Coin collecting is not only a rewarding and enjoyable hobby, but if done properly, coin collecting can be profitable. In this report and the video below, we will share some of the most important things to keep in mind when coin collecting. This is in order to maximize the rewards of assembling a profitable collection, regardless of your budget.
- The first thing is to make sure that you’re collecting an area with a solid base of other collectors. You can have the rarest coin in the world, but if nobody else wants it, then you’re not likely going to see much appreciation.
- Make sure you own coins that are attractive. To clarify, a great looking coins will always catch the eye of a potential buyer.
- Make sure you acquire and own coins that have been professionally graded. This should be done by a third party grading service like NGC or PCGS—the tops in the business.
- Try to focus on key dates. Do not try to collect the most common dates for a particular issue. These key dates, or “Stoppers” in a series tend to be harder to find. These are the coins other collectors will need to complete their sets.
- Most importantly, work with someone you can trust to give you fair prices and solid advice. It helps to work with the same dealer you started with, especially if you want to trade up. Additionally, if you sell a few of your coins for whatever reason. Remember, if you overpay for something, you are at a disadvantage that may take a while to recoup the original investment. Above all, coin collecting can be profitable if you collect the right coins!
Coin Collecting is FUN!
Remember, coin collecting isn’t just about profits—Coin Collecting is FUN! Historically significant areas of collecting allows you to own items that have been around for hundreds or thousands of years. You can literally hold history in your hands.
With this said, a collection put together over time with attractive and desirable coins can appreciate over time. Try to buy any coin at reasonable prices that will allow time to appreciate. Certain area of the coin market have proven to be a profitable venture for many of our clients. If you have questions or need a point in the right direction, give Austin Rare Coins a call. Let our decades of experience help you put together your own impressive collection.