Starting a new hobby can be daunting, but when it comes to being a coin collector, there’s no skill to master or form to perfect. Instead, you can just immerse yourself in an area of history you already like and build a collection you are proud of. If you are just dipping your toes into the waters of numismatism, use these frequently asked questions to gain your footing.

4 FAQ About Coin Collecting

What makes coins valuable?

Coins can vary widely in price, but the most expensive collector’s items are often sought after for their rarity. This means not many still exist in the world, and those who can get their hands on them have to shell out a pretty penny. Some coins are valuable for their age or because they were minted during a significant historical event, such as WWII or a certain presidency. Other coins are high-priced because of accidental errors made during the minting process, resulting in a slightly different design than their counterparts.

How can I get started?

The best way to begin your journey as a coin collector is to start researching. Choose a niche that you have an interest in, such as gold or silver bullion coins, coins minted in San Francisco, or 20th century commemorative coins. Once you start to memorize the various designs and learn the history behind them, it is only a matter of time until you develop favorites. You can then reach out to local dealers to find out the prices and availability of these picks.

What do I need to store my coin collection?

These days, there are a variety of ways to store your coins. The most important tip is to keep them separated—storing the coins together will allow them to rub up against each other, causing permanent damage. For some popular collections, there are books with labeled slots for each coin. If you’d prefer to come with your own arrangement, you can assemble a binder with plastic, transparent pockets.

How can I take care of my new coins?

Many coin collectors make the mistake of cleaning their coins, thinking that it will keep them in the best possible condition. However, any type of cleaning will lower the value of your coin collection. It can quickly erase the patina that took decades to develop and gives your coin the majority of its value. In the worst cases, cleaning can even cause tiny scratches in the soft exterior of the metal, permanently dulling the finish.

If you have additional questions about starting your journey as a coin collector, reach out to Coins Plus of Cincinnati, OH. They contribute regularly to the Redbook and Bluebook, two key resources for coin collectors throughout the country. They can also help you buy, sell, or trade coins to expand your collection. To learn more about this trusted coin dealer, visit their website or call (513) 621-1996.