The coin-collecting world is large and intimidating. Some people want a vast collection, while others only prefer a group of specific coins. If you think you’re ready to enter this realm, you will want to read these coin collector tips for beginners. We’ll set you up for success!
Collect the Coins You Like
Keeping your coin collection to investments only takes the fun out of collecting. This reason is why you’ll hear many experienced coin collectors tell newbies to collect what they want, not what they think will turn a profit. You’ll miss out on satisfaction, fun, and history if you only purchase pieces because of their value.
You don’t want to fall into the trap of trying to make a quick buck. It could lead you to make costly mistakes, as some supposedly valuable coins could be counterfeit. Stick to buying what you love and find a trusted dealer.
Create a Plan
Before jumping in, look at what’s available in the coin-collecting world. A few pieces may catch your eye. Determine if you need to save some disposable income before making expensive purchases.
Some collectors set up spreadsheets to track what coins they have for a collection and which ones they want. This tracking can also keep you from buying the same piece twice.
Handle and Store Properly
Coins are still delicate pieces of metal. You can scratch and damage them easily. It’s also good to know that there are differences between coin silver and sterling silver.
If you want your coin collection to keep its value, you must learn how to store and handle your coins safely. When you have to touch your coins, wear latex or cotton gloves. If you don’t have gloves available, only hold the edges of the coin.
Pro Coin Tip
Never clean your coins. It can take away the value, possibly making it worthless. A coin dealer can spot when a piece has undergone a cleaning. Turn to the pros if you feel cleaning is essential.
Join a Coin Club
There are various coin-collecting clubs, and you’ll find a club no matter your expertise level. Joining a coin club is a fantastic way to fully immerse yourself into the coin-collecting world. You’ll also gain a lot of knowledge from experienced collectors.
It’s time to start collecting now that you have a few beginner coin collector tips to help lead the way. Ready, set, collect!