Posts Tagged ‘collecting’

Coin Collecting Craze: The Basics

Thursday, March 27th, 2008

Numismatics is defined as the collection and study of coins, paper money, tokens and medals. These items are usually collected for many reasons, including historical significance, artistic merits and their roles in commerce. When the demand for these items increase, their numismatic value goes beyond their current monetary value. One very popular example of numismatics is coin collecting. There are so called specializations in coin collecting, depending on the budget of the collector. One of the most popular types of coin collecting is for world coins or coins from several countries. A collector may also decide to collect a series. The goal of a series collector is to own one of each date and mintmark made. Some collectors go for types of coins. A collector building a type aims to have one of each series and major design variation within each series. Others collect ancient coinage, sometimes on themes covering the Twelve Caesars, the goddess Diana, or the town of Carthage. Still others, those interested in local history and are fond of research, collect tokens, tickets, tallies and checks. The coins in the collection must be physically examined in order to determine their grade, authenticity, and the presence or absence of problems before a value is being made. Usually, several factors are considered in establishing a fair price for collected coin. Identification of a coin is determined by the country of issuance, date and mintmark, design, and face value. An expert opinion may be needed in order to ensure that the coin is not counterfeit or has not been altered. Next, the grade of the coin determines its overall condition. In general, collectors prefer coins which have not been altered by cleaning or polishing. Most collectors believe that coins are better off when they are not cleaned. Cleaning or making the coins shiny only damages the surface of the coins and takes away their shine and value. However, if there is really a need to clean the coins, you must avoid using a brush. Use a very soft cloth and mild soap instead. You may also use paste made from baking soda and water. Avoid rubbing the coin. Lastly, handling or holding the coins must be done as little as possible. To store the coins, keep them in albums, coin boards, boxes and envelopes. Do not use a loose bag or box. The coins may bump and scratch each other. Keep the coins in a cool dry place. Occasionally, you may want to proudly display your collection to friends and family.