Design Types of US Coins and Coin Collecting

Gold coin

Coin collecting is a fun hobby that anyone who has the time can do. A coin’s history and its development can be learned by collecting them.

At one point in time, between 1838 and 1933, the United States issued gold coins for circulation. The Liberty Head bust was used as the design until 1907. The design was then changed to the Indian Head and Saint Gaudens motifs until 1933 when the “Great Depression” started. This prompted the recall of the coins which makes it very rare to find any of them today.

The most valuable coin in the world is the 1933 Double Eagle. This was a $20 gold coin that was made in the 1800’s after the California gold rush. This coin was not allowed to be used in the 1930’s and when this coin was auctioned in 2002, it sold for nearly eight million dollars.

Since gold coins are hard to find, most collectors select other coins.

One type of collection you might consider is the one made up of coins that are flawed when the coin was minted. If you can find a coin with a misspelled word, a wrong date, off-center characteristics, or double-punched marks, these coins are valuable. Such mistakes can increase a coin’s value from $50 to a $1000.

Coins that were only issued or circulated for short period of time also make good collectibles.

Photo credit: rclatter / Foter / CC BY-NC-SA

A coin collection is at its best if it is focused on a certain coin. A collector can choose from pennies, nickels, dimes, quarters and dollars.

Another way of collecting is disregarding the types of coins but concentrating on a certain time period. Coins have different mint marks and collecting those that were struck in the same location can also be interesting. The important thing for hobbyists is to stick to the collection until it has been completed.

For a good start subscribe to a coin publication such as Coin World or Coinage Magazine for information on the types of coins that you might want to collect. The internet or a local coin shop can also help expand the search for those coins that can’t be found in your locale or out of state.

Building a coin collection will take a long time – months or even years. The United States has produced so many coins that it is hard to keep track of them. By deciding on the coin(s) you want to collect, the challenge to complete that collection begins.

America the Beautiful Quarters 2016 Silver Proof Set

This is a beautiful set of 90% silver quarter proofs.

U.S. Mint proof coins feature sharp relief and a mirror–like background. Their frosted, sculpted foregrounds give them an exceptional cameo effect. Proof blanks are specially treated, polished and cleaned to ensure high quality strikes. The blanks are then fed into presses fitted with specially polished dies and struck at least twice to ensure sharp relief. The coins are then packaged in a protective lens to showcase and maintain their exceptional finish.

The 2016 edition of the America the Beautiful Quarters Silver Proof Set features the seventh annual release of five quarters in the series.

Each coin in this series features a common obverse (heads) with the 1932 portrait of George Washington by John Flanagan, restored to bring out subtle details and the beauty of the original model. Inscriptions are “UNITED STATES OF AMERICA,” “LIBERTY,” “IN GOD WE TRUST” and “QUARTER DOLLAR.”

The 2016 reverse (tails) of these coins honor the sites below with the following designs:

  • Shawnee National Forest in Illinois
  • Cumberland Gap National Historic Park in Kentucky:
  • Harpers Ferry National Historical Park in West Virginia
  • Theodore Roosevelt National Park in North Dakota
  • Fort Moultrie at Fort Sumter National Monument in South Carolina

 

God, Guns, and Gold DVD

God, Guns, and Gold

God, Guns, and GoldYou may already own guns.

You may already own gold.

But either way… you’ll definitely want to hear Joe McDurmon’s rousing case for God, Guns, and Gold!

You may even want to get an extra copy to give to your friends. After all, most Christians are NOT familiar with the material McDurmon covers…

…and they could benefit greatly from his teaching. (Possibly even remove the guilt some Christians feel about owning guns.)

Picking Silver Dollars For Your Coin Collection

seated_liberty_dollarPicking silver dollars for your coin collection can be a time consuming process. You have to find a place that sells silver dollars and then you have to painstakingly browse through the available coins that they might have. It is possible that the one silver dollar you need to finish off your coin collection might be difficult to find or be extremely expensive.

peace_dollarThere are other great ways to find silver dollars for your coin collection though. Try browsing through the coins that might be available on an internet auction site like eBay. Instead of being limited to just the coins that one particular store has, look through a whole bunch of coins. Maybe you will be able to locate the one that you need at a reasonable price.

Make sure to pay special attention to items that you do buy online. Pictures can be deceiving and you do not want to be disappointed when your silver dollar arrives for your coin collection.

Reasons To Add Silver Dollars To Your Coin Collection

morgan-dollar
One great reason to collect silver dollar coins is because they can be worth a great deal of money. The price of silver has gone up quite a bit which has directly affected the cost of silver coins. As the price of silver continues to go up the value of the coins that you have will appreciate over time.

