Regardless of how old you are, now is a great time to take up coin collecting. Today it’s easier than ever to find, buy, trade and even sell coins over the Internet and by phone. Collecting coins is a fascinating, fun hobby you can enjoy in your leisure whenever you feel like it. It’s a relaxing, interesting activity you can plan to engage in long term.
Plan to collect coins over the course of your lifetime, and you can set and achieve some very worthwhile collection goals. You can take your time deciding what type of collections to assemble, consider how much it might cost to do so and also evaluate the likelihood you’ll come across the rare coins your collection will include.
If you plan to work on a coin collection for many years, you aren’t limited by today’s constraints and immediate needs. You may be paying off a car, a mortgage or student loans today, and that might mean investing in rare coins is out of your budget. However, ten years from now when you own your car and 15 years from now when your house is paid off, you may well be able to afford those more expensive coins you plan today to own.
Basing their collections strictly on today’s circumstances is one of the biggest mistakes coin collectors make. They choose to collect only coins they know they can reasonably afford to invest in this year, or possibly in the next two or three years. They may assemble an interesting and worthwhile collection, but how much more valuable would their collection be if they planned ahead to add to it for 20 or more years?
One very big advantage to planning to complete your coin collection over time is the knowledge you’ll gain over the years. If you’re actively engaged in your hobby, you’ll have many more years of experience when it’s time to invest in those rare coins you need to complete your collection. This means you’ll be far less likely to overpay for those coins, or make a mistake that could be very costly.
Planning to collect coins throughout your lifetime involves setting a long term goal. As you assemble your collection over the years, you’ll enjoy a great sense of satisfaction each time it grows. You’ll feel good about achieving your goals, plus you’ll always know you can look forward to adding to it again and again. Ultimately, you’ll own a valuable collection of coins, plus you’ll have something special that represents a lifetime of personal achievements.