A Coin Dealer Can Help You Get Started in this Exciting New Hobby
If you are interested in coin collecting it’s time to consult a coin dealer. This hobby is also called numismatic collecting. Coins on the market may be of interest to you because of economic, historic or artistic factors. There are some people who collect coins for social and personal reasons. However, coin collecting is increasing in popularity because of its investment opportunities.
In fact, some financial advisors are starting to suggest that anyone interested in saving their money start keeping at least 10% of their investment portfolio in precious or rare coins. A coin dealer can sell you coins of silver, gold or other precious metals. These are pieces that usually retain their value. Meanwhile other investment opportunities (such as the stock market and real estate) are becoming very unpredictable.
Coin dealer trading is already growing in North America as well as Europe and Australia. The strategy here is to buy new coins while they are cheap and choose the right buys so that the pieces appreciate over time. You do have to learn the market when approaching this investment strategy. You have to learn what types of coins generate profit, over the short-term or long-term, and which coins are only of personal interest and little economic value.
A coin dealer expects a coin to be in good shape, not greatly damaged or dented. Coins should also be reasonably clean. It is commonly suggested that coin collectors not hold coins by the face or tail but by the edges. This way, the quality of the image is not compromised.
Some of the most popular coins in the world are world coins (which are multinational coins), ancient coins from way back when and coins from a specific time period. Rare coins are the most valuable, and to be considered “rare” requires a release of 75 copies or less.
Though the coin market is relatively new (it peaked in the 19th and 20th centuries) coins themselves date back to the Roman Empire and even before, thanks to Ionian culture, which introduced the coin as currency.
Today, the role of the coin dealer has changed slightly. Whereas in years past a collector had to meet a dealer in person, today you have easy access to online coin dealers. An online dealer can preview new coins instantly and give price quotes according to each category or type of coin. Internet technology also makes it easier for coin collectors to keep abreast of the latest industry news.