All About Coin Collecting: Grade Coins with Ease! Coin collection is not just about having as many coins as possible. More important than the number of coins is the quality of those coins. This quality is measured by the coins’ grade and the grade is measured using a scale from zero to seventy (seventy being the highest point grade). Doctor William Shelby introduced this point scale in his work “Penny Whimsy”. Here are the classifications of coins according to grade. 1. “Mint State” Coins This is equivalent to a value of 60 to 70 in the Shelby’s grade scale. This means that the coin has no blemishes whatsoever. Most of the coins in this category are uncirculated, shiny, new coins, with absolutely no signs of wear. 2. “Almost Uncirculated” Coins The “Almost Uncirculated” coins have a point grade of 50, 55, or 58. It is very important to note that in these coins, coin collectors must know the locations of the high points in a particular coin. By checking the difference of the light reflected in the high points to the other parts of the coin, an “Almost Uncirculated” coin is separated from the Mint State coins. 3. “Fine Coins” These can further be classified as” Extremely Fine” (40, 45), “Very Fine” (20, 25, 30, and 35) or “Fine” (12) depending on the sharpness of the remaining details on the coins. The coins are observed to have wear but the designs are still intact. For “Extremely Fine” coins, the mint luster is still present. “Very Fine” coins can be compared to coins which have been used for 1-3 years. Minor features of the coins are already gone. 4. “Good Coins” These coins can be specifically defined as “Very Good” (12), “Good” and “Almost Good” coins. The coins in this category are worn out. Only weak designs can be observed since the details of the coins in the high points are nearly smooth. Full rims must be observed for the “Very Good” coins category. In the case of “Good” coins, the mint mark and the date must be visible. On the other hand, “Almost Good” coins are the most worn of coins in this category. 5. “Fair Coins” The coins are “worn out”, but can still be distinguished as belonging to one of the types of coins - as long as one can identify a coin, it is a “Fair C”. 6. “Basal Coin” These metals that can be determined to be coins - but the kind of coin are undeterminable. With the classifications described, it will be very easy to grade coins. Just remember that knowledge of the coins’ grades gives coin collectors advantages!
Keeping Coins Clean Using a Folder The price of an antique item goes up if it is kept in good condition. By having it stored in a safe place, one can be sure that it will not be damaged by the elements or by negligence that will reduce its value in the market. Coins are easy to take care off. For those who have been doing this for years, such collections are usually framed or under glass and are often seen in places such as a large museum. But to individuals who are just starting out, putting it in an old shoe box or jar will do. Later, when the collection is larger, it is time to invest in a coin folder that would better protect and hold the coins. These folders can be bought in different sizes depending on the type of coins the individual is collecting. The coins can be stored in individual plastic pockets or in sheets that make up the album. They are available at the local coin store or can be ordered from the web. The advantage of using these is that they are handy to carry around make it easy for the person to show. These can be brought to exhibits and other venues where the coins can be traded, sold or exchanged with coins that other people may have. Keeping the coins in mint condition does not only mean storing them in a folder. Whenever the person adds a new coin to the collection, it is ideal to first have it cleaned before putting it in with the others. This can be done by taking it to a coin shop and paying for the services, or if you prefer to do it yourself, is by soaking it in a liquid such as vinegar, rubbing alcohol, lemon juice or ammonia which is sure to remove any dirt or encrustation that are present when it was acquired. They should then be air-dried or patted dry with a soft cloth. It is not a good idea to rub or polish the coins since scratches can occur that may decrease its value in the market. Serious coin collectors value the importance of storing these valuables in a safe and secure area. By investing in a coin folder, the person can be sure that the value of the coins will go up either when the demand calls for it or when there is a need to part with them.
$10 Million Worth Of Pennies Can you imagine carrying $10 million in pennies? Well maybe if you had the coin collection that was recently sold in Long Beach, California, it wouldn’t be so difficult. 288 pennies brought that $10.7 million in an auction. The collection consisted of 301 rare, early American pennies. Often referred to as "large cents", these antique copper coins are about the size of today’s quarters. They were minted during the time of George Washington and Thomas Jefferson, roughly 1793 to 1814. At the end of the auction, there were 13 pennies left. These remaining coins were expected to be sold within a week of the auction. The auctioneers were as surprised as the collection owner at the prices the coins were bringing. Two 18th century pennies broke the record for the highest price received for a rare penny. A sweet price at $632,500. Hopefully the new owner feels like he got his 2 cents worth. Other coin collectors had been waiting decades for these coins to come back on the market. The pennies are well known, and the owner had been holding onto them for years. The auction officials said a sale like this one happens once in a lifetime. The turn out was exceptional. About 200 collectors were there with hundreds more placing their bids over the phone and on the internet. The collection owner guesses he had spent a little over $5 million on the pennies, so that was a nice return on his investment.
