Coin collecting is an intricate, sophisticated and profitable hobby. It can be enjoyed by many people who love finding enhanced value in old time coins. “Coin collecting was called the kings hobby.” Dan Capozello, owner of the Coin Cove, said. “It’s from ancient times.” Collecting coins needs patience and knowledge. Patience, to allow the profit of a coin to grow and knowledge to know which coins will generate a decent income and when to sell.
“You don’t lose money, Capozello said. “You go buy a new car and drive it off the lot you have already lost a lot of your money. It doesn’t work that way with coins. They do drop in price and they do increase in price.” When looking for coins, be sure to invest some time when pondering over your next purchase. This ensures that the coins you want to buy are not counterfeit. “The biggest problem we have in coin collecting is the counterfeit that we have coming in from China.” Capozello said. “They are counterfeiting them, and they are doing a wonderful job. It’s very hard to detect. You can lose a lot of money really quick.”
Coin collecting can help you make a profit and also build strong bonds with your family. Sharing the coin collecting mentality with children, is a great way to have a hobby that your family will love and can profit from for years to come. “You can make a little money on them, if you hold them long enough,” Capozello said. “You can’t buy today and instantly sell tomorrow and make money. Buy what you like, that way you don’t have regrets. You at least have something that you like, and it will retain value.