There is a responsibility attached to owning a valuable coin collection. Whether it is a carefully formed collection that you put together over many years, a casual accumulation of pieces taken from circulation, or something that has been bequeathed, you have a very real duty to carefully conserve and provide for the future of those treasures.
Protecting a valuable coin collection from physical damage or harm is but one aspect of taking care of your numismatic holdings. At some time or other you will have to make a decision about the future of those coins. Are they to be held and made part of your estate? Should they be donated to a museum? Do you want to continue adding to the collection? Or is it time to sell some or all of your coin holdings?
The easiest course of action is to do nothing…. but that usually is the most costly decision. No decision is actually a decision to hold on for a bit longer. In the end everyone must make a commitment to Buy, Sell or Hold. It is inevitable. The question, then, is what is the best course of action for each individual to meet his or her objectives and needs.
Professional coin dealers are trained to help customers with just such decisions. They fully understand current market conditions and the advantages of buying, selling or holding rare coins. They can provide advice about where and how to liquidate a collection. They understand about auction sales, donations, storage and care of all kinds of coins and paper money. If you have such questions, it could pay to call on the services of a professional to provide reliable answers.
The most critical aspect of holding on to a collection of rare coins is paying heed to proper storage. Despite their tough metallic appearance, coins can be easily damaged by careless handling or improper storage. Entire collections have been left worthless because they were not cared for or protected from needless damage. Obviously, coins should not be handled, cleaned or jostled around in any way that would mark, scratch or rub the surface. That can be prevented by normal care and storage in individual envelopes or holders. Then some careful thought must be given to where the coins are being stored.
If your coins are not stored in a bank vault you are going to have to find some very special place for them where they will be safe and secure not only from theft, but from heat and humidity. A coin lost or damaged from any of these threats can never be fully restored. The time to protect your coins is before anything happens to them. Maintaining your collection, and its value, is a responsibility that needs constant attention. Providing for the future of your investment is something that is just as important. Passing a treasured heirloom set of coins on to family members should be a joyous event, not to be spoiled by a caretaker who forgot the rules of Buying, Selling or Holding.