Collecting coins for fun and profit

by D. L. Crane

Coin collecting is something that is a hobby for some, but is looked as as an investment by others. There are many who start collecting coins for fun and profit, and as such can be a hobby that will not only provide hours of enjoyment, but can also help put money in their pockets as well.

The common denominator of all coin collectors seems to be the fact that the coins they are collecting do present some value. This can be a time-consuming hobby, however, and that is why you will find that many coin collectors specialize in a specific area of coins. You may find that one collector has a collection of limited edition coins, while another may specialize in Statehood Quarters. Gold and silver coins seem to be a popular choice among many coin collectors.

No matter what kind of coin collecting someone is interested in, it may behoove them to investigate online auctions and other internet coin related websites rather than begin collecting through a dealer. Buying through a dealer, whether collecting for fun or profit, may not be able to present them as good of a deal as can be found somewhere online. While these professional coin dealers have some great knowledge about the coins they are selling, they also are involved in the industry to make a profit above all else. By searching for bargains through online auctions you may be able to find coins that can be bought at a fraction of what you would have to pay a professional dealer. This could be due to a number of reasons, including the fact that someone may just want to get rid of a collection they were given, or that they just don't have the time to build their collection anymore, and will be willing to accept much less than what the coins are said to be worth.

The experience of collecting coins for fun and profit can even be enhanced by coin collecting software that is now available. There is free software available that will provide checklists and pricing of coins, enabling you to keep track of any coins that are in your collection. There are also other software programs that can be purchased which can also give up to date values of coins. These can be very helpful whether you are a beginner or an experienced coin collector.

There are millions of people who have taken up coin collecting for fun and profit all across the world, with an estimated 125 million of them in the United States alone. Today's coin collectors range from young to old, and come from all walks of life. Rare coin collecting can provide a high range of profitability. The key thing to keep in mind is the longer you hold on to the coins, the more likely that they will become more valuable. Some coin collections that were worth tens of thousands of dollars 50 years ago may now be worth over a million to some collectors.