The popularity of coins has shown significant increase in Canada because the value of the “fiat paper money” tends to deflate as much as 25% to 30% in a short period of time.
For this reason, coin manufacturers in Canada started making different kinds of coins to replace the value that was lost in the depreciation of paper money. Gold and Silver continues to thrive in various types of coins and their value continues to increase.
Canadian Silver Maple Leafs are one of the world’s most recognized silver bullion coins. First minted in 1988 and struck every year since, silver Maple Leafs contain one troy ounce of pure silver. Minted in .9999 fine silver, Canadian Silver Maple Leafs are among the purest of all silver dollar-sized coins. Maple Leafs are magnificently designed, with attention to every intricate detail. This has made the Silver Maple Leaf highly desirable by investors and collectors alike.
Coins function as solid emblems of a nation’s history. Canada has gained importance by producing Canadian coins serve as a means of monetary exchange and a source of historical enrichment.
Many coin collectors are enticed to try Canadian coin collecting. They know that collecting such Canadian treasures not only offer them remarkable diversion but can also provide them with additional value in the future.
So for those who wanted to start collecting Canadian coins, here is a list of some ways to get you started:
Do your homework
Like in any venture you must do your homework before you start collecting coins. Try to research how Canada manufactures their coins. Learn the history of coins and how they may offer great opportunities to earn a profit and at the same time be an enjoyable hobby.
To start the ball rolling, try to get as many coins or tokens as you can obtain without having to spend a great amount of money. Your parents or your grandparents may have some coins that they kept because they did not hold any monetary value at that time.
Use some guides
Coin collecting is not a complicated activity but it is not that easy either. You would likely need some references that will guide you in choosing the kinds of Canadian coins to collect.
You can refer to “Haxby’s Coins of Canada” or other brochures that will provide you with adequate information regarding Canadian coin collecting.
Enjoy and have fun
The idea of coin collecting is not to get the most expensive and the rarest coins that you can find. What matters most is that you enjoy what you do and that you are amazed by the kinds of coins that you are able to obtain.
Coin collecting may differ from one place to another but Canadian coin collecting is sure to give a hobbyist great pleasure and not just mere treasures.
Coin collecting is a fun hobby to start and the thrill of hunting for old coins is enough for many people to continue doing it. Other people consider coin collecting an investment, something they can receive a profit from. If you are one of those people, then you can find several types of coins in this article that will help you determine what others are looking for.
Most coin collectors will look for only a specific kind of coin that will make their collection more valuable and interesting to buyers. Others are collecting for sentimentality and are looking more at the coin’s uniqueness.
Series collectors are those looking for a series of coins that mark every year and every design change made in that coin.
Type collectors are those people who are looking to get one of each coin where there were/are changes made.
Ancient coin collectors are those people looking for coins spanning the years 650 BC – 450 AD. This is the time when coins were invented and there were silver, gold and bronze versions made. It also marks the time when Roman emperors were the rulers and most of them feature famous Roman emperors, Roman towns, or gods.
Token collectors are those who are looking for different kinds of tokens that were used in exchange for real money when there was a lack of coins. These tokens were used as local currency even if the government had not given permission for them to be used.
Coins are also graded. A coin’s grading depends on its condition and the price of the coin will rely heavily on that grade. It is important for a coin collector to know how to grade a coin to make sure that he is not swindled by individuals looking for a quick profit.
“Uncirculated” coins are those coins that are not showing any wear and tear or to referred to as “in mint condition”. A mint state (MS) grading depends on a coin’s luster, contact marks, hair lines and overall appeal. A coin can have a grade ranging from MS-60 (dull luster) to a flawless MS-70. Although MS-70 is considered unobtainable, a grade of MS-65 and higher will make a coin’s price shoot up.
Circulated coins are more forgiving, they do not take into consideration the amount of scratches and dirt a coin has gathered along the years. Grades for circulated coins will vary. AU (about “uncirculated”), EF (extremely fine), VF (very fine), F (fine), VG (very good), G (good), AG (about good), F-2 (fair) and P (poor) are used as indication of how much a coin is worth.
These grades are dependent on a circulated coin’s luster, visible wear, design elements and visibility of letters and numerals. Unlike “uncirculated” coin’s grades, these grades do not dramatically lower a coin’s value. This is wonderful for people who are looking just to complete a collection and do not care about a coin’s mint condition.
Pricing of a coin will usually be determined by a coin’s supply and demand. Very low supply and very high demand will make a coin’s price higher; however, high supplies of the coins will depreciate a coin’s value.
Demand is usually established by coin dealers where they take into consideration the number of people wanting to buy or sell the coins. Once a coin becomes difficult to find, coin dealers will usually make its price higher so that people are inclined to sell extra copies of their coins.
Grading and pricing a coin usually takes a lot of experience to master. Although there are several tips and guidelines to look for in grading a coin, only professional dealers have the final say on how much a coin is worth. It does not hurt to know this grading is done and why your coin was graded differently from what you thought.
Coin collecting is not really about investment, it should be a fun and thrilling hobby. While the overall goal of a coin collector is to complete a set of coins, learning what to look for in a coin is important to make sure that no one can take advantage of your need to complete a particular set.
Why waste everyone’s time? Let’s skip the appetizers and get to the meaty stuff right now: The Morgan silver dollars poised to increase the most in value in the years ahead are the 1895, 1892-CC, 1894, 1878-CC, and the 1883-CC. Pretty bold prediction, eh? At this point, the reader now has three options: (1) Stop reading and act upon this information, (2) Stop reading and get on with life, or (3) Continue on, evaluate the analytical approach to identify the “Top Five” Morgan dollars, and then implement a variation of (1) or (2) above. If you’ve gotten this far, we encourage you to continue on with option (3).
