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Canadian Coin Collecting
By Tiara James
With so much information and beauty contained in so small a package, it is
no surprise that coin collecting has been a hobby nearly as long as the
concept of coins themselves.
The history of gold coins dates as far back as 2,700 years ago. The first gold
coins in the world were issued in Lydia around 640 B.C. certain internet
websites will provide you with a lot of information about the history of gold
coins.
Australia reveres its national animal with the Gold Kangaroo, for example,
while China has a Gold Panda with a lovely design that changes every year.
Because not many people know what distinguishes precious rare coins from
run-of-the-mill legal tender, these coins can remain in circulation for decades,
until a lucky coin collector recognizes them.
Although the aesthetics may change, price does not. The value of your coins
stays the same regardless of colour.
Coin collecting, or numismatics is a hobby as old as time. As a hobby, it has
been around for more than 2,500 years. This is surprising since the use of
coins has been around for pretty much that same amount of time too. Some
people happily collect more common everyday coins, going through their
pockets at the end of the day for them is fun, checking dates and mintmarks
on their change. Some collectors can spend thousands of dollars on rare
silver and gold coins from the 1800's and early 1900's. Some collect coins
from different countries.
Commemorative coins are a popular form of collection, as are rare minted
coins like those which had an error in their stamping. If a certain set of coins
doesn¡¯t interest you, it won¡¯t be any fun at all to become a collector. If you
are interested in making the highest profits possible with your coin collection,
you will need to find a merchant partner who is experienced in the specific
rare coins that interest you, and who will sell them to you at a good price.
Canadian Coin Collecting: Pleasures vs. Treasures
In Canada where money the popularity of coins has shown significant
increase because the value of the ¡°paper money¡± tends to deflate as much
as 25% to 30% in a short period of time. More on Rare Gold Coins and
where you can find them. For this reason, coin manufacturers in Canada
started making different kinds of coins to replace the value that was lost in
the depreciation of paper money. Gold continues to thrive in various types of
coins and their value continues to increase.
Coins function as solid emblems of a nation¡¯s history. Canada has gained
importance by producing Canadian coins serve as a means of monetary
exchange and a source of historical enrichment.
Many coin collectors are enticed to try Canadian coin collecting. They know
that collecting such Canadian treasures not only offer them remarkable
diversion but can also provide them with additional value in the future.
So for those who wanted to start collecting Canadian coins, here is a list of
some ways to get you started:
1. Do your homework
Like in any venture you must do your homework before you start collecting
coins. Try to research how Canada manufactures their coins.
Coin collecting for investment purposes can be a tricky endeavor.
This can be done by following what coins are being sold for, and what
dealers are paying for coins. You will need to be shown how to assess the
true value of a coin which can be based on many factors such as age,
mintmark, and condition.
A similar problem happened in Philadelphia a few years later, when the P on
the die of some 1989 quarters was clogged with dirt, preventing the coins
from being properly stamped.
People hoarded coins as a way of safeguarding their wealth. Those coins
that were especially beautiful were hoarded the longest, often being passed
down within families. For most gold coin collectors, there are the highly
coveted rare gold coins and a lot of gold coin collectors are interested in
these rare gold coins that they will offer high bids just to be able to get their
hands on these.
The Gold Eagle features a representation of Lady Liberty striding with torch
in hand through a field of light rays on its front side.
Three basic rules here: buy what you like, buy what you can afford, and buy
at a reasonable price. Follow this advice and you'll enjoy your coins more, you
won't pay too much for them and you won't go bankrupt.
The lure of coins lies in its power to draw people into the era it belonged to.
These coins show many aspects of everyday life during those times. A highly
motivated coin merchant will go to shows and retailer auctions, keep abreast
of current prices and trends, and will generally keep up-to-date with the
current coin market. Any investor will recognize the impact of current
information on profit levels.
Learn the history of coins and how they may offer great opportunities to
earn a profit and at the same time be an enjoyable hobby.
2. Finders keepers
To start the ball rolling, try to get as many coins or tokens as you can obtain
without having to spend a great amount of money. Your parents or your
grandparents may have some coins that they kept because they did not hold
any monetary value at that time.
3. Use some guides
Coin collecting is not a complicated activity but it is not that easy either. You
would likely need some references that will guide you in choosing the kinds
of Canadian coins to collect.
You can refer to ¡°Haxby¡¯s Coins of Canada¡± or other brochures that will
provide you with adequate information regarding Canadian coin collecting.
4. Enjoy and have fun
The idea of coin collecting is not to get the most expensive and the rarest
coins that you can find. What matters most is that you enjoy what you do
and that you are amazed by the kinds of coins that you are able to obtain.
Coin collecting may differ from one place to another but Canadian coin
collecting is sure to give a hobbyist great pleasure and not just mere
treasures.
When deciding which coins to collect, you should consider your interests,
your budget, and your return on investment.
An avid coin collector will be able to tell you virtually every piece of history
that surrounds any coin in their collection both because they tend to
specialize and because knowledge is one of the most important factors when
it comes to starting and maintaining a collection of any value or worth.
Some people have made a lot of money buying and selling coins, others have
lost fortunes. If you are serious about investing in numismatics, first spend a
bit of time learning.
Some collect coins related to kings and queens. Some collect those related
to plants and animals.
Generally speaking, putting demand aside, the more scare/rare a coin, the
higher its value. This is usually very true, especially when comparing dates
within the same series.
American coins have undergone several changes in material. For example,
during World War II, pennies were made out of steel, because copper was
needed for the war effort. There are also variations on the American Eagle
that are minted from silver or platinum instead of gold.
You can get a silver locating device or a magnetic pole for finding loose coins
in ditches, under cars, or in other hard-to-reach places. Or simply rely on your
eyes to identify those gleaming metal circlets of potential wealth. The
development of two large coin organizations in the mid-to-late 1800s, the
American Numismatic Society (ANS) and the American Numismatic
Association (ANA), helped spark American interest in building and maintaining
a coin collection.
About the Author
More on Rare Gold Coins and where you can find them.
Article Source: http://www.simplysearch4it.com/article/50785.html
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