5 Reasons Why People Collect Coins

Coins used to be made way before Christ. They’ve been around for centuries and as coins are older and well preserved they gain a higher value. Almost every country in the world carves its own currency. Aside from the currency which is standardized, each year or more often, the country makes special collector coins with motives usually from their history.

In the previous paragraph, we already mentioned all the reasons why people collect coins. If you didn’t pick up the reasons between the lines, here’s a better answer on the question of why people collect coins. Read on find out more:

Profit

There’s no doubt about one of the main reason why people collect coins and that is – profit. Coins never decrease in value so you can be sure that buying coins will only allow you to make an investment that will later end up in profit.

Coins are usually made of gold, silver, or platinum in later years. These are materials that never drop in price, so together with the fact that collector coins only increase their value with time, you can be sure that you can’t lose your investment.

Another fact about the profit part is that some coins made a long time ago are unbelievably valuable today. For example, the most expensive coin today is the silver-copper dollar coin made in 1794. It was sold for a staggering $10 million. The reason for this is that this is actually the first dollar ever made in the history of the US Federal Government. The second most expensive is the Double Eagle from 1933 that was pressed but wasn’t published. It’s worth $7.6 million. You’d say it’s a great business, right?

Admiring the collections

Just like people collect stamps, pins, and notes, others love collecting coins. Since each year every country in the world publish new ones, they love getting their hands on some of them. Of course the more valuable are the ones more desired but since they have a high price, getting some of these expensive coins is not a must. Actually, today you can find gold coins for sale online and have them in your possession no matter where you are in the world.

The love of collecting coins is in the peace, joy, and the devotion toward self while looking at the coins and enjoying the time taking care of them. Coins need constant care and special protection. Especially the old coins need absolute dedication if collectors want to keep the glory and the value of them.

History

Since coins are most often made with historic motives, they are a great way to learn about one’s history. People dealing with history and persons that love this discipline enjoy looking at some of their favorite characters from the science books.

Collectors sometimes arrange the coins in chronological order and enjoy having a live show in their homes made from coins with motives from different ages. Professors also love to show them to students in their lectures and explain the importance of their existence. If they made it to be on coins that lived until today, they must be very important for humanity.

Prestige

As we already mentioned, some coins are highly expensive. Rich people love to make collections of valuable items. Coins, as seen, are some of the most expensive items in the world. The most expensive coin in the world is just 14.6 ounces made of silver and copper but it’s worth 10 million dollars. The prestige is in the rarity, it’s the first coin ever made in the US and there are only around 120 of them in the world. See more about this here.

The 1343 coin of Edward III is worth $6.8 million. The reason for this is that there are only three found in the world. There might be more, but who can find them? It weighs only 0.12 ounces of fine gold, and collectors would die to have it in their collections.

Saving

Coin collectors know that the value of the coins they purchase might not be huge, but in time, it will become higher. It is a way to invest your money in something valuable. Knowing that the investment won’t drop, they think it’s a great way to save and pass the collection to the heirs.

Categories: Finance

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