Coins are one of the most popular collectibles, especially for beginner collectors since coins are part of our everyday life and come with a sense of familiarity. However there’s many other great reasons to start collecting coins– to honor and appreciate the history, having an interest in past currency, and of course, for the profit.
There’s technically no right way or wrong way to start collecting coins, however there are some basic guidelines to follow that can help you achieve your collecting goals and stick with the hobby–
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Goals Of Collecting Coins And Build Your Collection
As we mentioned, there’s no right or wrong way to collect. You can collect by country of origin, by year, by color, by metal, or any other feature imaginable that you want to. It’s all up to you since it’s your collection. However, most people collect by Type or by Set, for very good reasons:
Collecting Coins By Type
Collecting by Type means you collect any particular denomination of coin, but only the best possible options.
Collecting Coins By Set (recommended)
Collecting by Set, the recommended method especially for beginners, means you collect one coin but from all years and all mints.
Set Realistic Goals
Starting any new hobby, collecting or otherwise, comes with its risks of losing interest and giving up. If you have unrealistic goals, or have no goals in general, it’s easy to get discouraged, never feel like you’re accomplishing much, and lose interest. This is the reason why collecting by set is recommended- there is a set beginning and a set end. Set a realistic goal to work towards and you’ll be sure to fuel your passion for collecting coins well into the future.
Start With The Rarest And Most Expensive
This may seem counterintuitive, but by collecting the rarest coin in a set first, you get the hard part out of the way and lower your risk of feeling like momentum and progress is slowing as you build your collection. Plus, coins rarely go down in value, especially the rarer ones, so if you’re going to get a certain coin eventually, better get it sooner rather than later in order to get the best price possible.
Know Where To Buy Coins From
Aside from our eBay auctions, shopping locally is always a great idea since you have less buyers to compete against and a higher chance to find that diamond in the rough. Craigslist, newspaper classifieds, estate sales and garage sales are all fun, quality places to look for collectible coins.
Care For Your Coins Properly
And finally, once you do start acquiring coins, make sure you care for the properly. That means handle them with clean hands or gloves and store them in a high quality holder. Never scratch, cut, clean, rub or polish!
Have any questions on buying or selling? Feel free to call us at 800-326-7064!