Coin show shows how hobby is changing

By Jennifer Hogan / Special to The Citizen

Monday, October 29, 2007 9:45 AM EDT

AUBURN - With the many changes and additions being made to U.S. currency within the past few years, the popularity of coin collecting has also risen.
Yet with all of the coins both old and new circulating, how does one know which to add to a collection or which coin is worthless?

“It's a hunt for the elusive,” said Ray Walters during the annual Cayuga County Coin Club show held at Cornell Cooperative Extension in Auburn Sunday afternoon.

For many, the hobby of collecting coins is a passion that has been with them since childhood.

David DeTomaso, president of the Cayuga County Coin Club, said that he has been an avid coin collector since he discovered the hobby during Cub Scouts at the age of 7.

“Coin collecting is a hobby that could also be profitable,” he said. “But for the most part many people that collect coins do just for fun. Either way, a coin collection is always a good investment.”

DeTomaso also said that the change in the new state quarters within the past few years has given rise to more collectors.

“Many people have become involved in the coin collecting hobby through the quarters,” he said. “Especially younger kids and teenagers.”

According to DeTomaso though, the quarters won't be expected to increase much in worth due to the large number produced.

Club vice president Mark Caiello agreed and said that although the quarters aren't expected to gain much value, they are a good way for people to start a coin collection without much of an investment.

“The state quarters and presidential coins are a good start for people to learn the hobby,” he said. “But I would be careful with the commercialized ads for these coins. It is always best to consult with a coin dealer or to even visit one of our monthly meetings.”

Caiello said that the Cayuga County Coin Club is open to the public and free of charge for anyone interested in beginning a collection or if they just have questions about a certain coin.

He also said that there are actually four minting facilities rather than just the two that most people know of.

“Most people know about the Philadelphia and Denver mints,” he said. “But San Francisco and West Point Military Academy are two that not many people know about.”

Caiello said that the two lesser-known minting facilities are where the commemorative coins are made.

Both DeTomaso and Caiello said that in 2009, the U.S. penny will be seeing some drastic changes.

“The U.S. Mint Web site is a very good place to find information on coins and other currency,” Caiello said.

DeTomaso also gave some interesting advice for anyone thinking about getting into coin collecting.

“Coin collecting is the only hobby where you can spend all of your money and still have money left over,” he said.

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