Starting a coin collection can be an exciting hobby. There’s the thrill of the hunt for rare coins and the feeling of accomplishment once a coveted token is found. To help amass an impressive collection, below are a few pointers to follow and pitfalls to bypass when getting started.  

Do:

Start small.

Until you become a serious collector, don’t spend a sizable portion of your paycheck on rare coins. To keep an eye on costs, start by choosing coins that are still in circulation. You could collect Lincoln pennies from all 50 states, for example, by going through the change in your wallet, pockets, or purse. Once you have sets of currency that are still in circulation, you can expand the search to rare coins.  

Invest in the right supplies. 

Preserving the coins for future generations to cherish should be a priority. To this end, buy latex gloves and cotton cloths to handle the pieces. This will prevent the oils and lotions on hands from tarnishing and corroding the metal.

Prevent scuffs and scrapes by putting coins in a special holder. Similar to photo albums, the storage binders have slots to display each coin. You should also have a magnifying glass to inspect the metal for damage and view the intricacies of the designs.  

Don’t:

Make impulse purchases.

Once you’ve compiled sets of coins in circulation, you might be tempted to buy any piece that draws your attention. To help you make thoughtful purchases that will increase your collection’s value, do research before visiting a coin dealer.

Learn about the origin and history of the pieces for sale and the current market value of silver and gold coins. You can look to collector magazines and websites, as well as the latest edition of “A Guide Book of United States Coins,” for up-to-date, useful information. 

Confuse age with value.

Just because a coin is old doesn’t mean it’s valuable. Numerous factors go into determining the worth of coinage, including the condition. When coins are withered and severely corroded, it can be difficult or impossible to see the imprint.

The harder it is to see the imprint, the more a coin drops in value. It’s best to look for gold and silver coins in good condition and then think about age and rarity when making purchasing decisions.

For help starting a coin collection or growing the one you have, contact the professionals at Coins & Stuff in High Point, NC. With over 100 years of combined experience, the staff will help you navigate their selection of gold, silver, and rare coins and provide useful information about the pieces. To find out what’s in stock, call (336) 885-5323, or read client testimonials on the store’s website.