Coin collecting is a popular hobby for many people. Collectors learn a great deal about the coins and their history, and some have even sold their collections for thousands or millions of dollars. If you’re interested in starting your own collection, Smith Jewelry & Coins, the premier jewelry and coin dealer in St. Charles, MO, offers some tips below.

How to Begin Coin Collecting

1. Start Modestly

Don't make any significant investments before you fully understand what you're doing. Instead, limit purchases to only a few dollars until you decide you enjoy the hobby enough to invest larger amounts.

2. Collect Coins You Like

Choose coins that interest you, whether because of the design or because they're from a location you've visited or a historical period you enjoy learning about. The more interest you have, the more successful your collection will be and the more enjoyment you'll get out of the hobby.

3. Be Patient

Coin collecting is not a hobby that permits immediate gratification, and you shouldn't make impetuous decisions. Learn as much as possible about each coin before buying. If you don't, you're likely to lose money on the transaction.

4. Invest for the Long Term

Coins are usually a terrible short-term investment. Don't expect to sell any coin you purchase from a dealer or another collector for a profit unless you hold it for 10 years or more.

5. Educate Yourself

Read books, subscribe to newsletters, and talk with experts to educate yourself about the hobby. The more you know, the more successful you'll be and the more likely you are to assemble a valuable, impressive collection.

If you've thought about starting a coin collection, contact Smith Jewelry & Coins in St. Charles, MO. They have served the region for more than 50 years, purchasing estate jewelry and coin collections and selling the contents to other collectors for a fair price. Visit their website to view their location and business hours. Call (636) 441-6789 to discuss availability with a coin collecting expert.