How to Start a Coin Collection

For the past few decades, American Mint has sold a unique range of collectible items. Although customers may purchase die-cast models, jewelry, and more through American Mint, collectible and commemorative coins are the company’s main product. 

Coin collecting can get expensive, but interested hobbyists can easily start a collection by first identifying a budget and an area of interest. Collectors frequently decide to only gather certain denominations or coins made of a specific metal. Based on their personal interest area, collectors will set the right budget for their income to include funds for the coins, coin holders, albums, and other accessories. 

After setting a budget and focus area, many people start their collections by saving coins currently in circulation. Although these coins may not be in the best condition, they allow collectors to enter the hobby for a relatively minimal cost. This tactic also gives collectors the chance to buy their accessories over time and reduce their risk of ruining prestigious coins without the correct tools or protective casings.

As collections grow, hobbyists can begin looking for more expensive coins. They should also make sure to stay up to date on the various coin age and quality grade levels, as well as other items needed for collecting. This way, they can get the proper maintenance tools before they start buying more rare coins.

The Benefits of Collecting Coins

An online retailer that was established in 1998, American Mint offers a range of collectibles, including commemorative and rare coins, decorative knives, and medals, to customers all over the world. Working from its base in Mechanicsburg, Pennsylvania, American Mint dedicates itself to ensuring the authenticity and quality of its products. There are numerous benefits to collecting coins.

1. Making Money. Some of the rarest coins in the United States retail for values exceeding $1 million, such as the 1913 Liberty Head V Nickel, which is worth almost $4.5 million. While you may not find coins that reach these values, it is possible to make money from coin collecting if you know what you’re looking for and strike lucky by buying coins below their market value.

2. Education. All coins have histories and many collectors find great joy in exploring the stories behind their collections. By studying the backgrounds of your coins, you will often new things about people, places, and culture.

3. Metal Value. Some common coins carry value due to the metal used in their creation. For example, many American coins that were minted prior to 1965 were made with up to 90 percent silver. In some cases, these metals lend the coin more value to scrap and precious metal retailers.