Coin buying 101 There are various sources where those “special coins” can be purchased. The following are the basic methods and starting places to obtain the coin(s) you have long wanted. Go local Coin shops are plentiful in most states. Generally your local area or city will have coin shops which you can visit to see if they have the coins available that you want to add to your collection. Most of these coin shops are located in the larger town or cities. Better yet, use your local phone book and start walking those fingers through the pages to find out where the nearest coin shop(s) is located... These shops provide coin collectors the opportunity to actually examine or scrutinize the coins that interest you. Fortunately, these coin shops are also replete with experts and coin lovers who share your passion and can offer their valid judgment on a particular coin’s grade or value. They can also offer helpful tips as well as advice. Local coin shops may sometimes have a limited stock or collection of coins and the price they offer them for may be a little bit higher than usual. This scenario usually applies to collectors. Auctions for coins There are also auctions specifically for coins. This method is a very effective – if not excellent – way to purchase coins. It is extremely important that prior to attending an auction you know the procedures and rules that apply. There are various types of auctions; bidding auctions via mail, internet, as well as auctions conducted by phone. Always be aware and wary! It is important to make sure that you set a fixed price on the coin you are about to bid on. Auctions can turn very emotional and aggressive. Practice discipline and try not to bid more than the ceiling price you have set for yourself. Buying coins by mail This method is a very convenient and inexpensive way to purchase coins. Most dealers that transact via mail usually have overhead costs that are low so they are able to offer similarly low prices on coins they sell. Do not forget to thoroughly inspect a particular dealer’s policies before returning an item. Make sure that once you receive your coin, immediately inspect it for authenticity or damage. The coin you must have must be just as you ordered and what you expected. In summary, coin buying is not difficult. All you need is to research and look for the best product available.
The coin-price is right There are many resources that can help coin collectors, old or new, in determining the value and worth of the coins they have. There are books out, “The Red Book” (A Guide Book of US Coins), “The Blue Book” (A Handbook of US Coins), as well as coin newsletters and catalogues available at any public or private library, coin dealers/shops anywhere in the US. There are also online guides for the prices of US coins available on the web, specifically the NumisMedia site. For a synopsis of the price of each coin, the following are the basic values of each cent, penny, or dime in the market. The United States wheat-cent, the circulated ones The price of these coins made prior to 1958, or those that are dated 1940, are currently being purchased by coin dealers for two cents each, or less. Those made before 1940 command a much higher price - from a few more cents to a few dollars. The silver-dollars Silver-dollars from the US, especially those made before 1935, have almost an ounce of silver in them. These coins are the favorites of coin collectors and could be sold for more than their actual value in silver if they are undamaged or not worn severely. The dollars of Susan B. Anthony If by luck you happen to get one of these as a change, the value is more than a dollar and proof Susan B. Anthony dollars command even more. They are not easy to fine as they are not usually being circulated. Quarters, dollars and halves – the bicentennial kind There were billions of these coins made out, and because there are so many of them, their worth is usually just face value. There are coin dealers however who pay ten percent of the face value as premium for circulated bicentennial coins, and a few dollars more for those that are uncirculated. A freak coin Believe it or not, there are two-headed coins out there. Basically, these are coins with two different designs on each face. These coins were made in error and mistake was not discoverer until the year 2000. This type of coins is usually called “mules”. In 1999, it was found that a cent with Lincoln’s face on one side and Roosevelt’s dime image on the other existed. It you find a coin of this it must be taken to a legitimate coin dealer and assessed to determine if is genuine. If so, this coin could be put up for auction and command a few dollars more. It is therefore true that a coin is basically worth more than meets the eye.
