Coin Collecting: Are You a Coin Collector?

Last Updated on February 5, 2020 by sltv

Coin collecting is a fascinating hobby that has hooked millions of people throughout the country. People enjoy the artistic value and perhaps rarity of minted coins, and pay a premium over their value as bullion for the right of ownership and display. This hobby has been going on since the days of Ancient Rome and maybe earlier. During the Renaissance, elite collectors would keep fabulous collections of ancient coins – at that time, it was called the “hobby of kings”. Today, anyone can participate, even a young child who wants to start a penny collection.

There are various reasons why people decide to participate in coin collecting:

  • It’s a fun hobby. People just like to collect pretty or interesting coins and share them with friends and family.
  • In can be a good investment. The prices of coins are not well-correlated with the stock market, so coins make an excellent portfolio diversification. Individual coin prices are buffeted by supply and demand. A savvy collector can accumulate out-of-favor coins and hold them until they become popular again, reaping a nifty profit. Of course, there is no return on coins for the time you hold them.
  • Short-term speculation is another motivation. Instead of buying and holding coins for the long term, speculators closely follow price movements and try to buy a particular type of coin in bulk and hope demand spikes because of an upcoming event. Speculators may buy large amounts of newly minted coins and sell them over the course of a few months while they are still “hot”.
  • They are an excellent inheritance. Many valuable collections are handed down to the next generation when a collector dies. The inheritor can continue to collect coins or can sell the collection for cash.

Coin collectors tend to specialize after starting off as general collectors. They develop a focus on a particular type of coin, according to various characteristics, including:

  • Geography: Coin collectors may collect the coins of one country or region.
  • Period: You may find coins of a certain age or historic period particularly interesting.
  • Errors: Many collectors look for coins that have mint errors.
  • Completion: Often, a collector seeks coins to complete a particular collection, such as all U.S. commemoratives. pays top dollar for lists of coin collectors. Why not compile a list of people you know who share your hobby? We pay for each lead that is new to us and is not on a Do Not Call list. With the money we pay you, you can go buy more coins!