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| Stamp Collecting & Coin Collecting Articles ( All articles are © Copyright protected by their respective Authors ) |
It is not hard to get started in
the infamous art of stamp
collecting, nor is it overly expensive.
There are a few must
have items needed to begin: tweezer-like
tongs to handle stamps,
a magnifying glass, a stamp album,
and of course, the stamps.
The first thing to decide is what
type of stamps you wish to
collect. Many people collect new
stamps and just as many collect
used ones; it is all a matter of
personal preference. If
collecting new stamps, there are
thousands of Internet sites
selling stamps, there are dealers
all over the world that sell
them, and there are even stamp auctions.
If collecting used
stamps, most people will save stamps
off of their mail and also
save the stamps off of all their
friends and families mail. One
of the cheapest ways to start a
large collection is buying a
roll of used stamps from a collector.
You can get 1000 mixed
stamps for as low as $12.00.
Many people only collect stamps from
their respective countries,
then there are some that collect
worldwide stamps. If you like a
specific theme of stamp you can
collect just that one type, such
as birds, ships, planes, animals,
or even celebrities. The types
of stamps are as different as the
people that collect them. It
is often a good idea to start with
a general collection until
you decide exactly what type of
stamp interests you.
After there are a good number of
stamps in your collection they
need to be sorted. Most people will
sort their stamps by
countries and or themes. Then go
another step further and
arrange them alphabetically. This
will make stamps much easier
to find.
When stamps have been accumulated,
it is essential that you know
the proper ways to care for stamps
so as not to ruin them. In
order to remove the stamp from the
envelope, first cut around
the stamp carefully. Place the stamp
face-up in a bowl of
luke-warm water and let it soak
for about 20 minutes. When the
stamp comes off carefully put the
stamp on a dry towel then use
the special stamp tweezers to put
it into an album.
If looking for more information on
stamps and stamp collecting,
the local post office is a good
place to start. They usually
have separate philatelic counters.
Some larger post offices also
sell a Stamp Collecting Start-up
Kit. As a source for more
information there are also stamp
clubs, magazines and stamp
catalogues, or experienced stamp
dealers.
Author: Michael Perry
Coin
Collecting Throughout The Ages
Coin collecting,
or numismatics is a hobby as old as time. As a
hobby, it has been around for more
than 2,500 years. This is
surprising since the use of coins
has been around for pretty
much that same amount of time too.
Man has always had a fixation
for small, round, shiny things.
And throughout the ages, coin
collectors have always been on the
prowl for the oldest, rarest,
most attractive coins around.
Numismatics comes from the Greek
word nomisma, meaning
'currency,' or coin. It is also
related to the study of
banknotes, tokens, and other early
forms of money.
Coins and other forms of money are
issued by governments and
other monetary agencies. Billions
of these flood the market
yearly. But as time goes by, the
number of these coins go down.
Some get lost and some are damaged
beyond recognition.
This goes to show that the older
the coin, the rarer it must be.
And for coin collectors, this is
prime stuff.
Coin collectors and hobbyists number
millions around the world.
This hobby is taken so seriously
that there are even
professional dealers and investors
who ply their trade in this
fashion.
The lure of coins lies in its power
to draw people into the era
it belonged to. These coins show
many aspects of everyday life
during those times. By examining
a coin, one comes to know the
geography, philosophy, sociology,
artistry and other aspects of
the culture they existed in.
Ancient kings (and even today's leaders)
had a telling habit of
having their faces imprinted on
their currency. Some historians
have been able to put together clues
regarding the ancient
civilizations using these coins.
Sometimes, coins would tell of
a leader or prominent figure that
would have been forgotten by
time if it were not for these coins.
Hobbyists usually start collecting
coins from their own
locality. This makes sense because
they are the easiest to
collect. These hobbyists then expand
their collection to coins
from increasingly farther and earlier
origins.
Coin collectors regard every single
coin as a unique specimen.
They take note of the date, the
mint marks, and even the
abnormalities in its design. Ironically,
some of the most
expensive coins are those with the
strangest abnormalities. This
is because this type of coin is
hard to come by.
For example, there could be a coin
in existence that differs
from other coins in its batch. For
some unknown reason, it lacks
some of the required markings. Such
coins are deemed more
valuable than the normal coins of
its type.
A good number of coin collectors
collect coins according to
themes. The coins they collect all
have a common topic. Some
collect coins related to kings and
queens. Some collect those
related to plants and animals.
The price for a coin is determined
by the demand for this coin.
Many factors affect this demand.
If a coin is rare, chances are,
it is in great demand. However,
there are some coins that are
rare, or exotic, yet the demand
for them remains low. If this is
the case, then its market value
will remain in the low end.
Before purchasing coins, one must
do much research about that
coin. He must assess its current
market value and make sure that
the coin is genuine. He should also
consider how much he could
earn if he resells the coin.
The American Numismatic Association
is the largest numismatic
organization in the world. It was
founded in 1891 and was
chartered by the Congress of the
United States 21 years later.
This group has the largest library
of coins available.
Collectors would love to visit their
headquarters, the World
Money Museum, which is one of the
largest coin museums in the
world.
Another organization, the American
Numismatic Society, is the
most active and respected nonprofit
numismatic publisher in the
world. They maintain a museum that
contains more than a million
objects. They also have a library
that has one of the most
comprehensive in coin collecting
knowledge.
Whether you are a hobbyist or a serious
collector, coin
collecting will always bring a sense
of fulfillment and history
to your life. It is never too late
to start collecting today.
You can't lose! Your collection
can only grow in value as the
time passes by!
Author: Paul Graham
Grandma's
Mercury Dimes
One vivid memory of my very early
childhood back in the 1960's
was of driving to church on Sunday
mornings with my family.
Since my grandparents lived close
to us, Dad would always swing
by and pick them up, and we'd all
carpool together. It was the
job of "Little Danny" (as I was
affectionately nicknamed back
then) to sit in the backseat, wedged
snugly between Grandpa and
Grandma.
As if some sort of ritual, every
Sunday Grandma would fish
though her purse to find goodies
for me and my older brother.
Grandma almost always carried Wrigley's
chewing gum, though once
in a while we had to settle for
a cherry-flavored cough drop.
For a bonus treat, Grandma gave
each grandson a coin to go in
the piggybank. There were a few
instances when I received a dime
featuring a lady who sported a wild-looking
hairdo, or at least
that's how it appeared to a 4-year-old.
On one occasion, Grandma
explained to me the coin was called
a Mercury dime. She was a
coin collector of sorts, and I credit
her with encouraging my
first interest in coins. Even though
it didn't mean much to me
at the time, this was my first lesson
on Mercury dimes.
With the passage of years, I gathered
more knowledge on Mercury
dimes. For example, I learned the
face on the obverse really
wasn't that of Mercury, the male
Roman messenger god, as the
public has largely believed ever
since the dime was first
released in 1916. Instead, the coin's
designer, A.A. Weinman,
intended to portray a rendition
of Lady Liberty crowned by a
winged cap, to symbolize liberty
of thought. However, the
"Mercury dime" moniker stuck, and
is still by far the most
common reference for this beautiful
ten cent coin. The correct
name, Winged Liberty Head dime,
is used much less frequently. Oh
well, at least I can congratulate
myself, for even as a small
child, I was able to recognize the
person on the dime as a
woman, not a man!
