He was born on August 5, 1802 in Truro, Massachusetts to Israel Gross Collins (1776–1831) and Mary Ann Knight (c.1780-Jan 3, 1803). His mother was a niece of Sir Edward Knight and she died shortly after Edward was born. His aunts then raised him. His father moved to New York City. At age thirteen in 1815, Collins left Truro for New Jersey to attend school. He then went to New York City as an apprentice clerk in the counting house of McCrea and Slidell. Within a few years, Edward moved to Delaplaine and Company.
