Friday, July 27, 2007

An Introduction To Coin Collecting

Coin collecting has been a popular hobby around the world for many years. While hoarding coins due to their value goes back to the beginning of coinage, coin collecting as pieces of art was a later development.

Known as the "Hobby of Kings", modern coin collecting is generally believed to have begun in the fourteenth century with Italian scholar, poet and early renaissance humanist Francesco Petrarch. Many of the worlds most famous coin collections, including Petrarch’s, are known to have given their owners great pleasure.

For many, coin collecting has even become a competitive sport. Regardless of why people collect coins, there’s no doubt that coin collecting is a popular hobby for people of all ages. As a culturally enriching pastime, coin collecting offers six main pleasures, which might be described as “The Six Ls”: Looking, Landing, Leering, Learning, Luminating and Liquidating.

In coin collecting the condition of a coin is paramount to its value; a high-quality example is often worth many times as much as a poor example, although there are always exceptions to this general rule. Coin collecting encompasses many different types of coins such as currency, tokens or military challenge coins.

Another niche area of coin collecting is in the area of collecting error coins. Error coin collecting including coins that are double dies, re-punched mint marks, over dates, double strikes, off metal coins, displaced or off center coins and mules (different denominations on either side).

One of the best things about coin collecting as opposed to collecting most other things is that coins are far more often a source of profit than of expense. The coin enthusiast quickly learns to determine the differences between which coins are common and not worth much and those that appear similar but are very rare and valuable. If a coin collector is ever in a position where they need to raise cash fast they can do so by liquidating a few of the valuable coins in their collection.

If you are looking for a rewarding hobby that teaches history, culture, and the growth of civilization, then coin collecting might be for you. Don’t be afraid to start your coin collection without knowing which coins are valuable and which coins aren’t. Collecting the 50 State Quarters is easy and one of the most enjoyable ways to start your coin collection. No matter where your coin collecting hobby takes you, just remember to have fun!

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1 comment:

Matt said...

I just wanted to give you a heads up that we featured this blog post in today's edition of The Issue, the blog newspaper. We cull the best blog posts each day, and this was a great addition to our Musings section. You'll find the feature at Keep up the great work!