Name: Alok Kumar Goyal Age: 44 years Claim to fame: Collecting coins is this software consultant's passion. His collection — spanning three decades — includes not just coins used across the globe but also special commemorative ones. He has lost count of the number of coins he has. The quantity is matched by quality. Goyal has 62 sets of Republic India (which focus on developmental issues and leaders like Gandhi and Netaji), coloured coins from across the globe and coins to commemorate international women's year, international children's year and the first world science conference in India. The value of the rare coins is over Rs 40,000 each. Early start: Goyal began collecting coins as a child. "My father used to get the special collections from the Reserve Bank of India. That's how I developed my interest," he says. He constantly keeps in touch with fellow collectors and mints to learn about the new coins in the market. "I spend my free time on the Internet, trying to find out about new coins and exchange extra coins for the ones I don't have," says Goyal. His latest acquisitions are coloured coins in various shapes and sizes. He has coins from the US shaped like guitars, motorcycles, fishes and butterflies. "Coloured coins are a rage now but India does not produce such coins," he says, showing off his new cat coin collection from the UK. Business sense: "Coins are good investments in India. After the mint stops producing a collectors' edition coin, its value can double in three months," says Goyal, who spends between Rs 8,000 and Rs 10,000 every month to expand his collection. One of his favourites is the silver-coloured series depicting Queen Elizabeth II at different stages of her life. Another coin he likes was produced by Somali Republic to commemorate Mahatma Gandhi. It depicts the three monkeys. Among Goyal's prized possession is a set that Princess Diana brought to India. It contains coins etched with an image of her and Mother Teresa and of her holding baby Prince William. Other uses: Goyal is using his coin collection to teach his two sons about places and people. "I give them a coin and ask them to gather information about the place it is from or the people it is commemorating. This keeps the boys interested." |
| CHANDREYEE CHATTERJEE |
Showing posts with label collecting coins. Show all posts
Showing posts with label collecting coins. Show all posts
Friday
Coins shaped like guitar
Saturday
Antique Coins Collecting for Fun & Profit
By James Ross
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You only have to look at how busy the coins section is on Ebay to know that coin collecting is an incredibly popular activity. It's one of the most popular hobbies around and one of the most profitable too.
Finding coins to collect is easy but finding ones that are actually valuable to collect is the challenge faced by most collectors. As a rule of thumb, the older the coins is the more collectible it becomes as often they are more rare than more modern coins.
The best place to find Antique coins include auction houses, coin shows, coin fairs and malls. But if you are more serious you should visit historical sites where antique coins are more likely to be found. You should bear in mind that the value of Antique coins depends on where it from as well as the age and historical background of its origin. Therefore buying at the historical location gives you a very good advantage over other collectors.
There are a few other pointers you might want to consider when buying an antique coin.
Firstly make sure the coin you wish to purchase is original. This goes without saying but there are many replicas and even counterfeit coins flooding the market, so close inspection to validate their authenticity is a must.
When you start off your coin collecting hobby, start slowly if you are on a low budget. Then as your portfolio of coins increases in value you could re-sell some of it at a profit and buy more valuable ones. If you find a coin that you think is a valuable addition to your collection make sure that you find an appraiser that can determine the value so that you do not get ripped off. So don't try to value it yourself unless you are quite experienced, and seek the help of professionals when the circumstances dictate like when the coin is quite expensive.
You need to specialize when you start collecting Antique coins so choose one particular era or country to focus on. This will make it easier for you to become an expert. You must also take good care of the coins to ensure you preserve their appearance and thus their value. And be careful not to clean Antique coins to excess otherwise you might actually depreciate their value.
Coin collecting can really be a source of great fun and taking it up as a hobby is probably one of the best decision you can make. As long as you remain patient it will be a long term hobby bringing you plenty of satisfaction for years to come as well as a very profitable investment.
Finding coins to collect is easy but finding ones that are actually valuable to collect is the challenge faced by most collectors. As a rule of thumb, the older the coins is the more collectible it becomes as often they are more rare than more modern coins.
