How to start first coin collection
A Beginner's Guide to Coin Collecting
Welcome to the blog series, 'A Beginner's Guide to Coin Collecting.' In this series, we will embark on an exciting journey together, exploring the world of coin collecting. Our visiting editor, a seasoned collector and Numismatic advisor for Coiniverse, Alexander Malioukov, with a lifelong passion for coins, will be your guide. Alexander will share invaluable insights, tips, and stories to enrich your own collecting adventure.
Please leave comments and questions at the end of this post.
This is the beginning of a beautiful friendship
Alexander Malioukov
Hello there!
This article marks the beginning of a series aimed at helping people delve into the wonderful hobby of coin collecting. Whether you're already a fan of these intriguing historical artefacts or just starting out, I'm here to share some useful and interesting information with you.
I've been collecting coins since I was a child, following in my grandfather's footsteps. I understand that not everyone has the fortune of starting with a small collection, so let's begin with the basics: how to acquire your first coins and jumpstart your coin collecting adventure!
“To start your coin collection, simply check your wallet, pockets, or even a coin piggy bank”.
Aquiring your first coins
To start your coin collection, simply check your wallet, pockets, or even a coin piggy bank. Modern coins typically have a face value and a date, so begin by sorting them based on their value and noting the dates. Some collectors find it fascinating to focus on acquiring coins from specific years, relishing the thrill of hunting for coins with low mintages (known as key date coins). Others may prefer collecting coins by type, selecting one coin of each type, even if they appear identical but have different years of issue.
Additionally, you may come across coins that stand out from the rest, despite having a similar date and value. These special coins are called commemorative coins and often hold higher value compared to more commonly circulated ones. Coin collectors appreciate them for their remarkable designs and the captivating historical, political, cultural, and sporting events they represent.
Once you've sorted your initial collection, keep the shiniest and newest coin from each type or year for yourself. The remaining coins can be used for trading with other collectors. Remember, even the simplest coins from your country can be highly valued by collectors worldwide.
When you're at this point in your coin collecting journey, you might have some uncertainties about the specific details of your coins. To gain more knowledge, there are several avenues you can explore. Seek guidance from experienced collectors, refer to online or printed coin catalogues, or take advantage of scanning services like Coiniverse. These mobile apps offer the ability to scan your coins, granting you immediate access to information about their origin, historical context, and even an estimated value.
Now, let's focus on expanding your collection. Reach out to your relatives, neighbors, and friends to inquire if they have any interesting coins. Some might have kept coins from their travels abroad, while others could possess old coins inherited from their grandparents. While they search for coins, let's quickly recap a few important terms that collectors use, as mentioned in this article:
The face value of a coin is the monetary value indicated by the issuing authority, typically printed as numerical or alphabetical characters on one or both sides of the coin.
Common reverse side of 2 euro coin, 2014
The minting date, common in modern coin production, is the year of issue explicitly inscribed on the coin, allowing collectors to easily identify when it was produced. Ancient coins often lack specific dates.
A commemorative coin is a special type of coin issued to honor or celebrate a specific event or subject. These coins feature unique designs related to the occasion. While many commemorative coins are primarily sought after by collectors and not intended for regular circulation, some countries also release commemorative coins that can be used as legal tender.
Obverse side of 2 euro commemorative coin, Finland 2014
Enjoy your coin collecting journey, and happy collecting!
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