Coin Collecting Tips

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The best way to enjoy a hobby is to become good at it. The point of a hobby is to relax, and worrying about being good every minute isn’t exactly the best way to relax. But making too many mistakes can take the fun out of any activity. So while a hobby shouldn’t involve 99% self-criticism, it shouldn’t involve 99% complacency either.

Here are some things every coin collector should remember so that coin collecting remains enjoyable for him or her.

1. Educate yourself.  Study coins and the dynamics of the coin market. Read books and periodicals. Learn, so you know the value of the coins you’re buying. Don’t get swindled.

2. Specialize.  Have boundaries that are definable, and goals that are achievable. If you specialize in Charlotte gold coinage, you can probably become an expert within a year. If you however aim for all mint U.S. coins, it could take you five years. The smaller the race; the more likely you’ll reach the finish line.

3. Have patience.  Don’t seek to build your coin collection too quickly. You’ll end up purchasing over-priced coins and regret it later. The more you wait, the clearer you’ll think.

4. Be passionate about coin collecting.  If you’re just collecting it for the money, it’ll be hard to stay motivated. It’ll be hard to know what’s worth being hype over. As a golden rule: you should care enough that you aren’t quickly swayed by the “expertise” of others; but rather the research of your own.

Most important of all: remember that it’s a hobby. Make sure to still have fun.

 

via Andrew Brunhart’s Coin Collecting http://andrewbrunhart.org/2013/10/24/coin-collecting-tips/