Coin Collecting

The Basics of Coin Collecting


GovMint.com
Coin collecting is said to be the “Hobby of the Kings.” Coin collecting is different from money hoarding. Collecting coins as an art form can be traced back to the 14th century. Today, people all over the world are collecting coins. Some collect it for their value, some just like the sheer fun that they get from getting their hands on different coins.

If one is interested in making coin collecting a hobby, he can very well do so. It is a hobby which does not require a certain skill and it can be done by almost everyone.

There are many different kinds of coin collectors. There are those who do it for fun, and others do in a more serious manner.

Informal coin collecting

Most coin collectors, especially the children, start out as informal coin collectors. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods without any intention of being serious about it.

Inquisitive coin collecting

Once the informal coin collector starts noticing the details of the coins, he becomes an inquisitive coin collector. This kind of coin collector won’t bother much into spending money to get coins. He merely wants to appreciate the coins. Soon, he will start to put them in containers or albums.

Advanced coin collecting

An advanced coin collector will collect coins with a specific target in mind. He may want to collect coins from a certain nation, or a certain time period.

There are many tracks which coin collectors pursue when engaging in their hobby. Here are some of the ways one can use in collecting coins:

Coin collection according to nation

Many coin collectors would want to collect coins from a certain nation during a certain period of time. This kind of coin collection lets the collector travel the globe through the coins. People may want to collect coins from countries they had visited.

Historical coin collection

Another way of collecting coins is by taking in mind history. Many coin collectors engage in collecting coins during a certain period in history like wars or declarations of independence.

Error coins

There are people who find collecting coins with errors exciting because these kinds of coins are rare nowadays.

There are many ways to collect coins and each way is as fun as the other. One must feel the hobby first before he decides whether to stick with it or not. Coin collecting can require certain amounts of money and the collector must be wise in engaging in such a hobby.

Coin Collections and State Quarters

Coin collections are getting more and more popular these days. A lot of people are already into collecting coins. You see, this hobby is interesting and can be considered an excellent pastime. If you want to start your very own coin collection and you have no idea where to begin, you should check out the State Quarters.

What are State Quarters all about?
Back in 1997, an act was approved and it was called Fifty State Quarter Program. The program started in that same year and run through 2008. The Act is quite popular and in fact, it is the most well-known minted series of coins in the US Mint history.

In 1998, five state quarters were released and it continued for a period of ten years. Every 10 weeks, a quarter was released.

The program also devised a new and unique method of issuing coins – the state quarters were issued based on the year they became part of the US. The state quarters are minted and you can see George Washington’s image at the obverse or front side while on the reverse or back side, you will find a noteworthy design about the specific state.

The program ended in 2008 and after that, the coins were again designed normally, with the reverse side having an eagle design.

Don’t you think collecting these coins is worthy?

You will find it harder to obtain the coins now the program is over because the coins will be considered collectors items and it will be a bit costly on your part.

So, what makes these minted coins different?

Each state chose a unique design which is of great importance to it and the current governor of the state determined the process of selection. Some of the states designated a certain design committee while other states held contests among the residents who came up with a significant and unique design. Some states posted various designs of the coin in their official site and the residents simply placed online votes and the coin that gets the highest votes win.

The coins are greatly in demand and besides, these coins will not be minted ever again. The price of these state quarters will naturally increase as years pass and currently, some of the older state coins amounts to $1 each or even more depending on its condition. Some coin collectors are also into ‘error coins’ collection and these flawed coins can cost more or less $500 each.

The program of State Quarters definitely gained extreme popularity in the US and some people were into some sort of business revolving on the said minted coins. Coin holders are popular and coin collectors can purchase them so that they can keep their collections in an attractive holder.

Youngsters and old alike can now start collecting coins through the State Quarters. If you want, you can inquire at your local state office and see if the coins are still available.

What Type of Coin Should You Collect?

Coin collecting is a fun hobby to start and the thrill of hunting for old coins is enough for many people to continue doing it. Other people consider coin collecting an investment, something they can receive a profit from. If you are one of those people, then you can find several types of coins in this article that will help you determine what others are looking for.

Most coin collectors will look for only a specific kind of coin that will make their collection more valuable and interesting to buyers. Others are collecting for sentimentality and are looking more at the coin’s uniqueness.

Series collectors are those looking for a series of coins that mark every year and every design change made in that coin.

Type collectors are those people who are looking to get one of each coin where there were/are changes made.

ancient gold coinAncient 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.

2012 Silver Canadian Maple Leaf Dragon Privy“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.

A Neophyte’s Guide to Rare Coin Collecting

If you are a neophyte wanting to venture into rare coin collecting as a hobby, there are two new best friends waiting for you. One is the Professional Coin Grading Service price guide and the other is the Red Book guide book. Both of these books will give you lists of coins and their worth so you can safely start your search for rare coins. A further study of these two will lead to an understanding of the criteria and standards used in grading coins. The prices they list down will also give you an idea of how much you need to invest as you go along.

