Monday, December 2, 2013

Why Collect Coins?

Many people may view coins only as small pieces of metal used to buy things. And in some sense, this view is accurate. However, such an observation overlooks history or the production and use of coinage over time. For instance, it is one thing to read about the Civil War; it is an entirely different thing to hold a two-cent coin minted in this period and wonder how it ever got to you. Or consider owning a cent re-struck from the original dies of an 1861 Confederate Cent (12 were first struck, so they are very rare and expensive; in 1873 75 were re-struck; in 1961 thousands were re-struck from broken dies, aka Bashlow re-strikes). Coins are tangible pieces of our past. Thankfully, many coins from the past exist today in collectible condition because of careful treatment, or they may have sat undisturbed for long periods of time by accident.

People today marvel at both historic and more recent coins for a plethora of reasons. Coins are often quite small, but their artistic designs are usually well thought-out and implemented. In the United States, some of our coins like the Mercury dime (aka Liberty Head dime), Walking Liberty half dollar, or Saint-Guadens gold coin are thought by many to be the best looking coins in all of history. But unfortunately, you probably won't learn about these pieces in an art history class.

Besides artistic merits, collectors also prize the unique aging characteristics of coins. If coins were not abrasively cleaned in the past, they tone gradually and can take on many pleasing qualities like blue, purple, or rainbow toning. With proper care, coins can also retain much or just about all of their original color through long periods of time. Some collectors favor toned coins, while others may prefer a brilliant, blast-white effect that is seen on untoned coins (usually from quick, restorative dipping).

Collectors ideally take great pleasure from their coins, studying, organizing and so on. But it seems that hobbyists also eventually learn how to make better purchases and sales. Buying and selling coins is key in the hobby, and much joy can be derived from this aspect. Most people have to temper their interests and make smart buys because their funds are limited, so treasure hunting or searching for bargains is typical. Often you will find that you get less for coins you sell than what you paid for them, but you can always learn to be a better investor--it just takes a little hard work. With some specific and general knowledge, you can spot bargains and make profit in the hobby, as many people do.

Coin collecting is an interesting and fulfilling hobby. You can dwell on the small collection you have, investigating the origins and history of a coin. You can try to increase your collection by smart buying and selling, or even deal in coins to make a living. I suggest one thing: have fun! Do what makes you happy and see where that leads you.