Another important fact about Mercury
dimes worth mentioning is
that back when Grandma was coin
collecting, not much attention
was focused on the degree of separation
and roundness seen in
the horizontal bands holding together
the bundle of rods on the
reverse side. Full Split Bands (abbreviated
"FSB") resulted from
striking by fresh dies, and have
proven to be much rarer than
blended, flattened bands. Generally
speaking, if a Mercury dime
displays fully separated and rounded
bands, it can generate
prices far above less distinctive
specimens of the same date,
mintmark, and grade. For the last
10-15 years, most Mercury dime
value guides have carried an FSB
category for mint state grades.
Recently, I decided to chart the
value trends of Mercury dimes
over a long period of time, for
the purpose of identifying Mercs
that have historically demonstrated
the best gains. My theory is
that coins that have shown the strongest
price increases
consistently in the past are the
same coins most likely to
accomplish the same in the years
ahead. I don't advocate
purchasing Mercury dimes or any
other coins for the sake of
measuring ROI, but speaking for
myself, if I ever decide to add
to my Mercury dime collection, I
want to make selections
designed to (A) please my numismatic
taste buds, and (B)
stimulate competitive bidding amongst
future generations of
collectors.
To quantify past performance and
to evaluate Mercury dimes best
positioned to experience strong
future price advancements, I
called upon a mathematical analysis
I developed to reach similar
objectives for other coin series.
First, I researched Mercury dime
retail values for individual
coins as they were reported in the
year 1950, covering a wide
range of conditions, and entered
this data on a computer
spreadsheet. Moving forward in time,
values from the years 1980,
1995, and 2000 were similarly captured.
Finally, estimated
selling prices in 2005 were placed
adjacent to matching data
from those earlier years. Because
grading terminology has
evolved over the 55 year period,
certain assumptions were made
to progressively track price movements
throughout the time
spectrum (e.g. an "Uncirculated"
value in 1950 is equivalent to
the "MS-60" of today). The highest
grade inserted into the
analysis was MS-65, for which I
was able to list relatively
complete data starting in the 1995
data column. Because I deemed
"FSB" data to be somewhat sporadic,
I elected not to include it
in this study for the sake of stability.
For each date and condition, compounded
annual return rates were
computed from 1950 to 2005. Return
rate computations were
likewise made from 1980 to 2005,
1995 to 2005, and 2000 to 2005.
For each Mercury dime, the data
was placed in tabular format.
Next, I calculated a "composite"
score for each date by
averaging all the compounded return
rates computed for that
date. I then ranked all the "composite"
scores. The Mercury
dimes with the top five highest
scores are:
Date: Score: 1916-D 7.71 1942 (2
Over 1) 7.64 1921-D 4.90 1945-S
(Micro) 4.58 1942-D (2 Over 1) 4.39
It should surprise no one that the
kingpin of the Mercury dime
series is the 1916-D. Long considered
one of the classic
rarities of the 20th century and
a favorite of collectors, we
now have some statistical evidence
to support this claim.
Experienced Mercury dime collectors
probably would expect to see
the other dates making the "Top
Five", though the 1945-S (Micro)
will cause some head scratching.
At the opposite end of
performance, there is a logjam of
dimes crowded into the
2.50-3.50 range. The value of these
coins is dominated by their
silver bullion content and merit
only small numismatic premiums,
with the exception of higher grade
specimens.
Okay, let's say you're fascinated
with the history and style of
the Mercury dime. You've decided
its time to add a few to your
coin gallery, yet at the same time,
you're afraid of spending
money on something doomed to stagnate
in value over time. Bottom
line solution: purchase a member
of the "Top Five" ranked above.
Yes, they're a bit pricey, but instead
of buying many of the
less expensive Mercury dimes, save
your cash and get a single
example of a proven winner. You
will be pleased with this
strategy as the years roll buy.
Buy the absolute best grade you
can afford, and always, always obtain
coins that are
problem-free and CERTIFIED by a
reputable grading service.
Sadly, many fakes and alterations
exist.
Thinking back again to those childhood
days, I can't begin to
remember what happened to most of
the coins Grandma gave me on
our Sunday morning drives. Somehow,
over the decades, I've
managed to keep preserved in a special
place a tiny handful of
Grandma's Mercury dimes. All common
dates, there's not a 1916-D
in the bunch, but their sentimental
value to me is incalculable.
These coins were a heartfelt gift
from someone close to me who
departed from this world long ago
and they helped inspire in
"Little Danny" a lifelong enchantment
with a wonderful hobby.
You know, come to think of it, let
me add one more bit of
advice: while you're bagging a "Top
Five" Mercury dime, you
ought to stop by the Bargain Bin
and pull out a few 1944-D's for
your children and grandchildren.
You just never know what you
might get started.
Author: Daniel Goevert
10 Great
Cents
It is safe to say there have been
many important coins in the
history of the cent denomination.
Ranging from expensive and
scarce to rather available and inexpensive,
important cents take
a number of forms, making the top
10 an interesting and diverse
group.
The cent was a high priority for
the U.S. Mint from its start,
with the first cents being minted
for circulation in 1793, the
year after the Mint opened. Here's
my list of the 10 best that
have been produced since then.
1. The design of the 1793 Flowing
Hair chain cent is credited to
Henry Voight. It shows Liberty facing
left, with a chain reverse
of 15 links--one for each state
in the Union. An estimated 5,000
to 10,000 were minted with an abbreviated
inscription, "UNITED
STATES OF AMERI." The remainder
of this 36,103-mintage coin
carried "AMERICA."
No sooner had the first cents appeared
than the critics came out
in force. Particularly offensive
to some were the chains. The
idea was to show unity, but to some
the chain represented
captivity. The 1793 Flowing Hair
chain cent is extremely popular
today. It is usually found well-worn.
The demand is always far
in excess of the supply, which means
even a Good-4 commands a
$7,750 price tag.
2. Next is the 1856 Flying Eagle
cent. In fact, the 1856 Flying
Eagle cent is technically a pattern,
as the Flying Eagle cent
was not even authorized until 1857.
The 1856 Flying Eagle cent was basically
a test of a new,
smaller cent that would not have
an intrinsic value anywhere
near its face value. Therefore,
it was a bold departure from
prior practice. The first 1,000
were given out to congressmen
and others in influence in an attempt
to win its approval.
It was coined for circulation into
1858, and collectors soon
realized the 1856 was far tougher
than the 1857 or the 1858. The
Mint at the time was a very different
sort of place and
collectors wanting an 1856 Flying
Eagle cent simply went to the
Mint and asked for one. The Mint
cheerfully provided the coins.
We cannot be sure of the initial
mintage, but most put it at
somewhere between 1,500 and 3,500.
Over the years the 1856 has not been
dismissed as a pattern.
From the start it was seen as a
prized addition to a cent
collection. As such, the coins were
selling for $1 each as early
1859.
The 1856 was hoarded by the wealthy
collectors of the late 1800s
and early 1900s, with famous hoards
in some cases topping 500
examples. The significance of those
hoards can be seen in
today's list price of $6,250 for
an 1856 in G-4. The 1856 ranks
as a truly significant coin not
only because it is scarce but
also because it opened the door
to the idea of a small cent.
3. In 1859 an entirely new cent appeared
with James B.
Longacre's Indian Head obverse.
The 1859 was important as a
one-year transitional piece. The
following year the design on
the reverse was changed to show
an oak wreath and a small
shield.
Fortunately, despite only being produced
for one year, the 1859
had a high mintage of 36,400,000.
It is available today at
$12.50 in G-4, $215 in Mint State-60,
and $3,200 in MS-65.
4. The 1877 Indian Head cent is next
on my list. It had a
mintage of 852,500 and was quickly
recognized as being scarce.
It remains tough today, listing
at $590 in G-4, $2,850 in MS-60,
and $8,750 in MS-65.
