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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.

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.

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.

Old coins that is. Try looking under that old dresser, or up the attic where grandma or grandpa’s things may be stashed away patiently waiting for you to discover them. Who knows, you might find a coin there, an old coin that – at today’s rate – may be worth a few dollars; probably three or four or five, even ten times what the coin was worth back then.

A penny a day, is worth okay

Fortunately or unfortunately, there was a shortage of copper during the year 1943 and all pennies made at that time were minted using steel. There were however, some Lincoln pennies that were incorrectly minted on bronze that turned out to be blanks. A few years – or decades later -these bronze pennies became a rarity and are valuable. The steel ones though, because of their commonality, are worth only between one to three dollars each.

Be aware and be wary as there are schemes where gullible coin collectors are sold coins that are copper plated in an attempt to make these pennies appear to be bronze. Also, keep your guard up anytime someone offers you a circa 1943 penny made out of a metallic white alloy.

Old coins are good coins

Coins, specifically the silver dollars made and circulated between the years 1878 and 1935, are worth between twelve dollars and twenty five dollars for the circulated coins. The coins that were not in circulation are worth considerably more.

Meantime, those quarters, dimes, or half dollar coins made and circulated prior to 1965, are usually made out of ninety percent silver and therefore worth as much as today’s silver (with an additional premium, albeit small, put on the coin’s face value).

Wrong pennies are right

There is a Lincoln penny issued in 1972 on which the date and the letters on it appear to have been doubled. This rare coin is currently worth about sixty dollars, assuming the pennies are in standard condition. The Philadelphia Mint during that time period accidentally misaligned the die used in minting the coins causing the portrait of Lincoln to look like it was doubled. Fortunately or unfortunately, eighty thousand of these were circulated before the error was discovered.

In summary, coin collecting is similar to collecting bits of history and trivia from the past. In addition to the face value its worth as a treasure – pennies, dimes and coins – often are worth more in the long run.

People have different hobbies and there are individuals who love to collect certain things like coins. Coin collections are gaining popularity over the years. Arduous collectors are not very much interested in selling their collections; rather they want to store them for family keepsakes which they can pass on to their kids and grandchildren.

Did you know that at present, some coin collections are worth hundreds or even thousands of dollars? That’s true and if you want to start your own collection of coins, it’s never too late to begin. Collecting coins is an engaging activity and hobby at the same time. You will not only appreciate the coins because of their appearance but also in terms of price. These are the rewards that you can expect by engaging in such hobby.

Some individuals are not even aware that they already have a small collection of coins. However, you should decide which coins to collect. Some people love to collect foreign coins while others simply collect local state coins. The collections will depend on your interests and once you’ve decided which particular coins to collect, everything will be a lot easier. For starters, you can start collecting local coins and tokens. Just keep on collecting as many different coins as you like. You can get the coins from your own home or perhaps from your relatives and friends.

The marks on the coins are fascinating and somehow it tells a story about its past. The coin can also tell you where it originated or its place of issuance. Who knows, the coins may have been used by great leaders and royalty. Another good thing about these coins is that the famous figures are often depicted in it and so you will be more familiar with them.

Coin collections will largely depend on you as the collector. There is no particular rule to follow in collecting coins. As a collector, you should know the various methods that you can use to help you find more coins to collect. One way is to collect a coin series issued at a certain date. Some collectors make use of the so called ‘shotgun method’. This is a way to collect any coins that catch your interests. There are also coin collectors who prefer to collect odd-shaped coins; however, you can find most of these unusual coins in other countries. You can collect such unusual coins if you travel a lot, from one country to another.

Starting out is not a great problem because you can just start from your own home. If you want, you can visit local coin shops and see if there is an interesting coin there that you can purchase. If you think that a coin collection will not involve any expenses, you’re quite wrong. You see, if you really want to collect beautiful and interesting coins, you have to spend money especially if you want to go for coin series. You can even visit coin shows so that you will find out about the coin dealers in your area. These dealers can help you in searching for the coins to collect.