Tips on How to Avoid Fraud on Collectible Coins Many people enjoy shopping online where there are great buys of coins that can be found. A person may prefer do his shopping while he is at home because it is convenient and time-saving instead of going out looking for stores that sell collectible coins and other souvenirs. A person can differentiate between a live auction and an Internet because an online auction can take several days to complete. They entertain bids for the highest price up until the time the auction is about to close.. Many people that are bidding online enjoy the experience and they may be familiar with the strategies to use to win an online auction. There are also online sites where a person can buy any item that may capture his interest. This is where most coin collectors purchase their desired coins. By searching and finding the item that they want, they can actually negotiate and make the payments through the Internet. This can be very risky as you are dealer/seller that is unknown to the buyer, yet many people are still making transactions and payments through this kind of online auction. Fraud is common even though many Internet sites that do business online contend that the risk of fraud is not something to worry about. They contend that only 0.0025 percent of true cases of fraud occur with online transactions - that means only one out of 40,000 listed Internet transactions would be fraudulent. On the other hand, the FBI has their own investigations, which prove that those figures are not true - they contend that the risk of fraud is much higher according to their statistics. A person should believe the FBI for his own protection. Even if one can say that the majority of online coin selling transactions are honest and credible, the process used to make the transaction most probably is questionable and uncertain. There are business transactions, which are intentionally committing fraud with their clients and buyers. Aside from flea-market dealers, mail-order sellers, in-person auctions and some coin stores, the Internet has introduced the crime of fraud to many people in the easiest way possible. One protection that a coin buyer should know is how to get “feedback”; that way, a person can see the ratings other bidders give the seller and he may compare his transaction with the transaction of the others. Since there is a great risk of fraud where there is negative feedback, the person may withdraw his participation from the auction if he deems that to be necessary. A person may also acquire ideas by looking for those members who have left “positive feedback” and compare it to the reaction of the sellers. A person can make an assessment of what could be possible useful information from those reactions. Be careful and precise about any transaction that is offered by the seller. There are instances where a person is deceived about the item he purchased. The photo shown on the Internet displayed the coin that a person wants to have but they delivered a totally different item. These cases are fraud. A person must make sure that the item he saw on the photo is the exact item that will be delivered to him. Here are some tips that will help a person prevent fraud during a coin search in the Internet. 1. A person should save the online photo of the coin he wants to purchase. Many sellers remove the image and the title of the item once a purchase has been made. 2. A person should get the description and the auction information. It should either be e-mailed to the buyer or sent in writing by mail. 3. If there are suspicions regarding an auction, a person should ask for clarification from to the seller. This will avoid misunderstandings and confusion on the part of the buyer. 4. A person has the right to refuse any transaction where he thinks the price given on the coin is too high. One should be aware of the standard price of the specific coin and compare it to the price that was given during the online transaction. 5. A person can ensure that there will be no fraud by asking the seller, before the auction closes, if there is any available escrow assistance for the bidder. These are only a few tips that will ensure a person of his safety when making any transactions online. Fraud can happen to anyone, especially those who are interested in purchasing collectible coins online. It is always important to be informed and knowledgeable about the possibilities of encountering fraud.
What Are Factors That Affect The Value Of Coins? When one is just starting in coin collecting, often the first question is: “What is the value of the coin?: and the answer is that the coin will cost as much as you are willing to pay for it and the amount can vary considerably. For instance, a coin dealer’s offer can be much less than a coin collector that certainly wants your coin badly to add in his collection. The following are factors that can influence the true value of a coin.
1. Grade or condition of the coin. Your coin will be worth or valued more when it is in good condition. When in a perfect or unblemished mint condition, an “uncirculated” coin will be worth many times more than a similar coin that has been in circulation. 2. The rarity of a coin is the principal basis for a coins value. Generally, the rarer that a coin is found to be, the higher it is priced. Do keep in mind that rarity has very little influence on the coins age. Chinese coins are a thousand years old normally sell for about ten dollars since there are so many of them; while a “1913 Liberty Head Nickel” can sell for up to or over a million dollars because only five specimens are known to be in existence. 3. Bullion value. A coin's precious metal content can determine its value. A platinum, silver or gold coin will not, in general sell for less than the coins value when melted. 4. Demand. There are coins that are greatly in demand; sought after by many collectors, and if that a particular coin is in great demand the price will be even higher. Even comparatively plentiful coins can mandate higher value when they are popular with coin collectors. For instance, “1916 D dimes” are much more abundant than the “1798 dimes” yet in spite of this, “1916 D dimes” sell for so much more because there are many more individuals collecting 20th century dimes than 1700 dimes. Here’s how you can determine the approximate value of your coin: 1. Properly, accurately, and correctly recognize and classify your coin, and know the to place value on that coin. You can do this successfully by examining your coin in a catalogue or online with the “coin price guide”; this will give you an idea of the going rate and price of your particular coin and you can determine the approximate value of your coin. Everyday coin values are changing; so you need to use a “coin price guide” that is updated on a daily basis to obtain the current coin value. Look at online sites that offer step by step guidance on how to recognize your coin the proper way. 2. Grade your coin based on your thorough observation and examination of its current condition. 3. Consult coin catalogues for a list of retail prices in or estimates of your coins retail value. “A Guide Book of United States Coins”, popularly known as "The Red Book" to coin dealers and collectors, provides information on retail coin prices for US coins and is available in libraries, coin shops and bookstores. “The Standard Catalog of World Coins” (in volumes) is a guide commonly used by coin dealers and collectors as well, to provide information on world coins and is available in many public libraries. You can also check current coin prices by basing it on the actual dealer coin price found in magazines and newspapers or online auctions such as Yahoo, Coin World, eBay or Teletrade. Always keep in mind that you are not collecting coins primarily for money; you collect for enjoyment and self gratification, and profit is to be last consideration. The plain fact that a certain coin does not have a large monetary value, does not necessarily suggest that it is no longer interesting or fascinating or that it must not be included in your collection. Each coin will have a certain interest in itself, regardless of the condition that it is in and regardless of its monetary value. There will always be a certain characteristic that will draw you to that particular coin; so when it does, then you should have it in your collection. Have fun!
