6 Coin Collector Types - How They Collect Coins

The hobby of coin collection can be enjoyed persons of all age group. As a hobby, it has been there since the 1800's, though it became widespread only during the 1900's. People collect coins for a variety of reasons: right from those who are interested in coins purely for the personal satisfaction to those whose motto is only making money through their collection. We are describing the following broad categories here:

1. Professional coin collectors: These are the individuals collecting coins with aim of making profits sometimes in the future. Most of the time they are quite informed individuals who can evaluate the value of the coins by examining their conditions. They have the skills to separate a precious coin from a lot of ordinary coins.

2. Investors: They collect coins purely as an investment. They are on the look out for rare types of coins. One can, of course, find coins of high value -- coins that are older, limited edition coins, out of circulation coins, and rare types of coins accidentally, but it is difficult to count on chance discoveries for collection. So they often buy these coins from any one who is willing to sell, particularly from the professional coin dealers. An investor coin collector differs from a professional coin collector largely in the degree of expertise.

3. Coin dealers: Although it is highly debatable, but coin dealers also form a separate category of coin collectors. They are always on the look out for rare types of valuable coins. They normally don't hold their coins for long as compared to other coin collectors who are trying to build a collection over a period of time. Most coin dealers would like to have a fast turn around -- they sell them as fast as they can to make quick profits.

4. Hobbyists: These are people who collect coins solely for personal fulfillment and pleasure. Hobbyist normally a broader vision behind their hobby -- they love the coins, are interested in knowing their histories, etc. Quite frequently, hobbyists donate their coin collection to history museums or other organizations. And sometimes their collection passes on to the next generation and so on. While hobbyists start collecting coins only for fulfilling their personal interest, sometimes later on they begin to make profits.

5. Inheritor coin collectors: There are people who did not start collecting coins themselves but inherited the collection from past generation(s). Generally, the inheritors just keep the coin collection; they treasure it but do nothing, and it gets passed on to the further next generation. Sometimes the inheritor becomes interested in the collection and grows it further.

6. Hoarder: These are individuals who just keep whatever coins they come across. Some are simply afraid of losing a valuable coin if not stored. They are neither profit makers nor do they collect for sake of love for coins -- they are just hoarders. Many hoarders may turn around, examine and evaluate their collection for its value, others are not normally concerned about doing so.

Well, these are the noramlly known categories of coin collctors -- on the one extreme is the professional coin collector who is an expert, and on other, the horder who merely hoards the coins.You can figure out for yourself, which category you belong to.
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A Brief History Of Coins

The first coins seem to have been minted around 650 B.C. in Lydia, in what is now the western part of Turkey. Prior to the invention of coins, goods were exchanged using pieces of carefully weighed precious metal like gold or silver.

This was a somewhat clumsy system, and it was gradually replaced by coins made of standardized weights of precious metal, usually silver or gold but also copper. Coins soon became the preferred form of payment for goods in those parts of the world they were used - the Mediterranean region, India, and China.

It was the Greeks who in the fifth century B.C. began to commission skilled artists to design the faces and figures on their coins. They often used images of gods and goddesses; various animals and common objects like shields were also used to adorn coins.

Coins issued under Alexander the Great typically show the mythical hero Hercules. Living people were usually not depicted on coins until the beginning of the Roman Empire. Then, the emperors made sure to show their portraits on the coins issued under their rule.
The Rise of Coin Collecting
It seems that some Roman emperors used to pay higher prices than the face value for certain older coins no longer in circulation -- if true, then they were the first "coin collectors".

Next historic evidence of coin collecting stems from the Middle Ages: Francesco Petrarca, an Italian poet who lived during the 14th century, is known to have been an enthusiastic collector of old coins.

Coin collecting also became fashionable among some of the Popes, and other noblemen, during the 15th century. Later, kings like Louis XIV of France took a serious interest in collecting old coins; indeed, the activity became known as "The hobby of Kings".

Later, as time passed, coin collecting was no longer an interest reserved for the wealthiest. It remained a rather exclusive hobby though, up to recent times. The first international convention for coin collectors was held as recently as 1962 in Detroit, Michigan. However, as it was attended by about 40,000 people it's evident that coin collecting had by then turned into a hobby for ordinary folks like you and me.

