Over a third of the United States has some experience with collecting coins in some form or another. While many of these people are children who start an amateur collection, some are much more serious, but jump in without knowing what they are doing. So, how can you ensure you avoid some of the worst beginner coin-collecting mistakes people often make?
1. Not Doing Enough Research
While many people get into this area of collecting fast, this often leads to mistakes. There are so many different types of coins available, and enough forgeries, that it is important to understand what you are collecting.
Make sure to familiarize yourself with the most common books and online sources which can help you learn more about collecting coins. Learn about things like mint marks and coin grading, so you can ensure you pick up coins that add value to your collection too.
2. Being Too Rough With the Coins
When handling or storing coin collections, you want to be very careful. If you do not, you could end up in a situation where marks and pits start to appear on their surface from dents and bumps.
Do not touch coins with your bare fingers, as your natural oils can react with them. Instead, use cotton gloves, and only hold them over a surface that will not dent the metal of the coin.
3. Not Cleaning the Coins
You must ensure the coins do not have chemicals on them that can cause harm over time. Use specialist coin-cleaning supplies to remove any excess dust, dirt, or other contaminants. Also, avoid using harsh chemicals, as these could affect the surface of the item.
Cleaning the coins too much is also a common issue. You only need to undergo this process once in a while, and even then avoid rubbing or scraping the coins very hard.
4. Failing to Authenticate the Coins
When a place has challenge coins for sale, coin-collecting etiquette would suggest they would have a way to authenticate them. Most places, such as the above, are professionals who can give you all the information you need. If they do not, you should be very careful, as there is no way for you to ensure what you are buying is the real deal.
5. Not Setting a Budget
Anyone in the coin-collecting community can tell you horror stories of people who got excited and ended up spending all their money on coins. When this is only one person who faces the consequences this is bad enough, but sometimes this might impact their immediate family too.
Be sensible and think about how much you want to spend on coins. Set a budget for each month, year, or quarter. Then, unless there is a special occasion and you are sure you can afford it, do not go over this amount.
Avoid Beginner Coin Collecting Mistakes
These tips should help you avoid some of the biggest beginner coin-collecting mistakes. Still, there is a lot to learn, which is why our blog has so many more things to read on it.
You can learn more about coin-collecting or even many other types of hobby. Who knows, you might find something else to occupy your time. So, for all the latest details, check out our other articles today.