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The following article was published in our article directory on January 23, 2012.
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Tips on How To Start Collecting Coins

Article Category: Shopping

Author Name: chickie maxwell

Coin collecting is not only a hobby but also an investment. People do not only make it an investment for themselves, but also for their children and grandchildren. These coin collections are held and managed usually by the adult on the behalf of the child until the latter is mature enough to manage it on his or her own. Coin collections are also given as an inheritance.

Just like with other investments, coin collecting costs money. For the beginner, therefore, the budget allocated for it should be determined. One must also consider what final purpose the coin collection will ultimately serve. It may be an investment for the college education of a child, or simply a hobby. Alternately, it could also be considered a family heirloom that is passed down from one offspring to the next.

Coin collections can be started and maintained on a meager budget of fifty dollars per year. The usual coins within this price range include the U.S. Mint Sets and the Proof set. Uncirculated Coins sets are usually below twenty five dollars while Proof sets are less than forty dollars. A Silver Proof set may start at fifty dollars.

The Silver Eagle is a popular choice for investors as well. This is a type of coin set based on the price of silver, and it can be bought if the forecast for silver is favorable. Silver Eagle coins can be bought directly from the website of the U.S. Mint, or from a dealer of bullions and coins. Dealers typically have websites, and eBay can also be a good source. Proof coins are ideal heirlooms, while Silver Eagle coins are good purely for investment purposes.

The so-called bulk-mixed or unsearched coins are an interest for hobbyists. Coins of this type include Jefferson Nickels, the Indian Head Penny coin types, Buffalo Nickels, Mercury Dimes, and Roosevelt Dimes dated prior to 1965. Once the beginner collection has been established, then one can move on to more expensive coins ideal for investment.

Coin collections should be kept neatly in folders specifically made for coin collecting. This keeps them organized where they are easily perused, examined, appreciated, and enjoyed compared to just being unceremoniously kept in bulk in a bag or container. Remember that coin collecting is not simply a hobby; it is also an investment. As such, it must not be simply kept in the library where any casual visitor can simply whisk it away. Make sure it's secure. In fact, if the collection has become quite financially substantial, it may be advisable to keep them at a more secure location such as safety deposit boxes.

Actively maintained collections are good to keep at home, but subsets which are already complete or those which hold no current interest to the hobbyist can be taken to the safety deposit box at the bank. Remember that coins can be readily sold, so robbers are naturally attracted to them. Make sure that good practices in collection are established from the start to keep them safe and secure.

The hobby or investment can be made more interesting by interacting with coin dealers and other collectors. Coin clubs and organizations can also be approached. They will provide continuing education and amusement for the collector.

Keywords: coin collecting

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