to pounce when your coin finally appears. Never assume that a coin is locked away forever. Who ever thought that Johns Hopkins University would sell off the Garrett collection? Who suspected that I’d ever have a chance to bid on coins from Byron Reed’s collection or from the Joseph C. Mitchelson collection, or more recently, the fabulous D. Brent Pogue Collection in 2016? I simply don’t know what neat collections lurk around the corner. But the fact that strong hands have sold their coins in the past gives me hope that others will do the same in the future.
Chapter 4
Storing Your Collection Correctly
IN THIS CHAPTER
Assuming that it stays in circulation, an average coin lasts roughly 30 years during a regular journey from the time it’s minted to the day it wears out completely. Check the change in your pocket to see how much money you have dated before 1970. You likely won’t find very many coins, if any. Over the years, coins are damaged, lost, worn out, burned up, corroded, or dirtied, or they wind up in piggy banks and coin collections.
Given proper protection, a coin may last forever under perfect conditions. So although you may think you own the coins in your collection, you’re really just taking care of them for the next owner. By protecting your coins today, you benefit from the preservation of their value for yourself and future generations, just as you’ve benefited from the efforts of the collectors who came before.
The three most important things you can do to preserve your coins are
Protect them.
Keep them safe.
Keep them dry.
In this chapter, I show you how.
Holdering Them the Right Way
Choosing the right holder is an important first step in your collecting plan, because the cost of holders can be quite high, especially if your collection becomes large. Many types of holders and accessories are available for protecting, storing, and displaying your collection. Some holders are meant only for short-term storage and may actually harm your coins over long periods. Surprisingly, I’ve learned that some holders — the very ones that are supposed to protect your coins — are made with chemicals that attack and damage them. Other holdersare perfect for long-term storage and careful preservation of your numismatic treasures. Here are your options:
Cigar box (stogie storer): Inexpensive (unless you smoke high-priced stogies) and great for beginners, but lacks a certain level of sophistication and panache.
Paper envelopes: Traditional and inexpensive. A variety of sizes are available at your office-supplies store. Coin dealers sell small (2x2-inch) paper envelopes made for coin collectors (see Figure 4-1). You can write information about the coin on the outside of the envelope. Colors allow you to code your collection. Sulfur-free versions are excellent for long-term storage. The sulfur used to manufacture paper causes coins to tarnish, although today, most of the envelopes targeted to the coin market are sulfur-free. Another potential disadvantage of paper envelopes is that you can’t see the coin inside without opening the holder and disturbing the coin.FIGURE 4-1: Paper envelopes for storing coins.
Cardboard 2x2s: Inexpensive, starting out as 2x4-inch sheets of Mylar (clear plastic film) glued to card stock containing two holes of identical size (see Figure 4-2). The coin is placed on the Mylar, and then the holder is folded over and stapled together. Some cardboard 2x2s have a layer of adhesive that seals the holder and eliminates the need for staples. Coins are easily viewed through the Mylar windows. This option is excellent for long-term storage (except in areas of high humidity) as long as the Mylar film remains intact. If I had a dime for every coin destroyed by a staple, I could vacation in Bermuda for a week. Be careful when stapling the holder; make sure not to hit the coin. Also, be very careful when you staple the holder, and crimp the staples to make sure that they don’t damage the coins in other holders. Removing coins from cardboard 2x2s must also be done carefully so as not to scratch the coins.FIGURE 4-2: Cardboard 2x2s for storing coins.
Vinyl 2x2s: Inexpensive and great for handling and viewing coins. Also known as flips, these 2x4-inch holders have two pockets that fold over to a convenient 2x2-inch size (see Figure 4-3). One side holds your coin; the other is a card on which you can place a description. There are many online sites devoted to the preservation of coins. This method of storage is known widely as Saflips. There are a few optionsfor placement of your coins in these Saflips.I have a difficult time getting the harder flips to stand up in a row inside a box. The softer, vinyl flips don’t seem to have this problem. Excellent for short-term storage. Used by most dealers and auction houses as a convenient method of displaying, protecting, and shipping coins.FIGURE 4-3: Vinyl 2x2s for storing coins. Some vinyl flips are made with PVC, a chemical that can leach out over time and damage your coins. Therefore, this kind of holder can’t be used for long-term storage. Certain brands are made without PVC, but this causes them to become brittle and crack.
Hard plastic holders: Expensive and cumbersome to use. These holders consist of three layers of hard plastic — one to hold the coin and two outer layers for protection — all screwed together (see Figure 4-4). Often custom-made, the holders are available in a variety of sizes and colors for individual and multiple coins. Custom printing may be added to these holders to identify the coins. The plastic layers are essentially inert (don’t react chemically with the coins), so they’re perfect for long-term storage. Hard plastic holders are attractive and offer clear views of both sides of the coin. They’re used by collectors for expensive coins that they plan to keep for some time.FIGURE 4-4: Hard plastic holders for storing coins. If the diameter of the hole isn’t perfect, the coin will shift around in the holder, thereby exposing the coin to abrasive movement. If the hole is too small, it must be enlarged by hand, often resulting in an amateurish appearance, and some air and moisture may seep in through the sides.
Slabs: Expensive, but the best option. The cost of slabbing a coin can range from $10 to more than $100, depending on the company you used and the level of service you choose. Slabs are the hard plastic cases used to encapsulate coins graded by independent certification companies (see Figure 4-5). A small slip of paper sealed in the holder identifies the coin and shows the grade assigned to it. These holders are excellent for long-term storage; they offer the tightest seals of all holders, and some are said to be watertight and airtight. Some slabs include bar codes on the internal labels for convenient inventory control via a bar-code reader, a database,