First, a little background info on the Morgan silver dollar…
The Morgan silver dollar is today one of the most popular of all collector coins. First minted in 1878 following the passage of the Bland-Alison Act, the new dollar was named after its designer, George T. Morgan. Political pressure by powerful silver mining companies, in a gambit to stabilize the price of their commodity at artificially high levels, created the impetus driving the legislative action. Bland-Alison led to the overproduction of silver dollars, resulting in millions of these unused “cartwheels” languishing in bank and Treasury vaults. Indeed, few coins have ever been released under more dubious circumstances than Morgan silver dollars. Minting continued until 1904, and then again for one more year in 1921, when the series finally came to a close.
For decades thereafter, Morgan dollars were largely snubbed by hobbyists. Many dates, including those in mint state condition, could be obtained for as little as $1.00. This situation shifted dramatically in 1962, when the US government began selling original 1000-piece silver dollar Treasury bags to the public at face value. Stories of rare dollar finds circulated widely, touching off a veritable Morgan mania. Within a matter of months, all but a small fraction of the federally owned coins were transferred from government vaults to private hands, consequently expanding the Morgan dollar collector base far beyond anything seen previously.
Since then, Morgan silver dollars have proudly perched themselves atop the catbird seat of the numismatic world. Their physical size, availability, beauty, and historical significance have consistently attracted herds of new buyers. Numerous boom-turned-bust cycles have come and gone, sometimes driven by pure speculative motives, but from a long-term perspective, most Morgan dollar prices have trended somewhat positive.
Unlike some controversial promoters in the past, I do not propose purchasing Morgan silver dollars simply as investment vehicles. However, for collectors hoping to satisfy their numismatic yearnings AND acquire coins destined to be worth substantially more in the future, Morgan dollars do present a few opportunities. As noted above, as a whole, Morgans have gained moderately in value over the years. The crucial challenge, then, is to identify which members of this series have enjoyed the best growth patterns in the past. The underlying logic is clear: coins that have demonstrated the strongest gains over a long period of time are the coins best positioned to show similar price advancements with the continued passage of time.
In order to measure past performance and thus visualize Morgans most likely headed toward a bullish future, I developed a systematic approach. First, I researched individual Morgan dollar retail prices as they existed in 1950, for a broad range of conditions, and entered this data on a computer spreadsheet. Moving forward in time, values from the years 1980, 1995, and 2000 were likewise recorded. Finally, estimated selling prices in 2005 were juxtaposed with counterpart 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).
For each date and condition, compounded annual return rates were computed from 1950 to 2005. [Editorial note: compounded annual return rate is the accepted yardstick for comparing investment performance. Of course, coins do not grow at a guaranteed uniform rate, such as bonds do, but if a coin is purchased at a certain price, and that price is compared with the value of the coin at some later date, the compounded annual return rate can be calculated for the time period in between]. Return rate computations were made from 1980 to 2005, 1995 to 2005, and 2000 to 2005. For each Morgan dollar, 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 Morgan silver dollars with the highest scores are as follows:
So, it would appear, based on past performance over a period of 55 years, the 1895 is the Morgan silver dollar with the best hope of appreciating significantly in the years ahead, followed by the 1892-CC, 1894, 1878-CC, and 1883-CC. Not surprisingly, dollars of the Carson City Mint occupy 13 of the top 16 positions, thanks to persistent collectors scrambling for bona fide artifacts of the romantic American West. On the opposite end of the rankings, Morgan silver dollars having the bleakest long term prospects include the 1898, 1899-O, 1884, and the 1888-O, followed by the 1897 coming in dead last with a score of 2.66.
Anyone whose dual objective is to acquire Morgan silver dollars with a bullish future ought to begin looking at the “Top Five” above. Purchase coins in the best condition you can afford, but be sure the coins are clean, problem-free, and CERTIFIED by a reputable grading service. Be prepared to hold for at least five years. Morgan dollars have skyrocketed in value in the last three years, so some cooling off may be in order before the next upward cycle.
If a polling firm were to survey the population of US coin collectors, it is very possible that Morgan silver dollars would win the vote as the most appealing coin in American coinage history. These beautiful coins have been the heartbeat of the hobby for many years, with no retreat in sight. Ironically, these same coins spent the better part of a century hidden away in government vaults, unseen, unwanted, and unloved. My, how times have changed!
Through the decades, people have collected coins for different reasons. In the past, when coins were made of gold, these were collected mainly for their intrinsic value. As far back as the 1st century, accounts show that the Roman emperor Augustus already had a form of coin collecting hobby. He gathered exotic coins which he used to give away as gifts.
Coin collecting today is frequently referred to as numismatics. Strictly speaking though, numismatics is a broader discipline which devotes itself to the study and collection of different types of currency while coin collecting limits its interest to the acquisition of coins. Still, using numismatics as a name for coin collection has become commonly accepted.
The Kind of Collector You Want to Be
If you want to start collecting coins as a hobby, it is important that you decide what kind of a collector you want to be. You may want to start a coin collection as a serious investor. You may even want to gather certain coins because of their metal value which can be almost twice their face value as currency.
Or, like many collectors, you may want to collect coins just for fun without care as to type, condition or value of the coins gathered. Your interest in coins may be so expansive that you want to take in many different types of coins. This would make you a generalist like the exiled king of Egypt, King Farouk, who had accumulated 8,500 rare coins and medals at the time of his death.
