Who does not love money? We all like to spend money, and buy many things for us, our loved ones or maybe our home. However, there are people who love to collect rare coins as a hobby.
The people that collect coins as a hobby are always very possessive of their collection, and the very sight of rare coin excites them. Coin collection as a hobby started a long time ago in the US, around 1652. During that time, it was customary for individuals and businessmen to make and distribute coins with their own personalized engravings.
Collecting US coins in gold, silver or platinum can be a very interesting and profitable hobby. The worth of such coins keeps increasing, as the prices of metals keep going up. Moreover, the numismatic value of these coins also goes up with the passing years.
The collectors are free to choose the kind of coins that will make their collection interesting and unique. Most of them are fascinated by the designs and shapes of the coins minted in the US. Over the last thirty years, the US Mint minted close to 300 billion coins!
During the mid 1780s, the Articles of Confederation permitted to various states to produce coins of their own designs. It is interesting to note that some states, like Vermont, Connecticut, New Jersey, Massachusetts and New York, created coins with unique designs, and many coin collectors are keen to acquire some of those coins.
Before you start collecting US coins as a hobby, or for the purpose of making investments, you might want to learn a few interesting facts:
- The first US coin was made in 1787 with the approval of the federation of the US. It was named as the “Fugio Cent”, and it was secretly produced in Connecticut's New Haven.
- US coins can only be manufactured by the US Mint. Different kinds of metals, or their combinations, are used for making different types of coins. For example, pennies are manufactured from strips of zinc, whereas nickels are produced from an alloy containing seventy-five percent copper.
- Even today you can buy old US coins made from solid gold. These coins are often known as Indian Head and Gold Eagle coins. In fact, it is worth investing in such coins, as their value keeps appreciating with time and the increased price of gold. The price of these coins is significantly higher than their face value.
In case you are inclined to collect US coins, you should know the finer characteristics of coins, and you should look for ways to get them at competitive prices. This is indeed a very wonderful hobby that allows you to learn and preserve the history and culture of your country.
Like any other product, the quality of the coins you acquire is extremely important. One has to look for genuine old coins of proven quality. It is worth having a smaller collection of old and genuine valuable coins, as compared to having a larger collection of old coins that are easy to find. However, old and genuine coins are extremely costly and difficult to procure. So this could prove to be a very expensive hobby. Yet, in the long run, you'll never lose any money, as you can sell such coins at anytime you want, and get a lot more money than what you might have invested.