Starting a coin collection sounds like something you’d do when you were a kid. However, with the right approach, coins collections can be a sound investment. Coinage has a history nearly as old as human civilization. Since humans have been trading, we’ve used coins as a medium of exchange. Some coins have even held their value over all those years. Before you start buying them, you should learn about the basics, though. That way, you’ll easily craft a winning strategy.
Precious Metal Coins
Above all, precious metal coins have been the most popular throughout history. These are coins minted with a certain amount of a particular metal. For example, gold eagles are still being made by the US mint. These coins contain pure gold, and they can be up to 99% pure. There are plenty of other metal coins that are worthwhile too. Just take a look at a few silver price charts. It doesn’t take an expert to see that silver has been a great investment for a long time. Plus, silver doesn’t cost as much as gold. Thus, investing in them doesn’t cost nearly as much.
Titanium is another metal that’s become popular in coinage. No matter what, most metal coins are going to hold their value. Take good care of them, though. Otherwise, small defects could detract from their overall worth. Store them somewhere safe from light and moisture. Nothing degrades a coin faster than heat and light. Assuming you’ve done that, metal coins tend to last forever.
Error Coins
Every now and then, mints make a mistake whenever they’re issuing new coins. Although it might sound strange, those mistakes can make the coins valuable. Look around to see if you can find coins with small imperfections. Then, compare those to whatever you can find online. Certain batches of coins are well-known for their specific defects. These still fetch impressive prices on the open market. Still, if you’ve decided to invest in them, you’ll want to store them safely. Otherwise, degradations can remove some of their value. Use the same methods you would’ve used to keep your metal coins sage.
Time Period Coins
Finally, coins minted during specific time periods often command a high premium. If you’ve found a coin from Colonial America, it’s probably worth more than its face value. The older the coin, the more it’s worth usually. Even Roman coins are still found in circulation from time to time. These have been around for literally thousands of years, and people still pay for them. Some historical time periods are more popular than others.
Where to Find Coins
Even if you’ve decided to invest in coins, you might not know where to find them. There’s plenty of markets where you can buy them online. When you’d like to buy metal coins, those are usually the best places to shop. For other types of coins, you might have to look a little harder. Coin shows are popular amongst traders, and you can find some exotic stuff there.
Storing Your Coins
Don’t get ahead of yourself whenever you buy a coin. Before making a purchase, you should figure out where you’ll keep them. Sometimes, people like to open a safe deposit box at the bank. Then, each time they get a new coin, they’ll deposit them there. Other people prefer keeping them at home. Either way, don’t just loosely toss them into a drawer. They’ll be exposed to the elements if that happens. Instead, you should get a special container to keep them in. That way, no water or light will reach them. Preserving coins is the best way to make sure they’ll remain valuable.
Coin Collections for Beginning Investors
Starting a coin collection is much easier than most people think. First, you’ve got to acquire something to store them in. Otherwise, your coins won’t last long. Once you’ve done that, you just have to buy some coins. Finding metal coins is still rather easy. Just look around online until you find a reputable marketplace. Then, make a purchase. Other coins take a little more effort to locate, but you can still find them if you try.
