Key Takeaways
- Use non-PVC, airtight holders in a stable, dark, climate-controlled space.
- Limit handling; wash hands or wear cotton gloves.
- Store securely in a safe, safe deposit box, or insured depository.
Coin collecting and investing are not just about buying and selling. Any coin collector, investor, or numismatist must understand how to care for and store their coins properly.
Whether you are new to coin collecting or are an experienced collector looking to get more serious about things, it is critical that you know the proper techniques and procedures that will preserve the value of your collection pieces. The guide below is a brief run-through on not only the practices you’ll need to adopt when storing existing coins or integrating new purchases, but also the broader considerations about the different locations and security measures you can take.
Storing Collectible Coins: Best Practices
- Use individual holders. Each coin you own should get its own individual container. When you buy from a reputable dealer, you’ll almost certainly receive your coins in a plastic flip or capsule. However, for any coins that come to you without one, you should buy some flips to remedy the situation as soon as you can.
- Use airtight containers, if possible. Individual holders are great, but airtight containers are better—especially if you’re planning to store your coins long-term. The air and other environmental factors can negatively affect both gold and silver coins, so eliminating them from your collection is a necessity.
- Choose safe materials (no acids or PVC). No matter which casing you use, make sure that you choose a container that does not contain acids or PVC. In either case, the underlying chemicals can leach into your coin(s) and damage it.
- Control temperature and humidity. Coins do not fare well if they are subjected to fluctuations in the immediate atmosphere. Store your coins in an environment with air temperatures between 65–70°F and relative humidity of around 40%.
- Keep it dark. Exposure to light can fade and degrade your coins. Along with storing them in airtight containers with the proper humidity and temperature, make sure they’re also in a dark place.
Handle Your Coins With Care
The best way to handle your coins is not to handle them. You should limit your physical contact with your coins as much as you can due to the potential for contaminants and the oils in your fingers.
If you must handle your coins, the absolute minimum amount of preparation you should do is to wash and clean your hands thoroughly. You should attempt to approach the level of cleanliness reserved for surgeons scrubbing into the OR as closely as you can.
If possible, it is even better that you wear cotton gloves to handle your coins and avoid direct contact.
However, even if you get your hands completely sterile and wear gloves, bear in mind that collectible coins are often made with softer metals—in particular, gold—and may suffer damage even without encountering skin. So, as we first stated, limit your touches on your coins as best you can.
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Vaults, Lockboxes or Safe Deposit Box for Storage
The other major piece of coin storage is the location in which you store them. If you have invested significant amounts of money in your coins, you should take steps to secure your investment away from robbers, fires, floods, and other types of external threats.
Home Vault or Lockbox
The first level of protection is also the cheapest. You can purchase a small vault or lockbox to put your coins behind lock and key. Ideally, secure any storage device of this type to the foundation or otherwise make it a permanent and unremovable feature of your house. However, understand that this method is most susceptible to thieves and natural disasters, so you may want to make a deeper investment in security.
Safe Deposit Box
The next most secure option is to use a safe deposit box at a bank in your area. These boxes offer a level of security that is an order of magnitude above the safe at home. You now have professional guard on your coins, but safe deposit boxes do bear a few downsides. Like home safes, they may not offer protection against natural disasters, and neither option insures their contents.
Private Depository
If you want the most secure option, engage the services of a private depository or vault. These locations are purpose-designed to offer state-of-the-art security on the contents of their clients’ repositories, and many of them insure the items against any damage or theft that might possibly occur.
However, as you may imagine, this option is also the most expensive. Though you should certainly take care to store your coins in a secure location, balance the level of security you require against the budget you have available for storage.
