Coin Collecting Can Be Affordable!

You may have read or heard the common remark that while coin collecting used to be the “hobby of kings,” it is now the “king of hobbies.” This is quite true. You can have a meager or massive budget for collecting, but it doesn’t really matter. Sometimes you’ll find that you aren’t spending much or anything on coins, but instead you’re just reading about them. There’s so much to learn about coins, areas to master, history to explore, that it’s easy to see why there’s a strong following behind this hobby.

Here are some ideas for the frugal collector:

-      

            - Bank roll hunting: Go to your local bank and search through coins. If you find a collectible coin worth keeping—an error, old denomination, or proof coin perhaps—then all you pay is face value for it.

-      

             - Flea markets: You can spot great deals if you’re knowledgeable. Since the hobby covers so much, sometimes you will run into coins that you’re unfamiliar with. I would suggest to use caution in these cases and only make a purchase if it’s under 20 or 30 dollars. Better yet, bring your phone and do a quick google or ebay search of the coin to see what it’s worth. A Redbook price guide is also nice to have while out treasure hunting.

-      

              - Study: Become more informed about some area of numismatics and then cherrypick people selling coins that you know more about. Become an expert!

-       

              - Ebay: I regularly look on ebay for “ending soonest” coin auctions and I also occasionally check “newly listed” coins under the “buy it now” option. You never know what’s up for sale on ebay.

These are some of my ideas. Let me know if you have any other ideas! I would like to add that not only is coin collecting affordable, you can make a profit from engaging in the hobby! Most if not all of my collection was acquired with money I made from selling coins. Some people do even better and make a living selling coins! 

Thoughts on Teaching and Numismatics

While you can find lesson ideas for the subject of numismatics online elsewhere (e.g., try the American Numismatic Association's (ANA) website), I want to throw out a few things I'm doing and discuss the importance of education. Education is a huge part of the ANA, by the way, but so much can be done by us rank-and-file hobbyists to increase interest. 

I've read about non-professional educators (i.e., non-certified teachers, layman, etc.) who visit schools to teach kids about some area of coin collecting. It doesn't take any specific skills or knowledge to spread knowledge you're passionate about, but it would definitely help if you put a lot of thought into the presentation. With teaching, I've found that the more planning that is done, the more smoothly it goes. Think everything through, try to engage people, and most of all make it fun! 

We all talk with someone or a few people from time to time about coins and our interests, but in the teacher-student setting the information is more top-down, and directed towards one way. The instructor's enthusiasm is key, but also be mindful that some of the excitement is self-generated in the students. In other words, the subject will likely be interesting to them regardless of its delivery. So I try to include a lot of details and practical information to students, and some will stick with them, some wont. Just focus on what you want them to know, and most likely your enthusiasm will shine through everything because of your devotion to the hobby. 

A very dedicated enthusiast, of any field, wants to give back and get others involved in the same thing. This is a common notion you'll probably hear in conversations with numismatic educators. I also think they--or should I say, we--try to educate others, in any way possible, about numismatics because this might lead to more involvement, excitement, more demand, and of course stronger returns on our precious coin and related investments. I believe this fiduciary element is a part of educating others about the hobby. Besides the sheer joy of involving oneself in the hobby, it's hard to grow as a collector without considering investment potential, money wasted, short-term profits, and other financial aspects.  We are after all dealing with money!

Anyhow, I've done a few short activities with small classes of primary school students. For instance, today I introduced them to circulating coinage from Great Britain and the European Union. Before they completed a instructional paragraph or two about a hobby of their own, I told them about my coin collecting interest and let them hold several coins. It helped having an atlas because the students mostly had no idea where England and Europe are. Hands-on activities are useful in instruction, especially with coins that are meant to be circulated, because they engage people and more sense stimulation helps with learning new things. Coins are the perfect visual aides when talking about ways to collect coins, historical events, etc., as well. 

I am planning on carrying out some classes at the community level for the city of Irvine in February. I have completed a lengthy outline for the two-hour class, which will be completed after two consecutive Sundays. There is so much I want to cover for this introductory class on coin collecting. However, I will focus on three areas: collecting/organizing coins, buying, and selling. There is much to consider among these three areas, so I have to figure out what to emphasize, trim, and omit in order to leave the student with the inspiration and confidence to go about their own collecting ways. I may not be an expert with all the answers, but perhaps I can get others started on this endeavor. The world of coin collecting awaits....