Coin collectors can be divided into two basic types, people who collect coins for their aesthetic beauty and those who collect them for their intrinsic value. The distinction is not a definitive one; many people belong in both categories.

Coin collecting is a hobby that most people do not plan on starting. The average collector started as a child when an unusual coin was received as a gift or as change. The child that is interested in such things starts watching for different ones and they become "hooked." Over the years the casual collector may gradually progress from wheat pennies, buffalo nickels and the occasional silver dime, to visiting coin dealers and purchasing rarer vintages to complete their collection. Many have discovered that a good source is the bank. Purchasing rolls of coins can sometimes result in a "find."

Another way that many people get drawn into coin collecting is on the job. Food service workers sometimes receive foreign or old coins as tips. Cashiers receive them as payment when someone is forced due to necessity to use saved coins, or are not aware of their value. Silver or rare coins are sometimes still acquired this way by the alert employee, who keeps a supply of change in order to swap it for the found treasure. An extensive and varied collection can be acquired by a few years of working behind the register, especially for those who work in popular tourist areas.

These casual collectors are the ones who collect them for their beauty and variety. A great many clubs and shows have sprung up for the enthusiastic hobbyist. Collectors group their collections in different ways; by year, mint marks, countries, commemorative, or reproduction of ancient varieties. The condition of a coin is one of the most important factors in its value.

The deliberate collector usually starts acquiring them as an investment. Silver and gold coins are literally worth their weight in the metal that they are made of, and may have additional value due to limited production or some oddity in production that makes them rare. Coins are an easy, low-risk investment to purchase and keep. Some financial institutions will even allow them to be held in an investor's brokerage account. One interesting side effect of coin collecting resulted in a shortage of pennies in circulation when the price of copper went up a few years ago, as people began to hoard the pennies they had.

For whatever the reason people collect them, it can be a very satisfying hobby.