It’s easy to quickly fall into and out of a hobby, especially if you indulged in it only because it was trending at one point. But, if you’re interested in numismatics and serious about starting a collection of rare coins, it’s safe to proceed. Before that, we suggest inculcating the habit of educating yourself and practicing patience. Collecting rare coins can be time-consuming, and rash decisions can cost you dearly.

Collect what appeases you
The reason coin collection is “your” hobby is because it appeased you in the first place. So don’t get distracted by what other people have in their rare coins list.

Sure, you can glance at their collection, but don’t fall prey to the fear of missing out. Work toward building an assortment you’re proud of, not something collected because people were talking about it. If the story behind the coin fascinates you, add it to the collection, rare or not. The same goes for the coin’s condition, art, design, and more. You would probably be more inclined to learn about the piece and its origin if it piques your interest.

Start with baby steps
Assembling a set of Lincoln pennies is where many coin collectors like to start. We aren’t suggesting you take the same route.

But while choosing a path to collecting the best rare coins, it’s important to think practically. Swim in the kiddie pool before diving in at the deep end. Losing hundreds of thousands of dollars right at the start because of a hasty purchase might make you fall out of the hobby. So, begin with smaller deals that fall well within a budget. Learn about the art of coin collection before selecting which type of coins you want to major in. Is it themes like fishes, flowers, queens, or just rare quarter coins? Also, learn how to identify, confirm, and price coins. This will help correctly identify rare pieces and appreciate their value.

Consider careful handling
Since you’re dedicating energy, time, and money to the hobby, you should take proper care of your collection. Despite being made up of metal, coin surfaces are prone to wear and tear. Not to forget, metals tend to react with chemicals present in the atmosphere. So, storing and handling rare coins are essential to maintain their quality and value. If possible, read about coin cleaning practices that should be avoided. Mishandling rare pieces can depreciate their value, and the collection could be considered damaged. All because you didn’t clean them the right way.

Invest in the coin bible
“A Guide Book of United States Coins,” commonly known as the “Red Book,” is the coin bible for most people. It packs loads of knowledge about the history, value, pricing, specifications, photographs, and other information about different coins. Enthusiasts use this book to build their collection and multiply its value. It also serves as a useful rare coin price guide. Reading up on the internet may be cheap and easy, but it can just as easily be feeding you misinformation. So, investing in this book is an excellent idea for the long term.

Get an ANA membership
The importance of reading, researching, and analyzing rare coins cannot be stressed enough. Besides collecting books and other reading materials to learn about your existing and future assembly, consider joining The American Numismatic Association. It’s one of the most significant educational organizations encouraging people to understand and pursue the collection of coins, tokens, currency, and more. An ANA membership is affordable, and grants access to the association’s massive library. You can even subscribe to periodicals like “Numismatic News” and “Coin World.”

Join a coin collection group
It might sometimes get boring or confusing if you’re on this journey alone. To avoid falling out of love with rare coins, we suggest joining some clubs or groups that can help keep your interest alive. Start with a regular coin collection group before choosing a niche and attending meetings for that particular group, for example, a rare quarter coins club. The internet would provide a list of clubs and groups nearby.

Go coin shopping
Online purchases are quick and convenient, but they lack the satisfaction of the in-store experience. It allows rare coin collectors to inspect, reflect upon, and hold the coin. You even get the opportunity to compare potential purchases in person. Not to mention, the shop owner would be able to provide valuable data that could help with selection. Coins shows and events are another option to consider. You might even find the chance to attend coin collection workshops that are a treasure if you’re eager to learn. But no matter what, don’t impulse purchase because the dealer offers a great price. Think and research before making the deal, or you could regret it. And always buy coins from trusted sources.