How to Decide what Coins to Collect

What coins should you collect? Whatever appeals to you! There are no set rules for coin collecting but you may wish to specialize. Here are some ways to do so.

Collect by Country: Collect coins of a specific country or group of countries.

Collect by Type or Series: A collector by type or series aims to acquire one of each type or series of coins, for example, U.S. gold eagles or Lincoln pennies.

Collect by Time Period: Many specialize in collecting ancient coins or coins from a specific period in history, for example, U.S. colonial coins.

Collect by Metal: You may wish to concentrate on coins made of a particular metal such as gold or silver coins.

Collect by Theme: Consider collecting coins with a particular theme such as coins with animal designs, boat designs or various commemorative coins such as Olympic coins.

Collect Errors: Some collectors focus on coins issued with some error in the coin's design, composition, date or inscription.

Collect Medals & Tokens: Another specialty is the collection of non-monetary 'coins' such as war medals and commemorative tokens.

Many numismatists start with collecting coins from their own country because of easy availability. Every date, mint mark, and variation in design is counted as a different coin. A typical beginner method is to acquire one of each piece within a series; then a collector may continually attempt to find better quality specimens of the coins already acquired. The number of collectable coins found in circulation has become very limited, so a collector must usually resort to trading or buying to complete or upgrade a top-condition modern series.

Another popular form of collecting is to assemble a type set of coins from a specific country. The word type refers to a classification of coins by their metal, denomination, nationality, and principal designs. For example, instead of acquiring a specimen of every date and mint from a series of dimes, the collector obtains a single coin to represent this series. Every coin is distinct and has its own history in this kind of collection.

Many collectors prefer topical or thematic collecting. The coins are related to one another on the basis of their design or because of the people or objects shown. Animals, plants, ships, maps, buildings, and religious motifs are well represented on coins. Some topical collections can be difficult to assemble. A British Commonwealth set that includes one of each type portraying Queen Elizabeth II would encompass hundreds of coins and probably take many years to acquire.

Some mints have bolstered coin collecting through various programs and efforts over the years, such as special commemorative issues, collectable sets, and by altering the designs of regular-circulation coins. One initiative of the United States Mint is the 50 State Quarters Program, which began in 1999. Under this program, the mint issues five new state quarters each year for ten years—each coin featuring a special design that recalls something from that state’s history or heritage. The effort has been very successful, attracting many new collectors, especially children.