Everyone needs hobbies, right? Not only is a hobby something that can spark joy, but sometimes it can also be a worthwhile investment. Sure, you might be able to turn your hobby of knitting into a successful Etsy store, but there are other hobbies that can not only bring real happiness to your life but can also lead to serious financial gain. We’re talking about collecting gold and silver coins.
Whether you’re a young person who inherited a coin collection from a family member or just someone who has always been fascinated by coins and is looking for a way to turn that into a real hobby, there’s a place for you in the world of coin collecting.
Why Collect Coins?
Collecting coins has been a hobby amongst folks for hundreds of years. What started as a way for people to collect the bullion value of precious metals has morphed into a hobby that looks at artistic beauty and rarity.
There are many different reasons why someone first enters the world of gold and silver coin collecting. As mentioned above, perhaps you were gifted a few unique and interesting coins from someone, and that brought you a bit of happiness. Maybe you have always enjoyed building collections and are looking for your newest adventure. Or you could be looking at a way to combine your interest in investment with a fun new hobby.
Ultimately, the reason for beginning a coin collection should be about joy.
How to Start a Collection?
To start coin collecting is as easy as looking at the coins you have now to see if there is anything unique that stands out. If so, then you have already begun your journey.
There are some practical things you might need once you begin your collection. It’s likely you’ll want to invest in some collector albums, which is a quick way to organize and protect your coins. Eventually, you could get into grading. Coin grading is the process of an independent third party looking at a particular coin and assigning a numerical grade to it to denote its condition. Excessive wear and tear, obvious damage, and harsh cleaning are all factors that come into play when a coin is being graded.
One great way to really dive into the world of coin collecting is to join collecting groups on social media. While there, you can take a look at collections from other coin collectors, ask questions about the value of a coin in your collection, or just ask questions about the hobby in general. There will be people who, like you, are new to the journey, and there will likely be those who have been collecting for decades. Social media groups can be a wealth of information.
What Type of Collection Do You Want to Build?
At the end of the day, it really is important to ask yourself one question: what type of collection do you want to build? There are plenty of different paths you can take when deciding what type of coin collector you want to be.
Some people are interested in a specific theme of coins to collect. Mints from all around the world will often release a series of coins that follow a particular style or theme. This means people who want to collect these have a clear goal in mind. However, the best part of theme collecting is that it can (and will) change over time. Once you complete a collection of a specific theme, you can then hop onto another theme that interests you. And so on.
Others enjoy hunting down rare items. With billions of coins making their way through the minting process, there are bound to be irregularities and errors. Finding coins that contain errors is a common goal for many collectors. In addition to errors, there are other ways to increase a coin’s rarity. Limited runs are common, meaning the mint will only make a certain number of a specific coin.
If you want to grow a coin collection that could greatly increase in value over time, there is also the hobby of collecting precious metal coins, such as American Eagle gold coins. These coins are often more expensive, as they are beloved for their metal purity. However, when you purchase these coins, you can largely expect them to gain significant value. Not only that, these coins are often incredibly beautiful and show real artistry. While there are many different ways to invest money, coin collecting might be one of the more fun.
Collecting Coins is a True Passion
At the end of the day, people who collect coins should be involved for the passion and joy it brings. From the hunting of specific items to the excitement of watching your investment gain value, there are many different ways to enjoy this hobby. You just have to take the first step.
