Coin collecting is a hobby that has been popular in the United States since at least the 1850s. Throughout the history of American coins, collectors have been both courted with interesting, unique designs, and blamed for shortages in precious metals or coinage. Numismatics, or the study or collection of coins, holds a fascination for many people. You may be interested in yourself.
But how do you get started?
Start with Pocket Change
If you are planning to get started in the hobby, you might not want to spend any money until you figure out whether you like it or not. You could start with the coins in your pocket.
Many popular varieties include the 50 State quarter series and the America the Beautiful quarter series which can be commonly found in pocket change. Collector albums are readily available for these coins, and they already come in sets, making them easy to get started with.
You can also “buy” rolls of coins from a bank and search through them for the coins you want to start collecting.
Explore Your Interests
Study coins and determine your interests. You may choose to collect by country, era, coin type, or theme.
- Country: Are you interested in travel and foreign coins or currencies? You do not have to travel to collect money from around the world.
- Era: Are you fascinated with a specific time in history? Are you interested in ancient or modern coins?
- Coin Type: If you have a low budget, you can start by collecting pennies or nickels. Or perhaps, you may be interested in quarters.
- Theme: There are many types of coin available to suit any interest. Are you interested in animals, space, movies, or history? You can find coins to match these interests.
Research and Learn
There are many resources available to help you learn about coins and collecting. If you are curious about pricing, explore our Coin Value Guide online, or purchase a book such as the popular Red Book to learn about coins. You may also enjoy joining some coin collecting groups.
The Coin Value Guide
It is immensely helpful for you to familiarize yourself with our Coin Value Guide. Here you can search for coins and see pricing for a variety of grades. This guide is updated regularly and it is an easy way to search prices online. You can also use our free portfolio tool to keep track of your coins.
The Red Book
If you prefer a paper option, consider a copy of the “Red Book,” a colloquial name for A Guide Book of United States Coins. This book lays out standard pricing, mintages, rarities, background data, and appearance for all the major varieties of U.S. coins.
Even expert numismatists keep a copy of the Red Book close by, and for novice collectors, it is an essential companion to learn about the coins you wish to keep an eye out for.
Collecting Clubs and Groups
You can learn a lot about coin collecting from other collectors. The first group many join is the American Numismatic Association (ANA). This coin collecting group has over 25,000 members nationwide. This group offers many educational opportunities for adults and children. You can also meet other collectors and coin sellers at local coin shows.
Set Your Budget
You need to determine how much you would like to spend supporting this hobby. You may want to start with a conservative budget until you become more confident. You also need to decide if collecting is a hobby for you or if you are looking to make a profit. Setting your intentions will help you create a smart budget for you.
Start Collecting
One of the most important aspects of collecting is to only buy from reputable dealers. You can buy coins online, at coin shows, and directly from dealers. If you like the “hunt” of finding coins you may want to buy coins in person from estates, pawn shops, local coin stores, or from local coin collectors like yourself. If you would rather buy online, you can find nearly any coin you are looking for in online markets. If you buy online, make sure that your items will be shipped securely and insured.
Protect Your Coins
Prepare a way to store your coins securley and in a cool, dry place. Protect your coins with suitable holders. Keep all paperwork that may have come with your coins such as receipts, certificates of authenticity, and grade information. If your coins are graded, do not take them out of the holders to maintain their value.
Coin collecting is a rewarding and interesting hobby, and if you are looking into starting a collection, start with us. APMEX has one of the largest selections of numismatic, semi-numismatic, and bullion coins available.