Investing in Your Collection
You will have to invest not just time and effort but also money in your coin collection unless you plan to gather coins randomly without attaching any importance to value. Make no mistake about it; a coin collecting hobby can cost you a pretty penny.
Expenses in the proper collection of coins will include the cost of basic tools such as a reference book on coins, albums or holders to classify and keep your collection, gloves and a strong magnifying glass. Usually, serious collectors keep a jewelers’ loupe as well. The cost for all these items will be in the neighborhood of fifty dollars. You can look for free reference materials to bring this figure down but if you are bent on pursuing this hobby in earnest, sooner or later you will have to buy a good reference book that you can keep on hand all the time.
Of course on top of the tools you will be using, as a serious coin collector you will be buying some items to add to your stash. A coin can cost anywhere from $10 to $100,000 so it will be up to you to decide on a budget and stick to it.
Deciding What Kind of Coins You Will Collect
Unless you want to be a generalist, it would be good to focus on the kind of coins you will collect. Some collect coins based on country of origin while some do this based on design. Others will gather coins based on the year or the period they were minted or the subject depicted on them. There is a wide range of choices in terms of the kind of coins you want to look for and keep. However, it would be wise to first take stock from the beginning of what you already have and how much you intend to spend.
For the person wanting to grow their collection of silver coins, collecting pre-1965 dimes, quarters, and half-dollars might be a good choice. Don’t be misled by the term used to describe these coins – “junk silver”, as they are definitely not junk.
Learning about the Hobby
A coin collecting hobby can be enriched by the wealth of information readily available today about the topic. If you want to indulge in your hobby in an organized and knowledgeable way, find out everything you can about coin condition and value. Practice your hand at examining coins based on universally accepted standards in coin collection. Join a group that shares the same hobby and learn everything you can. If you go into collecting with skill and enthusiasm, your collection of coins can present you with a vast and interesting new world that you can fully enjoy by yourself or with the participation of friends and family.
Coin collecting is not as simple as keeping coins: it may be observed from numismatists or even coin enthusiasts that it is a systematic and somewhat complicated hobby. Certain tools must be employed to ensure both fun, discipline and to some extent, good profit.
Here are some of the essential things that must be included in the coin collecting kit.
1. Coin Guides
Coin guides should be used, not just by beginners, but by professional coin collectors as well.
Coin guides give tips on how to start, as well as special instructions on how to proceed with the hobby of coin collecting.
They also provide information on coins, since different coins have different ways of grading, pricing, etc.
It is recommended you read guides before doing starting the hobby to avoid making wrong decisions caused by lack of information.
2. Coin Inventory Record
All items in your collection must be accounted for properly. Information like year, face value, grade, cost, trend, and remarks must always be available for reference.
Inventory Records also help in organizing coin collections. It eliminates the redundancy of coins in the collection by showing the collectors at a glance the items in his collection.
Coin collectors do have options in the method to be used in recording coin information. They may choose the traditional paper-and-pen method, or may use coin collecting software.
3. Coin Containers
To avoid damaging the coins, it is recommended to invest in holders and containers that will give adequate protection.
Just remember that coins react to certain chemicals such as sulfur present in paper and PVC from plastic it is not advisable to use such materials for long-term storage.
4. Silica Gel
The use of silica gel packets is important to maintain the moderate temperature, low humidity atmosphere conducive to coin preservation.
5. Magnifying Glass
Magnifying glasses are a great help when it comes to coin grading. Most numismatists recommend using a 7x magnification, but generally, magnification between 4x to10x will do the job.
The magnifying glass is a great aid in examining the quality and authenticity of the coins. Details like hairlines or scratches, which are not visible to the naked eye, are “big deals” when it comes to coin collecting as they affect the value of coins.
A light source must be placed half a meter away from the workspace. Recommended light for this purpose may be a halogen lamp, or simply a 75-watt incandescent lamp.
7. Handling equipment
Finger marks reduce the grade of the coins. That is why serious collectors invest in surgical gloves and velvet pads to use when handling coins.
Now your basic coin collecting kit is complete. Enjoy!
Starting and maintaining a gold coin collection takes a lot of money and it is only reasonable to expect such a collection to increase in value as years go by. If you are seriously thinking of venturing into gold coin collecting it is important to know everything you can about it. This way you can make sure you will find money and not lose it in gold coins.
There are Gold Coins and there are Gold Coins
A gold coin is exactly that – a coin that is made wholly or at least mostly out of gold. There are slight variations in the standard for being able to say that a coin is made mostly of gold. Starting from those for circulation in the year 1526, English gold coins have been 22 karats or 91.7 per cent gold while American gold coins for circulation in 1837 and following were minted at 90 per cent gold or 21.6 karats.
If you are thinking of investing in gold coins, there are two types of coins you may want to purchase. The first type is the bullion whose value rests simply on the weight of its metal content and not on rarity, quality or historical worth. Basically, gold bullion coins are used not as legal tender, but as a hedge against inflation. Gold bullion coins can weigh from a tenth of a Troy ounce to a quarter of an ounce to half an ounce or a full Troy ounce.
The second type of gold coin you can invest in is the coin which has been minted for legal tender. While the gold bullion coin derives its value from its gold content, this second type of coin can be worth much more than its weight in gold. There are other factors such as rarity and coin condition that influence the price of gold coins minted as legal tender.
The safer type to invest in would be the gold bullion coin because its price simply follows the price of gold which has steadily risen through the years. There is more risk, but at the same time more room for speculation when investing in gold coins that are used as currency.
