Monday, July 28, 2014

Why The Most Valuable Coins Can Be An Excellent Investment

By Jessica Drury

Collecting things have served as a rewarding hobby for people from all walks of life since time beginning. People seem to collect anything and everything. Indeed, some collections are strange, even bizarre. There are even museums dedicated to the collections of some famous people. Minted tender has always been the focus of many collectors all over the world. The most valuable coins are worth millions, although many collectors simply enjoy finding interesting samples.

There are many different factors that influence the motivation of collectors. Some simply build collections because they enjoy the look and feel of the tender. Others are classified as accidental collectors. These are people that inherited collections and that somehow become entranced themselves. There are also many collectors that see their collections as investments and a way to earn a profit by concentrating on collection coins worth money.

Most collectors concentrate upon a specific theme. Some only collect tender originating from a specific period, country or even a very specific mint. Others want only tender that originate from a very specific period. Then there are those purists that will only purchase tender that are made from a certain type of metal. There are also collectors that specialize in tender that feature a certain theme, such as plants, animals or heads of state.

The value of coins is determined, to a large degree, by supply and demand. However, tender that is in mint condition is often many times as valuable as samples that are in poor condition. The American Numismatic Association uses a scale ranging from one to seventy to rate the condition of a specific sample, with a rating of seventy describing a sample in perfect condition.

The first national mint in the United States was established in 1792, but it was only in 1794 that the first tender was produced. This was the Flowing Hair Dollar which is the most expensive coin in the world. A copy was recently sold for more than ten million dollars. This tender was minted for only two years and was replaced by the Draped Bust Dollar in 1795.

The rarest specimen in the world, and second most expensive, is the Double Eagle, a golden US 20 dollar minted tender. Half a millions was minted in 1933, but all of them, except two were melted down again. One remains in the possession of a private collector, who paid seven and a half million dollar for it in 2002. The other is part of the US National Numismatic collection.

Anybody inheriting a collection or contemplating such a collection as a hobby should do thorough research. The internet is a valuable source of information. It is necessary to decide upon a theme and it is generally advisable to join a registered club that can provide newcomers with valuable advice. Minted tender should always be purchased from registered and acknowledged experts in the field.

Collecting things can be an extremely rewarding hobby. Regardless of the reason why hobbyists embark upon the collection of minted tender, it is always a good idea to learn as much as possible about the tender collected. It is always important to make sure that collections are kept safe and that each piece is properly cared for. In many cases it is necessary to take out insurance.

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