Summary: In this article, we explain everything you need to know about organizing your coin collection. Coins are precious metals with value (some with a higher value than others) and it’s important to know how to keep things organized when collecting valuable coins. Keep reading below to learn everything you need to know about this topic.
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Avid coin collectors know the actual value of really well-organized coin collections. Still, novice collectors can go and invest hefty sums in collective coins without paying proper attention to take inventory or organize their coin collections.
There is a real value behind the seemingly menial task of categorizing and organizing your coin collection. Read on as we discuss the most popular coin-organizing methods among experienced numismatists.
Why Organize a Coin Collection?
If you think that it is menial or useless to take the time to organize your coin collection, think again. While you have ten coins, there is no reason for a particular organization, but once the coin number increases, the need for organizing your coin collection becomes apparent.
Having a detailed overview of what’s in your collection is excellent; it can help you easily and quickly determine the value of your collection. Also, you can quickly note which coins you have and which ones you’d like to add in the future, especially when browsing coin dealer websites or coming across some random coins.
Here are the four most typical methods that numismatists use to organize coin collections, and we’ll expand more on each method below:
- Specific software
There is no single best method, as all have their merits. Some of these may be more appropriate for some collectors, and others can simply have a preferred coin organization method. You need to try them and see which will work best for your needs.
Having up-to-date coin collection documentation gives you a detailed insight into your inventory. Based on this, you can quickly see which coins you have and which you’d like to add next.
Arranging documentation from your coin collection is simple, and you will need a binder folder, an inventory log, and a pen, and you are set. While there are several possible organizing criteria, you can effectively sort your coins by:
- Value of the coin
- The price you purchased the coin
- The date you purchased the coin
With the advent of programs like Microsoft Excel and Google Sheets, creating a digital spreadsheet is now accessible to all. It allows you to add, delete, and update the information on your coin collection, and every collector can set up their preferences.
You can use the advanced search function to find all you need, and as your collection grows, you can quickly and efficiently add more information to your coin collection spreadsheet.
Creating a checklist is more for the coin collector looking to expand their collection and add specific coins. You can create a checklist catalog of the items you have and create checklists for the items you wish to add to your collection.
It is not as flexible to update as the spreadsheet. We recommend you use the checklist method as an addition to a more reliable coin-organizing method.
There is software for everything to be found online today, including coin collection and organizing coin collections. There are several software types, most for extensive coin collections, as they come with a hefty price tag and extensive options. Here are some of the criteria we recommend you look for in coin collection organizing software:
- Intuitive design
- Ease of use
- Organizational flexibility
- Keeping up-to-date pricing information
- Direct access to current market prices
Such coin organization software also comes in app versions; you can use these easily and conveniently. Also, you can use your smartphone to update your coin collection on the spot or check a coin’s certificate or the current market price of a coin.
How to Care for a Coin Collection?
Any owner of a proper coin collection knows the value of adequately caring for your collection. The US Mint has developed general guidelines on caring for and storing a coin collection. It would be best to store the coins in a cool, dry place to prevent damage.
Also, ensure all coins in your collection are in their original packaging. If you have older or circulated coins in your collection, you can put these in cardboard or plastic holders, tubes or capsules, or coin albums to prevent further damage.
When handling the coins in your collection, it is best to wear soft cotton gloves to avoid leaving fingerprints or oil on the coins’ surface. You can pick up the coins with your bare hands, but this is best done by touching the coins on the edges to avoid leaving an oily residue on the coin’s faces.
Can You Clean Your Precious Metal Coins?
Some coin surfaces (especially coins with high silver content) can easily tarnish from the oily residue skin leaves on their surfaces. If this happens, you can’t simply go and polish the coin to clean it, as cleaning and polishing your precious metals coins can actually damage the surfaces instead of cleaning them.
Thus, you could only wash the coin using mild soap, rinse it with water, and pat it dry with a lint-free cotton towel. Under no circumstance should you use metal polish to shine up the coin’s surface. Even better, ask the help from a professional coin grader or dealer, and they can guide you through the process of cleaning your coins.
To Wrap Up: Organize Your Coins to Stay on Top of Things
If you decide to take up coin collecting and amass a substantial collection, keeping it organized and having an up-to-date inventory is vital to know which way to take your next purchase.
Also, it can help you maintain their value, and you can easily trade with other collectors, as you will instantly know which coin you can part with and which one you would like to add to your coin collection.
Any avid coin collector or coin investor should regularly scour the offerings of reputable coin dealers to stay in the loop with their latest offerings of rare and collectible coins. Thus, you can see if you would like to add a new coin to your organized coin collection.
If you’re looking for more articles related to coins and other precious metals, then my suggestion is to check out the posts listed below. They are worth reading, especially if you’re a current collector.
Expensive Coins Previously Sold At Auctions