Search thousands of topics on CostHelper.com

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

Coin Collecting Cost


How Much Does Coin Collecting Cost?

 
 average costBasic Tools: $20-$40 
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 Post   Comments (1)  
CostHelper News


Forgotten Expenses In a Home Addition Budget
Items like construction costs, permit fees or debris removal aren't the only expenses to consider when calculating the total costs of a home remodeling project. || Posted August 5 2013


10 Most Popular Cosmetic Procedures Before the Holidays
With reunions and other get-togethers scheduled during the holiday season, most people want to look their best at this time of year. For some, that means filling in those wrinkles with a bit of botox, or having a nip and tuck down here and there. || Posted November 23 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
Windshield replacement
Paid: 560.00
... [more]
-Christine Brown
Windshield Replacement and Repair Cost
Outer CV Boots
Paid: 700.00
Both outer boots. Quoted about $350 each. Wish I had the time to take it to shop around like esyriac did... [more]
-DangerousCurveAhead
Replacing a CV Boot Cost
Cost of Annual Mammograms
Paid: 772.00
I Had a routine mammogram then had to have the right side repeated(needed a better reading). Insurance said it was not covered in our policy. Firelands Regional Medical charged me $241.00 for the routine mamo, then charged me $256... [more]
-MonaL
Mammogram Cost
DETAILED MY 2006 FORD FREESTYLE
Paid: 150.00
IS $ 150 TO MUCH TO PAY TO A PERSON TO DETAIL A 2006 FORD FREESTYLE IT WASNT WAX IT CLEAN BUT I THOUGHT DETAILING WOULD BE BETTER THAN IT REALLY LOOKS... [more]
-SHEILA DELOACH
Auto Detailing Cost
Expensive puppy shots
Paid: 91.00
2nd set expected to be 150.00 and 3rd 132... [more]
-Michael Gray
Puppy Shots Cost
I’m looking for a church, reception, and pastor to do our wedding at in or around Danville, Va
Paid: 200.00
I want a church to get married at we have never been married either of us and we don’t have a lot of money to work with but we still want to have a nice small wedding and reception in our area Danville or chatham... [more]
-Maurisa
Wedding Chapel or Site Cost