Coin Collecting Strategies: 7 Ways to Improve Your Coin Collection
Someone recently asked me a question that I thought was interesting and that merited a detailed response. To paraphrase this question, they basically asked me this: can you tell me some ways that I can improve my coin collection while spending little or no money?
Are there any actual ways that you can make your coin collection better without dropping a lot of coin (bad pun intended)? I believe that there are and here are a few that came to mind:
1. Bring Out Your Dead. Every collector has them. Duds. Bad deals. Low-end duplicates. You know what I’m talking about: the Dead Zone of your coin collection. These coins may represent more value than you realize. As an example, I recently had a relatively expensive double eagle in stock that a collector wanted for his set but he had no extra money at the time. I had him send me a list of the dead coins he owned; bullion, generic Saints, Morgan dollar rolls, etc. The value of his “stuff” was considerably more than he realized and he was actually in a nice profit position on his bullion. The choice to trade spillage for one nice, rare coin was easy for him to make. And the good news was that he had enough money left over so that he can actively pursue another neat coin or two.