Is Collecting Coins a Good Hobby? The Benefits of Collecting Coins
Is coin collecting still popular? Is coin collecting a dying hobby? As an online coin dealer, we get asked questions like this all the time. While it’s true that coin collecting has been on a steady decline, it’s not a moot point. The increase in themed collector coins has helped sustain the hobby, but a surge is expected in 2026 when all circulating coins will get a new 250th-anniversary design.
However, coin collecting has never been about doing what is popular. Most collectors get involved in the hobby because of all the interesting factors that set it apart from other pursuits. Read on to learn more about why you should collect coins and how to get started.
Why is Coin Collecting an Interesting Hobby?
Though there are several other hobbies you could get involved in, numismatics has continued to draw participants in because it:
- Teaches About How History Impacts Coin Supplies and Minting Processes
- Allows You to Preserve Culture and Heritage
- Has No Age Limit or Barriers to Entry
- Provides an Education in Financial Responsibility
- Can Be Passed Down
- Gives Access to a Community of Collectors Around the World
The Benefit of Collecting Coins
Aside from all of the things that make it an interesting hobby, there are many benefits to collecting coins. When you get involved in numismatics, you can start to enjoy the challenge, pride, and value that comes with owning your own collection.
Coins Gain Value
While it might not be true for every single coin on the market, the majority of pieces will gain value over time. This is certainly a rare occurrence for most other forms of investments. Unlike other precious metals, the value of coins also comes from collectors’ demand. The more difficult it is to find a piece, the more expensive it will become.
Ownership of Rare and Beautiful Pieces
Much like art collectors get to enjoy their rare and beautiful pieces, you can enjoy the beauty of your coin collection. While some may classify a beautiful coin based on its luster and flawlessness, you might prefer to collect them based on their artwork. Most coin designs were created by famous sculptors, so you can think of it as collecting a tiny sculpture with more details revealed each time you look at it.
The Challenge of Finding the “Perfect” Coin
If you are a person who enjoys a challenge or treasure hunt, then you’ll love collecting coins. The biggest challenge that stands in the way of coin collectors, regardless of budget, is actually locating that elusive piece. In a world where an endless stream of currency flows between hands every day, it can truly be like looking for a needle in a haystack when you set your sights on a particular coin.
Are Collectible Coins a Good Investment?
In addition to all of the other benefits, coin collecting is one of the few hobbies that can be seen as an investment. As we mentioned earlier, coins typically gain value over time. That means that you can quickly sell your collection someday and make more than you spent initially. It’s also one of the few investments you can immediately walk away from and still not lose any money.
That’s not all!
Many of the older coins have higher precious metal content. For example, quarters and dimes minted in the US before 1965 have 90% silver content. Therefore, their prices can be based on the cost of gold and silver rather than their rarity. Some of them can even be added to your IRA. Coins minted after that date have less silver content, so their investment value would be based on their rarity.
How to Start Coin Collecting
If you’re wondering, “how do I start coin collecting hobby?” you’ve don’t have to figure it out on your own. IPM is your premier online coin dealer. Since 1995, we have helped thousands of clients start and expand their coin collections so that we can guide you through the process.
We recommend that you follow these steps to get begin your coin collecting journey:
- Start Simple: It’s easy to get swept away in the process of buying books and books of coins, but it’s better to start small and simple. This allows you to learn as you go, ask questions, and figure out what you like.
- Choose What to Collect: Every collector has their own idea of what the perfect collection looks like. Some seek out the most flawless pieces, while others focus on dates, artwork, and specific themes.
- Learn to Handle Coins Properly: Many new collectors don’t realize how easily the metal face can be damaged. They are very delicate and can react to the atmosphere around them, so you should learn the best way to handle and protect your investment.
- Join Clubs: A great way to learn more about the hobby and meet like-minded individuals is through a local coin collecting club.
- Shop Magazines and Website: You can shop different coin collector’s magazines or IPM and similar websites to find new pieces to add to your collection.
- Have a Plan: As you start to move into the phase where you are adding to your collection, we recommend creating a plan. A spreadsheet or list of coins you would like can help you. At IPM, you can show us the spreadsheet, and we can help you check pieces off your list!
Begin Your Coin Collection with the Help of IPM
Want to start your very own coin collection? You can begin right away! International Precious Metals takes great pride in helping new collectors find the perfect coins for their new hobby. To get started, all you have to do is contact us!
We have several friendly service representatives ready to guide you through the process over the phone, and you can call us toll-free 24/7. You can also take a moment to submit our online contact form or chat with a live representative online.
If you’re interested in reading more about precious metals, check out some of our other great posts including, ‘Are Palladium Coins A Good Investment?’, ‘Key Date Gold & Silver American Eagles and ‘Why Buying Precious Metals Will Keep You Safe From A Stock Market Crash’.