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 coin collectors. Show all posts
Showing posts with label coin collectors. 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.
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