Coin Collecting Information

Nicholas Tan asked:


If you are a coin collector who wants to sell or buy coins, one good way to do it is through coin auctions or bidding.

Coin auctions provide the best ways to obtain coins that have remarkable values. Coin auctions are the primary source of rare coins because most rare coin collectors want to sell their treasures to the highest bidder.

Unlike the typical way of selling and buying coins, coin auctions entail some rules and regulations for both the bidder and the seller that they must adhere to.

Basically, there are three types of coin collecting auctions. These are:

1. Auctions through mail bidding

In this type of coin auction, the seller will advertise and publish coin auctions through the mail. This is highly beneficial for people who want to participate in the activity but cannot attend the event personally.

Usually, the seller has a mailing list available and it is used to send catalogs that contain the descriptions and pictures of the item(s) to be sold. At times it may contain the starting bid amount and other pertinent information.

The seller’s mailing list, the catalogs, or brochures are sent out to the potential bidders. These lists may also be sent to those who have purchased from them in the past.

2. Phone auctions

These auctions are conducted by phone. Just like the mail bidding, phone auctions must observe the rules and regulations that are to be followed.

Once the highest bid is identified, the item goes to the winner. However, there are some instances when people may ask the seller for an approximate selling price but the rules still remain the same, no disclosure of previous bids.

3. Online coin auctions

This type of auction is popular because when bidding on a particular coin the bidder is able to see what the coin looks like. Greater interaction between the seller and the buyer may also be achieved as the seller can instantly contact the bidder for important information.

The only drawback to this kind of coin auction is that through the Internet, others can deceive a coin collector into believing that what they see on the screen is exactly the same item that they are bidding on.

All of these things can provide you with the best ways of obtaining the best coins available on the market. Just try to stick to your bidding budget.

Muna wa Wanjiru asked:


There are a great many things you can do wrong in the caring for coins, and I have to say that at the tender age of eight I did just about everything wrong that you can imagine. Luckily for me I didn’t have any old or rare coins in my possession otherwise for certain they would have been ruined beyond all hope!

However, I did learn a lot of what-not-to-do’s from my early forays, as well as a few good tips on caring for coins to conserve my coin collection. All of these experiences, came through my own, or my fellow coin collectors’ efforts and have all proven to be equally disastrous and equally worthy.

If you’re only into coin collecting for the fun of it and don’t have any particularly rare coins, then go ahead and break all the rules about caring for coins.

Rules were meant to be broken and if you’re an avid coin collector it can be a breath of fresh air in your life. I know from firsthand experience how frustrating it can get if you have to always be handling your coins with kid gloves, so to speak.

For me at least part of the pleasure of coin collecting is getting my hands on the coins and running it through my hands. Which you’ll find when caring for coins, is a no-no to most coin collectors.

However, I’m only alive once and if I can’t enjoy the fruits of my efforts in a manner that I like then what’s the use? So know when to break the rules and when you should really stick to them in caring for coins.