How do I start collecting?
The best thing to do is just start picking up different things: coins, medals, tokens or notes that attract your attention. Also pick up a couple of standard reference catalogues such as The Charlton Standard Catalogue of Canadian Coins or Haxby's Coins of Canada. They will prove invaluable in the future. Eventually you will need a plan to organize your collection. Let this follow your interests and other hobbies. Most collectors decide to specialize in issues of a particular country or time period, or even a theme, such as trains. What you chose is up to you, there are no rules. The Canadian Numismatic Association also runs a correspondence course.
What coins should I buy?
There are three basic rules to follow: buy what you like, buy what you can afford, and buy what you consider reasonably priced. In other words, enjoy your coins, and don't pay too much for them. Your collection should be fun to own and affordable. It is an old maxim that collectors should buy the book before they buy the coin. As a rule, it is better to own one high-quality coin than it is to own several mediocre ones.
How approachable are dealers to new collectors?
Most dealers are willing to help out a new collector with advice and information but not all the time. However this is a business and their time means money. If a dealer is busy with customers then wait, or come back later. If a customer shows up, offer to wait until after they have been served. It also helps if you repay their time with a little patronage. It doesn't have to be an expensive item, but it proves that you are sincere about collecting.
Are coins and banknotes a good investment?
Yes and no. Some people have made a lot of money buying and selling coins, and others have lost fortunes. If you are serious about investing in numismatics, first spend a bit of time learning. Most successful investors were knowledgeable collectors first. A well-chosen coin collection will appreciate, but probably no better or worse than any other investment. By well-chosen we mean good quality coins purchased at reasonable prices.
I've got a bunch of dirty old coins and banknotes, how do I clean them?
Don't! Chances are you'll do more damage than good. The process of cleaning often leaves tiny scratches that will show up with a magnifying glass and lower the value of the coin. Physical dirt can be removed by careful washing with a hand soap and patting dry. Tarnish, called toning to collectors, does not lower the value of the coin. Although dips can remove the tarnish, they also remove any remaining mint lustre. The result is a coin with an unnatural appearance and a lower value.
How do I sell my collection?
It depends on the coins. Most people believe that auctions will get the fairest price, but not always. Dealers are also looking to buy coins or collections. The best thing to do is take an inventory and then contact a couple of dealers or auctioneers to see if they are interested. It is possible that they aren't. If they express an interest you'll have to make arrangements to show them the coins. If they make an offer urge them to take all or nothing. A dealer will generally prefer to take only the desirable items, leaving you with the common ones that are difficult to sell. If there's a coin show in your area you may want to take your collections there. With a room full of dealers you won't have to wait long for an answer. Once you've got some offers the decision is up to you, they are your coins. After checking out the retail price of your coins be prepared for a shock when you get some offers, there is a significant difference between dealer's selling prices and buying prices, that's how they earn a living. If nobody wants your coins don't despair, you can always spend them.
Although there are exceptions, most old coins are not particularly valuable unless they are very well-preserved. The best place to start is by making a trip to the reference section of your local library. There are a number of catalogues, some for specific countries. When in doubt the Standard Catalogue of World Coins or the Standard Catalogue of World Paper Money offer fairly complete lists of almost everything.
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