What Does Coin Collecting Teach?

One of the greatest things about coin collection is that is serves as nexus for many types of information

. It can serve as a stepping stone to learn about monetary policy and money, metallurgy, geology, history, geography and social science. It's also teaches more general life skills like organization, stick-to-itiveness, and responsibility. It's really is a great hobby for young people to pick up.

You can learn a lot about American history by following the money as it were. The term buck dates back to the settler times and is short for buckskins. People use to pay a given number of bucks or buck skins for provisions and the term stuck. The term dollar comes from a mixture of terms for Spanish and Dutch money. Before American started minting its own currency people would use other country's coins. They were usually valued by size and preciousness of metal. Since people were already using the term dollar to refer to the oddball assortment of coinage that was money at the time Thomas Jefferson though "Why not just call it the America dollar?" The term stuck, as you are probably aware. Those are only two of the fascinating anecdotes, there are many, about American history and money. Years later we have quarter dollars, state quarters, presidential dollars and all sort of historically significant money.

Many countries, the US and Canada included, are getting to the point where some of the coins they make are not worth their cost (pennies and nickels cost more than 1 and 5 cents to make, respectively). This had happened in other nations too. Many countries are debating going to a coinless and even printed currency free electronic money systems. Another interesting fact is that some people believe that in some historical instances when coins become less valuable than they cost to make people smuggle them out of the countries of origin to melt them down for metal. It's a zany theory but it's generally believed to have happened.

As you can see the world of coin collecting is full of hilarious, poignant and informative facts. To get a young person started collecting coins and knowledge get them so coin collecting supplies, books on coin collecting, or a coin set. Try to gear it towards their existing interest. If they like science get them some silver eagle coins and have them learn about silver. If they like nature get them some national park quarters. There are coins for all interests!

by: Mark Etinger

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