How To Get Started

Table of Contents:

Guide to Understanding Your Coins 

• How to Get Started 

• How to Inventory Your Coins 

• How to Handle Your Coins 

• How to Identify Your Coins 

• How to Grade Your Coins 

• How to Sell Your Coins 

• How to Store Your Coins 

There is a lot of information to take in all at once.  You will probably hear me reference some things that you don't know about.  I had no idea what numismatics was when I first started.  So let's get that out of the way first.  

Numismatics: the study or collection of coins, paper currency, and medals.

I am going to provide you with some basic steps and then further details beyond that on this page.  You may find some additional information on the FAQ page.  As people read this and provide feedback, I will update this page in an effort to make it more user friendly.

Steps:

Don't Rush — Avoid Cleaning or Selling Immediately

• Do not clean any coins. Cleaning can destroy value.

• Do not sell anything until you know what you have.

• Start with gentle, organized assessment — no pressure.

Organize and Inventory the Collection

• Create a basic inventory:

  • Group coins by type (e.g. U.S. coins, foreign, bullion, commemoratives).

  • Note dates, denominations, and mint marks.

  • Record quantity, any written notes, and obvious highlights (like gold or silver).

• Use a spreadsheet, app, or even paper.

Identify Valuable Coins

• Look for coins that might have numismatic or bullion value:

  • Coins before 1965 (many U.S. dimes, quarters, half dollars) often contain silver.

  • Gold coins or those marked with weight/purity (e.g. 1 oz .9999).

  • Coins in mint packaging, proof sets, or slabs (graded by companies like PCGS or NGC).

  • Unusual or low mintage years, errors, or foreign rarities.

Do Some Basic Research

• Use tools like:

  • Red Book (Guide Book of United States Coins) — for general pricing.

  • NGC or PCGS price guides and coin identifier tools.

  • Online forums or groups (e.g. CoinTalk, Reddit’s r/coins).

Get a Professional Appraisal (If Needed)

• Consider an appraisal if:

  • The collection is large, old, or includes potentially rare coins.

  • You’re unsure of value or planning to sell or insure.

• Look for a reputable numismatist or coin dealer:

  • Preferably certified by ANA (American Numismatic Association) or affiliated with PCGS/NGC.

  • Ask for a non-binding verbal appraisal first (some are free).

  • Avoid buyers who pressure you or undervalue coins.

Decide What to Do with the Collection

• If Keeping:

  • Store coins properly (see previous response on storage).

  • Consider continuing the collection or gifting part of it.

• If Selling:

  • Options include:

    • Reputable coin dealers (best for rare coins).

    • Auction houses (for very valuable or specialized coins).

    • Online marketplaces (e.g. eBay — requires effort and knowledge).

    • Bullion buyers (for silver/gold coins).

  • Don’t sell the entire collection as a “lot” unless you’re certain there’s no significant value.

Secure and Insure

• Keep high-value coins in a safe, secure location.

• For large or valuable collections, look into insurance through a collector’s policy or rider on homeowners insurance.

Avoid

• Don’t trust random “We Buy Gold & Silver” stores without vetting.

• Don’t split up original proof or mint sets — they’re more valuable intact.

• Don’t remove coins from certified holders or albums unless necessary.