Is it possible to make money collecting coins?

Collecting coins can be considered an investment as well as a hobby. Coins appreciate in two ways; The value of the base metal of the coin (silver-gold-platinum) and the condition, rarity, or collectible value.

You can make money buying and selling coins, but you need to familiarize yourself with the coins you want to collect, coin condition and grading standards, and coin values. Based on the amount of capital you want to invest, you may want to look at popular coins like Morgan Dollars (silver), and American Eagles (silver and gold). Don’t rush, follow values on popular coin sites and eBay, and accumulate coins when you see a good deal. Coins graded (by PCGS or NGC) and sealed in clear cases have value that is verifiable. You also should develop a relationship with a coin shop, their advice could be valuable, and they may be a good source of investment grade coins as well.


This is a good article on Coin grading – Wikipedia.

My answer is straightforward; if you are interested in investment or actively building a coin business, you can make money – as long as you take the time to learn how to value the coins to buy shrewdly or make a profit selling.

Shameless self promotion – I write about coins in my blog, Pocket Change Riches

Thanks for the A2A.

How can I make money as a coin collector with no experience or knowledge?

Coin collectors don’t make money by collecting coins – they make money when selling all or part of their coins; sometimes to profit, sometimes to liquidate part of a collection, sometimes to pay bills.

Collectible coins are an accumulated or acquired asset. You are in a position to make money with coins when you can sell them for more than what you paid.

Most collectors (myself included) have a fondness for coins and collect for fun. If you approach coin collecting as a business, You can make money, but you need to learn the market. Your coin collection becomes inventory, you need to manage it, track your costs, advertise, and buy and sell to build up your business. Some coins may have value but not sell well; a downturn in the market may cause a downturn in your business.

If you are truly interested in coins as a business (and you need to treat it as such) I would suggest educating yourself as to what coins can make a profit, which coins sell quickly vs. sit on a shelf, and what kind of investment you want to make in your coin business.

Making friends with a local coin dealer, and going to shows is also helpful – their experience and advice can be invaluable.

To recap:

  • Decide whether you want to be a collector or coin dealer/trader
  • Treat coin collecting like a business, not a hobby
  • Learn as much as you can about grading and coin values
  • Track prices in the coins you want to inventory and sell
  • Make friends in the business, you will benefit by knowing them

Books that may help:

A Guide to Coin Collecting: A Guide to Buying, Selling and Finding Coins Online (Amazon)

Pleasure & Profit: 100 Lessons for Building and Selling a Collection of Rare Coins (Amazon)


Dumb People Can Make Money in Coins

How to Make Money as a Coin Collector

Get the Inside Scoop on Buying and Selling Coins

YouTube video (one of many):

Thanks for the A2A! (This question originally appeared on Quora)

I wish you the best of luck in your numismatic endeavors!

Disclaimer: I blog about coins on my site, Pocket Change Riches