Increasing the Value of Your Coin Collection

People who collect things for a hobby are special people. Whether they collect stamps, coins, trains, or sports cards, they are very protective of their collection. They often take special measures to protect and increase the value of their collection. They often spend many hours and much money on their hobby. We will use coin collectors in this example.

To improve and maintain the value of their collection, a collector needs to follow some specific guidelines. These guidelines should be followed when they buy additional coins, when they handle their coins, and when they store their coins.

The value of the coin is mostly determined by its grade. The grading of a coin is based on its condition. Coins will be downgraded by the smallest scratches, fingerprints, and discolorations.

You can increase the value of your collection by buying good coins. When buying coins, look for these four characteristics:

Luster
Strike
Details
Absence of Hairlines

Luster of course is the shine of a coin. If you buy newer coins, make sure the luster in first rate. Older coins obviously do not have as much luster as newer ones. The strike of a coin is the impression on it. Make sure the design is perfectly centered. The details of a coin should be sharp with as little wear on the high details as possible. Check closely for hairlines as they decrease its value. If you buy a coin that is already professionally graded, it will save you the trouble of you having to grade it.

If the coins you have need handling, you should try to hold them only by the edges. It would also be a good idea to wear gloves when handling the coins. If you go to the expense of having the coins graded and placed in an acrylic holder, you will not need to worry about handling them. Having a coin professionally graded and concealed in an acrylic holder will cost you anywhere from $12-$20 each and take about two or three weeks to complete. The good news is you only need to do it once.

If your coins are not professionally graded and slabbed (put into acrylic holders), you may want to safely clean your coins. I know, professionals say don't clean your coins. I'll tell you a way to safely clean them. Avoid all kinds of metal polishes. They are much too harsh and will leave tiny scratches on the coin's surface. Try soaking the coins in olive oil or soapy water for a few days. Rinse them well with clean water. Then blow dry or pat clean the coins with a soft cloth. Do not use tissues or paper towels. Do not rub the coin under any circumstances.

When storing coins, be aware that most holders provide good protection from fingerprints and dust. They typically do not do a good job of protection from moisture. It is therefore necessary for you to store them in a dry place. Forget the basement; it is too damp in most places of the country.

Enjoy your coins and rejoice in the fact that they will increase in value as time passes.