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Coin collection experts know that properly cataloging every item they own is an important part of storing and preserving their coins. Being organized also means taking time to record important information about the collection to make it easier to sell your rare coins and keep track of what you own. Here’s a closer look at the value of cataloging coins and advice for creating your own process.
The Importance of Cataloging Rare Coins
If you’re new to investing in coins, you may only have a few items in your collection. However, as you buy and sell rare coins and increase your holdings, being organized will save you hours down the line. Cataloging your coins ensures that there’s a record of the essential details about each coin, and this information can guide your decisions about future investments. For example, if you mostly own gold coins, you may want to diversify and buy silver or platinum coins. Having detailed records will also make it easier to pass down your collection to your children or other family members.
Recording Essential Information
You should document several essential details as you build your catalog. These include each coin’s country of origin, production year, mint mark, series, the grade, and the third-party grading service, if applicable. You should also document the quantity of each type of coin you own and the date on which you purchased it. Finally, it’s usually a good idea to record the price you originally paid for the coins in your collection so that you can track changes in their values.
Deciding on a Cataloging Method
Choosing how to catalog your coin collection often comes down to your preferences. If your collection is relatively small, you may only need to keep records in a notebook or on index cards. For larger collections, you might be better off using a spreadsheet or software designed for coin collectors. Among these programs, there are free options like NGC Registry and PCGS Set Registry, as well as programs that cost money like CoinManage and Collector’s Assistant by Carlisle Development. Regardless of the method you choose, it’s always a good idea to create a backup in case your original records get damaged.
Additional Benefits of a Cataloged Collection
In addition to the above, having a cataloged coin collection will help you quickly identify coins that may be missing from your collection, or provide you with the opportunity to upgrade an existing coin. Additionally, a detailed list of your coins and values is oftentimes needed for insurance purposes. It’s much easier to forward an existing document to an insurance agent as opposed to creating a document from scratch.
Cataloging your inventory will make it easier for you to manage your investments in rare coins and pass on your collection to future generations. If you need assistance with coin appraisals and buying or selling rare coins, you can trust Atlanta Gold & Coin Buyers to assist you. We have two locations in the Atlanta metro area, and we’re happy to help customers in other cities with our mail-in and online services.
We offer honest, transparent advice along with highly competitive rates for people who want to sell rare coins and bullion. To schedule an appointment with us, call 678-922-4909 or fill out our online form.
Tony Davis
Tony Davis is the owner of Atlanta Gold & Coin Buyers, a full service Atlanta based coin and bullion dealer specializing in buying, selling and appraising coins and coin collections of all types and sizes.Tony frequently writes on various economic and numismatic related topics affecting the coin and bullion markets and has been published on some of the industry’s leading websites, including Coin Week, the American Numismatic Association, Coin Collector, Coinflation, and Coin Auctions Help, just to name a few.Visit Atlanta Gold & Coin’s website at atlantagoldandcoin.com to obtain additional information on the products, services and educational resources offered by his company. Tony can be reached at sales@atlantagoldandcoin.com or at 404-236-9744
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