The coin collecting market is huge. It’s also growing, with new collectors joining the ranks every year.
Coin collectors tend to be dedicated to their hobby and enjoy seeing trends in the market (which might be why you’re reading this!).
But what drives the coin collecting market? What makes it so strong? Let’s dive in!
Coin Collecting is Huge and Growing.
While coin collecting is a relatively new market, it’s huge and growing.
There are an estimated 100 million coin collectors worldwide—and that number continues to grow as millennials collect coins for the first time.
Coin collecting is also a good investment because rare coins have historically appreciated at rates far surpass inflation.
For example, if you had invested $5,000 in rare U.S. silver dollars in 1950 and held onto the coins until today, your investment would be worth more than $1 million!
Coin Collectors are Pretty Dedicated.
Coin collectors are pretty dedicated. They’re willing to spend big money on coins, and they’re also willing to travel for them. Coin collectors are a relatively small but active group of people found at coin shows all over the country.
You may have heard about the recent discovery of a 1913 Liberty Head nickel in Southern California; this “coin” sold for $5 million in 2007 and was sold again in 2018 for only $4,850,000.
Still, it’s one of the most expensive coins ever sold in the history of coin collecting!
Coin Collecting has Trended.
Many different things drive coin collecting trends. These include the economy, new coin releases, and changes in coin design.
In addition, the scarcity of certain coins can also drive collecting trends if they have been out of production for a while and become harder to find.
Some of the best coins ever minted in history hold the most value. One of the most expensive coins ever sold was the 1794 Flowing Hair Silver Dollar. It was sold for over $10 million in 2013!
The Coin Collecting Market has a Lot of Variety.
The coin collecting market is huge and has a lot of variety. You can collect coins from various metals, such as gold, silver, and copper. Coins come in all shapes and sizes as well. Some are round, while others are square or rectangular.
They also have designs on the front that may include pictures of famous people or events (like America’s Civil War).
Even though no official organization decides what makes a good coin collection, we’ll use this article to help guide you through how to start your own!
What Drives the Coin Collecting Market?
Coin collecting is a hobby, passion, and a way to learn about history, money, art, science, and more.
Coin collectors are attracted to the ancient history of coins and currency. Collectors like the idea that they hold something that people used hundreds or thousands of years ago in their hands.
In some cases, coin collectors want their collection to tell a story about themselves or their family history; other times, they collect coins because they like how they look or feel.
The Coin Collecting Market is Strong and Has Many Facets
Coin collecting is a great hobby. It has many facets, from history to economics to art.
Some collectors focus on a specific period or type of coin, while others collect coins from all over the world and throughout history.
Whatever your interests are, there’s no doubt that coin collecting has something for everyone!
Before you go…
Now that we’ve gotten you up to speed on coin collecting, it’s time for us to return to our hobby. We hope this article has helped you think about starting or expanding your collection and helped you understand the coin collecting market more! Happy collecting!
Check out my next article: “Is Coin Collecting a Waste of Time?“
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