Posted on: 20 June 2016
If you have a child who has shown an interest in coins, you may be thinking about letting them start a coin collection. However, if you aren't a coin collector yourself, you may have no idea how to get started. Here are a few tips that you will want to follow when getting your child up and running with their own coin collection.
Start to Learn Coin Talk
As with most hobbies, coin collectors use certain terms or lingo that you may not be familiar with. This can make it challenging for you or your child to decipher what a coin seller is telling you about the coin. For example, if they tell you that the coin has a bag mark on it, you may be wondering what that is. A bag mark is a mark on a coin that occurred when it came in contact with other coins in a mint bag. This means that the coin is not perfect and has a minor flaw on it. But that flaw is not as severe as a coin coming into contact with another coin when they aren't bagged. If your child is interested in collecting coins, both you and your child should familiarize yourself with the common phrases that are used by coin collectors and coin dealers.
Pick a Coin Niche to Start With
There are tons of different coins out there. This can make starting a collection overwhelming. You and your child need to decide on one niche area to focus the collecting in. This allows you both to have a clear focus and know where to start. Your child can decide to collect coins made during their birth year, coins from a certain country, coins during a certain time period, coins with errors, or even coins with animals on them. There are many different niches to start in based on what appeals to your child. And the beauty of it is, you can select a niche and expand out as your child's tastes and interests change. But setting an initial niche gives your child something to research and learn about. From there, they can figure out what coins are on their must-have list.
Purchase the Supplies Your Child Will Need
Before your child can go about collecting coins, they will need to have the right supplies. Holding a coin in your bare hand can leave oils behind that can discolor the metal. Not having a magnifying glass won't allow your child to see small details in a coin. And if a coin is improperly stored, it can become damaged. Having the right supplies on hand ensures your child's collection is properly cared for and maintained. Some of the supplies every new collector will need include:
- Coin envelopes or albums
- A general reference coin collector's book
- A high-quality magnifying glass to examine coins with
- A jewelers tray or plush towel to examine coins on
- A plastic ruler to measure the coin
- Soft cotton gloves to handle the coin with
Find a Reputable Coin Dealer
Once your child is ready to purchase their first coin, you will want to find a reputable coin dealer in your area. A reputable coin dealer can help your child find the coins they are after, while giving them tips and advice that only comes from interacting with others in the industry. As your child becomes more familiar with coins and knows what to look for, you can branch out your search at coin shows, with other coin collectors and even with online coin stores. However, when you are new and just starting out, buying from a reputable coin dealer gives you peace of mind that you are getting a fair deal and that the coin is real.
There are many benefits to starting some sort of collection with your child. Your child learns patience, organization skills, and develops relationships with other collectors. If your child has shown an interest in coins, they may wish to begin collecting coins. Learning terms used in the coin collection industry, selecting a niche, buying the basic collecting supplies and finding a reputable coin dealer you can trust are the first steps to beginning a child's coin collection.Share