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How to Take Care of Collectible Gold Coins by Cecelia Wong

An understanding of the long history of coin collecting, once known as "the hobby of kings," will make this pastime even more enjoyable. The history of gold coins dates as far back as 2,700 years ago. The first gold coins in the world were issued in Lydia around 640 B.C. certain internet websites will provide you with a lot of information about the history of gold coins.

Canada's coin features a powerful national symbol with the golden Maple Leaf, and South Africa mints the Krugerrand.

One of the most common mistakes that turn normal coins into limited rare coins is a mistake in the printing.

The result is a coin with an unnatural appearance and a lower value. Any cleaning will wear the coin surface, and though it may look brighter for a time, the coin will eventually lose its value to a collector. Most collectors go for issues of a particular country or time period, some go with themes, like airplanes or animals. Silver dollars, $100 gold coins, bi-metallic coins, coins featuring flowers...whatever you choose is fine, there are no rules.

One thing is for certain, there isn't a coin collector out there who will stop collecting just because the prices have risen a little and probably the same amount will consider selling their prize collection to the highest bidder.

Commemorative coins are a popular form of collection, as are rare minted coins like those which had an error in their stamping. If a certain set of coins doesn't interest you, it won't be any fun at all to become a collector.

If you have a long-term relationship, however, the margin does not need to be as high for the coin dealer to make a good profit.

How to Take Care of Collectible Coins

There are collectors that specifically find classic editions of coins that existed during the period from 1892 to 1954. These coins have marked events or may signify the work of royalty during that period. There are those collectors that prefer the modern series that are very distinct as well. One modern collection is that of the quarter dollars that represent the 50 states of the US. Minting and circulation started in 1999 and will continue until 2008. These are specially made editions available for collectors.

Many collectible coins are made of copper and a collector may encounter problems in maintaining their features and appearance. A person collecting this type of coin should learn how to maintain and take proper care of these expensive collections. Copper coins should be cleaned correctly and must be preserved the same way professional collectors treat their coins.

Professional collectors clean their coins by the process of placing the coins in a container that is airtight. This is a safe way to preserve the features of the coins. Because of the coins' years of circulation, there is the possibility of a coin accumulating encrustations, coatings, dirt, and other problems on a coin's face. These accumulations may cause pitting and corrosion to the surface of the copper coin. The corroded portions should be removed properly without making any scratches. There are products available that are made especially for coin cleaning. Coin suppliers have these products that are specifically made for coin maintenance and cleaning in stock. One product made for this purpose is MS70 which removes corrosion and other surface dirt. It is advisable to use rubber gloves for the protection of your hands, as MS70 can dry the skin but this should be of little concern because it is not that harsh on the skin. A soft toothbrush may help with cleaning and removing any dirt that is in the surface of the coin. Improvement in the appearance of the coin will be seen after it has been soaked and cleaned. If satisfaction is not met on the cleanliness and appearance of the coin, he may add baking soda to neutralize the MS70 and soak it in warm water.

Coin collecting for investment purposes can be a tricky endeavor.

The lure of coins lies in its power to draw people into the era it belonged to. These coins show many aspects of everyday life during those times.

The American Gold Eagle stands out among other bullion coins because of its lovely design, and because its value is backed by the full strength of the United States government.

For most gold coin collectors, there are the highly coveted rare gold coins and a lot of gold coin collectors are interested in these rare gold coins that they will offer high bids just to be able to get their hands on these. Within one hundred years, the concept of coins had been adopted by all of the major trading cities in the civilized world.

Minting problems don't only involve the writing on the coin. Sometimes a problem with the die causes a coin to be double stamped accidentally, resulting in a very unusual form of rare coins. The best way to get good deals, and avoid the bad ones, is to pick up some standard reference catalogues and study the pricing very carefully. As a rule, it's better to own one high quality coin than a bunch of mediocre ones.

As you become a more experienced coin collector your "eye" will mature and you'll be looking more closely at details like the lettering on a coin, making sure the letters are still clear and not worn down.

There are so many different kinds of rare coins to collect, ranging from gold bullion coins to ancient Roman coins, that it is impossible to be a true expert in all of them. You'll want to find a merchant that specializes in the particular area that is of interest to you. After he is through with the soaking, he may dry the coin using a Blue Ribbon coin cleaner and preservative; he may apply a coat and dry it for a couple of days then wipe the damp parts with soft cotton balls and place it on a small cardboard with a space on the center.

If he finds discoloring on the coin, he may use Dellars Darkener after he has soaked it in MS70. He may use this product before he applies the Blue Ribbon cleaner and preservative until he is satisfied with the cleanliness of his coin. Once satisfied with the new appearance of the coin, he may again return it to its set or collection .

The next step would be maintenance and preservation the collection. Here are some tips on how to take care of coin collections:

1.The coin should be protected from exposure to any kind of elements. It is also important not to scratch the coins; they should be handled with care to avoid scratches on the surface of the coins.

2.It is safe to store the coins in plastic cases or pockets that are made specifically for coin collections and sets. These cases and pockets can protect the coins from dirt and scratches.

3.Coins should be cleaned properly using vinegar, lemon juice, ammonia or rubbing alcohol.

4.If there is unwanted dirt that is hard to remove on the surface, chemical products for cleaning like Tarnex may be used. This option may be used if vinegar and lemon juice were not able to remove the dirt.

5.It is very important to remember that the value of the coin may depreciate if the coin has been cleaned. It is recommended to seek the advice of an expert on other ways of preserving a coin

Many coin collectors believe that a person should never ever clean their collection because they believe that any product that is applied to the coin will affect the surface. A person should know how to preserve their collection and avoid dirt from touching the coins.

When deciding which coins to collect, you should consider your interests, your budget, and your return on investment. An avid coin collector will be able to tell you virtually every piece of history that surrounds any coin in their collection both because they tend to specialize and because knowledge is one of the most important factors when it comes to starting and maintaining a collection of any value or worth.

Good quality coins purchased at reasonable prices will appreciate, but probably no better or worse than other investments. Hobbyists usually start collecting coins from their own locality. This makes sense because they are the easiest to collect. These hobbyists then expand their collection to coins from increasingly farther and earlier origins.

State coins can appreciate in value if you know what to look for. Other than printing problems, another reason why rare coins can be minted is when the wrong precious metals are used to make the coins.

Remember that most gold coins are worth more than their legal tender amount. Although they re not available for purchase directly from the U.S. Mint, American Eagle can be commonly found for sale in coin shops, on the internet, by gold dealers, and at coin shows. As money, gold coins have been a convenient way for people to do their transactions. You can get a silver locating device or a magnetic pole for finding loose coins in ditches, under cars, or in other hard-to-reach places. Or simply rely on your eyes to identify those gleaming metal circlets of potential wealth.

Coin Collecting in Modern Times Coin collecting has been a favorite pastime of many people with a reverence for history, including U.S. Presidents Thomas Jefferson and John Adams.

Complete info on how to sell gold coins.

Article Source: http://www.earticlesonline.com/Article/How-to-Take-Care-of-Collectible-Gold-Coins/117793

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