Collecting coins is an amazing hobby, and with the right moves and investment, you can even leave a legacy for future generations. Some of these collections may cost millions of dollars. The only way to have a great collection that you can pass down to your children and grandchildren is to invest in the right pieces. It is said that the best investment is going to be in coins that are of high value and that are not mass-produced.
In this article, we are going to list some of the ways that you can tell if a coin is rare and valuable, and we will try and teach you how to avoid fake pieces or damaged goods that don’t hold any value at all.
1. How much is the price?
You need to see what the price of the goods is, and you need to remember that the more expensive the coin is, chances are, the more valuable it is. Even though this is not always the case, and sometimes you will stumble upon someone who is going to try and scam you for tens of thousands of dollars, you should know that more often than not, the price is connected to the rarity of the piece.
If there are only a few pieces left in the world, and if there are only one or two left for collectors to acquire, these units are going to cost a lot. Some pieces may cost thousands of dollars, while others may even get to six or seven digits. Remember that the fewer pieces of the same coin there are, the more valuable it is going to be.
2. Where are you going to purchase it from?
Finding the right seller to get your coins from is going to make the biggest difference. Know that there are thousands of stores and far more collectors all over the world that will offer to sell you some of their pieces. Most of the sellers are going to be truthful and they will know the value of their goods. There are going to be some collectors who are not aware of what they have, and they will undersell it, and there are also those who will try to trick you.
Because of these things, you need to find a reliable person to collaborate with and purchase your coins only from a secure place. When you make your purchase from a trusted location, you will be able to get all the documents and warrantees without worrying.
For more information on how professional services can help you pick the right buyer and place the right order, visit https://www.rarecoin.de/muenzsuche-coin-hunting/.
3. Check the books
If you want to be able to check the validity of the piece and you don’t want to go through too much trouble, then the easiest thing you can do is go check the books. There are guidebooks for these coins for pretty much every country, and you can do global research as well.
You can find these books in both hardcovers and you can also download them and have them on your phone or computer. It is said that every collector who is interested in pursuing their passion to the maximum owns these guide books.
4. Check the signs of a fake one
There are many signs that are going to tell you if the coin is fake, and for you to notice most of them, you will need to hold the piece in your hands. In case you are thinking about getting your goods from a private collector, get them to meet you so that you can inspect the goods. If you are ordering online, check to see if they have a land-based store and if they offer a warranty in case you are not happy with your purchase.
When handling the goods, start by looking at the seam and the hole markings. See if there are any mistakes and inconsistencies. Check to see if it is magnetic, and also conduct a heat test. Note that you should look for any mistakes, breaks, and damages, as well as check all the things that are written on the coin itself.
5. Look at the documents
The goods that are legit and that really are worth something will always come with proof. There are a lot of certificates and documents that come with them, and the most important thing you need to look at is the certificate number.
Make sure you check it out and see if it is a legitimate number. On the same note, don’t ever purchase goods without checking out the full documentation, and if the seller does not have it, chances are, you are close to getting scammed. Don’t buy goods from places that don’t provide proof, and be careful about collectors as well.
6. Have a professional look at it
Lastly, if you don’t think you can determine the value of your own, or if you think that you cannot notice the fake units with ease, then you can just get a professional to look at the coin before purchasing it.
Know that depending on the knowledge and the reputation of the expert, you may need to invest a bit more in this, but if you are purchasing a rare and expensive unit, it is far better to put in some additional money to ensure the validity.
These are some of the things that are going to tell you if you are looking at a rare and valuable coin, or if you are close to getting scammed. Remember that you need to read everything on the label, especially the fine print. Don’t expect a coin that costs a few bucks to be worth thousands, and know that just because something costs a lot, it does not mean that it is valuable. Do as much research as possible before making your investment, and know that with time, it is going to be easier for you to recognize the value of your collection.