I think that I entered the wrong PIN twice but that I now have the correct number. However, I am afraid to try it in case I get locked out after three wrong attempts.
You won't get locked out... the device will simply reset itself, but will be able to be setup again
I have the 24 Recovery Phrases but my question is this:
If I have to use the recovery phrases will the information (coins, tokens) that are stored on my Ledger Nano device be wiped and will I consequently lose my coins.
If you have the 24 word recovery phrase, then you will be able to restore your ledger should you get the PIN wrong a 3rd time and the device resets itself, refer here:
https://ledger.groovehq.com/knowledge_base/topics/how-to-import-slash-recover-a-backup-on-a-nano-s