You’ve made the investment in a coin collection but are you protecting it the best way possible? The numismatic professionals at Common Cents Coins + Collectibles have gathered three tips to help ensure your collection stays safe and retains its condition. Whether you plan to sell your collection in the future or pass it down to the next generation, these tips will help maintain your investment for years to come.
Decide Where to Store Your Collection
There are two main options for where to store a coin collection – at home or a bank. Most people choose to store theirs at home so it can be accessed easily. After all, part of the joy of collecting is being able to look at your prized items! However, if your collection is of significant value, consider storing it at the bank in a safety deposit box. The drawback is you’ll need to lease a box from the bank you can only access it during banking hours.
If choosing to store at home, purchase a fire-proof safe. Whether at home or a bank, you’ll want to insure your collection. Check with your insurance provider to find out how much is covered under your current policy and whether you need to purchase extra coverage. The FDIC does not insure the contents of a safety deposit box, so don’t assume it’s covered.
Consider Temperature and Humidity
When storing at home, you’ll want to select a place where the temperature stays steady – so don’t store in an attic, garage or basement. Store out of direct sunlight as well. Humidity is always a factor when dealing with metal and metals react to humidity at different rates. According to PCGS (Professional Coin Grading Service), “Copper is most reactive and needs the most protection, as even just a few particles of water and dust can damage a stored coin in as little as a few months. Silver is also very reactive and care needs to be taken to keep it away from items such as tissue paper or cardboard shoe boxes.”
You’ll also want to place a desiccant in the safe to draw any moisture away from the coins. The most common type is silica gel packs. Although they are cheap, you’ll need to swap them out periodically. You can also buy a rechargeable silica gel canister.
Select storage products
There are myriad products for individual coin storage such as albums, tubes, flips, sleeves, capsules and more. First, avoid any storage containing PVC as over time the chemical can leach out and damage coins. Vinyl can cause small scratches on the coins, so most experts recommend using mylar. If you have many coins, you’ll probably want to organize them in an album or tube. The materials should be archival quality and acid-free.
If you have any questions about proper storage for coin collections, please give us a call at 513-576-1189, email firstname.lastname@example.org or stop into our Milford, Ohio location. Our staff has over 50 years of combined numismatic experience. We are a reputable dealer with memberships in the American Numismatic Association and Better Business Bureau.