coins & paper money

Malaysia
August 7, 2011 4:25am CST
When it comes to coins and paper money, the collector collect them depends on what? What essential things they have so that it can be valued? As I know, the older it is, the more value it has. What is your opinion?
1 person likes this
2 responses
@wmraul (2557)
• Bucharest, Romania
7 Aug 11
Starting to collect something do not require to first know some rules or methods. It start like a hobby, it has to be a hobby, else will be something you will leave behind. So, making collections (no matter what) will start an amateur level. In time, when you'll see your collection is grown up and start to have identical pieces several times, you then look for fellows with same passion and also start reading books and articles about. Then you will test your ability to have seen, predict, felt, that some things are quite non-valuable and other are very rare. Just to come back to coins and banknotes, there are few things to consider, beside the age: - how they look like - usage, erased details - how many were back there printed - some have been so many there is full market, everybody have, equal low value. Some of them may value almost nothing in bad shape and lot of cash in perfect shape. Some of coins were made by gold or silver and can have just the value of precious metal are made of or who knows what higher value because of what was the reason was made for. In this category of collectibles are also treasury notes, diplomas, medals, anniversary coins and so on.
• Malaysia
8 Aug 11
Yes you're right. In order to dig deep into this field, one must has interest on it; that's why they needed to start it as their hobby. I ha look into some eBay pages and found that some coins collectors also collect coins that wrongly printed. They sold in very high price. I think it is due to the rarely of that stuff as it is not seen in the market.
@owlwings (39768)
• Cambridge, England
7 Aug 11
Value is really based on three things. The rarity of the item, its quality (in relation to others of the same type) and its desirability. Clearly, the older something is, the rarer it is likely to be and the fewer items of its type are likely to be in 'good' or 'fine' condition. A collector's ideal is usually to have objects in his collection which are in the best condition possible and he will, of course, pay more for condition. The main influence on the price (and therefore the 'value' in the sense meant here) of something is, however, the fact that more than one person is collecting the same kind of thing. When they bid against each other to own a particular object, the highest bidder wins and the price that he is prepared to pay is called the 'value'. In the case of coins, this may be much more than the face value or the value of the metal, if the coin is in good condition and rare.
• Malaysia
8 Aug 11
You mentioned the main point here, "the older something is, the rarer it is likely to be" it explains the reason for old things value much. For the collectors, one thing they might afraid is that they paid for fake thing with higher price. In this case, they need to be experience enough to differentiate the fake and real items.