Coin collecting has long been an enjoyable, interesting, educational, and for many, a rewarding experience. Over the years, collectible coins have taken on a dynamic appeal, not only for professional collectors, but also for those who collect coins as a hobby.
The value of coins, individually, as a set or series, and as a total collection, has escalated rapidly similar to other collectibles and antiques, such as stamps, dolls, paintings, rare books, and other items.
For the novice coin collector called a "numismatist," coin collecting should be taken very seriously because, like anything else, there are risks involved and it can become a very expensive venture. Although it may be a hobby, treat it like a business.
Today, coins are offered at shows, auctions, through newspaper and television advertisements, and on the internet. Make sure that your purchases are made with the utmost care by taking the time to research the seller's credibility.
If a purchase is made over the internet or at an auction, it may not be possible to verify whether the coin is authentic or not, so use considerable caution.
What makes a coin valuable depends on the collector, the rarity of the coin, and the market at any given time.
Prices may rise during times of uncertainty, when speculators and investors pull their money out of the stock, bonds, and the real estate market and purchase large amounts of gold and silver bullion as a hedge to inflation.
On the other hand, if large amounts of gold and silver flood the market, or if the demand for certain coins drop, prices may drop, also.
If you are collecting coins as a hobby or as an investment, there are several books in print, along with other publications, that keep up with the trends affecting prices and they give a heads up to what coins are in demand at any given time.
Rare coins are most desirable, but other factors may have an impact on it's value.
For instance, the type of coin, the imprints on it, it's age, if it was minted during an historical event or period, and where it was minted may add or detract from it's value.
Ancient coins dating back to over 2000 years ago from ancient Rome, Greece, Turkey, Egypt, Phoenicia, and other areas around the world are prized because of their historical importance.
A coins metallurgical makeup is also of great importance, whether it is gold, silver, platinum, copper, zinc, nickel, aluminum, or other base metals.
Whether a coin is defective or not also has an impact on it's value. If it has a hole in it, is bent or scratched, corroded, chipped, or even if it is cleaned, it may lose some of it's value.
Flaws made during minting may have the opposite effect, making the coin more valuable.
Rare and limited edition coins are a great hedge against inflation, and like any other investment, they should be treated with with the utmost care and respect.