collecting is one of the most prevalent and widespread collecting hobbies
in existence. The hobby of coin collection is very old, and perhaps
one of the only hobbies that can make you rich (however, the probability
is very small).
collect coins for a wide variety of reasons. Some collect coins for
the aesthetic appeal of different coins, and their engraving artwork
or shiny appearance. But at the same time, many collect coins for investment
purposes. Coin collecting hobbyists always feel that coins have long
shelf lives, and a very low chance of depreciation. It is not possible
to see so many collectibles that are many hundreds of years old.
other markets, the coin collector market also underwent major changes
in recent years. 30 or 40 years back, the coin collection market was
in the hands of professionals and dealers or resellers, who also controlled
the values of coins. Today the scenario has changed; now investors and
enthusiasts have taken over the market of coin collection.
auctions have also played an important role in snatching the control
of the coin collector market. Now it is not necessary to know details
of a coin in order to cultivate the hobby of coin collecting. The only
thing that is important to know is that the grading of coin is done
according to the appearance of coin.
older days, there were special shops in which you could find different
types of coins. If you wanted to buy or sell coins then you had to visit
these shops. But now you will find coins everywhere. The easiest way
to find lots of coin is hunting all over the place for hidden treasures.
I don’t mean digging your backyard (although it is good exercise); I
mean looking in places that you wouldn’t expect, like your grandpa’s
change jar. Before looking for the coins you must acquire the knowledge
of the appearance of coins.
closely at the condition of the coin, since this is the main factor
along with other minor points that determines the prices of coin. There
are basically two categories of coins.
circulated coin: These types of coin have many marks, and some time
it is very difficult to even see the figure or text. The circulated
coin category is further divided in to eleven different grades. These
grades show how much the coin has been worn out. The dents or scratches
on coins were always ignored. The grades of circulated coins range
from AG-3 (heavily worn) to AU-58 (the best rank that topped the scale
with very little wear). As a rule, the lower the grade the lower the
coin: This type of coin looks very new and fresh without any wearing
or marks. This category of coin is graded on the American Numismatic
Association scale from Mint State 60 to Mint State 70. The grades
of this type of coin are determined scientifically considering many
factors like shine, mint marks, casting quality, etc.
grading of coins is the major factor in determining the value of coins,
but there are other minor points that also affect the price of coin.
As with every other industry, the demand for a particular coin will
boost its value. The market price of a particular coin also affects
the value. The requirement from dealers may boost the coin price as
you want to get started with coin collecting, it is recommended that
you get in touch with a professional coin appraisal expert. If you can
look at the different quality levels, you will start to be able to recognize
what shape a coin is in almost instantly. This will help you immensely
when you are looking for coins to add to your collection. From there,
all you have to do is look for coins!