A Beginner's Guide to Coin Collecting
Written by: Daniel Gleich
Coin collecting, also known as numismatics, is a fun hobby that people have enjoyed for centuries. Pieces in coin collections can range from everyday currency to rare artifacts with historical significance. People collect coins for lots of reasons: Some people focus on collecting very rare and valuable coins as an investment, while others just collect coins they like for fun. No matter what type of collector you aim to be, getting started with this hobby is fairly simple.
The Basic Parts of a Coin
Understanding the parts of a coin is essential if you want to be able to learn about coins and discuss them with others. Here are a few key terms:
Edge: The outside surface of the coin, which is most commonly either flat or grooved
Field: The flat, smooth part of a coin, forming the background of its design
Head: Also called the obverse, this side of a coin features a prominent design associated with the country issuing the coin, often the image of a person.
Legend: The text on a coin that says what country minted it and what its face value is
Mint Mark: A small letter or letters on a coin to indicate where the coin was made
Relief: Part of a coin's design that's raised above the flat surface of the coin
Rim: The raised portion around the circumference of either side of a coin that helps to protect its design from wear during circulation
Tail: Also known as the reverse, this part of the coin usually features the coin's face value along with a different image or design.
Different Types of Coins
Coins come in a variety of different types, largely based on the purpose of their issue or a characteristic of their design.
Ancient Coins: Coins minted by ancient civilizations centuries ago
Brilliant Uncirculated Coins: Coins that appear to be in mint condition, having never been circulated
Bullion Coins: Coins made from precious metals such as gold, silver, platinum, or palladium that are sold to investors
Circulating Coins: Standard coins produced by a nation's mint that are used in everyday transactions
Commemorative Coins: Coins minted for a specific event or to honor a significant person
Error Coins: Coins that were not produced according to the intended specifications during the minting process
Proof Coins: Coins specially manufactured for sale to collectors rather than for general circulation
How to Start a Coin Collection
Starting a coin collection begins with deciding what the focus of your collection will be. Collectors usually choose a type of coin that they like best or find most interesting to start with.
Theme
Collecting coins with a common theme can be a fun way to start a coin collection. You might choose a particular historical figure or one type of image, like eagles, flowers, or animals, for your theme. One of the most popular themes is the Olympics: Many people seek out coins specially minted to commemorate the Olympic Games for their collections.
Historical Significance
You don't have to focus on the oldest and most expensive coins to start a history-themed coin collection. Lots of people choose a modern historical era to focus on, such as coins minted during World War II. You could also pick one year that's special to you and collect every coin you can find that was made in that year.
Denomination
Just because the face value of a collectible coin doesn't always match its market value doesn't mean that the face value is irrelevant. Some collectors focus their efforts on a particular denomination, like half-dollars or 20-cent pieces.
Country of Origin
American coins are obviously the easiest ones to start a collection with, but if you're interested in the culture of another country, you could learn more about it by collecting their coins.
What's Your Motivation for Collecting?
The motivation for collecting can vary widely between individuals. Collecting coins can start with being drawn to a specific coin's design, following in the footsteps of an older family member who collects coins, saving foreign coins from an international trip, or deciding to accumulate coins as an investment.
How to Store Coins
Storing coins properly is essential to preserve their condition and value over time. To keep coins from getting scratched or tarnished, it's common to start by storing them in a coin tray or an album. More valuable coins can also be stored individually in archival-quality coin holders.
Additional Resources
