Finding rare coins is a fun and exciting, challenging hobby. I recommend that you chose a country and era of the coins you wish to find. Obviously the older the country and time period you pick the more challenging it will be to find the coins you are looking for. There are no rules out there that you must follow, but there are so many choices in finding rare coins that you will want to follow just one direction.
- Doing your research is going to be key in locating your coins. The library, the internet, coin shops and even pawn shops are great places to research. Not only do you need to research the coins you want to collect, but you also need to learn about the different types and conditions that coins come in. These range from the low side called About Good all the way to the most sought after, called Proof. Other countries have additional names for the quality or condition of the coin.
- Once you have chosen what you want to collect, then the real fun starts. You will want to try to buy all of your coins in the same condition. What I mean is do you want your collection to be all fine, very fine, etc… coins? This will help you narrow down your search when looking for a coin. If you choose a classification of extremely fine, then you will always want your coins to be at this level or higher. Try not to purchase coins of a lesser grade.
- The next step in your process is setting a budget. Determine how much you can spend each time you seek out your next coin. Once you have figured out your budget, then you can start your search for your next coin to add to your collection. It is very easy to get side tracked, so stay focused on finding your rare coins.
Here are a few tips. Typically, most collectors only invest about 10% of their portfolio in precious or rare coins. Generally speaking you should not clean your coins. If you really need to clean a coin, make sure you are absolutely sure of what you are doing to ensure you do not damage the coin. Coin holders are okay, just make sure they are not made with any PVC. PVC can damage your coins over time. PVC can cause them to turn green. Good luck with your quest!