5. The 1908-S Indian Head cent is
important for a very simple
reason. It was the first cent to
be produced at any facility
other than Philadelphia. Until a
couple years earlier, there had
been a stipulation in the law that
coins containing no gold or
silver could only be produced at
Philadelphia. That somewhat
unusual idea had been the result
of Western mining interests who
wanted nothing to do with coins
not containing the metals they
were mining. That feeling was especially
strong during the
1870s, when the price of silver
was declining.
Finally, in the early 1900s, the
law was changed, as lower
denominations were needed even in
the West, and having them
shipped from Philadelphia when there
were mints in San Francisco
and Denver was ridiculous.
The 1908-S was the first cent to
be produced in San Francisco,
with Denver joining in with cent
production starting in 1911.
It is clear the 1908-S was noticed
as it was saved in some
numbers, making it available today
at just $60 in G-4, $275 in
MS-60, and $650 in MS-65. The price
of a G-4 is unusually close
to the MS-60 simply because the
1908-S was a bigger deal than we
might think today and that meant
significant saving at the time
it was released.
6. The 1909 V.D.B. Lincoln cent is
also a coin of great
importance. Prior to the 1909 V.D.B.
no circulating coin of the
United States had depicted a famous
American. Although
Washington had already appeared
on the 1900 Lafayette
commemorative silver dollar, the
idea of not using depictions of
real Americans on circulating coins
dated from his time. He had
joined the House of Representatives
in blocking the use of his
image on coins.
This held until Teddy Roosevelt came
along with the idea that
the centennial of Lincoln's birth
should be noted on a
circulating coin. The artist selected
by Roosevelt, Victor D.
Brenner, contributed to the fame
of the first Lincoln cent by
having his initials on the reverse.
Officials had actually approved that
idea, but when they saw the
first Lincoln cent they changed
their minds and the V.D.B. was
ordered removed. Before the initials
could be removed,
27,995,000 of the new 1909 V.D.B.
cents had been produced at
Philadelphia, which was enough to
make them available today at
just $9.50 for an MS-60 and $100
for an MS-65.
The price indicates the heavy saving.
Like the 1908-S, the 1909
V.D.B. was much more important than
we might think. Many opposed
the idea of using famous Americans
on the circulating coins, but
eventually the nation's coinage
would become literally a
portrait gallery of historic figures.
That all started with the
1909 Lincoln cent.
7. The 1909-S V.D.B. Lincoln cent
can probably be best described
as the 1877 of the following century.
What is special about the
1909-S V.D.B. is that it had a mintage
of just 484,000 before
the order came down to remove the
initials. That made it
instantly a valuable and popular
cent.
The 1909-S V.D.B. was readily saved
as can be seen in the
numbers of examples available today
in grades like About
Uncirculated-50 and up. Even so,
generation after generation of
collectors have tried to find a
1909-S V.D.B. in circulation,
making it the most desired coin
by collectors for years. The
1909-S V.D.B. lists for $550 in
G-4, $1,300 in MS-60, and $6,750
in MS-65.
8. The cents of 1943 are special
as they are really souvenirs of
World War II. In an attempt to conserve
copper for the war
effort, it was decided that an alternative
alloy for the cent
was needed and that turned out to
be zinc-coated steel.
The new steel cents, which were subject
to rusting, were
unpopular with the public. The 1943
zinc-coated steel cents
would be produced for just one year,
with cents of the next
couple years being made from recycled
shell cases.
The 1943 zinc-coated steel cents,
though readily available at
low prices, are popular today because
of their link to the war.
A set of three MS-65 examples from
Philadelphia, San Francisco
and Denver can be had for around
$25.
9. The numismatic world was surprised
back in 1955 by the
discovery that some 1955 cents were
doubled on the obverse. The
1955 doubled-die cent was a national
sensation and it has kept
its popularity. Prices today range
from $1,350 in Extremely
Fine-40 to $34,500 in MS-65.
10. The final coin on my list of
most important cents is the one
everyone takes for granted and that
is the 1959 Lincoln cent
with the Memorial reverse. It is
readily available, but the real
story is not its price, but its
creation to mark the 50th
anniversary of the Lincoln cent.
Under the law, once a coin has been
in circulation for 25 years
the Treasury Department can order
a change without consulting
Congress. The Lincoln Memorial reverse
was the last time a
Treasury secretary changed a design
using that power, which
makes it an important coin.
It will be interesting to see what
happens in 2009, when this
design reaches its half century
anniversary. From the historic
to the popular, from the scarce
to the common, the most
important cents of the United States
are a fascinating group. A
few others could probably be added
to such a list but in every
case the 10 most important cents
have excellent reasons for
standing out in what has now been
more than two centuries of
very interesting cents.
Author: Kip Goldhammer
10 Great Cents By Paul M. Green
(Coins Magazine, November 2005)
Identifying
US Coins With Bullish Futures
Okay, let's get something straight... I do not
advocate the
purchase of United States coins strictly for investment
purposes. Like most traditional collectors, I believe coins are
to be primarily appreciated for their artistic beauty,
historical connections, and the joy of pursuing them. However,
it should be no secret that a significant number of us do add to
our numismatic holdings while simultaneously peeking at the
payback angle, too.
In truth, there are probably substantial numbers of traditional
collectors who prefer to acquire coins destined to increase in
esteem and value over time; treasured heirlooms and a source of
pride to be passed from one generation to the next. On the flip
side of this equation, it seems implausible that anyone would
buy a coin with the hope or expectation to see it stagnate or
decrease in value. Indeed, any commentator who suggests the
words "investment" and "coins" should never appear in close
proximity to one another is ignoring a heavily populated segment
of our hobby.
Now that we've established that it's not numismatic heresy to
seek coins with strong upside possibilities, let's get down to
basics. The guiding principle is simple: Any coin that has
demonstrated solid, consistent gains over a long period of time
is likely to show continued growth in the years ahead. Easily
said, but as we shall soon see, not so easily put into practice.
So exactly how does a one identify coins with a potentially
bullish future? The best clues are revealed by analyzing the
retail value trends over a long period of time for a given coin.
Observing current prices alone does not yield enough information
to correctly evaluate prospective price movements. What was the
coin selling for two or three years ago compared to today? Dig
deeper, and find the market price for the same coin 5-10 years
ago. While you're at it, get something from 20-30 years or more
in the past, too. The more good data researched, the more
reliable will be your final conclusions. Now whip out your
spreadsheet and chart the numbers, or compute annualized rates
of return. Flat or negative trends are bad. Positive trends are
good. Steep positive trends are best. Any coin displaying a
proven annualized growth pattern of at least 5-10% over a span
of many years qualifies as an attractive option for the
collector desiring coins headed for much higher price levels a
few years down the road.
During the course of my lengthy numismatic career, I've
researched the long term value trends of most collectible US
coins. Thanks to my trusty computer, I've calculated annualized
compounded percentage return rates and honed in on a handful of
coins that have consistently beaten the overall coin market
averages. Unfortunately, the blue-chippers are scarcely
encountered. Perhaps it is this fact that explains why so many
well-intentioned hobby purists scorn the idea of blending coin
collecting with the profit motive.
Individuals whose objective is to satisfy their numismatic
pleasure by assembling a collection certain to be the envy of
tomorrow's collectors must do their homework today. Remember to
research historic value trends and evaluate growth potential
based on previous performance. One last word of advice... never
loose sight of the fact that you are handling artifacts of
America's past, and that all of us are merely their temporary
custodians. Respect these coins and the history they represent,
and you'll always discover new avenues of adventure not found in
most other investment opportunities.
