Coin Collecting for Beginners – Start a Fun Hobby with Ease
Coins have not only been around since the 5th Century BCE, but they also have a rich history surrounding them. For example, here’s one of the oldest coins in the Coiniverse coin database👇
Find more inspiration for your collections and other interesting coins in our #CoinOfTheWeek series by following @Coiniverse on Instagram.
Although coins are helpful in day-to-day financial transactions, you can do much more with them — starting a coin collection!
Creating a coin collection is not just a fun hobby but also a hobby that can be profoundly satisfying and help you broaden your knowledge about coins. Not to mention, you get a chance to collect art because collecting coins is a form of art collection.
Even though the hobby of collecting coins was once associated with the wealthy and influential in years past, this is not the case in modern times. Anyone, anywhere, can become a coin collector or a numismatist, as they’re called. Don’t fret if you have no idea how to start a coin collection. This article is all you need for information about collecting coins for beginners.
Coin Collecting for Beginners
We know that you are curious about how to collect coins so you can own a coin collection that puts even Justin Gilbert Lopez, the Guinness World Record holder for the most extensive coin collection, to shame. However, the first step to starting a coin collection is not collecting coins (who would have thought‽).
Step 1: Explore the hobby and experience its richness
Coin collecting is, first and foremost, a hobby and a hobby should bring you delight. The best of the best in any hobby have the same saying: "The best [insert hobbyist] out there is the one having the most fun." Thus, before diving into the nitty-gritty of coin collecting, explore the world of coins, learn their art and history, and see what attracts you.
Scan you coins with Coiniverse to learn the stories behind them.
Step 2: Learn the language of coin collecting
The second step in coin collecting for beginners is to learn the language used in the world of coin collecting. You might think it’s a bit boring compared to collecting the actual coins, but understanding the language used in coin collecting is vital for many reasons.
For one, it helps you easily communicate with other coin collectors and join whatever debates and discussions. It also allows you to effectively evaluate the value of a coin and know the best coins to collect. Not to mention, doing research will be way easier for you if you already know the standard terms used in coin collection.
Below are a few essential terms used in the world of coin collecting that you need to be aware of:
Obverse: The obverse is simply a coin's front side. It is commonly referred to as “Heads”. The obverse typically features the date and primary design of the coin, and occasionally, you can find the issuing authority’s name on the obverse.
Reverse: This is the back side of the coin, which is commonly referred to as “tails”. You will either find a different design on the reverse or the denomination of the coin.
Mint mark: This is typically a letter or symbol that shows where the coin was minted. A mint mark includes an identifier of the mint.
Denomination: The denomination of a coin is simply the face value of a coin, e.g., quarter, dime, nickel, 2 Euros, 1 Forint, etc.
Composition: The composition of a coin tells you what materials a coin is made of. This could be gold, copper, silver, or other alloys.
Edge: The Edge of a coin is its outer border. The Edge can have some features like lettering or reading.
Coin Finish: Coins are produced with different finishes, e.g., proof, which has a mirror-like background and frosted design element, and BU, an abbreviation of brilliant uncirculated.
Grade: The coin’s condition significantly contributes to its collector value. There are multiple different grading systems in the world, for example, this one which we use in Coiniverse as well.
NGC and PCGS: NGC (Numismatic Guaranty Corporation) and PCGS (Professional Coin Grading Service) are two of the most recognized coin grading plus certification services.
Explore coin details with Coiniverse.
These are just a few terms used in coin collecting, but it’s still a good start. Feel free to do more research and familiarize yourself with more of these terms.
Step 3: Create and set goals
Before you start a new collection, another thing you need to do is to create and set your goals. Making goals can keep you motivated and organized and gives you a feeling of accomplishment or satisfaction when you meet your goals. Your goals can be determining what type of coins you want to collect, searching for such coins, and eventually adding them to your collection.
For instance, you can choose to only collect coins based on coin origins, coin year, themes, or even denomination. Once you know how to identify coins, creating goals and meeting them will be a piece of cake.
Pro tip! Don’t get bogged down on what you should collect and whether your goal for the collection is good enough. Collect what you care about and find fun, especially in the beginning. Some collect only coins with a particular animal in them, and though it’s not the most traditional way, it’s still a way.
