How to get new coins and new friends
A beginner's guide to coin collecting - part 2
Welcome back to the second article in the series aimed at helping people delve into the wonderful hobby of coin collecting. In this series, we 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.
Alexander Malioukov
Hey there,
Remember when I mentioned asking your friends and family for new coins? It's a great way to get started on your collection! But what about when you end up with duplicates — coins you've got two, three, or more of? Well, that's actually a good thing because it opens up a whole new opportunity: trading!
Personally, I absolutely love trading coins. The cool thing is, when you connect with collectors from far away, they'll be super excited about your local coins. They'll find them exotic and fascinating, just like you find theirs! So don't be shy to explore the exchange game. You'll not only grow your collection, but also build a global network of coin-loving friends. It's a win-win situation, my friend!
“Don't be shy to explore the exchange game. You'll not only grow your collection, but also build a global network of coin-loving friends”.
Connecting with coin collectors
There are various ways to connect with fellow collectors and engage in coin trading. One option is to utilize coin exchange services like Numista, Colnect, Coin-Brothers, and others. These platforms require registration, after which you can provide detailed information about the coins you have available for swapping. It's important to include specifics such as country, year of issue, mint, variation, and grade.
Speaking of grading, it's an extensive topic in coin collecting that we'll explore further in future discussions. However, if you'd like to avoid diving deep into grading for now, you can simply take photos of your coins. When requested, you can show the photos to your fellow collector, and they can determine the grade for themselves.
When it comes to variations, privy marks, and mintmarks, things can get even more complex. Sometimes, these details may not be easy to see and can greatly affect the value of a coin. Thankfully, most coin exchange services provide catalogues that help people identify the differences. Additionally, seeking advice from experts can also be valuable in such situations.
This is the first version of Italian 1000 Lire 1997, with errors in the geographical and political boundaries of Europe. All the boundaries of Germany are those previous to the unification; Luxembourg and the Netherlands are missing. Despite these errors, the coin is very common.
Photo © NumisCorner.com
This coin is a corrected version of Italian 1000 Lire 1997 with the redesigned map of Europe (no border between two Germans etc.).
Photo © NumisCorner.com
Now that you have your swap list online, it's time to take the first step. Start by browsing through the service and look for an interesting coin. Many collectors begin their coin collecting journey by trying to acquire at least one coin from each country, while others focus on coins minted in the year of their birth. Choose something that catches your eye. Yes, you might come across coins that seem out of your league, but don't hesitate to approach a collector with an offer or question. Let them know that you're a newbie just starting out. Experienced collectors are usually happy to provide assistance and guidance, and they may even offer a nice coin as a gift. We strive to keep our hobby popular and encourage new collectors to join us.
Certainly, there is always the option to purchase coins. We can delve into that topic in future posts. In my personal opinion, investing in coins can be a sensible decision when you focus on your specific area of interest and possess knowledge about grading, rarity, and the market value of coins.
💡 When engaging in coin exchanges, it's important to be aware of the risks. Here are some tips to minimize those risks:
Dealing with an unreliable partner:
Check the partner's name and address online to see if they are on any blacklists.
Review their profile, including the number of exchanges and ratings received.
If there are concerns about the partner's reliability, ask them to send their coins first.
Dealing with postal risks:
Wrap coins in plastic or paper to protect them.
Affix them securely to a piece of cardboard using tape.
Place the package in a bubble envelope to prevent tampering.
Include a phone number on the package for easier identification.
Use registered mail for tracking purposes.
Registered letters can be costly in certain countries, while in others, shipping coins is prohibited by law and can lead to criminal prosecution. In such situations, we recommend exchanging coins with local numismatists through in-person communication to avoid any legal complications.
Get ready to have a blast with your first coin swaps and dive into the wonderful world of the coin collectors' community! It's an absolute delight filled with joy and excitement. You'll make incredible friends and connect with experts who are always there to lend a helping hand, whether it's identifying new coins or offering pricing insights. Plus, you'll become a cherished member of a vibrant international club, where the possibilities are endless. Just imagine the thrill of meeting fascinating individuals like a London policeman or a Berlin U-Bahn operator during your travels. You'll have the chance to chat not only about coins but also about their country, city, and job. It's an incredible journey that promises unforgettable experiences, meaningful connections, and an ever-growing coin collection. So, get ready to have a blast and enjoy every moment.
Meanwhile, let's quickly recap a few important terms that collectors use, as mentioned in this article:
A mint mark on a coin indicates where it was produced, such as using city initials like the US (e.g., "D" for Denver). Some countries, like Germany, use letters for cities (e.g., "A" for Berlin). In Spain, stars with different points were used (e.g., six-pointed stars for Madrid, eight-pointed stars for Barcelona).
Roosevelt Dime 2005 with mint mark D. Photo © NumisCorner.com
Additionally, many mints worldwide use privy marks, such as the Royal Canadian Mint's maple leaf symbol.
The main difference between a privy mark and a mint mark is their purpose. A mint mark shows where a coin was made, while a privy mark can also serve as a design element to honor special occasions or indicate its inclusion in a specific collection, in addition to showing the minting location.
The maple leaf on the top of the coin is the privy mark of the Royal Canadian Mint ). Photo © Royal Canadian Mint
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