Essentials For The Rare Coin Collector

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Essentials For The Rare Coin Collector

Once you make a start as a rare coin collector you soon find there are a few things you need that will help to make the most of your collection. How do you handle your coins? What's the best way to store them? How do you keep records of your inventory? Where can you find information on buying and selling more coins?

These are all questions that need answers, so keep reading.

There's a lot of different coins out there.!

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1. A Good Coin Guide

One of the most important things for any coin collector to have is a good coin collecting guide. A guide gives tips on how to get started and how to maintain your collection. They also provide information on different coins and on the ways coins are graded and valued. It's a great idea to read a few guides before you even start collecting as this will help you to decide what type of collection you would like to put together.

These days it's easy to find a lot of books online. One guide I would seriously recommend is The World Of Coin Collecting. Some of the information in this book includes :-

  • What exactly the term numismatics refers to - you may be very surprised when you read this!

  • A brief history of coins - this will provide you with the foundation you need to ensure you get started off on the right foot collecting coins. I've even included the anatomy of a coin and how coins are made (two very interesting subjects)!

  • How to get started collecting coins - you'll be amazed at how easy and inexpensive it can be to get started!

  • How to decide whether you will be a "collector" or an "investor" - plus, the many benefits of collecting coins (I'm sure you haven't thought of ALL of these)!

  • Where to find collectible coins - this information will put you on the fast track to coin collecting success!

  • How to avoid the risks of investing in coins - failure to read this could result in a great deal of disappointment and frustration later on!

  • How to determine the value of coins - plus, what coins make the best investments

  • And much, much more!

  • Have a look now at The World Of Coin Collecting and see what you think.

    2.Keep a Coin Inventory Record

    In the past a coin inventory would have been kept in a ledger of some kind but now it's much easier to use software to do an even better job. Coin collecting software not only keeps records of your collection but can also include a database of coins in circulation. It can be a great resource for information on your own coins or when looking for new coins.

    All items in your collection must be accounted for properly. Information like year, face value, grade, cost, trend, and remarks must always be available for reference. Inventory Records also help in organizing coin collections. It eliminates the redundancy of coins in the collection by showing the collectors at a glance the items in his collection.

    Coin Collector's Helper

    Amazon Price: (as of 05/31/2012)Buy Now

    The Coin Collector's Helper is a comprehensive program for managing a coin collection. It comes preloaded with a database of currently circulating US coinage with market values including Lincoln Cents, Jefferson Nickels, Roosevelt Dimes, Washington & State Quarters, Kennedy Half Dollars, Susan B Anthony, Eisenhower, and Sacagawea Dollars, Government Sets, Commemoratives, and American Eagles. The user may also manually add coins which are not in the preloaded database (earlier issues, world coins, etc.)

    Need Info on Australian Rare Coins? Click Here for
    The Laymans Guide To Australian Coins

    3. Coin Storage

    It's important to store your coins properly to avoid damage. Coins may react with some chemicals such as sulfur found in some forms of paper or PVC found in some plastics. It's also wise to keep some silica gel with your coins to help control humidity. If your coins are valuable, you need to protect them. A good quality coin album is a must have item.
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    4. Magnifying Glass

    Magnifying glasses are a great help when it comes to coin grading. Most coin collectors recommend using a 7x magnification, but generally, any magnification between 4x to10x will do the job.

    The magnifying glass is a great aid in examining the quality and authenticity of the coins. Details like hairlines or scratches, which are not visible to the naked eye, are "big deals" when it comes to coin collecting as they affect the market value of coins.

    The Classic Magnifying Glass 3" with Powerful 5X Magnification - Metal Frame

    Amazon Price: $5.50 (as of 05/31/2012)Buy Now

    Perfect for coin collecting, detail inspecting and more.Classic-style magnifier popular for it's effective simplicity.Essential tool for reading & vision aid, examining documents & plans, photographs and collectibles.
    3" precision-ground glass lens magnifies objects to 5X with minimal distortion
    4-1/4" handle is comfortable to hold yet still stores easily in desk drawer
    Essential tool for reading 'fine print', examining documents & plans, photographs and collectibles

    Coin Collecting Help From Ebay

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    5. A Well Lit Work Area

    A good light source must be placed half a meter away from the workspace. You need to be able to see your coins clearly to inspect for scratches or flaws and for grading. Recommended light for this purpose could be a halogen lamp, or simply a 50 -75 watt desk lamp.