Availability of Rare Coins

Rare coins are not easy to come by so if you are serious about collecting rare coins, be ready to spend time, effort and a good amount of money in acquiring your treasures. Collecting rare coins is an ambitious undertaking especially if you bear in mind the fact that there is a huge population of collectors who may be competing for the acquisition of the same item that you want to buy. At present, in order for a coin to be classified as rare, no more than seventy-five pieces should be known to exist. In other words, a coin has to indeed be rare before it can earn the name.

Flowing Hair DollarSome rare coins have a value of more over a million US dollars. Some coins have no value except for their face value or their metal value. There are lists of coins that are officially considered rare and some reliable professional guidebooks will even include tips on how to rate coin quality. Information on rare coins in some of these guides will explain why such and such a coin is so rare. Explanations will include how many coins were struck and if a substantial number was melted. On top of most if not all rare coin lists is the 1794 Flowing Hair Dollar which is valued at $7,850,000.00. Only 1,750 of this coin were struck so it is virtually impossible to own one.

Factors Affecting Price

Rarity is not the only factor that brings up the prices of rare coins. Other factors such as coin grading enter into the picture. In the same way, the supply and demand for rare coins in the market affects the price of coins. Sometimes temporary spikes in demand occur for certain coins and these are not to be mistaken for a sustained trend.

Advantages of Collecting Rare Coins

While much will be demanded of you if you decide to pursue rare coin collecting, this venture offers advantages of its own.

  • Storage and safekeeping of rare coins is simple. All you need is a safety deposit box. Coins, even rare ones, are sturdier and easier to care for than jewelry.
  • Rare coins are easy to transport.
  • They are a form of investment that is not constantly scrutinized.
  • They serve as an effective hedge against inflation and are a good way to protect wealth during times of economic crises.
  • They are relatively easy to resell through reliable agents and auction houses.

Whether done for fun or for profit, acquiring rare coins is a very worthwhile endeavor. As a newbie, you are probably excited about starting your rare coin collecting activities. At present, the price of rare coins is less than what they cost thirty years ago and many resources predict that prices will go up. This makes the present a good time to invest in rare coins. To decide on which coins you will start your collection with, get a good resource book and look at which rare coins are still within your reach. Once you have decided, conscientiously study different guides and compare the price of these coins. By applying meticulous care in choosing your coins, you will be rewarded not only by the prospect of financial returns; you will also have pieces of history to enjoy for the time that they are with you.

Choosing the Coin Fit for Your Collection

A collector would choose certain specifications when it comes to his coin collections. If a coin collector is new in the business, it is perhaps best to start at the very beginning.  You will probably start your collection based on your preference. Are you the silver, bronze, or gold type of person? How old do you like your coin to be? In what period?

Best advice: start with what interests you. Then collect it by the following:

Date or Period of Time

ancient gold coinCoin collectors who see their collection as an investment would probably prefer coins that are older than their grandfathers. The more ancient the coin, the better. Aside from being centuries old, there are also Revolutionary coins and those that came from another time in history. Some people would start by building up decades of coin that are in Mint condition.

Country

If you have decided to collect any kind of coin for as long as it came from different countries worldwide, that would be tiring but exciting. And it can cost you a lot. So things wouldn’t be exhausting, you could start off by collecting coins of your own country. After that, if you have enough funds, you could drop by a coin shop and ask if there are any coins from outside the country.

Metal

If you’re a beginner, you might not want to start collecting silver or gold coins for these are the kinds of coins that can be quite expensive. Better settle with the lower metal levels first. Not unless money is not a problem. Usually, the concern on what kind of metal to choose belongs to the more professional collector.

By this time you may already have an idea on where to start. As time passes, you will become more interested and selective of the types of coins that fits your album. You will develop areas that you may not find in other collectors.

You still need to know some specifications about the kinds of coins that you will collect.

Details

You have seen an ordinary coin, its features wouldn’t be different from the old one because typically, new coins are just patterned from old coins. You have to inspect if the writing on the coin is still clear. A coin wherein the smallest details, like feathers or robe folds, are completely worn away is of little value.

Toning

Means discoloration or tarnishing, toning can increase the coin’s value. Believe it or not, if a blue tone is present on a silver coin, it can be very desirable. Toning has an effect on a coin’s details for it can accent its faded features. For as long as the tone of the coin wouldn’t turn out uneven, there’s no reason to reject it.

Wear n’ tear

If you have been in coin shops that are offering bargain coins, it might be because it has seen a lot of circulation and the market has already rejected it. You will notice certain kinds of scratches an even scarring that is caused by chemicals. Scratches can be acceptable but scarring is a no-no. Chemical scarring can be related to corrosion, pits, etc. As much as possible, make your coin collections spotless.

Coin Collecting Tips for Hobbyists and Investors

coin collection
Image courtesy of smarnad / FreeDigitalPhotos.net

Whether you are a hobbyist or a serious investor, there are some coin collecting tips that help ensure the quality of your collection. Shared by experts, these tips also help you sell your collection for the right price at the right time. But, whether or not you envision a time when you will be selling your collection or parts of it in the future, applying these tips diligently can enable you to make good buys that adds to the overall value of your collection.

