Collecting numismatic rare coins is not an easy hobby. A great deal of money, time and effort must be exerted in order to complete the collection.

Those who are really serious about this hobby can even pay as much as hundreds of thousands of dollars just to buy numismatic rare coins.

The question is, why are people willing to go through such great lengths just to get these rare coins? Are they worth the steep prices they fetch? Are they worth all the effort?

Take the case of the most expensive coin, valued at a whooping US6 million! According to Forbes, the US20 double eagle gold coin is valued at US6 million and will be put up for bidding at Sotheby’s and Stack’s by July 30 in New York.

The rare gold coin was minted in 1933 and has such a high value because it is the only one of its kind in the world. It can be remembered that in 1933, then President Franklin Roosevelt ordered that the US be taken off from the gold standard and that all US20 gold coins be destroyed. Ten of the coins were stolen from the United States Mint. Eventually, nine of the coins were recovered and destroyed. The remaining one was believed to have made it to Egypt and became part of a collection of more than 8,500 gold coins!

Another expensive numismatic rare coin is a gold coin valued at GBP350,000 or approximately US 697,000! The gold coin, bought by the British Museum, dates back to the Anglo-Saxon period, depicting King Coenwulf of Mercia during the 9th century. The lucky person who found it beside the River Ivel in Berdforshire in 2001 was a metal detector enthusiast who then sold it to an American coin collector.

The British Museum was willing to pay the high price because the gold coin was a significant source of information about the Anglo-Saxon kingship in the 9th century.

Not to be outdone, China has come out with a 10-kilo 2008 Olympic commemorative gold coin valued at US1 million. Not only is it a rare coin, but it is the largest as well!

If you are on the lookout for numismatic rare coins, you can start right at your very own home, whether you have a million dollars to spend or just a few hundreds to spare. The internet can be a source of plethora of information. Bidding for rare coins is up left and right on Ebay and other online auction sites. Rare and expensive coins also make the headlines in online news sites.

Another option is to actually go out and buy them. For those who can afford it, participate in auctions by Stack’s or Sotheby’s.

For those who do not have millions of dollars to spend, the good old garage sales and antique stores are treasure troves! Sometimes, people who are not knowledgeable about the value of old coins and who are not just plain interested in them can put up these valuable coins on garage sales. Antique and hand-me-down stores also sell numismatic rare coins.

The only thing you actually need when on the look-out for numismatic rare coins is passion and information. Basically, you should know the difference between a newly minted 10-dollar coin from a crusty 1933-minted one dollar coin.

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Author: Gareth Bray
Article Source: EzineArticles.com

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