Collecting rare gold coins can be an exciting investment opportunity, as well as a fun hobby. But like any other hobby, weird terms like “strike” and “date run” get thrown around, and it can sometimes be a little intimidating getting started. At Austin Rare Coin, we’ve been in the business for a long time, long enough to know that there’s nothing scary about collecting certified coins.

To get you going, enjoy a few more helpful tips about certified coin collection.

• A smart financial advisor will tell you that diversification is what helps you to have a strong portfolio. Diversification means not just investing in one program or strategy. The same can be true with certified coins. You don’t have to just stick with gold. Silver certified coins have value, but their value is determined in a radically different way. Since silver has far more industrial applications than gold does, its price has more to do with industrial demands. Gold pricing is affected by factors like interest rates, the current value of the U.S. dollar, and economic and political current events.

• The value of a particular coin won’t matter much if it’s determined that the coin is a fake. Counterfeit coins have been flooding the market in recent years, which is why the smart play is to buy coins from reputable dealers that can provide authenticity. Is it possible you’ll find something amazing at a flea market? Sure, but we wouldn’t bet on it.

• Want to be a successful investor in certified coins? Think long term. The best way for a gold or silver coin to reach its potential is by being held for a long time. When buying a coin, come to terms with the fact that you’ll be smart and hold on to it. In this case, patience can be profitable.