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Coin Collecting: The Benefits of a Good Hobby

Coin Collecting: The Benefits of a Good Hobby
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Posted: 08-18-2017 10:45:00 AM

Any hobby can yield surprising benefits, and coin collecting is no different. Find out what countless hours of research and peering through a loop is doing for you!

Coin Collecting: The Benefits of a Good Hobby

Collecting coins is a great hobby, but what specifically does it do for us? Why do we enjoy it so much? While the answers vary from person to person, here we will discuss some of the most prominent benefits of being a numismatist. 

Let’s get to it.

The Challenge

Many people who are not familiar with the hobby of coin collecting are completely unaware of what goes into it. For those of us who collect coins by series, we are all too familiar with the challenge.

Each type of U.S. coin has numerous key dates and rarities. The same can be said for world coins as well. Whether a mintage limit was set before the dies struck for the first time or mintage was limited by other factors, acquiring key date coins can be difficult. In addition to simply acquiring a specimen to call your own, many of us seek the best possible example that we can afford.

While this challenge is long-term and certain coins can seem downright elusive at times, the feeling of looking at a completed set is very satisfying.

If you’re new to the great hobby of coin collecting, be sure to check out the other articles in the InfoVault. The Beginner’s Corner is full of information created specifically for those who are just getting started.

If you happen to be a collector who is past the beginning stages, you should still take a look at the InfoVault. There’s plenty of information there for you too, including articles about news or current and upcoming coins.

How coin collecting can lead to great knowledge

Carson City Mint mark on Morgan Dollar.

One of the most interesting things about coins is the story behind them. In fact, that’s exactly what attracted many of us to this hobby in the first place.

Perhaps the best example of a coin with a story behind it is the Morgan Silver Dollar. The sheer amount of history associated with these coins is staggering. Even those who do not collect coins associate the Morgan dollar with the Wild West. This association alone has drawn many collectors to collect Morgan Silver Dollars over the years.

By researching the Morgan Silver Dollar, significant points in American history are sure to be encountered. For example, the introduction of the Morgan Dollar was related to the discovery of the Comstock Lode which was also responsible for drawing citizens to Nevada. Some of these were struck at the Carson City Mint, which has been out of operation for over 120 years and has a legendary reputation today.

Large gold and silver bullion bars.However, not all of the knowledge that comes along with this hobby is historical. Many of us also know enough about bullion and the precious metals market to make our own informed decisions in that area.

Other information pertaining to coins is simply fascinating, such as the modern minting process. As of March 1, 2017 over 560,000,000 Lincoln cents have been struck at the Denver Mint and an additional 515,000,000 were minted in Philadelphia. Those numbers are just for the first 3 months of 2017! It’s quite impressive to watch this process.

The U.S. Mint has an entire educational section on their website as well. The information there covers not only coins, but also the history of the Mint itself.

Can collecting coins improve mental health?

Can collecting coins improve mental health?This hobby isn’t known for providing any physical health benefits, but it certainly benefits the mind. Whether we realize it or not, as collectors, we are always learning more about some aspect of coins or bullion. It could be the most recent mintage figures, a related moment in history, or how a rare coin came to be.

While learning is always good for the mind, perhaps the most significant mental benefit is the relaxation of delving into something that isn’t attached to our jobs or other daily obligations. This quality alone can be beneficial.

You’re sure to make a few friends along the way as well. Whether it’s at your local coin club, a coin shop, or a coin show, you get the chance to be around others with similar interests. It’s all too easy to strike up a conversation with someone who shares one of your favorite hobbies and you never know what those new connections could lead to.

Why Coin Collecting is a Great Hobby

Collecting coins is a great hobby.

The benefits above should sound familiar, although we all find additional ones along the way. Without a doubt, it’s a great time to be a numismatist. Today, opportunities to buy, sell and examine coins are everywhere. Make the most of them and enjoy this hobby as much as you can. No matter how long you’ve been collecting, it always has something more to offer. 

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About The Author

Brian Comp Jr. Brian Comp Jr. is a coin and bullion expert from Pennsylvania. He attended his first coin show at the age of 8 with his father in the late 90s. Brian has been working as a writer since 2011 and specializes in content that helps customers make good decisions. In his free time, Brian enjoys reading, checking out new coins, lifting weights, and drinking coffee. He’s always ready to answer questions, just email him at bcompjrservices@gmail.com.

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