Coin & money collector

With the issuance of the "Statehood Commemorative Quarters" that are coming out on the market, this is a great time to become a coin collector! Even people who have never even thought of becoming coin collectors, or numismatists, as they are called in the business, have gotten into the act! Learn how you can start your own coin collection with the basic ideas given in this article.

The first thing you will need to do is to visit your local hobby shop. There you can purchase a magnifying glass, some coins, and some coin storage materials to start with. A magnifying glass is a valuable tool for looking at the fine details of each coin.

You will need to decide how you want to start your collection, and the choices are practically endless! You can collect them separately or buy pre-assembled sets of Lincoln pennies, Buffalo nickels, Mercury dimes, coins from foreign lands, and so on, to start your collection out with. You might even want to start a simple collection of old wheat pennies, for example, that had been issued. (They don't mint them anymore.)

There are several factors which affect the value of each coin, such as how many were minted, how many are in circulation, and what kind of condition each coin is in. There is a standard grading scale used to rate the condition of coins. The scale starts at poor which means the details on the coin are badly worn, and goes all the way up to the highest grade which is mint condittion. This means that the coin is in perfect condition.

Of course you will want to buy coins that are at least in reasonably good condition. And to keep them in their best condition possible, you will need to handle your coins and store them properly. A coin should always be held by its edges between your thumb and forefinger. Never touch the front or back of the coin as the oil from your skin can actually make marks on the coin.

Storing your coins or coin collection is as important as properly handling them in order to keep your coins in the best condition. There are several types of coin holders available on the market today. Keep your coins in their holders out of direct sunlight as well as out of damp places. Instead, store them in a dry environment.

A few good ways you can add to your coin collection are by visiting coin shows, answering ads in trade magazines, trading with family or friends who are fellow numismatists, or checking the Internet under the words "coin dealers" , for example.

Before you trade or sell any of your coin collection, you will need to know how much each of the coins is worth. (It's good to know anyhow, even if you keep them. Some coins are rare enough that they're so valuable that they need insurance placed on them in case of fire or theft.) You can consult coin value books, magazines, or professional dealers. Be advised that you should only deal with a reputable dealer and they might very well charge you for their services.

You can choose to collect coins purely for fun or as a money-making endeavor. Whichever you decide, read as much as you can about coins and their values, and keep your eyes open for opportunities to increase or improve the value of your coin collection!