As someone who is just starting to buy and sell coins in an effort to amass a valuable collection, it is worthwhile to learn as much as you can about how you can build that collection. Use the pointers below to assist you in buying quality pieces and avoiding mistakes.
Have Your Coins Appraised
Once you've started to collect a number of coins, it is wise to go to a professional coin appraiser and have them evaluate your coins. You might not think this is necessary, as you already know how much you've bought the coins for, but having a professional look at your coins can allow you to learn the current market value of your coins and your collection as a whole. This can be important information to have when you want to sell different coins, and presenting other collectors with an appraisal certificate may allow you to command higher prices when you're ready.
Wait Before Buying and Selling
When you see a coin you like, you might want to buy it right away, particular if the seller is enthusiastically describing why it belongs in your collection. However, take some time to do some research before picking up any coin.
It is important to wait before you sell a particular coin as well. In addition to getting an appraisal price, it's worth looking up the price of an ounce of whatever metal your coin is, so that you have some idea of the bare minimum you should accept for a coin.
Don't Clean Your Pieces
Whether you're about to sell some coins or simply want them to look brighter, you may entertain the idea of cleaning them. However, cleaning old coins might devalue them. Abrasives in cleaning materials might scratch the surface of the coins you clean, for instance. Be sure to store your coins safely, in plastic bags or glass cases, but take care to keep them in their natural condition instead of cleaning them.
Engage with Other Collectors
It is vital that you interact with other collectors if you want to learn more about the coins you are buying and selling. Some collectors can give you key information about different coins to look for and describe why you might want to add them to your collection. Some other collectors might be able to suggest reputable dealers or point you in the right direction toward people who might have the coins you want. Over time, you might even do some business with the collectors you chat with.
The information laid out here will help you to have a collection you can be proud of. Be sure to get to know coin dealers in your area (such as those from American Precious Metals Inc) so that you can get more guidance along the way.