Unlock the secrets to a successful coin collection: Top tips for beginners

Have you been introduced to the world of numismatics, and have no idea where to start? Beginning a coin collecting journey can be daunting, as there are numerous paths to follow depending on the metal, denomination or theme. The key to a successful collection is to ensure that you actually like what you are collecting! It can be tempting to purchase coins that are limited edition or proof quality to make your fellow collectors envious, however, it is important that you purchase something which you enjoy owning and collecting.

It is always a good idea to narrow down your coin collection to a specific theme so that you do not become overwhelmed. Choosing a certain theme, such as military or royalty, will make your collecting journey a lot easier and the probability of you being able to complete your collection will be much higher. For instance, following the accession and coronation of our new monarch, King Charles III, there has never been such a pivotal time to obtain royal themed collectable coins. Sterling Mint has a fantastic variety of royal themed commemorative coins, so is a great place to start!

You will then need to decide if you would like to base your collection on a specific metal or denomination. Depending on your financial situation, you may then choose whether you would prefer to collect silver or gold coins, and silver is a much more affordable and also accessible option. If you are stuck between these two precious metals then there is no reason why you can’t collect both! It is just advisable that you keep the two in separate collections to avoid any discrepancies.

From circulating to rare historic coins, there are a wide range of denominations to choose from which are popular in the world of numismatics. The sovereign, the crown, the halfpenny and the 50p coin tend to be the main options which collectors lean to depending on their personal preference. The crown, especially the silver crown coin, is extremely popular among coin collectors who have a particular interest in royalty.

Why coin collecting is a popular hobby

Ask any numismatist their main reason for coin collecting and they will tell you that their love stems from it being an immensely rewarding hobby. Collecting commemorative coins brings enjoyment for a number of reasons, from having the satisfaction of owning intricately designed pieces of art, to building a vast range of knowledge about the history behind the coins, or even just having the pleasure of knowing that they are able to pass down their collection to family members in the future who can further enjoy the collection that they have created.

When it comes to expanding their collection, coin collectors tend to opt for commemorative coins as they are the most sought-after and therefore highly collectable. Whether they have been issued to commemorative a first, or to celebrate a historic event or anniversary, their significance in history and memories which they hold make them extremely popular in the world of numismatists.

Currently, one of the most popular coins to have in your collection is the silver crown coin. The crown itself has a long history, dating all the way back to Tudor times. These days, it is mainly struck as a commemorative edition to celebrate a range of different events and anniversaries. Sterling Mint have a range of different silver crown coins available to suit all preferences and budgets and these would be the perfect option to consider when starting your very own coin collection.

The history of coin collecting

Since Ancient Roman times, coin collecting is one of the oldest hobbies on record. It is said that Emperor Augustus enjoyed collecting old and foreign coins, and often gifted them to his friends. There is substantial evidence to suggest that coins have been collected as a hobby for as long as they have been in existence.

During the 15th through to the 17th centuries, coin collecting became the ‘hobby of kings’ whereby kings and nobles would employ others to scour different countries for rare and unique coins. This was largely down to the fact that ordinary people needed to use their coins to purchase necessities, and didn’t have the funds to collect as a pastime. It was during the 19th century that coin collecting increased drastically, thanks to the broadening scope from collecting ancient coins to coins of the world. Thus, a new hobby for all to enjoy was created, and this love of numismatics has flourished over the years by experts and novices alike.

Building your coin collection: Where to find coins and how to acquire them

Coin collecting is an easily accessible hobby, and can be a low-cost one too. If you are struggling to begin your collecting journey, then why not start with the change in your pocket? Currently in the UK there are approximately 29 billion coins in circulation, so plenty for you to kickstart your numismatic adventure.

When beginning your coin collection, you may decide that you want to choose and stick with one particular denomination. Currently, one of the most popular circulating denominations that collectors will choose is the 50p. Since it’s introduction in 1969, there have been 155 different 50p coins minted in the UK, making it a highly collectable coin. From mintages of 188 million to just 109,000, hunting down different coin designs will bring you a great deal of entertainment and you may be able to bag yourself a rarity just from your loose change.

In fact, from the 10th August 2023 you may find a piece of history among your change as five million 50p pieces have been released into circulation to celebrate the coronation of King Charles III. Carrying the official portrait of The King on the obverse, the reverse shows Westminster Abbey, in homage to the location of the coronation. If you are a Royal fan, this is the perfect addition to your collection and with the added fun element of scavenging for this new coin!

If you prefer to base your collection on uncirculated or rare coinage, then there are various distributors that you can purchase from. When searching for a coin company, ensure that they are trustworthy. A rule of thumb is that if it looks too good to be true, it probably is. It is useful to look out for product satisfaction arrangements, such as our 60 Day Satisfaction Guarantee, which allows you to return the item back to us within 60 days, no questions asked. This commitment is unrivalled by anyone in the market except Hattons of London, so they are another company which you could utilise when purchasing additions for your collection.

It is also a good idea for you to speak to an expert, as they will have all the knowledge available to help you decide which collectable coins would be perfect for you based on your interests and financial position. It is extremely easy to find and acquire coins from websites online, however, we would advise using a site engine such as Trustpilot when choosing a reputable distributor, as this will provide you with the clarity that you are in safe hands and dealing with a company you can trust.

Common mistakes to avoid in coin collecting

Mistakes can happen amongst any hobby, and coin collecting is a learning curve for both novices and experts. Frequently, collectors can devalue or damage their coins by cleaning them incorrectly, so the simple answer is just don’t do it! If the incorrect products are used, the surface will become compromised, and this is a huge mistake to make if you are thinking about passing them on in the future. If you believe that your coins have become discoloured or need to be conserved, then it is advisable to seek help from professionals who will be able to restore your coins without causing further damage.

The biggest issue which numismatists face is the improper handling or storing of their coins. If you do not take the correct precautions when handling rare and unique coins, you will find that their surface will corrode over time from the natural oils on our fingers and hands. Therefore, it is essential that you only hold the coin by it’s edge, or you wear gloves when handling your collection to provide extra protection. To preserve your collection, it also may be beneficial for you to put in the extra money and effort to ensure your coin collection is stored away from any potentially damaging environmental factors.

Another common mistake that collectors will make is the purchasing of counterfeits. Unfortunately, an advancement in technology and equipment has meant that it is now more difficult to be able to identify fakes, and even the most observant coin collectors can be deceived. To overcome this issue, it is important that you learn the differences between real coins and counterfeits, and you will be able to find plenty of articles and videos online to help you with this. As previously mentioned, it is also important that you ensure you are buying from a company that you can trust, and feedback engines such as Trustpilot will help you with this.