Search thousands of topics on CostHelper.com

BROWSE ALL TOPICS >> appliances babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business weddings
CostHelper > Recreation & Activities  > Coin Collecting

Coin Collecting Cost


How Much Does Coin Collecting Cost?

 
 average costBasic Tools: $20-$40 
post E-mail post Post   Comments (1)

Whether a coin was minted by your own country, a far-away nation or ancient Rome, it's a tangible piece of history and a connection to a larger world. Collectors say coins blend beauty and craftsmanship with a sense of significance, and that each coin has its own story.

Typical costs:

  • It's possible to start collecting coins simply by searching through your pockets or coin purse and keeping the most interesting ones in a small box; Coin-Newbies.com explains how to start collecting coins for little or no money[1] .
  • Expect to pay about $20-$40 for the US Mint's recommended basic tools for coin collecting[2] -- this includes a high-quality magnifying glass, a good general reference coin book[3] ,soft cotton gloves and basic envelopes, holders or albums for storing your coins[4] , and more. The US Mint also provides a free online glossary of basic coin collecting terms[5] and a diagram of the various parts of a coin[6] .
  • It's possible to spend $10-$10,000 to $100,000 or more on a single coin. Since condition is crucial in setting the value of a particular coin, many collectors like to buy coins in person (rather than online or by mail) so they can see what they're getting. Often dealers sell their wares at coin shows sponsored by nonprofit clubs or commercial promoters; there's usually a nominal attendance fee ($1-$5). The Pacific Northwest Numismatic Association provides tips for attending coin shows[7] .
  • While coin investors might spend hundreds of thousands of dollars on coins, a typical hobbyist coin collector might spend $100-$300 a month on this hobby.
Related articles: Stamp Collecting, Metalsmith Jewelry, Woodworking

What should be included:
  • Coins can be collected around any number of themes -- by country, year, mintmark, subject of the coin's image, composition (i.e. gold or bimetalic), a certain time period or whatever factor interests you. And any type of "coin" can be collected, from what's typically thought of as money to subway tokens, sports medals and more. Most coin enthusiasts and experts recommend collecting for the fun of it. The BBC[8] gives a good overview of the hobby, and Coin-Newbies.com answers standard coin-collecting questions and lists available resources[9] .
  • Storage is important. The US Mint displays basic ways to store and display your coins[10] .
Additional costs:
  • Although some people say they collect coins as an investment, not all coins retain their value over time, and a coin collection does not provide income unless it's sold. Those who pay too much for coins they are told are "collectible" may lose money in the long term.
Shopping for coin collecting:
  • The American Numismatics Association lets you search for local clubs and local coin dealers; it also has an online marketplace (known as a "bourse"). The Professional Numismatists Guild also posts a coin dealer directory.
  • Details about upcoming coin shows are posted at CoinWorld.com[11] and CoinShows.com
post E-mail post Post   Comments (1)
CostHelper News


7 Ways to Stretch Your Reduced Food Budget
End of the year budgets are tight for everyone, especially in this economy.It's especially hard for the millions of Americans who depend on government programs like food stamps to help make ends meet. || Posted November 11 2013


7 Lesser-Known Discounts for the 50+ Crowd
As they age, members of the Baby Boomer generation don't like to admit that they're senior citizens, but they love getting discounts. It's kind of a quandary, because some of the best deals available are reduced prices for older folks. || Posted October 21 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments
completing a collection
Amount: $100.00
Posted by: Sidingguy49 in Minneapolis, MN.Posted: May 27th, 2011 11:05PM
I've been collecting coins since I was 8 years old...I have sold off entire collections and started all over again...The thing I do is I pick a coin album of mine and try to complete it...All that is left in them is anywhere from 12 to 4 coins to complete them...I like to work on my Morgan Silver Dollar Collection...the ones I still need are some of the rarest ones ever minted...I just paid 100.00 for a 1899 Morgan Sil. Dol. the total mintage of this coin is: 330,846 coins..a very small number in terms of rarety...I was lucky to get it for such a low price...I now need 11 more to complete that album.
I'll probably never really complete it...there are at least 2 that are priced beyond what I could possibly pay..The 1893-S and the 1895 are so rare that their prices reflect it and I would never be able to buy them...but I can still dream.
Was this post helpful to you?   yes     no Report prohibited or spam


 

Comment On Your Experience With Coin Collecting
 
Subject:  *
Amount Spent:  *
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  1.  www.coin-newbies.com/short.html
  2.  www.usmint.gov/collectorsClub/index.cfm?action=GettingStarted
  3.  www.amazon.com/s/ref=nb_ss_gw/104-5308425-8642353?url=search-alias%3Daps&field-keywords...
  4.  www.usmint.gov/collectorsClub/index.cfm?action=StoringAndDisplayingCoins
  5.  www.usmint.gov/collectorsClub/index.cfm?action=glossary
  6.  www.usmint.gov/collectorsClub/index.cfm?action=AnatomyOfACoin
  7.  www.pnna.org/reference/coinshow.html
  8.  www.h2g2.com/approved_entry/A672013
  9.  www.coin-newbies.com/faq.html
  10.  www.usmint.gov/collectorsClub/index.cfm?action=StoringAndDisplayingCoins
  11.  www.coinworld.com/News/ShowCalendar.asp
More Recreation & Activities Topics
Check Out All Costs for Recreation & Activities How Much Does a Piano Cost? How Much Does Quilting Cost? How Much Does Beadwork Cost?

Search Thousands of Topics on CostHelper.com

 
Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
Sinus Infections - Steroid shot and sent home
Paid: 2753.00
I woke up having breathing problems. I went to nearby non-hospital THH office. Nurse took blood pressure and temperature. Dr came in the room and spent less than 10 minutes and stated I had sinus infection... [more]
-Bill Moore
Emergency Room Visit Cost
Mold Testing Pacific Palisades, CA
Paid: 800.00
It cost us 800. We were pleased with Knight Environmental consulting who we hired. They were very thorough. Friendly and respectful of our home.They checked everywhere in our 7000ft home and tested the air... [more]
-AMY SCHWARTZ
Mold Inspection Cost
extraction
Paid: 739.00
Had 3 extractions yesterday. The cost was 304.00 each extraction but with some kind of insurance plan you could get 30% off. The plan was 75.00 annually and came at a huge savings on the work as my final cost with the plan was 814... [more]
-Dental mess
Tooth Extraction Cost
McHenry MD - Suburban Propane
Paid: 3300.00
Just got my bill and in 5 weeks we supposedly used 356 gals. Hard to do when you are not there the entire time and you turned the thermostat to 60. They charged $.35 more per gallon then from 5 weeks ago. $3.42 per gallon... [more]
-Check your bill with Suburban
Propane Tank Cost
Laceration from stick
Paid: 25.00
Slipped and fell on a stick while running around on a hill, and recieved 2 lacerations on my right leg, one about an inch long and one about 2 inches long. Called my insurance asap (Kaiser) and they directed me to one of their Urgent Cares... [more]
-
Stitches Cost
Urinalysis was asked of me
Paid: 3920.00
This was supposed to cost $250. Total!$3,675. for a urinalysis. Not mentioned anywhere on ANY search was this required to get a card... [more]
-Nellie28
Medical Marijuana Card Cost