Collecting rare coins can be quite advantageous if you want a hobby that is both interesting and worth the monetary investment. In fact, you are likely to make back your full investment, and then some, if you decide to sell your coins. Coins can only retain their value if they remain in good condition, and this means storing them correctly. Keep reading to learn about some storage tips that will help to keep your coin collection safe.
Opt For The Best Coin Holders
There are a wide variety of different holders that you can purchase to keep your coins contained and free from dust and other debris. If you have a variety of coins that are not worth a lot, then cardboard holders are a good option. These holders are made from cardboard, have two slots to hold coins, and are fitted with thin plastic windows. To secure the coins in the holders, you will need to fold the coins down against one another and place staples around the edges.
If your budget allows or if you have fewer coins that need to be stored, then purchase mylar plastic sleeves. These sleeves are made from polyethylene terephthalate, like the plastic material used to store baseball cards. Mylar has a fairly high tensile strength and it can retain a good deal of thermal stress, so the sleeves can keep coins in great shape under a variety of conditions. Plastic holders that snap over the coins are a good option too.
If you have coins that are rare or worth a lot of money, then you should purchase coin slabs for them. A coin slab is the type of holder that professional grading companies place coins into once the grading process is over, and you can purchase these slabs to contain your coins at home. The slabs are made from thick plastic and are rectangular. A round opening allows you to place the coin in the slab and a small space underneath can fit a small piece of paper that describes the coin. When you are ready, press down on the two pieces of the slab to snap them over the coin.
While a slab you add yourself will certainly keep your coin safe, the most secure slabs are ones that are added by grading companies. Instead of snapping the holders in place, the two pieces of the slab are sealed with an ultrasonic sealing process. This helps to keep coins safe and the holders become tamper proof as well, so they cannot be opened.
Dust the Coins Gently
It is incredibly important that you avoid cleaning your coins before storing them. Cleaning can cause damage, remove the natural patina, and greatly reduce the value of the coins. You should never use cleaning solutions yourself to remove debris. However, coins that appear to have a light green coloring may have been stored improperly and probably should be cleaned; this is one of the only cases where a coin may need cleaning, and the residue will need to be removed by a professional.
Instead, you should dust coins before placing them in holders. Wear cotton gloves so you do not transfer oils from the skin to the coins. Use a microfiber cloth to gently dust loose debris from the coins. Place them into holders immediately afterwards.
You can invest your money wisely by purchasing and keeping rare and collectable coins. Storing the coins properly is the best way to retain your investment, so make sure to purchase good holders for the coins and also dust them off gently before adding them to the holders.Share
22 July 2016
As I see it, one problem with most budgeting programs is that they don't account for the "real life" factor. Anyone can tell you not to spend anything and to save everything, but when it comes to feeding your kids or dealing with a medical emergency, most budgets get thrown out the window. I realized that this was a problem, so I decided to start focusing on budgeting for real life. I decided to forget everything that I knew about budgeting and started working with a clean slate. This blog is all about budgeting for real life and knowing how to spend your money the smart way.