Coins Collection

Coins have been always been a part of our country’s history. Prominent people are featured on them. A change of government is sometimes accompanied by a change of currency. The look and feel of these coins reflects the advancements in technology as scientists find more complex metal combinations.

Coins’ being of historical value is one of the many factors why people collect them. Beauty and variety also contribute to the collector’s growing numbers.

To be a collector, you must be aware of how to ascertain the worth of your coins. Who knows, you might just be holding on to a very rare artifact, or one that would cost millions on an auction or bidding.

First step in being a coin collector is to look up literature. You need to be in the know of what coins are available out there, where to get them and how to get them. This is extremely valuable to one who’d see the coins as a form of investment.

You also need to determine four things before you take a coin to your collection. You need to identify them, have them authenticated and examine them for damage. This would be vital points to consider in collection coins.

To identify them, you need to look at your coins very thoroughly and note the shape, the colors, and the writings. You also need to verify which country issued that coin. If there is no denomination on the face of the coins, it’s just a token or probably a medal.

Authentic coins should be treasured and prized. They’re hard to find, especially if they are rare, limited issues. A lot of fakes and counterfeit coins are available in the market, so beware!

The value of your coin will depend upon its grade. Coin catalogs usually have their own, specific grading guidelines but here’s a general list of them.

* Mint State Perfect Uncirculated (MS-70) is an uncirculated coin. It should show no apparent damage and be in top shape. It is considered to be the best quality of coin possible.

* Uncirculated (MS-60) is another uncirculated coin having a few scratches on contact marks and that have lost some of its sheen.

* About Uncirculated (AU-50) is a coin which has evidence of light wear on most parts but still retains at least half of its original sheen.

* Extremely Fine (EF-40) is coin wherein the coin design is lightly worn off but the features can be still distinguished and are still quite sharp.

* Very Fine (VF-20) is another coin wherein some of fine details like hair or eyebrows are mostly worn off. There is evidence of modest wear on some points of the design but all major parts are still clearly etched.

* Very Good (VG-8) is a coin wherein even though the rim is still clearly visible, the design is almost worn off and only few details of it are clear.

* Good (G-4) are coins that are heavily worn but the design and the legend are still visible. Much of the details are gone.

* About Good (AG-3) are coins that are very heavily worn that some of the lettering and the original design are not discernible anymore.

Damaged coins come across frequently in the course of a collector’s quest. Most collectors steer off coins that have undergone cleaning or re-polishing. Corroded, scratched and drilled into coins are also a big turn off. Although it’s sometimes hard to find one, it’s better to find an untampered specimen.

The question on most beginners’ minds is this: How much do I get paid for a particular coin. The answer is: It varies everywhere. It depends on the qualities of the coin as well as the guide the buyer is using. For a general idea of pricing, here’s a quick list.

1. U.S. wheat cents (1958 and earlier) that were in circulation goes for a few cents to 3 dollars each.

2. 1943 “steel pennies are very uncommon and of high value 1943 cents set on a normal bronze planchet. They are tested to determine if it attracts magnets and if so, it is plated using copper. They are sold for 5 to 50 cents if circulated, and up to a dollar or two if not in circulation.

3. Silver dimes, quarter and half dollars from 1964 or earlier are composed of almost 90% silver. So their amount depends on their silver content.

4. Silver dollars from 1935 and up are collector favorites and can be usually be sold for more than their value in silver . The less common the date, the higher the pricing goes.

5. Susan B. Anthony dollars are worth about one dollar.

6. Bicentennial quarters, half and dollars are usually worth what’s on their face value.

7. Coins in commemoration of the wedding of Prince Charles and Princess Diana are spotted to cost from $5 to $30.

8. A coin with two heads, tails or those that have different designs of two coins have no value to collectors because they are coins that have been change to introduce a novelty item.

There are also the kinds of coins that are made by mistake. These are called ‘mules’ and are often produced because of an error in pairing different dies. Expect rare coins like these to cost a little higher than most.

So with these things in mind, have fun in making your own collection grow. Who knows what part of history you’ll discover by finding rare specimens.

Lee Dobbins writes for http://collecting.leisure-webzone.com where you can learn more about coins and other antiques and collectibles.

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Coin collecting, or numismatics is a hobby as old as time. As a hobby, it has been around for more than 2,500 years. This is surprising since the use of coins has been around for pretty much that same amount of time too. Man has always had a fixation for small, round, shiny things. And throughout the ages, coin collectors have always been on the prowl for the oldest, rarest, most attractive coins around.

