Hobbies like stamp collection, match box collection, or coin collection can give a heartful delight. Either passion or favorite pass-time the collection can keep you involved, Coin collections for instance, are pursued as a part of interest or investment. But, you may get perplexed with thoughts like why coin collection, what value it carries and how to start. But ensure you would be a fun filled exposure if you pursue coin collection. As you deal with coins, you learn more about them. Their age, culture, tradition, collectively anthropology part of coin becomes known to you. Older the coin, the more value it will add in price. Not every coin collector stock coins for investment purposes, They can be used as a perfect gift item for younger generations. Now, you may be convinced why you should build a coin collection hobby.
First Step to Begin with Coin Collection “Mint Lingo”
Linguistics is a very important subject to understand the objective of any action by a foreigner. Further, Terminology is equally important to business management. Hence, to begin you should get aware of the terms used in the coin collection world.
- Commercially used coins or those circulated among common people is termed as “Circulating Coin”
- Those coins which are customized in mint in honour of a person, issue, place or a special event is termed as “Commemorative Coin”
- The nominal value inscribed on the face of the coin is termed as “Face Value”
- Coins that are antique have “Intrinsic Value”.. It refers to the coin’s actual value, plus antique value, historical value, mint date, scarcity, etc, as on today.
- The coins are produced at industrial facilities known as “mint”. The Royal Canadian Mint for example
- The process of preparing coins of same attire is termed “mintage”
- The term”minting” is used for the coin production
- The collection or study of coins or paper money is termed as “Numismatic”
- A collector or student who collects coin or paper money are termed “Numismatist”
- The coins those are manufactured with utmost precision are called “Proof Coins”
- If the coins have not been circulated but with excellent finishing is termed as “Uncirculated Coin”
The Coin’s Anatomy Terms in Coin Collection
- The front side of the coin, which depicts national emblem or head of an eminent person also known as “head” while tossing is termed as “Observe”
- Tail side of the coin is called “Reverse”
- You will find a raised or three dimensional surface at coins edge known as “Relief”
- The flat background on which you find the relief engraved is termed as field
- The raised edge that can be found along periphery of the coin is termed “Rim”
- The outer border may be edged or serrated is termed as “Edge”
Step Two Get Coins For Coin Collection
The coins you would collect must be significant for you. There are two possible methods to gather coins, one that attracts you emotionally or those suggested i.e. biased. The coins can be expensive to a collector not only because of the intrinsic value. Moreover, because of the materials. Pricy materials like gold and silver may have been used to make.
Investing on Coin Sets
Do you wish to expand your coin collection? You can do so by investing on coin sets. A perfect start up kit for coin holding.Moreover , All over the country the mints issue the uncirculated coins or proof coins and sell them in fresh form. Even the royal Canadian mint as a part of stock clearance do so.
Step Three Segregation
While collecting randomly you may face trouble of coins getting jumbled up. It would be suggested if you segregate them from day one. Few tips might help you in this type of coin collection.
- You can concentrate on year and time
- Base on Origin Place
- Specific time period
- The design of coins may be a criteria
- Material of make of coins
When you start collecting coins your preference may change with time. Hence, maintain flexibility. Today you might prefer a golden coin, tomorrow your taste changes to silver. It is quite possible. You should not regret.
Step Four Would Be Arranging a Tool Kit
Not to worry you don’t need an expensive instrument for the purpose. You need some sealed as well as dry containers to store the coins. For preparing a great starter’s tool kit you need a 7x power magnifying glass to look closer into details of the coins. Sealed boxes to store the coins will be needed. Using cotton gloves while handling coins periodically will be needed. Keep a coin collector guide handy, refer as and when needed.
Step Five Is Caring Your Coins
Dirt can damga the coin’s outer finish. Never touch with bare hands. Use of cotton will be suggested. Better use a towel to safeguard your coin from falling. Always use dry environments to display or store.
Know About Historical Coin Collection
Your choice for coin collection can be based on periods. Here are some facts about ancient coins that might help.
800 to 480 BC The Archaic Period
- Ancient civilizations like Egypt and Mesepotemia might be having coin systems. However, it was Turkey, where the researchers could trace the coins in the 7th century BC. The coins discovered for the first time in this area were made of alloy, a mixture of gold and silver. Furthermore, the coins discovered were in the form of ingots of electrum In around 650 BC a system was developed for weight and purity. Further, for any trade and transitions, the weight of the electrum was unified.. Moreover, the Government of Lydia began stamping for authentication of the pieces of ingots. The ingots were widely adopted as a standard mode of transaction for trade as well as locals in that area.So, in coin collection keep this in mind.
- The oldest day coins were primitive in looks. Though the coins looked golden, they were made from white gold. Moreover, they bear scratch marks which are believed to depict water flow. However, the king of Lydia Croesus in the period 560-547 BC used electrum as material for coins. Moreover, this very person, the king of Lydia, became the leader for inventing bi-mettallic coins of the same weightage. His intent was highly appreciated. Furthermore, his technique was adopted widely between East and West. Note this in the coin collection.
