It's been known throughout time as the "Hobby of Kings". But in these more modern times, I like to think of it as "The Hobby of Kids". Truely, no matter what the age, anyone who gets into coin collecting is either a kid or a kid at heart.

World Coin collecting is absolutely great for children! To get them started, they need to be given some coins by a parent or relative or better yet, taken to a coin shop or coin show and allowed to buy a few coins that they like. Picking their own coins usually is the better way to go. They are naturally drawn to the unusual coins that are like none they have ever seen before. The child's natural inquisitive nature is a strong internal force that will spur them onward in a quest to find out more about their newly acquired coins. Another good thing about World Coins is that so many of them can be purchased for so little money. Once a child has acquired his or her first coins, they should also have a reference book to look them up in. Over time, they will gravitate towards the coins and collecting area that they are most interested in. Younger kids often like coins with certain animal themes but their interests usually broaden out as they get older. (Please visit, How To Build A Collection, for World Coin collecting ideas.)

Collecting has so many benefits for both the child and the parent. One of my favorites is that there is wholesome, quality time that the child spends with the parent. This is especially true in their younger most formative years. Believe me, there are many things out there competing for their interest, and not all of them are desirable. With this hobby they will be less likely to get into untoward activities. And if you, the parent, collect too, you and your child will always have an exciting common interest to share. This is especially important for your relationship as they get into the often difficult teenage years. I think the age of 6 to 10 years old is the sweet spot to get involved with them in encouraging the hobby. I have taken many trips with my daughter to coin shops and shows. Let me tell you, when a child walks into a friendly coin shop or a bustling coin show, it is very exciting and it usually impresses them. I've never seen a youngster that didn't find something of interest at a shop or show. It is good quality and worthwhile time spent with your child at the shop, show, or just working on your collections at home.

My daughter has her own collection that she started when she was 6 years old. She always saw me looking at coins at home and I'd show them to her and take a few moments to give her a little tid-bit about each coin. She didn't really get that interested though until I took her to the local coin shop and sat her down at the World Coin bargain bin to keep her occupied while I was looking through the dealer's inventory for coins to add to my own collection. So, I gave her $2 and said she could pick out any 20 coins that she wanted (yes, 10c per coin, I told you one can start very inexpensively!). Well, before we left that day, she had found about $5 worth she wanted to buy. I asked her if she was willing to spend $3 of her savings from her piggy bank on the coins. She said yes and right then and there I knew that a new collector had been born!

My daughter really likes coins that have nice colorful rainbow toning on them. She has always liked any coin with an equestrian (horse) theme. As she acquires a coin, she goes to the reference books to look it up. I used to have to help her but she finds them on her own now and really seems to enjoy the challenge of identifying the coin. She loves to "catalogue" the coin by writing detailed information on the holder she has placed the coin in. It inevitably leads to conversations with me or her mom about the country, where it's located and maybe a little history. She is very proud to display her coins and show others her collection.

Lately, she's become more interested in the concept of value. It probably started last Spring when she found a coin with an error on it. I encouraged her to put it on eBay thinking she might learn something and make $25 or so. Well, we watched the auction rise to $50, $75, then $100 dollars by the last day. She was so excited! Then, with me, mom, and one of her friends watching as the final seconds ticked down on the auction, a flurry of bidding came in and pushed the final price up to, get this, $330! You talk about screaming and screeching little girls; I think they blew out my eardrums. Her friend kept screaming "she's rich!, she's rich!" What a lesson this was for her. We talked about how her coin was pretty unique and there were many collectors that wanted her coin (supply and demand). Now, she knows that some coins can be a very good deal and that she can make some very good money from them. With further study and experience, over time she will be able to make a value determination more confidently and know when a coin is priced too cheap or too expensive. She spent a little of her windfall for a Guinea Pig but put the rest of it into her savings account.

For access to World Coins, please visit KaleidoscopeCoins.com - World Coins For the Collector

Collecting world coins is a wonderful way to develop interest in a child as they gain exposure to the areas of geography, history, politics, economics, sociology, foreign language, vocabulary, markets, religion, investment, metallurgy, weights and measures, foreign exchange and money. They learn reading and research skills, organizational skills, study skills, negotiation and pricing skills, as well as independent learning skills when putting together their collections. Their eyes light up with excitment and intrigue as they think about their coins being from exotic far away lands and from times long ago. Collecting is so stimulative to their young minds and imaginations.

