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Guide to Coin Collecting

WHAT TO COLLECT?

(click on thumbnails to view larger images)

The world is quite literally your oyster. The soundest advice is to collect what you like at prices that are affordable to you. Coins are among the least expensive antiques available. True, coins can and do sell for hundreds and thousands of pounds, but there are many tens of thousands that sell for just a few pounds – see The Price of Coins.

You may decide to collect the Ancient Greek Coinage, the Coins of the Romans or those issued by the Celts or rulers of Byzantium. Alternatively you may decide to collect the coins of a specific country such as Britain, Germany, India or Russia. Possibly collecting the coins of a group of countries appeals: for example, those issued by countries in South America, by members of the British Commonwealth or countries of continental Europe. Of course, if old coins do not appeal, the world’s mints strike a multitude of commemorative or coin sets especially for the collector. Here are some more ideas:

•Thematic collecting

This approach has no restrictions as to national boundaries or the span of time. A topic is chosen such as animals, birds, insects, flowers, buildings, views of towns, ships, or even people wearing hats. Having chosen a topic, this becomes the theme of the collection.

• Type collecting


Victoria, Gothic Crown, 1847	Victoria, Crown, 1893

This approach is to collect an example of each type, which is the technical term for a main design of coin, issued in a particular country, state or region. To make this manageable people normally chose to collect a specimen of each type in a particular territory struck between two dates, or restrict their interest to the coins of a particular reign or dynasty.

•Denomination collecting


Brabant, Joan & Wenceslas, Cavalier	Brabant, Philip the Good, Cavalier

Many collectors decide that a particular denomination appeals and therefore decide to collect as many different types as possible that relate to a specific period.

• Rulers


King of Wessex, Edward the Elder (899-924), Penny, Tower type	William 1 (1066-87), two stars type, Penny of Northampton

Collecting an example of a coin from each reign of an emperor, king or queen certainly gives an overall view of a country’s history. For example, the approach could be to collect a coin from each reign of English monarch from 1066, or an example of a coin from each Scottish ruler from the beginning of the reign of David I through to Queen Anne.

• Beauty

Hadrien, AE Sestertius, AD 119-121

One should only buy something because it appeals. For example, no one would buy a painting that they did not like. Collectors who view coins as objets d’art acquire coins that they find aesthetically pleasing.

• Commemoratives

Agrippina Snr (mother of Caligula, died AD 33), AE Sestertius, AD 37-41

Some collectors are only interested in coins that were or are struck to celebrate particular events. Although now generally associated with modern issues, this overlooks the fact that many Roman coins were issued which make reference to particular events. It is therefore quite possible to form a collection of Roman coins that chronicles the history of Rome.

COLLECTOR PROFILES

Judith
Judith started collecting stamps when she was seven or eight years old. Her father received a great deal of correspondence from overseas and she carefully removed the stamps from their envelopes and started her collection. Her parents also travelled and upon their return would give her the odd coins left over from their trips. ‘However, it was not until my early 20s that I actually started putting my stamps and coins in order. Stamps proved far too difficult and time consuming, but coins really fascinated me’, she commented. Although she did not abandon the stamps that she had collected, her interest soon concentrated on coins and when she made visits abroad she selected coins from her change to add to her collection. From this form of collecting she gradually began to collect coins seriously.

So what does Judith collect and why does she find coins so appealing? ‘I collect mainly English coins because it’s easier for me, knowing the history of my own country better than any other.’ She has no particular collecting pattern and, although her preference is for silver halfcrowns, she also buys other denominations. Her real love, however, is the ‘oldies’. ‘Some of them are so beautiful. Confront a Henry VI gold noble with an Elizabeth II £5 coin.....there is no comparison’, she says.

I asked Judith if it was the portrait on coins that she found appealing. The response was emphatic, ‘No. it is the overall design that I look at. For me to buy a particular coin, it has got to have a certain something. It has to feel right and look right - it is a certain “magical” combination which when I see it, I just like it. I do not restrict my purchases to a minimum grade, but I do tend to go for coins in the higher states of preservation. I prefer to have one really good piece rather than several run-of-the-mill specimens.’

Although her main collection is devoted to English coins, Judith also takes a wider interest. Being a dedicated traveller, she finds that her interest in coins fits well with her travels. ‘I am fascinated by different countries, their history, culture, people and geography and occasionally I still add pieces to my small collection of world coins.’ In common with most collectors, Judith does have a budget for the additions to her main collection. She recently had to forego buying a really beautiful coin because she had, only a short time before, spent an ‘outrageous’ amount on a rare coin which was not nearly so beautiful and which cost much more.

So where does Judith buy her coins? ‘Following one or two unfortunate experiences, I now make my acquisitions mainly from one dealer who, over the years, has become a friend as opposed to just a source for material. In any event, I just do not have the time to visit many dealers. When I first visited him I asked for something quite modest and simple and requested some general advice on collecting. I liked his approach and now I rely entirely on him for any advice and guidance that I require. He knows what I like and he also has my “wants list”.’

Judith’s advice to any new collector is to make time for their pastime. ‘Dedicate a set period each week to your collection. Read as much as possible about the subject, keep the coins in order and maintain a record of the coins as you buy them.’

Alan
Alan became interested in coins when he was seven years of age. This was in the days before decimalisation when it was quite usual to find pennies and halfpennies from the days of Queen Victoria in circulation. The coins acted as a trigger for him to read about history - the reigns of George V, Edward VII and of course Victoria. It was not long before he was delving back further in time. Nearly forty years later, he has a collection of English and UK coins which extends back to Alfred the Great’s time as well as a comprehensive collection of British Commonwealth coinage.

This has not been a continuous period of collecting. Marriage and the arrival of a family meant that there were more pressing things than indulging in collecting coins. However, when his sons were in their teens, he again turned towards numismatics. The last quarter century has been a well-organised campaign to form an extensive collection of the coinage of the English and UK series.

With the early hammered coins, his object is to secure an example of each reign. However, from the reign of Edward I (1272-1307) his aim has been to obtain an example of each denomination. Where there is a major change in design, for example during the reign of Henry VII (1485-1509) when there are groats with a forward-facing and profile bust, he will buy an example of each. Likewise with the milled coinage, for example during the reign of George II (1727-1760), he will want an example of each denomination featuring both the monarch’s young and old heads. Essentially Alan is what is called a ‘type’ collector - he seeks an example of each ‘type’, or design, of coin that is available.

Like many collectors, Alan does not have unlimited funds. Although he hopes one day to extend his gold collection back to the reign of Elizabeth I, his earliest gold coin so far is a laurel of James I (1603-1625). Rarities have to be forgotten, but nevertheless Alan enjoys the hunt for a specimen that has been elusive at a price he can afford to pay.

His interest in British Commonwealth coins was a spin-off from his main collecting. He came across some examples in a dealer’s stock and became attracted to the coins of an empire upon which the sun never sank. The series of British Commonwealth coins is certainly vast and the opportunities for collecting are almost endless. However, undoubtedly Alan’s main interest is the English and UK coinage.

Although condition is not of paramount importance to Alan, he does upgrade specimens in his collection when this is possible. However, he will accept minor imperfections when a particular coin on his wants list has been particularly elusive.

So, what is the main appeal of coins to Alan? Undoubtedly it is the history of the reign during which they were struck as well as the story behind the coins themselves. As he mused, ‘It is a shame that coins cannot talk.’

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