    Normande Brushed Steel Halogen Desk Lamp (Not CA Compliant)

    Amazon Price: $39.99 (as of 05/31/2012)Buy Now

    Halogen desk lamp comes complete with a 50W halogen bulb. Contemporary counterbalance design adjusts to numerous heights up to 24.5"
    Height adjusts up to 24-1/2-inches
    Contemporary counterbalance design
    Sleek brushed steel finish
    Comes with limited 2 years warranty

    6. Handling Equipment

    Finger marks can lead to corrosion and loss of grade for your coins. This expensive mistake can easily be avoided by wearing surgical gloves when handling your coins. If possible place your coins on velvet pads when handling to reduce the chance of any scratching.

    Surgical Latex Sterile Gloves, 50 Pair Box, Size 7.5

    Amazon Price: $26.00 (as of 05/31/2012)Buy Now

    One pair (one right, one left) per paper wallet, each wallet packed in a peel-open pouch
    Maximum strength with no loss of tactile sensitivity
    Textured surface in palm and finger tips
    Pre-powdered
    50 Pair/Box

    More Coin Collecting Tips

    Tips for Buyers of Ancient Coins
    By Wayne Sayles on May 7, 2012 7:06 AM Some The Ancient Coin Collectors Guild (ACCG) members have asked what they can do to assure that the purchases they make are legal. One might theoretically ask the same question about many objects or substances ...
    Who Collects for Fun and Profit?
    Rising gold and silver prices in the past 35 years have changed the hobby more toward focusing on the financial aspect of rare coins and paper money rather than on the passion and fun of simply collecting. The popularity of coin collecting among ...
    Asia Buys Gold as US Stalls
    In almost every instance, the dealers were only willing to purchase such coins at a discount to their gold value. For a dedicated coin collector who is worried about global financial turmoil, I have a suggestion. With so many world coins available at ...
    Fighting City Hall – Didn't Want To Do It!
    In a 3/18/11 LB Enterprise article the City said ??monitoring newspaper listings and collecting tips from other real estate agents are also ways the city keeps track of who hasn't paid their license fee.? Between 2010 & 2011 some 10 companies ...

    Some Australian Rare Coin Collecting Articles

    The Australian Halfpenny
    Australian bronze (copper) coins first appeared in 1911. These earliest coins were minted in London, Birmingham and Calcutta. production of halfpenny coins began in 1919 in the Sydney and soon after, the Melbourne mints. From 1942 the Perth mint became the major producer of halfpennies although in some years coins were also produced in Melbourne, Bombay or London.
    The Australian Penny
    The first bronze ("copper") penny coins to appear in Australia were minted in 1911. Up until 1918 these coins were minted in London, Birmingham and Calcutta. From 1919 the coins were produced in Australian mints in Sydney, Melbourne and Perth. Sydney production ceased in 1926.
    The Australian Threepence
    The threepence is the smallest of all the commonwealth coins. Until 1945 it was minted from sterling silver. Like most silver coins, from 1946 on quad alloy was used. The threepence was minted between the years 1910 and 1964. The first coins were minted in London but from 1916 on most were produced at the Melbourne mint.
    The Australian Shilling
    Australian shilling coins were minted between the years of 1910 and 1963. The currency system used in this period was based on the British pound, using pounds shillings and pence.
    The Australian Sovereign
    Sovereign coins have been minted since the time of Henry II in 1429. In Australia these coins were struck between the years of 1855 and 1931. Unlike other coins, no value is imprinted on the sovereign. Although the coins represent one pound in value, they term "sovereign" is more commonly used

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    Tell Me About Your Collection

    • Wordwinder Jan 14, 2010 @ 9:34 pm | delete
      The lens has everything in it to get a new enthusiast started on this fascinating hobby. Perhaps, the inclusion of a couple of anecdotes (with pictures) on the most prized specimens in your collection would add to the appeal. 5*
    • mysticmama Jan 10, 2010 @ 5:21 pm | delete
      I loved collecting coins as a kid, fun lens!
    • writernewbie Jan 10, 2010 @ 3:28 pm | delete
      Nice lens! Very informative regarding the topic. I think that you have covered all the basics needed for beginning coin collectors. 5*s from me!
    • GroovyFinds Jan 10, 2010 @ 3:05 pm | delete
      Great reference!
    • adoption_gifts Jan 10, 2010 @ 10:13 am | delete
      great lens. I always wanted to have some sort of coin collection, but I was just never able to stick with it.
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    StevenCousley

    My online experience begins way back in the early 1990's. I now run several blog sites in my spare time as well as here on here on squidoo and work as... more »

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