Coin collecting is a timeless activity that captivates more than 100 million in the United States alone. Here at Coins Plus in Cincinnati, OH, we value this hobby for its historical significance, financial opportunities, and sentimental value. But if you have never collected coins before, we understand that you likely have questions. Fortunately, our experienced coin dealers are here to help. 

Your Coin Collecting Questions Answered

When Did Coin Usage Begin?

Typically, the first coins are attributed to Lydia in Asia Minor between 600 to 700 B.C. However, numismatists believe that bronze coins were used in China several hundred years prior. Both groups were likely unaware of each other’s existence, meaning the currencies were invented separately. 

In the United States, coin usage began in the Massachusetts Bay Colony with a series of silver coins. These early designs included the New England silver threepence, sixpence, and shilling as well as Willow Tree and Pine Tree coins. In 1793, 17 years after the country won independence, the government established the U.S. Mint and created the first national coinage.

This expansive history, ranging from ancient times to present day, gives coin collectors and dealers plenty choices for their collections. Some may specialize in one era while others may collect items from many time periods.

What Makes a Coin Valuable? 

Age does not necessarily equate to value. For example, you could have an ancient Roman coin that is worth a mere $20 but a modern American coin that is worth thousands. According to our expert coin dealers, the value comes down to supply and demand. How rare is the specimen? What material is it made of? What condition is it in? How many other collectors are after it? The answers to these questions will affect the coin’s evaluation.   

Why Do People Become Coin Collectors?

Everyone collects coins for different reasons. For some, it is to feel connected to history and to cultures around the world. For others, it is to feel closer to the relatives who collected before them and who may have passed down their collection. Many also use it as a kind of long-term investment that is resistant to inflation.

How Do I Get Started?

There are a few ways you too can become a coin collector. Here at Coins Plus, we recommend starting small. Try looking around your house, asking friends, or visiting one of our offices. As you amass items you will find an era or a set that interests you more than the others. This will become the core of your collection. We also recommend that new coin collectors purchase an album to house their collection.

Our experienced coin dealers are here to help collectors new and old build a collection. Call us at (513) 621-1996 today to schedule an appointment. For more on our inventory or numismatic services, visit us online.