If you have $30 and the option to purchase coins or your first book on coin collecting, get the book. The more you learn about coin collecting, the better you will be at building a collection that will allow you to get a return on your investment. With this knowledge at hand, you will be ready to create a coin collection based on a theme that could ultimately prove profitable.
Choose a Theme
Decide what you would like to base your coin collection on. If you have a coin collection that is based on a specific characteristic, you will be more able to sell your coin collection in the future. For instance, you can base your coin collection on a specific year, a specific country or on a specific subject.
Subjects can vary widely. For instance, those who are bird enthusiasts have collected coins throughout the world that feature specific birds. Those interested in history have collected coins focused on specific historical figures that they have an interest in. If you are collecting coins based on a specific time period, focus on periods that people are generally the most interested in, such as the Victorian era or World War 2.
Research the Availability of the Coins
Once you have determined one possible theme for your coin collection, you should learn about the availability of these types of coins. It can be frustrating for some collectors to begin a collection only to discover that many of the coins necessary to complete the collection no longer exist. But for other collectors, the overwhelming challenge of tracking down an obscure coin is a lot of what makes the collection-building process fun.
Decide How to Sell Your Coins
When you feel that it is time to cash in on your investment, it will be time to take your coin collection to a local coin shop to sell them. Depending on the demand of the coins you collected, you might be able to sell your coins for much more than what you paid for them. However, you will not receive as much of a return on your investment from a coin shop as you would if you sold them to a private collector.
If you are selling your coins to a private collector, you will want to be patient. It can take time to find and schedule a meeting with someone who collects coins from a specific period. But the more complete your set, the more of an edge you will have and the more likely that you will get a high return on your investment.
Check with a coin shop like Don's Estate Jewelry & Coin for more information about building your first coin collection.