Learning the ropes of Numismatics Numismatics is the study of money, medallions, banknotes, token coins, and stock certificates. It is believed to have been established in the time of Julius Caesar who wrote the first book on the subject. It is a very interesting topic because every medal or coin signifies a different era, culture, economy and/or politics. Numismatists or the people who study the history and over all appearance of the above mentioned forms of currency are different from coin collectors. Unlike numismatists, coin collectors are only interested in collecting coins and the prestige that goes along with it; a numismatist may also be a coin collector and vise versa. Over the years, coin collection has been very popular. The most common designs are famous people and animals to depict the era when the specific coin was released. Numismatists are generally interested in use of money, its origin, appearance, variety and production. They aim to explore the role of the different kinds of currency in our history using mint information. Mint refers to the place or facility where the coins are manufactured. They also grade or authenticate coins to determine their market value. T facilitate this, coin grading system facilities were established. At this time there are three major third party facilities that authenticate coins and/or paper money. These are: the PCGS or Professional Coin grading system located in Newport Beach, CA; the NGC or Numismatic Guaranty Corporation in Sarasota, Florida; and Paper Money Grading (PMG). PCGS is a third party institution that was established in 1986, which grades and authenticates coins primarily for commercial purposes. They are an independent body providing expert opinion in rating a coin. NGC is also a third party institution offering services solely to numismatists. It was established in 1987. On the other hand, PMG is solely for authentication of paper money and a smaller department of PCGS. When coin collecting was not as popular as it is now, there were only 3 categories into which a coin could fall: 1. Good – which means that the coin has all of the details intact; 2. Fine – which means that the coin has all the details intact and still has a bit of luster visible; and 3. Uncirculated – which means that the coin was never put on the market thus maintaining its original appearance. However, today coin grading has evolved and is becoming more definite. They use a combination of letters and numbers that corresponds to the quality of a coin. The coin grading system of United States of America is the most comprehensive and recommended for beginners. An example of USA grading system: MS-60 to MS-70 which means that the coin is blemish-free and has good color and strike. In short it’s perfect! Knowing how to grade a coin properly is not only a gift, it’s an art. It requires knowledge, exposure and obviously skills. For coin collectors, ability to grade a coin is a must because the value of a coin largely depends its grade. Here are some components Numismatists use in coin grading 1. Luster - it is a determining factor whether or not a specific coin has been circulated. To have a higher grade, a coin must be technically intact and free from any form of imperfection or blemish. 2. Surface preservation. Abrasion on the surface of the coin and its location is a huge factor in grading a coin but it does not necessarily mean that abrasion can lower the grade of a coin. For example, if a good-looking coin has a severe abrasion on the back that is unnoticeable it will not count against the coin, but the issue may not be the same if the abrasion is located on the front or focal point. 3. Strike. It refers to the coin designing process wherein the coin is being stamped onto a planchet. In overall grading, strike does not weigh a great deal. 4. Coloration. For some coin collectors, preservation of original color of the coin has a huge impact on its value especially if it is a copper or silver coin. 5. Eye appeal. Some coins may not be perfect but collectors may find them attractive, however, it still requires expert opinion to conclude that a certain coin is excellent in all aspects mentioned. If you have no background in grading coins, you have no business in coin collecting and numismatics without employing help from the experts. Coins have been playing vital roles, not only in the lives of people who love collecting and studying them, but in society as they represent different eras in history. Whether you are selling, buying or collecting coins, you must acquire the necessary basic knowledge or information; so that you can be assured that it is accomplished properly.
