Investing in rare coins is an invigorating endeavor for many collectors, resulting in exciting experiences, a wealth of knowledge, and an ample supply of extra cash. Before making an investment, however, you should know your stuff. As High Point, NC’s premier pawnbroker, the professionals at Coins & Stuff share the info that every new coin collector needs to know. 

Make Sure Coins Are Right For You & Learn the Field

Rare coins aren’t ideal for everybody. Consider them a long-term investment that results in larger, long-term returns rather than extra, short-term cash. The best coins require years to gain value, so add them to a diversified portfolio. If you expect quick, easy earnings, look into other options instead. 

It’s also best to head to the pawnbroker or coin dealer knowing exactly what you’re buying and selling. Coin collecting is more difficult than it seems, so distinct knowledge is required. Know the correct terms, values, and other valuable info that will fetch you the most financial gain.  

Beware of Bargains

When you first start investing, that extra time you spent reading up and learning the basics will truly pay off. Dealers will know when you’re new to the game, and many people starting in the field of rare coins get caught up in deals that seem too good to be true. If a coin dealer offers you something for an unbelievable value, you’re probably being duped. Think wisely prior to making a purchase, whether it’s large or small. 

Be Sure of What You're Buying & From Whom You're Buying It

One of the most vital aspects of rare coins is their grade. A well-preserved, newer coin will probably catch a higher value than an older, half-melted piece. Even a seemingly small difference can translate big time in the value department, so purchase wisely. Know exactly what you’re buying: What year is the coin? How well-preserved is it? Is it rare, or a common find?

Oftentimes, you’ll discover unbelievable surprises at your local pawnbroker over a larger shop filled with enthusiasts. Coins certified by the Professional Coin Grading Service (PCGS) are also worth looking into. That way, you know precisely what you’re getting and never have to worry about getting ripped off. 

If you’re considering investment in rare coins, welcome to the world of an exciting, educational new hobby. Whether you’re buying or selling, High Point’s Coins & Stuff can help. Visit the area’s go-to pawnbroker online for additional information, or call (336) 885-5323 to speak with an expert today!