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Monday, May 15, 2000

Learn before delving into a hobby

There is more to coin collecting than meets the untrained eye

By Brian Bethel
Scripps Howard News Service

Learn about the hobby before you jump in. Especially learn as much as you can about the grading of coins. This will save you more trouble than just about anything else. There's a difference between circulated and uncirculated; uncirculated and fine; and extra-fine grades, but sometimes only an expert can truly know the difference.
   It's best to start out with something fairly accessible and not ultra-rare. Pennies are a good choice for many collectors and are the latest boom in coin collecting.
   To an untrained eye, a coin may appear to be in better shape than it really is. If you have doubts, or want to make absolutely certain that the coins you purchase are really graded properly, consider purchasing coins sold through a reputable dealer or grading house.
   Collect "key dates." In other words, look for significant dates and mint dates of coins that will retain highest values.
   In any case, always buy the highest dollar coin you can. Assuming you get a fair price for it, you will never regret the purchase.
   Coin pricing guides are never 100 percent accurate, but some are definitely better than others. Guides are based on reports by dealers, and the most accurate are any of several publications that come out at least once a week.
   Do not store your coins at home. Smart collectors keep theirs in a safe place, like a safe deposit box or some similar safe place.
  
  

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