Getting into coin collecting is pretty easy. Most people collect different coins from around the world and are pretty happy with what they’ve got. But for some, coin collecting is much more than that. In this case knowing your coins and coin values is a must.
Collecting gold coins and silver coins is actually the easier end of collecting precious coins. All you have to do is watch the precious metals market and buy or sell depending on that. Apart from this, knowing a little more about the coins you are buying will help you value it some more and make you more money during a sale. But collecting rare coins is a different ballgame altogether.
Rare coins require the collector to know exactly what they are doing. If you only have a very basic knowledge of these coins, you will very likely get fleeced if you try to buy them without any help. Other times you will get scammed when someone sells you a worthless piece of junk which looks very authentic. For example, american silver eagles are reproduced in almost flawless detail and sold to unsuspecting amateur collectors. So you may think that you have an amazing addition to your collection (which you bought at an amazingly low price or not), but in reality all you have is just a piece of metal.
Deal only with reputed coin dealers to avoid scenarios like this. You should also spend as much time as possible, learning about rare coins and how to spot fakes.