Coin collecting as a Hobby
The art of collecting coins
Most collectors start as children (Don't worry, you're not too late), others are handed down entire collections from parents or grandparents, others are simply fascinated by this art, and begin the search for those unique coins out there.
As mentioned before, Coin Collecting is the art of well... Collecting Coins or other forms of minted legal tender. Collectors follow those coins which circulated for a brief period of time or came up for special celebrations.
As far as hobbies go, Coin Collecting is the oldest, there are records of Emperor Augustus gifting gold coins to his friends that ended up being used as models for new coins in the late period of the Roman Empire, suggesting these people kept this coins.
COIN COLLECTING THROUGH THE HISTORY
Pope Boniface VIII was an active coin collector at the end of the 12th century. Italian poet Petrarch used to collect coins during his travels.
At least three U.S Presidents used to collect coins, Thomas Jefferson, John Quincy Adams (He did not just collect them, he studied them and was a well known numismatic) and Franklin D. Roosevelt.
Coin Collecting can be a rewarding experience that offers something to everyone whether you are interested in modern US Coins ancient or medieval coinage, paper money, tokens, and medals.
If you don't learn how to become a good coin collector, the experience will be a bit problematic for you and you will not enjoy it at all. Especially when your heart earned collection gets dismiss by an expert.
There are a few rules that you must follow to fully enjoy Coin Collecting.
Education: Here is all about numismatics, learning and researching coins so you won't get caught off guard.
Patience: New collectors often have the urge to jump the gun and try to complete their collection quickly, while more experience collectors take their time, years to complete it with truly unique pieces.
Think like a Collector: Remember, you are not only collecting coins, you are investing money, so more often than not, your priority has to be your ROI, therefore you must always buy for the right reason.
Thinking in Long Term: Coins are not a short-term investment, so, don't be hasty to sell them even if you buy them at a good price, take your time and study the market.
Buying the best you can: If you are new to coin collecting there's no need to go spending $10000 on items. You have to start small and slow, no rush need it, study the market well.
Quantity over Quality: this one can be best explained with an example, say that your annual budget is $20000 if you have read the rest of the rules, then you know, is better to go for four or five really god pieces between $4000-$5000 than going after twenty 1000 pieces. Higher quality coins will end up having a greater value on the market in the long term.
Like with sports hobbies, Coin Collecting requires an enormous amount of discipline and self-control.