A Beginner's Guide To Getting Into Coin Collecting

22 November 2021
 Categories: Finance & Money, Blog


If you love history, culture, and the thrill of the hunt, it really doesn't get better than starting a coin collection. This hobby provides fulfillment and value and is something you can do for the rest of your life. Before starting, it's important that you learn a bit more about collecting, in addition to finding a coin shop that can help you out. Keep reading to learn how to start this hobby on the right note. 

#1: Learn Why Coin Collecting Is a Rewarding Passion to Dive Into

First, understand that coin collecting is not just a hobby – it's big business. Around the world, coin collecting generates $17.59 billion in revenue each year. When you collect coins, you're essentially building a financial portfolio. Your coins continuously increase in value once they go out of print or circulation. It's an investment that can help secure your financial future and gives you assets that you can pass down to your children. 

Coins are historical artifacts that act as a timestamp for civilizations. They leave clues about the people and ruling governments throughout eras of history. Coins require you to study history and will expand your knowledge and understanding of the world. This hobby challenges your mind, which can preserve your cognitive health as you age. There are several avid coin collectors you can combine notes with, making it a worthwhile social activity.

#2: Figure Out What Types of Coins You’d Like to Begin Collecting

Next, start exploring the types of coins that you'd like to collect. There are specialized quarters for all 50 states that you can collect. You might also seek to collect Susan B. Anthony coins, Sacagawea commemorative coins, silver half dollars, bicentennial quarters, and several others. Other types of coins you might choose to collect include the Morgan Dollar, gold Maple Leaf coins, and Buffalo nickels. Figure out what you love about coins, which hold the most value, and what type of wares you'd most like to show off. 

#3: Search for a Coin Shop That Can Advise You and Sell You the Coins and Products That You Need

Take the time to research some coin shops in your area that can help you make purchases or trades. Choose shops that constantly get new inventory, and that have fair prices for each offering. These shops can also set you up with up-to-date coin price guides, in addition to equipment that helps you store and display your favorite pieces. Consult with the shop for advice on how to clean and care for your prized coins so that they retain their condition. 

Use these three tips to get your coin collection started today. For more information, visit a local coin shop.