Coin Collecting

My son is turning six and I would like to help him start a coin collection. I have never really collected coins but I think that it would interest him and I know that they increase in value. Do you have any suggestions for us as to the best way to begin?

Collecting is a great way for families to have a shared interest and it will span generations. Collecting of anything should be for pleasure rather than gain because, contrary to popular belief, most collectors do not get rich from their finds. Coin collections are nice because modern coins are usually at least worth their face value so there is little risk involved. A good way to start is by helping your son do a little research on coins through books and online. Some collectors specialize in coins with historical value, while others have a more general collection. Foreign coins are also nice to collect and they have good visual appeal because they often look like “treasure”. Your family could look through the coins that you have at home and learn to find the mint and date on the coin. There are also collectors that only keep coins that have some defect and some of these can be quite valuable. State quarters may be a good place to start your son’s collection. Resist the urge to invest in pricy coins unless you know the seller and have some idea of the authenticity of the coin. If possible, try to catch a few coin shows but remember that the value of a coin can fluctuate greatly depending on condition and the market. Most children prefer the hunt, more than purchasing, for a collection so it should be relatively easy to keep from making a huge investment. Big ticket coins are better left until your son has some experience as a collector.