Whether you are just starting out on your very first 5 dollar gold coin collection or you are a veteran at hunting for the best deals on these gold coins, you must learn how to properly care and store your collection. After all, each of those gold coins is an investment so that you have to practice proper care and maintenance to get the most out of it.
But here’s the catch, did you know that you are not actually recommended to clean your coins? After buying them, the best thing you can do is leave them as is. It common belief among coin collectors that coin collectors that cleaning the coins with any type of cleaning product or method can cause some damage to the surface of the coin so that the value of your 5 dollar gold coin may actually depreciate if you clean it. Weird, isn’t it? But that’s how it is.
Still, if you feel you must clean that 5 dollar gold coin, then there’s certainly little we can do to talk you out of it. It is important to keep the following tips in mind when cleaning any gold coin.
1. Do not use abrasives. Most metal polishers contain abrasives which may cause permanent damage to the surface of your 5 dollar gold coin. There are available special cleaning products made for coin cleaning. You may also want to use vinegar, lemon juice, ammonia, or rubbing alcohol.
2. Do not rub. Aggressive rubbing may cause scratches as well as wiping the coin after cleaning. As gold is a relatively soft metal, it can sustain scratches even if you are using soft cloth. Using a hair dryer or a steam cleaner may still leave patchy drying marks on the surface of the coin.
3. You can use soap or detergent, and water for cleaning the coin. If you have a particularly dirty 5 dollar gold coin, you can let it boil gently in a pan of soapy water. Do not let the pan boil dry or you may have an irreparable situation on your hands with the coin turned black and the burnt soap residue on it.
4. If your 5 dollar gold coin has a stain, you can use acetone or nail varnish which can remove most stains, such as those left by adhesive tape.
5. Gold coins do get rust not because gold have the capacity to oxidize but rather as a result of improper and careless storage. Gold coins may have been kept in steel boxes or safe deposit boxes which, in turn, were stored in humid conditions, the box may have rusted and the coins may have been tarnished consequently. You can use almost any acid to remove the rust, even weak ones such as vinegar and lemon juice.
6. You may apply a coat after cleaning the 5 dollar gold coin. Dry it for a couple of days and then wipe the still moist areas with soft cotton balls.
7. After cleaning, it is best to keep the coin in an airtight place. You can store it in a coin collection album. This will enable you to look at your coins closely without having to take them out to lower the likelihood of damaging your 5 dollar gold coin. You can then store this in a safe to be hidden somewhere in your house or better yet put it in a safe deposit box to avoid unpleasant encounters with thieves.
As mentioned before, as much as possible, do not clean your gold coins. You may be doing more harm than good if you continue with your plan on cleaning that stubborn little reddish spot on your 5 dollar gold coin. You may cause some permanent scratch on it especially if you haven’t tried cleaning a gold coin before.
As a coin collector, you must know how to properly care for your coins. They are investments, however, unlike a house which you clean and repair as much as needed, a 5 dollar gold coin is better left to its dirty and a little greasy state.
A Selection from the National Numismatic Collection