Keep your Tools Handy

A coin collector’s tools should always be ready in case an opportunity comes up to acquire a good piece. These tools include white cotton gloves, coin folders, envelopes, a storage box and a good magnifying glass. Some collectors keeps a loupe to use when they want to view a coin’s details clearly.

Keep a good copy of a grading guide book. This provides you with an explanation of the numerical grading system, with detailed photographs of coins and how they are graded.

Apart from the grading guide, an essential part of your tool assembly is a good guidebook. One example of a guidebook you can keep is A Guidebook of United States Coins which is better known as the Redbook would be a good source of information on US coins. This guidebook, updated annually, includes descriptions and basic grading criteria for each coin design.

A serious collector keeps abreast of coin prices by regularly looking at price guides which list the prices of coins. Price guides are available online from the PCGS and the NGC. Apart from these, Coin World and Numismatic News also publish price guides in addition to their weekly coin papers.

Simple Ways to Prepare for a Purchase

It is never a good idea to invest money in a purchase without investing time and effort in preparation. Here are some simple coin collecting tips to make sure you get a good buy:

  • Do your research. If you have the chance to buy a coin you like, find out how details about it including how many of that coin were minted, its grade, how rare it is and who is selling it.
  • Compare prices using at price guides from reliable grading services. Do not rely on websites or TV programs that are trying to push their own items.
  • Muster your self-control and buy only if you are certain that this coin is a good investment.
  • Examine the coin carefully with a good magnifying glass and a loupe before you write your check. Scratches and dents are not always immediately visible so take care that you have made a detailed inspection of the merchandise. There is no way this can be overemphasized. Even experts have made mistakes by taking for assuming that a coin is all that it seems.

Once you have made the purchase, it is important to store it appropriately, arranged with other coins in an order or design that makes it easy for you to view it both as an individual piece and as part of a bigger collection. Again, it is important that you keep abreast of prices so you know if the value of your acquisitions is going up or down.

Make sure that the quality of your coins remains as good as it was on the day you bought them. Taking care you do not damage your coins when you handle them. Always hold a coin by the edges while wearing gloves. Have a soft cloth ready to catch the coins in case you drop them during handling and most of all, never, never clean or polish them.

Whether you are want to be a serious investor or you just want to start a hobby, these coin collecting tips can be useful for you. Following them helps you make sure that your coins remain valuable regardless of whether you bought them for profit or for fun.

The Morgan Dollars

Probably the most beautiful and collectable coins today – the Morgan dollars.

The Morgan dollars were named after it’s developer, George T. Morgan.  The Morgan dollar is 90% pure silver, also it was minted from 1878 to 1805, and it was minted for a one year in 1921.

Why the oddity of minting the Morgan dollars for just one single year following a 16 year hiatus?  Well, in 1921 the $1 design was modifying from the then current Peace dollar towards the Sacagawea dollar.  Just about eighty-six million Morgan dollars were struck in 1921 by the US Mint, because the replacement wasn’t ready to fulfill the legal requirements set by Congress for maintaining $1 coinage production.

The morgan dollar was overproduced throughout it’s period, and around two-hundred and seventy million Morgan dollars were ruined after it’s mintage was stopped.  For this reason, the Morgan dollar happens to be highly desired by collectors…  Not just for it’s beauty and silver content material, but for it’s rareness.  Needless to say, 1921 is still one of the most common years of mintage linked to the Morgan dollar.

But how are you able to determine a Morgan dollar from other coins just like the Franklin half-dollar or the popular Buffalo coin?  Or even from fakes and duplication copies?

The obverse side will have a different side profile of a woman having a band of laurel intwined in her hair.  This woman is the Lady Liberty, as shown by George T. Morgan.  It comes with an old neoclassical design, and it is easily noticeable from the Peace dollar Lady Liberty.

On the opposite you will notice an eagle, the iconic symbol of the United States, having a wraith that encompasses the eagle.  You will even note the domination “One Dollar”, and the words “United States of America”.

Bring your Morgan and place it on a digital scale.  It should weigh close to 0.7734 ounces.  If it weighs a lot more it’s  a reproduction.  If it weighs considerably less, then, it’s either severely used or a reproduction that has a light metal.

Simple, isn’t it?  Now that you know what you’re trying to find all you have to do now is find some Morgan dollars to buy and collect.

What is PCGS Certified Coins?

Have you been a keen coin enthusiast?  You are!?  Then, I am sure you have heard of PCGS?  No…?  Well, I am sure you have come across certified coins…?

Yet exactly what is a certified coin?  And who or what’s PCGS?

Well, to be aware of this we need to travel back to a period when there were no certified coins neither any certified coin traders.  A time when enthusiasts had to do their particular research and grade the standard of their very own coins as well as the coins they desired to buy.

This is a very tough time in the coin enthusiast in the world!  And the difference of one or two grades could mean plenty of dollars.  For example, lets say you’ve got this Coronet Type half cent from 1840.  You are wanting to promote the coin and you graded it a MS65.  That should enable you to get a simple $300.

So, putting it for sale at the next coin convention, so you obtain a buyer on the hook.  Nevertheless he looks at the coin and grades that it is a MS63.  This is a big difference.  Right now your $300 treasured coin is worth $50 for this purchaser.