Author: Daniel Goevert
Daniel J. Goevert is the webmaster of US Coin Values Advisor
How
The Hobby Of Collecting Coins Began
A Brief History of Coins and Coin
Collecting
Very few things tell more about a
country in fewer words than
the coins it produces. Coins hold
a wealth of information on
their small faces, from the year
of their birth to the language
spoken at the time, from the metals
a country holds valuable to
the cultural influences and historical
figures that its people
hold valuable. Coins can also be
strikingly beautiful in their
own right, with the top designers
of a nation striving to have
their motif chosen for immortality
on the face of a coin. With
so much information and beauty contained
in so small a package,
it is no surprise that coin collecting
has been a hobby nearly
as long as the concept of coins
themselves. An understanding of
the long history of coin collecting,
once known as "the hobby of
kings," will make this pastime even
more enjoyable.
The Origin of Coins and Coin Collecting
The hobby of coin
collecting began nearly as soon
as the first coins were minted
in Asia Minor, around 650 B.C. Before
that time, gold and silver
ingots were the most common form
of legal tender. Because there
was no standard, however, each trade
necessitated a careful
weighing and examination of the
precious metals being offered,
and it was easy for unscrupulous
merchants to pass off a lesser
quality of gold in trade. Coins,
which were printed on
standardized weights of precious
metals and stamped with a
government guarantee of value, was
the answer to this unwieldy,
easily sabotaged trading process.
Within one hundred years, the
concept of coins had been adopted
by all of the major trading
cities in the civilized world.
At the beginning, coin collecting
had a very practical reason -
there were no banks in which to
store money. People hoarded
coins as a way of safeguarding their
wealth. Those coins that
were especially beautiful were hoarded
the longest, often being
passed down within families.
Coin Collection in Renaissance Times
Modern coin collecting,
where the coins are viewed as a
work of art as well as a
collection of valuable legal tender,
is widely thought to have
begun with Francesco Petrarca, or
Petrarch, who is often called
the father of the Renaissance. Although
there is reason to
believe that Roman emperors and
citizens paid prices higher than
face value for coins that were no
longer in circulation,
Petrarch was known to be an avid
collector, and often spoke of
his collection in his writing. During
the Renaissance, popes and
nobility began collecting coins
for their artistic and
historical value, and the name "the
hobby of kings" was born. So
popular was the pursuit and trade
of ancient Greek and Roman
coins in this time period, that
a brisk business in high-quality
counterfeits sprang into being.
Today, these counterfeits even
have a high value, due to their
age, quality, and historical
significance.
Coin Collecting in Modern Times Coin
collecting has been a
favorite pastime of many people
with a reverence for history,
including U.S. Presidents Thomas
Jefferson and John Adams. The
development of two large coin organizations
in the mid-to-late
1800s, the American Numismatic Society
(ANS) and the American
Numismatic Association (ANA), helped
spark American interest in
building and maintaining a coin
collection. Today, there has
been an explosion in American interest
in coin collecting, in
large part due to the ease and availability
of obtaining
interesting coins. The U.S. Mint
has successfully increased
interest in starting a coin collection
through the minting of
specialty coins, such as the bicentennial
half dollars released
in 1976 and the current release
of quarters commemorating each
of the fifty states.
Author: Charles Roman
About the Author
Coins and Coin Collecting http://www.coinsandcoincollecting.com
:
your guide to getting the very best
from your coin collection.
Favorite
Gold Coins To Collect For Investment
Why Gold American Eagle Coins are
Popular among Collectors
Gold coins are a favorite of coin
collectors with an eye toward investment.
Not only are golden coins lovely
to behold, but they also have a value that
is guaranteed, due to their precious
metal content. The value of gold coins is
usually higher than the value of
their weight in gold bullion, making them a
better investment than the gold
market alone.
Many countries produce gold coins
for collectors or for commemorative purposes.
These coins oftentimes emphasize
unique aspects of the country's culture.
Australia reveres its national animal
with the Gold Kangaroo, for example, while
China has a Gold Panda with a lovely
design that changes every year.
Canada's coin features a powerful
national symbol with the golden Maple Leaf,
and South Africa mints the Krugerrand.
One of the world's best selling coins,
the Krugerrand features the South
African national animal, the Springbok.
Taking its place as one of the most
popular gold coins among investors
and collectors, however, is the
American Gold Eagle. The American Gold
Eagle stands out among other bullion
coins because of its lovely design,
and because its value is backed
by the full strength of the United States government.
The Beauty of American Eagle Gold
Coins The Gold Eagle features a representation
of Lady Liberty striding with torch
in hand through a field of light rays on its front side.
This image is inspired by a golden
coin designed by Augustus Saint-Gauden and minted
from 1907 to 1933. The Augustus
Saint-Gauden Double Eagle is widely considered to be
one of the most beautiful coins
America has ever produced. On the flip side of the
American Eagle gold coins is a nest
full of bald eagles, the national bird of the United States.
The nest represents the American
dedication to unity and family. Furthermore, a special die
is used when minting these coins,
to bring the gold to an especially high shine and to make
it easier to see small details in
the design.
American Eagle Gold Coins have Guaranteed
Value American Eagle gold coins are valuable
not only for their lovely appearance,
but also because they are the only bullion coin whose
gold content is guaranteed by the
United States government. Each American Gold Eagle
is stamped with its exact gold weight,
as well as its face value. They are minted from
22-karat gold, which by law must
be pure gold bullion mined from within the United States.
This guarantee of the authenticity
of the precious metals used to make American Eagle
gold coins is highly valuable to
investors.
Buying American Eagle Gold Coins
Golden American Eagles were first produced in 1985
and come in a variety of sizes and
values, ranging from the 1/10th oz American Eagle
coin with a face value of $5, all
the way up to full ounce gold coins with a face value
of $50. Remember that most gold
coins are worth more than their legal tender amount.
Although they re not available for
purchase directly from the U.S. Mint, American Eagle
can be commonly found for sale in
coin shops, on the internet, by gold dealers, and at
coin shows. There are also variations
on the American Eagle that are minted from silver
or platinum instead of gold
Author: Charles Roman
About the Author
Coins and Coin Collecting http://www.coinsandcoincollecting.com
:
your guide to getting the very best
from your coin collection.
Do
You Have Precious Rare Coins In Your Purse Or Change Jar
A Guide to Rare Coins in Circulation
Today
It's usually a small thing that
turns regular looking money into valuable rare coins.
Last year's materials used instead
of this year's, a tiny symbol left off a minting die.
Collectors covet the unusual and
uncommon above all else, and these minor
oversights result in a very limited
number of coins. This means that supply is
much lower than demand, and even
something that looks almost exactly like
a common penny can actually be a
precious rare coin. Even more interesting
is that many of these rare coins
were released into circulation before anyone
realized that a mistake had been
made. Because not many people know what
distinguishes precious rare coins
from run-of-the-mill legal tender, these coins
can remain in circulation for decades,
until a lucky coin collector recognizes them.
How would you feel if you knew that
you had handed over a penny worth
$2,000 or more as change for a dollar?
This guide will help you recognize
a few exceptional American rare
coins that you just might have lying
around your house, shoved in a change
jar, or tucked away into a pocket.
Rare Coins with Mistakes in the Printing
One of the most common mistakes
that turn normal coins into limited
rare coins is a mistake in the printing.
In the case of a nickel minted in
1964, the problem happened when a plate
was cleaned too often, and a part
of one letter was worn away, leaving
the Jefferson nickel with the inscription
"E PLURIDUS UNUM." It took collectors
quite some time to catch on to the
misspelling of the word "PLURIBUS," but
now these limited nickels are highly
sought after. A similar problem resulted in
the 1970-S Atheist Cent, when the
motto "In God We Trust" was covered with
a blob of metal, causing it to read
only "In God."
