Starting a coin collecting is pretty easy. In order to grow your coin collecting and protect your investment there are a few supplies you will want to pick up along the way. You don't have to buy every coin supply that there is, but it is a good idea to know what supplies are available so you can pick them up when you do need them.
There are plenty of price guides for coins on the market. One of the most trusted is produced by Whitman. Called the Red Book, you can find a new edition of this price guide published each year. Serious collectors may buy a new edition each year, but as long as you have one it will help you get started.
Having a Red Book in your possession is helpful for many reasons. This book contains information about the coins you are collecting. If you want to know where a mint mark is on a coin â this book will tell you. If you want to know how rare a coin is â this book will tell you. You can also use the Red Book to get an idea of how much you should be paying for a coin so you don't get taken advantage of.
A magnifying glass is an essential part of any coin collection. You can use the magnifying glass to find hard to spot mint marks. A magnifying glass will also help you see the full detail of a coin which will allow you to more accurately place an approximate value on it. Even looking for a date on a coin can be difficult, but a magnifying glass will lessen the amount of squinting you have to do!
If you tend to collect a lot of pocket change, consider storing it in coin tubes instead of a big bucket at the bottom of your closet. Every little ding and blemish your coins are subjected to will lessen their value. If you don't have the time to place each coin you save into a protective holder, coin tubes will at least offer some protection!
Mylar coin holders
Many people like to use coin folders to store their coin collections. Coin folders are great because they act as a guide and make it easy to see which coins you still need to collect. The problem with coin folders is that the fronts of your coins are not protected and they can get scratched and dinged when you open and close them.
Mylar coin holders are a better option for storing your coin collection. Every coin that is placed in one of these Mylar coin holders is protected on all sides. You can use the top edge of the mylar coin holder to make a note of what the coin is for easy reference.
So now you have a bunch of Mylar coin holders floating around. If you want to organize them you will need to invest in a few coin wallets. These are specially designed to hold the mylar coin holders and they will make it very easy for you to organize and view your collection.
Plastic coin holders
If you have a particularly valuable coin in your collection you will want to store it in a plastic coin holder. This type of coin holder is much more durable than the mylar alternatives. Plastic coin holders are much more expensive which is why they are better suited for your more valuable coins.