As they get a little older, if they become more serious collectors, they will have heavy interaction with dealers and other collectors face to face, by phone, and over the internet. In doing so, they will become highly skilled in negotiation, marketing and psychology (buying and selling coins), pricing, markets and economics (supply and demand), and of course calculating profit and loss. Though I wouldn't classify my daughter as a serious collector just yet, it was a great learning experience for her to go through the calculations of her true net profit on the error coin she sold on eBay. She was a bit surprised to learn that not 100% of the $330 was hers to keep. She begrudgingly accepted that there are selling expenses as well as her initial cost of the coin that must be subtracted to figure her real profit. I even told her that if she had made a large amount of money, she would have to pay the government some tax money on her profit. She was sure relieved to hear that she didn't make enough to owe any tax this time around. But, now she knows a bit about taxes and how the government, her school, the police, firemen, soldiers, roads and parks all rely on taxes from the people.

Collecting world coins and money is also a great way to learn about foreign exchange and the whole concept that each country has its own currency (monetary unit) and that it has a value relative to other nations' currencies. I'll tell you the story of how my own daughter learned about this through her collecting of foreign money.

A couple of years ago, on one of our trips to the coin shop, she was looking through the foreign bargain bin in search of some nice material for her collection. She saw a nice crisp $5 Canada bill and thought it was different and pretty so she bought it for $3. When we got home we started going over her new acquisitions. As our discussion turned to the Canada $5, she explained to me that it was a real bargain because she was getting $5 for only $3! Then I informed her that the bill was only worth 5 Canadian Dollars and that there was a difference in value between a Canadian Dollar and a U.S. Dollar. She looked at me like I had two heads and 16 eyeballs! I explained that her Canada $5 would only buy a little bit over $3 of things here in the U.S. and to even be able to spend it, she would have to take it to the bank and exchange it for 3+ U.S. Dollars. I told her that most stores in the U.S. , except some near the Canadian border, wouldn't accept payment in money from Canada or other countries. I tried to explain as simply as I could how the whole concept of foreign exchange worked. She seemed sort of confused and disappointed that her bargain was really no bargain at all. So, she tucked the $5 bill into her collection and that was that. Or, so I thought.

Then recently, she needed $5 for the book fair at her school the next day. I had already given her a U.S. $5 bill earlier in the week but she couldn't find it. It was late night when she hit me with this information, and of course, I didn't have any cash. She disappears while I'm looking for the misplaced $5 and the next thing I know, she's back bringing me the Canadian $5 note again, sort of laughing and saying that this is the only $5 she can find. I said, "guess what?" "Your Canada $5 bill is now worth more than 5 of our dollars! Though they won't take it at the book fair, we can go to the bank and get them to exchange it and you'll get at least 5 U.S. Dollars for it now"! I asked her "what did you pay for this again?" She says, "$3". I said, "you see, you made a great buy on this afterall". She looked so pleased, it was as if she had been vindicated. Then I gave her a simple explanation as to why the Canada dollar had grown in value over the past couple of years and how the U.S. Dollar had lost alot of its value. She had some great questions and we had a very nice discussion as she was trying to let it all sink in. I believe she actually understood the basics this time around; as much as you would expect a 10 year old to grasp what for many is a quite confusing concept. And though the Canadian $5 bill didn't solve our immediate problem of finding money for the book fair, it did give me two really great teachable moments with my daughter on an important economic subject that might not have come up otherwise. As for her future, right now, she wants to become a Veterinarian. But, if somehow that changes and she happens to become a superstar foreign exchange trader someday, I'm thinking I'll have to give credit to that one $5 Canadian bill she plucked from the dealer's bargain bin.

I have given several examples of how Collecting World Coins (and paper money) can be so educational and rewarding. It is a wonderful hobby with so many benefits that I can attest to from my own personal experience. Please visit Kaleidoscopecoins.com - World Coins For the Collector where you will find everything you need to get started including coins, articles, reference books and supplies. Don't worry if you don't collect, you can learn right along with your kids. Give the hobby a try and it will enrich both you and your children's lives.