Nowadays millions of ordinary people are interested in collecting coins, and coin collections are on display in a couple of museums, including the Smithsonian in Washington D. C.

Coins In the U.S.
The United States didn't officially start minting their own coins until 1792, when the Coinage Act was passed. This declared the United States dollar as the official means of monetary exchange all over the country.

The first coin manufacturing facility was located in Philadelphia, which was back then the US capital. It was followed by the San Francisco Mint in 1854, and by the Denver Mint in 1906. There have been a few more branch facilities but those are long gone.
Source: coincollectingsecrets101.com

Coins - Making Heads Or Tails Out of Them

Back in my early days of collecting coins, as a teenager, I lived in Sweden. So naturally, I collected Swedish coins. Now, coins have been struck in Sweden for about one thousand years, so there is a bit to choose from if you decide to collect them. Well, actually coin production in medieval times was quite small and irregular -- it seems from found coin hoards that in those days the circulating coins were rarely struck in Sweden.

It was in the early 1500s that the production of coins in my native country picked up momentum, during the reign of a very powerful and long-lived monarch called Gustav Vasa.

Now, if you take any coin struck during the time of that king, or any time thereafter, you will always find some reference to the ruler somewhere on that coin. (Sweden is still formally a Monarchy, by the way.) On the larger and more prestigious coins there will be the king's portrait, of course. And the lesser coins will display things like the king's name, or initials.

As a budding coin collector, I learned that the side of a coin featuring any such symbol of the ruler would be considered the front side -- in numismatic terms, the "obverse". A portrait carried the most weight, followed by other symbols in a precisely defined sequence.

This is all fine and dandy, but how do you apply these rules to coins from a country like the United States? Actually, you really cannot. Typically, the only clear reference to a minting authority (i.e. the answer to the question: "Who authorized the production of this coin?") -- is the phrase "United States Of America".

Rarely is there any portrait of a U.S. President on U.S. coins. Actually, George Washington, who was President when the very first U.S. coins were minted, strongly opposed the idea of putting his likeness on the face of a coin. He did not want to come across as the equivalent of an old-fashioned European king!

I have looked for clear-cut rules about what constitutes the obverse and reverse sides of U.S. coins, but with limited success. The rules I've seen appear rather arbitrary. Looking in coin catalogs, it seems that any image of a human being carries much weight when assigning the honor of being a coin's obverse side. For instance, a Liberty head is virtually always seen as being on the obverse.

For lack of a human, an animal can also serve the purpose; such as with the "Flying Eagle" one cent coins from 1856-58. Here, the Eagle side is considered to be the obverse.

Well, at least the now so popular 50 State Quarter series leaves no room for doubt -- each one of these coins proudly displays a portrait of George Washington!

Would George Washington have approved of appearing on so many coins? Who knows... To learn more about coins and their history, as well as the value of coins from different perspectives, head over to CoinCollectingSecrets101.com -- and don't forget to sign up for my free mini-course on the secrets of collecting coins once you arrive there.
Source: ezinearticles.com

Collecting Greek, Roman, And Other Old Coins

A Beginner's Guide to Collecting Inexpensive Old Coins

Collecting old coins is like holding a piece of history right in your hand. It is common to find affordable ancient Roman coins that are 1600 years old, and many are even 2000 years old or more. Imagine that the ancient Roman denarius in your collection might once have bought admission to the gladiator fights in the Coliseum or chariot races at the Circus Maximum. The best thing about collecting old coins is that, unlike other antiquities, ancient coins are remarkably affordable. Because so many ancient coins have been discovered, and more are being unearthed every day, it is possible to buy millennia-old coins for only a few dollars apiece. For less than the cost of a movie ticket, you could own a link to olden times.

Things You Should Look For While Buying Old Coins

Unless you are looking to spend some serious money on your collection, the old coins that you buy will probably not be extremely valuable as an investment. However, that should not undermine the thrill of being able to own a genuine aged coin on a shoestring budget. There are numerous places, both online and off, that sell inexpensive old coins. The important thing to look for when buying these ancient coins is that the coin is identifiable. It is disappointing to buy an aged coin, only to realize that there is no way of telling what it actually is. The best way to ensure that an ancient coin is identifiable is to be certain that the writing and inscriptions on it are legible.

