Investing in coins and precious metals can be an excellent way to diversify your portfolio while acquiring some tangible assets. However, unlike other forms of investment, those assets require constant preventative maintenance and care. When the time comes to have your collection appraised, it's important that your strategy for storage hasn't created wear and tear that will decrease your collection's value.
Below, you'll find a guide to some storage and handling tips that will help you maximize the value of your coin collection. By displaying your coins in their best possible condition, you will receive an appraisal that will greatly enhance the value of your assets.
If you've purchased coins that didn't come to you straight from a mint or other certified distributor, it's possible that they could bear some of the dirt and contamination of regular circulation. While this doesn't directly decrease the value of the coin, it may make it appear more damaged than it is and could harm your appraisal value.
Removing this dirt, however, requires a careful and gentle hand. Soaking your coins in warm water with a small amount of dish soap and then rubbing them gently with a dry cloth should allow you to remove even the most stubborn spots while also being sure to not strip away any small flakes of valuable precious metal.
Security shouldn't be your only concern when it comes to storing your coin collection. The effects of temperature and humidity can cause warping or breed infestation from mold and spores which can eat away at your collection's value.
Make sure that your collection is always stored in a location that is both climate- and temperature-controlled. This means that any safe you keep in your home should be kept in a place where the temperature is controlled for human comfort, and if that's not an option, you should consider leasing a safe deposit box.
Ultimately, it's impossible to secure your desired appraisal value if you're unsure of what you even have in your collection. Purchasing large quantities of coins can quickly become overwhelming, so it's important that you work to stay ahead of the curve and keep up with your inventory. A careful cataloging system will allow you to find each individual piece quickly, making sure that you constantly track both your purchase price as well as your expected return in order to generate accurate financial reports.
For more information, contact a company like Fullerton Coins & Stamps.