Coin Collecting as a Hobby

Most people engage in different activities that they consider hobbies. When people consider a particular activity as a hobby, it means that people find that activity pleasurable in that they enjoy collecting different kinds of coins.

In this context, it does not necessarily follow that the coin collector will focus more on the monetary value of the coins. When the focus of coin collecting delves more into the monetary value of the coins than the gratification the collector obtains, it is no longer deemed a hobby but an investment.

History tells us that the main reason other generations collected coins was the value that coins would someday attain. The ancient form of coin collecting was even labeled a hobby “fit for the kings” because ancient coins were so valuable that only the kings were capable of collecting them.

Today’s coin collection is no longer limited to the “kings” or the affluent. Anyone can now consider coin collecting as his or her hobby. The popularity of coin collecting continues to flourish as more and more people collect coins. That is why it is now known as the “King of Hobbies”.

Why Such Popularity

One of the many reasons coin collecting is considered by many as one of the most popular hobbies in the world is based on its ease of access.

When somebody wants to start coin collecting, he can start any time, anywhere. Some people start coin collecting with the coins that they have in their pockets. This phase of coin collecting is known as the “accumulator” stage, where collectors try to accumulate as many coins as they can often using their “pocket change”.

After the collector gets the “hang of” accumulating coins, the hobby becomes more expensive. This is because true hobbyists are willing to pay the price as long as a particular coin will enhance their collection and will beauty to their “masterpiece”. And the rest, as they say, is history.

Coin collecting as hobby is a pleasurable activity that any person can use to create a feeling of gratification….

So you want to venture into the world of Coin Collecting?

Well, there are a few basic things that you need to get startedon this exciting hobby. For starters you need to put together your very own Coin Collecting Kit.

As you may be aware Coin collecting is not the same as simply just keeping coins:
You will gather from seasoned Numismatists and/or even coin enthusiasts that it is a Hobby that requires some form of system and structure. A few tools of the trade so to speak must be employed to make sure that it is fun and to some extent profitable. It can also require some discipline.

Here are some of the ABCs of what must be included in the Coin Collecting Kit.
1. Coin Price Guides

Thiese will give you information about how much a coin is worth and this is crucial information. This will affect what you’re willing to buy a coin for, how much you’re willing to sell it for, and how you look at and appreciate coins generally.

There are lots of information about coin prices if you search for them, however, some coin price guides are more accurate than others. No single guide is foolproof. All these guides just give approximate market values and actual coin prices. Coin guides are not limited to being used just by beginners, but are utilised by professional coin collector’s as well.

Coin guides can help with giving tips on how to start, as well as special instructions on how to carry on with the hobby of coin collecting.

Also since different coins have different ways of grading, pricing, etc, coin gudes can provide valuable information

It is advisable that you read guides before getting started with the hobby so you avoid making wrong decisions because of lack of information.

2. Coin Inventory Records
Coin Inventory Records are of the utmost importance when you are collecting coins. They help you keep a record of all valuable information of the coins you have in your collection, such as face value, cost, grade, trend, year of the coin etc.
A ledger would have been used in the past to keep a coin inventory, but with the advancement of modern technology, we have software that will carry out that will do this even better than traditional ledgers.
Coin collecting software does so much more than just keeping records of your collection but can also include a database of coins in circulation.
Coins are very rarely made redundant because of this software as a Coin Collector can see at a glance the items in his/her collection.

3. Coin Containers
You would need Coin Containers in order to move and store your coins. It is important to buy containers that will protect them adequately so that they do not get damaged. Bear in mind that coins do react to some chemicals for example pvc from plastic and sulphur in paper, therefore you are advised not to use those for storing your coins for a long period of time.

4. Magnifying Glass
When you need to do coin grading, you need to use magnifying. A 7x magnification is highly recommended by a lot of Numismatists however magnification between 4x to 10x will do the job. The magnifying glass helps immensely in examining the authenticity and quality of the coins. Seemingly little details which may appear to be insignificant information such as hairlines or scratches are big deals when it comes to coin collecting as they affect the value of coins.

5. Silica Gel

Silica Gel is really important when it comes to maintaining the moderate temperature, low humidity atmosphere which are conducive to coin preservation.

6. Lamp

A light source is always needed and must be must be placed half a meter away from the workspace. A halogen lamp or simply a 75-watt incandescent lamp is recommended for this purpose may be

7. Handling equipment

Care must be taken when handling coins as finger marks reduce the grade of the coins. People who are serious coin collectors therefore invest in surgical gloves and velvet pads which they use when handling coins.

Once you have all the above items, then your Coin Collecting Kit is complete, you are really ready to go for it!

Enjoy!!!