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Starting a Coin Collection
It is never too early or too late to have a hobby. Some people
are hobbyists for fun while others see a bigger picture; and
that is to make money. Some objects that may seem inexpensive
now may become valuable or priceless later.
A few good examples are baseball cards, toys and stamps. Many
people have made a fortune by collecting and selling on auction
sites like EBay. Another collection that can become profitable
is coin collecting.
Getting started is as easy as deciding what kind of collection
you want. Coins are made every year and some are introduced
years later so focusing on a particular time period and location
is important.
Conducting research using reference books or the web can aid in
coin collecting. You can learn almost anything about the coins
to be collected and will help the collector discover those who
want to sell coins.
Another good source of information is subscribing to a coin
publication such as Coin World or Coinage Magazine. The local
coin shop can also expand the search for those antique coins
outside the collector’s city or state.
Being a member of a coin club can build the collector’s network.
Some members may want to part with a particular coin in exchange
for another, etc.
Coins that are no longer used generally have more value than
those that are still active, because coins in the past were made
of 100% silver or gold. Since the demand for silver coins
increased and they were difficult to produce they are now made
of 40% and 60% copper.
After completing the collection, the coins should be stored in a
nice folder or album. This will keep them clean and easy for the
individual to carry around and display.
Coins can be cleaned by soaking them in any of the following
liquids: vinegar, rubbing alcohol, lemon juice or ammonia which
will remove any dirt or encrustation that’s on the coin when it
was acquired. Afterwards, they should be air-dried or patted dry
with a soft cloth. Rubbing or polishing the coins is not
advisable since it scratches and will decrease the market value
of the coin.
Coin collecting can be a lot of fun. By deciding on a specific
period to begin with then searching for it, the collector will
have something valuable as an investment.