7 Coin Collecting Myths That Could Mislead New Collector

The history and culture of coin collecting, or numismatics, are interesting. As with every pastime, it has myths and misconceptions that might mislead newbies. Seven typical coin-collecting myths  

Age impacts coin value, but not alone. Rarity, condition, demand, and historical significance matter. Mistakes or limited mintages can make modern coins rarer and more expensive.  

Old coins are always worth more.  

Value isn't guaranteed by rarity. Collector demand determines coin value. Rare coins with minimal appeal or historical relevance may be valued less.  

All uncommon coins are valuable. 

Cleaning coins with harsh chemicals or abrasion devalues them. Collectors appreciate "uncleaned." coins. Coin patina may be damaged by cleaning, diminishing collectibility.  

Clean coins are worthier.  

Professional coin graders employ criteria to evaluate coins despite subjectivity. Assessments include wear, lustre, strike quality, and surface preservation. Professional PCGS and NGC numismatists follow tight requirements.  

Coin grading is subjective.  

The pastime of coin collecting is not an investment, yet some coins appreciate. Economics, collector preferences, and market conditions determine coin values. Research and collect coins you enjoy, not profit.  

Coin investing pays always.  

Some mint mistakes boost coin value, whereas collectors prefer others. Minor faults may not increase coin value, but double and off-center strikes do. Error coins are rare and collectable.  

Every imperfection values coins.

Coin collecting can be cheap. Million-dollar rarities to cheap circulating coins. Within their budget, collectors may specialise by theme, time, or denomination. Coin shows and clubs offer cheap buying, selling, and trading.  

Coin collection is costly.  

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