Coin Collecting – About Rare Coin Collecting

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Coin collecting is a big past time and is still going on string. It is one of the few hobbies that has also managed to engage children in taking up the subject. People collect coins for two main reasons, either for fun or for profit. It doesn’t matter which one they are doing it for, they will at some stage come into trying rare coin collecting. In this article I will explain about rare coin collecting.

What Are Rare Coins?

Rare coins are coins that managed to survive during economic instability. For example due to a shortage of copper during the year 1943 all the pennies instead of being made by copper were minted using steel. There are also many other incidents where things like this happened and these coins soon became rare coins. These coins are amazingly hard to find which is why quite a few people keep away from it.

Where To Find Rare Coins

I can’t give you an exact location of where you can find these coins from but I can give you a guide. If you are looking for a rare coin that was made in America, then the first place you look is…America. Even though the coin may have been moved to a different country, you will have a better chance finding it where it has said to have been.

Another way to find rare coins is to go to auctions. Various coins can be found at auctions, you just have to look in the right place. However, you need to know that auctions can become very expensive. You won’t be the only one bidding on that coin, for instance in an auction the $20 Saint Gaudens was sold for $8 million in an auction.

Are They Profitable?

Of course! As you have just read in the previous section the Saint Gaudens was sold for $8 million at an auction. That is a lot of money for a rare coin eh? You need to remember that many people are looking for rare coins and they may be paying a lot of money to get their hands on them.

Whatever reason you are looking to collect rare coins (profit or for fun) you need to know that they are hard to find and that they are considered a work of art and like art work they may be priceless.