Buying Uncleaned Lots of Old Coins

Of course, there is another bargain option when buying ancient coins, and that is to buy a lot of uncleaned coins. These are old coins that have been unearthed in archaeologically rich areas like Italy or Greece, but have not had the dirt and buildup of the centuries cleaned from them. Uncleaned lots of elderly coins are exciting because you never know if the coins will be so worn that there is nothing left but a smooth piece of metal, or whether you will uncover a genuine rare coin. You should be aware, however, that the likelihood of finding a high-value gold or silver coin among uncleaned lots is extremely slim. Furthermore, the reason why uncleaned lots are sold to begin with is that cleaning old coins is a difficult endeavor in the best of circumstances. Removing large amounts of dirt and debris from ancient coins carries the risk of spoiling the coin.

How to Store Old Coins

Elderly coins, like elderly people, require tender handling. It is important to remember that one of the vital factors regarding the value of an old-time coin is the patina, or the sheen that builds up on the surface of a coin over time. The last thing you want to do is to polish an ancient silver coin so that it is bright and shining! When dealing with old coins, you should only hold them by the edges, since the oil on your hands can ruin the patina. Do not attempt to clean old coins on your own without learning a lot about the proper techniques. Only a veteran should attempt to clean a potentially valuable aged coin.

When storing old coins, always use acid-free materials; any other kind of storage could damage the coin. You'll need a safe place to keep your ancient coins. Some options include mylar flips, acid-free plastic sheets that go into three-ring binders, and even special collector's cases, if you want a particularly elegant look for your collection.

Source: thisoldhippie.com

Professional Coin Dealers - Great Advantages Of Dealing With Them

People of all ages can enjoy the hobby of coin collection. Different people may have different aims and purposes behind coin collection. They may collect coins purely as hobby or they may be hoping to have a valuable collection of coins sometime in the future. Whatever your reasons may be behind collecting coins, one thing is sure -- you would want to see your collection growing. To achieve that goal you need to know about the good and reliable sources of coins. Here you will find information that will help you deal with professional dealers.

These coin dealers differ from others in that they are coin experts and they buy and sell coins, although anybody can start dealing in coins. Most of the professional coin dealers collect coins by buying them, and of course sell them as well, but more importantly they also do systematic research on coins. One important part of their research is evaluating coins using the Sheldon System -- in this system, coins are evaluated and rated on a scale ranging from 1 to 70. The lowest number 1 is given to a coin which is barely identifiable.

One very good reason why beginner coin collectors are advised to go to the professional coin dealers is, they have good deal of knowledge about coins and coin collection. Although you will always like to be careful while you are trying to buy coins from any source, you will be rather safe if the opposite party is some professional dealer. Generally the professional coin dealers don't price a coin arbitrarily on their own, they first do proper research before putting a price tag on it. While some rare coins or those in short supply may be marked higher in price, but normally you can expect reasonable pricing.

Depending on your convenience you can decide how you would select the coin dealers for doing business. If you are among those coin collectors who want to look at the coins themselves personally before taking a decision about buying it, then dealing with the local coin dealers will be suitable for you. You can find local dealers either bylooking into local telephone directory or from the Internet. Another likely places are the local hobby stores, they are frequently coin dealers too. Even if they are not they can still put you on the right track. You can also find coin dealers in coin collectors' conventions and meetings, etc.

The other good source of coin dealers is among those who deal online at the Internet. Some may operate both offline as well as online. They can be located through the usual search on Internet. For precise and more focused results, you can search using phrases like "coin dealers", "coin collecting dealers", "professional coin dealers", "buy coins online", etc

To summarize, you as a coin collector have several sources from where you can add coins to your collection. You can buy from loacl coin dealers, you can aslo buy online if you wish. If you are amongst those collectors who are aiming for a coin collection which is potentially profitable, you have all the more reason to particularly turn to the professional coin dealers. What makes professional dealer different from others is their degree of reliability.
Source: articlesbase.com

How To Clean Your Coins

It seems that different coin collectors have different ideas about the best way to go about cleaning your coin collection. But many of the basic principles seem to come up time and time again.

The single most important element is universal; whatever you do avoid damaging your coins. Coins have usually been handled before, the older the coin the more handling it has endured. So you already are faced with some wear and tear of the coins through time and handling, such as the basic elements of scratches, corrosion and simply by the coin being exposed to air. Whatever you do, do not make it worse once they are under your care.

