Coin collecting : a fascinating hobby
A hobby a day keeps the doldrums away : Phyllis McGinley
A hobby gives you respite from the boring day to day routine most of us find ourselves trapped. Generally, hobbies could include reading, listening to music, net surfing etc. but another category of hobbies includes collecting things such as coins, postcards, stamps and so on.
Using coins as means of currency goes back to more than 2000 years since the Greek and roman civilizations. For example, during the medieval era, gold and silver coins were used as a medium of exchange. But later on other metals and their alloys took over the job of money minting. Numismatics refers to the study of currency. Though there is a close association between coin collecting and numismatics, a numismatist may or may not be a coin collector.
Coin collecting could also date back centuries into history because every civilization, country would have its own set of coins and currency. This interesting hobby can also be associated with the history of the world and how it reached today’s scenario. Coins belonging to different eras reflect the happenings of that period. They provide a historical background of the place where they were issued.
Collecting coins, literally means to gather or accumulate coins The purpose of collecting coins differs with person to person. There are five types of coin collectors. People who collect coins as a hobby occupy the first place. These people are curious to gain knowledge and have a special love for rare coins. On the other hand, there are three types of collectors, namely commercial buyers, hoarders and speculators who collect coins not for hobby but for making money. The last category is of Inheritors – people who acquire coins (collection, hoard, investment) from another person.
Coin collecting is a fascinating hobby and one can start with a few pieces and build up with time. Obviously, ancient coins of high historic value are hard to find so any coin collector would aspire to have a couple of such pieces in his album. Interesting collections often have coins that are not in circulation currently for example a 1-paisa coin could be of great interest to a teenager of today. Even coins minted with certain errors or some beautifully designed real masterpieces could be prized possessions of a serious collector and fetch huge amounts if sold.
Collecting coins is also referred to as the hobby of kings and aristocrats who collected coins out of sheer curiosity for such magnificent pieces of art. However, the modern coin collecting began around 14th century with Poet Petrarch, an Italian scholar who exhibited some of the finest collection of coins with him. The first ever convention of coin collection was organized by the American and Canadian Numismatic Association organized in August 1962.
Coin collecting is a most rewarding hobby. The coins collected may be passed on to the future generations. Probably, the coins that were handed down by your forefathers may not hold any relevance for you until you realize their true worth .There are certain coins that can fetch you money worth hundreds and thousands dollars at the present. So if you have started developing some real interest in coin collecting, look around for coins that catch your interest. It is an enjoyable hobby worth trying.
You may not find it difficult to start with coin collection as there are several places to look around. However, much depends on the type of coins you are searching for. There are a variety of collections.
- Subject collection refers to collecting coins depicting the particular interest of the collector.
- Composition collections also interest many people. People in this category may prefer only precious metals like gold, silver, copper and platinum.
- Period collections consists of specific historic period coins such as Roman, Byzantine, Greek, Indian, Celtic, Parthian, Merovingian, Ostrogothic and ancient Israelite origin.
- Volume collectors are interested in acquiring large volumes of particular coins. These coins are usually not high in value. The primary purpose is to collect a large volume of them either because of some challenge, as a store of value, or in the hope that the intrinsic metal value will increase.
Coin collecting is definitely a classic choice to pursue as a hobby. Once you have built up a nice collection of coins, you will surely count them among your most priced possession. Its such as engaging hobby always inspiring you to learn more and more. These coins also depict pictures of some well-known people during the era they were used as a medium of exchange. There is so much you can learn about the past from these coins.
Now you must be wondering from where you can start your coin search from? Coin shows are the best places to look around for a wide selection of coins. Here you meet other coin collectors and can befriend them. Ask your friends and family to give you the coins they find unusual for your collection. Check out the banks and buy rolls. The local flea market may be able to help you in finding some rare coins but be alert as the sellers often charge more than the actual worth of the coin.
Gain some knowledge about the coins that you are interested in before actually buying them. Carry pocket coin price guide with you when you go out to purchase coins because it is better to be equipped with good information rather than be duped by people outside.