How to Begin Gold Coin Collecting
The first step in collecting gold coins would be deciding what kind of coins you want to collect and what your budget is. There is a wide range of gold coins from you to choose from. Austria, Australia, the United States, member nations of the European Union and many other countries have minted their own gold coins in the past and some continue to do so now.
Assuming that you want to collect gold coins that have been used as legal tender, you might want to test the waters by looking into the availability of Liberty Head or Coronet Head Gold Eagle coins. These were minted from1838 to 1907. They come in three styles and are characterized by the face of Liberty looking to the left with a coronet that bears the word liberty.
These coins are one of the most affordable US gold coins and this has made them a big favorite among collectors.
Or, you might want to invest in British Gold Sovereigns, in Australian Kangaroos, South African Krugerrands or Chinese Gold Pandas. Whichever type of coin you want to start investing in, just remember to do your homework first. Track their prices in the last twenty years and figure out if their increment will allow you a good enough profit for the amount you will be spending when you buy.
The world wide figure for coin collecting is about ten billion dollars a year so. It is a big market so there is room for making money from gold coin collecting. Be aware though that this is not a get-rich-quick business and it may take years for a substantial appreciation in value to take place. Still, in a world where stocks of giant corporations have crashed and investment houses have come face to face with the possibility of collapse, gold coins can offer a form of security that is hard to come by.
Coin collectors, old and new, have always wondered whether the coin or coins they have in their possession are worth more than the face value today – or in the foreseeable future.
Even though that a coin which has little or no value monetarily is not necessarily one would not keep or make part of one’s coin collection.
The following are basic factors which could influence a coin’s value.
How rare or un-rare is it?
Generally, the concept that everyone knows and follows is this: the rarer a coin the higher the coin’s worth. This rule is true in some cases and – fortunately or unfortunately – false on the others.
There was a situation where a Chinese coin, a thousand years old, sold for only a few of dollars because there were many of the thousand-year-old Chinese available. Compare this to a coin made only in 1913, a nickel specifically called a Liberty Head, which could sell for (hold your breath) one million dollars! It is known that only five of these coins exist, consequently the enormous monetary value.
Is the coin in good condition?
The better the condition of the coin, the better the price that it would bring on the market, because the grade of the coin would match its condition. A coin that is in mint condition – add to this that it is basically an uncirculated coin – is actually worth one hundred times more than a similar coin that is just in average circulated condition.
Demand and supply
Sometimes, when the demand for a specific coin is high, that coin’s worth – despite the number of them available – is just as high.
Take the example of the coin dated 1916-D, and compare it to the value of a coin dated 1798. Many people prefer to collect coins of the 20th century rather than those that are from the 1700’s. The 1916-D dimes sell higher than the much older 1798 coins. The fact that there are more (approximately four hundred thousand) 1916-D coins than there are dimes from the year 1798 (only about thirty thousand), does little to affect the price of each.
It is best to have a professional coin dealer grade the coin(s) and determine the value of any coin(s) you may own. Who knows, it could be worth more (or less) than what you think.
If you are a coin collector who wants to sell or buy coins, one good way to do it is through coin auctions or bidding.
Coin auctions provide the best ways to obtain coins that have remarkable values. Coin auctions are the primary source of rare coins because most rare coin collectors want to sell their treasures to the highest bidder.
Unlike the typical way of selling and buying coins, coin auctions entail some rules and regulations for both the bidder and the seller that they must adhere to.
Basically, there are three types of coin collecting auctions. These are:
1. Auctions through mail bidding
In this type of coin auction, the seller will advertise and publish coin auctions through the mail. This is highly beneficial for people who want to participate in the activity but cannot attend the event personally.
Usually, the seller has a mailing list available and it is used to send catalogs that contain the descriptions and pictures of the item(s) to be sold. At times it may contain the starting bid amount and other pertinent information.
The seller’s mailing list, the catalogs, or brochures are sent out to the potential bidders. These lists may also be sent to those who have purchased from them in the past.
2. Phone auctions
These auctions are conducted by phone. Just like the mail bidding, phone auctions must observe the rules and regulations that are to be followed.
Once the highest bid is identified, the item goes to the winner. However, there are some instances when people may ask the seller for an approximate selling price but the rules still remain the same, no disclosure of previous bids.
3. Online coin auctions
This type of auction is popular because when bidding on a particular coin the bidder is able to see what the coin looks like. Greater interaction between the seller and the buyer may also be achieved as the seller can instantly contact the bidder for important information.
The only drawback to this kind of coin auction is that through the Internet, others can deceive a coin collector into believing that what they see on the screen is exactly the same item that they are bidding on.
All of these things can provide you with the best ways of obtaining the best coins available on the market. Just try to stick to your bidding budget.
Collecting coins is so much fun! It is both a hobby and a source of income for many. One type of coin that you may want to consider collecting is ancient coins. Many collectors hesitate to buy ancient coins to collect because they can be terribly expensive. What is most important is the uniqueness of these coins and the benefits they provide their collectors.
Here are some tips that should be considered when buying ancient coins:
1. Conduct a research of ancient coins. It is important that a collector is aware of what coins are considered ancient. It does not require a collector to go to a library since many websites on the Internet can provide all the information needed to become well-informed about ancient coins.
2. There is a wide variety of ancient coins available for collectors. A collector can choose from different eras and civilizations. He can choose from a Chinese civilization, ancient Rome, Greek, Persian, etc. It is preferable for a collector to focus on a specific group or era when collecting coins.
