Video:Learn About Rare Coins

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Transcript:Learn About Rare Coins

Hi I'm Nick Jaynes for About.com and this is an introduction to coin collecting.

Information About Rare Coin Collecting

Coin collecting can be both an exciting and profitable hobby. But for the uninitiated, it can be quite intimidating. Luckily, there are numerous resources for coin collectors. When starting a coin collection, it's important to know what you have. There many books available that outline coin values.

Using the Internet as a Resource for Rare Coins

With an ever-changing market, however, books can quickly become out of date. This is where utilizing the Internet, and local experts, come into play. There are many coin collectors websites but of them all, my favorite is "mycoincollecting.com." It's an active online community for coin collectors with discussion forums and many coin value resources.

Local Rare Coin Collecting Shop

But if you're looking for a more personal touch than what the Internet has to offer, finding a local coin collecting shop can be easy. In Portland alone there are over five coin collecting shops, each specializing in different aspects of coins, coin collecting, and rare metals. But before you drop some serious coin, it’s important to do your research and not to rely on one individual or source. Many people begin coin collections with coins they already have or have inherited. Though it's a great way to start, don't be surprised if your coins wind up being more sentimentally valuable than monetarily.For example, many world war two veterans returned home with Nazi coins. Though interesting to look at, they're relatively value-less.As metal prices rise and -- in the case of gold -- surge, coin values will continue to rise. This is not only due to the rarity of certain coins but also thanks to the metals that they’re composed of.

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