Rare Coin Collecting: Can You Do It?

 

Coin collecting is a hobby that is enjoyed by many.  Whether you are coin collecting for hobby only or with the hopes of one day owning a profitable coin collection, you may be interested in acquiring rare coins.  Unfortunately, many beginners mistakenly believe that it is too difficult or too costly to specialize in rare coin collecting.  All coin collectors, including yourself, need to know that the previous statement is false.  With a little bit of hard work and determination, you can easily have rare coins in your coin collection.

One important mentionable point concerning rare coin collecting is that it doesn’t have to be a specialty.  You and other coin collectors do not have to specialize solely in rare coins or limited edition coins.  Some of the best coin collections are those with no particular theme.  For that reason, you may want to mix it up a bit.  This can be done with a collection of rare or limited edition coins and other valuable or semi-valuable coins.  Should you choose to do so, there are a number of storage tools that you can use to your advantage, such as coin folders.  Many tend to specialize in a specific type of coin, like state quarters or even coins for specific eras.

One of the most commonly asked questions concerning rare coin collecting involves getting started.  Many beginners are curious as to how they can get their hands on rare, valuable coins.  You will find that you have a number of different options. 

Professional coin collectors and professional coin collection dealers often provide you with the best access to rare coins.  Professional coin collectors and dealers do not estimate or simply guess that a coin is valuable or rare; they know for sure.  Perhaps, the only downside to this approach is the cost.  Since most professional coin dealers and collectors are well aware of the values of their coins, they often charge those prices.  With that in mind, professional coin collectors and dealers are still an easy means for acquiring rare, limited edition, or valuable coins.

The internet is another great way to expand a coin collection with rare or valuable coins.  When using the internet to purchase coins, many turn to online auction websites.  These websites are ideal in that you never know what you may find.  Due to the increase in popularity, many individuals bypass traditional estate sales and head straight for the internet.  In this sense, it is possible for you to find rare and valuable coins online for relatively affordable prices.  With that in mind, these rare and valuable coins can sometimes be difficult and time consuming to find online.

All coin collectors are also urged to keep their eyes and ears open at all times.  Although rare, you may never know what type of coins will be handed to you, your friends, or others that you know when out shopping.  Many individuals do not realize that they have rare or potentially valuable coins in their possession and other mistakenly give them away, like at a retail store, without meaning to do so.  Although rare, as previously stated, there is no harm in taking a few seconds to examine your coins before tossing them into your purse or pocket.

Regardless of how rare or other valuable coins are purchased, value and condition are a must examine.  Be sure to examine all coins and their conditions before agreeing to a purchase price.  This is important as even a small amount of damage can significantly reduce the value of a rare coin.  When purchasing rare and valuable coins, it may be best to do so in person.  With that being said, online purchases can also be made with pictures, namely close-ups.  Professional dealers should already have an idea of the value of their coins, likely through use of the Sheldon System, which rates coins on a 1 – 70 scale, 70 being perfection.

Rare and valuable coins, although somewhat difficult to acquire, are not out of the reach of most coin collector.  With the proper amount of research, drive, and determination, your coin collection can include rare and valuable coins.