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!
