While many people collect coins as a hobby, there is also a section of the market that views rare coins as an investment opportunity. Kenneth G understands this and has a few tips to offer people who are looking to get into the industry and need to understand how to spot a good investment.
The grade of your coin is going to play a large part in its eventual value, so you should take the time to understand the system and how various flaws and issues can cause the price of a rare coin to drop. Even a basic understanding will allow you to be more informed when making a purchase, which you can later expand upon by taking the coin to a professional.
Old Often Means Rare
A good rule of thumb is that older coins are usually rare, so if you find a coin from before the 20th century your interest should pique. However, it is still important to do the research to find out a coin’s value, otherwise you may find out that you get overcharged.
Seek New Coins
The pro-active collector will keep an eye on the industry so that they can spot production runs that could result in rare coins. Kenneth G recommends looking out for anything that is intended as a limited edition and trying to get your hands on one of those coins. Preserve it well and you may have a newer coin that is worth quite a bit of money in the future. Even if you’re unable to take advantage of this yourself, it is a handy investment that can be passed down to future generations.