People collect just about everything you can think of and often in collecting, the thrill of the hunt often overrides sensibility, including how exactly to organize your new addition(s). The organization is imperative when you’re a collector, especially when you’re trying to keep track of items you own, what they’re worth, and what your collection does not have, so you can continue to grow your collection.
In the world of coin collecting, numismatics will usually use one, or more, of these four methods to Organize a Coin Collection:
- Documentation
- Acquisition checklists
- Spreadsheets
- Coin-specific software
Each of these methods has its positives and negatives and no one method is better than another. How to Organize a Coin Collection will depend on your particular needs and goals. In this article, we will explore all the details of each method to help you decide on the best way to organize your coin collection.
Documentation
The easiest way to track your collection inventory is to utilize documentation. This allows you to quickly identify which coins you already own and what types of coins you’d like to buy next. Any collector can create an inventory log in a three-ring binder, where they can make notes on different criteria, which include:
- Year
- Country
- Variety
- Mintmark
- Denomination
- Quantity
- Grade
- Purchase date
- Purchase price
- Updates on the coins value
- Notes/comments
- Date you sold the coin
- Price that was paid to you when you sold the coin
While this may sound simple, keeping accurate notes in your binder will ensure that you have a complete picture of what your collection contains.
Acquisitions Checklists
If you’re a collector that is looking to add specific coins to your collection, you may want to organize with an acquisition checklist. These checklists not only help you to catalog your collection, but they can also be a list for the coins you would like to purchase next.
Acquisitions checklists are not as flexible of an organization method, and they typically don’t have room for you to add in other notes about your coins. Some collectors will supplement acquisitions checklists with another documentation method.
Spreadsheets
Spreadsheets are an efficient organizational method for coin collectors. Excel or Google Docs Spreadsheets allow collectors to add, delete, and categorize their coin collection, allowing for an easy way to search and find any collection information they may need. Advanced users may even write formulas that will allow them the ability to assist in the cataloging.
Coin-Specific Software
Coin collectors who have extensive collections may find that it is more beneficial to organize their collection with the help of computer software meant specifically for coin collectors. There are many different types of software out there and one is sure to meet your specific needs.
When looking for the right software, keep these factors in mind about the software you’re considering:
- How easy it is to use
- How intuitive it is
- Organizational flexibility
- Downloadable pricing information
- The ability to reevaluate prices with the current market
If you prefer to use your smartphone for everything, there are many coin organization apps out there that have current coin collecting information available at your fingertips. Apps are beneficial as they offer collectors a way to help organize a coin collection quickly and easily.
Coin-Specific Software After Organizing
Once you have your collection organized, it is important that you properly care for your coins. The U.S. Mint recommends that you store your coins in a cool, yet dry place to avoid temperature changes. If your coins still have their original packaging, make sure to use it. If you don’t have the original packaging, you can purchase coin-specific holders and albums.
When you handle your coins, experts recommend that you wear cotton gloves to keep from putting fingerprints and skin oils onto the coin. These things can be corrosive and damaging to the coin.
Should You Polish Your Coins?
As a coin collector, you may wonder if you need to polish and/or clean your coins. Experts recommend that you never polish your coins under any circumstances. Mishandling your coins can really damage their value and many methods for polishing or cleaning them will cause more damage than good.
If you feel that you do need to polish your coins, make sure to do extensive research, take necessary precautions, and use lower valued coins as a way to test your cleaning method. Or, you can contact a professional who is experienced in carefully cleaning and polishing coins.
Final Thoughts on Organizing a Coin Collection
Whether you are a new coin collector, or one who has been in the collecting game for years, it is important to take the time to keep an accurate inventory and organize your collection properly. Doing so allows you to see what you have in your inventory and what your collection is worth.
Improper organization or storage can cause your coins to be damaged, which can then affect the value of the coins you worked hard to purchase, which no collector wants to have occur. Instead of worrying about the ways your collection can be damaged, consider these methods on How To Organize a Coin Collection.