Another common oversight is when
the mint mark, the tiny letter on most
American coins that indicates which
mint created the coin, is missing or incorrect.
Some rare coins with this mistake
include the The 1982 no-P Roosevelt dime. T
he Philadelphia mint used no mint
mark until 1980, when it started stamping
coins with tiny P's. Yet somehow,
a small number of dimes minted in 1982 were a
throwback to the time before the
mint mark, and bear no letter P. There were only
a few coins with this error, and
their scarce nature has made them valuable to
collectors. A similar problem happened
in Philadelphia a few years later, when the
P on the die of some 1989 quarters
was clogged with dirt, preventing the coins
from being properly stamped.
Rare Coins with Double Printing Minting
problems don't only involve the writing on
the coin. Sometimes a problem with
the die causes a coin to be double stamped
accidentally, resulting in a very
unusual form of rare coins. Some precious coins
with double stamping include doubled-die
Lincoln cents from 1972, 1983, and 1984,
and a doubled quarter minted in
New York in 2001.
Rare Coins with the Wrong Metals
Other than printing problems, another reason why
rare coins can be minted is when
the wrong precious metals are used to make the coins.
American coins have undergone several
changes in material. For example, during
World War II, pennies were made
out of steel, because copper was needed for
the war effort. Nevertheless, a
very few pennies were minted in 1943 out of copper instead.
These rare coins are worth upwards
of $200,000 today, and they look exactly like any other penny.
As you can see, sharp-eyed coin collectors
can really make a profit by keeping their eyes
for rare coins in everyday transactions.
Most people wouldn't look twice at a unique find
like a 1943 copper penny or a dime
that's missing a letter nearly too small to see.
By knowing what coins are limited
and rare, you could make an exceptional find just
sorting through your household change.
Author: Charles Roman
About the Author
Coins and Coin Collecting http://www.coinsandcoincollecting.com
:
your guide to getting the very best
from your coin collection.
The
PSE Centering Scale For grading Stamps
|
|
Four visually equal margins. Even after a careful examination, it will be impossible to pick a margin smaller than the other three. |
|
|
A Superb stamp will be extremely well centered, and it may take up to ten seconds to ascertain that the stamp is not perfectly centered. One side may be very slightly smaller than its opposite, though certainly not apparent unless the stamp is carefully studied. |
|
|
A stamp of this grade will be very well centered, and at first glance will appear very nearly perfect. It will typically require a few seconds of examination to determine which margin is slightly smaller than the others. |
|
|
The stamp will be well centered, though a brief examination will reveal that the stamp is slightly off center. All four margins will be generous in size for the issue. |
|
|
A Very Fine to Extremely Fine stamp will appear slightly off center in one or two directions at first glance, but will unquestionably be better centered than most examples. The margins will be full with room to spare. |
|
|
A Very Fine stamp will be off center on one or two sides, but the framelines will not be close to the edge on any side. All four margins will be unquestionably full, and well clear of the perforations. |
|
|
The stamp is noticeably off center with one or two sides significantly closer to the edge than the opposite side. But there is no question that there is white space between the frameline and the perforations. |
|
|
A stamp that is quite off center on one or two sides with the edge of the design approaching the perforations. While close, the frameline cannot be touching the perfs. Some white space must be visible, though it may be very narrow. |
|
|
The edge of the frameline just touches the perfs on one side, but the perfs do not cut into the design. |
|
|
The perforations cut into the design, and some portion of the design is lost. |
5
Reasons to Buy and Collect Certified and Graded Coins
by Robert L Taylor, JD
Why should a coin collector and investor buy and collect professionally
graded and certified coins?
Commonly called "slabs", they are housed in a protective plastic holder.
There are many companies -
over a dozen are less than 2 years old - which will put your coin in
a slab after Certifying that it is Authentic,
and assigning a Grade to the coin. The first reason for buying
and collecting Certified and Graded Coins
applies to all of theses companies. However, the most important
reasons apply only to the
Top Four companies: PCGS, NGC, ANACS, and ICG.
Reason No 1. To Protect Your Coin from Damage.
Visable Damage, which included anything from finger prints/oils to
being stepped on.
More importantly, Environmental Damage, including such things as exposure
to the air,
or the wrong kind of air, chemicals in the air, and touching other
objects (e.g.: certain plastics, liquids, food)
and other coins, which will change the appearance and even structure
of the coin. Damage causes loss of Value,
which means Your Investment. A slab is an air tight container,
and its purpose is Protection.
Reason No 2. To Establish Authenticity.
You want and need to know that your coin is not only the Real Thing,
but that it has not been altered
(changing a mint mark - fraud) or changed, for example by cleaning,
polishing, changing the appearance
or surface of the coin, in any way that would render yoour coin unfit
to collect. If it is Unfit to Collect,
there won't be many Buyers or Sellers. Many coins graded by lesser
companiers, end up getting
Rejected by one of the Top Four, for these reasons.
Reason No 3. To Establish Identity.
Is that 1909 Lincoln penny a VCB? Did you overlook the "S" mint
mark? Is it a Type 1 or Type 2?
These little identifying marks can mean the difference between a $20
coin, and one worth $35,000.
We all make mistakes and overlook or miss mint marks, details, and
certain other identifying factors
which make up "varities" of each coin. It is the professional's
duty to look for, and establish these
things to determine a coin's true Identity.
Reason No 4. To Establish the Coin's Grade.
A coin's Grade is what determines its Value. You want Good Value
when you Buy the coin.
You want to get what you pay for (or more) and not get cheated.
When you get ready to Sell or
Upgrade, you want to get the most for your coin. The Grade is
always an Issue when Buying and
Selling a Collectible Coin. Having the coin Professionally Certified
and Graded, virtually eliminates
this Issue, and the Arguments. The professional Grading Company,
is Your Netural Third Party.
Reason No 5. Trust and Credibility.
The Top Four companies are Consistent, Reliable and Trustworthy.
They have Established and
Respected Reputations. Their Standards are the Highest and the
Best. You are taking a Risk
when buying a certified and graded coin from any other company.
It is possible to buy and sell a coin that is Certified and Graded by
one of the Top Four, sight unseen,
and know exactly what you are getting. From a description of
the coin (e.g.: 1903 O, MS66, NGC, Morgan #034),
you know what you are buying, and what to expect. It always helps
to have a little description of the
coin's appearance, such as "white hot" or slight reverse toining",
since there is one limitation to selling a
Certified and Graded coin sight unseen: It is still possible
to buy and ugly coin.
But that is why we have scanners, fax and email.
Therefore, as a Coin Collector and Investor, always collect Certified
and Graded coins by one of the Top Four.
It is the most reasonable way to verify authenticity and identity of
every coin in your collection, as well as
to establish a reliable Value. Every source of prices for any
coin, be it a yearly book, magazine, a weekly
or monthly newsprint; all base their prices on the Grading Standards
of the Top Four grading companies,
which strictly follow the ANA guidelines. If the Grade of your
coin does not measure up to these
Standards, then you are only guessing at the Value.
About the Author
Robert Taylor is a 59 year old retired Lawyer, from Denver, CO, who
spent most of his career representing
people who could not afford an attorney, and who has had a passion
for collecting US coins, since the age of 6.
To share his Passion, he created http://www.ThePerfect-Coin.Com
featuring US Rare and Modern Dollars
(from 1878) and US Coins (from 1960), all Certified and Graded by NGC
or PCGS.
