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Coin Collecting for Beginners: How to Start Collecting Coins

Coin Collecting for Beginners: How to Start Collecting Coins

Coins offer much more than just monetary value. Each one has a unique composition and design. If you’re drawn to coins and their connection to history, collecting is an exciting way to explore that. But where do you start? How do you build a high-quality coin collection? Here’s what we recommend for beginners.

Figure Out Your Budget

Before you start collecting coins, it’s good to set expectations. Create a budget to guide your collecting by answering questions like

  • How much do you have to spend on coins? 
  • How often would you like to purchase new coins for your collection?
  • How much do the collectible coins you like most cost?
  • Are you comfortable with payment plans/layaway for higher-priced coins, or would you prefer to start with lower-cost coins you can collect right away? 

For beginners, coin collecting feels daunting if they’ve stumbled on high-ticket coins in their search. But don’t worry. There’s no need to break the bank! A little pre-planning means you can start collecting as soon as you have a budget in mind.

Ask Yourself, What Fascinates Me?

Rather than letting others tell you what to collect, or treating your collection like a portfolio, collect what fascinates you. Maybe it’s the unique design of Buffalo nickels or the pure shine of collectible bullion

There are no rules for beginners when it comes to collecting coins. Focus on creating a collection that’s focused on what you enjoy.

Develop a Collecting Strategy

Once you’ve purchased your first coin, you should consider developing a collecting strategy. Here are some things to consider:

  • Do you want to collect raw coins or certified coins? This decision affects how you’ll store and display your collection. 
    Raw Coins   Certified Coins
  Grading   Not certified or third-party graded   Graded in a plastic slab by a third-party service 
  Cost   Typically cheaper   Usually more expensive
  Storage   Stored in albums, flips, or rolls   Stored in specialty albums, boxes, or display cases

 

  • Get educated on the designs of the coins you're interested in: 
    • What mints produced them? 
    • Where is the mint mark? 
    • What are common signs of counterfeits in that series?
  • What will guide your collecting?
    • Will you collect by series, by design, or by denomination? 
    • What are the coins you want to collect first, and which ones are in your sights long-term?

When coin collecting, beginners and veterans alike need a coin dealer with industry expertise and credentials. Always do your homework before making purchases. 

Start With Something Small

No matter how long you collect coins, your first coin will always be special. When our coin experts are asked how to start collecting coins, we tell beginners that coin collecting should feel exciting. There’s no need to start with the biggest, most expensive coin. And you don’t have to know exactly what you want to collect from day one. 

Lincoln Cents are great beginner coins. Their price range includes many reasonably-priced, higher-grade options. From 1909 to today, they've had several design changes, especially in 2009, and multiple compositions., they’ve had some composition changes. Lincoln Cents include many possible starter coins that won’t put new collectors over budget on their first purchase.

Learn Proper Coin Care and Storage

Any instructions on coin collecting for beginners must include coin care. Improper handling or storage can damage the coins you’ve worked so hard to find and collect. When handling and storing collectible coins:

  1. Don’t clean collectible coins: Cleaning coins yourself is likely to damage and devalue the coin. 
  2. Always wear hand protection: The oils and dirt on your hands can corrode coin metals. Always wear cotton gloves to protect coin surfaces. 
  3. Store coins in holders: Use the original holders your coins were sold in. If you don’t have these, find appropriate holders to keep coins safe. 
  4. Store coins in the right conditions: Storage environments either degrade or preserve coins. Heat, humidity, and moisture can cause discoloration. Keep your coins in a cool, dry place.
  5. Keep all necessary documentation safe: If your coins include certificates of authenticity, keep these in a safe. You will need them if you plan on selling your coins at a later date. 

Start Collecting with L&C Coins

For beginners, coin collecting starts with lots of learning. When questions arise, L&C Coins is happy to help! We can help guide you on how to start collecting coins, no matter what designs intrigue you. Message us online or give us a call. We look forward to helping you start your collection off strong!



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