Guide to Coin Collecting

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"All theory dear friend is grey, but the golden tree of knowledge of actual life springs ever green."
	Goethe

The best way to discover more about coins is to handle them and talk to professionals and fellow collectors. This is far easier than it initially sounds. Dealers and the specialists at auction houses are always prepared to give guidance to newcomers to the world of coins. Just a few minutes spent with a professional numismatist looking at coins will be invaluable. There are also numerous coin clubs and societies throughout the UK where you can meet fellow collectors.

It is worth bearing in mind that members of the British Numismatic Trade Association (BNTA) have to adhere to a strict code of conduct. Look for the BNTA logo in advertisements.

A list of BNTA members may be obtained from the organisation’s Hon. Secretary at BNTA, PO Box 2, Rye, East Sussex, TN31 7WE. Of course, one of the best ways to see as many dealers as possible is to visit a coin fair. The flagship fair in the UK is the BNTA’s annual Coinex that is held in London in early October.

However, there are others throughout the country. For details see Coin News. For a complimentary copy visit www.tokenpublishing.com.

The majority of dealers issue lists of coins that are available for purchase, while some feature stock on their website. These may vary from simple typed listings to well-presented illustrated publications or websites containing articles and pertinent editorial comment. The oldest publication is Spink’s Numismatic Circular.

This first appeared in 1892. It is published six times a year and each issue contains selections of coins ranging from the earliest of times right through to the present century. Items listed frequently range from a few pounds through to several thousand. Details of dealers’ lists are generally found in their advertisements that appear each month in Coin News. Most dealers make a small annual charge to cover the printing costs and postage. However, most will provide a sample list without charge.

Coin auctions are also held regularly in London and also in the provinces. While all produce sales catalogues, some auction houses also have details of their sales on their websites. By studying the prices realised at auction and those quoted in dealers’ lists, you will be continually kept up-to-date with market prices. It will also be a good way assessing how a coin’s attributes and defects translate into financial terms. Illustrated dealers’ lists and auction catalogues perform another very useful purpose. If the photography is good, you will be able to compare the written description with the illustration of the coin itself. A useful self-educating game is to look at the photograph first and compare your own identification of the piece and assessment of its condition with the given description.

Nevertheless, however good the photography in a catalogue or list, it is no real substitute for handling actual coins. The established professional dealer will always find time to pass on their knowledge regarding grading and any other aspect of numismatics, to those who are genuinely interested in learning more. In addition to periodic visits to reputable dealers, it is also well worthwhile considering joining a national or local coin society. For a list of coin clubs in the UK go to The British Association of Numismatic Societies website at www.coinclubs.freeserve.co.uk. This site has many useful links.

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