Your Basic Toolkit for Coin Collecting

Coin collecting requires a reasonable amount of work and patience. This may be a hobby, but the reason why many coin collectors grow so attached their coin collections is because of the amount of work they have put in to preserve and keep them in the best shape possible.

There are different kinds of coin collectors. There are the beginners, the intermediates, and the professional ones. But for every coin collector, a coin collecting kit is an essential part of the hobby and the profession. It is important for every coin collector to have the necessary and right tools for cleaning, storing and checking their coins.

But, what exactly should a collector’s kit be composed of? Here are a few examples of things and tools you should include in your coin collecting kit:

• Books about Coin Collecting and Coins.

Knowledge about what you are in is always a good idea. There are many coin collectors out there who jump into the business without knowing what to do, and most, if not all, tend to lose a lot of money since their once good condition coins have deteriorated greatly in grade and condition, leading to a huge loss in coin value. Old coins are especially more delicate compared to modern day ones, and to preserve these old coin values, one must be knowledgeable enough on what to do and what not to do.

• Magnifying Glass

You should know as a coin collector that every detail in every coin makes a difference. Rare coins and common coins usually have very small detail differences, and if you miss these you are likely to lose a good amount of profit. Old coin values are distinguished by these little details, and you would not want to miss any of them. Magnifying glasses help you examine your coins in a closer level, and this way you’ll get to derive conclusions whether your coins are in good or in a bad shape.

• Coin Storage

There are many ways to store coins. For starters, capsules, 2×2 holders and mylar flips are essential. For those who already have their valued coins, there are coin flips, air-tites and coin slabs. These storage means differ in quality and requires investment, especially the coin slabs. Nevertheless, if you are a coin collector and know how precious your coins are, don’t stash them in a box like a pirate’s treasure chest. The coins will actually get many scratches which will make the coin values depreciate.

These are just a few examples of coin collecting tools essential for an easier and stress-free handling of your coins. There are various coin shops which offer these items along with their many coin series, like Colonial Acres Coins. If you are a serious coin collector and simply want the best for your coins, then a stop by trusted coin shops will surely be a good start for a successful and easier coin collecting experience.

Are you looking to add to your coin collection? Several US coins are worth a look because of their rareness, oldness and the value they bring. For a beginner or advanced collector, certain US coins are worth the trouble of acquiring.

Indian Head Pennies

Indian Heads may not be part of high-priced old coin values, however, their popularity makes them a great addition to your collection. This coin is approximately a hundred years old, yet is still available in decent grades for approximately less than $5. These coins were produced from 1859 to 1909.

When you want to add this coin to your collection, look for not corroded and unclean pieces because they add more value and are an inexpensive addition.

Lincoln Wheat Pennies

These coins are a popular addition to any collection by either beginners or advanced collectors. Struck from 1909 to 1958, the wheat penny is an inexpensive American coin that is worth a look.

The coin values of wheat pennies vary depending on scarcity. The 1914D Lincoln cent is a rare find that increases its value over time. This coin has approximately a million ever struck and commands more than $200 in the lowest grades.

Another example of this coin type is the 1943 bronze wheat penny. In 1943, the U.S. Mint struck pennies using steel to ration copper for military use. A few 1943 Lincoln pennies used bronze, and this mistake ended up being valuable. This coin is extra special because it is a one-year issue, making it a great addition to anyone looking to complete their Lincoln cent collection.

Buffalo Nickels

In 1913 to 1938, the U.S. Mint struck the Buffalo nickel; it commemorates two American symbols, the bison and American Indian. These coins are very popular and are somewhat romantic because of their social and historical significance for collectors of U.S. coins.

Mercury Dimes

These coins have Liberty wearing a cap on its profile. This coin struck from 1916 to 1945 is quite popular with coin collectors. The coin values of these are around $3 to $5, although you can have them for a small amount of money, these are significant items because they celebrate America’s ideal of freedom.

Walking Liberty Half Dollars

Considered as one of the most beautiful coins made, the Walking Liberty has been a famous coin that collectors have been adding to their collection for years. It depicts Liberty walking towards the rising sun and the reverse side has a bald eagle.

These are just some of the coins you can add to your collection. These inexpensive and very popular U.S. coins are worth looking into.

