Coin Care Tips for Collectors

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Coin Care Tips for Collectors

17 November 2020
 Categories: Finance & Money, Blog

Failing to effectively protect and care for your coins can be a major mistake if you are in the process of starting a coin collection. Unfortunately, it can be surprisingly easy to make these mistakes, and they can result in sizable losses when it comes to the value of your coins.

Avoid Handling Old Coins

It is essential for you to avoid handling your ancient or old coins as much as possible. There are oils and other substances on your hands that can damage the coins if they were to get on them. If it is absolutely necessary for you to handle your coins, it is always preferable to wear gloves that will protect the coins from any substances that are on your hands. If gloves are not available, your hands will have to be thoroughly washed and dried in order to allow you to safely handle the coins.

Invest in a Protective Case for Ancient Coins

Ancient coins can be especially vulnerable to suffering degradation, but it is possible to reduce the risk of this occurring if you keep the coins in a protective case. In addition to protecting the coins from being damaged by impacts, it can also keep the coins safe from excess humidity. In fact, humidity can be one of the primary causes of damage to coins. The humidity will allow condensation to form on the coins and eventually, that will be able to corrode them. While a climate-controlled storage case can be a sizable investment, it will be the most effective at protecting your coins so that they will be in good condition for many years after you acquire them.

Keep Your Ancient or Valuable Coins Insured

Unfortunately, it can be possible for your coin collection to suffer damage or loss. For example, it can be possible for a fire to destroy these coins or for a criminal to steal them. In addition to the monetary value of this collection, these coins may also represent years of work and collecting. While it may not be possible to replace the work and emotional attachment that you had with your coin collection, you can protect yourself from the financial losses that could occur by investing in an insurance policy for the coin collection. In the event that your coins are destroyed, damaged, or stolen, this will allow you to file a claim to receive compensation. Individuals may assume that these items will be covered by their homeowner's policy, but these policies may have exemptions against covering collectibles or other high-value items.

To learn more about protecting your byzantine coins or your coin collection, contact a supplier near you.