24/06/2021 by Josephine Coins Ltd
A Beginners Guide to Coin Collecting
Many people start their coin collection after discovering an interesting coin in their pocket change, inheriting a coin collection, or acquiring a few coins through other means. Others believe they have discovered a rare and valuable coin and are hoping to become wealthy quickly. Regardless of where you begin, here are some pointers to help you have an enjoyable and sustainable coin collecting journey.
⦁ Start Small
Unless you're a millionaire who doesn't mind a thousand-dollar gamble, you'll want to ease into the hobby and learn the ropes before making any major purchases. Begin with smaller coin purchases and coin sets that are simple to put together. Learn about the coins, their history, how to grade them, coin preservation, coin cleaning, and coin pricing.
Many great coin collectors began by amassing a collection of Lincoln pennies. They are still in circulation, and the majority of them can be purchased for a reasonable price at a local coin show, coin shop, or online. If you have a larger budget, you might want to start with a collection of Indian Head pennies or a type set of United States coins.
⦁ Collect for Love
"What should I collect?" many people wonder. And to answer that, we highly recommend that you should collect what you like.
Choose a coin or a series of coins that pique your interest. It could be a fascinating design on the coin, the coin's history, or a story associated with the coin. Some young collectors collect world coins that have a common subject, such as queens, fish, buildings, and flowers.
Many factors can affect different individual’s opinions on a coin. Use the Internet to learn about the history of a coin or its origins. Regardless, if the coin gets your interest, you will learn about it and learn to avoid costly errors on your journey.
Finally, you should take care not to fall under the pit to "make a quick buck," as you start your journey to coin collection. You will meet people and skilled coin dealers who try to sell your coins at a low price. Collect what you want and buy your coins from a trustworthy money dealer.
⦁ Know How to Store Them
Even though we think that the coins are made from hard metal, the surface of a coin is very delicate and can easily be damaged. Different metals respond to the atmosphere around them differently. That is why coin preservation and coin cleaning are highly important skills to acquire if you’re planning to go the coin collecting road.
The safe storage and handling of coins will protect your coins' value over future generations. Grab coins with gloves of cotton or latex. If these are unavailable, then the coins should only be handled at their edge.
⦁ Take Your Time
Building a solid collection of coins is not a race. It’s something that should be enjoyed over time. Most coin collectors who hurry to sell their coin collections end up being frustrated very quickly and losing money along the way. Take your time and get to know the coins before you buy them.
Do not buy the first medal that comes your way, too. Wait for the coins that you are looking for and are offered at a price you are prepared to pay. Remember that the collection of coins is a lifelong hobby, not something that you can perfect overnight.
⦁ Get Involved in the Community
Joining a coin club is one of the best ways to learn more about coins and keep your interest in coin collecting alive. Local coin clubs can be found in many cities and towns across the United Kingdom. A quick Internet search will reveal whether or not one is nearby.
There are also specialty coin clubs that specialize in error coins, early British copper coins, Liberty Seated type coins, and so on. Whatever your area of interest or level of expertise, there will always be a coin club to suit you.
⦁ Go to Shows or Shops
Many coins are available for purchase online. Unfortunately, you will not be able to hold, inspect, or compare the coins you are about to purchase. You can evaluate the coin firsthand by visiting a coin show or a local coin shop before purchasing it.
Furthermore, a reputable coin dealer can provide you with valuable information that can help you with your purchase. Many coin shows also host mini-seminars to assist new collectors in honing their coin collecting skills. So, take advantage of these events to further your journey to expand your coin collection.
Taking the first step towards your coin collection hobby might seem overwhelming. However, we believe that with the right assistance, you can have a better shot at sustaining this passion for years to come. That’s how we, at Josephine Coins Ltd, can help.
We are a trusted numismatist based right at the heart of London. Make the first step to your journey today.