Saturday, January 28, 2017

COIN COLLECTION: A General Overview

Coin collecting is an activity that is enjoyed many, including individuals of all ages.  In fact, coin collecting is more than just a fun and enjoyable activity; it is considered a hobby.  This hobby is one that many people wish to enjoy and learn more about.  Please continue reading on for a general overview of the great hobby of coin collecting.

English: A photo of coin collection. By jiji j...
A photo of coin collection. By jiji john Mallasery. This hobby started from my early school days.
(Photo credit: Wikipedia)

The history of coin collecting can date back to when coins were originally issued.  Coin collecting was commonly referred to in the past as the “Hobby of Kings.”  This is due in part to the expense of coin collecting back in the older days.  Many of the individuals able to coin collect were royalty, literally.  As for more modern coin collecting, it took off in the early 1900s in the United States.  Although coin collecting was enjoyed well before this point in time, its popularity increased drastically when it was clear coin collecting could be profitable.

Coin collecting is considered a popular activity, as it is one that anyone can enjoy, including children.  In fact, coin collecting is a hobby that many parents and professionals in the field of education encourage children to enjoy.  In this sense, coin collecting can not only be profitable, but it can be educational as well.  Also, coin collecting is a hobby that is relatively easy do.  For many coin collectors, especially children, the startup costs are low or are non-existent.  

The purpose of coin collecting is another reason for its success and increase in popularity.  There are five main types of collectors. These individuals include investors, hoarders, hobbyists, dealers, and inheritors.  Those who collect coins for a hobby do so for personal fulfillment, not necessarily profits.  Those who are considered inheritors often inherit coin collections from hobbyists.  As for investors, they are in it for the money.  Hoarders usually examine their coin collections for value, but many tend to just collect as many types of coins as possible.

Another likeable aspect surrounding coin collecting is that of the supplies needed.  Often times, little or no supplies are needed, especially for children or hobbyists.  With that in mind, there are many benefits to using professional coin collecting supplies.  The good news is that many supplies, including coin folders, coin albums, coin holders, and magnifying glasses, are affordably priced.

The options that coin collectors have, when looking to expand their coin collections, are another reason for its popularity.  Coin collectors have a number of different options when looking to expand their collections.  Many hobbyists stay on the lookout for rare, limited edition, or older coins that they or those that they know may receive on a daily basis.  Other coin collectors, especially those looking for rare or other valuable coins, often turn to professional coin dealers or the internet.  

In keeping with the acquisition of coins, coin collectors have freedom to collect whatever they want.  While coin collectors looking to make a profits, also commonly referred to as investors, tend to stick to rare, outdated, limited edition coins, and other coins of value, there are no requirements to do so.  Hobbyists, as well as children, tend to collect any coins that catch their interest, either in date, value, condition, or size.  No specialty requirements are necessary; however, it may add to the excitement of coin collecting.

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