Coin collection is an intricate hobby that not many people fancy. The fascination for foreign coins is not just limited to owning a collection of rare dimes, but an enthusiasm to learn about ancient tales, myths, dark secrets and facts about the history of coins and it’s minting. Those who do fancy foreign coins are willing to drop big bucks to attain rare coins. The value of rare coins is always appreciating; hence collecting coins is considered an investment. These coins are placed at such high values that rare coin collectors opt for maximum security measures to protect them from professional thieves and competitors.
Though no rules apply to coin collection, some collectors focus on certain aspects about coins before collecting them. Collections can be based on countries, or on specific metals; collecting coins of a certain seires such as U.S Golden Eagles or Lincoln cents is another favorite. Other collections are made of theme coins i.e. coins that have a certain motif such as animals, royal stamps or the Olympic coins, or coins dating back to a certain era or a dynasty. Some collectors collect coins that have been issued with errors in design, inscription, composition or date.
Coins are valued by The Sheldon system, which has been approved by the American Numismatic Association. By this system, the coins are valued on a scale of 1 to 70, where 70 stands for a perfect specimen and 1 represents a barely identifiable coin. A coin is termed a perfect specimen after measuring its age and comparing it to its present condition. The most popular coin for collection is the United States Lincoln cent. |
