One of the greatest and most preferred types of hobby is collecting. It is one form of hobby that entails the acquisition of certain items, particularly those that have value especially as it gets older.
By the time the passion for such collections grows deeper, the profit earned on such coins, stamps and currencies collection will entail you into more of business & trade. And as soon as they start collecting money, they finally realize the extent of income-generating potential of their collections, and so, they convert their stamp and coin collecting hobby into a more profitable endeavour.
Most people may know that collectible rare stamps have high price tags. The field of rare stamps is probably one of the fields that are not going to get affected by any economic crisis, no matter how harsh it may be. That’s the best part about rare stamps, they can never depreciate. The reason why this happens is because, the number of rare stamps is limited, so with the increasing number of collectors and intermediaries, there are not enough to go around. Therefore, we can easily observe that the demand is completely outweighing the supply. The larger the demand, the higher the prices get on rare stamps.
Buying 200 or 100 years old stamps is not the only way to make a stamp investment. Well versed stamp investors prospect various countries around the world that foresee economic growth in the long term. Investing in rare stamps will get you an annual return of at least 12%.
In order to ensure safety in every transaction, here is a list of some tips that every Stamp, Coins –Currency collector should know before engaging into a trade:
2. Verify the state of the coins and the stamps
3. Learn to spot a good item from the bad one
Many collectors start by checking a note's year of printing. The year of printing is called the series, meaning when the design of that particular note was authorized for printing as legal tender. Serious collectors quickly learn that the better way to find the true age of paper money is to check the signatures.
People also think that Collectible Currency values rise if the money is quite old, and if the paper has few signs of wear and tear. What matters most instead is how rare the note was when it was first created. Collectors can't stress enough that it's currency's original rarity and the rate at which rare notes survive that determine their value.
Collectors are encouraged to describe their currency based on precise factual observations. For instance, it's better to note how many folds a note has, or whether its corners are torn. Descriptions such as these are far more likely to gain the respect of other collectors who may be interested in purchasing the currency.
Ultimately, the primary factor in assessing collectible currency values is this: If the note is rare when it's printed, it's valuable.