Coin Collecting: Bringing Us More Value Than We Thought

| 1/1/2020 3:03:00 PM


Did you know the history of coins mirrors much of the history of humankind? Since the invention of money, countries have minted coins for standardized currency. Many coins fall out of circulation, becoming archaeologically significant.

But what about coins still occasionally found in circulation? Believe it or not, they have value (more than a nickel), more so as people move from cash currency to digital. How can you get started collecting coins, and why should you? There are a million reasons and the least of which is not more jingle-jangle in your own pocketbook!

Why Collect Coins?

Multiple reasons exist that explain why people collect coins and why you should start too. One is that coins serve as valuable educational tools. For example, when was the last time you looked at the date on one of your coins? What was happening that year? Are you old enough to remember? If not, hop on trusty old Google. It's fascinating what you can learn when you fall down a Wiki hole.

In addition to learning new things for yourself, you can elevate your children's learning. Coins teach history, but that isn't all. You can use the value of a coin today versus its original issue value to teach both economics and math. Children can learn about the value of compounding interest over time as well as how to perform basic computations like figuring out an increase in value.

Speaking of children, coin collecting, or numismatics, provides another vehicle for passing down wealth through the generations. You'll never look at your countertop change jar the same way when you realize that what cluttered your pockets today can pay for part of your grandchild's education tomorrow. Coins generally appreciate in value over time, and certain ones do so at exponential rates.

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