Why do people collect coins
A coin to most people is just a small round piece of metal used daily to facilitate an exchange. However, people became astounded when they realise the numismatic coin market is worth billions and coin show in Singapore alone attracted more than 10,000 attendees.
Suddenly, this shiny little object is worth another look. In this article, we reveal the reasons why people collect coin.
“Collecting is an emotional response to our interest that could not be rationalised”
1. Coin Collecting as a Hobby
The instinct to collect runs deep in many of us. Ladies seeking the latest bag as part of fashion, sneaker collection for the gentlemen and even wine collecting among the exquisite.
Collecting is an emotional response to our interest that could not be rationalised. When it comes to coin collecting, people often purchase the art depicted on the coin. You could be a fan of Marvel, having a love for dragons or even a devotion towards your religion. The collectible coin market covers them all.
2. An Investment
The 1794 flowing hair silver dollar believed to be the first such coin struck by the U.S. Mint, was auctioned for a record 10 million USD back in 2013. On a smaller scale, the 1983 10 Yuan PF UC Silver Panda Coin, the first silver panda coin the China Mint released is valued at $12,000 USD.
Aside from the length of time, the scarcity of the collectible coin also affects its value. Modern day collectible are minted in limited quantity and could follow a series to add on to its collection value. The Gods of Olympus series by the Mint of Poland is an example. There are 2 coins (Zeus and Hades) released so far with each having a mintage of just 500 coins.
3. To own a piece of history
The world rejoice on 12 June 2018 when U.S. President Donald Trump and North Korean Supreme Leader Kim Jong-un signed a joint statement in Singapore agreeing to security guarantees and working towards world peace.
To commemorate this historic summit, the Singapore Mint released 15,000 silver proof medallion (coin without face value) for balloting. The issue was oversubscribed and a second issue was released due to overwhelming response.
4. To mark a milestone
Similar to watches, a coin could be used to mark a milestone in our life. Be it for your 21st birthday, your wedding day or even to celebrate a career achievement. A coin capture the moment perfectly. The year could be found on the obverse of the coin and the reflection of the coin bears the memory.
There are a lot of other reasons why people collect coins. It could be as simple as getting a gift or even to pass down their collection to the future generation.
As compared to other forms of collection or luxuries, coin collecting is considered a relatively inexpensive and fun activity with huge communities around the world. Numis Bullion welcome coin collectors around the world for your coin collecting needs.
https://numisbullion.com/why-do-people-collect-coins/
PS: Who doesn’t love collecting money :)