Is he becoming truthful OR is he wanting to swindle you?  And this goes either way.  At times you would get some untrustworthy dealers that will try to up the grade on their coin in order to acquire some extra cash in the sale.

Today, if there were simply a trusted third-party who could grade the coin and settle the small dispute.  And there is!  PCGS.

PCGS is a third party grading service company.  PCGS is surely an fair third-party who takes your coin and gives it a certified grade of MS0 to MS70.  After that, to make certain nothing interferes with the certified grade…  PCGS puts the coin into an air tight closed plastic cover.

Contained in the plastic cover is the coin, along with a sheet of paper over the coin which authenticate’s the coin and describes the coin.  Collectors know this as little sheet of paper over the coin the “slab”.

PCGS certified coins are trustworthy by buyers and sellers alike.  This makes them a fantastic company to beat rating disputes if you ever attempt to promote your coin.

You are able to take your gold coin, silver coin, commemorative coin, and virtually any coin you’ve got and deliver it in to PCGS and they will provide a professional quality.

If you are looking to expand your US certified coins collection…  Then search for PCGS certified coins.  Why?  Well, because they’re great investments, because you know precisely what you are purchasing.  PCGS certified coins may also be passed on from one generation to another and they will keep not just their certified grade, but their innate value.

Take a look around on our internet site.  We have a very good assortment of PCGS certified coins up for sale which you’ll add to your very own collection.

2012 1oz Kookaburra High Relief Ultra Cameo

The 2012 1oz Kookaburra “High Relief” Ultra Cameo “Early Releases” Designation on a Very Rare Label.

Own One of Currently ONLY 390 Graded and Certified PF70 in the world!

Reverse Design: This beautiful 1oz includes the Darryl Bellotti design of the “AUSTRALIAN KOOKABURRA”, made with an extra-deep “blank” (known as a Planchet) to accommodate it’s superbly detailed high relief depiction of a Kookaburra perched on a tree branch with gum leaves, the Perth Mint’s ‘P’ mintmark and the 2012 year-date.

More Details:

  • 1 AU Dollar Legal Tender
  • High Quality .999 Pure Silver
  • Completely Sold Out at the Perth Mint
  • Limited Mintage of only 10,000 Coins
  • Very Beautiful and Highly collectible coin
  • Stunning Ultra Cameo “High Relief” Proof Design
  • NGC Graded PF70 with Rare Label portraying the Australian Sydney Opera House

Certified and Graded PF70 by NGC with a Very Rare Label. The Perth Mint struck the coin from 1oz of 99.9% pure silver in proof quality. “Early Releases” Designated coins are struck first at the mint from “FRESH DIEs” and only the first small percentage of coins can be submitted as Early Releases Coins driving higher premiums.

The Perth Mint’s unbeatable minting expertise, use of advanced manufacturing technology and design artistry, contribute to their reputation as producer of the highest quality Australian collectible silver coins in the world.

Obverse Design: The coin depicts the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II on the obverse and is issued as legal tender under the Australian Currency Act 1965.

Coin Values

So, you’ve got some silver great coins?  You’ve been collecting coins for a few years right now, and you have amassed a good selection of Buffalo coins, some bullion coins, a few error coins, along with a whole bunch of Morgan and Peace dollars.

Are you aware of what your collection will probably be worth?  What it’s gold and silver coin values are?  What it’s worth is to other coin enthusiasts?

Gold and silver coins are actually used as currency for a lot of years.  The very first acknowledged coins were first made about 700 B.C.  That’s eons ago!  Still, we have need of precious metal coins, as well as a need to collect them.

You see, even in today’s society where we exchange paper currency for products and services…  Silver and gold is still a real trading commodity.  The truth is, once when our paper currency have been just gold and silver certificates backed by authorities and finance institutions.

These days we don’t mint many coins in gold and silver, and the coins we do mint in silver, gold, palladium and platinum are generally gathered for his or her numismatic coin values instead of exchanged for products or services.

Instead of using a silver coin to buy a Coca-Cola…  You would use a modern-day quarter made from copper and nickel, and you also would save your valuable silver coins for a longer term expense.

But how can you confirm your coin’s value?  Coin values vary greatly!  And first thing which assists to figure out your rare metal coin values is the economy.

When the economy is doing good, then, the price of the dollar to the cost of precious metals is less.  Even so, when the economy is going through tough times, such as a recession, coin worth will rise in cost as the spot cost of precious metals rise in price regarding the dollar.

Thus, many people choose to sell their bullion coins throughout tough economy periods.  This means you’ll have an abundance of coins to include in your gold or silver portfolio.

Though the spot value of silver or gold is not the just aspect in finding out coin values.

As an illustration, coin worth depends on whether or not a coin is certified or not.  If a silver coin is licensed by a respected company and rated for it’s perfection, then, it requires a greater premium over uncertified coins.

One example is a PCGS certified 2000 American Silver Eagle that is graded MS70.  This coin could be worth more to a coin hobbyist than both a lesser graded Silver Eagle, or even a Brilliant Uncirculated Silver Eagle.

Another determining factor of coin worth is the supply available and the demand for that supply.  It’s business 101!

