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Pay Heed to These Tips When Collecting Rarest of Coins

Coin collection is a hobby that results in a rewarding experience and this article will surely land you in a better place as a coin collector. Thank us later.

  1. Be patient

Before you go ahead and buy those rarest of silver dollar you find, take all your time and do some due diligence on the same. Go a little wide in the beginning and ascertain what types of coins you are interested to collect. Do you want historical, artistic or quality coins? Read a few elemental books when it comes to gathering, grading and caring for your coins.

  1. Specialize

After you are acquainted with the basics, narrow your concentration and become an expert in a certain set of coins. Seek what interests you. The more you specialize, the easier it will be for you to learn the grading, value and lesser the chances of you getting ripped off. And this will render this activity more fun.

  1. Set goals

Once you have narrowed your preference on the specific set of coins, time to set some goals. It is gratifying to complete your collection and showcase it to feel proud. When you have set some clear goals, it will increase your love for this hobby in tenfold.

  1. Always look for professional help and guidance

Don’t refrain yourself from getting any kind of professional help particularly when it comes to grading a coin. Additionally, learn and educate yourself more from an older collector and you may end up with endless invaluable advice. Many local dealers and coins shops tend to know many experts on the basis of their names.

  1. Speak the language

This is probably the best tip to pay heed to. Get yourself familiarized with the lingo the numismatists tend to use when it comes to discussing a coin. Learn all about bag marks, business strikes, brockage etc. that will help you interact more productively with the dealers or when attending your very first coin show. You will find many down to earth and enthusiastic dealers that will be very amiable and helpful. You can also browse the PCGS website as it has a detailed glossary of lingo you should get familiarized with. And at the very least you should be familiar with the coin anatomy. The main components of coin anatomy are: Date, denomination, designer’s initials, edge, field, legend, and mint mark.

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