Introduction - The old saying goes, “Money makes the world go ‘round. ” We use it every day. We can’t acquire many necessary item needed in daily life without it. We almost always want more of it, but for coin collectors, money is much more than a piece of metal. It’s a hobby, a learning experience, and can be a lifelong obsession. There really are no hard statistics on the amount of people who collect coins in the world.

Fun Facts - There are approximately $8 billion worth of coins circulating in the U. S. today. In the past 30 years, the U. S. Mint, who is responsible for designing and producing the nation’s coins, has minted over 300 billion coins, worth about $15 billion! Since its creation in 1792, the U. S. Mint has grown into a large enterprise with more than $1 billion in annual revenues and 2,200 employees.

Glossary - As is the case with most hobbies, coin collecting has its own specialized terms or "lingo". The following, while not an exhaustive list of all the coin collecting terms that you may encounter, provides definitions for the most commonly used terms.
Alloy
a combination of two or more metals in a coin such as cupro-nickel or cupro-zinc.

Beginning - There are few people who do not have at least the beginning of a coin collection. Many of us own at least one or more "good luck coins", a large penny, an old Indian nickel or silver dollar, a medal or a souvenir token. Any one of these items has often led to the start of a large coin collection and a new hobby. Acquiring a coin collection of scope, interest and value takes some time and effort.  

Collect What - What to collect is entirely up to the collector. It will normally be a specialization that holds some interest for the collector and is within his or her budget. Among the most popular types of collections are world coins (coins from several countries), ancient coins, and coins of a particular country. Some specialization within these categories is ordinarily helpful.

Storage - Boxes, jars and bags may be used to store less valuable coins but are not generally adequate for more valuable coins.  There are specially made coin envelops made from acid free paper that hold a single individual coin provide a suitable and cheap storage method for most coins. Plastic re-sealable bags or "flips" is a good storage choice because they let you see the coin without removing it from the cover.

Tools - Luckily, there’s not much you really need in order to collect coins – aside from the coins, of course. Because you might be handling valuable coins, you should have a few specific items to protect their integrity. Obviously, it will depend on the material being collected and its value as far as what you need to have in order to start out. The very minimum that you will need is a magnifying glass to pick out detail on your coins.

Amassing - As we’ve said before, the easiest way to start collecting coins is to focus on those coins that are still in circulation. This is probably the easiest way of obtaining coins since we use them every day. We’ve outlined some ways you can use in-circulation coins to start your collection. You may, however, want to branch out into out of circulation coins. If that’s the case, finding them requires a little more work. But don’t worry – the sources are out there!

Handling - If your coins are still in circulation, they probably aren’t extremely valuable, but that doesn’t mean you can handle them just any old way. You do, however, have to take special precautions when handling more valuable coins. In general, collectible coins should be handled carefully to avoid the possibility of causing wear or introducing substances that may lead to spots or color changes.

Cleaning - In most cases, you SHOULD NOT CLEAN COINS. While you might think they'll look nicer if they are shiny, collectors prefer coins with an originalappearance. Cleaning a coin may reduce its collector value by half or more. Cleaning coins is similar to restoring works of art - they're both jobs best left to professionals who have the knowledge and experience to know when it's advisable, what techniques will work best and how to use them properly.

Grading - Coin grading is a term used to refer to the process of determining the condition or quality of a coin. It is essential to know what the grade of a particular coin is, because, as a general matter, the higher the grade of a coin, the higher its numismatic value. Coins are most often graded these days on a 0-70 point scale devised many years ago by Dr William Shelby and documented at some length in the "Official ANA Grading Standards for United States Coins" published by the American Numismatic Association.

Valuing - Obviously, a coin will never be worth less than its face value. A one-cent coin will never be worth less than a penny; however it could be worth much more!  You may want to remember that even if a coin isn’t especially valuable, that doesn’t mean it doesn’t have a place in your collection. As with anything, often value increases over time, so keep that in mind as well.

Pricing - This isn’t always an easy question to answer since a coin’s value can be subjective. In general, like anything else, a coin is "worth" what someone is willing to pay for it. There are some factors that potential buyers will take into consideration when deciding how much to pay for a coin. Some of this information may be repetitive, but if you want to know how much you can expect to receive when you sell your coins, it’s valuable information that you’ll need to know.

Requested - Most dated 1940 or later are purchased by dealers for less than 2 cents each. Some of the earlier dates are worth more (a few cents to several dollars), and checking a price guide is a good idea if you have them. The current design replaced the wheat stalk reverse in 1959, and this is also the dividing line between normal pennies and those worth more than a cent. A handful of the wheat pennies are quite scarce and command large sums of money.

Expensive - The most prominent of these, the 1804 Silver Dollar, is known as the King of Coins. Only 15 examples exist today, and it is considered a very beautiful coin as well. There are few coins as rare that are also as popular, and that combined with the fact that most of the surviving specimens are in very good condition makes them probably the most desirable coin in the world.

Kids - The hobby of coin collecting requires very little skill at all. All that is really needed is an interest in coins!  Wow, I’m Captain Obvious!  At any rate, there are many things to be learned just from holding the coins and taking care of them. Many kids start by picking up a coin they have never seen before and continue collecting.

Child’s Play - Coin collecting isn’t always for everyone. It takes patience, time, and an interest before the seed can even be planted. However, showing your own love for the hobby is probably the first step toward getting young people involved in this hobby. My great-grandfather, grandfather, and father were/are all avid stamp collectors. When I was 10 years old, my father gave me my first stamp album and some starter stamps.

Conclusion - People collect all sorts of things for all sorts of reasons. Some of us aren’t the least bit interested in amassing a salt and pepper shaker collection that takes up a whole room. However, some of us can’t understand why people just don’t see the beauty in Batman paraphernalia. The point of collecting something is to spark interest and learn more about something you’re passionate about.

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