Coin collecting dates back to the 12th century, and it remains a popular hobby for people of all ages around the world.
Commonly known as ‘numismatics’ by enthusiasts, there are many different reasons for starting a coin collection.
One of the cheapest ways to begin collecting is by saving specific £1, £2 or 50p coins which are found in pocket change. After all, they’ll never lose value and can be spent if you grow tired of the hobby.
For some collectors, the thrill comes from holding a beautiful piece of craftwork in the palm of their hand, where they can fully appreciate its age, weight and history.
For others, coin collecting is far more than a hobby, it’s a way of life. Rare artefacts are sought-after, sometimes by using metal detectors, and cherished for their beauty and scarcity.
It doesn’t matter why you’re interested in numismatics, this introduction to coin collecting will help you learn a few basic rules so you can create a collection you’ll be proud of.
The basic parts of a coin
Before starting a collection, it’s important to familiarise yourself with the basics – such as the different areas of a coin.
The head: Also known as the ‘obverse’, this side usually has an image of a bust or portrait and the year when it was minted.
The tail: Also known as the ‘reverse’, this side features the coins face value.
The rim: The raised-up area which encircles the diameter of the obverse and reverse sides.
The relief: The part of a coin’s design which is raised above the surface.
The edge: Sometimes known as the ‘third side’, this is often grooved but can be ornamental or plain.
The legend: The lettering or inscription which identifies the country of issue and its face value. It may feature the initials of the designer.
The field: Any flat surfaces of areas with no inscriptions, which provides the background for the coin.
The different types of coins
When you’re just starting out in numismatics, you probably won’t know all the different types of coins available to collect.
Here are some the most common types you’ll come across:
Error coins: Any coin with a flaw which distinguishes it from other similar examples. These are often extremely rare, difficult to acquire and carry a high price tag.
Proof coins: Specially minted for collectors and prized for their distinguished visual appeal. They have immaculate design and finish made to the highest quality. The pinnacle of coin collecting.
Brilliant Uncirculated coins: Coins with a fine mint appearance and lustre because they’ve never been in circulation. Slightly lower in definition to a proof coin.
Commemorative coins: Issued to mark a special event or tribute to an important person, Commemorative Coins can often prove to be valuable in their own right.
Bullion coins: Coins crafted from precious metals such as gold, platinum and silver.
Ancient coins: Exceptional pieces of history, often handmade, which can date back to Roman or Greek times.
Circulating coins or business strikes: The coins in general circulation for daily use.
Worldwide coins: Any coin which is from a country which is outside the UK.