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Types of Coin Collectors
Because there are multiple types of coin collections, it stands to reason there are also different types of coin collectors. Personalities, goals and interests play a big part in how different collectors approach their hobby.
People often approach coin collecting as a means to investment. The rarity, demand and condition of a particular coin can determine its selling price. Prices may drop and rise depending on the interest of other collectors looking for a particular coin, similar to the way stock prices rise and fall. For those who hope to invest in coin collecting, it is imperative to do extensive research in order to make informed purchases and sales amongst reputable resources.
Buddy Ebsen once said, "Collecting coins is the same as collecting art and history all at once." Coins are amazing reflections of the events that occurred during the time they were minted and circulated. Due to the significant history and legacy that coins epitomize, many collectors focus their hunt and collection on older or ancient coins. Those who collect coins for their historical significance view them as storyboards of the past or as reminders of the milestones that have been achieved to bring us to the events of today.
Art can be found in the every day, in the obscure, and even in your pocket! Coins both new and old are often collected, not for their monetary value, but for the art they represent and showcase. The depictions on coins teach us about history, culture and the growth of civilization. These depictions are what capture art aficionados' hearts. They recognize the incredible skill and patience that went into designing and creating coins' images from raw bits of metal into beautiful works of art.
Hoarders of coins are similar to investors and other collectors in the sense that their goal is to accumulate coins. They differ, however, because they do not focus on a particular type of coin. Hoarders are looking to amass and retain whatever coins they are able to find or purchase. This is often seen where the coin's metal value exceeds their spending value.
Some coin collectors become such through means of inheritance. They find themselves the holders of coin collections because another person was a collector. This recipient may not know anything about numismatics or the actual condition or value of the coins, but it is in their best interest to do research and learn as much as they can about their new collection.
