Coin Collecting Tips

It is never too early or too late to have a hobby. Some people are hobbyists for fun while others see a bigger picture; and that is to make money.

Coin Collecting Tips #1

Some objects that may seem inexpensive now may become valuable or even priceless later.

A few good examples are baseball cards, toys and stamps. Many people have made a fortune by collecting and selling these on auction sites like EBay. Another collection that can become profitable is coin collecting.

Coin Collecting Tips For Starting A Coin Collection

Getting started collecting coins is as easy as deciding what kind of collection you want. Coins are made every year and some like the U.S. state quarters are introduced over several years so focusing on a particular time period and location is important.

Conducting research using a coin collector reference book or the web can aid in learning about coin collecting. You can learn almost anything about the types of coins to be collected and a good book will help you to get up to speed on how to properly start your collection.

Another good source of information is subscribing to a coin collecting magazine such as Coin World or Coinage Magazine. Your local coin shop can also be a good place to get information and to meet other collectors.

Being a member of a coin club can also build your network. Some members may want to part with a particular coin in exchange for another, etc.

Silver Coin Prices Keep Escalating

Coins that are no longer used generally have more value than those that are still in circulation, because coins in the past were made of 100% silver or gold. In 1965 U.S. coins started being made of 40% and 60% copper due to the rising price of silver. This has made the value of these coins rise year after year.

After completing a particular collection, the coins should be stored in a nice folder or album. This will keep them clean and easy for you to carry around and display.

Coin Collecting Tips #2

Coins can be cleaned by soaking them in any of the following liquids: vinegar, rubbing alcohol, lemon juice or ammonia which will remove any dirt or encrustation that’s on the coin when it was acquired. Afterward, they should be air-dried or patted dry with a soft cloth. Rubbing or polishing the coins is not advisable since it scratches and will decrease the market value of the coin.

So whether you are a beginner coin collector or a novice coin collector it is a fun and interesting hobby.