| ou new to coin collecting or want to start the | | | | information you have, the better your chances of |
| hobby? If so, there are a few things that you | | | | knowing a good deal when you see one. |
| should know in order to avoid making some of | | | | Tip #4: Seek Out a Mentor |
| the same mistakes a lot of new collectors have | | | | If you don't know any experienced coin collectors, |
| made. | | | | seek some out. Befriend someone at a local coin |
| Tip #1: Don't Clean Your Coins | | | | auction or join a forum like Bounce ideas off of |
| I tried to do this when I started out in the hobby. | | | | them and learn as much as you can from them. |
| If the value of the coin partly depends on its | | | | Most numismatists love to share their knowledge |
| condition, it seems logical that cleaning a coin will | | | | to help those just starting the hobby. |
| improve its condition and, in turn, its value. Don't | | | | Tip #5: Learn About Grading Coins |
| make this mistake. There really isn't anything that | | | | If you're going to be spending a lot of money for |
| you should do in order to clean the coin. Any | | | | a coin or you want to make sure that there is |
| attempt to do so can be seen by another | | | | little dispute over the value of a coin that you are |
| collector with a good eye. It will not increase the | | | | wanting to invest in, make sure that you |
| coins value. | | | | understand how coins are graded. You can read |
| Tip #2: Handle the Coin by Its Edge | | | | about different coin-grading methods at your local |
| This one doesn't matter as much if the coin's | | | | library or online. You don't have to be an expert, |
| been handled quite a bit before you got a hold of | | | | but it helps to know what to look for when |
| it. If the coin is uncirculated, however, you want | | | | shopping for a coin. |
| to make sure that you put it in a plastic or mylar | | | | If you are buying directly from a dealer, make |
| coin holder. If the coin is out of its case and you | | | | sure that they belong to a group like the |
| need to hold it, grab it by the edge of the coin. | | | | Professional Numismatic Guild (PNG) so that you |
| This will keep your fingerprints off of the face or | | | | can be reasonably certain that they abide by a |
| obverse (tails side) of the coin. | | | | set code of ethics in their business. |
| Tip #3: Don't Pay Too Much For a Coin | | | | If you are wanting some assurance that the |
| Like anything, it's tough to know when you've paid | | | | condition of the coin is as stated by the dealer or |
| too much for something... actually, it's tough to | | | | the packaging, buy an encapsulated coin that has |
| know beforehand that you'll pay too much for | | | | been graded by PCGS (Professional Coin Grading |
| something -- it's usually pretty evident later when | | | | Service) or NGC (Numismatic Guaranty |
| you've overpaid. It's tough to figure out the true | | | | Corporation). |
| value of a coin. There are monthly value sheets | | | | Collecting coins is a great hobby that combines art |
| that you can subscribe to or find online. These are | | | | and history. It's an enjoyable hobby that you can |
| fairly good guides, but they aren't always the | | | | share with others. The more you educate |
| end-all, be-all. | | | | yourself about collecting coins, the more you'll |
| Try to find out what price local and online dealers | | | | ensure your chances of getting a good return on |
| are selling (and buying) their coins. The more | | | | your investment and the more fun you'll have. |