A lot of families are looking for ways to spend more time together. A great way to do this is to find a common interest, an interest that can grow with the children in the family. Coin collections offer a common interest to families, and that interest can grow as the child grows.
Once you and your child have decided that a coin collection would be fun, it’s a good time to remind yourself that this will be your child’s hobby, not yours! Another thing to remember is that it should be fun for your child, and that may not be the same as fun for you!
A young child’s idea of a coin collection might include a plastic box with separators in it and every coin in the house. This may not be your idea of a coin collection but remember this isn’t your hobby, it’s your child’s.
I know that there are all sorts of articles that discuss children’s coin collections as inheritances and/or investments. And, eventually that may be what your child’s coin collection will amount to. But during the early stages of the hobby, your ideas of future profits should not be the purpose of the collection.
Having fun with your child and letting him/her make the progression from a shoe box coin collection to a serious coin collections should be your primary reason for initiating the dialog about your child having a coin collection.
If you are really interested in the coin collection to foot the bill for things like your child’s college or his/her first house’s down payment, then you should be thinking about starting your own coin collection. If you have a money making coin collection alongside your child’s fun coin collection, then perhaps as your child gets older and if he/she wants to get more serious about collecting coins, you will have a collection to pass on to your child.
A fun way to get the coin collection started would be something as easy as emptying your wallet and accumulating all of the coins from your coin-catches throughout the house. Most young children enjoy separating coins by denomination and size… pennies and dimes seem to almost be perplexing… since they are almost the same size.
Once you have gone through all of the coins available in your home, the next step can be as easy as going to the bank and buying a few rolls of coins… obviously pennies and nickels pack more of a punch than quarters! Let your child separate the coins into different compartments, and if the child is old enough, let him/her separate the coins according to the coins dates.
Another fun way to get your child interested in coin collections is to try to collect all fifty states’ quarters. This seemed to be a rage a few years ago, and the good thing is that all fifty of the states’ quarters are in circulation right now.
I know I have stressed this already, but remember: When your child starts a coin collection, make it fun for the child, and make it a fun family activity.
