Understand the value of what you are buying. Different kinds of coins have different value. If you are trying to buy silver coins at circulated coins value, then you will sure be disappointed. If you have been a collector for a while, then it’s easy for you to work out a fair value of a coin or a set of coins. If you are new, you may need to spend some time on the topic you are interested in and know how much they worth.
A good place to start your collection is with a “type set”. That is, collecting by the type of coin, rather than series, i.e. date and mint mark. I have also written an article on that. To be safe, purchase only graded coins from PCGS or NGC.
Coins are extremely easy to handle and store, in contrast to bars or bullion, which is not. They are manageable in size. They are easy to hide for the sake of security, and they are not heavy, so are easy to carry from place to place. This makes their sale much easier than bullion.
It is a good idea to purchase a coin grading book and become familiar with each coin grade. Knowing all you can about grading coins will allow you to be able to grade your own coins and also be able to make purchases with knowledge of the challenge coin creator. There are websites that will also help you determine the grade of your coins. Some will ask you to put in measurements from the coin to help evaluate its grade.
Today, there is a tremendous amount of information available online. Go read everything you can about rare coins to become a more confident buyer. I still love the feel of printed material and often buy books as my source of information.
Surf the web for trusted coin buying sites. Stay on the internet and there might just be the answer to your problem. The internet caters on almost everything these days, including buying coins. Check out reliable sites where you can sell the coins.
Sovereigns coins that are minted in the year 1817 adhere to the following specification. The actual weight of the coins is 7.9881 grams. Thickness is exactly 1.52mm and the diameter is 22.05mm. Fineness is 22 carat and the actual gold content is equivalent to 7.3224 grams.
Collecting coins is an exciting, as well as profitable, hobby but you should be well aware of the fact that there are many people who sell fake coins referring as authentic ones. So, before you put your hard-earned money in this hobby, study well and then purchase a coin.