Here’s an illustration.  Not long ago on eBay a 2002 American Silver Eagle certified to become MS70 along with a First Strike edition bought for $9,000.  Right now, the spot expense of silver was just about $35 during the time, but this coin exceeded WAY beyond that.  Why?

Well, due to the fact there have been only 17 coins that year chosen as First Strike by NGC and graded MS70.  The supply was minimal BUT demand was great!

As mentioned earlier, there are various reasons to figure out your coin values, but if you do a little research into what are the spot value of your precious metal is And discover the quality of your coins…  Then, you’ll have greater comprehension of it’s value.

Collecting Antique Silver Coins

Collecting silver coins is a fun activity and has been very popular because it not only serves as a hobby but as an option to generate income.

1804_dollar_obverseSome of the most popular types of silver coins that are sought by collectors are the antique coins. Antique coins may be bought from auction sales, coin shows, online and offline coin dealers, other collectors, and even in tourist areas that have historical themes. Who knows, you may even turn up a few of these antique coins up in the attic where grandma or grandpa’s things may be stashed away.

Many collectors hesitate to buy antique coins because they can be terribly expensive. What is most important is the uniqueness of these coins and the benefits they provide their collectors. Besides the intrinsic value of these coins, they also provide a fascinating window into the history of the nation. Antique silver coins vary greatly in price depending on the age of the coin, its condition and its rarity.

Here are some tips that may be considered when buying antique silver coins:
More on Collecting Antique Silver Coins

Goodbye Penny and Nickel Coins in 2013

Skewnews.com is reporting that Canada recently announced that they would be phasing out their penny coin. On the heels of the Canadian announcement, U.S. Treasury Secretary, Tim Giethner stated in a press conference today that the U.S. Mint will remove the penny and nickel coins from circulation, starting early in January 2013.

Due to the rising costs of zinc and production related expenses, the U.S. Mint now spends 4.8 cents to make a penny. And the cost of copper and nickel have inflated the cost to create a nickel coin to 16.2 cents.

Gone in 2013

In 2011, the U.S. mint made over 4.9 billion pennies, at a cost of $118 million to make. That is $236 million to produce only $49 million worth of pennies, a loss of $187 million in minting costs. Minting the nickel coin also represents a significant loss in revenue.

By comparison, the dime (which costs 9.2 cents to mint) and the quarter (21.31 cents) are economically more feasible, and will continue in circulation through 2013. However, according to Giethner, the dime may be in jeopardy as early as 2014.

Once the phase out of pennies and nickels begins, merchants must be equipped to round all transactions to the nearest ten-cent increment.

If something costs $1.53, for instance, it will be rounded down to $1.50, and a transaction for $1.55 or higher will be rounded up to $1.60. Credit card, debit and check payments would also be subject to the rounding rule. It is expected that the rounding will not result in higher costs for purchases or losses for merchants.

Pennies and nickels will continue to hold their inherent cash value, and they can be traded in at financial institutions. Banks will then return the coins to the mint for recycling into their base materials. By mid 2013 it is expected that the penny and nickel will both be mostly removed from the U.S. economy.

Steps to Take in How to Sell Your Coin Collection

There are several steps that must be taken in figuring out how to sell a coin collection. There are many auction websites that allow individuals to more easily sell a coin collection online, although there are other ways in which an individual can sell a collection in more traditional methods. If you have been working on a coin collection for years then you will be thoroughly versed in the value of the different coins in the collection so that you will not have to do as much research to find a buyer. In addition, as a collector of coins, you will also be more informed about the different buyers on the market, having probably bought and sold to them during the course of collecting the coins over the years.

First Steps

For those who have not been a coin collector for years, how to sell a coin collection can be a very daunting task. Often a coin collection is inherited leaving the individual seeking information on how to sell a coin collection. Unfortunately, there is not an easy method of selling it unless the individual has a trusted individual that is knowledgeable in coin collections and can take care of the process for him. Otherwise, the individual must do a lot of homework to find just the right person or company to buy the coin collection.

One of the first steps in how to sell a coin collection is to determine what coins are in the collection and what they are each worth. Sometimes the coin collection will contain only one type of coin, some of which are not worth much in themselves but are worth something when in a multitude. With this situation, the individual will not want to spend all of his time counting thousands of coins. The solution is to find out what the coins weigh and then find a scale on which the coins can be accurately weighed to determine the amount that there are in the pile.

If there is more of a variety in the coins, then the individual must use books and experts to determine the types of coins in the collection and what their possible worth might be. This is one of the hardest parts for a novice in how to sell a coin collection since they are not familiar with the coins and will not be as able to determine if the coin is in mint condition or if it has flaws that are barely visible to the naked eye.

Assessing the Benefits in Silver Coin Collecting

We’ve seen over the past five years the collapse and near collapse of financial giants and companies considered too big to fail. Because of this, many people are looking for alternative investment opportunities and quite a number have considered silver coin collecting as possibility. If you are one of the many people who want to try collecting silver coins for profit, there are several things to consider ensuring your efforts will pay off.

