
Good luck to your collection and enjoy!