| by James Halperin
We all like finding easier, less time-consuming ways to do
things. Unfortunately, a swift and sure way for those interested
in coin collecting to effortlessly acquire knowledge has yet to be
discovered. Which is not to say information can’t be rapidly
accumulated; I’ve seen beginners make amazing progress. In every
case, these “fast learners” made a serious commitment and
totally immersed themselves in the quest. Before you hold your
breath and dive in, however, let me offer a few tips on how to
conserve your energy:
1) Read books. To begin, concentrate on general
references instead of specialized texts. One of the best of these
is Walter Breen’s Complete Encyclopedia of U. S. and Colonial
Coins. You can gain an overview of what is happening in the
hobby by devoting equal attention to pure numismatics and
commercial aspects. Great coin collections are not assembled from
pocket change. You must know how to apply your knowledge in the
marketplace.
2) Surf. A dozen years ago I wouldn’t have been able
to suggest that, in addition to reading all you can find in print,
you should spend hours at your computer visiting numismatic
websites. Today, I can. Search everywhere. You’ll discover
nuggets of wisdom where you least expect them. Load your printer
and run hard copies of anything you find interesting. Review the
information you’ve collected, make a list of questions, and go
exploring again to find the answers.
3) Travel. For coin collectors, I doubt there will ever
be a satisfactory substitute for hands-on experience. Field trips
are still required if your goal is to gain the broadest and most
useful education. It’s not a bad idea to leave your wallet at
home, at first. Attend coin shows and coin club meetings, two
efficient ways to gather huge amounts of knowledge in a hurry.
Talk to other collectors and dealers. You’ll be surprised at how
eager some people are to help beginners and answer questions. I
can’t stress enough the advantages of the human resources
available within our hobby. Not everyone with important knowledge
to share has written a book.
4) Resist overconfidence. Remember that a little
knowledge is like a little dynamite: Both can do considerable
damage when carelessly used. So devise ways to measure your own
competence before others do it for you. We all understand that
slight, sometimes hardly noticeable, differences in the grade of a
coin can result in a huge difference in value. Likewise, minor
discrepancies in knowledge often separate the savvy numismatist
from others who only appear to be.
5) Be deliberate. The most common and consistent mistake
new coin collectors make is buying too quickly without carefully
considering their purchases. What’s the hurry? Why do so many
beginners feel they must rush into a hobby intended to last a
lifetime? Every great coin collector I’ve known has learned
patience, often the result of a difficult and costly lesson.
Knowledge is not the same as wisdom, but to fully enjoy your
new hobby you’ll need plenty of both.
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