Coin collecting is fun! For more than 2,000 years, coins have been meticulously spent and collected. Some coins have value that far exceeds its currency. Plus, a coin collection is a great way to start a family heirloom, which can be passed on for prosperity for future generations.
Why collect coins
There are many reasons to collect coins. First, each coin has a unique story. Whether it was struck during a time of ration or to symbolize a patriotic hero, each coin offers a glimpse into the past. Each coin also has a certain mint mark and composition. Some people collect coins because of their value. Certain coins, particularly gold or silver ones, appreciate in value. Others collect coins purely out of admiration and enjoyment.
Types of coins
There are various types of coinage available to collectors. For starters, there are regular issue coins, which are struck by a government authorized mint and are intended for general circulation. Most coins fall into this category since they are most readily available.
Another type of coinage is proof coins. These coins are struck using a specific technique to produce highly mirrored fields and frosted devices. This technique produces a beautiful coin, which makes for a great gift or display piece.
Commemorative coins can either be uncirculated or proof. They are typically minted in silver or gold and commemorate a significant event, person or organization in history.
Finally, bullion coins are uncirculated coins commonly collected for investment purposes. These coins are often silver, gold or platinum. Bullion coins are sold at melt value, or what the metal of the coin is worth if you were to melt it down.
Coin collecting gives you the opportunity to pursue a lifelong hobby. In a world of instant gratification, coin collecting teaches patience. The best coin collections are built over time, even years. Keep in mind, coins are a long-term investment. That said, you will want to hold on to your coins for at least five to ten years for greatest profit.
People collect coins for personal pleasure or for investment purposes. Today, many people are looking for items of value that they can hold onto. While cars and jewelry can depreciate in value, coins become more valuable over time. This year, start a hobby that will make you happier and more profitable in the years to come!
Gary Dyner is the owner of Great American Coin Company. Connect with him on Google+.