A Beginner’s Guide to Coin Collecting

Written By Alla Levin
February 25, 2020
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A Beginner’s Guide to Coin Collecting

Does the idea of collecting coins spark your interest lately?

Did you happen to stumble upon a rare and valuable coin and thought maybe you should use it as a starting point to start collecting coins as a hobby?

Regardless of what your reasons might be, it is best if you start this hobby from the basics.

From purchasing the right coin collecting supplies to finding the right sets of Lincoln pennies, read on the tips below to better prepare yourself with your coin-collecting journey.

Handle and store your coins with care

A coin’s surface can be easily damaged, as it tends to be very delicate and will react to its surrounding atmosphere differently.

Practice handling your coins with care and put them in safe storage to protect their value for generations.

You can find coin collecting supplies online that provide high-quality products you can choose from for safekeeping and display purposes.

Also, never handle your coins barehanded, unless no gloves are available on sight. If this is inevitable, only handle your coins by the edge. And lastly (this is the most important), NEVER clean your coins.

Doing so will reduce the value of your coins and could make them worthless. Any coin dealer can tell if a coin has been cleaned, and it will be considered a ‘damaged coin.’

Start simple and be patientCoin collecting supplies

Before you dive into the hobby, take the time to educate yourself about coins, how they are graded, their history, and their pricing.

You can start by reading on some coin collecting websites, like the Numismatic News and Coin World.

From there, determine what type of coins your first collection will be: based on quality, history, or design.

Most coin collectors start with a low budget.

They go for sets that are not only easy to assemble, such as the Lincoln pennies, but are also available for a reasonably moderate price at your local coin shop, coin show, or even online.

Collecting coins that will appreciate as time goes by is not a race.

If you don’t take your time learning the value of a particular coin you’ve been eyeing to purchase, you may end up losing your money when the time comes to sell it, and then learn that is not much of a value at all.

Be clear with your goals

You don’t need to follow an absolute rule when it comes to coin collection. You can march to the beat of your own drum as this particular hobby will let you collect any type of coin you want.

But setting a clear goal for your collection will make you anticipate even more to complete the ‘perfect collection’ and to display it for everyone to see finally.

Seek help from experts or other coin collectorsCollecting coins

Numismatic News and Coin World are reliable sources of information.

Still, aside from these websites, to further widen your knowledge on your hobby, you can also join a coin collecting club online, attend mini-seminars held by coin collecting shows, or talk to a reliable local coin dealer or older collector for some piece of advice.

There is no better way to perfect your coin collecting skills than to find sources of information and your source of coin collecting supplies.

Conclusion

When building a solid coin collection, it is best to give your utmost care and attention from the very start.

Only focus on sets of coins that interest you and start collecting from there. This hobby can be very rewarding, and if you keep the tips in this guide in mind, you are on the right path to becoming a better collector.

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