Whether you're getting ready to purchase your 50th coin or just getting started in numismatics, there are several tricks and tips that you can implement to create an attractive and valuable collection. As your coin dealer can attest, the strategies for collecting coins vary based on factors such as the category of coin or the type of metal from which it is made. Here are some helpful tips for collecting gold coins:
Invest in Coins Produced by Official Mints
For many novice collectors, it can be difficult to decide whether to purchase gold coins from private companies such as the Bradford Exchange or a national mint like the U.S. Mint. Although the former offers gently used coins at relatively low prices, their overall worth is less than those produced by an official mint. Furthermore, gold coins from an official mint will appreciate more over time, leaving you with a more valuable collection.
Determine Your End Goals Early
Before visiting your local coin dealer, decide what your goals are as a collector. For example, if your goals are to create an attractive collection and to have fun, choose gold coins that catch your eye. If, however, you want a good return on your investment, consider opting out of coin collecting and buying bullion instead.
Find a Safe Place to Store Your Coins
After you've made your purchases, store your new items in a safe place. Coins should be kept in an inconspicuous place, such as a hidden safety deposit box. Before placing coins into a safe, put them inside a paper envelope or an airtight plastic capsule.
The gold coin experts at Coins of the Realm in Gaithersburg are available to help you learn more about collecting. We have roughly four decades of experience in assisting clients interested in buying gold bullion, gold jewelry, and other precious metals. To learn more about buying and selling products with us, call us today at (301) 637-6220.