3. Once a selection has been made, a collector may then focus on the buying of these coins. To start select coins that are least expensive –set a price range such as $20. Once the collection grows, he may then want to start buying the more expensive coins.
4. A collector may also try searching for ancient coins at auction houses or online auctions where ancient coins are available. Always be aware of possible fraud no matter which venue you are using and take extra care in buying coins at online auctions.
5. It is also suggested that the collector make a list of the ancient coins that he would like to buy. He can list them according to his order of preference which will make his search for ancient coins an easier task. Included on his list should be the amount he is willing to spend on a certain type of coin. The list will be helpful whether online or at an auction house, enabling him to manage his budget easily.
6. It is important to have a separate holder for his ancient coin collection or his other collections. Separate holders will help the collector organize and preserve his coins. Ancient coins are generally more expensive than other collectible coins so it is necessary for a collector to know the proper care for them.
Ancient coins should not intimidate coin collectors. They are an exciting way to enjoy the hobby of collecting coins. Not only do they provide fun but they serve as a source of knowledge for many coin collectors.
Today, you will see people having different kinds of hobbies. Some loves to collect doll houses, others love stamp collecting, there are also some who likes collecting different species of butterflies and preserve them, and some people likes to collect toys. However, if you really want a valuable collection, and a collection that will be worth a lot in the near future as well as a hobby that will truly provide you with great satisfaction, then you might want to start a coin collections hobby.
Coin collecting is a hobby that has existed for centuries. Here, you will not only get a piece of history from different countries, but you will also have a chance to invest in a really valuable hobby.
Coin collecting is a multi billion dollar industry. In fact, a single rare coin can amount to as much as a million dollars. If you love history, then coin collecting is definitely a must.
The great thing about coin collecting is that it’s not just a hobby, but also an investment. You have to consider that coin collectors such as yourself travel all over the world in order to participate in forums or events that involves this one of a kind hobby. In fact, some people bid thousands of dollars in auctions for a coin that was worth a single cent during its first release.
As you can see, a coin collection can definitely be a very lucrative investment especially if you have a rare coin in your hands. You have to remember that although coins are currencies, it does appreciate in value especially if the coin is very rare and is not being produced anymore.
For example, try imagining getting a hold of a rare coin that dates back to the Ming Dynasty in ancient China? You can definitely imagine how much this kind of coin is worth nowadays. Even if the coin was worth 5 cents during the time it was first used, you have to consider that this coin will definitely appreciate in value because of its historic significance, its rarity and its age.
There are many ways to start your collection.
First, you have to decide what kind of coins you want to collect. If you want to collect World War II coins, then you can do so. Or, maybe you want to try collecting rare ancient Roman coins? This may be very expensive but is also an investment that will be worth a lot in the future.
If you are just starting out, you may want to try collecting different kinds of coins from different countries. Ask your friends who have traveled abroad before to hand you some coins they have from the countries they traveled to before.
This is relatively a cheap way to start your collection.
Once you get the hang of it, then you will opt for rarer coins that can be worth a lot of money. In time, you will be able to see that your coin collection will grow from collection of coins from different counties, to a collection of rare coins that is worth thousands of dollars a piece.
As you can see, coin collections are not just a fun hobby to have, but it is also an investment. With a coin collection, you will be able to have something to do in your spare time as well as invest in something that will be worth a lot in the future.
One thing to consider when collecting coins is how to arrange and take care of the coins. your coins might be antique, ancient, or limited editions coins. They might come from many countries and are usually high in value. A collector must know how to keep and take care of them so that they will retain the same appearance and value.
One way to take care of coins is to purchase s selection of coin accessories. Not only are coin accessories used to make a coin collection presentable and organized; but the primary purpose of coin accessories is to take care and preserve the coins.
When buying coin accessories it is important to choose those accessories that will best satisfy the needs of the collector. Some factors that may be considered are durability, price and usefulness.
Many coin accessories can be found in collectible stores and even online. Here are some coin accessories you might consider:
Coin boxes are the most common sought for coin accessories as they are very convenient to coin collectors and specialists. The compartments of the box provide for easy location of the coins. The compartments are also wide, which provides flexibility in placing the coins. The wide compartments also allow the collector to handle the coins the proper way.
Coin albums are similar to any typical album with the difference being that the coin album is especially designed to hold coins. A coin album has a transparent layer that aids in the protection of the coins. The collector does not need to handle the coins one by one. All he has to do is turn the pages and the coins are all there protected from improper handling.
Coin holders are best for those collectors who collect coins during their travels. They allow portability of the coin collection. In addition, the collector does not need to carry his entire collection. He can simply place a single coin in the coin holder. Coin holders provide safety for the coins and prevent a coin from the many elements that may depreciate its value.
Other coin accessories might be helpful as well. Determine the primary purpose of the accessory and if it can satisfy your needs. Prices will differ depending on the durability of the accessory. It’s recommended you research the many coin accessories that are sold and compare prices before choosing one.
Coin collecting was started only as a hobby for most people, however you can hear what other people say (or you probably have heard yourself) about news of people cashing in on their old coin; and that encouraged more people to go on a coin-collecting streak. If you are one of those people who want to invest in coins, here are several places to start your collection.
Many shop owners are dealers that know a lot of information about coins and are selling coins too. These coin shops are a valuable place to find and gain more information about coins and coin collecting. These coin shops can be costly, though, as they are anticipating selling their coins for a profit. With enough knowledge and/or having someone who know a great deal about coin collecting at your side, you can get great prices for your coins.
