Are you looking into starting a coin collection as a hobby? Or you’re a seasoned coin collector and thinking of adding to your coin collection?
Like every other hobby, coin collecting is a rewarding experience. For one thing, you have pieces of history set in metal with you. You also keep on learning and improving your skills and abilities to get new coins and save the old ones. Plus, it’s a good investment!
So to help you, we have compiled the best tips to ensure your long and profitable coin collecting journey. So without further ado, let’s dive in.
It’s Good to Start Simple and Small
Starting, you should consider your pocket and go for smaller coin purchases and coin sets. They are readily available and easy to assemble. After that, begin learning about the coins, their history, how to grade them and coin pricing.
Another good idea can be setting up a budget at the start of the year. Once you have money and a small collection, you’ll be able to plan on how to proceed.
You Collect What You Like
Just like another hobby, you should collect coins because you enjoy it. So thinking of it only as investing money is a little unfair. You should collect what excites you most, not for return on investment.
When collecting, you can be inspired by the design, history of the coin or even a story associated with the coin. With time you can build your sets of coins with common themes, such as queens, fish, buildings, flowers, etc.
Your coin collecting hobby can be as interesting as you want it to be!
Handle Coins Carefully & Store Them Properly
You may think coins are made of metal, and they don’t require much care. Well, no!
The coin’s surface is very delicate and can be damaged easily if not handled with care. Plus, the atmospheric changes can damage them too. Different metals respond differently to temperature and weather changes. So, in short, coins need a lot of care too.
Use gloves to touch them and hold them from the edges only. It’s a terrible idea to polish them as you can destroy the engraving on the coin. Plus it can reduce the price severely too.
Be a Regular at Coin Show or Coin Shop
No doubt the internet has made our lives easier, but we face scams due to it all the time. So avoid purchasing coins online, as you can’t check their authenticity right away.
So where to buy the coins?
Our advice is to visit coin shows regularly and trusted dealers. The authentic dealers take their time to show you their collection and help you recognise a coin’s actual value.
Assemble a Tool Kit:
Once you become a serious collector, you should put together an essential tool kit. It may not be fancy, but it should have essential tools to help you.
Here is the list of tools:
- Magnifying glass: to check the coins’ details up close
- A notebook or software: To help you keep track of your growing collection
- Storage holder: To keep your coin collection safe and dry
- Cotton or latex gloves: To handle your coins with care
- A reference book: For general information about coin collecting.
So What We Have Learned So Far!
Coin collecting is a valuable possession that you can also pass on to your next generation. But mostly, it’s a passion to connect yourself to history. So building a collection and enjoying it is more important than any monetary gain.
What’s your take on it? Let us know in the comments.