Introduction to Coin Collecting

If you’ve ever sifted through old coins at an antique market, or rejoiced over finding of a wheat penny in your loose change, coin collecting could be the hobby for you. You’re also not alone; coins, along with stamps and baseball cards, are the most popular collection item for American hobbyists of all ages.

 

Coin collecting is both fun and easy to start; you have literally billions of coins from which to choose for your collection. In addition, coin collecting can be an historical and cultural experience. For centuries, nations around the world have used coins as currency or commemorative items, so coins are both a piece of history and a way to learn about history. Imagine holding a coin that was last used by a citizen of the Roman Empire or that was common during the American Civil War.

 

Many coin collectors refer to themselves as numismatists, and the term numismatics refers to the study of coins, currency, and medals. If you are a burgeoning numismatist, you’ll likely come across some of these common coin-collecting words and phrases:

·        Alloy: The combination of multiple metals in a single coin

·        Circulated Coin: A coin that has been used in circulation (the opposite is an uncirculated coin)

·        Commemorative Coin: A coin that was minted to honor a specific person or event

·        Grade: The overall quality of a coin

·        Error Coin: A coin with a minted mistake, such as a missing detail

·        Proof Coin: Display (rather than circulation) coins that are minted with high-quality methods to provide a lustrous finish

·        Obverse/Reverse: Better known as heads and tails

·        Mint Mark: A small detail identifying the specific mint where the coin was made

 

For the most part, these terms apply to all coins, regardless of where or when the coin first appeared. Some collectors look for coins from ancient civilizations, such as the Roman Empire, while other collectors focus on relatively common American coins, such as wheat pennies, buffalo nickels, and state quarters. Whatever coins you choose to collect, you will quickly develop an eye to recognize even the smallest differences between those coins.