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Published on: 24th April 2020
Coin collecting, or numismatics as it is known to enthusiasts, is a popular hobby all around the world. It is cheap and easy to start collecting by simply saving change you acquire, but thinking about why you want to start a collection will help you choose an area that will make your new interest more meaningful
Reasons for starting a coin collection
There are many reasons why you might want to start collecting coins. Perhaps you've found an interesting coin by chance, or saved a coin from a trip abroad. You may have had some coins passed down to you, or wish to continue an interest from a previous generation.
If you have an interest in history, then you might enjoy the visual reference that coins offer. Some people enjoy following the work of the Royal Mint, and admire coins for their artistic merit. If value is a consideration, you can collect coins for their bullion value, seeing it as a long-term investment.
Learn some of the basics
To help find your way into coin collecting, you need to learn a few basic descriptions.
- The head, or obverse side usually has an image or portrait, and the year when it was minted.
- The tail, also known as the reverse, features the coins face value.
- The rim is the raised area around the coin.
- The area of the design raised above the surface is called the relief.
- The edge, sometimes known as the third side, is often grooved, but can be ornamental or plain.
- The lettering or inscription which identifies the country of issue and face value is the legend, and may feature the designers initials
- The flat surfaces of the coin, without inscriptions, is the field.
- You can begin by identifying these parts of a coin by studying the loose change in your pocket.
Different types of collectable coins
These are some of the most common types of coin you will encounter
Error coins: any coin with a flaw distinguishing it from similar examples. Often extremely rare, these are difficult to acquire and expensive.
Proof coins: specially minted for collectors, these have immaculate design and the highest finish. Prized for their distinguished visual appeal, these are the the pinnacle of coin collecting.
Brilliant Uncirculated coins: with a fine mint appearance and lustre, these uncirculated coins are slightly lower than a proof coin.
Commemorative coins: these are issued to mark a special event or celebrate an important person.
Bullion coins: crafted from precious metals such as gold, platinum and silver.
Ancient coins: often handmade, these are exceptional historical artefacts, possibly dating back to Greek or Roman times
Circulating coins or business strikes: the coins in general daily circulation
Worldwide coins: coins from a country outside the UK
The best way to start a collection you will enjoy over the years is to choose coins you like and find interesting. This way you will be able to develop your expertise and fascination with coins.
Published on: 24th April 2020