There are times when your local mall will have an exhibit from several coin dealers and that will let you see all of the collections and allow you to buy some coins for a lower price due to the competition. You will probably also see several new coins that are available and suitable for your collection.
These coins shows are great not only for sellers and buyers but also for coin enthusiasts who want to see rare and hard to find coins.
Mail Orders/Web Sites:
There are thousands of dealers worldwide and most of them have websites that allow buy coins and pay for them through mail order or through any online payment system such as Paypal. You should do your research on these companies and read their terms carefully to make sure that you can get your money back when you have a problem with the coin you purchased and/or received.
For every legitimate web site, there are may be hundreds of fake web sites that are just attempting to get your money. You should always ask for feedback from previous customers before paying anybody online and remember not to give out any password or pin numbers.
It would be a surprising place to find rare coins at a flea market, but stranger things have happened. These places have different ideas about pricing which is due to their lack of understanding of how a coin should be priced. You will find overpriced coins but if you are lucky you might find a rare coin somewhere in those stacks of coins that will make it worth your while.
Flea markets sellers are usually looking for a quick sell and would probably give you discounts when you buy their items in bulk. Try to buy other items and get your coins added as a bonus.
If you are looking to invest in really, really rare coins, the best place to go would be an auction. Auctions are the only place where you can find people selling their rarest and most expensive coins. Several of these auctions are happening online at the same time and most of the sellers are looking for the highest bidders. You must be aware and warned that some of these sellers are frauds and will not make the price you pay worthwhile. You should try to learn more about these coins and their worth before trying to buy one from an online auction.
Other Coin Collectors:
Coin collectors usually have duplicate coins that they are willing to sell for a price lower than its market value. The only problem is it is hard to find another coin collector that collects the same coins as you. The best places to look are online groups, forums and (if you have one) local groups.
Other coin collectors are the best people to turn into when you want to start your own collection. They can offer you tips, discounts and some might even be tempted to give you some of their coins to kick-start your collection.
Coin collecting is like any other investment the value will fluctuate: they may depreciate in value and/or gain value at any time. The best way to profit in coin collecting is keep updated with the news and the prices of the coins. This will not only help you in not being fooled by merchants but by learning how to price a coin even without a price list.
Coin collection is not just about having as many coins as possible. More important than the number of coins is the quality of those coins. This quality is measured by the coins’ grade and the grade is measured using a scale from zero to seventy (seventy being the highest point grade). Doctor William Shelby introduced this point scale in his work “Penny Whimsy”.
Here are the classifications of coins according to grade.
1. “Mint State” Coins
This is equivalent to a value of 60 to 70 in the Shelby’s grade scale. This means that the coin has no blemishes whatsoever. Most of the coins in this category are uncirculated, shiny, new coins, with absolutely no signs of wear.
2. “Almost Uncirculated” Coins
The “Almost Uncirculated” coins have a point grade of 50, 55, or 58.
It is very important to note that in these coins, coin collectors must know the locations of the high points in a particular coin. By checking the difference of the light reflected in the high points to the other parts of the coin, an “Almost Uncirculated” coin is separated from the Mint State coins.
3. “Fine Coins”
These can further be classified as” Extremely Fine” (40, 45), “Very Fine” (20, 25, 30, and 35) or “Fine” (12) depending on the sharpness of the remaining details on the coins. The coins are observed to have wear but the designs are still intact.
For “Extremely Fine” coins, the mint luster is still present.
“Very Fine” coins can be compared to coins which have been used for 1-3 years. Minor features of the coins are already gone.
4. “Good Coins”
These coins can be specifically defined as “Very Good” (12), “Good” and “Almost Good” coins.
The coins in this category are worn out. Only weak designs can be observed since the details of the coins in the high points are nearly smooth.
Full rims must be observed for the “Very Good” coins category.
In the case of “Good” coins, the mint mark and the date must be visible.
On the other hand, “Almost Good” coins are the most worn of coins in this category.
5. “Fair Coins”
The coins are “worn out”, but can still be distinguished as belonging to one of the types of coins – as long as one can identify a coin, it is a “Fair C”.
6. “Basal Coin”
These metals that can be determined to be coins – but the kind of coin are undeterminable.
With the classifications described, it will be very easy to grade coins. Just remember that knowledge of the coins’ grades gives coin collectors advantages!
There are many resources that can help coin collectors, old or new, in determining the value and worth of the coins they have.
There are books out, “The Red Book” (A Guide Book of US Coins), “The Blue Book” (A Handbook of US Coins), as well as coin newsletters and catalogues available at any public or private library, coin dealers/shops anywhere in the US. There are also online guides for the prices of US coins available on the web.
For a synopsis of the price of each coin, the following are the basic values of each cent, penny, or dime in the market.
The United States wheat-cent, the circulated ones
The price of these coins made prior to 1958, or those that are dated 1940, are currently being purchased by coin dealers for two cents each, or less. Those made before 1940 command a much higher price – from a few more cents to a few dollars.
Silver-dollars from the US, especially those made before 1935, have almost an ounce of silver in them. These coins are the favorites of coin collectors and could be sold for more than their actual value in silver if they are undamaged or not worn severely.
The dollars of Susan B. Anthony
If by luck you happen to get one of these as a change, the value is more than a dollar and proof Susan B. Anthony dollars command even more. They are not easy to fine as they are not usually being circulated.
Quarters, dollars and halves – the bicentennial kind
There were billions of these coins made out, and because there are so many of them, their worth is usually just face value. There are coin dealers however who pay ten percent of the face value as premium for circulated bicentennial coins, and a few dollars more for those that are uncirculated.
