How to Store Coins Safely

Storing coins safely is essential for preserving their value, especially for collectors and investors who deal with precious metals or rare numismatic pieces. Improper storage can lead to damage, such as tarnishing, corrosion, or physical wear, which can significantly diminish a coin’s value.  

The Importance of Proper Coin Storage

Coin collecting and investing require more than just buying and holding. Proper storage can make the difference between maintaining a coin’s pristine condition and watching it degrade over time. Coins are susceptible to environmental factors such as humidity, temperature, and air pollutants. Even the oil on human skin can negatively affect the coin’s surface, leading to oxidation and discolouration.

Proper storage can lead to tarnishing or corrosion of valuable coins, especially those made from precious metals like gold, silver, and platinum. This is particularly important for numismatics, where even minor imperfections can impact their market value.

Environmental Factors

The environment where you store your coins plays a significant role in their preservation. Many of the issues collectors face with coin degradation stem from exposure to poor environmental conditions. 

Here are the key factors to consider:

1. Humidity: Moisture in the air is one of the most damaging elements for coin storage. High humidity can lead to oxidation, tarnishing, or even corrosion in some cases. It’s important to store your coins in a controlled environment with humidity levels below 50%. A dehumidifier can be an excellent investment for your storage area, especially if you live in a particularly humid climate.
2. Temperature: Extreme temperature fluctuations can cause metals to expand and contract, which might result in cracking or physical wear over time. The best practice is to store your coins at a consistent temperature, ideally between 65°F and 70°F. Avoid attics, basements, or garages where temperatures can swing wildly from day to night or season to season.
3. Air Pollutants: Airborne particles and pollutants such as sulfur can tarnish metal coins, especially silver. Storing coins in airtight containers reduces exposure to the surrounding air, and using silica gel packets in your storage containers can help absorb any residual moisture that sneaks in.
4. Light Exposure: Prolonged exposure to sunlight can fade or discolour some coin materials, especially coins with patinas or special finishes. Storing your coins in a dark, cool place will protect them from light damage.

Materials for Coin Storage

Choosing the right materials for coin storage is crucial. Some materials can react with the metal, leading to chemical reactions that damage the coin over time. Let’s explore the best and worst materials for storing your coins.

Best Materials:

1. Airtight Holders and Capsules: Airtight holders and coin capsules are highly recommended for storing individual coins. These holders protect your coins from environmental pollutants, moisture, and physical damage. When using these holders, ensure they are made from inert materials like Mylar, which does not react with the metal in coins.
2. Mylar Flips: Mylar is considered one of the best materials for coin storage as it is chemically stable and doesn’t contain harmful additives. Mylar flips provide a flexible way to store coins individually and are especially useful for viewing the coin without touching it.
3. Coin Tubes: For bulk storage of coins, coin tubes are a popular option. However, ensure that the tubes are made from inert plastics like polyethene, which won’t react with the metal over time. This type of storage is ideal for modern coins that you plan to store long-term, especially bullion coins like American Eagles or Canadian Maple Leafs.
4. Silica Gel Packs: Including silica gel packs in your storage containers or safe deposit boxes is a great way to maintain low humidity. These packs absorb moisture and prevent oxidation, especially in airtight containers.

Materials to Avoid:

1. PVC Plastic: Polyvinyl chloride (PVC) is commonly found in cheaper coin flips or storage sheets but harms coins. Over time, PVC emits a gas that reacts with metal, causing green or yellowish corrosion, commonly known as “PVC damage.”
2. Cardboard Holders: Cardboard coin holders often contain sulfur or acids that can tarnish coins over time. While they might seem convenient, they do not offer the same level of protection as Mylar or polyethene holders.
3. Paper Envelopes: Paper may seem harmless, but it often contains chemicals like sulfur that can damage coins. Over time, the paper may also deteriorate, leaving residue on the coin.

Best Storage Options for Your Coins

Depending on the value of your coins and the length of time you intend to store them, several storage options are available. Here are some of the most effective ways to safely store coins:

Home Safes:

For casual collectors or those storing lower-value coins, a quality home safe can provide excellent protection against theft, moisture, and temperature fluctuations. Look for a fireproof and waterproof safe that offers an airtight seal.

Safe Deposit Boxes:

For higher-value collections or investors with substantial amounts of gold or silver coins, a safe deposit box at a bank offers higher security. It ensures that your collection is protected from theft or natural disasters like floods or fires. However, remember that humidity in safe deposit boxes may still pose a risk, so placing coins in airtight containers with silica gel packs is recommended.

Third-Party Storage:

Some coin investors and collectors opt for third-party storage solutions such as vaulting services from precious metals dealers. These facilities are highly secure and climate-controlled, making them ideal for long-term storage. However, third-party storage usually comes with annual fees, so factor this into your decision-making process.

Handling Coins Properly

Even with the best storage practices, improper handling can lead to damage. When handling coins, always wear cotton gloves to prevent oils from your skin from transferring onto the coin’s surface. If you need to handle a coin directly, do so by holding the edges and avoiding touching the face of the coin, as this is where most damage occurs. For cleaning coins, it’s generally best to avoid cleaning altogether unless done by a professional, as improper cleaning can leave scratches or alter the coin’s surface.

Protecting Your Coin Collection for the Future

Proper storage is vital to maintaining the value and condition of your coin collection. By controlling environmental factors like humidity and temperature, using the right materials, and choosing secure storage options, you can ensure that your coins retain their value for years to come. Whether you are a casual collector or a serious investor, taking the right steps to store your coins safely will pay off in the long run. Protect your collection today so it can be enjoyed by future generations or sold for maximum value when it comes.

Whether you are new to gold investing or have been a collector for years, it is essential to research and work with a reputable dealer. American Bullion is a trusted resource for those looking to invest in gold IRAs, offering a wide selection of gold coins from around the world and expert guidance on which coins are right for you.

So why wait? Invest in gold coins today and start building a brighter financial future.