How To Purchase Rare Coins

Rare coins are an excellent, safe investment option, but getting started can be imposing for many who are new to the trade. When you read about the auctions where famous coins sell for hundreds of thousands, if not millions of dollars, it may seem like investing in coins is an option only available to the incredibly, incredibly wealthy, who can spend a few million here and a few million there with no worries. The fact is, however, that coin investments are actually quite accessible to every investor, from the wealthy to the middle class and even to those just making ends meet. With that in mind, here are some tips for beginning coin collectors first learning how to purchase rare coins...

Know your coins - This point cannot be stressed enough. Before buying any rare coins, you may want to purchase a guide to coins or visit some coin websites. The main thing is that a rare coin collector is not just an investor, but also a history buff. Coin investing requires sincere passion, but if you’re a newbie, don’t worry; it’s almost impossible not to develop that passion once you get started learning how to purchase rare coins.

Check your spare change - It’s not likely you’re going to find some million dollar piece in your pocket, but there are literally thousands upon thousands of relatively rare coins floating around in the US economy, fetching in the area of ten to fifty dollars and up. Be on the lookout for pre-1963 dimes and quarters, as they contain real silver, as well as any odd error coins. There are plenty of 2001 state quarters out there with the date stamped twice, and these can go for between ten to twenty dollars or so. It may not seem like much, but it adds up, and these coins will likely increase in value over time, and besides, it makes for excellent practice for the next time you...

Visit a coin convention - Even if you don’t have the money to bid on the major auctions, the real draw for the beginning coin collector is the miscellaneous boxes at the various coin booths. Digging through these boxes for scarcities can be rewarding in more ways than one, sifting through a bunch of common pieces in hopes of finding some one of a kind piece that the dealer failed to identify when stocking his booth.

KNOW YOUR COINS! - We said this already, but it really is the only way to become a successful coin investor. If you don’t learn the coins, then you won’t know how to spot the rare pieces. Besides, if you don’t really have an interest in coins, then why bother trying to learn how to purchase rare coins? If coins aren’t your thing, gold offers the same security without having to learn anything about American history.

Learning how to purchase rare coins can be very exciting for a beginner. Coins are one of the safest and easiest ways to protect your assets, and one of the most interesting.

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Arthur McGuire

Aug 24, 2009

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