How to Build a Coin Collection to Give to the Grandkids

A lot of collectors have the same thought at some point. One day, this will go to the grandkids. It's a lovely goal, and it changes how you collect.

When you collect for yourself, you can follow every whim. A collection for the next generation needs a bit more thought. It has to make sense to someone who wasn't there when each coin was bought. It needs to be easy to look after. And ideally, it should mean something to the person who ends up with it.

Start with a theme they will understand

A clear theme turns a box of coins into a story and it gives the grandchildren somewhere to start if they decide to keep the collection going.

Themes that work well for family collections include:

·       Birth years. A coin from each grandchild's birth year, or from the year they started school, finished school or turned 18.

·       The Lunar series. Every year has its animal, so a Lunar coin for each grandchild's birth year is personal and easy to explain.

·       Australian wildlife. Kangaroos, kookaburras and koalas turn up on plenty of Australian releases.

·       Annual mint sets. Uncirculated and mint sets record each year of Australian currency. They're an affordable way to build a long, unbroken run.

·       Characters they love. Bluey and other children's favourites have appeared on Australian coins. For a young child, that can be the coin that starts it all.

Buy with the long term in mind

Not every coin needs to be expensive. A $20 coin with a clear story can mean more to a child than a costly one they don't understand.

A few habits do help a collection hold its interest and value:

·       Buy from authorised stockists of the Royal Australian Mint and The Perth Mint. You'll know the coins are genuine and in their original packaging.

·       Keep every certificate, box and capsule. A coin separated from its packaging is often harder to value or sell.

·       For higher-value pieces, favour coins with a stated maximum mintage. Limited releases tend to stay collectable.

·       Mix everyday pieces with a few special ones. A run of annual sets plus one or two significant silver or gold coins gives the collection some highlights.

Keep a simple record

Most collectors skip this step. Families tend to value it most.

A notebook or spreadsheet is fine. For each coin, write down what it is (year, mint and metal), when and where you bought it, and what you paid. Then add a sentence on why you chose it.

That sentence is the one your grandchildren will read. "Bought the week you were born" or "Your grandmother loved kookaburras" is what turns a coin into an heirloom. Print a copy to keep with the collection, and save a digital copy too.

Store it so it lasts

Coins left in their original capsules and boxes, somewhere cool and dry, can stay in excellent condition for decades. Avoid garages, sheds, bathrooms, and anywhere near windows or heaters. Keep the whole collection in one place, ideally a sturdy storage box or a safe.

If the collection becomes valuable, talk to your insurer. Many home contents policies cap cover for collections unless items are listed.

Involve them along the way

You don't have to wait for the handover. Plenty of collectors say sharing the collection is the best part.

When a new coin arrives, show it to a grandchild. Let them hold the capsule and read the certificate. Tell them why the design was chosen. Children who help build a collection are far more likely to value it, and to keep it.

You could also give each grandchild a small starter set of their own to add to.

Plan the handover

Will the collection go to one grandchild, or be split? If it's split, a clear note on who gets what can save some awkward conversations later. Some families mention the collection in a will. Others hand it over on a birthday or another milestone.

However you do it, include a short letter explaining what the collection means to you. That letter often ends up being the part the family treasures most.

Start with one coin

Good family collections are built slowly, over many years. One coin at a time is plenty.

You'll find the latest Royal Australian Mint and Perth Mint releases at Mint Coin Shop.