Beginners Guide to Coin Collecting
Coin collecting, also known as numismatics, is a fascinating hobby that has excited enthusiasts for centuries. Whether you are drawn to the historical significance of coins or the thrill of building a valuable collection, becoming a coin collector can be both rewarding and educational. If you’re a beginner looking to explore the world of coin collecting, this guide will provide you with valuable insights and tips to help you get started on your numismatic adventure.
What is the best way to start coin collecting for beginners?
Before diving into the world of coin collecting, it’s important to familiarise yourself with the fundamentals and start learning about coins. There are an incredible number of different coins available so it’s important to educate yourself before you start collecting. Our guide on the meaning behind coins will help you understand their symbolism, while our guides on keepsake coins and the rarest coins in the world will help you learn about what makes a coin so coveted by collectors and investors alike.
Once you’ve become familiar with the differences between circulation coins, commemorative coins, and bullion coins, you can start learning about coin grading and mint marks which will help you understand what you’re looking for when you start collecting.
What coins should a beginner collect?
As you start collecting coins, there are some steps you can take to help make the jump from hobbyist to collector, especially once you’ve learnt all about the fascinating world of coins. Here, we’ve listed 5 ways to start so you can begin coin collecting with ease:
Accessible and affordable coins:
As a beginner, it’s wise to start with more accessible and affordable coins when you begin building your collection. A good place to start is by collecting coins from your own country or region, especially as these are easier to purchase from local banks or specialised numismatic shops. Online resources are also a huge help and can offer insight into forums and specialist sites where you can explore coins with other collectors, however, always be cautious when purchasing online and be sure to buy from reputable sellers to avoid buying fake coins from illegitimate sellers.
As your collection grows, you might look towards sourcing rare and specialist coins if this is something that interests you. These are often extremely expensive and you can spend thousands of pounds if you are chasing a particularly rare coin.
However, you don’t need the rarest or most expensive coins to have a truly special coin collection. There are many interesting and unique coins that are available at affordable prices. Even ancient coins that are thousands of years old can be acquired for a reasonable amount of money.
Consider your interests
With the vast number of coins available, it can be overwhelming when you begin collecting, especially as you might not know what coins you should buy or choose over others. That’s why if you start collecting with a focus and consider your own personal interest, it can make selecting coins to collect easier.
For example, perhaps you are a fan of a specific denomination or have an interest in ancient coins, in which case collecting coins that reflect these interests is a good way to refine your focus. Similarly, you might want to collect coins from a certain period in history or with a specific pattern or design. By focusing on your interests and the coins that excite you, you’ll have much more success at building a collection you love.
Invest in accessories and equipment
Once you’ve started buying your coins and building your collection, it’s likely that you’ll want to have somewhere to keep them or display them. Coin holders or folders that keep your coins protected are a great option while coin display cabinets and albums are great ways to showcase your collection.
If you’re thinking about the type of equipment you need for collecting, it’s worth purchasing a magnifying glass and some gloves so you can handle the coins with care. Once you become more invested in your collecting, you can start building your equipment and accessories, however it’s a good idea to start small with the essential items first.
Keep educating yourself
The world of coin collecting is always evolving and it’s important to make sure you keep learning all you can about numismatics.
Understanding coin grading is essential in assessing a coin’s condition and determining its value. This is why it’s important to understand the grading scale, which ranges from poor (P-1) to perfect uncirculated (MS-70) so you can be sure you’re buying the right coin for your collection.
Similarly, learning how to spot wear, scratches, and other imperfections on coins will enable you to make more informed decisions when buying or trading for your collection.
Curating an impressive coin collection doesn’t happen overnight and it’s often a lifelong pursuit that requires patience, perseverance, and organisation.
Rare and valuable coins may not come your way immediately so you need to be prepared to invest your time into research, hunting for treasures, and waiting for the right opportunities to add highly coveted pieces to your collection.
As your collection grows, maintaining proper organisation becomes crucial. Develop a system for cataloguing and storing your coins so you can find them with ease and keep them in pristine condition.
So, there you have it, our 5 tips on coin collecting for beginners that will help you start your numismatic journey. Why not begin with a lucky silver sixpence to wish yourself some luck as you embark on this existing adventure of coin collecting.
Becoming a coin collector is a rewarding hobby and one that you can enjoy for a lifetime, especially with the variety of coins available. The joy of building a curated collection is unparalleled and one you should take time to enjoy, so by educating yourself and deciding on the type of collector you want to be, you can embark on an exciting journey in the world of numismatics.
Remember, every coin has a story to tell, and as a collector, you have the opportunity to preserve and appreciate these pieces of history for generations to come. Happy collecting!