Coin collecting can be an exciting hobby. It can also be a lucrative one if you invest in the right coins.
Many collectors become enamored with the thought of owning coins used by the ancient Greeks or Romans. These coins have not only monetary value but historical significance as well.
It can seem challenging to get involved in collecting ancient coins, but there are a few things you can do to help ensure you make wise investments as a beginner in the classical and ancient coin market.
You should be taking the time to educate yourself thoroughly before you ever make an offer on your first ancient coin.
It can be beneficial to take courses in Latin and Greek, as these languages often appear on ancient coins. The ability to translate the inscriptions on coins, as well as read through various historical records detailing these coins, can help you learn to separate the real artifacts from the fakes.
In addition to language courses, you can partner with the American Numismatic Association in Colorado or the American Numismatic Society in New York City to complete summer seminars centered around ancient coins.
Joining an ancient coin club in your area can provide you with access to other collectors who may have more knowledge and experience investing in classic coins. Take advantage of every resource available to you when it comes to educating yourself on the history and identification of ancient coins.
Collect Dealer Catalogs
Coin dealers usually publish catalogs that list the purchase price of all valuable coins sold at auction through their dealerships. These catalogs can become valuable resources that will help you learn to spot trends within the ancient coin market.
You can use dealer catalogs to research the past market value of any ancient coin you are interested in purchasing. If you see an upward trend in the value of the coin or find that there haven't been many of that specific coin sold, you know that you can expect the coin to increase in value over time.
Dealer catalogs provide valuable market data that can be used to help you make wise investments when purchasing ancient coins for your collection.
Invest in the Right Tools
Beginners can benefit from purchasing the right tools before evaluating any coins. You will need access to a magnifying glass and a high-quality digital electronic scale. The magnifying glass can be used to help you read any inscriptions on the face of a coin or identify imperfections that might affect the coin's value.
The formal description of an ancient coin will always include the exact weight of the coin in grams. You can use your scale to weigh a coin and determine if the actual weight matches the description. Inconsistencies in weight are the easiest signs a beginner can look for to identify coins that are fake.
Look for Quality, not Quantity
One of the biggest mistakes a beginner can make when starting to collect ancient coins is purchasing as many coins as possible. Instead of purchasing a large number of inexpensive coins, take your time and try to find the most valuable coin you can afford.
Quality and rarity are two factors that can significantly affect the value of an ancient coin.
Limiting the number of coins that you purchase and focusing only on high-quality coins will help you amass a collection with significant value. This allows your collection to become not only a source of pleasure but a valuable and lucrative investment option as well.
Ancient coins offer a connection to past civilizations. Beginner coin collectors should exercise caution to ensure they are investing in the ancient coins that will retain their value and prestige over time. Contact a seller of Ancient Greek coins to learn more.