Coin collecting, then and now

Since the beginning of time, there needed to be a form of exchange. In early history, before the advent of coinage, other commodities were used.

When the first coins were struck, collecting began. I can't imagine having only a few types of coins to collect. These days, there are so many to choose from, even kids can collect statehood quarters out of their pocket change.

Some old-time collectors tell me about getting silver coins from people they delivered newspapers to - think of that! A silver coin now is worth 25 times its face value. Others talk about how Grandpa or Uncle John gave them a silver dollar at Christmas or on each birthday. Both of these instances can lead to collecting.

I have met many who were youngsters in the 1950s and '60s who have the nicest and most extensive collections I have ever seen. To begin collecting, all you really need to do is find something you like, start buying, and keep track of what you have. There are lots of coins that may never go up in value, but that should not be the only reason to collect.

If you like the look of a Presidential dollar, it may only cost you $1 each to put a set of them together. On the other hand, if you have some extra money, there are ways to collect and realize some increase in value. The study of coins and the precious-metal markets can help you in this endeavor. Coin clubs and shows are a great way to start or add to your collection. Coin clubs are educational, and some offer classes in grading coins. And grading coins properly, in my opinion, is the most important aspect of collecting.

You also will find many people in the club who share your exact passion. At coin shows, you will see 20 or so dealers at a small show and as many as 200 at a major show. There you will have many choices and be able to compare coins of like grades and decide which suits your budget.

Coins can vary greatly in condition causing wide price differences, making knowledge of grading that much more important. Being sure ahead of time about your wants will help you find just the right coin. I cannot stress education enough.

Be prepared and be specific, and coin collecting will be very enjoyable.

• Dan Wilson is owner of Downtown Coin and president of the Downtown Coin Club.