Coin collecting is a hobby. It is where coin enthusiasts collect or trade coins among coin collectors and coin dealers. Coin dealers are people who collect coins and sell or trade valuable coins to other coin enthusiasts. Coins collected are the ones that have only been in circulation for a limited time. There are different types of coin collectors. There are the casual coin collectors, who only collect coins that they have found by chance and don’t usually seek out coins. The hobbyist, who collects coin for fun, are kind of like casual collectors, but they seek out rare coins to add to their collection. The Generalists collect different varieties of coin from different countries throughout time. Then there are the Completists, who seek out specific coins in hopes of collecting every type of coin within a specific coin category.
Coin value is determined by how long it has been in circulation, its rarity, its condition, and how old it is. The older the coin, the higher its value becomes. However, not all old coins are valuable. They are only deemed valuable if they are in mint condition. Coin collectors have a set system to help them determine a coin’s value and worth.
Morgan dollars are one of the most coveted coins in coin collecting. It is a United States dollar coin that was in circulation from 1878 to 1921. It sports Lady Liberty’s face on the front and an eagle clasping arrows and an olive branch on the back.
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