Another great thing about collecting silver dollar coins is that they always have a value. You can always buy something else with the silver dollar in your collection whereas you can’t simply walk into a store and buy a pack of gum with an action figure that you have been collecting.

silver-american-eagleSilver dollar coin collections are great to pass down through generations. Start collecting all of the silver dollars that you can get and then pass it on to your child. They can add more coins to the collection including the most recent coins as well. Eventually someone is going to have a pretty impressive collection of silver dollar coins that is going to be worth a great deal of money.

Whether you are collecting gold coins or silver, it is fun. Watching your collection grow over time can be extremely satisfying. While it might be tedious to get started with a silver dollar coin collection over time you will grow to love it. Looking at the little details of the silver dollars will be fun instead of a strain on your eyes.

Ron Paul Silver Commemorative and Silver Barter Round

Some of my favorite silver coins are the silver 2008 Ron Paul Commemorative and 2009 Ron Paul Barter round from the Freedom Mint.

2008 Ron Paul Commemorative
Ron Paul Silver CommemorativeThe frontside of this piece displays the engaging image of Dr. Ron Paul during his historic 2008 Presidential Campaign. The outer ring of design declares Ron Paul is the “Champion of the Constitution” and commemorates the beginning of his “Campaign for Liberty”.

Ron Paul Commemorative BackThe backside displays the stunning imagery of the US Constitution rising over the Earth, behind a rising sun symbolizing the restoring of the republic. The Latin phrase below the words “Restore the Republic”, “Erudio, Strenuus, Restituo”, translate to: “Educate, Activate, Restore”.

More on Ron Paul Silver Commemorative and Silver Barter Round

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. To 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

  • 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.
  • 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.
  • 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.
  • 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.
  • 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.

Collecting Gold Coins

Coin collecting is something that dates back to when coins were first issued for trade. It was only in the Middle Ages that people turned this into a hobby because of the art work and the historical value.

Coin collecting today is still a hobby that many people enjoy. One of the most precious and most expensive collections that anyone can ever have are gold coins. The most expensive gold coin ever bought was worth around eight million dollars. This was the American 1933 Gold Eagle. This is why the collecting of gold coins deserves to be called the hobby of kings.

Liberty Gold CoinGold coins were one of the oldest forms of money, later followed by silver coins. Gold coins were in circulation in the United States from 1838 to 1933. The design was the Liberty Head bust made until 1907. The design was then changed to the Indian Head and Saint Gaudens motifs and was used until 1933 when the Great Depression began. This prompted the recall of gold coins which makes them very difficult to find today.

Since these coins are no longer in circulation, the price for one of them can reach quite high. Gold is also now used for other things such as jewelry or bars that people retain as an investment.

South Africa minted its first gold coin called the Krugerrand in 1967. This coin has no face value but merely stands as a symbol. It is made of 1 ounce of gold and can be purchased for investment purposes.

Since then other countries also minted bullion coins. Canada made the Gold Maple Leaf in 1979 and Australia made the Nugget in 1981. These two are much more popular than the South African coin because of its 24 carat purity.
gold-eagle

The American Eagle gold bullion series debuted in 1986. The obverse was originally designed by Augustus Saint Gaudens for the 1907-1933 $20.00 U.S. Double Eagle. The reverse features a nest of American Eagles, signifying the strength and security of American families. Its stately appearance and proud symbolism make the Gold American Eagle one of the world’s most popular gold coins.

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A lot of people retain gold today as an investment because they speculate that the demand will cause its market value to increase. Others hold it as a form of insurance should the financial situation become worse. As more paper money is printed by the FED, each of those Federal Reserve Notes looses more of its value and the value of gold and silver soars. Since the U.S. closed its gold window in 1971, the FED has produced more and more paper currency without regard to the value of gold.

Buying Assets on Sale

The Game of Monopoly is the textbook or blueprint that provides individuals with a plan to become financially free. Since most people only see Monopoly as a game, they may miss many of the real life lessons it can teach. For example, what does Monopoly teach you about your salary and money? The first space in Monopoly says, “Collect $200 salary as you pass Go”. The question is, “how should you view this money and what should you do with it?”

More on Buying Assets on Sale

Beware of Certificates of Confiscation

Treasury instruments have been, are and most likely always will be certificates of confiscation. The saving retirement calculators are almost guaranteed to fail because of this uncertainty. Here is a visual explanation so you can understand the math.

