Coin Collecting 101
Are you new to coin collecting and not really sure where to start? Then this page is for you!
Here we go through the basics of coin collecting to give you the knowledge you need to make informed decisions and to learn from the mistakes that we have all made when we first started collecting (and sometimes still make) so you don't have to make them too.
A synopsis of each topic is listed below but if you want to read more, click on each topic to see an in-house article written by a member of our team that fully explains the topic in more detail.
Where do I start? How do I start collecting?
Where should I buy my coins? Should I only buy certified and graded?
How do I store my coins? How is the best way to store my coins?
How do I know how much to pay for a coin?
I have a coin but I don't know what it is.
What is a "cleaned" coin?
A "cleaned" coin is a term used when a coin has been subjected to alteration in an attempt to improve its appearance by removing dirt, tarnish, or toning. Such cleaning can involve physical methods such as using a cloth or brush, or using chemical agents that strip away surface oxidation. There are many different ways that a coin could be cleaned, all of which cause permanent damage to the coin. Whilst the intention may be to make the coin look more attractive or “like new,” cleaning causes irreversible damage to the coin’s original surfaces, resulting in unnatural luster, hairline scratches, or a loss of the coin’s natural patina. Numismatists and grading services consider cleaning to be a significant impairment as it diminishes both the aesthetic and collector value of the coin. Therefore, professionally graded coins that have been cleaned are labeled with notations such as "AU Details—Cleaned" rather than receiving a standard numerical grade, signaling to collectors that the coin has been altered and may be less desirable than an uncleaned, original-surface example.
Should I get my coins graded? Why should I have my coins graded?
What is it like at a coin show? Is it worth going to a coin show?
My coin came back "Details" from grading, what does it mean?
When you receive your coin from grading and see the word "details" on the label of your holder, it indicates that the coin could not receive a standard numerical grade due to issues affecting its surface, such as cleaning, damage, corrosion, environmental damage, or other alterations. Whilst the coin is still authenticated as genuine, grading services would note that it has "details" rather than assigning it a standard grade like MS65 or VF30. The term "details" is often accompanied by a description of the specific problem—for example, "AU Details—Cleaned" or "VF Details—Scratched," etc., indicating both the apparent wear level and the nature of the issue. Details coins are still collectible, especially key-date and key-mint coins; however, the noted issue typically reduces their market value compared with problem-free examples. It is worth remembering that in the early 20th Century, a San Francisco hotel began cleaning and washing incoming coins, as the dirty coins would soil the white gloves of the ladies who frequented the hotel and paid with cash. (1).