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Starting a Coin Collection

In this section you will learn step-by-step about starting a coin collection and continue on to learn all you need to know to become a successful coin collector.

You can start your own coin collection with the coins you receive in change on a daily basis while you are learning all the ins and outs of the hobby at the same time.

That way, you can actually get a taste of coin collecting without worrying about spending a lot of money or taking a chance of actually losing money.

First Step - Start Your Own Coin Collection

starting a coin collection with spare change

If you are just starting a coin collection the best place to start is with coins from circulation.

When you start a coin collection with coins from your pocket or purse, you don't have any risk. For instance, after a while, if you find that coin collecting is not for you, you can just spend the coins.

State Quarters are the most frequently chosen coin series for people starting a coin collection. In fact, this particular series is responsible for bringing thousands of new coin collectors into the hobby.

The series has lots of interesting coins since each state's coin has a unique design and they are perfect for someone just starting a coin collection.

Another great series for starting a coin collection is the Presidential Dollar Series. Although, in my experience, this series of coins is not as widely available in circulation as the state quarters. If you are interested in collecting Presidential Dollars, you can check with your bank to see which coins they have available, or you can search eBay or Amazon. Presidential Dollar coins for the current year can be found on the U.S. Mint's site.

You may also decide that you want to start your collecting hobby with Lincoln Cents, Jefferson Nickels, or Roosevelt Dimes.

So, here is how you start your own coin collection:

  • Start saving coins from the change you receive for everyday purchases. It could be State Quarters, Presidential dollars, or whatever series of coins you decide to start with.

    It is best to narrow your focus when just starting a coin collection however. If you try to collect too many different series at once, you may get overwhelmed.

  • (click image for larger view)
    Coin Album Example
    roosevelt dime album example
  • After you get a few coins together, you might want to purchase an inexpensive album to keep the coins organized. They are available with a slot for each coin that you will need to complete the set, and they will work fine for circulated coins.
  • Find a good reference book, search the Internet or subscribe to some weekly and monthly publications about the area of coin collecting that you are most interested in. You might want to start with a book about state quarters or presidential dollars, or just US coins in general and begin studying.
  • Book of Knowledge

    Knowledge is the Key to Success in coin collecting as it is in just about any other hobby or area of interest that you pursue.

    If you don't take the time to educate yourself, you run the risk of wasting a lot of money on coins that are either over-graded, counterfeit or have some other problem.

    So, please take the time to educate yourself while you are enjoying your first taste of coin collecting with a fun collection of coins from circulation.

  • If your collection is not growing as fast as you would like for it to, you can purchase rolls of coins from your local bank. Sort through the coins and find the ones that you need to complete your set, then take the ones you don't need back to the bank and start the process all over again.

As your collection is growing, continue to learn all you can about coins and coin collecting so that when you are ready to increase your collection to include more rare and valuable coins you will have the knowledge and confidence to know that you are also making a good investment.

Start small when you are starting a coin collection and then work your way up to more valuable coins as your knowledge increases. Learn all about modern coins and their history, then work your way back to older and more rare coins.

Get a solid foundation before you spend much money.

Just remember, starting a coin collection is not hard. In fact, it can be quite fun and educational. And there are no set rules about what your collection should contain. The most important thing is to have fun with it.

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