Starting a coin collection

Coin collecting is one of the easiest hobbies to start and one of the hardest to put down. You can begin with a few pounds or a single special coin, and a collection grows into something with real history behind it. Here is how to start well.

Choose a theme

The collections that last are built around a theme. It might be a monarch (Victoria, George V, Elizabeth II), a decade, a denomination such as the sixpence or the crown, a single mint, or a subject like commemorative coins. A theme keeps your buying focused and makes the collection more satisfying, and more interesting to others, as it grows.

A good first step: proof coins and sets

Proof coins and sets from The Royal Mint are a popular place to begin. They are struck to a higher standard, with mirror-like fields and frosted designs, and usually arrive in their original cases with certificates. Year sets also make good gifts, as they mark a birth year or anniversary.

Know what a coin is made of

British silver coins changed over time. Coins up to 1919 were struck in sterling silver (92.5%), coins from 1920 to 1946 in 50% silver, and from 1947 everyday “silver” coins were made of cupronickel with no silver at all. Gold sovereigns and half sovereigns are 22 carat gold. Knowing this helps you understand why two similar-looking coins can have very different values.

Understand condition

Condition, or grade, makes a huge difference to value. In the UK you will see terms running roughly from Fine (clear wear, details visible) through Very Fine and Extremely Fine (light wear on the high points) to Uncirculated (no wear from use). Proof coins are a separate, special finish rather than a grade. Look at the high points of the design, such as the hair on the monarch’s portrait, as these show wear first.

Handle and store coins properly

• Hold coins by the edge, never the faces, as skin oils leave marks over time.
• Never clean a coin. Polishing or dipping removes the original surface, or patina, that collectors value, and can wipe out most of a coin’s worth in seconds.
• Use the right holders. Keep coins in their capsules or in holders and albums labelled PVC-free, as soft PVC can leave a green residue that damages coins.
• Keep them dry and away from damp lofts and garages.

Paying a fair price

Check what similar coins have actually sold for, not just what they are listed at. Condition, rarity, the year and whether the original box and certificate are present all affect price. Buy the best condition you can afford: one good coin usually holds its value better than several poor ones.

Start your collection with us

We stock British coins, silver coins, gold, commemorative and proof sets, all photographed clearly so you can judge condition for yourself.

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