As promised, here are the next five rules for successful coin collectors to abide by. Read on to learn more about building out a profitable portfolio that you will be proud to showcase for years to come.

1. Become an Expert – The more you study numismatics, the greater your ability will be to spot the coins that have a special quality to them; the ones that stand out from the pack. More than just being shiny and flashy, an old and worn out coin can actually be the most useful addition to a collection, and it takes a connoisseur to identify its worth.

2. Grading Skills – It’s crucial to find an expert coin dealer you can trust when it comes to accurately grading your coins. The onus is also on you, the collector, to learn as much as possible so you can grade your coins as well. The more auctions you attend and coins you review, the better your knowledge base will be.

3. Long-term Investing – The longer you can hold on to your collection, the more it will be worth. When you purchase coins, expect to not profit off them for a period of years, so that they can have a chance to increase in value. Rather than holding off for a few years, hold off for a decade or more to really make your investment worthwhile.

4. Favoring Quality – If you have a set budget for your coin collection over a given time period, you’re better served buying a few really special coins than purchasing a large number of inconsequential pieces just for the sake of filling up your portfolio.

5. Start Small – If you are just starting out as a collector, you shouldn’t spend a crazy amount on an expensive coin that you know nothing about. Instead, start with a more affordable purchase and take your time getting your feet wet by learning about the market. Once you have solid footing, you can purchase something a bit more expensive, and continue to build on that over time.

If you would like to learn more about building out your coin collection, we are here to help. Visit us online today, or call (513) 621-1996 to speak to one of our rare coin dealers and learn more!