Start coin collections now and see how fascinating this hobby can be. You can have the coins framed so that you can decorate it in your house for all your guests to see. If you want to have a hobby that’s worth money, coin collections is just for you.

Coin collecting is said to be the “Hobby of the Kings.” Coin collecting is different from money hoarding. Collecting coins as an art form can be traced back to the 14th century. Today, people all over the world are collecting coins. Some collect it for their value, some just like the sheer fun that they get from getting their hands on different coins.

If one is interested in making coin collecting a hobby, he can very well do so. It is a hobby which does not require a certain skill and it can be done by almost everyone.

There are many different kinds of coin collectors. There are those who do it for fun, and others do in a more serious manner.

Informal coin collecting

Most coin collectors, especially the children, start out as informal coin collectors. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods without any intention of being serious about it.

Inquisitive coin collecting

Once the informal coin collector starts noticing the details of the coins, he becomes an inquisitive coin collector. This kind of coin collector won’t bother much into spending money to get coins. He merely wants to appreciate the coins. Soon, he will start to put them in containers or albums.

Advanced coin collecting

An advanced coin collector will collect coins with a specific target in mind. He may want to collect coins from a certain nation, or a certain time period.

There are many tracks which coin collectors pursue when engaging in their hobby. Here are some of the ways one can use in collecting coins:

Coin collection according to nation

Many coin collectors would want to collect coins from a certain nation during a certain period of time. This kind of coin collection lets the collector travel the globe through the coins. People may want to collect coins from countries they had visited.

Historical coin collection

Another way of collecting coins is by taking in mind history. Many coin collectors engage in collecting coins during a certain period in history like wars or declarations of independence.

Error coins

There are people who find collecting coins with errors exciting because these kinds of coins are rare nowadays.

There are many ways to collect coins and each way is as fun as the other. One must feel the hobby first before he decides whether to stick with it or not. Coin collecting can require certain amounts of money and the collector must be wise in engaging in such a hobby.

Commemorative coins have become very popular. Many people want to have different kinds of coins in their collections or for souvenirs. Many times they are used as traditional gifts for special occasions. These coins are not considered to be practical gifts, bur are commemorative items that can be kept for years as special souvenirs when received by a special friend or loved one.

There is a strong demand for these coins among people who are collectors as they may have significant meaning to them. Others will want them to remember an important day or occasion. The mint date and the event celebrated by the coin could be one factor people consider them collectible items.

Since the 1970s, the individual coins were available in the market every year, but are now available as sets in packages or in special displays. Many collectors say that one reason they are marketed this way was the depreciation of their value starting in 1971. The introduction of the euro may also be a factor.

There are countries that have produce commemorative coins and used these coins for propaganda. There were monarchs who issued coins to commemorate past or current events and/or celebrations that recognized their authority.

The half dollar was produced in 1892 to commemorate the Columbian Exposition in Chicago. This was a celebration to mark the 400th anniversary of the expedition of Christopher Columbus and his discoveries in the world.

During the following year, the first quarter dollar commemorative was introduced to signify the Exposition as well, but it also gave honor to queen Isabella of Spain. She was the one who “back-pedaled” the political agendas on Women Rights.

The first commemorative coins that were made of silver were introduced in the 1900s. The coins were minted in honor of Lafayette and George Washington. In the following years, the half dollar coin was denominated, and the legal tender commemorative coins were created to mark celebrations rather than historical events. These coins are recognized today as classical sets of special coins of historical events between the years1892 – 1954.

It was in 1932 that the Washington quarter dollar was released as the United States’ second commemorative coin in its denomination. It was issued for the 200th birth anniversary of George Washington. The coin also continues its circulation as a commemorative coin because of its popularity.

It was uncharacteristic to circulate a commemorative coin of the 1892 – 1954 era in the United States because the government had not intentionally put them into circulation, (they were not legally approved by the government for public use) so collectors will not pay the premium costs of these coins that are still in the market.