How to Detect Counterfeit Coins A special machine does the stamping of coins to make them genuine. People who counterfeit coins are well trained and have the capacity to manipulate their duplication - especially those rare coins which have high value among collectors. The most common procedure used in counterfeiting is that they pour a liquid metal into molds that will leave die marks with cracking on the counterfeit coin. Those who are experts in determining counterfeit coins have observed that the changes seen in the coins have added, removed, or even altered the coin’s date markings. If a person thinks that he is in possession of a counterfeit collectible coin, he can compare it with another coin – one like the suspect coin – which is known be genuine and have the same markings. If the coin’s value is more than 5 cents, look for corrugations in the outer edges of the coin. These are very thin railings (also know as “reeding”) on the edges of the coins. Genuine coins have very thin edges and the railings are even and distinct if one is very observant. Those coins that are counterfeit can be distinguished if the edges are not thin enough and the railing is uneven or missing in some areas. Should there be an instance when a person perceives that he has received a counterfeit coin, he must not return the counterfeit coin to the person that handed him. He must try to delay the person – should he try to escape – or try to keep that person in sight and follow him to his destination if possible. It is important to remember the person’s clothes and physical appearance and if the person has any companion during the exchange: if they have a vehicle, get the car’s license plate number and immediately call the nearest police department or the United States Secret Service for help. There are many things that can be considered to determine whether the coin is counterfeit or not. There are terms that are used to describe a counterfeit coin’s characteristics and they are as follows: 1. A restrike of a coin can be considered to be genuinely authenticated. These coins are actually dated earlier than those originally issued by the country that released them but have the same or exact features as the original coins. 2. Coins of a specific country in the ancient times are sometimes copied by another country. A person may think that it is forgery, but it is not because they had been legally approved in the country where they originated. 3. Forgery can be associated with the making of an illegal profit. It would be the main objective of the counterfeiting syndicate. The government sometimes uses forgery for political propaganda, as in the Second World War when Germans produced millions of American and British banknotes with the intention of profiting from them and destabilizing their enemy’s economic situation. 4. Another known type of counterfeit coins is replica coins. Replica simply means that the original coins are copied with the same features and markings. The usual counterfeit coins have differences that are noticeable when examined by coin experts. Some coins have the word “copy” intentionally put on the sides of the coins and these replicas are used for educational purposes and museum displays. 5. A Lebanese connection is said to have a huge production of counterfeit coins. These coins were found to be used in an attempt to fool many museums, collectors, business leaders and other countries that are searching for their ancient lost coins before the discovery of this syndicate. 6. The collector intended forgery and the circulated intended forgery are types of forgeries where the coins are intended to be tokens yet the face values are accepted, despite of their illegality and irrelevant intrusive values. It is important to consult an expert to determine if the coin is counterfeit or fake. An ordinary person can easily detect if the wrong metal was used for the counterfeiting. If the person is a collector of such items, he should be more aware of these coins. A collector needs to be more concerned with the collectible rare coins because this is where counterfeiters benefit frequently - their aim is to profit from the exclusive market for valuable coins.
The Verity of US Coin Collecting Some people are born to love money; whether they spend it or just collect it, they are simply born to love the way money provides them the kind of gratification that they need. For example those people who are coin collectors simply love the sight of coins and many wish to display their collections as art. In the United States, coin collecting started as early as 1652. During this period, business people and individuals alike, were known to engrave and distribute their personal coins. Some people are so interested in coin collecting that they are more willing to combine various forms and categories. The reason for this fascination for these coins is the very nature of U. S. coins. The U. S. Mint carefully crafts U. S coins and over the past 30 years it has minted nearly 300 billion coins. When the Articles of Confederation gave consent for the different states to create or manufacture their own coins, the U. S. coin collections grew at an unparalleled rate. That is why in the middle of 1780's, states like Connecticut, Vermont, New Jersey, New York, and Massachusetts started creating various coins unique to their states. This prompted the start of "rare coin collection." To know more about U. S. coin collecting, here are some of the basic facts that you must know: 1. It was on 1787 that the primary "federally" approved coin of the U. S. was first made. It was in New Haven, Connecticut where the "Fugio Cent," the name of the coin, was secretly manufactured. 2. The U. S. Mint is responsible for manufacturing the U. S. coins. The agency uses bands of metal that are rolled into loops, with the right breadth and measurements. Each kind of coin uses a particular kind of metal. For instance, metal strips that are made of zinc are used to manufacture pennies, while nickels are made of a 25% "nickel metal alloy" and 75% copper. For this reason, U. S. coin collecting is further subdivided into categories such as the U. S cent, U. S. nickel, U. S. dime, etc. People who would like to start collecting U. S. coins, should learn the intricacies or the hobby and find ways to acquire their first coins. The hobby of U. S. coin collecting is not just a wonderful hobby but also a great way to preserve the nation's culture and history.
Even Coins Get Grades Coin grading is the process of attempting to determine a coins value. It provides a basis for both buyers and sellers when deciding on the quality of a coin and it’s market value. When people first started collecting and grading coins, they were divided into two groups or grades. Coins were either new or used. But after awhile those grades were much too broad. Something a little more defining had to be used. Even though the grading system today is much more sophisticated, it’s still based on human interpretation. If you submit the same coin to 2 different grading services, you may get 2 different grades. Sometimes even the same service will give a coin a different grade if it’s submitted more than once. This has been taken advantage of by coin sellers trying to get a higher grade for a coin so they can put a higher price tag on it. One company had the idea to use computers to grade coins. But the computers showed less consistency than human graders did. Coin grading is a continually evolving process. As more and more people start collecting and more coins are passed around, the grading system grows. More distinctions are made and more categories are created. So even though the grading system is a good basis for determining the value of collectable coins, it’s not something to be believed and followed blindly. The best thing for any new collector is to learn some basic coin grading on their own.
