If you have only started to dip your toes into the world of numismatics, it is easy to feel overwhelmed. However, every coin collector has to start somewhere. The important thing is to take things slow and do your due diligence before making an investment. To kick-start your coin collecting journey, keep the following in mind.

3 Tips for Rookie Coin Collectors

1. Pick a Niche

The easiest way to start a lifelong coin collection is to focus on coins you love. Do not just search for the ones you have heard are most valuable—find out which pieces mean the most to you. Perhaps you are most interested in coins made around World War I or those that were circulated during a certain presidency. Maybe you would like to focus on gold bullion coins or those that feature unique illustrations of flowers or animals. Whatever niche of numismatics you are drawn to, use this as your ultimate guide.

2. Study the Best

Once you have settled on a particular type of coin or era in history, you can start to research specific coins in the group. Pay attention to which coins are most valuable, and try to figure out why. Some coins are more expensive because they were limited in circulation, or there were not many minted in the first place. 

Others are valued for rare errors, such as doubled-die mistakes, where the same design is printed twice, one slightly offset from the other. You can find out about the details and average auction prices of coins in respected publications like the Red Book and Blue Book.

3. Talk to a Coin Dealer

Once you have identified which coins you would like to own, head to a local coin dealer for some in-person advice. They can let you know if they have any of your favorite coins in stock or where you should look next. They will also offer personalized recommendations on which new pieces to add to your collection. 

If you have any questions about storing or maintaining your investments, you will get honest and accurate answers that will preserve the value of your collection. Later on, they can help by appraising coins that you are looking to sell.

To get some more perspective on becoming a coin collector, reach out to Coins Plus of Cincinnati, OH. Since 1972, their staff has been offering guidance to sellers, buyers, and general currency enthusiasts. From rare coins to bullion, you can trust their advice when building your collection and diversifying your investments. To learn more about their staff of experts, visit the website. Call (513) 621-1996 to speak to a coin expert.