A freak coin
Believe it or not, there are two-headed coins out there. Basically, these are coins with two different designs on each face. These coins were made in error and mistake was not discoverer until the year 2000. This type of coins is usually called “mules”. In 1999, it was found that a cent with Lincoln’s face on one side and Roosevelt’s dime image on the other existed.
It you find a coin of this it must be taken to a legitimate coin dealer and assessed to determine if is genuine. If so, this coin could be put up for auction and command a few dollars more.
It is therefore true that a coin is basically worth more than meets the eye.
The condition of the coin means everything in coin collecting. In the world of coin collecting, the coins themselves are considered as gold, this is why there is a need to protect them from damage. Having the right supplies will allow a collector to preserve the integrity of his coin collection. The slightest hint of damage can diminish the value of a coin significantly.
Here are some of the supplies which are used in properly handling coin collections:
In handling coins, you must be careful not to scratch the coins. The use of gloves (preferably white) will prevent scratches and other kinds of damage to the coin’s surface. Gloves should be made of cotton or plastic.
If you not comfortable using gloves, you can use coin tweezers. These are not your ordinary tweezers because their tips are protected with plastic that prevents the tweezers from scratching the coins.
In examining coins, you must be able to take a closer look at them. This is where the magnifying glass is most useful. You must be careful in using a magnifying glass when examining the coins. There are magnifying glasses available today that have stands attached to them and the stands allow the collector to use both hands in coin examination to avoid accidents.
A mild soap and a soft high-integrity fiber cloth can be used in cleaning coins.
When examining or cleaning coins, you must remember to put a soft cloth or a mat on the table where you are working. An accidental dropping of the coin can damage it significantly and reduce its value to literally nothing. A mat or a cloth will absorb the impact of the drop and will prevent the coin from being damaged.
You must be extra careful in displaying your coin collection. Coin boards are used by many to display their coin collections. In the U.S., the map of the United States of America is very popular among coin collectors to display the different quarters of the different states.
When transporting coins, the use of coin envelopes is very practical. The use of these paper envelopes allows a collector to safely transport his coin and put some information about it in or on the envelope itself.
There are other coin collecting supplies such as boxes, holders, folders, but everything points to the preservation of the coins’ condition. The right kind of supplies will determine whether a coin is priceless or price-less.
Some people are born to love money; whether they spend it or just collect it, they are simply born to love the way money provides them the kind of gratification that they want.
For example those people who are coin collectors simply love the sight of coins and many wish to display their collections as art.
In the United States, coin collecting started as early as 1652. During this period, business people and individuals alike, were known to engrave and distribute their personal coins.
Some people are so interested in coin collecting that they are more willing to combine various forms and categories. The reason for this fascination for these coins is the very nature of U.S. coins.
The U.S. Mint carefully crafts U.S coins and over the past 30 years it has minted nearly 300 billion coins.
When the Articles of Confederation gave consent for the different states to create or manufacture their own coins, the U.S. coin collections grew at an unparalleled rate. That is why in the middle of 1780’s, states like Connecticut, Vermont, New Jersey, New York, and Massachusetts started creating various coins unique to their states. This prompted the start of “rare coin collection.”
To know more about U.S. coin collecting, here are some of the basic facts that you must know:
1. It was on 1787 that the primary “federally” approved coin of the U.S. was first made. It was in New Haven, Connecticut where the “Fugio Cent,” the name of the coin, was secretly manufactured.
2. The U.S. Mint is responsible for manufacturing the U.S. coins. The agency uses bands of metal that are rolled into loops, with the right breadth and measurements. Each kind of coin uses a particular kind of metal. For instance, metal strips that are made of zinc are used to manufacture pennies, while nickels are made of a 25% “nickel metal alloy” and 75% copper.
For this reason, U.S. coin collecting is further subdivided into categories such as the U.S cent, U.S. nickel, U.S. dime, etc.
People who would like to start collecting U.S. coins, should learn the intricacies or the hobby and find ways to acquire their first coins.
The hobby of U.S. coin collecting is not just a wonderful hobby but also a great way to preserve the nation’s culture and history.
Old coins that is. Try looking under that old dresser, or up the attic where grandma or grandpa’s things may be stashed away patiently waiting for you to discover them. Who knows, you might find a coin there, an old coin that – at today’s rate – may be worth a few dollars; probably three or four or five, even ten times what the coin was worth back then.
A penny a day, is worth okay
Fortunately or unfortunately, there was a shortage of copper during the year 1943 and all pennies made at that time were minted using steel. There were however, some Lincoln pennies that were incorrectly minted on bronze that turned out to be blanks. A few years – or decades later -these bronze pennies became a rarity and are valuable. The steel ones though, because of their commonality, are worth only between one to three dollars each.
Be aware and be wary as there are schemes where gullible coin collectors are sold coins that are copper plated in an attempt to make these pennies appear to be bronze. Also, keep your guard up anytime someone offers you a circa 1943 penny made out of a metallic white alloy.
Old coins are good coins
Coins, specifically the silver dollars made and circulated between the years 1878 and 1935, are worth between twelve dollars and twenty five dollars for the circulated coins. The coins that were not in circulation are worth considerably more.
Meantime, those quarters, dimes, or half dollar coins made and circulated prior to 1965, are usually made out of ninety percent silver and therefore worth as much as today’s silver (with an additional premium, albeit small, put on the coin’s face value).