Who Collects Coins? There are basically 4 groups of coin collectors. While maybe not every coin collector fits into one or more of these categories, most do. The categories are inheritor, hobbyist, investor and hoarder. The majority of coin collectors start out in the inheritor category. Some coins are passed on to them from a relative. Or maybe they were given to them by a friend or the coins were just found in their change. However the coins came into their possession, the new collector didn’t purchase them and usually has no knowledge of coin collecting. Once in their possession, if these coins spark an interest, the inheritor becomes a collector. The hobbyist collects coins for their artistic or historic appeal. They enjoy the challenge of trying to obtain all the coins in their chosen categories. The hobbyist can easily move into the investor category. The investor sees the opportunity to increase their original investment in coins. They can appreciate the artist appeal of the coins, and may get a lot of personal pleasure in the process of completing their collection, but their main reason for collecting is the potential return on their investment. Then there’s the hoarder. They collect coins just for the value of the coins. Their collections usually include everything they can get. They have no interest in the artistic or historic appeal of the coins. For them the value of the coin is the face value or the value of the material the coin is made from.
Antique Coins as Cool Collections Coin collecting is a fun activity and it has been very popular because it does not only serve as a hobby but as an option to generate income. Probably the most popular types of coins that are sought by collectors are the antique coins. Antique coins may be bought from auction sales, coin shows, malls and even in tourist areas that have historical themes. Antique coins are found to vary greatly in price depending on the age of the coin, its history and country or origin. Here are some tips that may be considered when buying antique coins: 1. The buyer should make sure that the antique coin they are buying is a genuine one. There are many counterfeit coins sold in the market today and a buyer should thoroughly inspect any coin before buying it. 2. Coin collectors should collect the less expensive antique coins when beginning. The more expensive ones can be purchased once their collection becomes larger. 3. Collectors need to consider a purchase carefully before buying antique coins. Always be aware of the scams and fraud that may occur when buying coins. Take extra care in choosing – always determine the authenticity of the coin they are considering 4. A professional coin appraiser should assess the value of the coin before you buy so that the real value of the coin will be correctly assessed. This will prevent buying a coin at an inflated price. 5. When choosing antique coins narrow down the collection of antique coins to those from a specific country or a specific era. This will make the search for collectable coins an easier task. 6. Care is always needed to preserve the value of coins. Antique coins should be given extra care in order to preserve their appearance as well as their value. A collector should be aware that antique coins do not require much cleaning as excessive cleaning will only depreciate their value. The older the antique coin looks the more expensive it becomes. Antique coins can provide so much entertainment for collectors that anyone might consider making it a hobby. Remember to be patient in searching for these coins since they may be available in limited numbers. You must have the passion for collecting to make antique coin collection a satisfying experience.
The Exceptional Truth behind Rare Coin Collecting Are you interested in coin collecting? Have you ever tried collecting rare coins? Today, coin collecting, especially of those coins that are considered rare, is considered to be one of a few hobbies that are not just a mere pastime or leisure activity. Coin collecting can serve many purposes considered typical of this activity. Coins have long been known as works of art because of the way the manufacturers carefully engrave the designs on the surface. Coins of a particular nation often portray the history of that nation with the engraving of the design on the coin. Few people know that coin collecting can also be a profitable venture. Rare coins that are extremely hard to find are often valuable and when found can be a good investment. The rare coin collection market in the United States has boosted their sales in recent years from 348% to 1, 195%. According to the U. S. Rare Coin Market, the average price of $1,000 spent by an individual during the 1970s would be valued at almost $57,977 today. What is the secret behind these rare coins that their value continues to increase with age? Rare coins were able to maintain even when the economy is unstable. They have been able to stabilize the wealth of the nation by serving as “inflation fighters.” Experts contend that through these rare coins, the economic wealth of a nation is sheltered from possible harm by functioning as an investment much like “gold bullion”. This is applicable during the times when the value of the paper money continues to depreciate. The rarity of these coins is not constrained by being merely collector’s items but they can also be considered a work of are and just like any work of art, may be priceless. Rare coin collecting is not just like any other hobby. The concept of collecting such treasures is considered exceptional by itself and the monetary value can equal its distinctive character.