Read more Retirement Accounts Could Boost Treasuries

Be Safe When Buying or Selling Coins to a Dealer

Coin collecting can be a lot of fun. This hobby which dates back to 2500 BC is much larger now since people are now able to collect currencies from other countries.

If a person decides to buy or sell some of the coins for their collection, it is necessary to know its value by looking at a coin catalog or price guide. There are many ways to do this and one is looking for a coin dealer to do business with.
More on Be Safe When Buying or Selling Coins to a Dealer

How to Destroy the Dollar

Ron PaulRon Paul recently told Newsmax why he has called for abandoning the Federal Reserve System and returning the nation to a gold and silver standard.

“It’s not so much that gold is perfect, it’s that paper is insane. To give politicians and bureaucrats and secret bankers the license to counterfeit money and create money out of thin air is destined to fail, and it has. That’s why we’ve had this financial bubble develop since the linkage to gold has been severed in 1971…

“Now they’re trying desperately to print and spend, but the bubble was overwhelming and the bursting of this bubble is something they can’t contain. It would never happen under a gold standard because there would be no legal right for our central bank to spend money and create money out of thin air. The arrogance of it all is unbelievable.

“If we continue doing what we’re doing now, we will literally destroy the dollar.”

Collecting Silver Coins is Fun and Profitable

Accumulating things seems to be the human condition. People collect all sorts of things for a variety of reasons. Usually, it’s because they either enjoy the things they collect or they believe their collection will have greater value in the future.

Well, if you’re going to collect something… why not collect real money?
1804_dollar_obverseSilver and gold have always been something of value that has been used as money throughout the ages. In fact, silver has been deemed the official money of the United States as mandated by our Constitution. True, many believe their fiat paper money is the official American currency, and it has been pretty successfully passed off as that. However, it’s value has been debased since the Federal Reserve began printing it and its value continues to decline.
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This Is Not A Test

The Emergency Broadcast logo flashes up on your TV screen.

You try to click off but it’s on every channel..

You start to realize… this is not a test. This is Real

A News Anchor comes on screen and in a shaky voice says… “At 9:15 this morning, the U.S dollar Collapsed… I repeat the dollar has Collapsed.”

The entire infrastructure of America is now a prime target of opportunity for ANY attack. The T.V. suddenly shuts off; moments later, your entire neighborhood goes dark.

EarthquakeDamage-FSS-300x250You’re going to be OK though.

This is the moment you’ve prepared for… Right?

The signs are all around us and if you don’t know what you’d do then you owe it to yourself to get this free report right now.

You can access it right here.

This is the time to take action.

> Access it before it’s too late. <

Silver’s On Fire…But For How Long?

Have you seen the price of silver the past few days?

silver kilo barYep, it’s going up with prices hitting another 22-month high near the $20 level.

Many pundits are saying the price increase of silver and gold are a reaction to the Brexit vote, where Britain voted to leave the EU.  I, on the other hand, think the price increase is because… wait for it…

That’s what silver does.

Prices go up, and prices go down.  It really doesn’t matter to me.  What’s important is that you should be accumulating as much of the precious metals as you can.  There will come a time when the currency crisis hits a point where the price for silver and gold will go astronomical.

One nice feature of accumulating silver and gold with OwnX is that every so often, I will exchange some of what is in my depository for physical metal.  I think it’s important to be diversified in my holdings, and having physical metals is a real comfort.

Create your OWNx account to gain access to direct ownership of physical gold and silver today.

U.S. Mint Ups Allocation of Silver Eagle Coins

Silver EagleThe U.S. Mint has increased its weekly allocation of American Eagle silver bullion coins. “The U.S. Mint has 2,204,500 ounces of American Eagle silver to allocate this week,” says a memo from the Mint. Previously, the Mint had been allocating 1 million ounces weekly, an official says.

By Allen Sykora of Kitco News; asykora@kitco.com

A Look At Gold As the Standard for Currency

When you hear the term ‘gold standard’, you are likely hearing about the International Gold Standard. This was established in the late 1800s after a silver crisis in England which ended with the U.S. suspending all silver payments. In 1871, the first gold standard was established by Germany, and within three decades, nearly all countries with big economies had established similar systems.

With the onset of the First World War, the gold standard reached an initial crisis. Britain had moved from it to a fiat standard, due to the huge cost that was involved in fighting the war. With the Treaty of Versailles, which set conditions for Germany’s surrender, Germany was forced to turn over (as reparations), the bulk of its gold supply to the winning countries. This left Germany without enough gold to maintain it, thus giving them no other option than to switch to a fiat currency system.

