How To Start Your Own Coin Collection

by marciag

If you want to learn how to start your own coin collection, there are a few basics you need to know and supplies you need to get. This will save you money in the long run as well

Coin Collecting Basics

Numismatics is a fun hobby for young, adult and the older

Coin collecting means different things to different people. For some, it's a way of getting lots of shiny coins of all sizes, origins and materials. For others, it's a way of learning about investing and financial matters overall. For others, it's just a fun hobby to have. And there are those people who are collectors at heart. They collect coins simply for the sake of the collection itself.

Starting A Coin Collection - What You Need

When you're starting a new coin collection, there are several things you need to know. First you need to know about the coins themselves.

For example it's best to start with pennies, working up your way from there. You need to learn about the different types of pennies, from the most common to the rarest ones. One of my friends started with the new 50 STate Commemorative Quarters because every year there are 5 new states added along with the various mint marks.

One of the best ways to go about learning more on coins is to also build up your coin collection books on your bookshelf. There are many reference books (such as the Red Book, the MUST HAVE book on coin collecting. Then there are informational guides that take you step by step on learning how to start with numismatics.

One of the best example here is the Dummies book. Don't laugh (or scoff) at the name because I have this very book and it's really good for getting off the ground with the hobby.

What you also need is some basic numismatic supplies. There is a minimum of things you need for starters, such as a few coin tubes and storage boxes, coin magnifiers for checking and inspecting your new coins, along with some coin holders and albums.

If you're really eager to start out and don't want to wait until your your collection is big enough coin by coin, you can easily start with coin collecting starter kits. These have everything you need to get off the ground right away and dwelve right in with both hands. Nothing beats motivation than instant gratification these days.

Coin Collecting Supplies And Books

COIN STORAGE TUBES, round clear plastic w/ screw on tops for HALF DOLLARS (Quantity of 10 tubes)

Clear plastic, round coin storage tubes with screw on tops. These tubes are specifically designed for storing loose coins, but can also be used to hold other small items such ...

$5.00  $1.79
100 2x2 Cardboard Coin Holders CENTS

100 economy coin holders.

$6.99  $1.95
50 State Quarter Coin Collection Box Round Tube USA

This case is the most organized way to collect, separate and roll your 50 State Quarters. When the tubes are full it is a cinch to roll your coins. The case measures 12 X 7 X ...

2012 Guide Book of United States Coins: Red Book

The Official Red Book, now in its 65th year, is famous nationwide as the premiere resource for U.S. coin collectors. This best-selling one-volume library helps you make smart ...

$16.95  $6.42
Coin Collecting For Dummies

Can’t make heads or tails out of coin collecting? You need Coin Collecting For Dummies, 2nd Edition, the treasure trove on information on numismatics. This hands-on guide ...

$21.99  $8.54
ANA Grading Standards for United States Coins: American Numismatic Association (Official ...

Learn how to grade your U.S. coins quickly and accurately. Beginners, advanced collectors, and dealers will all find the text understandable and invaluable for grading coins. ...

$16.95  $9.99

Using Coin Collecting Software

While I personally don't subscribe to this idea, some people found it useful to use coin collecting software to make their lives easier from the start. You can find several software right off the shelf with all the features you will need, some cost a bit, others cost more, and others are free.

So before you invest in any software, check out the free ones to see whether they fit the bill for your needs. Professional software will start from $100 and they're used for serious numismatists and organizations. For starters though, a simple freeware is more than enough for you.

For the average coin collector, if you're looking for some professional software that doesn't cost you an arm and a leg, the CoinManage software is the one mostly recommended (check it out below).

Getting Your First Coins

Everything mentioned above is useful, but they won't take you far unless you have your own coins. Afterall that's why this hobby is called 'coin collecting'. So where do you go and find your coins to get started? Like I said before, you can sart off with a ready kit so that you have an initial number of coins to put in your albums or boxes.

At some point you might want to specialize. For example you might want to start collecting only Franklin Half Dollars. The only problem with specialization early on is that you might find it hard after a while to find only those types of coins. So be a generalist at the beginning, and begin specializing once you have several thousand coins under your belt.

When you buy coins, make sure that they are high grade coins without going overboard. Higher grade coins are worth more, but they're pricier. Just keep in mind to improve your collection of coins as time goes by.

One last tip: Before going off buying lots of coins, study some of the popular books on numismatics. This will enable you to easier find the good coins and ignore the bad right from the start.

Do You Have Your Own Coin Collection?

Updated: 12/30/2011, marciag
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BrendaReeves on 02/19/2012

I have a coin collection left to me by my grandmother. One of the coins is from the 1800's, but it's so worn that you have to get a magnifying glass to see the date on it.

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