There’s a reason why the global coin collecting market is worth an estimated $17.59 billion. Every day more collectors are learning about the joys of maintaining a coin collection.
Unfortunately for beginners, there are a lot of coin collecting errors that you can make early on if you aren’t careful. That’s why we made this article. In it, we’ll teach you these mistakes and give you some tips on how to avoid them. Let’s get started!
1. Not Handling the Coins Properly
The oils on our skin can damage coins. So, ideally, you want to handle them as little as possible and with cloth gloves on. However, if you do use your bare hands, then make sure you pick the coin up around the diameter side.
Never place your finger directly on the face of the coin.
2. Cleaning the Coins
Our advice for cleaning your coins? Don’t! Any form of cleaning, from dry clothes, to chemicals, come with significant forms of risk for your coin. So, let it be. Or, if it’s really dirty, then take it to a professional cleaner.
3. Not Storing the Coins Properly
Coins are easily susceptible to damage. So, when storing them you want to avoid things like moisture, high temperatures, or low temperatures. This makes places like attics or basements poor storage facilities.
The best place is a personal safe or a deposit box at a bank. If you’re worried about moisture, then store them with moisture packs that absorb any potential moisture.
4. Not Purchasing Coins from a Reputable Dealer
Sadly you can’t trust everyone in the coin collecting industry. There are a lot of people without the expertise to accurately identify a certain coin or its condition of it. Or, worse, there are people out there that actively try to scam collectors.
So, to avoid them make sure you research your dealer beforehand. Or, if you need a suggestion, then visit the Token Shop for someone you can trust.
5. Selling Your Coins Right Away
Remember that most coins increase greatly in value over time. So, be careful the next time you try and sell a coin at the local pawn shop. Instead, wait a few years and try it with a reputable dealer. You’ll be surprised by how much money you can make.
Enjoy Learning About Common Coin Collecting Errors? Keep Reading
We hope this article helped you learn more about some of the common coin collecting errors that amateurs make. If you made any of these mistakes, then don’t panic.
Simply learn from your error when moving forward so that you don’t accidentally do it again. Mistakes are part of becoming an expert.
Did you enjoy this article? If the answer is yes, then you’re in the right place. Keep exploring to find more topics that you’re sure to love.