Joining a Coin Club People engage in social activities for many reasons; most common is sharing in the same interest and passion as other people. It is in places like these that information about a certain subject is shared and new ideas and trends are revealed that keep its members up to date with current events that happen in that club. A coin collection club is the same. Since the number of people who have been doing coin collecting has increased over the years, the vast network involves numerous clubs in several states. In these clubs amateurs and professionals can share, trade and bid for new items to add to their existing collections. There is never a wrong time to join a club. The challenging part is looking for one. You can start by asking the local coin dealer for help. Some coin clubs can even be found on the internet and they will require that a membership fee be paid. Coin clubs often can also be found in the newspaper especially when events are advertised that invite the public to come and visit the exhibit. If a person is still having a hard time finding a coin club then inquire at the local library or the Chamber of Commerce as they may be able help provide information. One benefit of being a member is that it is easier to find someone who will buy coins at a good price. Or perhaps other members may want to part with some of their coins in exchange (called bartering) for other coins. Most local coin stores only have a limited selection that is available for trading. Another benefit of becoming a member is obtain articles which feature a certain coin collection or discover better ways of caring for a collection. The club also informs its members about upcoming events so the individual can plan ahead to be able to attend the events. Coin clubs are formed so that everyone who loves coins can have fun. This means that it is not only for those who have a collection at home; it is open to novices, experienced collectors who have done it for years, as well as coin experts They build a network that enable collectors to assist others. To become a member of a club just find a suitable one and join the fun!
Coin Collecting 101: What Type of Coin Should You Collect? Coin collecting is a fun hobby to start and the thrill of hunting for old coins is enough for many people to continue doing it. Other people consider coin collecting an investment, something they can receive a profit from. If you are one of those people, then you can find several types of coins in this article that will help you determine what others are looking for. Most coin collectors will look for only a specific kind of coin that will make their collection more valuable and interesting to buyers. Others are collecting for sentimentality and are looking more at the coin’s uniqueness. Series collectors are those looking for a series of coins that mark every year and every design change made in that coin. Type collectors are those people who are looking to get one of each coin where there were/are changes made. Ancient coin collectors are those people looking for coins spanning the years 650 BC – 450 AD. This is the time when coins were invented and there were silver, gold and bronze versions made. It also marks the time when Roman emperors were the rulers and most of them feature famous Roman emperors, Roman towns, or gods. Token collectors are those who are looking for different kinds of tokens that were used in exchange for real money when there was a lack of coins. These tokens were used as local currency even if the government had not given permission for them to be used. Coins are also graded. A coin’s grading depends on its condition and the price of the coin will rely heavily on that grade. It is important for a coin collector to know how to grade a coin to make sure that he is not swindled by individuals looking for a quick profit. “Uncirculated” coins are those coins that are not showing any wear and tear or to referred to as “in mint condition”. A mint state (MS) grading depends on a coin’s luster, contact marks, hair lines and overall appeal. A coin can have a grade ranging from MS-60 (dull luster) to a flawless MS-70. Although MS-70 is considered unobtainable, a grade of MS-65 and higher will make a coin’s price shoot up. Circulated coins are more forgiving, they do not take into consideration the amount of scratches and dirt a coin has gathered along the years. Grades for circulated coins will vary. AU (about “uncirculated”), EF (extremely fine), VF (very fine), F (fine), VG (very good), G (good), AG (about good), F-2 (fair) and P (poor) are used as indication of how much a coin is worth. These grades are dependent on a circulated coin’s luster, visible wear, design elements and visibility of letters and numerals. Unlike “uncirculated” coin’s grades, these grades do not dramatically lower a coin’s value. This is wonderful for people who are looking just to complete a collection and do not care about a coin’s mint condition. Pricing of a coin will usually be determined by a coin’s supply and demand. Very low supply and very high demand will make a coin’s price higher; however, high supplies of the coins will depreciate a coin’s value. Demand is usually established by coin dealers where they take into consideration the number of people wanting to buy or sell the coins. Once a coin becomes difficult to find, coin dealers will usually make its price higher so that people are inclined to sell extra copies of their coins. Grading and pricing a coin usually takes a lot of experience to master. Although there are several tips and guidelines to look for in grading a coin, only professional dealers have the final say on how much a coin is worth. It does not hurt to know this grading is done and why your coin was graded differently from what you thought. Coin collecting is not really about investment, it should be a fun and thrilling hobby. While the overall goal of a coin collector is to complete a set of coins, learning what to look for in a coin is important to make sure that no one can take advantage of your need to complete a particular set.
Handling Your Collection. When it comes to collectable coins, the less they get handled, the better. They’re best kept in a coin holder, with as little contact as possible. The better the quality of the coins, the more important it is to handle them properly. If you have to handle them, it’s best to hold the coins on their edges. The less contact with your skin, the better. Fingerprints will quickly lower the value of uncirculated coins. You also need to keep the coins away from your mouth. The moisture from your breath can eventually cause spots on the coin. Some collectors and dealers wear gloves and masks when handling coins. If you need to place your coins on a surface, a clean, soft velvet cloth or pad is best. Don’t drag the coins across any surface. Scratches will greatly reduce the value. Cleaning is another easy way to reduce the value of a coin, sometimes by as much as half. A shinny coin is only good when it’s the original shine. If a cleaning is absolutely necessary, the services of a professionally is strongly recommended. Tarnishing’s a natural process called toning. When it looks good, tarnishing can increase the value of the coin. If there’s dirt on your coins, you may be able to remove it by soaking them for a few days in soapy water or olive oil, then thoroughly rinsing with water. Don’t dry them by rubbing them. Rubbing the coin, even with a soft cloth will cause scratches.