For Beginning Coin Collectors, he then created http://www.Beginning-Coin-Collecting.Com
featuring US Modern
Coins, from 1960, that are high quality BU, Certified Coins priced
less than $10.
The
Coin Grading System
by Robert L Taylor, JD
Coin grading is a term used to refer to the process of determining the
condition or quality of a coin, and its full identity.
It is essential to know what the grade is, of a particular coin, because,
as a general matter, the higher the grade of a coin,
the higher its numismatic value.
Coins are graded on a 0-70 point scale devised by Dr William Shelby.
The details can be found in the Official A.N.A.
Grading Standards for United States Coins published by the American
Numismatic Association (ANA). Under this method
of grading, the higher the point scale accorded a particular coin,
the better its quality.
The process of grading a coin is partly subjective and partly an art,
rather than a true science. Accurate grading requires
many years of skill and experience. However, determining an approximate
grade is possible for even the novice coin
collector. The basic point scales that define coin grades, are as follows:
1. Mint State Perfect Uncirculated (MS-70) Mint state uncirculated
coin in perfect condition, showing no traces of wear,
and no blemishes, scratches, handling or contact with other coins.
The best quality coin possible.
2. Choice (Gem) Uncirculated (MS-65-69) An above average uncirculated
coin which retains all of the original mint brilliance
or luster, and has a very few contact marks on the surface or rim,
which are barely noticeable.
3. Brilliant Uncirculated or BU (MS-60-64) An uncirculated coin
having no traces of wear but which has a few contact marks,
surface spotting or lacks some of its original luster.
4. Choice About Uncirculated (AU-55 & 58) A coin having
very light wear on only the highest points of the design but no
other defects and with most of its luster remaining.
5. About Uncirculated (AU-50) Coin has evidence of light wear
on many of the high points but at least half of the mint luster is still
present.
6. Extremely Fine (EF-40) The coin design is lightly worn in
most places but all the features remain sharp and well defined.
7. Choice Very Fine (VF-30) Light even wear on the surface and
highest parts of the design but most major features and the lettering are
sharp.
8. Very Fine (VF-20) Minor features such as some of the finer
hair detail, feathers, etc. will be moderately worn.
Shows moderate wear on high points of design. All major details are
clear.
9. Fine (F-12) Moderate to considerable even wear over most
features and the lettering.
A lot of the details are worn through but you can still see a good
deal of the design.
10. Very Good (VG-8) The entire design is weak, but a few details
are visible. Well worn throughout but coin rims still visible.
11. Good (G-4) Heavily worn but design and legend still visible
although quite weak in spots. Many details are gone.
12. About Good (AG-3) Very heavily worn with portions of lettering,
date and legends worn smooth and barely discernable.
About the Author
Robert Taylor is a 59 year old retired Lawyer, from Denver, CO, who
spent most of his career representing
people who could not afford an attorney, and who has had a passion
for collecting US coins, since the age of 6.
To share his Passion, he created http://www.ThePerfect-Coin.Com
featuring US Rare and Modern Dollars
(from 1878) and US Coins (from 1960), all Certified and Graded by NGC
or PCGS.
For Beginning Coin Collectors, he then created http://www.Beginning-Coin-Collecting.Com
featuring US Modern
Coins, from 1960, that are high quality BU, Certified Coins priced
less than $10.
How
Should I Store My Coins?
by Robert L Taylor, JD
There are two concerns when discussing the storage of coins.
First, the storage of the individual coin, and Second, the storage
of a group of coins, or an entire collection.
Storage of a Coin Collection
The Environment of the entire Collection, or Group of Coins is the
focus, taking into consideration Temperature,
Humidity and Light. A relatively constant, moderate to low temperature
and low humidity are preferable for long
term storage of numismatic collectibles. Placing packets of silica
gel, which absorbs moisture, in the coin storage
areas helps control atmospheric humidity. The less light, the better;
and absolutely no sunlight. This is why a safe
or vault is ultimate storage container; because it controls Temperature,
Light and Humidity, and provides Superior Safety.
Groups of Coins, or Collections are best stored in plastic coin boxes,
such as sold by PCGS, NGC and Whitman,
and which will hold 20, separated, “slabbed” coins, of any size. Another
alternative is a cardboard coin storage box
(single and double; red, blue or black), which stack easily on each
other. Different sizes are available for slabs,
as well as Vinyl and Cardboard Flips.
Storage of Individual Coins
Putting Individual coins into Holders is Imperative for all coins whose
condition is BU and above, or MS60 and higher.
Coins below these designations are considered “circulated” – because
they are found in the general circulation of money.
Typically this will mean they are found in pocket change, or in rolls
of coins purchased at a local bank. Although collecting
Circulated coins is a great personal challenge for many collectors,
the more serious Coin Collectors will concentrate on
“Uncirculated” coins (BU+ and MS60+) because of their better condition
(grade), value, and appearance.
Types of Containers or Holders.
Almost anything will do for coins with small or no numismatic value.
A coin that is worth only face value, is not likely
to have much numismatic value. while nearly airtight holders made of
inert materials are a better idea for valuable coins.
Bags, jars and boxes are adequate for raw pocket change and circulated coins.
Paper Envelopes or Paper Flips of various sizes (usually 2 x 2) are
still used for single coins. Be sure to use
envelopes made explicitly for holding coins, otherwise your coins may
change color (tone) over time due to
reaction with sulfur or other chemicals present in the paper. Since
the coin can not be seen, it is now out of favor with collectors.
Folders and Albums are sold primarily for series and type sets. Properly
used, they offer moderate protection
from wear and handling. Over the years coins may tone due to reaction
with sulfur or other chemicals present
in the folders and albums, and are therefore not a good choice for
long term storage of higher grade coins.
The coins are still exposed to light, air, chemicals and human touching.
Albums have clear plastic covers over
the coins, which slide in and out. This sliding action can leave unwanted
and unattractive marks on the coin.
Plastic Flips are available in various materials.
"Soft" flips were once made from polyvinyl chloride (PVC) which decomposed
over time with disastrous results for coins;
leaving a green appearance and substance. PVC flips are no longer made
and sold. Mylar, vinyl and acetate flips do not
contain PVC. While not airtight, they are reasonable choices for moderate
value coins that will be "left alone" for multiple years.
Vinyl Pages (8 ½ x 11) which fit into a 3 ring binder, are well
suited for Cardboard and Vinyl Flips, with great
visability of coin obverse and reverse. This is a Great Favorite.
Mylar-lined Cardboard Flips, often called "2x2s" or cardboard flips.
At one time, the most preferred and
commonly used, but also available in other sizes, are similar to plastic
flips. A coin is placed between the two
halves, which are then folded over and stapled together (some brands
contain an adhesive).
The boxes that they come in are ideal for multiple coin storage.
Tubes are plastic containers designed to hold a number of the same size
coins. They come in different sizes for
different coins. They are fine for bulk storage of circulated coins
and are appropriate for higher grade Uncirculated,
BU+ and MS60+ coins. A disadvantage is that the coins cannot be viewed
without being removed from the tube.
Hard Plastic Holders are preferable for more valuable coins. They are
self sealing, and not known to contain any
materials that harm coins and offer good protection against scratches,
touching and handling, air and chemicals,
and other physical damage. They are available for individual and small
sets of coins, and come in all sizes.
Slabs are Sonically Sealed hard plastic holders for individual coins.
They offer Excellent protection. Because of the
expense of having a coin slabbed, they are generally suitable only
for more valuable coins – i.e.: BU+ and MS60+ Coins.
Although generic slabs are available, most often, a slab will be seen
holding a coin that has been Professionally Certified
and Graded - which has tremendous advantages. The biggest advantage
is when buying a coin on the Internet or by phone.
