There are many benefits to starting a collection at any age. It helps build organizational skills, helps expand knowledge and expertise in various areas, and gives you an opportunity to interact and socialize with new people. However, starting a coin collection as an adult can be intimidating, especially if you have no prior knowledge about coins. If you are interested in starting a new coin collection, here are a few tips that will help you with this task.
Get the Necessary Supplies
If you are interested in starting a coin collection, it is important to have the right supplies. There is no point in purchasing any type of coin if you don't have the materials to properly store it and protect it from damage. However, if you have never collected coins before, you may be unsure about which supplies are necessities and which are optional items. Some of the items that coin collectors recommend every newbie have include:
- A magnifying tool to examine your coins with
- A price guide to price your coins and see which ones are in the same niche you are collecting
- Protective sleeves or coin holders to store your coins in
- Cotton gloves to wear while handling the coins
- Felt or cotton to place the coins on while examining them
Pick One Coin Niche to Focus On
When you are beginning a coin collection, it is important to start with one niche of coins. This can be coins from a specific country, time period, metal type or design. There are so many different types of coins out there that it can be easy to become overwhelmed if you don't focus on one niche to start with. Selecting and focusing on just one area allows you to learn about just that one niche and really allows you to hone in on the coins that you need. As you grow comfortable collecting coins, you can expand your collection and include new niches, but starting out small and with a focus on a specific type of coin is beneficial if you are new to coin collecting.
Buy From Trusted Sources
Once you have all of the needed supplies to start your coin collection and you have selected a niche to focus on, you are ready to begin to buy coins. There are many different places you can buy coins from. You can buy coins from online auction websites, at coin shows, from coin dealers who have storefronts, pawn shops or from estate sales. Unfortunately, there are many fake coins floating around. Avid coin collectors know what to look for when they are buying coins. They have had the time to research coins and know the tell-tale signs of a fake one. New collectors don't have this same knowledge. As such, buying online or from individuals can be challenging. When you are new to coin collecting, it is recommended that you buy your coins from a trusted source, such as a licensed coin dealer in your area. This helps ensure the coin you are buying is legitimate. As you begin to gain more knowledge of coins, you can work your way up to buying from other sources, but buying from a trusted source is always recommended in the beginning.
If your children have left the nest or you have retired and have found yourself with some free time, you may be looking to take up a new hobby. Starting a coin collection can be a great way to spend your free time. It gives you something to chase after and gives you the opportunity to meet new collectors as you hunt for coins. If this is something you are interested in getting into, you will want to get the necessary supplies, hone in on one niche and begin your collection by buying your coins from a trusted source. Click here for more info on coin collecting.