• Login/ out
  • My Account
  • Register

Top Menu
Shop Menu

  • HOME
  • SHOP
    • Deal of the Day
    • Blowout Specials
    • Unique Deals
    • Deals on Decimal & Paper Money
    • Royal Canadian Mint
    • Just Released Products
    • Auction
    • Gold, Silver & Copper Bullion
    • Canada Decimal Coins
    • Canada Rolls 1960 to Date
    • Canada Paper Money
    • Maritime Coins & Bank Tokens
    • Perth & New Zealand Mints
    • United States Decimal & Sets
    • World Coins and Paper Money
    • Coin Supplies
    • Mega Specials
    • Gift Ideas
    • Our Ebay
  • SELL TO US
  • AUCTION
    • Consign with us
  • CONTACT US
    • Shipping Information
    • Privacy Policy
    • Terms of Sale
    • FAQ
  • MEET OUR TEAM
    • History
  • COLLECTORS CORNER
  • BULLION CORNER
  • Deal of the Day
  • Blowout Specials
  • Unique Deals
  • Deals on Decimal & Paper Money
  • Royal Canadian Mint
  • Just Released Products
  • Auction
  • Gold, Silver & Copper Bullion
  • Canada Decimal Coins
  • Canada Rolls 1960 to Date
  • Canada Paper Money
  • Maritime Coins & Bank Tokens
  • Perth & New Zealand Mints
  • United States Decimal & Sets
  • World Coins and Paper Money
  • Coin Supplies
  • Mega Specials
  • Gift Ideas
  • Our Ebay
  • Bullion Corner

  • HOME
  • SHOP
    • Deal of the Day
    • Blowout Specials
    • Unique Deals
    • Deals on Decimal & Paper Money
    • Royal Canadian Mint
    • Just Released Products
    • Auction
    • Gold, Silver & Copper Bullion
    • Canada Decimal Coins
    • Canada Rolls 1960 to Date
    • Canada Paper Money
    • Maritime Coins & Bank Tokens
    • Perth & New Zealand Mints
    • United States Decimal & Sets
    • World Coins and Paper Money
    • Coin Supplies
    • Mega Specials
    • Gift Ideas
    • Our Ebay
  • SELL TO US
  • AUCTION
    • Consign with us
    • Current Auction
    • Featured Items
  • INFO
    • Canada’s 150th
    • Contact Us
    • Shipping Information
    • Privacy Policy
    • Terms of Sale
    • FAQ
    • Days Closed
  • About Us
    • History
    • MEET OUR TEAM
  • COLLECTORS CORNER
  • BULLION CORNER
Contact Us| Login/Out | My Account | New User
 
View Cart
Click for the BBB Business Review of this TBD in Kitchener ON
Shopper Approved | Colonial Acres Coins PayPal | Colonial Acres Coins MasterCard | Colonial Acres Coins Visa | Colonial Acres Coins
Don't Fall for these Coin Collecting MythsDon't Fall for these Coin Collecting MythsDon't Fall for these Coin Collecting Myths

Don’t Fall for these Coin Collecting Myths

August 22, 2019 by Colonial Acres Coins

Last updated on April 15th, 2020 at 07:01 am

Last Updated on April 15, 2020 Posted by Colonial Acres Coins

Coin collecting is an intricate art, and like many similar activities, the industry has its own myths, some of which could derail a coin collector from the path of attaining that envy generating collection. Legitimate Canadian coin dealers will discourage the proliferation of these myths. In other words, a dealer who supports these myths is likely to either be a non-expert or a shady dealer.  Either way that’s not the sort of person you want to be dealing with, especially when it comes to the delicate issue of those precious collectible treasures.

The history of coins goes back all the way to 200BC when they were first made in Lydia. Without knowledge of these myths and the truths surrounding them, you may pass by valuable coins or waste your money on coins that are worth far less than their price. This knowledge could even prevent you from damaging your own precious collection.