You know what you’re getting. A coin Certified and Graded by one of
the “Top Four” gives reliability, assurance and security.
A big advantage over the scam sellers of raw coins.
About the Author
Robert Taylor is a 59 year old retired Lawyer, from Denver, CO, who
spent most of his career representing
people who could not afford an attorney, and who has had a passion
for collecting US coins, since the age of 6.
To share his Passion, he created http://www.ThePerfect-Coin.Com
featuring US Rare and Modern Dollars
(from 1878) and US Coins (from 1960), all Certified and Graded by NGC
or PCGS.
For Beginning Coin Collectors, he then created http://www.Beginning-Coin-Collecting.Com
featuring US Modern
Coins, from 1960, that are high quality BU, Certified Coins priced
less than $10.
The
Grade of a Coin Is Everything
by Robert L Taylor, JD
So You Are a Coin Collector!
Tell me: Are You Still Collecting Raw Coins?
Take any Coin in Your Collection, and Tell Me: What it is Worth?
To do so, you have to make a Decision about
the Grade of the Coin. I will Assume that You are an Expert at Grading
a US Coin, so, you have arrived at the
correct Grade for the Coin You Selected. Obviously, the Grade Determines
the Value or Worth of the Coin.
And, Once you have the Grade of the Coin, Any source for the Price
or Worth of a Coin will Tell You the Value.
(e.g.: greysheet, Red Book, Black Book, Coin World, etc.) Whether you
are Getting Ready to Place a Book
Value on Your Collection, Getting Ready to Upgrade or Sell one coin
from Your Collection, or Getting Ready to
Buy or Upgrade a new Addition, the Grade of the Subject Coin is All
Important.
The Grade is Everything. Nothing Matters More than the Grade of a Collectable
Coin.
Now, assume that You are Selling this Coin, and Represent it to be the
Grade You Decided Upon. You have
Priced the Coin According to a Reliable Price Guide. What percentage
of all Coin Collectors will Accept and
Believe the Grade You Assigned, even if They could Examine the Coin
In Person?
Probably a Majority! Why? Because the Grade of a Coin is the Most Important
Identity Factor. This is True,
Whether Buying or Selling. If the Grade is not True, or Correct, then
Money Will Be Lost – Lost to the Seller
if the Grade is too Low; Lost to the Buyer if the Grade is too High.
There is nothing wrong with Buying and Selling Raw Coins. Even if they
may come from pocket change or bank rolls.
But once you Decide to Make them part of your Collection, they need
to be Graded by an Independent Professional
Coin Grader. This is so because You Need to Know the Value or Worth,
of each coin, as well as the Total Collection.
But, you say, its Only my Personal Collection, and I am not going to
Sell it now, or ever. Great, I say, but do you also
Never plan on Upgrading any of those Coins? Whenever you want to Sell
a Coin in your Personal Collection, you have
to Sell it with a Grade and a Price. This means you have to Represent
to someone else, the Grade of the Coin. You Must Do
this because you have to put a Price on the Coin. When that Coin has
been Professionally Certified and Graded, you have
Eliminated the Biggest Argument Point. Knowing the Grade Makes Everything
So Much Easier.
The Price is a Given once the Grade is Established.
Dreaming about owning a Coin with the Highest Grade in any Class, as
we flipped through the pages of our Red Book,
has occurred to every one of us from the Start of our Coin Collecting
days. Each one of those “Dream Coins” Passed the Test,
and met the Requirements of the Coin Grading Guide established by the
ANA (American Numismatic Association).
What most Coin Collectors don’t realize is that there are only four
(4) Companies who offer Independent Professional Coin Grading,
and Follow the ANA Official Grading Standards For US Coins. These Companies
are: 1) PCGS; 2) NGC; 3) ANACS; and 4) ICG.
These are the companies to be used when those Raw Coins need to be
Graded. Get the Highest Price for Coins You are Selling.
Get the Best Price for Coins You are Buying; and Get an Accurate Appraisal
of Your Collection. Collect Certified and Graded Coins!
Don’t Play Games with Buyers and Sellers over the Grade of a Coin.
Know the Grade of Your Coin!
About the Author
Robert Taylor is a 59 year old retired Lawyer, from Denver, CO, who
spent most of his career representing
people who could not afford an attorney, and who has had a passion
for collecting US coins, since the age of 6.
To share his Passion, he created http://www.ThePerfect-Coin.Com
featuring US Rare and Modern Dollars
(from 1878) and US Coins (from 1960), all Certified and Graded by NGC
or PCGS.
For Beginning Coin Collectors, he then created http://www.Beginning-Coin-Collecting.Com
featuring US Modern
Coins, from 1960, that are high quality BU, Certified Coins priced
less than $10.
What
is “Key”, When Collecting Coins?
by Robert L Taylor, JD
Key Coin is a coin that is among the toughest and Most Expensive to
obtain within a series.
In the Lincoln Cent series, for example, the 1909-S VDB would be considered
the key, as would the 1914-D and
often the 1922-Plain. Of course, a Coin may become the Most Expensive
due to Scarcity and Rariety, both of which
have to do with how Few there are in existence. A coin somewhat
lesser in stature (and perhaps condition) but still
among the tougher in a series to collect is called a semi-key; the
1909-S and 1931-S fulfill this role within the
Lincoln Cent series for many collectors.
The Concept of “Key” may also apply to the Type or Purpose of the coin
collection, rather than the individual coin.
For example, if a collector is putting together a collection of Walking
Liberty Half Dollars, without regard to the
Condition of the coins, then the “keys” are the 1921, 1921-D, and 1916-S.
But if the Collector is putting
together the same set in Gem BU Condition, the 1919-D and 1921-S would
be considered the “keys” and the
1916-S likely would not. Also Key Date may be a replaceable term.
Certain Sellers use the term “Key Date” to generate interest in a coin,
whose date may be “Key”,
however, the condition of the coin is usually less than desirable.
Pay Attention!
About the Author
Robert Taylor is a 59 year old retired Lawyer, from Denver, CO, who
spent most of his career representing
people who could not afford an attorney, and who has had a passion
for collecting US coins, since the age of 6.
To share his Passion, he created http://www.ThePerfect-Coin.Com
featuring US Rare and Modern Dollars
(from 1878) and US Coins (from 1960), all Certified and Graded by NGC
or PCGS.
For Beginning Coin Collectors, he then created http://www.Beginning-Coin-Collecting.Com
featuring US Modern
Coins, from 1960, that are high quality BU, Certified Coins priced
less than $10.
What
Coins Should I Collect?
By Robert L Taylor, JD
You should collect what you like and enjoy. This is Your Dream. Design it any way you want.
Never-the-less, . . . decide on Foreign coins or US Coins; and Proof
or Mint State. If US, then decide upon
a Denomination: penny, nickel, dime, quarter, half dollar, dollar or
other.
Or, decide upon a particular Period in History, e.g.: Morgan Dollars
(Lady Liberty, Following Civil War),
Peace Dollars (Following WWI), War Time Cents (Steel and Shell Casing
- WWII), War Time Nickels (Silver - WWII),
Silver quarters and dimes – pre 1965; Statehood Quarters; 20th Century;
19th Century.
Or decide upon an Historical Figure; Kennedy Half Dollars (Following
his death), Lincoln Cents; Washington Quarters;
Franklin Half Dollars; Eisenhower Dollars, Susan B Anthony Dollars,
Roosevelt Dimes; Sacagawea Dollars.
You can also choose Type Sets, Year Sets, Mint Sets, Proof Sets and
Decades.
