Hunting and collecting are two basic instincts that have existed as long as the human race. Also, the wish to possess something which very few people own is very much linked to human behaviour. All of these drives are mirrored in the practice of collecting.
(Image above, highlights a close up of one of our Product Managers collections)
Coins and medals are, besides stamps, amongst the most popular collectibles in almost every country of the world, and have been collected for thousands of years; in the east and west, in south and north, by young and old, and across all social classes.
Leading personalities as well as ordinary people are collectors of coins, and for many of them, it is their chief hobby. Compared to other hobbies, which may come and go and are often subject to trends, coin collecting is timeless and to a large degree free from the influence of fashion. The main reasons for collecting coins and medals are:
• The joy of collecting itself; owning precious and beautiful things and gradually building a collection.
• The desire to possess something that is also attractive to others.
• Historical interest, interest in specific themes featured by the coin or medal – or national pride and the wish to acquire items that symbolise the country and its identity.
• The desire to commemorate events, anniversaries or personalities that are important in the collector’s life.
• Buying items of lasting appeal regardless of trends and fluctuations in value – also intended as heirlooms for following generations.
• Enjoying the social aspect of collecting, by having a hobby to share, display and discuss with others.
• In later stages of collecting, the wish to have a complete collection, sometimes in order to show off to other collectors.
Even when people buy coins or medals regularly, they don’t necessarily see themselves as collectors. Nevertheless, even though we may not be talking to experts or buyers who see themselves as collectors, we have to make sure that the content of our information does not disappoint anyone.
Collecting is not usually an activity people plan to do, like joining a sports club or learning to play a musical instrument. It evolves gradually. For example, when someone collects all sorts of elephant-shaped items, they might have been initially attracted by a little statue of an elephant when on holiday in Thailand. Then they might have bought another one on the next holiday somewhere else – and before long, they find pleasure in searching for more such objects to fill their homes, and display cabinets.
People get their first coin or medal for different reasons: they may be attracted by a motif which they find interesting; they may want it for a souvenir of a certain event they have been to or are interested in; their interest may have been awakened through a desire to possess exclusive precious metal items; or they may have received the coin or medal as a gift.
As people keep collecting, the initial theme may well become less important, and it may be replaced or complemented by a more general interest in collecting per say. The closer the connection in time and theme between a new occasion and the coin they already have, the greater the likelihood they will continue to collect on an ongoing basis.
Are you interested in starting your new coin collecting hobby? If you’re new to coin collecting, the sheer variety of coins available can be a little daunting so how do you know where to start?
If you are interested in discussing your new hobby with our specialised team of agents, please call them FREE on 0800 6340300 where you can find more information on our wide array of products which could be the start of your new collection. Alternatively, take a look at our new page which celebrates the Queen’s 90thbirthday:
Source: London Mint Office