Stamp Coin Collecting: The Valuable Twins Humans are known to engage into different kinds of diversion to unleash the boredom that life sometimes provides. There are people who use coin, stamp, or sticker collecting to accomplish this while others are satisfied with other hobbies such as cooking, gardening, crafts, etc. All of these provide a certain kind of satisfaction that they can’t achieve in other activities. Two of the most popular hobbies in the world today are the stamp and coin collection. The value of these two leisure activities is incomparable to other types of hobbies. Why? It is because coin and stamp collecting do not just embody the mere act of accumulating different kinds of coins and stamps but also personify the preservation of a nation’s history. Both stamp and coin collecting highlight the different images that are used to visually record a significant event or era in history. The two have become indistinguishable as far as value and appeal is concerned. For people who wish to collect coins, stamps, or both, here are some of guidelines that you need to know in order to start. 1. Do some research It is not enough that you are interested in stamp and coin collecting in order to start the activity, it is also important to do your homework first so that you will have enough knowledge about this activity. 2. Be wary when buying items If you cannot obtain stamps and coins for free, and the only way to start your collection is to buy the items, be very meticulous about it. Know the seller’s reputation. Research his history and determine the length of time he has been in the business. The point being that the longer he has been in the business, the more reliable his reputation probably is. 3. Know how to identify the correct item Do not just buy stamps or coins without learning how to classify and identify them. For coins, it is best that you know how to grade them. For stamps, you should know how to identify any slight disparities in the kind of paper used or other distinguishable features such as watermarks, color, or perforations. These are just some of the many pointers that every stamp and coin collector must know. With these tips, you can now start your stamp and coin collection without difficulty and with confidence.
Starting Your Collection Collecting coins as a hobby is fun and easy. You just look through your change everyday and pick out the ones that interest you. Or the ones that are different or unique. Everyone knows wheat pennies are old and so are buffalo head nickels. And if you look closely, you can still find them being spent everyday. But, if you’re interested in coin collecting for profit or as an investment, there’s more to it than just looking through your pocket change. Coin collecting is a very serious business for a lot of people. People all over the world make their living with it. Coin collecting has been a business for generations. And there’s the very real chance of losing a good chunk of money if you just jump in with both feet without knowing what you’re doing. When you’re first starting out, take it slow. Do your homework. There’re many different areas of coin collecting to get into. Look around and find a specific niche that interests you. If you just jump in and start buying everything that catches your interest, your collection will have no order or consistency. Then later on when you do began to concentrate on one particular area, you’ll just have to sell the other coins to make room for what you’re really interested in. And this could result in financial losses. You could start by visiting a local coin shop or attending a coin show. That’ll give you an idea of what’s out there.
Starting a Coin Collection for Kids The best time to mould a child (kid) is when he/she is still young. By getting the curious minds involved in something educational, there is a very good chance that they will become responsible adults. Some parents can start by teaching how to cook or baking at a young age. If the child enjoys and does well with it, then perhaps in the future, this person could become a chef. Giving a child a hobby can also teach that child how to stay focused or to pay particular attention to a certain subject. A good example of this is starting a coin collection. For most adults coins are just petty cash. They are used to buy a newspaper or used to pay for a ride on the subway etc. For children, coins are more than that. Some children save the coins placed in their piggy bank to make a special purchase or save them to use for their college tuition. To start a coin collection the parent and child can start by opening the piggy bank and examining the coins together. Coins were manufactured during different years and each has its own history. By explaining the significance of each, the child’s interest will grow and this in turn will encourage growth of the coin collection. Both the parent and child could get lucky if they should find that a coin has missing letters or numbers or a misprint is seen on the coin. Since such things don’t happen often, the value of the coin is much higher than the original face value. Coins can that are to be part of a collection should be kept inside a small box separated from the coins used for savings. When this collection has grown larger, then it is time to buy a plastic folder in which to store the coins. There are two kinds or folders currently on the market: the first can hold the coins individually and the other is a sheet which can hold a number of coins per page. By using folders the child and take the collection to school for “show and tell” and would improve the child’s self-confidence in achieving something on his own - without the help of the parents. Coins can teach the child about saving for a special purchase or project and encourage the child to work hard to achieve that goal without always asking for money from mom or dad. Coin collecting started in the early years will pay off later in life by teaching responsibility.