The Beginner’s Guide to Starting a Coin Collection

Coin collecting has been around for centuries. Millions of people from all different countries and walks of life enjoy this exciting hobby. There are plenty of reasons why someone may want to get into numismatics. Whether it is for financial gains, entertainment, excitement, or just personal pleasure, the tips below will help you get started on your collection!

Educate Yourself

Background Information

Coin collecting can be a very intricate hobby. It is a very specialized field that requires a lot of background knowledge to truly succeed. Take your time starting out and do your research.

There are a lot of resources available to provide education on the history of numismatics - from blogs and magazines to podcasts and videos, the options are endless. Taking the time to learn about the art of coin collecting before diving in will help you succeed in the long run.

Consider visiting the American Numismatic Associate website, including their Ten Rules of Successful Coin Collecting, as a starting resource.

Types of Coins

Not only is it important to learn the history of coin collecting, but also to learn about coins themselves. Numismatics are much more intricate than they appear.

The different sections and features on a coin all have distinct names. To ensure you are purchasing the best ones for your collection, you should take the time to learn all about the features of a coin and the different types on the market.

Starter Coins

Themes

A great way to start a collection is to focus on a theme. Perhaps you want to buy a birth year proof set or a set featuring a certain image. Start slow and grow your collection from there!

Many coin collectors are natural history buffs. If that sounds like you, start off by collecting coins from a certain historic year of interest or centered around a specific historic event. The world of coin collecting can seem overwhelming. So it can be helpful to narrow down what you are looking for in the beginning.

Silver Coins

Silver numismatics are essential to any coin collector’s collection. Start off your collection by buying silver coins online. Investing in silver is a safe bet and a great way to begin or diversify your current coin collection portfolio.

Prepare for the Collection

Storage

There are several things beyond just coins that you will need to start your collection. For starters, you will need some type of storage. Coins may be made of metal, but they can be easily damaged if not properly cared for. Purchase a good-quality storage system for your coins to keep them highly valued and in tip-top shape.

Magnifying Glass

A magnifying glass is another important piece of a coin collector’s set. You want to ensure the coins you buy are top quality and come without any dings, scratches, or errors. Using a magnifying glass to examine your coins is a great way to ensure you are getting what you pay for!

Take Your Time

When starting a coin collection, you may be tempted to dive right in and buy as many numismatics as possible. However, starting small and taking the time to learn about coins will be more valuable in the long run.

Coin collecting can be an expensive habit, but it is worth it if you take your time to build your portfolio slowly, rather than rush into any purchases you may later regret. If done correctly, coin collecting can be one of your best investments. So, take it slow!