Getting Started with Coin Collecting

December 23, 2010

by Lee Minshull

As owner and president of Lee Minshull Rare Coins, Inc., I developed an early passion for coin collecting. Known as “the hobby of kings,” coin collecting opens up an exciting new world that is equal parts fascinating and enjoyable. While there is no correct way to collect coins, here are a few tips to help you get started.

1. Start collecting with circulated coins. This is a good, low-risk way to begin to learn about the hobby. Many people start by collecting state quarters or Presidential dollars. Obtain an inexpensive album from a coin store, and place coins that fit within your collection into it as you find them in your pocket change.

2. As you start out, focus on one type of coin rather than several.

3. Use the Internet or purchase a book as a reference which can help you learn about the types of coins you are collecting and teach you what to look for.

4. You can purchase rolls of coins from the bank if you’d like to grow your collection more quickly.

5. Don’t spend a bunch of money before you are sure that coin collecting is a hobby you enjoy. This is why circulated coins make such a good starter collection – if you find you don’t enjoy collecting, you can just spend the coins.

6. If you discover an interesting coin, research it to learn more about it. There are various places you can go to research coins including coin collecting websites, local coin shops, and collecting guides.

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