6 Common Mistakes with Coin Collections to Avoid for Beginners

While most people know that coins began to appear around 650 BC still, it wasn’t until the 14th century that coin collection became a trend. If you’re new to coin collecting, there are many newbie mistakes with coin collections you can make. 

Knowing the tricks to the hobby and what could deter your progress will help you discover how coin collecting can be fun. If you’re ready to begin your first collection, that’s excellent news. Continue reading below to learn the mistakes to avoid as a beginner. 

Mistakes With Coin Collections

Generally, when you begin coin collecting, it becomes a lifelong passion. While it’s common for new collectors to make mistakes, even experienced collectors get tripped up occasionally. Here we’re looking at a few mistakes you should learn about before you begin your coin collecting hobby. 

1. Check Your Dealer’s References 

Not vetting your dealer can lead to buying a fake coin. Many experienced collectors share that producing counterfeit coins isn’t a difficult task. Verifying that your dealer is bonafide and is well-versed in the nuances of numismatics is critical.  

2. Learn to Identify Fakes

There are many fakes in this world of collectors, and the way to ensure you don’t get duped is a thorough examination of a coin. Many seasoned collectors say, examining with a microscope and comparing against a similar coin is the only way to avoid making this mistake. 

3. Learn to Clean Your Coins

Compromising the finish of your coins is a renowned beginner’s mistake. There is no need to buff your coins to a metallic shine like a vehicle. If your coins are discolored or appear damaged, it’s recommended that you use a professional service such as the Numismatic Conservation Service to get them cleaned appropriately. 

4. Join a Coin Collecting Group

Joining a community that shares your passion for coin collecting will help you sort out many of the nuances that may be challenging to you. Learning the right way to store, clean, and buy coins becomes much easier when you have a community where you can gain guidance and input. 

5. Researching Your Hobby

When you’re working on expanding your collection, it’s essential to do your research. Like any hobby, learning never ends. When you’re presented a coin by a dealer that you’ve never seen before, learning what to look for will help you know if it’s worth considering a purchase or you should move on. 

6. Not Insuring Your Coins 

A coin collection has a worth that is intrinsic beyond each coin’s face value. Insurers have specific policies for these valuable collections that you buy, or you can add your collection into your home or renters insurance policy. 

Starting Your Collection

Now that you’ve learned a few things to avoid, you are ready to begin learning about collecting valuable coins. Avoiding mistakes with coin collections is essential to build a coin collection that can grow in value.

We hope this article helps you start on your new hobby; come back to read more informative information here.