Is Coin Collecting a Good Hobby?
If you like coins, history, precious metals and/or art, then YES coin collecting can be a great hobby for people of all ages. Coin collecting is suitable for kids and adults. It can be very inexpensive and has no limits, so you won’t run out of coins to collect. It’s a lot of fun going through coffee cans filled with miscellaneous coins. I used to spend hours going through mom’s change from her purse, when I was kid.
Coin Collecting for Kids
Coin collecting is very popular with kids. They love playing with real money. You can start young kids, ages 8-12, with pennies, nickles or dimes. These denominations are less expensive and plentiful…you know, the change in your pocket.
Coin collecting can keep kids occupied for hours on end. Just dump out a coffee can full of change on the floor and let them go through it. They can pick out coins that go in coin books according to year and Mint. Kids will get a history, finance and reading lesson all in one. If they continue until they are ready for college, the coin collection can also be a savings account for college…should they want to part with it.
Coin Collecting for Adults
Many adults will and do enjoy coin collecting. The coin age/date or precious metals (silver, gold, platinum) or history makes coins fascinating. I really like the artwork on some coins like the Morgan Silver Dollar or the Silver Eagle Dollar. Some foreign coins have very detailed artwork also and are popular among collectors.
Coin collecting can also be an investment. Some coins gain value over time. Precious metal coins like silver, gold, palladium and platinum can gain value based on the market. If these metals trade higher then the coin will increase in value. If you buy these types of coins when the metal market is down or low, you can make money as the metal prices rise. I did this with silver dollars. I bought about 20 silver dollars when the silver market was at $13.00/oz. I sold them 5 years later when silver was trading at $35.00/oz.
It’s very easy to start a coin collection. Just start saving your change and dump it into a can or bucket. If you want more change, then go to your local bank and buy rolls of coins. You would be surprised how many old and/or rare coins can be found in rolled coins. I have several 1943 steel pennies that came from a roll.
It’s like a treasure hunt. You never know what you will find.