Coin Collecting Tips for Beginners

 

Coin collecting is a hobby that originated solely for the purpose of hording valuable coins.  Over the years and in today’s society, coin collecting is now considered a respectable hobby.  Yes, many coin collectors still have hopes of creating profitable coin collections filled with rare and valuable coins, but many coin collectors, even those in it for the profits, still appreciate the art and history behind this great hobby.

As stated, coin collecting is an activity that is enjoyed for recreational purposes, as well as for profits.  Regardless of why you are interested in coin collecting, there are a few basics that you and all other coin collectors should know.  These coin collecting tips, a few of which are highlighted below, can help you see success, whether that success is personal fulfillment or money.

One of the best ways to start a coin collection is to always keep your eyes and ears open.  Many professional coin collectors and dealers know that rare, valuable, and limited edition coins can turn up anywhere and at just about any point in time.  Always examine the change that you receive while out shopping.  Also, be sure to ask your friends or family members about the coins in their possession.  This is particularly true for older relatives who may have their own coin collections or at least a bank filled with older coins.

Although keeping your eyes and ears open at all times is a great way to get started with coin collecting, there are additional ways that you can acquire coins, particularly those that are rare or semi-valuable.  One of the best approaches involves meeting with a professional coin collector who is interested in selling their collection or a coin collecting dealer.  Often times, you may find the best success when doing business with dealers.  These are professionals who specialize in the buying, selling, and trading of coins, especially coins of value.  Contact information for coin dealers can be found online with an internet search.

Speaking of the internet, the internet is another approach that many coin collectors use to acquire coins.  If you are interested in taking this approach, be sure to examine online auction websites.  Many coin collectors who no longer wish to participate in this great hobby choose to sell their collections online.  Many even sell their collections for one affordable price.  This is a great way for you to save money.  It is also nice as many beginners are unsure or even afraid of dealing with professional coin collecting specialists or dealers.

A large part of coin colleting involves acquiring coins for your collection, but there are other important components of this hobby.  For example, coin collectors who would like to one day sell their coins for profits should familiarize themselves with proper care and storage.  If not properly cared for, an otherwise rare and valuable coin may decrease in value or essentially turn worthless.  Coins should not simply be tossed loosely into a jar or a box.  They should properly be stored, especially coins that have the potential to become valuable one day.

In connection with the proper care and storage of coins, it is also important to touch on needed supplies.  Coins themselves are the only supply truly required to start a coin collection.  With that said, there are a number of coin collecting supplies and tools that professional coin collectors and hobbyists can benefit from owning and using.  These coin collecting supplies include coin value books, coin collecting how-to guides, magnifying glasses, coin holders, coin folders, as well as coin albums.

The above mentioned tips are just a few of the many that coin collectors, especially beginners, are urged to keep in mind.  These tips can assist both coin collectors who collect for a hobby or those who are looking to later make a profit with their coin collections.  As a reminder, if the original goal of coin collecting is solely for hobby and personal fulfillment, things may change.  That is why all coins should be well cared for and properly stored.