Mark Roemer Discusses How to Start A Coin Collection
Coin collection makes you feel like a dragon on a mountain with a unique treasure trove. According to Mark Roemer, other than the bling, there are intricate details, history, and materials that make each coin unique. These things make coins extremely fascinating and collecting them a cherished hobby shared by thousands throughout the world. Here are a few tips to start your very own coil collection:
Tips & Tricks
- Know your coins – Any hobby that requires a bit of specialization comes with its own knowledge and language. There are plenty of things you need to know about coins. Things that determine their rarity and increases their uniqueness. Some of the factors include:
- Coins in the circulation generally aren’t rare
- Commemorative coins that have been specially minted to commemorate people, places, events are higher up the value chain
- Face value (value printed on the coin) is irrelevant
- Intrinsic value (the price you pay or get for a rare coin) depends on aesthetics, mint year, historical value, scarcity, and more such parameters
- Brilliance of the field, rim, relief, edge or obverse can drastically affect the rarity of the coin
- Time to start is now – There are usually two ways of coin collection. You can either purchase or trade coin sets or simply acquire them for their emotional or visual appeal. A coin may be made from expensive materials, like platinum or gold, or have a high intrinsic value in the market.
However, a coin may have plenty of significance to you in other ways. It may be something from your significant other, a souvenir from your time in the military and many such reasons. Don’t worry about every little detail and start collecting coins that are interesting to you. You don’t need to arm yourself with knowledge from the get-go. Instead, you learn more on the way.
- Collection type – Once you start your coin collection, they need to be defined for proper organization and display. There is no set rule book for collection types. It is completely up to you. You can have a list of collection types in mind or sort your coins according to the most noticed similarities. However, if you have a target of collection types in mind, collecting new coins based on those types can become more fulfilling.
- Make a toolkit – Coin collecting as a beginner doesn’t require a lot of investment. Simple tools will get you through the hobby until you become more serious about it. Before you switch to specialized supplies, a few tools like a magnifying glass, storage holder, cotton gloves, and a reference book can be very useful. They allow you to keep your coins organized, dry and safe.
Mark Roemer believes that collecting coins is one of the most rewarding hobbies out there. You are on a perpetual treasure hunt and if you are lucky enough you may come across a rare coin and become a target of envy among your fellow peers.