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"If youx27re getting ready to jump into the fine hobby of coin collecting, youx27re joining a $10 billionx26nbsp;per year industry. Needless to say, how much you spend is all up to you, but therex27s no doubt that there are guidelines to follow and pitfalls to avoid so you donx27t lose money or have unrealistic expectations. To make sure this is a hobby you enjoy, and hopefully make money from, here are four rules to follow if you decide to pursue coin collecting.\nDo the Research First\nThis is a guiding principal for most numismatics: you must know what youx27re investing in before you make the purchase. You can research and educate yourself if several ways, but getting a book or two is a great place to start.\nThe Whitman Guide to Coin Collecting is a popular book with newbies as it explores how to get started with coin collecting, how to determine a coinx27s value, and how to care for your coins. It also covers topics that will teach you principles on spotting a counterfeit or a coin thatx27s been altered--something thatx27s usually done to make it look like itx27s in better condition than it really is.\nDonx27t Automatically Jump on the Best Deal\nYoux27ve heard the adage x22if it sounds too good to be true, it probably is.x22 When it comes to coin collecting, this adage can save you a lot of heartache.\nAt some point, youx27ll spend time at flea markets as well as browsing online stores and auction sites looking for the best deal. There are situations when good deals can be spotted and taken advantage of. For instance, you may come across a widow selling her husbandx27s collection, knowing that itx27s valuable but unable to invest any time appraising the coins and selling to the highest bidder. But there are other people who could be trying to sell a counterfeit at a great price.\nHopefully, your handy book has taught you how to spot counterfeits in person. But when buying online, it can be a little trickier. One tip is to avoid sellers who keep their profiles private, donx27t offer a certificate of authenticity when warranted, display very few pictures, and are hesitant to answer your questions. Most experts recommend simply using your instincts to avoid buying a counterfeit.You may also want to opt for a coin appraisal yourself.x26nbsp;\nDonx27t Expect to Get Rich Overnight\nCoin collecting may be perceived as an investment tool, but itx27s mostly known as a hobby. So if youx27re looking for something that will pay off in just a few years or will make enough to pay for your kidx27s college, you may be disappointed. Now, if youx27re patient, and you want a hobby that can help pay for your great-grandkidx27s college education 100 years down the road, thatx27s another story.\nCoins do tend to hold their value better than other collectibles. But a lot of it depends on what kind of coins they are, how well theyx27re cared for, how long youx27re willing to hold onto them, and whatx27s happening with the market. If youx27re truly looking to build wealth, youx27ll need to consider investing in old, rare coins as well as precious metals. Oh, and make sure you stock up on patience.\nDonx27t Rush to Complete Your Set\nIf youx27re working on collecting a set of coins such as wheat pennies, silver eagles, or buffalo nickels, youx27ll inevitably have gaps in your set. Donx27t buy a problem coin just to fill that gap. Over time, youx27ll probably regret your decision, wishing that you had waited for a better quality coin to appear.\nExamples of problem coinsx26nbsp;include those that have been cleaned, wiped, visibly polished, or artificially toned. Other coins may have green or orange spots, milk spots, a mottled surface, or damage along the rims. The main issue with jumping on these problem coins just to complete your set is that they are much more difficult to sell down the road. And if you are able to sell them, youx27ll likely take a loss. Just be patient and wait for the best coin to come along that you can comfortably afford."
<http://jewelzbymaricar.com/2017/04/24/4-simple-rules-to-follow-when-coin-collecting/>