Creating a type collection is an exciting way for new coin collectors to start their journey. A type collection is when you collect one example of each design within a specific group of coins. This makes it both fun and affordable, allowing collectors to focus on history, art, or specific themes. Let’s explore how to create your first type collection and why it’s a great choice for beginners.
What is a Type Collection?
A type collection includes one coin from each design in a certain group. For example, you could collect all the different types of American quarters, coins with an American Indian theme, or even coins from around the world that feature ships. Another popular option is to collect 20th-century American coins, which are both interesting and affordable.
One famous type collection is the set of coins from the Kingdom of Hawaii, which only includes five coins. The diversity of coins makes this hobby engaging for new collectors, as there are many possibilities to explore.
Benefits of Starting a Type Collection
| Benefit | Description |
|---|---|
| Diverse Options | Choose from various themes like American coins, world coins, or historical coins. |
| Affordability | Collect only one example of each type, making it a budget-friendly option. |
| Visually Appealing | Completed sets make for great displays and conversation pieces. |
| Customization | Choose coins based on personal interests, history, or artistic value. |
| Simple to Start | Easy to begin with minimal research and financial investment. |
Steps to Start Your Type Collection
| Step | Description |
|---|---|
| Choose a Theme | Select a specific theme, like American quarters or world silver dollars. |
| Research | Make a list of coins needed for your collection based on your theme. |
| Set a Budget | Decide how much you are willing to spend on the collection and stick to it. |
| Uniform Condition | Try to collect coins in similar condition to maintain consistency. |
| Completion Time | Set a time period to complete your collection based on your budget and availability. |
Why Start a Type Collection?
1. Diverse Options
- There are many different themes and types of coins to choose from. You can focus on American coins, world coins, or even historical coins like those from the Kingdom of Hawaii.
2. Affordability
- Type collections are budget-friendly because you only need one example of each coin type. For example, a high-quality Mercury dime might cost around $5, whereas collecting the entire series would cost much more, especially for rarer coins like the 1916-D.
3. Visually Appealing
- A complete type set can make for a great display. There are many options for wall-mounted holders that allow you to showcase your collection in an attractive way.
How to Start a Type Collection
Starting a type collection is easy. Here are a few simple steps:
- Choose a Theme: Select a theme that interests you, such as American coins or world silver dollars.
- Research: Make a list of the coins you need for your collection.
- Set a Budget: Plan how much you want to spend and stick to it.
- Condition: Try to collect coins that are in similar condition so that your set looks uniform.
- Timeframe: Decide how long you want to spend on completing your collection.
If a certain coin is too expensive, you can choose to include a reproduction instead. This way, your set still looks complete without breaking your budget.
A Dollar Coin Type Collection
Numismatic News recently recommended a type collection that includes all the dollar coins issued in U.S. history. With the U.S. Mint currently releasing dollar coins to honor past presidents, it’s a great time to start a dollar coin collection. Though some early U.S. dollar coins are rare, collectors often prefer investing in these rare coins over buying several less valuable ones.
According to Numismatic News, spending $700 to $2,000 on a proven rare dollar coin is better than collecting many cheaper coins that might add up to the same amount. Although you’ll have fewer coins in your collection, owning a rare piece of history is often worth it.
Adding Variety to Your Collection
Once you’ve completed your basic type collection, you can always take it further. You could aim to collect coins in different conditions, like moving from Extra Fine (XF) coins to Almost Uncirculated (AU). Additionally, you can include variety coins—coins that show intentional changes in design, material, or minting process.
Conclusion
Creating your first type collection is a fun and affordable way to dive into coin collecting. With so many options to choose from, like historical themes or beautiful designs, you can build a collection that reflects your personal interests. Whether you’re looking to display your coins, invest in rare pieces, or simply enjoy the history behind them, a type collection offers endless possibilities. Start small, plan wisely, and enjoy the satisfaction of completing your very own type set.
FAQ’s
What is a type collection?
A type collection is when you collect one example of each design variation within a specific coin group.
Why are type collections popular with beginners?
They are affordable, easy to start, and offer a wide variety of options, making them perfect for new collectors.
What is a variety coin?
A variety coin is a coin with a noticeable change in design, material, or minting process that was intentionally made after the original issue.
Can I include reproduction coins in my collection?
Yes, if a coin is too expensive, you can use a reproduction to complete your set without going over budget.
Why collect rare coins instead of cheaper ones?
Rare coins often hold more value and provide a deeper sense of satisfaction, even if you collect fewer of them.