In 1975, that the Bicentennial quarter was introduced. It became the second circulating commemorative coin in the country, while the silver dollars and half dollars (1776 – 1976) were reissued as a special collector’s edition.

Many collectors have different agendas when collecting these coins. Some prefer commemorative coins from 1892 – 1954 while most collectors choose the modern editions. They know that these coins have different values depending on the series and/or editions.

Although there have been different series released, a proposal was submitted to congress that would mark the Lincoln cent for his birth anniversary. No one knows whether or not the 1-cent denomination commemorative coin will be minted.

The confusing part of these commemoratives that are circulating is the pattern of the denomination. The 1776-1976 commemoratives half-dollar and silver dollar may not be included in collections because of their scarcity. Most of the coins that are circulating are the quarter dollar coins. It should be an interesting development for the proposed circulation of the one cent commemorative coin.

Coin dealers can be considered as best friends of coin collectors. It is quite easy to find one. Although, with qualities like being ethical and honest playing an important role, it may take you quite some time to search for one. As a coin dealer, you would want to negotiate or entrust your coin collections to someone who is qualified to play the part. What are the characteristics that you would like your coin dealer to have? He should be:

* knowledgeable and must have even the slightest idea on the details of his topic

* respected by his friends and by other coin collectors as well

* financially stable

* demonstrates careful ethics

Now that’s all said, there are still a couple of things that you need to assess in order to evaluate a particular coin dealer.

Experience

A coin dealer must have at least several years of experience in the coin dealing industry and have certain accreditations from people. His credentials must be impeccable especially if your purpose for coin collection is for investment. You have to remember that not every coin dealer is good at what they do. Some would just pretend to know everything but in the end, nothing. You need to find a reliable and knowledgeable coin dealer who can give you tons of accurate advice.

Assets

A coin dealer must be financially stable in order to recompense and for you to be sure that he will stay longer in the industry. There is a vast majority of genuine coins in the market and sometimes fake ones show up. A coin dealer’s certification can help with these things and when all else fails and it turned out that what you have is a fake, you can take it all back on your coin dealer.

Friends

It is wiser and safer to choose a coin dealer out of his friends’ decision to let him join a certain group or guild. Otherwise, if the community or even his band of friends don’t like the way he makes business, they wouldn’t let him join the club. It only means that doing business with him is not actually safer as it seems.

Ethics

Nothing is more disheartening than to see how a scumbag would deal with his customers in a way that he’s trying to get more out of what is being offered. In this case, you have to be pretty keen on how a coin dealer makes business with other people. He must treat everyone with manners and not differently just because you’re wearing designer clothes when you came in. A coin dealer must always be fair in the way he deals with every customer.

Take note that coin dealers who are ethical would have enough consideration and respect to their customers no matter how young or old they are. A good coin dealer must represent fairly, treat customers fairly and grade honestly. Nowadays, this is not always the scenario. Most of the coin dealers think that they could get away with everything.

Recourse

PNG coin dealer are the ones who agree to submit arbitration in cases of disputes. You have to consider this especially if you are buying really expensive coins. You don’t want to go through all the complaints and lawsuits that’s why you have to be stern and avoid the slightest possibility.

It is advisable that you rely your coin collections on dealers that are affiliated with PNG just to be sure that your investment is safe.

In a coin collection, the most difficult part is how to find the coins for the collection. A collector’s main method of acquiring coins is by buying them. The most common alternative in acquiring a coin is through purchase in auction sales.

Rare coins and those that are of high quality are very difficult to buy. Auction sales whether online or at auction houses provide coin buyers the option to acquire these types of coins at lower prices. Online auction sales usually take 3 to 4 months to process depending on how fast bidders can decide on their bids or when the bidding process closes.

No matter how popular auction sales have become to many collectors, it is still important to know the advantages and disadvantages they can provide to coin collectors. Here are some points must to be considered before buying in auction sales.

Advantages

1. Auction sales provide simpler negotiations, and is the simplest way of buying coins for a collection. This is because of the set price that is reserved for the coin. It is easier to weigh options and estimate the price of the coin.

