The Essential Tools For Caring For Rare Coins

As you begin to develop a coin collection, you may notice that there is something wrong with some of your rare coins. One of your rare coins may have become damaged or you may discover a coin that is actually a counterfeit. To make sure that your rare coin collection is in good condition, you must have the right tools of the trade so you can get to work.

A Magnifying Glass Or Jeweler's Loupe

You will need a magnifying glass to see the coin more clearly. This will allow you to see smaller, finer details, which will allow you to determine what type of coin it is and if there is any damage that you might need to account for. The magnifying glass also assists in spotting fake coins.

Coin Collector's Guides

Every coin collector will need two specific books:

  • A Guidebook Of United States Coins
  • The Official Numismatic Association Grading Standards Of United States Coins

The first book provides pricing details for all U.S. coins. The second book provides detailed descriptions of all U.S. coins and how grading is determined. These books can be purchased at a local coin shop.

Cloth Gloves

To protect your coins, they need to be handled very carefully. Pick up the coins by always holding them by the edge. If a coin is held with your fingers touching the face, this can cause damage to the coin. Consider getting cloth gloves to wear when working with the rare coin because the gloves will protect the coins from damage. Then, make sure the place the coins in coin holders immediately after handling them.

Distilled Water And Weak Soap

While you need to clean most things in life, you should not clean your coins. Most cleaners are acid-based and will wear away the coin, causing it to degrade in appearance and lose much of its value. Regularly cleaning a coin can cause it to lose half of its value. If you must clean your coins, only use distilled water and weak soap.

It may take a lot of work to maintain your rare coin collection, but there is nothing like holding a piece of history in your hands. There is often a fascinating story for why a coin from a particular period looks a certain way. It is also amazing to hold a coin that may have been in the pocket of a famous historical figure. To learn more, contact a company like Rocky Mountain Coin Inc. 

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Understanding Financial Freedom

About 10 years ago I can honestly say that I didn't understand what it meant to truly be financially free. I was bound by my monthly bills, just doing whatever it took to keep my creditors happy. It was a terrible way to live, and I was really depressed. I didn't know how to change things, but I knew that I had to start somewhere. Eventually, I decided that it would make the most sense to make a financial plan and try to dig myself out of debt. That simple decision was all I needed to completely change my life. This blog is all about understanding financial freedom.