Now that we have covered some of the various ways that precious metals-based coins and bullion can be damaged and how to protect your collection from those outside forces, this article will discuss some of the safest ways to store and display your coin collection.
The Safest Ways to Store and Display Your Coin Collection
There are more coin collecting accessories than ever on the market to protect coins. Everything from coin flips to coin capsules, coin albums, coin pockets, and cases for slabbed holders, there are plenty of options to choose from, but some offer more protection than others.
High-quality coin collection albums, like Dansco or Whitman albums, can be a great way to store your coins. Typically these albums cover a specific series, such as the Morgan dollar, or a defined period for particularly long-running coins like the Lincoln cent. Coin collection albums keep the coins inside them safe without hindering your ability to observe them. They also offer some unique options when it comes to storage. Since they’re similar in size and shape to a mid-sized hardcover book, they can be stacked easily or even placed on a sturdy bookshelf.
Coin capsules are another very popular choice. They are made to have an exact fit, so be sure to purchase the right size. A capsule will only protect one coin, unlike an album. However, some coin capsules can be stacked and all of them are very easy to store since they’re only slightly larger than the coin itself.
Coin flips are a classic choice. Typically, these are made of cardboard with a layer of either vinyl or Mylar. Beware of any that may contain PVC, which is highly corrosive to most metal alloys. Coin flips are also commonly referred to as 2x2s.
If you want to display a specific coin or set of coins, then a high-quality album or a coin display case might be right for you. Take your time when you’re looking, there are plenty of options to choose from.
Remember – Avoid Humid Locations
Humid air can lead to coin damage as most precious metals will negatively react to exposure to water and will begin to oxidize leading to toning.
Both copper and silver experience chemical reactions when exposed to high humidity levels and the water vapor associated with it, while pure gold, is not as vulnerable. It should be noted that most, but not all gold coins, are alloyed with an alternative precious metal to strengthen it, and these other metals may adversely react to humidity. While oxidation and the resulting toning of a coin is the primary concern, mold can also grow when high levels of water are present in the air, which is especially a concern for paper money collectors.
To avoid damage from humidity, it is recommended to never store coins in places that experience high humidity, like a kitchen, laundry room, garage or attic. There are also certain steps you can take to reduce humidity levels wherever you do choose to store coins like placing a de-humidifier, which will suck water from the air, or even using silica gel packs or crystals which do the same.
Choosing the Right Coin Collecting Supplies
It should come as no surprise that there are many products designed to make protecting your coin collection easy. Coin storage is something everyone needs to consider for the long-term condition and value of their collection. No need to worry though, the right coin-collecting supplies make this a breeze.
If you’re stacking bullion, then you’ll definitely want to look into coin tubes. While new bullion coins and rounds are usually packaged in tubes when you’re buying in quantity, it’s nice to have a few extra coin tubes around for miscellaneous pieces that just happen to be the right price at the right time.
Whether you favor collectible coins or bullion, it’s a good idea to get a high-quality loupe. This convenient little magnifying device will allow you to see details more clearly. Whether you’re looking at a collectible coin or a bullion piece that’s a little marked up, your loupe is going to come in handy often.
In addition to a loupe and coin tubes, it’s also worth keeping some spare coin capsules around. Since these are made in specific sizes for a precise fit, it’s best to buy a few extra of each size that you need. You may also want to pick up some silica gel products to keep near your collection if your storage area tends to have extra moisture.
How to Insure Your Coin Collection
Depending on your preferences and which coins you add to your collection, it may be appropriate to insure your coin collection. The idea is simple, just find a policy that’s right for you and your needs and then hope that you never actually need it. However, no one can say exactly what might be in store for the future, so it’s just best to have a policy in the event of a worst-case scenario. Insurance for coin collections does exist, and we’ll cover the basics of it here.
Protecting your coin collection doesn’t stop with making sure that everything is stored properly and securely. The next step after that is to decide if an insurance policy is an appropriate way to increase coin security for your circumstances. In the event of a disaster, it may be the simplest way to remedy any losses to your collection.
It should be noted that while some homeowner’s policies do offer a bit of coverage for coins and bullion, the amount of coverage is typically trivial and valuable collections would be better protected by their own specialty policy.
Insurance for coin collections is available through many companies. There are even some companies that specialize in insurance for collectibles. Coins can be insured regardless of where you keep them, although that can factor into the price of the policy.