2. Auction sales include a bidding process. Buyers will only need to bid to the price they are willing to pay for a specific coin. This means that a coin will be acquired within the allotted budget of the buyer. If a buyer really likes a coin, then he can bid a higher price so that there is a higher possibility of winning the bid.

3. There is also a chance of getting the item if the buyer who won the bid was not accepted for some reason. This may also happen when the price that was reserved for the coin was not met. When this happens, the item for bidding is usually passed. This means that the item will not be sold and the bidding will be re-opened any time soon.

4. Contracts are involved in the bidding process. Once a buyer wins a bid for a specific coin, contracts will be exchanged immediately between the successful bidder and the seller. This will ensure that the negotiation was completed and the bid price of the item is confirmed.

5. The person who has the highest bid may be allowed to make a deposit payment. This will ensure that the item will be reserved for the person who won the bid. Deposits may be a fraction of the whole amount of the coin.

Disadvantages

1. When buying in online auction sales, there is a higher chance of fraud. This is because the negotiation is done online. The buyer does not see the person who is selling the item or know if the other bidders are real people who are actually bidding for the item.

2. There also times when the item that was displayed on the website before the bid is not the same item as the one that was delivered to the person who won the bid. It is recommended that the buyer should ensure that the very same item that he bid for is the one that will be delivered to him.

3. The reserved price of the item may also cause some disadvantages. There are times when the reserved price that was set on the item is higher than what the buyer expected. This will force the buyer to bid higher and exceed the budget they have allotted for the item.

4. Online auctions cannot ensure the buyers that what they are bidding for a genuine item. The buyers will only be able to inspect the coin once they have won the bid and the item is delivered to him. This may lead to fraud and the buyer ends up regretting that he bid for the item.

Auction sales may be popular but it is still strongly but be advised that buyers need to be aware of the pros and cons of this option. Buyers also must be familiar with their rights as consumers and buyers. Other options may also be considered before choosing the auction sale option in acquiring coins for collection.

Collectors may consider buying from friends or agents that they know but if they still would like to buy in auction sales, they need to make sure that the website or the auction house has no record of illegal activities. Buyers should also spend some time reading reviews about the sellers to make certain that they are dealing with credible people.

Coin collection is not just about having as many coins as possible. More important than the number of coins is the quality of those coins. This quality is measured by the coins’ grade and the grade is measured using a scale from zero to seventy (seventy being the highest point grade). Doctor William Shelby introduced this point scale in his work “Penny Whimsy”.

Here are the classifications of coins according to grade.

1. “Mint State” Coins

This is equivalent to a value of 60 to 70 in the Shelby’s grade scale. This means that the coin has no blemishes whatsoever. Most of the coins in this category are uncirculated, shiny, new coins, with absolutely no signs of wear.

2. “Almost Uncirculated” Coins

The “Almost Uncirculated” coins have a point grade of 50, 55, or 58.

It is very important to note that in these coins, coin collectors must know the locations of the high points in a particular coin. By checking the difference of the light reflected in the high points to the other parts of the coin, an “Almost Uncirculated” coin is separated from the Mint State coins.

3. “Fine Coins”

These can further be classified as” Extremely Fine” (40, 45), “Very Fine” (20, 25, 30, and 35) or “Fine” (12) depending on the sharpness of the remaining details on the coins. The coins are observed to have wear but the designs are still intact.

For “Extremely Fine” coins, the mint luster is still present.

“Very Fine” coins can be compared to coins which have been used for 1-3 years. Minor features of the coins are already gone.

4. “Good Coins”

These coins can be specifically defined as “Very Good” (12), “Good” and “Almost Good” coins.

The coins in this category are worn out. Only weak designs can be observed since the details of the coins in the high points are nearly smooth.

Full rims must be observed for the “Very Good” coins category.

In the case of “Good” coins, the mint mark and the date must be visible.

On the other hand, “Almost Good” coins are the most worn of coins in this category.