The best place to find Antique coins include auction houses, coin shows, coin fairs and malls. But if you are more serious you should visit historical sites where antique coins are more likely to be found. You should bear in mind that the value of Antique coins depends on where it from as well as the age and historical background of its origin. Therefore buying at the historical location gives you a very good advantage over other collectors.
There are a few other pointers you might want to consider when buying an antique coin.
Firstly make sure the coin you wish to purchase is original. This goes without saying but there are many replicas and even counterfeit coins flooding the market, so close inspection to validate their authenticity is a must.
When you start off your coin collecting hobby, start slowly if you are on a low budget. Then as your portfolio of coins increases in value you could re-sell some of it at a profit and buy more valuable ones. If you find a coin that you think is a valuable addition to your collection make sure that you find an appraiser that can determine the value so that you do not get ripped off. So don't try to value it yourself unless you are quite experienced, and seek the help of professionals when the circumstances dictate like when the coin is quite expensive.
You need to specialize when you start collecting Antique coins so choose one particular era or country to focus on. This will make it easier for you to become an expert. You must also take good care of the coins to ensure you preserve their appearance and thus their value. And be careful not to clean Antique coins to excess otherwise you might actually depreciate their value.
Coin collecting can really be a source of great fun and taking it up as a hobby is probably one of the best decision you can make. As long as you remain patient it will be a long term hobby bringing you plenty of satisfaction for years to come as well as a very profitable investment.
Never miss a thing. Make Yahoo your homepage.
Wednesday
Coin Collecting as a Hobby
By Nicholas Tan
Most people engage in different activities that they consider hobbies. When people consider a particular activity as a hobby, it means that people find that activity pleasurable in that they enjoy collecting different kinds of coins.
In this context, it does not necessarily follow that the coin collector will focus more on the monetary value of the coins. When the focus of coin collecting delves more into the monetary value of the coins than the gratification the collector obtains, it is no longer deemed a hobby but an investment.
History tells us that the main reason other generations collected coins was the value that coins would someday attain. The ancient form of coin collecting was even labeled a hobby "fit for the kings" because ancient coins were so valuable that only the kings were capable of collecting them.
Today's coin collection is no longer limited to the "kings" or the affluent. Anyone can now consider coin collecting as his or her hobby. The popularity of coin collecting continues to flourish as more and more people collect coins. That is why it is now known as the "King of Hobbies".
Why Such Popularity
One of the many reasons coin collecting is considered by many as one of the most popular hobbies in the world is based on its ease of access.
When somebody wants to start coin collecting, he can start any time, anywhere. Some people start coin collecting with the coins that they have in their pockets. This phase of coin collecting is known as the "accumulator" stage, where collectors try to accumulate as many coins as they can often using their "pocket change".
After the collector gets the "hang of" accumulating coins, the hobby becomes more expensive. This is because true hobbyists are willing to pay the price as long as a particular coin will enhance their collection and will beauty to their "masterpiece". And the rest, as they say, is history.
Coin collecting as hobby is a pleasurable activity that any person can use to create a feeling of gratification..
In this context, it does not necessarily follow that the coin collector will focus more on the monetary value of the coins. When the focus of coin collecting delves more into the monetary value of the coins than the gratification the collector obtains, it is no longer deemed a hobby but an investment.
History tells us that the main reason other generations collected coins was the value that coins would someday attain. The ancient form of coin collecting was even labeled a hobby "fit for the kings" because ancient coins were so valuable that only the kings were capable of collecting them.
Today's coin collection is no longer limited to the "kings" or the affluent. Anyone can now consider coin collecting as his or her hobby. The popularity of coin collecting continues to flourish as more and more people collect coins. That is why it is now known as the "King of Hobbies".
Why Such Popularity
One of the many reasons coin collecting is considered by many as one of the most popular hobbies in the world is based on its ease of access.
When somebody wants to start coin collecting, he can start any time, anywhere. Some people start coin collecting with the coins that they have in their pockets. This phase of coin collecting is known as the "accumulator" stage, where collectors try to accumulate as many coins as they can often using their "pocket change".
