Coins have been minted for thousands of years, with examples dating back as early as 500 B.C. The earliest collectors probably kept them only for the inherent worth of the precious metals they contained, hoping that over time the value of the metal would appreciate beyond the face value of the currency. This is sometimes still practiced today, although the actual precious metal content of most coins is generally far less today than it was in ancient times.

The modern practice of collecting them for their artistic or historical significance began in the Renaissance, when it became a popular pastime among the upper classes. Members of the nobility and even royalty collected and studied coins, earning this activity the nickname it bears to this day: the Hobby of Kings.

Today, people of all walks of life enjoy this once-exclusive hobby, and for various different reasons. Some focus on the resale value of rare coins and try to build a collection that will appreciate in monetary value so that it can one day be sold. For these collectors, it is more of an investment than a hobby. Others collect them for their sentimental value, because they simply admire the art and history represented in their collection. It is common to build a collection as an heirloom for one's children or grandchildren to enjoy.

Although some collectors are generalists, accumulating many various kinds of coins, others prefer to narrow their activities down to a more specialized field. Some collect examples only from certain countries or periods of time, or seek out rare coins with mint errors or that were only minted for a short period of time, or try to obtain a comprehensive collection of one specific type, such as one of every mint year for Lincoln Cents.

Anyone can build a successful collection, even without investing a great deal of money. Every year the U.S. National Mint sells sets of uncirculated currency at an inexpensive price, very well-suited for beginning hobbyists. The U.S. Silver Eagle, a solid silver bullion dollar, is another popular choice both for investors and for those who are interested in them for their beauty. These are sold by the National Mint, but are also readily available from online coin auctions.

Local clubs are an excellent resource for the novice who wants to learn more. Talking to experienced collectors can help in avoiding common mistakes and make the hobby more rewarding.