Having recently posted a blog on hobbies I wanted to begin highlighting some hobbies of interest. One of my personal hobbies is collecting silver coins. Many collectables have value, but I was initially drawn to silver because it has value not only as a collectable but also as a precious metal. It’s a two-for-one.

Beginning a silver coin collection is easier than you might think. There are a lot of coins available, and many are easy to find and affordable. You can even begin with coins that are currently in circulation as currency. This is a great way to get started on a collection for a child, as their collection will have time to increase in value as they grow older.

The value of silver itself isn’t the only enticing reason to collect silver coins. Silver coins are rich with history. Each coin comes with a story about the economic, political, geographical, and artistic influences that combined to create it. In 1915 three highly regarded sculptors were given the opportunity to submit designs for a new US half dollar. German born Adolph A. Weinman was awarded the opportunity to design the coin. His creation, the Walking Liberty Half is considered one of the most beautiful and simultaneously patriot designs in American history. On this coin Lady Liberty is in full stride walking toward the rising sun holding an oak and laurel branch symbolizing civil and military victory. This coin paints a poignant picture of the influence of early immigrants, and the strengthening patriotism of a nation on the verge of its first world war. Roughly 2 million of these coins were produced. That number, while low by today’s standards, makes sense in a time when a half dollar could buy an entire basket of groceries.

Then there’s the fun factor – seeking out silver coins lets you become a detective and a treasure hunter. Take the Morgan Dollar, one of the most widely collected silver coins. These coins range in value dependent upon the coin’s date, the mint where the coin was created (or “struck”), the quality of the strike (which can be largely determined by the mint of origin), the mold used (there were three designs), how many other coins of the same year, design, and mint of origin were produced and how many still exist in circulation. Using your skills to locate and acquire a rare coin can bring quite a bounty.

Finally, money is incredibly impactful on society; hence the study of the creation and circulation of money is a good way to begin to understand a society as a whole… past or present… local or foreign. Check out the Rich Dad video for a stark, yet interesting observation.

Resources to learn more:

Websites:

• http://silvercoinand.com
• http://www.silvercollecting.com
• http://www.telecoins.com/faq.html
• http://www.essortment.com/all/coinsnumismatic_rneh.htm
• http://www.coincollectorguide.com/coin-collecting-is-much-more-than-a-hobby-for-kids

Videos (You Tube):

• Spare Change – Ep. 2 Morgan Dollar
• Rich Dad - Gold & Silver

Books (Amazon):

• Unusual World Coins: Companion Volume to Standard Catalog of World Coins Series
• Whitman Coin Collecting: Starter Set
• Coin Collecting For Dummies
• Handbook of United States Coins 2009: The Official Blue Book
• The Complete Illustrated Guide to Coin Collecting: How to start and build a great collection: the complete companion to world coins from antiquity to the ... cataloguing, buying and selling
• History Of The United States Mint and Its Coinage