Silver Bullion Coins

If you are seriously considering silver coins as part of your investment portfolio, you need to first of all decide if you want to collect silver bullion coins or if you want to buy silver coins that were minted and circulated as legal tender.

Silver bullion coins are generally made of 99.9 percent silver except for the British silver Britannia which has a silver content of 95.8 per cent. Normally, the face value of a silver bullion coin is lower than its actual market value. For example, the Canadian Silver Leaf is a one Troy once silver bullion coin with a face value of five dollars and a market value of over thirty dollars based on the market price of silver.

Silver bullion coins provide good protection against any economic meltdown, but if you are expecting spectacular profits from investing in this coin, you will be disappointed. Financial gains with this particular investment only happen over the course of time, when the bullion coins in your safety deposit box rise in value in consonance with the price of silver.

Investment Coins

Apart from silver bullion coins, you can also go for the other type of silver coins which are sometimes referred to as investment coins. Generally, these are coins are made of at least 90 per cent silver and are, or have been, a legal tender in their country of origin.

In the past five to ten years, increasing silver prices have made these coins a popular choice for collectors. On one hand, there is always a chance to one day sell currency coins for a big margin of profit, but on the other hand, there are bigger risks in this direction because factors such as demand and popularity enter the picture.

On the plus side, silver is cheaper than gold so it is possible to begin acquiring a silver coin collection without breaking the bank. American silver coins that are not categorized as rare have a prize range of two to twenty dollars.

What to Keep in Mind

There are certain things to keep in mind to keep your money safe as you go about silver coin collecting.

  • Always do your research before you make a purchase. If a coin is worth a lot of money, look for official authentication. Find out if the coin has maintained good value over time.
  • Go for high quality coins which are more certain to appreciate in value than oddities. Double check quality and grade by using reliable resources like the official Red Book.
  • Keep clear of TV or internet bargains. Remember that if anything sounds too good to be true, it usually is.
  • Provide good storage for your collection. Good storage does not mean a shoebox hidden away in your closet or in your file cabinet. Get a safety deposit box.
  • If you want to go about silver coin collecting as an investment, be ready to sell when the price is right.

Many resources say that the outlook for silver is good and that the annual demand for this metal exceeds the supply, Moreover with the current economic situation, more and more people are becoming interested in using this metal as a way of keeping their money safe. The side effect of this increased demand would be to further drive prices of silver up, making it a good investment today. However, even with these rosy predictions, it is good to practice due diligence and caution. This way, although you may not make a killing in your investments, you will be better assured of both profit and protection in silver coin collecting.

When is the Perfect Time to Sell Coins

When is the perfect time to sell coins? This may be a dumb question if asked of a coin collector however timing really does make a difference. There are times when a collector wakes up in the morning and suddenly makes a decision to sell his precious collection of coins. There are also times that a collector needs to give up his coin collections due for personal reasons and the idea of selling his precious coins may be the most difficult part. No matter what the reasons are, it is a fact that this does occur in the life of a coin collector.

There are many reasons why coin collectors sell their coins – there are coin collectors who are dealers as well. Selling coins is their option and they may use it to generate income so that they can acquire other coins that they like.

Some collectors travel in search of a coin they want and during that travel, they may encounter coins that may not be qualified for their own collection but they buy them anyway. Upon returning home, they sell the coins they have purchased and make use of the money to buy the coins they are looking for.

There are also coin collectors who gather coins not just as their hobbies; these coin collectors use the coins as their source of income. They make a living from selling the coins that they collect. Sometimes they sell the coins to other collectors and price them higher than the usual price of the coins and this is appropriate if the collector owns limited edition or rare coins.

On the other hand, some collectors sell their coins because of other factors. They may sell coins because of personal reasons. Collectors sometimes decide to “give away” their collection because they no longer have any option but sell their coins. This is the most difficult situation for coin collectors as they often value their coins and as much as possible would not want to give them away – the coins may be memorabilia or may have sentimental value to the collector.

Once a collector has decided to sell his coins, he must consider if it is really the right time to sell the coins. Is the collector ready to give away his coins? Is the coin at higher price now? Will it do well and will he benefit from selling his coins? These factors should always be considered.

There are other options available to determine where a coin collector could sell his coins. He may want to sell the coins at auctions. Many people now prefer the option of putting their belongings up for auction and this is not limited to coin collections.

There is also a higher chance of having the coin sold at a higher price since auctions include bidding processes. Buyers may bid for a higher price especially if the coin being sold is of rare quality and has a higher value.

A collector may also want to put up a website to advertise the coins that he would like to sell. The Internet is the easiest way for collectors to search for coins. In addition, putting the coin on the Internet will make the selling an easier task. The collector may put up his own website and place the pictures of his coins and some brief descriptions on it. He should also note how much he is willing sell them for.

There are other options too: the seller may want to do a dealer-to-dealer negotiation. He can go directly to coin dealers and sell his coins. The dealers then can sell the coins that they purchased to other dealers.

It is important to compare prices between one dealer and another as there is always a chance that one dealer may buy the coins at a higher price than other dealer. It is wise to shop for dealers and then decide which you one you want to deal with.

