There is always a learning curve when one begins a new hobby and coin collecting is no different. To make your introduction to the hobby smoother, we at Coins Plus in Cincinnati, OH, have curated this list of the most common mistakes made by new coin collectors. Read on to learn how to avoid making these errors with your own collection.

Top 3 Coin Collecting Mistakes to Avoid

1. Storing & Handling Coins Improperly

Coins are delicate and should be stored and handled with care. Many new coin collectors make the mistake mishandling their coins.   The single most often mistake collectors make is to clean their coins.  Please, DO NOT EVER clean your coins to attempt to “improve” them.  Experienced collectors prefer their coins in original condition.  

The oils on your fingers and palms can also harm coins over time. Instead of handling coins directly, hold each piece by its edge, between your thumb and forefinger. As you become a more experienced coin collector, you may want to use soft cotton gloves when handling particularly fragile specimens such as uncirculated or proof coinage.

Lastly, a novice collector may have questions on the correct ways to store and maintain a collection.  We have many different types of holders and albums for coin storage that have been proven safe for your collection  

2. Confounding Age With Value

A coin is not necessarily valuable because it is old. For instance, you could have an ancient Roman coin that is over 1,000 years old but worth less than $30. In reality, a coin’s value depends on supply and demand. The rarer the coin and the more its sought after by coin collectors, the more valuable. Keep this in mind when you are browsing coin catalogs, attending coin shows, or shopping at your local coin dealer. Do not buy a coin based on age alone.

3. Conducting Minimal Research

As a novice coin collector, it can be easy to feel overwhelmed with numismatic information. However, doing research is essential to making smart purchases. While the internet is a great resource there is much misleading information.  We recommend you visit your nearest Coins Plus location to ask questions and  browse our extensive numismatic library. Additionally, our experienced coin dealers suggest joining a local coin club like the Cincinnati Numismatic Association, so you can meet other local collectors and attend educational presentations.

We can help you avoid many of the entry level mistakes making your hobby more enjoyable for you. For more tips on starting your first collection, call Coins Plus at (513) 621-1996 or visit us online for more information.