How To Start A Coin Collecting Hobby: 4 Steps To Get You Started

You've seen them - the guy on the side of the road with a cardboard sign and a metal detector telling you about his new hobby, coin collecting. Except like my father in law not all coin collectors are out there doing that. My FIL was an online coin collector and he was proud of his collection.

However, he probably wasn't making any money because he was doing it as a hobby not for profit purposes.

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Coin collecting is a fantastic hobby that can be very lucrative if done correctly.

So, this blog post will give you four steps to get started in your coin-collecting venture so that you don't make those same mistakes!

Know Your Mint Lingo

If you want to be a numismatist, you must know mint lingo can be confusing, but it’s not that complicated. When you say a coin has ‘mint luster,’ this means the coin has been in production for some time with no signs of wear and tear. The word "uncirculated" refers to any type of silver or gold bullion from 1887 onwards. This means the coin has never been in circulation and will have a shiny, mirror-like appearance.

Knowing your mint lingo will help you collect coins as a hobby since it will make it easier to identify coins.

Define Your Collection Type

Do you want a collection of all the different types of coins? Would you rather focus on just one type like gold, silver, or copper? Maybe your collections will be based on the year they were minted, which makes sense for older coin collectors with an extensive set.

So, what does this mean for you? Well, it means that your collection will make sense to you and have meaning. One of the most important things when starting a new hobby is defining what type of collector you will be. This also helps narrow down which kind of coins should populate your starter kit!

If all types interest you, consider an album, some albums come with spots for all kinds of coins. The most popular album is the Whitman Redbook which has a hardcover and comes in three different sizes to accommodate any collector's needs.

If you're looking for something more specific, then there are many options available that specialize in certain types- Australian Coins, British Coinage or World Coins.

If you're looking for an album specifically tailored to your needs and has space for all the types of coins, consider the Whitman Redbook Deluxe Edition, which includes spots for the world, US & colonial coinage, and a spot for medals or tokens.

The most important thing when starting a new hobby is defining what type of collector you are going to be. This helps narrow down which kind of coins should populate your starter kit!

Get Yourself a Toolkit

Start coin collecting as a hobby with tools. A good coin toolkit will help you set up a cabinet or desk for your collection. Collecting coins may sound simple, but it requires some level of knowledge about coin collecting, such as the quality and value of various coins.

A good toolkit includes:

A magnifying glass with light to see small details on the coins.
An ultraviolet (UV) light for detecting numismatic markings on coins.
A set of coin scales to weigh your collections by denomination.
Tweezers to pick up and examine coins in detail.
A small container with a metal lid or wax paper (to store valuable coins).
Nylon brush, soft cloth, cotton gloves, and hand sanitizer.
A small scale to measure the weight of coins, a soft brush, a magnifying lens, and tissue paper (to clean coins).

Handle Your Coins With Care

You should treat your coins as valuable objects and handle them carefully. Hold a coin in the palm of your hand with your fingers wrapped around it for support, not on its edges or face.

Do not use anything metal to clean a coin. Acids from these items will quickly damage any surface they come into contact with, including the skin.

The best way to clean coins is with a cloth or paper towel and gentle, warm soapy water. Dirt from the coin will stick to your wetted surface while you gently rub it away. Gently dab off any remaining moisture on your coin by patting lightly with a dry, soft rag until all of the moisture has evaporated.

The most important thing you can do to maintain the condition of your coins is to store them in a cool, dry place. Avoid storing coins in plastic bags or wallets, which may trap moisture and humidity against their surfaces.

Conclusion

This article is a guide to get you started in coin collecting. Coin collectors are always on the lookout for new items to add to their collections, so there is no shortage of information or resources available online.

With these steps taken care of, hopefully it will not be long before your collection becomes worth showing off to the world.

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It always makes me happy that you're here and hope that these ideas inspire you.

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