Coin collecting has become a multi-billion dollar industry across the world. The earliest coin collecting hobby can be traced back to about 1300 AD when Francesco Petrarca, an Italian scholar and poet, started saving coins and realized the growing value of his collection over time. Coin collecting differs from numismatics in that the latter is focused on the study of different types of currency including coins, notes and other monetary objects.
Coin collectors specialize in different types of collections. Often this is determined by the financial resources that can be invested as well as ease of availability of the type of coins. Collections vary from focusing on a specific country (often the most common form of coin collection since it's easier to accumulate coins from one's own country or a country that one frequently travels to) to a certain historic era like the US Colonial Period, the Russian Revolution etc.
Other obscure forms of collection include focusing on collecting error coins or exonumia where coins created due to die errors, uneven designs, double strikes, etc. are in great demand. A much more specialized but highly difficult form of collection is to focus on coins from a specific civilization in history, like the Roman, Celtic, Aryan or Goth eras.
Those interested in coin collecting can find hundreds of coin collecting clubs in their areas where members gather to discuss trends in numismatics as well as to evaluate rare coins. In the US, the American Numismatic Association has a large roster of coin collectors from around the country. Formed in 1891, this organization encourages research and collection of different types of currencies. The ANA brings out a monthly magazine called the Numismatist that is a treasure trove of data for the avid collector. The ANA also publishes a coin value determination guide that provides clarity around the complex subject of coin valuation.
The coin collection market, like the stock and real estate market, has its ups and downs. The value of a coin is cyclical and can vary strongly based on demand or other current events. Often, coin collectors will find that certain coins may never appreciate over time even though they may be from a unique era or period. Conversely, other commonly found coins like the 1 cent from, say a Lincoln era, may appreciate in value. Many coins may also incur costs for storage since they may have to be kept in sterile conditions to prevent damage from oxidation or general touch.
For those interested in coin collecting, the easiest way to start is by collecting coins from their own country and then gradually focusing on a specialized area. There are numerous stores (both physical and online) that carry a large inventory of rare coins. Auction sites like eBay also have frequent listing of rare coins. Caution must be exercised when purchasing from online stores since certificates of authenticity can be tampered and fake photographs can also be published. If possible, it is recommended to use online escrow services that will collect the payment on behalf of the seller and subsequently pay the seller only after the buyer receives and verifies the coin.
Michael Russell Your Independent guide to Coin Collecting Article Source: http://EzineArticles.com/?expert=Michael_Russell |  |
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