What Is Numismatics? And How to Avoid My Mistakes
Numismatics is the study and collection of coins, currency, and related items. But for most of us, it simply means coin collecting.
There are dozens, maybe even hundreds, of guides on how to start collecting coins. Instead of giving you another list of generic tips, I want to share what I did wrong in the beginning so you can avoid making the same mistakes and spending money unnecessarily.
Step 1: Decide What You Want to Collect
This might seem obvious, but it’s a step many people skip. Don’t just follow someone else’s path. Collect what actually interests you.
Some people love collecting Mexican centavos. Others focus on coins or banknotes from the European Union. Some try to gather coins from as many countries as possible. There is no right answer. It’s your collection.
Step 2: Think About Completion Early On
Once you’ve chosen a theme or coin series, ask yourself a simple question. Do you want a full, complete set, or are you happy with a mostly complete one?
Most coin series include a few “key dates.” These are coins that are harder to find because of low mintage, historical significance, or collector demand. They tend to be more expensive and sometimes even counterfeited.
If I could go back and start over, I would buy the key dates first. That way I wouldn’t have spent so much time and money filling in common coins, only to get stuck at the rare ones later. If you decide to go after the key dates early, make sure to buy from reputable dealers. The last thing you want is to spend hundreds or thousands of dollars on a fake.
Step 3: It’s Okay Not to Finish Right Away
You don’t need a perfect set to enjoy collecting. A mostly complete album is still something to be proud of, and you can always fill in the gaps later. Take your time and collect what you can. Then, when you’re ready, you can target the coins you’re missing. Many reputable dealers offer fair prices if you shop carefully.
A Quick Word of Caution About Where You Buy
While it’s easy to find reputable coin shops and dealers online, it’s even easier to come across ones that are not. Some sellers will intentionally mislead you into buying things you don’t need. Others may do a bait and switch, offering one item but sending another.
These kinds of experiences can be frustrating, expensive, and discouraging. In many cases, it’s hard to get your money back. I would strongly recommend avoiding places like Amazon or discount apps that sell coins. Even if the items aren’t counterfeit, you’ll probably overpay for what you’re getting.
If you’re ever unsure about a seller or a purchase, feel free to reach out to me. I’d be happy to help point you in the right direction. Your time and money are valuable — don’t waste them.
Step 4: Collect One Series or Several?
This choice is totally up to you.
Some collectors like to focus on one series at a time. Others enjoy working on multiple sets. I personally enjoy collecting across several albums. It’s exciting when I come across a coin that fills an open slot somewhere in my collection.
Final Thoughts
The most important tip I can offer is to make the hobby your own.
Whether you’re chasing rare coins or just collecting what catches your eye, it should be fun and rewarding. You don’t have to rush. You don’t need to aim for perfection. And if you ever need help or advice, there are plenty of collectors out there willing to share what they’ve learned.
Enjoy the process, and happy collecting.
Richard.