It is also recommended that collectors who decide to sell their coins use a coin grading service. It is very important so that the seller not end up a loser when he sells his coins. By using a grading service, the seller will be able to set a price that is based on the assessment made by the grading service who will determine the actual value of the coins.

Most importantly, coin collector should not clean their coins once they have decided to sell them. If they do, the value of the coins will depreciate.

Finding Collectible Coins

Collecting coins is one of the most universal pastimes known to man. Currently there are millions around the globe that partake in the wonderful world of what has been called, “The Hobby of the Kings”. Lately, you may have heard news of people cashing in on their old gold and silver coins; 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.

Coin Shops:

Many coin 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 knows a great deal about coin collecting at your side, you can get great prices for your coins.

Coin Shows:

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 Order/Web Sites:

There are thousands of dealers worldwide and most of them have websites that allow buy coins and pay for them 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.

ISN Modern Coins is a trusted premier Modern coins dealer specializing in the sale of high grade modern day graded and certified government struck coins from around the world. Our wide variety of coins include but is not limited to “Mint State” and “Proof” American Silver Eagles, Australian Koala’s, Chinese Pandas, Lunar Series Coins and much more. No matter what your coin desires are, ISN more than likely can fulfill them.

All coins at ISN Modern Coins are certified and graded by either NGC “Numismatic Guarantee Corporation” or PCGS “Professional Coin Grading Service” as these are the only two trusted third party certification companies industry wide with decades of numismatic and coin grading experience.

Flea Markets:

It would be 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.

Auctions:

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.

Top Coin Pick for May – 2012 Silver Canadian Maple Leaf Dragon Privy

2012 Silver Canadian Maple Leaf DragonReverse Proof Privy Marked Silver Maple Leaf commemorating the Year of the Dragon! A highly symbolic mythical animal, the Dragon is a sign of wealth and prosperity in the Chinese Zodiac.

Mintage of just 25,000 coins directly from the Royal Canadian Mint!
With a very limited mintage of only 25,000 coins worldwide, this limited edition of the Canadian Mint classic is a true collector’s piece. The 99.99% reverse proof pure silver coin has a unique proof and frosted finish, adding an additional touch of collectability to this already beautiful coin.

The Red Dragon label from PCGS is a rare label! This coin is stunning and is sure to rise in value.

This Silver Maple Leaf coin features a privy mark of a traditional Chinese Dragon on the reverse to the left of the maple leaf’s stem in reverse proof design and has been graded a near perfect Specimen 69 by PCGS!

At ISN Modern Coins we want you to be 100% Satisfied! We proudly stand behind every item we sell and guarantee that all precious metal items are genuine, contain the weight, fineness, and purity that we have advertised.

Every month ISN Modern Coins introduces a Rare, “Hand Picked”, different coin at an exceptional price. Be sure to come back again and again to take advantage of these specially featured coins.

ISN Modern Coins is a trusted premier Modern coins dealer specializing in the sale of high grade modern day graded and certified government struck coins from around the world. Our wide variety of coins include but is not limited to “Mint State” and “Proof” American Silver Eagles, Australian Koala’s, Chinese Pandas, Lunar Series Coins and much more. No matter what your coin desires are, ISN more than likely can fulfill them. Buy with confidence and if you’re not 100% satisfied we will provide you with a refund, no questions asked!

Here’s a coin review coin from IrixGuy, the Coin Pirate.

Coin TV Can Help You In Your Numismatic Accumulating Attempts!

Regardless of whether you are a devoted numismatics collector or if you have just started with assembling a currency collection, Coin Television can end up being an essential source of information. In a nutshell, Coin Television is basically a television program which notifies serious numismatists about typical, uncommon and very rare coinage to add with their selection. The benefit of the TV show does not just stay in the simplicity of purchasing a rare coin, but also within the fact that the collector does not have to pay additional to visit all over in order to complete his coin selection.

Whilst accumulating currency by way of Coin TV is actually an overall entertaining activity, the fantastic information for those who’re just beginning their particular set is that it could be a profitable pastime also. Essentially, what Coin TV is offering for completely new enthusiasts is the ability to locate and acquire unusual however cost-effective denomination. Consequentially, you’ll be in a position to get a jump start on your own coin selection without needing to invest quite a lot to boost its valuation. However, this isn’t a really tight rule and it is possible to locate and acquire precious loose change as well, assuming your price range enables you.

Another benefit of viewing the numismatic shows on Coin Television is that you will possess a possibility to catch a glimpse of various items and collection agencies. In other words, you will be capable to work out the variations you desire to collect and begin focusing your endeavors in this direction. General, Coin TV is a gold mine of info which can assist you clarify your inclinations and decisions. At the exact same time, this television show may help more developed coin hobbyists discover the rare products that are missing from their set. Furthermore, despite the fact that passionate denomination hobbyists will not need to bother with all of the loose change offered, it is actually nevertheless gratifying and gives a feeling of comfort to be aware of the regular assessment value for the money they already have in their collection.

The whole process of purchasing currency from Coin Television is easy and it necessitates keeping an eye out for denomination ads. When you see a thing that is missing from the collection, all you want to do is contact them and learn whatever you should do to acquire the coin. Due to the fact costs of the variations will always be listed inside the ads on Coin TV that implies you will simply have to find out about how exactly you buy it. If you are nervous that you do not have far too much time on your hands to watch Coin Television, a recommendation is to record the show and observe it later on, whenever your timetable will allow it.

