Getting Started Collecting World Coins

Coin collectors frequently advise potential customers to buy the book before the coin

. This is essential advice for the new collector as well as the seasoned one. A collector armed with several comprehensive guidebooks will be on the alert for valuable items in the area of his chosen interest. Pertinent guidebooks state values based on year minted and current condition. Books, discussion groups, collecting magazines and dealers can guide the new collector in learning how to judge the condition and value. Obviously, the better the coin's condition, the more valuable it is. It is not necessary to have the latest edition of guidebooks unless the collector is buying recently minted versions or frequently selling parts of his collection. An older version can be quite useful in determining relative values, as a coin that was rare ten years ago will generally still be rare today. Online auctions and bookstores often have older collecting guides at bargain prices.

Those just beginning in the hobby will want to narrow their area of interest to one region, one time period, or one material. Perhaps a collection could be built of all Asian, European or US coins, from early hand stamped Persian ones to modern commemoratives. Another collector may build a collection of all 19th or 18th century coins. History buffs frequently have a collection of coins from time periods they are particularly interested in. Ancient Roman and Greek coins are a favorite with collectors. Guidebooks are essential when collecting these, as counterfeits are common. Exclusively buying silver or gold world coins can build an investment collection. Although silver and gold values change daily, the value of the coin is based first on its rarity and condition, then on minor fluctuations in the price of the precious metal from which it is minted.

Many serious collectors began with a handful of world coins acquired as children. Once the fascination with exotic history begins, it becomes the basis for a more significant hobby. One reason for collecting world coins, as opposed to United States, is the allure of ones minted around the globe. They can be found at coin shops, flea markets, coin shows, antique stores, and online auctions. The savvy collector uses current value information to search online auctions, always watching for a bargain that others may not know exist. Caution should always be used when bidding online. Look for experienced dealers who are experts in their field.

Starting a world coin collection can lead to a lifetime hobby, both rewarding and fascinating. Becoming an informed collector may turn the hobby into a lucrative investment.

by: Christine Harrell

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