While some collectors find joy in collecting coinage by year, others look for the value of foreign coins. Foreign coin collecting is when you collect coins from countries other than your home country, like the United States. A grand achievement for a foreign collector might be to collect a coin from every country on earth. Foreign coins can be found in pocket change or unearthed from sunken treasures. Either way, these precious beauties are steeped in rich history!
How to get started
One way to start collecting foreign coins is by attending local and domestic auctions. Coin auctions allow you to buy, sell and find values for foreign coins. Another option would be to travel to a country and exchange American currency for foreign coins directly. However, the easiest method would be to order foreign coins from a trusted coin company.
Cost of foreign coinage
Foreign coins are tied to exchange rates; prices will vary. The best time to buy foreign coins is when the dollar is strong. Dealers will often adjust their coins to compensate for fluctuations in the currency exchange rate. However, if you’re really lucky you may find an incredible bargain!
Foreign coin identification
There have been many different forms of currency throughout history. Therefore, identifying foreign coins can be somewhat challenging. The first step in identifying a foreign coin is to determine which country the coin was distributed. Some have the country displayed on the coin; others don’t have any writing at all. The next step is to determine the coin denomination. Each country has a different name for its currency and different names for fractions of that currency. The last step is to find the date the coin was minted. Most of the world uses the Western dating system, so locating the year of the coin is should be fairly simple.
Popular foreign coins
Foreign coins come in many different shapes and sizes. Some are round, square or multi-sided coins. Foreign coins also come in different colors too. For example, Canada and Mexico use the two-toned coins. The use of two colors gives higher-denomination coins a more distinctive look. Popular foreign coins include the Mexican Silver Peso, the Canadian Maple Leaf and the South African Krugerrand. However, there are many valuable foreign coins in circulation today.
With more than 190 different countries in the world today, most with their own coinage, you will never run out of coins to add to your collection. If this sounds interesting to you, think about starting your own foreign coin collection today!
Gary Dyner is the owner of Great American Coin Company. Connect with him on Google+.