You can find rewards beyond measure with a rare gold coin collection, but how should you begin? It is easy to know that rare coins are a good investment, and that creating a smart collection will provide you with wealth in your retirement. But what do you really need to know about rare gold coins, and how can you find that information out for yourself? There is a lot to learn, and it can be overwhelming for the gold coin novice to get up to speed on everything that must be understood at the beginning.
Research will pay off, however, when you have a gold coin collection that makes you proud, not to mention preserves and protects your wealth. Before you start buying, make sure that you understand some basic things about coin collecting. You can start your education with The Guidebook of United States Coins. Most industry insiders call this guidebook “The Red Book,” and it contains a wealth of information that anyone from the beginner to the expert can benefit from. Along with a list of every U.S. coin ever minted, The Red Book contains descriptions of the coin, a list of original mintages, brief histories, and value estimations. You can buy The Red Book relatively cheaply, and it will benefit you immensely as you get started.
Other print resources can help you get your gold coin collection started, as well, but don’t get too invested in any one guidebook. Remember that it is easy for such books to go out of date, and also that they don’t give you certain pieces of information that are helpful in determining value. For example, just because there was a large original minting of a particular coin does not mean that it isn’t scarce these days. Maybe there was a large minting and almost all the coins have disappeared from circulation. Such a coin would be considerably rarer than a coin with a small original minting where nearly all the coins have survived.
Before you get started with your gold coin collection, talk with your financial advisor about your current monetary situation and how gold coins can fit into your investment strategies. You may want to get advice from an advisor who has experience investing in areas like precious metals and rare coins, because these markets are unique and require a delicate touch. When you are ready to start collecting rare coins, you will love all the options available to you.
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