Collecting Rare Coins at Estate Sales

Collecting Rare Coins at Estate Sales

There are many collectible items that can be found at an estate sale. From guitars to comic books to rare coins, once you purchase something of your choice, you then have to go about taking care of the item. This will not only increase its longevity but also preserve its value.
If you happen to take on the hobby of collecting coins, or perhaps this is even your job, the next time you go to an estate sale, make sure you are properly prepared.

Bring a Magnifying Glass

From day one of collecting coins, you will need a magnifying glass. Even if you are in your teens, sifting through old wheat cents, you will want to check out the dates and mint marks. To do this, you will need a trustworthy magnifying glass. Fortunately, this item can be purchased at about any local hardware store and it’s not expensive.

Purchase a Pricing Guide

No matter the items you are collecting, but especially with coins, you will want to purchase a current pricing guide. In doing this, you can easily flip through the pages, identifying what particular types of coins are worth. Once you get to an estate sale, you can use the pricing guide to make sure you don’t overpay for a coin. Better yet, you can use it to determine when you are getting a good deal. Once again, a pricing guide is not expensive, with the Red Book costing about $15. Nowadays, if you have good connectivity on your smartphone, you can also look things up online.

Protective Sleeves and Holders

Once you purchase coins at an estate sale, you can’t just throw them in a bag or bucket without any type of protection. Whether it be pennies, half dollars, nickels or a combination of these coins, you will want to protect them. A great way to do this is to store them in a coin folder; this type of folder has individually labeled slots for different coins.

Mylar Flips

Mylar Flips are great for storing your random coins in. They are much the same as a coin folder; however, you will have to go about labeling your coins yourself because they won’t be part of a set like they are in a regular coin folder.

Coin Tubes

If you happen to have some random coins that you don’t care much for, but you insist on not getting rid of them or spending them, store them in coin tubes. Such tubes are available for all denominations of coins, with most of them holding 50 coins per tube. If you want to go a cheaper route than purchasing coin tubes, consider rolling your coins in paper coin wrappers.

Cotton Gloves

If you are dealing with high-grade coins, you will probably want to invest in cotton gloves. You should wear them anytime you are handling your coins so that any oil and dirt won’t harm them. Furthermore, when handling your coins, make sure to lay them on some type of felt.
Collecting coins can be fun. Just make sure you are prepared with the basic items mentioned above on your next estate sale venture.