A  Hobby for the Wealthy Only

In the eyes of many outsides of collectors’ circles, rare coin collection and study, or Numismatics, is a hobby reserved for wealthy people in the highest class of society. It is true that throughout history it was the very wealthy such as kings and queens who collected rare coins but the evolution of the field means that today pretty much anyone can get involved. It is a great way to diversify your investment portfolio and buyers are free to invest as much or as little as they desire or can afford.

Age and Coin Value

One of the most popular misconceptions about coins is that there is always a direct correlation between age and worth.  The truth is that sometimes coins do increase in value as they age but for some coins, this is not the case at all. It is not age but rather the forces of supply and demand that affect the value and price of a coin. Essentially, therefore, a coin that has more collectors seeking it will attract a higher price than one that is hardly sought after. Of course, this also has a lot to do with mintage. A coin with a higher mintage is likely to be easily acquired and therefore less valuable than one with a lower mintage which will naturally be harder to find.

All that Glitters is… Well Precious

It is easy to get sucked into the misconception that the cleaner and shinier a coin is, the higher the price it fetches will be. This misconception has cost many novice collectors thousands of dollars as in a bid to present a pristinely clean coin, they proceed to cleanse and polish the piece sometimes using abrasive substances and tools. Legitimate Canadian coin dealers will always advise against novice coin cleaning and tell you they prefer to examine coins in their original uncleaned state. A word to the wise, coin cleaning is best left to the experts.

What You See is What You Get

Many people believe that the face value on a coin equates to its real value. Expert coin collectors, however, know this isn’t so.  Some rare coins that were issued years ago with small face values, appreciated over time and have now become priceless, which brings us to yet another misconception regarding the value of rare coins. The idea that a rare coin will always appreciate in value is yet another myth that you need to bear in mind. 

Online Shopping is the Way to Go

It may be more convenient to shop online for most things, including coins. But many unscrupulous dealers hide behind the shroud of the virtual world. When it comes to online investment in precious coins, it is best to stick to reputable Canadian coin dealers like Colonial Acres. 

These and other myths stand between many aspiring coin collectors and their dream of acquiring that perfect collection. The more aware you are of these and other coin collection myths, the more successful your efforts are likely to be.

Filed Under: News Tagged With: Canadian coin dealers

SHOP NOW!

Categories

  • Bullion
  • Canadian Coins
  • Coin Supplies
  • Jewelry
  • News
  • Paper Money
  • Royal Canadian Mint
  • Superman Coins
  • Uncategorized
  • World Coins

Blog Archive

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017

Recent Posts

  • Why Invest in Gold Bullion
  • The Significance Behind the 2022 Peace Dollar Rose Gold Plated Coin
  • Polar Bear $2 Canadian Coin Is the Latest in the “Bigger Picture” Series
  • Learn more About the Royal Canadian Air Force Red Knight Coin
  • Colonial Acres Is Always Buying! Here Are Some Tips When Selling Jewellery
    footer-logo

    991 Victoria Street North
    Kitchener, Ontario, Canada
    N2B 3C7

    Toll Free: 1-888-255-4565

    Tel: 519-579-9302

    Fax: 519-340-1381

    info@colonialacres.com

    MENU

    • Home
    • Sell To Us
    • Auction
    • Collectors Corner
    • Bullion Corner

    ABOUT US

    • History
    • Meet Our Team

    SHOP

    • Royal Canadian Mint
    • Canada Decimal Coins
    • Canada Paper Money
    • Gold, Silver & Copper Bullion
    • Canada Rolls 1960 to Date
    • Deals on Decimal & Paper Money
    • Jewellery

    Read Our Blogs

    STORE HOURS

    Mon - Fri: 9:30am - 4:30pm
    Sat: Click here to see Saturday hours
    Sun: Closed

    MORE INFO

    Contact Us
    Shipping Information
    Terms of Sale
    Privacy Policy

    Facebook Icon | Colonial Acres Coins Click for the BBB Business Review of this TBD in Kitchener ON
    Copyright © 2013 Colonial Acres Coins. All Rights Reserved. Built with Volusion.