Coin collecting is one of the world’s oldest hobbies. People have always valued coins as a means of trade and storage of wealth, and they’re also considered miniature works of art. Learn the basics of the hobby as you complete this merit badge and find out why it’s so popular.
Understand how coins are made and where the active U.S. Mint facilities are located. Explain grading terms such as Uncirculated, Extremely Fine, Very Fine, Fine, Very Good, Good, and Poor. Show your counselor five different grade examples of the same coin type. Describe what encapsulated coins are.
Know three different ways to store a collection, and tell your counselor the benefits, drawbacks, and expense of each method. Choose one to use for your own collection.
For each year since your birth, collect a date set of a single type of coin. Explain why you chose the coins in your set. Tour a U.S. Mint facility, the Bureau of Engraving and Printing, or a Federal Reserve bank (with your parent’s permission). Visit a coin show or coin club meeting. View the Web site of the U.S. Mint or a coin dealer, and tell your counselor what you learned.
Collect and identify 50 foreign coins from at least 10 different countries. Collect and identify 20 bank notes from at least five different countries. Collect and identify 15 different tokens or medals. Give a talk about coin collecting to your troop, a Cub Scout pack, or a class at school. Do drawings of five Colonial-era U.S. coins.