When you are creating your Alt coin list, be sure to include all of the information that is available. Many people make the mistake of only collecting certain coins. This is a huge mistake because you need to have an accurate description of the type of coin you have so that you can buy it correctly. The easiest way to do this is by first learning all of the various categories of coins.
A good coin list will contain several different categories. For instance, there will probably be coins which are collected purely for their value, and there will be others which are collectible strictly for the beauty of them. There are also coins which are rarer than the rest, while others are more common. Then there will be coins in both categories, which you might not have even heard of before. This is a very important step in developing a comprehensive collection.
You should learn as much as possible about the different coins in your collection. You should write down names and amounts as you find them, but keep notes of other important information such as descriptions, minting year, size, weight, and other specifications. Make sure that you study your coins before putting them in the list. This will help you find the coins that you want more easily. You can use your notes to make comparisons as you go through your coins.
Do not just limit your search to the local market. There are many websites that allow you to search by geographic location. If you live in a small town, you probably know many dealers who carry a good range of coins. On the other hand, if you live in a big city, there may be few, if any, dealers who still have a good selection of coins.
Once you have a good coin list in hand, you can then start collecting in that particular market. You should look at each of your coins and decide whether they are worth selling or passing up. It is often best to sell a high-demand coin to a specialized collector. You never know what they will want or need. On the other hand, you might pass up a low-demand coin which could be an outstanding buy for someone else.
When you have decided which coins you want to add to your collection, you should research their values. You can use a number of tools online that will determine the value of your coins. Most dealers will either offer a complete coin list which will include mintage, condition, and value, or a partial coin list which will give you an idea of which coins are in high demand and which are not. You can also find out the value of individual issues of coins by doing an internet search using a search engine such as Google.
Once you have decided what you want to buy, it is time to set a price. You may want to use a base price in which all your coins will be sold, or you can set a minimum price for your coins which will be the maximum amount you will pay to a dealer for each of your coins. Some dealers also allow you to set a minimum spend which is the maximum amount you are willing to spend on one coin. If you are a beginner and are just getting started in the hobby, a lower spend will be more advisable.
The last thing to do once you have a complete alt coin list is to check it against all the dealers you have found. If the prices are different, that could mean that one dealer has marked up the price or there could be some other error. You do not want to sell your coins to a dealer that is marking up the price. Instead you will want to go to those who are offering the lowest prices on their coins.