If you love history and want to better understand the past, collecting coins can be a great way to do so. The narratives behind coins often contribute to their value. Knowing why they were minted or how they were used can help you determine what types of coins are worth your money.
You can also make money off of your collection by selling it at auction houses or online marketplaces. But before you dive into the world of coin collecting, read on to learn about some do’s and don’ts.
Do Buy a Coin Folder
Buying a coin folder is one of the best things you can do to start your collection. They’re relatively cheap, and they make it easy to keep track of everything in your collection.
Coin folders are also great for protecting coins from the elements. You can preserve them until their value goes up enough for them to be worth selling.
Don’t Wait Too Long to Start Collecting Coins
If you’re interested in being a coin collector, don’t procrastinate. Now is the right time for you to do it.
There’s no need to fear starting out small or not knowing anything about coins at first. You can learn as much as necessary along the way! The most important thing is that you get started and enjoy the hobby.
Starting sooner also has implications for your future collector items. If you start too late, it may be difficult to find rare finds.
Do Learn to Spot Fakes and Replicas
Like any other hobby, coin collecting can be fraught with pitfalls. Even if you are only interested in collecting vintage coins and not the rarest of rarities, there are plenty of places to get taken advantage of by unscrupulous dealers and collectors.
There are many resources available online that can teach you how to recognize counterfeits so that you’re never fooled into thinking something’s real when it isn’t!
Don’t Forget About Subscription Precious Metal Websites
Subscription websites are a great way to build a collection quickly and at a discount. They also enable you to buy coins you would otherwise never have considered before, opening your eyes (and wallet) to the world of coin collection.
Many subscription services offer discounts on the coins they sell, which means it’s cheaper than buying from an individual dealer or auction house. Investocrate’s inventory is a great example of this. Check it out.
It’s true that some subscriptions charge an annual fee for access. However, this is offset by the amount saved on coins.
Start Your Coin Collection
Collecting coins can be a fun and fulfilling hobby that you can pass down through generations. You never know what valuable pieces will come out in the future, so get started now! By following these guidelines, you can collect coins with the ease and confidence that you’re doing it right.
If you’d like to get some more pointers on starting new hobbies, check out our other blogs.