Coin collecting can be a fun and rewarding hobby, where you can meet likeminded people and even make money. However, as with any hobby or interest, it takes a while to gain knowledge and experience, so when you’re starting out it’s all too easy to fall into common pitfalls. Here are some of the misconceptions new collectors have about collecting coins.
Collecting rare coins is for rich people:
Numismatics is sometimes referred to as “The Hobby of Kings”. Today, however, coin collection is very affordable. You can have fun for a few bucks per week. There are very interesting coins for every budget. Coin collecting is a great way to save money, and the long-term accumulation of a rare coin collection is usually an excellent investment.
Old coins are the most valuable:
Age has almost nothing to do with the value of a coin. Rarity and condition are what makes a coin valuable. The combination of both is when the big bucks come into play.
Cleaning coins make them more valuable:
Cleaning your rare coins will destroy their value in most cases. Very skilled experts can conserve coins, but the general public should never, ever clean a coin. Rare coin collectors are very conflicted about this subject. Most will tell you they want original and uncleaned coins.
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Image Courtesy: verdict.co.uk
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