Deprecated: Function get_currentuserinfo is deprecated since version 4.5.0! Use wp_get_current_user() instead. in /home/sliverhammer/public_html/wp-includes/functions.php on line 5383
Login
A Beginner’s Guide to Coin Collecting.
Welcome to Numismatics!
Collecting unusual objects can be exciting, enthralling, nerve-wracking and relaxing in equal measure – and sometimes more or less at the same time! And this certainly applies to numismatics, the art (or science) or coin collecting.
Numismatics has a long history – as old as coinage itself. It’s easy to start and it is completely flexible as to your level of commitment.
Your first discovery
Coin collectors often start a collection almost by accident. It might be a very shiny £2 coin that catches your eye, or the now out of circulation £1 found in your change. It could be something you find down the back of the sofa that reminds you of a foreign holiday or it might be some older coins discovered in a jar at grandma’s.
Whatever the starting point, there’s always a nudge of curiosity that gets you started. For older coins, it could easily be the smoothed profile of an historical figure, or a coin that commemorates a particular event in history – or even one with an important or interesting date. And perhaps today’s coins will tell their own story: what about coins minted in 2016, or those from 2020. Will tomorrow’s collectors recognise their significance?
In fact, it is the very personal link with the past – thinking about what the coin represents and who may have handled it – that makes a coin collecting such an engaging hobby and, over time, a real passion.
It is thought that the ancient Romans used tokens, albeit selectively. In Britain more recently, most commercial tokens were produced unofficially to stand in for small change, in times when the monarch and the Royal Mint did not produce enough coins to satisfy demand. Because of this, they were often tolerated by the government.
The first large scale occurrence in Britain seems to have been under King James I, when farthings (a quarter of a penny) were first produced in copper. Although minted with the King’s approval, they quickly came to be seen more as tokens than coins, because they could not be exchanged for their face value in silver.
In Britain, the 17th and 18th centuries were intermittently plagued by shortages of official coin. Often this was as a result of a lack of silver due to the cost of numerous wars, or a reluctance by the government to tackle the job of reforming the currency. It was not until after the Napoleonic wars that long lasting changes were made that took tokens out of widespread circulation.
Every coin tells a story
Look at the coins in your change. Even a handful of modern coins have plenty to tell.
This is especially the case today: a surprising number of ‘collectable’ special editions, such as the 2012 Olympic commemorative coins, have found their way into general circulation. Even normal in-circulation coins can be interesting to track down: do you remember the six UK coins that together become the royal shield?
And old coins – tarnished, battered, carrying the face of long dead king or queen – can come with intriguing stories even if they have a relatively modest cash value. You can come across these in the unlikeliest of places, but you can also buy mixed collections of ‘graded’ coins. These are coins are already sorted for quality and authenticity. They will be mostly of low value, but there are still plenty of interesting finds to be made when you buy them.
Occasionally, quite anomalous coins crop up. Thus it is still possible to find an Edwardian silver three pence piece, perhaps in a forgotten draw of curios. These were small and round and very different to the 12-sided brass ‘thruppenny’ used before decimalisation. A good condition example of the Edwardian 3d could be worth £2 or so. It won’t make you rich, but it’s interesting to contemplate the story of such individual pieces of the past.
UK pre-decimal coinage carries huge variety; once you start collecting you’ll quickly get used to the different monarchs and start connecting design, weight and material to different eras. Even pre-Victorian coins are relatively easy to find in auctions or collections for sale. A real connection with the past is quite achievable.
Whatever the starting point, there’s always a nudge of curiosity that gets you started. For older coins, it could easily be the smoothed profile of an historical figure, or a coin that commemorates a particular event in history – or even one with an important or interesting date. And perhaps today’s coins will tell their own story: what about coins minted in 2016, or those from 2020. Will tomorrow’s collectors recognise their significance?
In fact, it is the very personal link with the past – thinking about what the coin represents and who may have handled it – that makes a coin collecting such an engaging hobby and, over time, a real passion.
It is thought that the ancient Romans used tokens, albeit selectively. In Britain more recently, most commercial tokens were produced unofficially to stand in for small change, in times when the monarch and the Royal Mint did not produce enough coins to satisfy demand. Because of this, they were often tolerated by the government.
The first large scale occurrence in Britain seems to have been under King James I, when farthings (a quarter of a penny) were first produced in copper. Although minted with the King’s approval, they quickly came to be seen more as tokens than coins, because they could not be exchanged for their face value in silver.
In Britain, the 17th and 18th centuries were intermittently plagued by shortages of official coin. Often this was as a result of a lack of silver due to the cost of numerous wars, or a reluctance by the government to tackle the job of reforming the currency. It was not until after the Napoleonic wars that long lasting changes were made that took tokens out of widespread circulation.
Don’t know where to start?
It is the element of chance that is one of the attractions of numismatics – the art (perhaps it is a science) of collecting coins. However, you can quickly narrow your focus and there are lots of resources available to help you.