5. “Fair Coins”

The coins are “worn out”, but can still be distinguished as belonging to one of the types of coins – as long as one can identify a coin, it is a “Fair C”.

6. “Basal Coin”

These metals that can be determined to be coins – but the kind of coin are undeterminable.

With the classifications described, it will be very easy to grade coins. Just remember that knowledge of the coins’ grades gives coin collectors advantages!

Spotting errors in your coin collections or maybe in everyday pocket change is easier than you imagine. It’s rather profitable and fun too. You just have to follow the different steps carefully a couple of times so that the impulse of checking out every coin you receive will become a habit. These simple instructions are productive and proven methods of locating the different coin errors and varieties of die circulating inside your pockets and other people’s pockets.

There are three important tools though – a magnifier that can be seven times stronger or more, at least three to five dollars worth of usual or old coins and a very keen and watchful eye. Follow the sequence below.

1. Sort the denomination. If investigating for errors, always group your coins in batches. Example, gather your pennies on one side, then your dimes at the other, then your nickels, and so on. Eyes are very keen observers and so seeing one type joined together will let the brain memorize its features and angles so that you can scan faster. When you go to the next set of the same type of coins, your eyes and mind will collaborate and do the same scanning, determining and saving. It will be easier on your part to point out even the slightest difference with this kind of grouping.

2. Examine inscriptions. Look at the obverse lettering of every coin. Do you see anything unusual or odd about it? There are several instances wherein doubled varieties of die show doubling effects in just one part of a word. Polishing, greasy dirt collection or die abrasion can cause the failure of letters to be inscribed perfectly on the surface of a coin. Upon turning the coin on its other side, look at it carefully from every angle. Inspect for special oddities like doubling, missing letters, etc. that can be found in its inscriptions.

3. Look at the mintmark and date. Focusing on these mintmarks and dates should give you a better idea on what to look out for. These marks belong to the most valuable mistakes that you can most likely find in circulation. Several issues can be concluded in this part of the coin because of repunched dates and mintmarks, various kinds of doubling, overpunches and a lot more.

4. Examine the portrait. Portraits are the major aspects that are most likely to acquire some strangeness in its proportion. When examining it, consider every angle as a whole. Can you see doubling that is quite obvious? Observe for important missing elements, cuds and die cracks. Focus your attention on the portrait’s ears, chin, eyes, and mouth and look for any signs of doubling.

5. Feel the edge. That would be difficult. But then again, what you can do is to roll the coin on the surface of your palm to examine if the edges are the same. By this method, you’ll see the edges clearly and you’ll be able to point out any lines, seams and reeded edges that are missing.

6. Separate odd ones. By doing these simple things, you can become an expert in coin inspection and printing out certain errors in only a matter of seconds. Once you have determined which among them are odd, examine them thoroughly under a magnifier supported by very good lighting.

By being adept to these, you can easily spot errors in your collections in just a matter of minutes.

There are basically 4 groups of coin collectors. While maybe not every coin collector fits into one or more of these categories, most do. The categories are inheritor, hobbyist, investor and hoarder.

The majority of coin collectors start out in the inheritor category. Some coins are passed on to them from a relative. Or maybe they were given to them by a friend or the coins were just found in their change.

However the coins came into their possession, the new collector didn’t purchase them and usually has no knowledge of coin collecting. Once in their possession, if these coins spark an interest, the inheritor becomes a collector.

The hobbyist collects coins for their artistic or historic appeal. They enjoy the challenge of trying to obtain all the coins in their chosen categories. The hobbyist can easily move into the investor category.

The investor sees the opportunity to increase their original investment in coins. They can appreciate the artist appeal of the coins, and may get a lot of personal pleasure in the process of completing their collection, but their main reason for collecting is the potential return on their investment.

Then there’s the hoarder. They collect coins just for the value of the coins. Their collections usually include everything they can get. They have no interest in the artistic or historic appeal of the coins. For them the value of the coin is the face value or the value of the material the coin is made from.