Also you must decide the best time to clean a coin, if it has signs of corrosion or may have been exposed to chemicals then by all means you must clean it, but clean it very gently. Your coins do not need to be sparkling and look like new just make sure they are clean and not further exposed to harmful elements. Like the corrosion on a penny that shows up green, you will definitely want to clean that.

What you use to clean your coins with will depend on what you are trying to remove from the coin. There are many common, household substances that can do the job very well and safely.

Even your hands can have an effect on your coin so make sure when you start the job of cleaning them that you wash your hands properly before getting started and have a clean area to work in. It's very important to remember to try anything you use on a regular coin first so that you can judge the reaction.

Dishwashing liquid is a common cleaner used for cleaning dirt and grime from coins, you can soak the coins for a short time and also directly apply the liquid to the surface if they are particularly dirty. Just use a little and rub the coin gently, one at a time.

Another popular and effective cleaner is lemon juice, especially good for removing oil that usually layers on the coin from human handling. Oil can also serve as an effective defense against the air and oxidation. Soaking the coin for a short length of time usually does the trick.

Air drying is best but very soft material can be used as well. Material that is cotton or the clothes that are provided for cleaning eyeglasses are recommended. You also do not want to rub the coin too much. Remember to be very gentle!

The very best way to learn how to clean and handle your coin collection is to contact a coin dealer. Sometimes over cleaning and removing the coins natural wear and tear as well as removing tarnish can actually be detrimental to the coins value. It may look much more appealing but actually lower the value of your collection. It's best to be more safe than sorry, so when in doubt consult with a dealer.

Source: thisoldhippie.com

Coin Collecting- Tips For Beginners

Are you interested in pursuing the hobby of coin collecting? If so, then you are not the only one. There are many reasons as to why coin collecting is such a popular hobby and one is because it is not a very easy task. So, if you wish to make your own collection of coins as a hobby or if you wish to do so in order to reap profits at a later date, there are many factors that you must keep in mind.

Research is the foremost factor that you should take into consideration while coin collecting. There is no end to the amount of research you can do and you can never do enough research. The most successful collectors of coins in the world are the people who took the time out to research and explore the entire arena of coin collection. The different subjects related to coin collecting that you should research on include types of coins, history of coins, recommended supplies for coin collection, coin values and more.

If you are a beginner, the best thing for you to do is collect as many coins as you possibly can. Try saving all the coins that you come across so that you can examine them in detail later on. This approach works for most beginners as many of them are not aware of the value of their coins, especially if the coin has not been examined thoroughly. While following this method, it will not take a long time to develop a rather large collection of such coins. At this point, all coin collectors should conduct an examination of their coins and separate out the valuable ones from the others. From this point, with some experience, coin collectors should slowly change their collecting habits.

Once a sufficiently large collection has been gathered, with the first set of coins closely examined and sorted, the important thing to consider is storage. Unfortunately, there are many beginners who commit big mistakes while storing their coins. Many collectors simply put their coins into a box or jar. Although such a casing is enough for storage of coins, it can also result in irreparable damage. If you own coins that are rare or high in value, chances are their value will increase with time, and so it is important to take proper care of them. Normally, it is not recommended to store coins in coin holders for a long time. They are alright for display but should not be used for storing. For storage, it is best to use a coin album or a coin folder.

Another important factor for developing a coin collection is knowing what you are buying. Whether you are collecting as a hobbyists for as an investment, it is always good to have enough information regarding your purchase. All coin collectors wish to gather valuable or rare coins and the only way to get your hands on such coins is through purchase. Almost all professional coin dealers will have a good understanding and view of the worth of their coins. Therefore, there is not much danger of scamming, although it is always better to examine the value and condition of a coin before making any decision. If a coin costs more than twenty dollars, research it.

Apart from coin dealers, the internet is a viable source from which to purchase coins, especially through auction websites. If you are a beginner, you could not ask for a better facility. You will be surprised by what you find. There are a number of renowned coin collectors who sold their entire collection online. As stated before, caution is of utmost necessity while purchasing. There are many people who, unlike dealers, do not know the full value of the coin they are selling. This could result in the over estimation of the worth of a coin. If you have not done enough research and do not have sufficient information, you could end up paying more than you should.
Source: articlesbase.com