Collecting coins is a popular hobby that encourages continual learning and rewards patience. Each piece is distinct. The hope of finding rarities is what drives collectors to invest time and money. However, collecting takes some measure of planning to avoid costly mistakes. Consider the following do’s and don’ts to ensure success.

Do:

Start small.

Collecting takes time, and jumping in feet first could result in wasting money. Start by finding a coin set that interests you, such as the Lincoln pennies or the state quarters. Limiting your options allows you to make progress while allowing time to learn. Plus, these pennies and quarters are more readily available and won’t break the bank.

Get the right tools and supplies.

You run the risk of ruining a collection by not having the proper tools and supplies on hand. Secure a magnifying glass to aid inspections and a pair of cotton gloves to protect coins from the oils on your fingers. Set up a workstation with plenty of light, and find an album with transparent sleeves for preserving appearance.

Don’t:

Neglect research.

To succeed in coin collecting, learn as much as possible about the hobby. Start by purchasing a reference book that publishes basic information about well-known specimens. If there’s a mintage of particular interest, perform additional research online to determine its availability.

Confuse age with value.

Just because a coin looks old doesn’t mean it’s of any value. Many depreciate over time and only certain factors determine their worth, including condition, metal content, and rarity. Ask for additional information prior to purchase to determine if it belongs in your collection.

Get off to a rousing start by stopping over at Pawn World in Kingman, AZ. They are an authorized Numismatic Guaranty Corporation^® (NGC^®) dealer and have been in the business for over 25 years. Competitively priced coins regularly rotate in and out of their inventory. This family-owned pawnshop has maintained some of the lowest interest rates in the Tri-State since 1996. Call (928) 753-3700 to speak with a knowledgeable representative, or visit their website for a list of coins they’re selling and buying.