After the collector gets the "hang of" accumulating coins, the hobby becomes more expensive. This is because true hobbyists are willing to pay the price as long as a particular coin will enhance their collection and will beauty to their "masterpiece". And the rest, as they say, is history.
Coin collecting as hobby is a pleasurable activity that any person can use to create a feeling of gratification..
The Basics of Coin Collecting
By: Nicholas Tan
Coin collecting is said to be the "Hobby of the Kings." Coin collecting is different from money hoarding. Collecting coins as an art form can be traced back to the 14th century. Today, people all over the world are collecting coins. Some collect it for their value, some just like the sheer fun that they get from getting their hands on different coins.
If one is interested in making coin collecting a hobby, he can very well do so. It is a hobby which does not require a certain skill and it can be done by almost everyone.
There are many different kinds of coin collectors. There are those who do it for fun, and others do in a more serious manner.
Informal coin collecting
Most coin collectors, especially the children, start out as informal coin collectors. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods without any intention of being serious about it.
Inquisitive coin collecting
Once the informal coin collector starts noticing the details of the coins, he becomes an inquisitive coin collector. This kind of coin collector won't bother much into spending money to get coins. He merely wants to appreciate the coins. Soon, he will start to put them in containers or albums.
Advanced coin collecting
An advanced coin collector will collect coins with a specific target in mind. He may want to collect coins from a certain nation, or a certain time period.
There are many tracks which coin collectors pursue when engaging in their hobby. Here are some of the ways one can use in collecting coins:
Coin collection according to nation
Many coin collectors would want to collect coins from a certain nation during a certain period of time. This kind of coin collection lets the collector travel the globe through the coins. People may want to collect coins from countries they had visited.
Historical coin collection
Another way of collecting coins is by taking in mind history. Many coin collectors engage in collecting coins during a certain period in history like wars or declarations of independence.
Error coins
There are people who find collecting coins with errors exciting because these kinds of coins are rare nowadays.
There are many ways to collect coins and each way is as fun as the other. One must feel the hobby first before he decides whether to stick with it or not. Coin collecting can require certain amounts of money and the collector must be wise in engaging in such a hobby.
Coin collecting is said to be the "Hobby of the Kings." Coin collecting is different from money hoarding. Collecting coins as an art form can be traced back to the 14th century. Today, people all over the world are collecting coins. Some collect it for their value, some just like the sheer fun that they get from getting their hands on different coins.
If one is interested in making coin collecting a hobby, he can very well do so. It is a hobby which does not require a certain skill and it can be done by almost everyone.
There are many different kinds of coin collectors. There are those who do it for fun, and others do in a more serious manner.
Informal coin collecting
Most coin collectors, especially the children, start out as informal coin collectors. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods without any intention of being serious about it.
Inquisitive coin collecting
Once the informal coin collector starts noticing the details of the coins, he becomes an inquisitive coin collector. This kind of coin collector won't bother much into spending money to get coins. He merely wants to appreciate the coins. Soon, he will start to put them in containers or albums.
Advanced coin collecting
An advanced coin collector will collect coins with a specific target in mind. He may want to collect coins from a certain nation, or a certain time period.
There are many tracks which coin collectors pursue when engaging in their hobby. Here are some of the ways one can use in collecting coins:
Coin collection according to nation
Many coin collectors would want to collect coins from a certain nation during a certain period of time. This kind of coin collection lets the collector travel the globe through the coins. People may want to collect coins from countries they had visited.
Historical coin collection
Another way of collecting coins is by taking in mind history. Many coin collectors engage in collecting coins during a certain period in history like wars or declarations of independence.
Error coins
There are people who find collecting coins with errors exciting because these kinds of coins are rare nowadays.
There are many ways to collect coins and each way is as fun as the other. One must feel the hobby first before he decides whether to stick with it or not. Coin collecting can require certain amounts of money and the collector must be wise in engaging in such a hobby.
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