What are the types of coin collection you can collect? If you’re interested in starting coin collecting, you can do it in several ways. The first thing to do is decide what type to pursue. Many are available, and each has unique rules to be followed when collecting.
Types Of Coin Collection YOu Can Collect:
1. Colonial Coins
A colonial coin collection focuses on coins from the colonial period. These coins tend to be rare, valuable, and of high quality. In some cases, collectors may collect coins from other periods as well. Colonial-era coins are typically made of gold or silver and are very detailed in design.
They often feature intricate engravings depicting significant historical events or famous people from the period. Some common examples of these coins include those from England during their reign over America (1625-1776).
Pros:
- Most of these coins are rare.
- Highly demanded by collectors.
- Rich historical value.
- Typically made of silver or gold.
Cons:
- It can be expensive.
- Hard to find.
- Most of the coins are only a handful.
2. Gold Coins
A gold coin collection refers to a collection of coins made of gold. Gold coins are generally collected by people interested in history and the study of currency, though some will collect them as investments.
It’s important to know that there are many gold coin collections, including one focusing on specific countries or periods.
Pros:
- Gold tends to go up when other investments decline, providing a stabilizing effect for your portfolio.
- Gold is a safeguard against inflation.
- You don’t have to pay capital gains tax until you sell.
- Nobody must know you have it — if that matters to you.
- In worst-case financial scenarios, such as massive currency devaluation, you can use gold and silver to buy and sell. That may sound crazy, but it has happened in other countries.
Cons:
- A thief could take your gold if you’re not careful.
- Unlike stocks and bonds, purchasing gold is not an investment in company growth. You won’t get dividends or interest from tangible gold.
- You may have to wait years for gold to go up in value.
3. UK Coins
UK Coin Collection is a coin collection focused on coins from the United Kingdom. UK coin collection, also known as British coinage or English coinage, was started in 1849. This type of collection is popular in both the UK and the US.
Many online shops sell UK Coin Collection items such as coins, banknotes, medals, and tokens. These shops can be found easily by searching for “UK Coin Collection” via Google or other search engines.
Pros:
- Affordability.
- Increasing in value.
- Fulfilling.
Cons:
- No residual income.
- Easily lost or stolen.
- Initially time intensive.
4. US Coins
The US coin collection is the most popular. US coins have a rich history, and there are thousands of different types of coins that you can collect. Coin collecting can be fun and addictive, but it also makes a good investment if you choose wisely.
US coins have been collected by people worldwide for hundreds of years now. Many collectors like to specialize in one type of coin, while others try to collect as many different coins as possible!
No matter what kind of collector you are, we hope this article will help answer some questions about US coin collections!
Pros:
- US coins are well-documented and accessible.
- US Coins are widely available.
- Plenty of storage options.
Cons:
- Strong demand.
- Registry sets are competitive.
- You’re not the only one looking.
5. World Coins
World coin collection is a collection of coins from different countries worldwide. World coin collectors like to collect coins from each country and try to get as many different types of coins as possible.
Some people collect coins to study the history of different countries, while others do it for fun or just because they like collecting things in general.
Pros:
- Wide variety of coins to explore.
- Bargains.
- There’s a fewer competition.
Cons:
- Research can be a challenge.
- Rarities can be hard to find.
- There are fewer price guides.
6. Commemorative Coins
Commemorative coins have been minted to commemorate an event or person. These special coins are usually limited in number and are often commemorated by a special design.
Commemorative silver pieces are most commonly made of precious silver or gold. Commemorative coin collectors can collect in different fashions.
Pros:
- Limited edition.
- Mostly made of silver and gold.
- Uncirculated.
Cons:
- Less valuable than other rare coins.
- Some coins lose their value over time.
- Some commemorative coins are hard to find.
Before you go…
Coin collecting is a great hobby to get into. The variety of coins in circulation today is wide, which means there’s something for everyone! Whether you prefer coins from different countries or want to collect some tokens from your own country, there are many types of coin collections.
Check out my next article: “11 Japanese Coins You Should Add to Your Collection.”
Related Articles:
