Buying collectible coins is an excellent way to diversify your investment portfolio while also enjoying a rewarding hobby. But like any investment, buying collectible coins requires you to spend a considerable amount of time researching. To help get you started, here are some important factors to consider when starting a serious coin collection.
Before you start purchasing rare and valuable coins, clearly define the intention of your collection. For example, you may have a different buying strategy if you intend to pass your collection on to your children and grandchildren than you would if you are looking to turn a profit on your investment in the short or long term.
You will also need to set a budget to start your collection. If your budget is limited, you might want to consider diversifying your collection with as many coins as you can afford instead of buying the most expensive coin. Your coin dealer can recommend the best investments given your immediate and long-term spending limits.
Before you ever buy your first coin, you’ll need to think about how you’ll store your new collection. Envelopes are an economical method for storing coins, as are PVC-free plastic bags. For extremely rare or valuable coins, ask your coin dealer to place the coins in slabs, which are hard plastic packages for individual coins. A water- and fire-proof safe is also recommended for serious coin collections.
For the best selection of U.S. and international coins in Gaithersburg, visit Coins of the Realm. Our coin specialists can help you get off to a good start with your coin collection. And when you’re ready to sell, our coin dealers will give you a great price for your collectible coins. If you have any questions, please call us today at (301) 340-1640.