Most Common Mistakes When Cleaning Coins

There are many aspiring coin collectors out there who are excited about to start on numismatics or coin collecting. You may be one of them. You may have had a sudden interest of coins, probably because you found one fancy coin in particular and fell in love with it or received a gift of coins from a relative or a friend. Maybe you acquired your grandfather’s coin collection and you want to continue his legacy. Whatever your reasons are, you are at the gates of the coin collecting world and the fun is just about to begin. However, as a beginner there are a lot of things for you to learn.

Coin collecting isn’t as easy as it sounds. When you think of coin collecting and have a vague idea of what it’s about, you may be picturing a stash of pretty coins in a box or a jar. Well, that very idea is wrong. Coin collecting actually takes technical know-how and endless patience to keep your coins and the whole collection safe from depreciation.

First thing that comes to mind to beginner coin collectors is this: How do they clean their coins and keep them in top shiny shape? Before any of you start cleaning those valuable coins with some cleaning concoction, remember this first rule of thumb: NEVER CLEAN COINS.

When it comes to coins, dirty is always better in most cases because you may be damaging the coin more than preserving it. In numismatics, the authenticity of the coin is valued more than its luster and shine. So if you have old coins, don’t go running to the sink to clean and wash them. You will not only damage the coin, but also rip it off its original composition and collector value.

What are the common mistakes people make when cleaning their coins?

• Using any abrasives, acid-based or any solvents to clean coins. Coins are very delicate and without the proper know-how, you may be leaving chemicals on the surface of the coin that can later damage it.

• Holding the coins with your fingers all over the reverse or obverse sides of the coins. Your hands hold a lot of oil and other substances you pick up from everyday objects. Those substances can easily cause discoloration on the surface of coins, which is why when you hold a coin for any reason at all, like cleaning perhaps, hold them by the edges or the rim, and never by the sides. Coin values are highly affected with the appearance and condition of the coins, so you will want to keep them the way they are.

• Drying and rinsing coins. Cleaning coins is a very delicate procedure and isn’t really necessary. Most of the time, cleaning coins is a bad idea, since coins are so easily brushed off of the copper and for old coins, the patina. Old coin values go higher the more they are preserved and untouched, as long as they are in good condition.

The best way is not to clean them at all, since the elements already found in there contribute to the coin value. Bring it to a trusted coin shop like Colonial Acres Coins as they know how to properly deal with your coin without diminishing its value.

Gold or Silver: Which Coins Would You Collect

Many people invest in precious metals and collect gold or silver coins with the hopes that they can grow these investments and later on, secure their finances. If you are interested in collecting gold or silver, there are many things to consider before choosing.

What are the reasons people invest and collect gold and silver?

People invest in precious metals because of the value that they bring to the table. Federal bills and regular circulation coin values could deteriorate every time a country experiences economic crisis. Commodities like gold and silver are likely to have some sort of stable value range since they are influenced by how troy ounces are worth. In the present trend, gold and silver coin worth have risen and have proven to still have increasing coin values.

However, as a coin collector, there are two main drivers why collector invest in gold and silver:  the coin’s bullion value or collector’s value.

Bullion value is the value of the coin based on its metal component. If you are more inclined in getting your money’s worth because of its bullion value, choose gold.  Since gold has the bigger bullion value, it would be wiser to buy gold than to buy silver, since silver will take so much space because of larger quantity. However, note that increases in bullion value may not be that significant over time but if you are looking for a more stable way of putting in your investments, choosing this route is the way to go.

Collector’s value, on the other hand, considers many factors at play: its rarity, condition and grade. There are some silver coins that costs more to collect not because of their bullion value but because there were only a few of them that got into circulation. At the same time, there are also gold coins, especially in the form of old ones, that has greater collector’s value than its bullion value because of the way it was carefully kept since its production.

It is debatable whether one should invest in gold or silver coins and it really depends on the collector. Some people prefer to get both, so they have large investments ready in both gold and silver. That way they wont have to worry too much in case gold value increases in a much faster pace than silver, or vice versa. So, if you know exactly which coins to get, whether they be gold Kruggerands or American Eagle Silver Bullions you can look for trusted coin shops like Colonial Acres Coins to help you convert your investments.