Want to collect fossils? Here’s what to know.

High-end collectors are best known for acquiring fine art, jewelry or wine, but some are just as excited to get their hands on a Tyrannosaurus Rex. Fossil collecting grew popular in the 19th century, before interest plateaued. When Jurassic Park premiered in 1993, the film fueled a resurgence in the desire to own dinosaur bones and other fossils that continues today. With supply inherently limited, average sale prices for fossils have been on the rise, even as ethical debates about the trade heat up. Those who want to get in on the trend should start by learning about the market, doing their due diligence and protecting their collections. 

Fossil collecting has always been a niche pursuit, but it’s here to stay. The pastime appeals to science and history buffs, to business leaders and celebrities who want to make a statement with unique pieces, and to people who have been passionate about dinosaurs since they were kids. Ethical debates have surfaced about whether private collectors should own fossils at all, or whether they should remain in public hands and available for scientific study; others have critiqued removal of relics from developing countries or indigenous land. As a result, the market is becoming more transparent about sourcing.

A lucky few stumble across great finds, but most fossils are retrieved by professional excavators who know where to look and how to preserve them. In the U.S., most specimens are concentrated in the West: Colorado, Montana, South Dakota and Wyoming. Other deposits are located in the Canadian Rockies, China and South America. Fossils come in all shapes and sizes; types range from matrices, which are remains of organisms preserved in slabs of rock, to teeth or skulls displayed in glass to pterodactyl skeletons suspended from thin wires. These days, auction houses and other dealers sell some low-value items online, but many collectors prefer to start with digital research and view items in person before buying.

If you’re passionate about fossils and want to build your own collection, here are some tips for getting started: 

• Buy from reputable sources
  Acquiring fossils from questionable sources brings risk. In those situations, there is often an elevated risk that the item will be a fake or may have been obtained by the seller from an illegal source. Buyers may face challenges establishing authenticity when selling an item or getting it appraised, they may have trouble getting insurance on the item, or may become involved in litigation over ownership of the item. Buyers should work with established  dealers, galleries and auction houses that can confirm a piece’s provenance. If you take the risk of buying on the private market, get proper documentation and ensure that the item isn’t contested. 

• Work with a team of specialists 
  Work with experts in the field all along the journey. If you’re commissioning digs, enlist an experienced excavator who knows how to keep specimens intact. Consult specialists who can help you understand the market before you make a purchase. Hire certified appraisers and insurance brokers who understand the fossil market, as well as shippers, conservators and security companies who have experience dealing with fossils. Taking these steps helps ensure that you’re making a good investment and retaining its maximum value.  

• Start with an entry-level piece
  Before shelling out for a large specimen, get your feet wet with a lower-value fossil. Megalodon teeth or fossilized fish skeletons, which can cost around $1,000, are good starter pieces. They’re relatively inexpensive, easy to find, sturdy during transport and compact to display. You are unlikely to run into legal challenges, and many are even available online. 

• Use proper transport, care and display techniques
  Fossils can easily break or sustain damage if handled improperly. Don’t go the DIY route or hire generalists; work with professional fine art shippers and installers who can wrap, pack and ship items safely. Specialized handlers and installers can help with proper placement and custom mounts for fragile fossils, especially for large and complex types. Work with a trusted security company and window specialists to install central fire and burglar alarms, automatic water leak shut-off devices, ultraviolet blocking film for windows, temperature and humidity sensors and other risk mitigation measures. When items aren’t on display, keep them in vetted fine art facilities that store items at least 3 inches off the ground, use proper climate controls and have an emergency plan in place.

• Get the right insurance
  General homeowners insurance is not enough to cover valuable fossils. Look for carriers that provide worldwide, all-risk coverage under a valuable articles collection policy. The best policies include no deductibles, automatic new acquisition coverage, item and blanket coverage options and inflation protection. Your independent broker or agent can find coverage using a recent sales receipt or recent appraisal completed for retail replacement value. 

Fossil collecting can be an exciting way to follow your passions while preserving historical artifacts and diversifying your investments. Enthusiasts who are just diving in may want to start small, source through reputable channels, work with specialists and ensure they’re taking measures to protect their collections. By following best practices, collectors can be responsible stewards of natural history.