5 Tips on Choosing a Coin Collection Strategy for Beginners
Let’s talk about starting a coin collection.
It doesn’t matter how you became interested in collecting coins. Maybe you enjoyed finding the US Mint’s state quarters, or the more recent “America the Beautiful” quarters.
Or maybe you’re fascinated by ancient coins—the silver Roman denarii and golden aurei, or the Byzantine solidi from the turbulent historical periods of Constantine, Justinian, or Heraclius.
However you got started, and for whatever reason, you like collecting them, it’s important to devise a good coin collection strategy. So here are some tips on coming up with a great strategy for your coin collecting.
1. Ease Into It
The first thing you should do is determine to start simple and start small.
Your coin collection budget likely won’t be very large, to begin with. And that’s okay—when you’re just beginning in coin collecting, you need to learn the ins and outs of the process.
This includes figuring out what types of coins you want to collect. It helps to begin with something as simple as the aforementioned state quarters, or the less expensive Roman denarii, and work your way up to scarcer issues.
2. Collect What You Find Interesting
There’s no specific answer to what kind of coins you should collect.
Let’s be honest—if you have to ask that question, then you shouldn’t be in coin collecting in the first place. But if you have a passion for certain coins, or certain civilizations or historical periods, go ahead and search for those coins.
If you like collecting military coins, this is a good place to start. Morgan silver dollars are another favorite, especially if you’re interested in American history.
There’s a whole universe of different coins to collect, from Victorian half-sovereigns and Islamic dinars to Corinthian staters and Ptolemaic tetradrachms. So find what works for you.
3. Store Them Properly
Remember, a big part of collecting is knowing how and where to store coins.
It’s also important to know how to handle coins, including using cotton or latex gloves. Safe storage of coins is critical. Invest in storage products, like Littleton coin albums, to ensure your collection is protected from weathering and tarnish.
4. Join a Coin Club
Look, coin collecting doesn’t have to be a solitary hobby.
There are plenty of others with similar interests, and there are many coin clubs in towns and cities around the country. The American Numismatic Association (ANA) is the largest organization in the country that’s devoted to coin collecting and outreach.
Join in and learn from the pros.
5. Go to Coin Shows and Coin Shops
These days, a coin collection strategy usually involves shopping online.
But, like everything else, this prevents you from being able to handle and inspect the coins you’d like to purchase. It’s also rather lonely.
At a good coin shop, however, you can make friends and learn new tips about which coins to buy and where to find them.
Find the Right Beginning Coin Collection Strategy
Coin collecting is a great hobby.
You can learn a great deal about human and economic history, and there’s nothing like owning a piece of money that hails from some of the most momentous epochs in the human story.
So follow these five tips to come up with the right coin collection strategy for you. And if you enjoyed this article, please check out the rest of our site.