This article is obligated to make a number of clarifications concerning Coin TV plus the unfavorable promotion linked with acquiring money by means of teleshopping shows. This TV show concentrates on showing fascinating and genuine info regarding money and numismatics generally speaking. For that reason, it has almost nothing regarding TV shopping show deals which are attempting to offer worthless commemorative loose change at premium costs.

How to Take Care of Collectible Coins

There are collectors that specifically find classic editions of coins that existed during the period from 1892 to 1954. These coins have marked events or may signify the work of royalty during that period. There are those collectors that prefer the modern series that are very distinct as well.

Many collectible coins are made of copper and a collector may encounter problems in maintaining their features and appearance. A person collecting this type of coin should learn how to maintain and take proper care of these expensive collections. Copper coins should be cleaned correctly and must be preserved the same way professional collectors treat their coins.

Most coin collectors believe that a person should never ever clean their collection because they believe that any product that is applied to the coin will affect the surface.

Professional collectors clean their coins by the process of placing the coins in a container that is airtight. This is a safe way to preserve the features of the coins. Because of the coins’ years of circulation, there is the possibility of a coin accumulating encrustations, coatings, dirt, and other problems on a coin’s face. These accumulations may cause pitting and corrosion to the surface of the copper coin. The corroded portions should be removed properly without making any scratches.

There are products available that are made especially for coin cleaning. You can usually find these products at your local coin dealer or through an online source. One product made for this purpose is MS70 which removes corrosion and other surface dirt. It is advisable to use rubber gloves for the protection of your hands, as MS70 can dry the skin but this should be of little concern because it is not that harsh on the skin. A soft toothbrush may help with cleaning and removing any dirt that is on the surface of the coin. Improvement in the appearance of the coin will be seen after it has been soaked and cleaned. If satisfaction is not met on the cleanliness and appearance of the coin, you may add baking soda to neutralize the MS70 and soak it in warm water.

After a through soaking, you can dry the coin using a Blue Ribbon coin cleaner and preservative; apply a coat and dry it for a couple of days then wipe the damp parts with soft cotton balls and place it on a small cardboard with a space on the center.

If you find discoloring on the coin, you may use Dellars Darkener after the coin has soaked in MS70. Use this product before applying the Blue Ribbon cleaner and preservative until you are satisfied with the cleanliness of the coin. Once satisfied with the new appearance of the coin, return it to its set or collection.

The next step would be maintenance and preservation the collection. A person should know how to preserve their collection and avoid dirt from touching the coins. Here are some tips on how to take care of coin collections:

  • The coin should be protected from exposure to any kind of elements. It is also important not to scratch the coins; they should be handled with care to avoid scratches on the surface of the coins.
  • It is safe to store the coins in plastic cases or pockets that are made specifically for coin collections and sets. These cases and pockets can protect the coins from dirt and scratches.
  • Coins should be cleaned properly using vinegar, lemon juice, ammonia or rubbing alcohol.
  • If there is unwanted dirt that is hard to remove on the surface, chemical products for cleaning like Tarnex may be used. This option may be used if vinegar and lemon juice were not able to remove the dirt.
  • It is very important to remember that the value of the coin may depreciate if the coin has been cleaned. It is recommended to seek the advice of an expert on other ways of preserving a coin.

Choosing to Sell a Coin Collection

For those who have been in the coin collecting business for some time, selling a coin collection is as natural as breathing, since they have been a buyer for many years. However, there are some individuals that have come into the possession of a coin collection that do not know how to sell a coin collection they want to get rid of. There are many different people and dealers that are in the market for prime coin collections so that it is fairly easy to find a buyer if certain steps are taken to prepare the collection for sale.

Steps to Take

There are several steps that need to be taken in selling a coin collection, which take time and effort that not everyone is willing to take, especially if the collection is inherited. The first step is to become informed of the value of the different coins in the collection. There are many books that contain this information, but it does take time to identify the different coins and determine what their worth is on the market today. A good Internet source for locating U.S. coin values is coinflation.com. In addition, there might by hundreds of coins that are not worth very much but need to be sold. These books tell how much these coins weigh so that the individual can weigh them instead of count that multitude of coins in figuring out what the coin collection is worth.

The next step is to do more homework, this time on the background of the different dealers that are on the market today that buy coin collections. Some of these dealers are affiliated with a professional organization, such as the Better Business Bureau so that the individual knows that they are legitimate buyers. There are some independent coin collectors that will buy coin collections. It is important to talk to these individuals beforehand to try and screen them for which ones are serious collectors and legitimate rather than a scam artist.

After that, the coin collection should be offered for bids by the different buyers. Not surprisingly, there are some buyers who do not want the coin collection from the person trying to sell their coin collection. There are many different reasons for this, such as the types of coins in the collection, and many dealers are very particular about what collections they invest in. Individuals trying to sell their coin collection should not give up, however, but should pursue other buyers until they have several bids and can decide to close the deal.