Wrong pennies are right
There is a Lincoln penny issued in 1972 on which the date and the letters on it appear to have been doubled. This rare coin is currently worth about sixty dollars, assuming the pennies are in standard condition. The Philadelphia Mint during that time period accidentally misaligned the die used in minting the coins causing the portrait of Lincoln to look like it was doubled. Fortunately or unfortunately, eighty thousand of these were circulated before the error was discovered.
In summary, coin collecting is similar to collecting bits of history and trivia from the past. In addition to the face value its worth as a treasure – pennies, dimes and coins – often are worth more in the long run.
For every numismatist or coin collector, finding a good place to store their coins is the most important thing in this world because storing their precious coins in a good and secure place will ensure that the quality and value of their coins is maintained…
There are many types of storage spaces that can help you by displaying and storing your coins. You can either use folders, holders, plastic tubes, or the album, but among these reliable storage spaces, the coin collecting albums are the best way to display the coins.
If you want to know why, here are some benefits of albums and you can evaluate the concept from there:
1. Two-way image viewing
With coin collecting albums, you can get more satisfaction viewing your collections because albums let you see both sides of your coins. You do not have to remove your coins every time you want to see the opposite side.
Therefore, albums give you the best of both worlds.
2. Better defense against instant wear
Another benefit of albums over folders and other coin storage is that it gives the coins better defense against harmful elements that will expedite the deterioration of the coins.
Albums are generally characterized by the use of plastic materials that serve as shield against scratches and environmental factors.
3. Good coin holder
Albums provide pockets for coin storage. The best thing about using a pocket is that even “dilapidated” coins or extremely worn coins are better protected.
Worn out coins, when placed in folders, have the infuriating tendency of falling out over and over again. With coin collecting albums they are kept intact.
4. Variation in prices
Albums that are used in coin collecting are usually priced from $20 to $40. Even though they can be expensive, they provide better storage for your most-prized treasures. Paying the price for an album is a great alternative to the other typical types of storage.
5. Information center
Coin collecting albums are great “information centers” as far as the hobby is concerned because most of the albums that are used in collecting coins have an inside front cover| that allows you to place important information regarding your collection. It also has a back cover that provides space for your “mintage figures.”
Coin collecting is easier and more pleasant with the help of these albums. It makes your treasures last longer, thus, establishing greater value in them.
Therefore, coin collecting albums are definitely the best “keepers” for your coins.
Today, there are thousands and thousands of people that are enjoying coin collecting and these numbers are continually growing, which is a welcome change from the situation that existed prior to 1999. In fact, ever since the mid sixties, coin collecting as an activity and hobby had been showing signs of decline because of the change in material from which US coins were being made.
Base Metals Replace Silver
When silver was replaced with base metals it became much harder to find suitable old coins and so the interest in coin collecting declined. However, the year 1999 saw the advent of the 50 State Quarters Program when the first State Quarters were issued that honored the US state of Delaware.
This 50 State Quarters Program reignited interest in coin collecting and it led to more people taking up coin collections as a serious hobby. However, the reasons why people become interested in coin collecting are as diverse and different as the coins themselves. People might want to collect coins on account of the fact that those coins were minted in the year that their children were born, or they might start collecting coins with a view to selling them off later when their value appreciates.
The best example of how coin collecting can prove to be a profitable exercise is exemplified in the case of one Louis E. Eliasberg Sr. whose collection of coins, after his death, fetched his heirs a whopping forty-four million dollars.
The best way to start the coin collecting activity is through making a beginning with date-and-mint coin collections. The Lincoln cent that is issued each year is an example of how to go about adding coins to your collection. Or, you might want to collect coins according to certain coin types and rather than collect coins from each year and according to mink-marks it might be a better idea to collect coins from a particular series as well as from a particular mint.
Mint error coins too make ideal coins that every one that is interested in coin collecting should think about including in their coin collections. To make coin collecting easier why not also make use of coin collecting software of which you will come across different types though each will help you with different aspects of coin collecting.
With a little bit of luck, you might even succeed in adding some very valuable and perhaps even rare coins to your collection and then you can reap a tidy profit by selling them off later when they are much in demand and when their value appreciates sufficiently to warrant selling them off.
The price of an antique item goes up if it is kept in good condition. By having it stored in a safe place, one can be sure that it will not be damaged by the elements or by negligence that will reduce its value in the market.
Coins are easy to take care off. For those who have been doing this for years, such collections are usually framed or under glass and are often seen in places such as a large museum. But to individuals who are just starting out, putting it in an old shoe box or jar will do.
Later, when the collection is larger, it is time to invest in a coin folder that would better protect and hold the coins. These folders can be bought in different sizes depending on the type of coins the individual is collecting. The coins can be stored in individual plastic pockets or in sheets that make up the album. They are available at the local coin store or can be ordered from the web. The advantage of using these is that they are handy to carry around make it easy for the person to show. These can be brought to exhibits and other venues where the coins can be traded, sold or exchanged with coins that other people may have.
Keeping the coins in mint condition does not only mean storing them in a folder. Whenever the person adds a new coin to the collection, it is ideal to first have it cleaned before putting it in with the others.
This can be done by taking it to a coin shop and paying for the services, or if you prefer to do it yourself, is by soaking it in a liquid such as vinegar, rubbing alcohol, lemon juice or ammonia which is sure to remove any dirt or encrustation that are present when it was acquired.
They should then be air-dried or patted dry with a soft cloth. It is not a good idea to rub or polish the coins since scratches can occur that may decrease its value in the market.
Serious coin collectors value the importance of storing these valuables in a safe and secure area. By investing in a coin folder, the person can be sure that the value of the coins will go up either when the demand calls for it or when there is a need to part with them.