500 to 323BC The Classic Period
- More detailed artwork on both sides of a coin started gaining attention as popularity of coins started increasing. One side mostly depicted a national emblem or a famous personality. While the other side beard is the motive of some natural plants or animals.
- Though the classical period is believed to be existing between 500-330BC. However, the tenure of the classical period is not certain. The period started and ended at different times at other places. The intricacy of work by artists is the factor most important to see.
- The coins belonging to the classical period are mostly related to commemorate the greek victory over the Persians. The “Athenian Owl” is a classic coin that was developed. Further, coins symbolizing Greek goddess of wisdom Athena
323 to 146 BC The Hellenistic Period
- After the death of Alexander the great, the Hellinic period started. Though researchers believe it began during the reign of Phillips II. However,the fact is not acceptable. The kingdom was in which Alexander reigned was distributed among his former generals. Consequently , the battle of power began. Finally, only three regions survived; Egypt, Macedonia, and Asia Minor. But in the meantime Greeks started spreading their influence all over the world.
- The coins manufactured by the Greeks tried to capture figurines of recent rulers or pharaohs. But the Egyptians were not satisfied. They preferred heavier gold coins of their own accord. The Egyptians had attained divinity by that time and preferred admirable coins depicting themselves or their kingdom. Further, these coins remained in use for about 100 years. Keep this fact in consideration when coin collection is done.
- The Greeks produced handmade coins. However, though hand carving was prevalent, shape and size were produced by the use of dies.
From 136 to 30BC in Post Hellenistic Period
Romans conquered Greece by the 1st and 2nd centuries and then Egypt by 30 BC. Further, locals were more conversant with the Greek language. Even the elites spoke the Greek language fluently. So, your coin collection will feature Greek coins mostly.
Some Best Coin Collection Variety
There are few varieties of coins that are best for investment. So, once you are interested in coin collection, the presence of these varieties in stock would be desirable. They are
- The 1909-S V.D.B Lincoln- Most popular penny of the US. Issued in honor of Abraham Lincoln. Over ages it contributed honour and prestige to the US nationals. A brilliant coin collection option for beginners in coin collection
- The 1921-Peace Dollars
- The 18CC-Morgan Silver Dollar
- The 1914D-Lincoln Cent
- The Mercury Dime of 1916-D
Genuineity Of Coin Collection
- The tag of the location “United States of America” will always be present on old coins of the US. However you can also visualize the old U.S coin tag. If it is not there isn’t a circulating coin as it is possibly a commemorative coin. The U.S. coins Red Book can help you in identifying commemorative coins.
- If the coin has been issued outside the US country no issues.The country name will be there. Google search option is there if you cannot make out the country. Moreover, there are pictures of about coins from 400 countries named as Don’s World Coin Gallery. Further the Don’s Website has an inscription in English to help you gather deeper knowledge of the country of issue.
- It would be risky to buy coins that are not government issued. However, there are old coins which have no name of country but are intrinsic in value. Many worldwide mints issued commemorative coins or sample coins which were having no country name they hold no value. If you are a novice coin collection better you chose government approved circulating coins.
Old Coin Research By Coin Collection Learners
The following research work needed by the coin collection enthusiast.
- If you are referring to the eBay site before the auction, you are not doing any crime. Before any deal the coin collection specialist has every right to check exact value
- Apart from the first page check the other pages too so that you don’t miss any important information you are searching
- If you encounter a similar not exact to the old coin it would be better if you send an email straight to the originator
- In case you encounter any query regarding the old coin. Try to put the same into an online forum. Someone might notice and help you out.
Benefits Of Coin Collection
The proverb “All work and no play makes Jack a dull boy” must be remembered. Playing after a certain age and professional routine becomes quite impossible. But hobbies remain with you when you are busy as well as idle. Hobbies are of different types. Some hobbies may be expensive and have no return, but a hobby like coin collection has a return on investment. Hobbies are there for everyone. Some people have a hobby of reading, some play music, some acting, etc, but at the core, everyone wants his or her own space.
Benefits on a Whole
- The hobby of coin collection can allow you to make money. You are required to raise the value of the stocked coin.But, you are suggested not to sell the stock until and unless the value is not fully known to you.
- No matter how much it costs. The kind of satisfaction you get with acquiring the beauty of rare coins is inexpressible
- By applying the methods of handling coins, you can educate yourself to history, people, culture and traditions across the world a great example of anthropological facts
- A hobby is mostly a stress reliever. This coin collection hobby can affect your mood effectively. The process of turning your interest into passion is achievable. Collecting those rare pricey items by hunting all over the world can bring you thrill. Once you get it you can feel satisfied. Expenses incurred in the process will get hidden.
- Legacy is another feature you will come across. The coin collection might benefit the future generations as well. Selling or auctioning can bring them money at times of distress.
Cultural Significance in Anthropology
In history, money has various functions. Moreover, coin collection plays a vital role in economics. The value of the coin depends on their age, place, period etc. The hobby of coin collection has a vast linkage with anthropology. They both deal with features like the past, culture, time, colonialism, etc.