Best coins to collect for beginners
The best coins for you to collect as a beginner are the ones that are easily available. Though getting hard-to-find rare coins can be exhilarating, it can easily get you feeling stuck right at the beginning. Start with the easy ones that are available and grow from there.
Step 4: Start collecting coins
We are finally here, collecting coins! Acquiring your first coins is relatively easy. You can start collecting coins by going through your wallets and pockets or breaking your piggy bank. You will be surprised by the amount of cash you will find. After you gather these coins, you can begin sorting them according to denomination, country of origin, or the coin’s date. Remember to scan the coins with Coiniverse to learn the stories behind them.
When you go through the coins you’ve gathered, ensure you keep an eye out for coins that are striking or unique, as they may be valuable and rare.
You can also ask your close friends, neighbors, colleagues, or family members if they have any fascinating coins that they can give or trade you. You can get coins from other countries this way. Another way that you can add coins to your collection is by interacting with other coin collectors. The best part is getting in contact with other coin collectors is relatively easy these days, thanks to the power of the internet.
If you choose to trade coins online, you should ensure that the person you want to swap coins with is trustworthy and not a fraud. Also, verify the coin's authenticity before you trade or purchase coins online. If you’re buying coins through Coiniverse Shop, we will have done this verification in advance for you.
Aside from the internet, you can also meet other coin collectors by attending coin exhibitions or shows.
Keep your coin collection always with you with Coiniverse
Coiniverse is a great companion for managing your collection. It helps you create a digital twin of your collection, share it, and always keep it in your pocket. Just scan the coins you get, add them to your collection, and let others experience them as well.
Step 5: Get essential tools and supplies
Getting basic tools and supplies will help you maintain the value of your coins and keep them in excellent condition.
Here are a few supplies to dive deeper into coin collecting.
Coin trays
Coin holders
Gloves
Catalogue such as a notebook, Excel, or Coiniverse
And more as you progress
You can find tools and supplies in webshops such as Leuchtturm/Lighthouse.
Remember that the tools you get will mainly be influenced by your goals and the size you want your collection to be.
How to care for your coins
Now that you’ve successfully started gathering coins, you should learn how to properly care for them so they will stay in excellent condition and remain valuable. Below are a few tips to help you properly manage your coins.
Try to avoid touching the surface of a coin often
One of the most essential things you can do to maintain the value of your coins is to avoid touching a coin’s surface as much as possible. We know that you can’t help but hold and admire a coin, but human hands have a lot of dirt, microorganisms, and oils that can potentially damage a coin’s surface. Before touching a coin, you should thoroughly wash your hands. You can also hold coins by only their edges or invest in nitrile gloves, or you can even wear cotton.
Store your coins properly
When you store coins properly, you ensure not only their safety but also that they maintain their value. You can properly store your coins by investing in essential tools such as coin flips, capsules, or holders. Another thing you can do is ensure that your coins are stored in a cool, dry place. Ensure you don’t keep somewhere with very high humidity or in a sweltering place. If you have precious coins and are afraid of them being stolen, you can invest in a safe or highly secure safety deposit box.
Do not clean your coins
One of the biggest mistakes you can make as a coin collector is to clean your coins. Why? Because it can cause discoloration or even scratches, which can significantly reduce the value of your coins. Never attempt to remove any dirt. Just leave the coins as you found them and store them properly.
Inspect your coins periodically
After you store your coins, make sure you take time out for inspections. You can choose to inspect your coins either weekly, monthly, or even yearly. When you examine your coins, check for issues such as changes in condition, such as discoloration, effects from environmental conditions, etc. If you find anything wrong with your coins, ensure you look for ways to solve these issues.
Consider insurance
If your collection is quite valuable, you can choose to get insurance in case of theft or damage.
What next?
Excited? Great! Overwhelmed? Don’t worry. Now, just get started. Start with Step 1, and it will go forward from there.
Download Coiniverse for your Android or iOS device.
When you want to learn even more about the hobby, we recommend checking out these articles to get you moving forward:
· How to start first coin collection