Coin Collecting 101

Coin collecting can be a rewarding hobby and a great investment. Don’t be intimidated! With a little research and attention to detail you too can start a collection.

Numismatic (Coin Collecting) is the science of coins under an economic, legislative, metrological and artistic point of view. It has a great importance in the whole Historical and Archaeological science; as a matter of fact into the peculiarity of a people or age the Coin holds a fundamental role: Numismatic has always reflected the political, economical, artistic and social trends of the time in which it developed.

If you are interested in collecting coins:

• Buy a coin collecting book. Familiarize yourself with basic coin collecting before making any purchases. This can help you avoid costly beginner’s mistakes.
• Collecting from circulation is always a good place to start. There is no risk (if you decided you don’t want them you can always just spend them).
• Join your local coin club and learn from more experienced collectors.

How to handle coins:

• Never touch a coin anywhere but the edge. Fingerprints can reduce an uncirculated or proof coin’s grade significantly. When handling another collector’s coins, be sure to only touch the edge, regardless of grade.
• Avoid handling coins in front of your mouth. Small particles of moisture will eventually cause spots.
• When putting down a coin outside of a holder, only place it on a clean, soft surface. A velvet pad is best. Never drag a coin across any surface.
• When handling valuable coins, wearing clean white gloves and a surgical mask is suggested.
• Store coins at a constant, moderate temperature and low moisture. A variety of coin holders are available for purchase at coin shops and online.

Cleaning coins:

• DON’T! In most cases, cleaning a coin can reduce its value by half or more. Collectors prefer coins in their original state.
• Even wiping with a soft cloth will cause small scratches.
• If you do want to clean your coin: soak in olive oil or soapy water for a few days, thoroughly rinse with tap water, and allow to air dry.

Where to acquire coins:

• Coin shops - Knowledgeable shop owners can be a great resource.
• Coin shows - Usually have a great selection and competitive pricing.
• Mail order - Be sure to read over the return policy before making any mail order purchases.
• Internet - Again, be sure return policy is reasonable and watch out for scams.
• Auctions - Often the rarest and most expensive coins are only available at auctions. However, due to the exciting nature of auctions, people often bid too high and pay too much for items. Before attending an auction, visit some local shops and look online so you have a good idea of the actual worth of the coins you are interested in.
• Other Collectors
• Flea Markets, bazaars, etc. - Inflated prices and deceptive vendors can be common in these situations.
• Antique Malls! - Appalachian Antique Mall always has a selection of coins and proof sets for sale.

All information in this post is from www.mycoincollecting.com. It is a great resource for beginners.