For recent (post decimal coins) in the UK, it is typically quick and easy to find out more about unusual specimens. For example, when searching for decimal commemorative coins from the UK, check out the Change Checker website or Change Range website.
For new collectable coins, the Royal Mint produces a regular supply of new feature coins and collections. For example, 2021 has seen a limited edition 50p coin commemorating the 100th anniversary of the discovery of insulin, the fifth coin in the Innovation in Science series. There are also new uncirculated versions of The Snowman 50p, depicting the now famous character from The Raymond Briggs story of the same name.
Perhaps most fascinating in 2021 has been the Seymour Panther in the Royal Tudor Beasts Collection. The Seymour Panther was a gift from Henry VIII to Jane Seymour, his third wife. Although the stone beast has with flames coming from its mouth and ears, the it symbolised a peaceful and loving union between the king and consort who bore him his only male heir. Based on a £5 coin, it is available as a Brilliant Uncirculated edition, and in gold Proof and silver Proof editions – all worth more than £5!
These sites, and others, make research easy and will broaden your horizons to include to coins beyond these shores, even if you stop at the Channel Islands or the Isle of Mann.
Coins: something flat and round, with a sense of perspective
Coins and coin making, including the history of the process and how coins changed and were used, is an amazing way of accessing the past, not to mention the history of coin collecting itself. Coins in collections are, by definition, surplus to requirements and so collections often represent periods of economic prosperity or the wealth of fortunate individuals.
However, don’t dismiss the random collections of previous amateurs. Sometimes they can contain hidden treasures.
How and why coins were made – especially what they were made of – is another area of research. From Saxon coins made to trade with the Holy Roman Empire (which set the model for pounds, shillings and pence) to why metals were debased over time; all these provide a unique way to access and understand the past.
An early numismatist, James Conder, not only issued tokens for his own drapery business in Ipswich, but also collected and catalogued other tokens from around the country. The much later discovery of part of his collection has lent his name to British tokens from this period.
Conder tokens are much sought after. They range from fairly modest tokens issued by pubs and small businesses, to genuinely coin-like objects – such as those issued by the Parys Mine Company of Anglesey in the 1780s.
The thrill of the chase
There are two ways to get started or build on your initial interests.
Presented with a ‘new’ coin, you’ll start your own research. How old is it? Who is on the obverse (the front) and who or what is on the reverse? How long was it in circulation? What is it made of? Who made it? Who designed it? Was it milled (machined minted) or was it hammered coinage, struck by hand? Is it a mint error? Such questions are the tip of the iceberg, as each one will trigger its own additional queries and discoveries. At each step, another door to the past swings open. And, of course, remember to check whether it is genuine or fake?
Alternatively, you may have decided to collect coins according to a particular theme: maybe coins of a specific monarch, or those made during times of war, or just examples of one denomination – modern 50p or £2 pieces for example
If you use eBay, do so with caution. For many, it is a great resource but it is becoming less popular with the numismatic community, partly because of the high volume of coin sales has attracted some people who are less scrupulous in their search for a quick profit. It’s a potentially good resource, but use it carefully.
The connection with ‘challenge’ links back to the days when a soldier might be challenged on returning to camp or barracks. Showing the coin was a way to prove membership and identity. More subtly, receipt of the token issues the recipient with the challenge to live up to the ideals of the unit to which he belongs.
Challenge coins are almost always round and will be decorated, sometimes enamelled, and often with lettering engraved round the edges. Their use now extends well beyond the military, and they have been used by businesses and civil organisations as well as private societies.
Coin collecting is not automatically expensive!
One of the many attractions of collecting coins is that it is generally inexpensive. Of course, large sums do change hands for very rare coins, but mostly it is easy to buy and sell small ‘lots’ of mixed coins for modest amounts, or to track down individual coins without huge expense.
If you do your own research carefully, it is almost always possible to find out enough about any given coin to assess its potential value, and its worth to you.
If you’re stuck for a particular piece of advice, get in touch with a community group like Passion Coins which exists to share information – and to share the love of coin collecting!
Numismatists (generally!) get on well together
A big attraction of coin collecting is its relaxed and collaborative ethos. That said, even the most modest collector is apt to get competitive when looking for ‘that special coin.’ However, even then collectors will often help each other out and these ongoing conversations are a relaxing backdrop to other activities.
Whatever your level of experience, do as much of your own research as you can. You’ll get used to adjusting online search terms and there are also important printed guides like Spink’s Coins of England and the United Kingdom. Once you’ve done some background research, start engaging with the community. Visit coin fares, specialist shops and auctions. With the latter, online or in person, set a sensible maximum to spend and be cool, calm and collected. It’s easy to get caught up in the moment, but if you are disciplined about what you spend, the long term enjoyment is much greater.
Once started, you’ll find that quite quickly you are building your own network of friends and acquaintances – plus you’ll probably acquire some great coins along the way!