5 Coin Collecting Tips to Follow for Beginners

For a lot of people, they don’t start coin collecting simply by deciding to become a coin design. Instead, they find an interesting coin their pocket change, they inherit a coin collection from a loved one, or they come across a unique coin some other way. 

Some people start coin collecting as a way to pass the time. Other people choose to do it with hopes of one day striking it rich. No matter how you started or what your intention is, it’s important that you know about some of the most useful coin collecting tips. 

Luckily for you, we are here to help you with just that. So if you would like to learn more, then keep on reading and we will take you through our top tips to follow for people who are new to coin collecting.

1. Start Simple and Small

Unless you are rich and a costly mistake won’t bother you that much, you will want to ease into this hobby. Any hobby can get expensive. And that is especially true when the hobby involves collecting actual money.

Before you make any major purchases, you want to make sure that you have a good understanding of what you are getting yourself into and what you are buying. You should begin with smaller coin purchases and coin sets that are easy to put together.

Take your time to learn about coins, coin pricing, how to grade them, and the history of the coins. 

A lot of great coin collectors started out by collecting a set of Lincoln pennies. These pennies are still found in circulation and many can be bought at local coin shows, online, or coin shops for not a lot of money.

If you happen to have a bigger budget, then you might want to start by building a set of Indian Head pennies or navy challenge coins. You should also consider collecting a type set of United States coins. 

2. Collect What You Like

A lot of people want to start collecting but they aren’t sure what they should collect. The simple response to this is to collect what you like. Choose coins or a series of coins that fancy your interest.

Collecting coin is a relaxing hobby, especially when you collected the Shakespeare £2 coin design. It is a rare coin that most of the numismatics wanted to have.

It might be an interesting design on a coin, the history of that coin, or a story that’s associated with it. Utilize the power of the internet and research the origins and histories of different coins.

However, just make sure that you are very careful about what you buy on the internet. A lot of coins that you find on the internet will either be fake or overpriced. 

3. Handle Coins Carefully and Store Them Properly

Most coins are made of metal. And metal tends to be a strong material However, the surface of a coin is very fragile.

It is easy to tarnish or damage the face of a coin. Different metals are going to react differently to the environment around them.

You should know how to make use of smart coin storage and handling methods. This is going to protect the value of the coin for years to come.

Make sure to wear latex or cotton gloves when you handle your coins. If the coins are not available then only handle the coin by the edge.

You should never clean a coin. A coin dealer will know that your coin has been cleaned and they will actually be considered it to be damaged. When this happens, the value of the coin goes down by a lot.

In fact, the coin might even become worthless. 

4. It Is Not a Race

Coin collecting is all about patience. You want to take your time and build a robust collection of coins that is going to increase in value over time.

In fact, a lot of people hurry with their coin collection purchases to end up getting frustrated. They will likely lose money when it finally comes time to sell their coin collection.

You should take your time and learn about different coins before you buy them.

You never want to purchase the first coin that comes along. Wait for the coin that has the quality you are looking for and is being offered at a good price. There aren’t as many “once in a lifetime” opportunities as the sellers are going to have you think there are.

5. Join a Coin Club

One of the best ways that you can learn more about coins is to join a coin club. A lot of towns and cities across the United States have local coin clubs.

Just look it up on the internet and you will know if there is a coin club in your community.

The largest organization dedicated to this kind of hobby is the American Numismatic Association (ANA). 

There are also various specialty coin clubs that focus on Liberty Seated type coins, early American copper coins, error coins, etc. 

The Importance of Knowing These Coin Collecting Tips to Follow for Beginners

Hopefully, after reading the above article, you now have a better idea of what coin collecting tips you should follow. As we can see, coin collecting can be a fun hobby. But it is important that you ease into this hobby and learn about it as much as you can.

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