As of 2022, the coin-collecting market is valued at over $14 billion, and there’s no sign it’ll decline in the near future.
Many people start collecting coins because they enjoy thinking about the periods in which they were made. Aside from that, many collectible coins are made from expensive materials, allowing people to earn money from them.
Although starting a coin collection is simple, knowing how to build a decent collection takes some time. To help you start yours, this guide outlines the main things beginners should do if they want to take up a profitable hobby.
Here’s how to start collecting coins in 2023.
Ease Into the Hobby
When you’re ready to start collecting coins, one of the most important things to do is ease into the hobby.
Coin collecting can be quite expensive, especially if you want rarer coins, like the centenario gold coin. Because of this, you should start with smaller and cheaper sets. Doing so will give you a better idea of what coin collecting’s all about, and you’ll avoid breaking the bank.
Store Coins Properly
No matter what kind of coins you collect, you must handle and store them properly if you’d like to maintain their value.
When handling coins, use latex or cotton gloves to avoid dirtying them with the oils on your skin. You should also gently store the coins in containers that prevent them from shifting when moving. Various types of coin holders will help you keep your coins in good shape, so look for something that suits you.
Visit Local Coin Shops
While you can quickly find online stores that sell coins, visiting local coin shops is a great way to see how coins look before buying them.
Not only can you get your hands on coins, but you can also talk to a professional that has years of experience with coin collecting. If you’re looking for something specific, they can help you find it at an affordable price.
Create a Plan
Another thing that’s crucial for finding success with coin collecting is having a plan.
Before buying anything, set a budget and research the value of coins. If you want to collect a certain set, determine which ones you’ll buy first and leave the rest for later.
With a spreadsheet or list, note the coins you’re missing to complete the set. You can then continue saving money until you have enough for the rest or begin working on other sets.
Now You’re Ready to Start Collecting Coins
If coin collecting seems to be up your alley, put together a plan as soon as possible.
Thanks to this guide, you can buy various types of coins without spending too much. All you must do is search online and visit coin dealers to gather more information for your coin collection.
To learn more about collecting coins, browse the rest of our blog!
