October 2017 Archives

Starting A Silver Coin Collection

Starting a silver coin collection is a great hobby that you will quickly find yourself addicted to. There are numerous different coins that can be collected so it is a good idea to pick something like silver coins to focus on when you are just getting started. This will prevent you from getting overwhelmed.

When most people think about silver coins they assume this includes all nickels, dimes, quarters, half dollars, and dollars. They are all silver in appearance so it is not hard to imagine why people would think of them in that regard. In reality, many of these coins are not really silver at all. In fact, most of the coins produced today do not contain any silver at all. Because of a critical silver shortage in 1965, Congress passed the Coinage Act of 1965, which authorized the removal of silver content from circulating coinage (except for the Kennedy half dollar) minted after December 31, 1964, replacing it with a clad composition of 75 percent copper and 25 percent nickel.

In order to determine the types of silver coins for your collection that are available you will need to do a little research first. Spend some time getting to know the different types of coins that are out there and then learn the details connected with each one. Understand the levels of grading that are associated with each coin to help you get a better understanding of the overall value that each coin has.

Different Types Of Silver Coins You Can Collect

franklin_halfHalf dollars are great silver coins to collect. The United States Mint began producing this coin way back in 1794 which were then called the Flowing Hair Half Dollars. Several different varieties of the half dollar were minted between 1794 and 1964. During this time period these coins were made out of 90 percent silver.

Many people will find that collecting the earliest half dollars will not be an easy task. Coins from the 1700s and 1800s are likely to be pretty worn out which decreases their value. Even in this worn out condition old silver coins like this can still cost a small fortune.

1804_dollar_obverseAnother popular silver coin to collect is the dollar. Just like the half dollar, production of the silver dollar began in 1794. There are a variety of different versions of the dollar and up until 1971 they were produced with a large amount of silver in them.

eisenhower_dollarWhen the United States Mint began producing the Eisenhower Dollar in 1971 they stopped using silver as its key ingredient. There were a few years where the mint produced special versions of this dollar but they were limited in release and aimed specifically towards silver coin collectors.

 

Tips for Buying Bullion Coins

Bullion coins may have high values because they are not only limited; but also they may have been found in shipwrecks, or they may come from the ancient times. For these reasons, bullion coins are favorites among many collectors.

Ron Paul Silver CommemorativeSilver bullion coins could be the most well known type of bullion that is selling very well on the internet and are among the most expensive and valuable items in the world.

Some high priced coins you’ll find include the silver ingot. The silver ingot was said to have been found in the Spanish ship Atocha that sank in the ocean. This ship was found to contain treasures and artifacts including silver ingots. Others claim that the silver ingots were recovered from an old Colorado Mining area. Coins were found everywhere and were said to have been hidden by the miners.

Canadian Maple LeafThe silver Maple Leaf Coins are also popular among collectors. These coins came from the Royal Canadian Mint and include the Walking Liberty half-dollars and the dealer roll first-strike 1994 U.S. Eagles. These items were a collection of the Franklin Mint which had more than 100 masterpieces in their memorabilia.

Most bullion collectors prefer the gold billion. Some famous bullion gold coins include the gold Krugerrands, which are from South Africa. The European Gold Crowns were released from the late 1800s to the early 1900s. Other items include the Canadian Maple Leaf Coins and the United States American Eagle Coins. British Sovereigns can also be found including the Swiss Helveteas and the French Roosters.

The awesome 10-ounce Swiss gold bar, China gold panda set, and the American eagle proof set coins can also be found and are considered to be the most seen coins on the internet. There are gold bullion found in the American Eagle set, Mixed Lots, Rounds, Bars, and any other similar categories that are found on some sites on the internet.

A type of bullion that is not well known is the Platinum bullion. It is not as in demand as great the silver and gold bullion coins. Platinum bullion can be purchased anywhere: some of them are the French Statue of Liberty coins, Eagle sets, and the Koala Proofs. The World Trade Center has also offered some Platinum bullions like the Englehard platinum bar, crucible dish made of platinum bullion, and the Johnson Matthew Year of the Dragon coins which were recovered from the safety vaults of the building when it collapsed.

These coins can be considered as thoughtful gifts aside from their being valuable since they can be kept as a souvenir from the person who gave it. A bullion bar that features a happy birthday greeting can be a thoughtful gift for a friend’s birthday especially if the bar has the date of the birthday on it. Some people also use them for their anniversaries as their gifts to one another – they search for those bullions that have the date of their engagement or the wedding year. Some brides also ask their groom to find her 24-karat gold flakes or silver flakes as her chosen token for their wedding.

Coin collecting of this type can be very expensive, especially when buying bullion, but here are some tips that can guide a person in his search for affordable bullion.

  • You must be sure of the type of bullion you would like to purchase before ordering or buying.
  • You must ask yourself, or the person you are buying the bullion for, what bullion he/she prefers and ask if they would like to come with you when purchasing the bullion.
  • You need to figure the delivery costs and add them to the agreed price.
  • You should be sure that the seller will guarantee delivery for the item if they have ordered it on the internet.
  • You should never make the payments using instant money transfer firms.
  • It is important to know the seller’s background and reputation in the business.

The Verity of US Coin Collecting

Fugio cent

coin collector

Whether they spend it or just collect it, some people are simply born to love the way money provides them the kind of gratification that they seek.

For example those people who are coin collectors simply love the sight of coins and many wish to display their collections as art.

In the United States, coin collecting started as early as 1652. During this period, business people and individuals alike, were known to engrave and distribute their personal coins.

Some people are so interested in coin collecting that they want to seek out various forms and categories and coins. The reason for this fascination for these coins is the very nature of U.S. coins.

The U.S. Mint carefully crafts U.S coins and over the past 30 years it has minted nearly 300 billion coins.

When the Articles of Confederation gave consent for the different states to create or manufacture their own coins, the U.S. coin collections grew at an unparalleled rate. That is why in the middle of 1780’s, states like Connecticut, Vermont, New Jersey, New York, and Massachusetts started creating various coins unique to their states. This prompted the start of “rare coin collection.”

To know more about U.S. coin collecting, here are some of the basic facts that you must know:

  • Fugio centIt was on 1787 that the primary “federally” approved coin of the U.S. was first made. It was in New Haven, Connecticut where the “Fugio Cent,” the name of the coin, was secretly manufactured.
  • The U.S. Mint is responsible for manufacturing the U.S. coins. The agency uses bands of metal that are rolled into loops, with the right breadth and measurements. Each kind of coin uses a particular kind of metal. For instance, metal strips that are made of zinc are used to manufacture pennies, while nickels are made of a 25% “nickel metal alloy” and 75% copper.

For this reason, U.S. coin collecting is further subdivided into categories such as the U.S cent, U.S. nickel, U.S. dime, etc.

People who would like to start collecting U.S. coins, should learn the intricacies or the hobby and find ways to acquire their first coins.

The hobby of U.S. coin collecting is not just a wonderful hobby but also a great way to preserve the nation’s culture and history.