The Next Step is to decide upon the Quality of Coin you want to collect.
Your choices are: a) pocket change; b) bank rolls;
c) US mint and proof rolls/sets (new and used); d) Buy from Coin Shows
and Clubs; e) Buy on the Internet; f) Buy from dealer;
g) Buy from a coin magazine or ad. Each has their benefits and advantages.
Pocket Change and Bank Rolls provide circulated coins.
The US Mint provides uncirculated “Mint State” and “Proof” coins, but
only on a yearly basis. The Internet provides the
Greatest Selection from private Web Sites (e.g.: www.ThePerfect-Coin.Com)
to the big Auctions like eBay, Yahoo,
Heritage and TeleTrade. And With the advent of PayPal (free) it becomes
very easy to pay for purchases over the Internet and by Phone.
The one thing that is important in all of the above choices is the Grade
of the Coin, which is closely related to Value
(another article). But which leads to the next choice: Buy Slabbed
or Raw? Raw coins are what you find in pocket change.
Slabbed coins are those that are Professionally Certified and Graded
by an Independent Third Party. The coin is then
placed in a “slab”, made of plastic, identified, labeled and sealed.
It actually takes 3 Professionals to decide upon the
Grade of a Coin. If Buying Raw Coins, You need to Know How to Grade
a Coin. Even then, there will be disputes
about the Grade. If Buying a Slabbed coin, You Know the Grade. The
Grade Becomes Virtually Undisputable!
All references to Price in any resource are Based on Grading, which
follows the Guidelines set by the ANA – American
Numismatic Association. Currently, there are only Four Companies that
are Recognized for Strictly following these
Guidelines: PCGS, NGC, ICG and ANACS. It is from these Professionals
that one should buy slabbed coins.
Buying Slabbed Coins is the First Rule of Serious Coin Collecting.
Obviously, one will be very limited in the years, mints, and varieties
available from pocket change and bank rolls -
both being local in nature. Even if starting with these means of collecting,
always keep an open mind the other resources.
So, a little future insight helps to decide that better resources will
yield better coin collections. Most collections will span
a greater range than either pocket change or bank rolls will produce.
It is therefore imperative to investigate other resources.
Your budget will usually determine the Grade of coin that you can afford
to collect. MS63-MS65 is an Ideal range for
Collecting, because of the excellent condition and detail of the coins,
but also the greater availability, lower costs, and
because coins in this range tend to Appreciate faster than other Grades.
Lastly, decide whether to collect all of the coins in your Group – including
varieties and errors – or just the regular
issue coins. Errors and Varieties can become extremely expensive and
difficult to find. Most people will avoid them.
There is one more item to decide, but it is very simple, and it has
to do with the quality of the coin – or how
much you want to Spend per Coin - for an average coin, for an exceptional
coin, or a perfect coin. Your budget
will usually determine this factor, or, how much per month you can
spend for your new Investment. Think of it as a Fund.
You are trading Money for . . . Money that Grows! Properly attended,
this Fund can quite possibly put someone through college.
This Concept is critically important because most people shy away from
spending a little more, just to get the best.
And I am talking about the best in quality of coin, no matter what
the Grade. In other words, get a Coin with the
Grade it is Supposed to Have. This is the Only way to be sure of the
Value of the Coin. Spend your Money Wisely.
Get what you pay for. Until you become a Professional at Grading, rely
on the Professional Graders.
Whether you choose to collect Kennedy Proof Half Dollars, or Jefferson
Nickels from pocket change,
Or, thanks to the Internet and Private Web Sites, you will find a huge
selection available to give your Coin Collection a boost.
But Always Know Your Grade!
About the Author
Robert Taylor is a 59 year old retired Lawyer, from Denver, CO, who
spent most of his career representing
people who could not afford an attorney, and who has had a passion
for collecting US coins, since the age of 6.
To share his Passion, he created http://www.ThePerfect-Coin.Com
featuring US Rare and Modern Dollars
(from 1878) and US Coins (from 1960), all Certified and Graded by NGC
or PCGS.
For Beginning Coin Collectors, he then created http://www.Beginning-Coin-Collecting.Com
featuring US Modern
Coins, from 1960, that are high quality BU, Certified Coins priced
less than $10.
Understanding
Coin Price Guides
by Robert L Taylor, JD
There are many coin price guides published; weekly, bi-weekly, monthly
and annually.
They come in the form of magazines, newsprint, “hot sheets”, and books.
All of us have referred to one of
these from time to time to ascertain what a particular coin might be
worth. Yet, few of us stop to think about
what we are getting from any one of these Price Guides, beyond the
price or value of a coin.
After all, don’t price guides, just give you the price? What else is
there?
Basic to an understanding of price guides are two things: 1) the Grade
of the Coin; and 2) the Foundation of the price guide.
Knowing the Grade of the Coin is required before one can begin. Saying
so seems to be obvious, but what more does it mean?
Unless the coin is Graded by an appropriate Professional Grading Company,
which has designated what Grade and
Identity has been assigned to the coin, most of us are making an assumption
about the actual Grade. This assumption
we make can be very dangerous because of: a) the difficulty in grading
a coin; and, b) the different possible outcomes
or results that occur. One Grade “point” or level can make the difference
in hundreds or thousands of dollars in the Value of a Coin.
Price Guides assume that YOU already Know the Grade of the Coin. This
is why we have the First Rule of Coin
Collecting: Know the Grade of Your Coin.
Secondly, ALL Price Guides are founded on the same Principle, which
is that the Coin, whose price you are looking up,
has been Graded using one Grading Standard. That Grading Standard is
set by the ANA – American Numismatic Association –
and is entitled the Official Grading Standards For US Coins.
Therefore, ALL Price Guides have a “silent assumption” built in to their
guide; which is that the Grade that YOU decide upon,
is True or Accurate, and that such Grade is based on the ANA Standards.
The first difficulty that arises is that most people never know if the
Grade that they have decided upon is Accurate.
Of course, this difficulty never comes into question, if the coin is
Professionally Graded by an appropriate company.
There are only four (4) reputable Professional Grading companies that
strictly follow the Guidelines set by the ANA,
and they are: PCGS, NCG, ICG, and ANACS.
The second difficulty arises because of this “silent assumption” or
Foundation of all price guides is whether or not the
Grade decided upon, was made using the Guidelines or Standards established
by the ANA. If you don’t have the skills
and training of a professional coin grader, the decision on the grade
is probably questionable.
Even if you do have the skills and training of a professional coin grader,
the decision is still probably questionable.
Why? Because even professional coin graders have differing opinions.
This is why the reputable professional coin
grading companies require the opinions of three (3) professional coin
graders to arrive at the “Grade” designation to be placed on every coin.
The obvious conclusion is that a Serious Coin Collector is going to
invest in rare and modern coins that are graded by
one of the Top Four reputable Grading companies. It is the only certain
way to eliminate the disagreements and arguments
about the Grade of Any coin being Bought or Sold! It is the only certain
way one can Value their coin collection.
It also eliminates “getting taken” or cheated buying raw coins.
About the Author
Robert Taylor is a 59 year old retired Lawyer, from Denver, CO, who
spent most of his career representing
people who could not afford an attorney, and who has had a passion
for collecting US coins, since the age of 6.
To share his Passion, he created http://www.ThePerfect-Coin.Com
featuring US Rare and Modern Dollars
(from 1878) and US Coins (from 1960), all Certified and Graded by NGC
or PCGS.
For Beginning Coin Collectors, he then created http://www.Beginning-Coin-Collecting.Com
featuring US Modern
Coins, from 1960, that are high quality BU, Certified Coins priced
less than $10.
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