Do Not Lose Your Coins!

As we all know, rare coins are valuable A commodities. Even if individual coins are relatively common, the total value of your collection/accumulation can become substantial very quickly.

- BY MICHAEL GAROFALO

So, how do you keep your collection secure but still be able to enjoy it? The answers are as varied as you can imagine.

STORAGE

Many people keep their collections in their homes. The advantages are numerous:

You have instant access to your collection.

• You are not dependent on business hours at a bank or other secure location to take possession of them.

• You need to keep them out of direct sunlight (especially for currency) and keep them dry.

. You need to keep them secure, so maybe not showing off your collection makes perfect sense.

You will need to secure them somewhere and many people choose a gun or other type of safe to keep them secure.

But there are disadvantages to keeping them at home as well.

• Theft. Be careful who knows you have coins at home or that you even collect coins.

• Disasters-natural or otherwise. Fire, flood, earthquake, tornadoes, you name it! These natural disasters can ruin or destroy a lifetime of collecting in a matter of minutes.

Overall, keeping your coins in a secure location is the safest way to build your collection. A bank safe deposit box is likely best. Additionally, obtaining insurance on your collection is relatively easy and relatively inexpensive when you keep your collection in a bank vault. The American Numismatic Association is a great organization for collectors to join. Among the dozens of benefits they offer is collection insurance. And it is cheapest when you keep your coins in a bank vault. You can also check your homeowner's policy and obtain a "rider" insuring your collection. Not all insurance companies offer them, but many do.

COIN SHOWS