Coin collecting: The only hobby where you can go bankrupt and still have money. Seriously though, as coin collectors, we’re part of an exclusive club of hobbyists who know way too much about all things numismatic. Whether you’re brand new to the hobby or have been amassing collectible coins for years, you probably have some of the characteristics that make a coin addict a coin addict. Here are a few of them.
- You Always Pay in Cash—Why? You won’t get change if you pay with a credit card, and we’re coin collectors, so…we want change. You probably won’t be receiving any Buffalos or American Eagles from the cashier at the drugstore, but you just might come across some of the more valuable collectible coins in circulation, like the coveted Wisconsin state quarter with the extra leaf, the 1995 double die penny or a1943 steel penny made during wartime. Plus, any true-blue coin-isseur knows that there’s just something special about the feel of real money, a novelty nowadays.
- Your Collection is Well-Organized—Diehard coin collectors don’t keep their stash of collectible coins just anywhere. They keep it neatly organized in coin flips that not only keep your coveted coins well-protected from the elements, but also keep them in order. Oh, and we know that you love to see how others organize their collections, too. Bonus points if you’re a collector who likes to put his collection on full display and get shamelessly excited when you get to compare collections with another connoisseur.
- You Own The Official Red Book of United States Coins—There are many important texts on coin collecting, but none are quite as relevant as this one. Considered the foremost authority on coin pricing, this handy little resource lets you know how much your prized specimens are worth. If you’re a serious addict, then you probably have several editions, including, of course, the latest one and refuse to get rid of last year’s issue.
- You Listen to Coin Collecting Podcasts—Do you spend your free time listening to other people talk about their coin collecting addiction? Then there’s a good chance you’ve got an addiction of your own. There are all sorts of coin pods out there that are worth your while, from The Coin Show to CoinWeek, that are probably clogging up the subscription list on your podcast app. Basically, when you’re not actively procuring coins, you’re learning all about them.
- You Own a Gold Testing Kit—If you’re a fan of collecting gold coins, then you’ve got to own a gold testing kit to ensure that your gold is real. These tools help ensure that your gold coins are authentic (not that you couldn’t tell with your well-trained eye, but just in case), because you never know about those special specimens you found at the flea market or yard sale.
- You’ve Visited a United States Mint—If you haven’t yet booked a tour of the United States Mint, it’s well worth the trip, to Philly or Denver, the two production facilities that offer tours. You might already know everything the tour guide has to tell you, but there’s nothing quite like seeing fresh-pressed pennies come off the press! It’s truly a must-do for serious coin collectors.
- You Fancy Yourself a Treasure Hunter—In addition to buying special coins online, you probably do a fair amount of treasure-hunting in your spare time. For many of us, treasure hunting takes the form of metal detecting. If you’re a coin collector who likes to acquire in a way that’s a bit less effort (and, let’s be honest, less of a let-down), then you might consider treasure hunting in face-value coin bags filled with junk silver.
You’re in a Coin Collectors Club—According to the American Numismatic Association (ANA), there are more than 400 coin clubs in the U.S. and other countries, and if you’re a coin freak, there’s a good chance you’re a member of one of them. If you’re not yet a member, check out the ANA’s coin club directory to find your local group.
Do You Fit the Bill?
If you answered “yes” to any of these questions, we’ve got news for you: You’re a coin collecting addict. The upside is that you’re in great company at Provident Metals. We’re here to help you preserve your collection and enhance it with investment-grade coins that you can pass down to the next generation. Sound appealing? Welcome to the club! You’re officially a coin-carrying member.