Coin Collectors: How to Get the Most out of Your Collection
Thursday, February 1, 2018, 6:00 PM | Leave Comment
When people start collecting coins, they want to start with a big collection right away.
However, it takes years of research and hard work to build a decent collection. Collecting coins is an endeavor that you will get better at the more that you pursue it.
Review tips on how you can start collecting or improve your current skills and knowledge.
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Start Small
Collecting coins does not have to be an expensive venture. Start with a small collection and then save money to acquire a bigger one in the future. During this time, learn more about collecting basics and gain more knowledge before you invest more money.
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Gather Resources
Gather as many reliable resources as you can find on coins. Read the customer reviews to see which books or guides are more authoritative than others. Check the background of anyone who claims to be a coin expert. You don’t want to get set back by untrue or outdated information.
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Work with Established Dealers
Finding coin collectors is easy, but harder if you want a trustworthy one with good reviews and references. Research the background of each coin dealer first.
An additional option is to look for dealers who are members of the Professional Numismatists Guild association. Look into a handful of other professional grading services and organizations that exist.
Look mainly for authenticity as you check the coins’ graded values. Find variety from dealers like Rocky Mountain Coin that handle coins, collectibles and currencies. Review real pictures of their coins instead of stock images.
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Continue Your Research
The most qualified professionals will continue their education long after they receive a certificate. Continue to research the basic and advanced components of collecting coins partly because the monetary values change regularly, even as the grading system is not likely to change.
Also, different numismatic associations continue to come out with new information that interests collectors.
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Find Mentors
You’re always at an advantage when you work closely with mentors and experienced collectors. The Internet and books have boundless amounts of information available, but the sources may be outdated or limited.
Find a mentor who is still active in the field and has been for years. You will gather tips and learn tricks of the trade that are not found with generic knowledge.
You need to look for quality and maintain it if you want to resell the coins. A single mistake could cost you thousands of dollars and set your collecting back for years. Perform the necessary research as you build your long-lasting coin collection.
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