The U.S. and most other major economies abandoned the gold standard by the mid Twenties. The official demise of the standard came in 1933 when those nations using the gold standard failed to come to an agreement on the value of gold. Following WWII, the Bretton Woods Agreement would govern the value of currency, until 1972, when the free-floating currency era began. Gold lost its status as the basis for reserve accounting for central banks.

The gold standard, initially, allowed for the expansion of trade around the world, but it was problematic. Gold supplies grew much more slowly than the global economy, which made the gold standard highly deflationary. For example, in the U.S., periods of deflation that lasted for as long as fourteen years were seen when the economy switched to the it. It is also possible for local distortions of value to be realized. Such was the case when the Irish found it more profitable to export potatoes to England rather selling them domestically, which led to what became known as the Great Potato Famine.

What The Gold Price Means To A Nation

Gold coinNowadays, it is possible to obtain the latest gold price by reading the financial press as well as from network news programs, though for more than two decades this was something that hardly elicited any interest, leave alone being reported. Mostly, the gold price was either quite steady or it kept falling; things have changed since then, and since 2001, there has been quite a lot of interest been shown in gold price which has been heading north resulting in the price reaching more than one thousand dollars per ounce, and many more people are finding it an attractive investment to make.

Depends On The Strength Or Weakness Of The Dollar

The gold price is directly related to how strong or weak is the US dollar, and the steady upward movement of gold price from around two hundred fifty dollars in 2001 to the present levels of more than one thousand dollars has made gold very attractive to investors as well as speculators. However, even though many people have made money through this means, it should not be taken for granted that gold, when purchased, will definitely be a sound investment because you won’t earn interest on it and the quality is fixed as well making it static and not like other good investments.

What you can be sure of is that the gold price will only change according to how cheap or expensive is the paper money that we use which is in this instance the US dollar. Thus, purchasing gold is more to do with having some form of protection against a currency that is going to depreciate rather than being a great investment.

Dollar CollapseSo, it is safe to say that when the gold price shoots up, there is reason to be concerned about the future of the major currency, and if the gold price is especially high, then there is even more reason for concern about the paper money’s value. At present valuation, the gold price fetches over one thousand dollars per ounce as compared to the twenty dollars it took to buy the same amount of gold way back in 1934.

Also, the gold price which is going upwards really shows a lack of confidence in the central bank as well as the paper currency, and the gold price that we are witnessing today reflects a certain uneasiness with the increased supply of money and also the deficits in budgets as well as in trade as too for liabilities that are not funded, and most of all, the inability of the country’s governing bodies to bring runaway spending back to control.

Types or Specialties of Coin Collectors

If you are a coin collector, how do you categorize yourself?

There are various ways to collect coins as well as the specialties of collectors. Here is how to differentiate the variety of coin collectors.

coin collectorThe Casual Coin Collector: The Most Common One

You will know that you are a coin collector if…

  • you collect coins no matter what your age
  • you collect coins randomly just for the fun of it
  • you do not pay much money for the preservation and purchase of coins
  • you will collect some coins that are already obsolete, those that have been modified and are used my magicians, commemorative coins, those with errors, or those that are out of circulation
  • your collection is made more interesting because of the coins given to you as gifts

The Curious Collector: The Second Level

You will be able to recognize yourself as a curious collector if…

  • you are more interested in coin collecting than simply collecting them because you received them as gifts
  • you don’t mind buying coins, especially if they are inexpensive
  • you are more interested in browsing coin shops than a casual collector
  • you spend time surfing the net looking at coins sold on eBay or other coin sites
  • you collect coins without a clear-cut objective
  • you are inclined to increase your knowledge of coins and might soon contemplate becoming an advanced coin collector as you establish contact with more serious collectors who might inspire you

The Advanced Collector: The Extreme Collector

You can categorize yourself as an advanced collector if…

  • you find yourself smitten by the “Hobby of Kings”
  • you are either a “generalist” (a collector who wants to obtain a wide variety of coins) if you can to obtain an amazing collection you’re your available resource; a “completist” (a collector who wants to collect a complete set of a specific type)
  • you lack resources and will opt for a smaller number of coins to complete a set, if you are a “completist”
  • as a “completist”, you prefer collecting coins from a certain historic period, nation, or you prefer collecting tokens or coins with errors.

No matter what level of coin collecting specialty you choose, it is your choice. What is important is that you find it rewarding and fulfilling.

So, have you found your category yet?