Numismatics is a rewarding hobby that caters to a wide range of interests. Whether you're interested in modern US coins, ancient and medieval coinage, paper money, or tokens and medals, we comprised these five tips for you to follow to become a true coin collector.
Devote time to learn as much about numismatics as possible. The most successful coin collectors are not only interested in coins, but also in market dynamics. We strongly advise any potential collector to purchase and read as many books about coins as possible. Also, make friends with other collectors by joining groups and the coin collecting community online, and keep in touch with them. Find a trusted local coin dealer, visit coin shops and shows, and don’t be hesitant to ask questions!
Find Your Goal
It is important to start your coin collecting journey with a goal set in mind. Why did you think of collecting coins? Is it a pastime and for your entertainment or do you want to invest in it? While you’re pondering about that, it is crucial to decide on your collection type. What kinds of coins do you want to collect? Think about what piques your interest. You may really like the designs that some coins feature, the history behind them, or their silver/gold composition. Whatever it is, it’s a step worth doing before going on your coin collecting adventure.
Don’t Overthink It
Start your collecting journey simple and small. We know it is tempting to purchase high-quality and expensive coins, but our advice for you is to take it easy and learn about the hobby before making any major purchases. Many great collectors started by simply finding an interesting coin in their pocket change, or amassing coin sets that are still in circulation such as the Lincoln pennies. If you have a relatively high budget, we suggest you start with building a collection of Indian Head Pennies or United States coins.
Cherish Your Coins
Coins require a great deal of care in the way they are held and stored. Consider getting a folder at first where you can display and safely store your coins. Despite the material that coins are made of which is usually metal, they tend to be very delicate and get damaged easily. When holding coins, make sure to wear cotton or latex gloves. If not available, hold the coin by its edges using your thumb and forefinger. Above all, don't ever clean a coin! It will be obvious to coin dealers that the coin has been cleaned, and it will be classified as "damaged" which will significantly decrease its value. Practicing holding and storage techniques will ensure that these coins last for generations to come!
Steady Pace Wins The Race
Remember, coin collecting is all about patience throughout the voyage. New collectors often feel compelled to jump right in and complete their sets as soon as possible. Actually, the finest coin collections are accumulated over a long period of time. So, don’t rush yourself because you might be frustrated in the end. Slow and steady always wins!
Whether you’re passionate about coin collecting or doing it as a pastime, this hobby can be very gratifying once you get deep into it. By following the above tips that we’ve mentioned, we guarantee you will become the best coin collector out there!
At The Franklin Mint, we bring to you the rarest and most genuine coin collection, featuring ancient, modern, US coins, as well as coins from around the world. Make sure to check our diverse collection on our website.
I have a 1958 penny
I don’t really know where to start. Please note that I need advice. I recently bought several silver American eagles. They’re identical in every way. The problem is that they have the U in United without the tail (for lack of better description) which seems to be unlike any other 2020 eagle coins I’ve seen. Also, the background around the stars on the obverse is much more detailed and there is no mint mark to be found on the coins. I am wondering if I have been scammed. Any help or information would be greatly appreciated.