Tips For Collecting Coins
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General overview of coin collecting
“Money makes the world go round” is a popular saying. Just
about everything in this world needs money in order to move or
function. If you want to travel, you need money. If you’re
hungry and you want to eat, you need money. If you need some kind of
product or service, you need money. The list goes on and on. But
beyond the obvious meaning of this popular saying, money, indeed,
makes the world go round because the first form of money is the humble
coin.
According to some scholars, the first coin appeared around 7th
century B.C., when Croesus, the king of Lydia, an ancient kingdom in
Asia Minor, adopted a system of placing his royal symbol on oval
ingots of electrum, a natural amalgam of gold and silver. This was
to guarantee the weight and fineness of the coins.
Since then, this system caught on and many communities, then
countries, started using it. Thus, the love affair with shiny,
beautifully crafted coins began and coin collecting became a passion,
even an obsession, for many people. Coin collecting has been a
popular hobby for generations and goes well beyond gathering coins due
to their value. Simply put, collecting coins is the trading and
collecting of coins or other forms of legally minted currency.
Valuable coins are those that were in circulation for only a short
time, coins that were minted with errors, or extremely beautiful or
historically interesting pieces.
No sooner when the practice of coin collecting began, several coin
collecting guides were written down. For example, the amount of
coins to be minted and the conditions to which the manufacture or
currency shall be subject were prescribed by government or ruling
authorities. Rules like these served also as guides to coin
collecting. Other things coin collectors would want to keep in mind
are the condition and sources of the coins. Avid coin collectors
purchase coins from coin shops, auctions, flea markets, and other
reputable collectors. Some even goes directly to banks or government
mint offices to buy coins for their collection. The condition of the
coins merits a huge discussion in some coin collecting guides—from
printed magazines to internet forums—because an undamaged,
good-as-new coin is more valuable in the market.
Speaking of market value, coin collecting can be a good form of
investment. The Law of Supply and Demand applies to it because
certain coins may be more sought after than other. However, in
general, most coin collectors agree that coin prices are steady.
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Coin Collecting Directory
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