Collecting
coins for fun and profit
by D. L. Crane
Coin collecting is
something that is a hobby for some, but is
looked at 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. |