Whether inspired after a gift or discovery of a rare coin, starting a coin collection is both enjoyable and monetarily rewarding. The right coins will become an investment, increasing value over the years. To begin looking for local rare coins, you’ll need the right tools, mindset and research to discover the right coins for your collection. Coin collectors must be able to differentiate minute details to determine rare collectables, while negotiating with vendors on price.
1.) Focus on collecting the coins that you like, not just their value. Just like stocks, their value fluctuates with the market and availability. Experienced collectors recognize that focusing on value over enjoyment will lead to disappointment. Researching values can add to an educational aspect, but only purchase coins that spark your interest.
2.) Much like with any project, set goals. Even if you’ve begun an eclectic collection built on coins that struck your eye, you can create direction from each by focusing on patterns for a more complete project. Furthermore, when you meet these goals you’ll find even more enjoyment from your hobby.
3.) Build relationships with dealers; the effect is two-fold. You’ll not only receive honest service, but will receive notification when they locate a coin for which you’ve been seeking.