Numismatics comes from the Greek word nomisma, meaning ‘currency,’ or coin. It is also related to the study of banknotes, tokens, and other early forms of money.

Coins and other forms of money are issued by governments and other monetary agencies. Billions of these flood the market yearly. But as time goes by, the number of these coins go down. Some get lost and some are damaged beyond recognition.

This goes to show that the older the coin, the rarer it must be. And for coin collectors, this is prime stuff.

Coin collectors and hobbyists number millions around the world. This hobby is taken so seriously that there are even professional dealers and investors who ply their trade in this fashion.

The lure of coins lies in its power to draw people into the era it belonged to. These coins show many aspects of everyday life during those times. By examining a coin, one comes to know the geography, philosophy, sociology, artistry and other aspects of the culture they existed in.

Ancient kings (and even today’s leaders) had a telling habit of having their faces imprinted on their currency. Some historians have been able to put together clues regarding the ancient civilizations using these coins. Sometimes, coins would tell of a leader or prominent figure that would have been forgotten by time if it were not for these coins.

Hobbyists usually start collecting coins from their own locality. This makes sense because they are the easiest to collect. These hobbyists then expand their collection to coins from increasingly farther and earlier origins.

Coin collectors regard every single coin as a unique specimen. They take note of the date, the mint marks, and even the abnormalities in its design. Ironically, some of the most expensive coins are those with the strangest abnormalities. This is because this type of coin is hard to come by.

For example, there could be a coin in existence that differs from other coins in its batch. For some unknown reason, it lacks some of the required markings. Such coins are deemed more valuable than the normal coins of its type.

A good number of coin collectors collect coins according to themes. The coins they collect all have a common topic. Some collect coins related to kings and queens. Some collect those related to plants and animals.

The price for a coin is determined by the demand for this coin. Many factors affect this demand. If a coin is rare, chances are, it is in great demand. However, there are some coins that are rare, or exotic, yet the demand for them remains low. If this is the case, then its market value will remain in the low end.

Before purchasing coins, one must do much research about that coin. He must assess its current market value and make sure that the coin is genuine. He should also consider how much he could earn if he resells the coin.

The American Numismatic Association is the largest numismatic organization in the world. It was founded in 1891 and was chartered by the Congress of the United States 21 years later. This group has the largest library of coins available. Collectors would love to visit their headquarters, the World Money Museum, which is one of the largest coin museums in the world.

Another organization, the American Numismatic Society, is the most active and respected nonprofit numismatic publisher in the world. They maintain a museum that contains more than a million objects. They also have a library that has one of the most comprehensive in coin collecting knowledge.

Whether you are a hobbyist or a serious collector, coin collecting will always bring a sense of fulfillment and history to your life. It is never too late to start collecting today. You can’t lose! Your collection can only grow in value as the time passes by!

For more great coin collecting info and advice check out: http://www.just-coins.com

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Coin collecting has become a multi-billion dollar industry across the world. The earliest coin collecting hobby can be traced back to about 1300 AD when Francesco Petrarca, an Italian scholar and poet, started saving coins and realized the growing value of his collection over time. Coin collecting differs from numismatics in that the latter is focused on the study of different types of currency including coins, notes and other monetary objects.

Coin collectors specialize in different types of collections. Often this is determined by the financial resources that can be invested as well as ease of availability of the type of coins. Collections vary from focusing on a specific country (often the most common form of coin collection since it’s easier to accumulate coins from one’s own country or a country that one frequently travels to) to a certain historic era like the US Colonial Period, the Russian Revolution etc.

Other obscure forms of collection include focusing on collecting error coins or exonumia where coins created due to die errors, uneven designs, double strikes, etc. are in great demand. A much more specialized but highly difficult form of collection is to focus on coins from a specific civilization in history, like the Roman, Celtic, Aryan or Goth eras.

Those interested in coin collecting can find hundreds of coin collecting clubs in their areas where members gather to discuss trends in numismatics as well as to evaluate rare coins. In the US, the American Numismatic Association has a large roster of coin collectors from around the country. Formed in 1891, this organization encourages research and collection of different types of currencies. The ANA brings out a monthly magazine called the Numismatist that is a treasure trove of data for the avid collector. The ANA also publishes a coin value determination guide that provides clarity around the complex subject of coin valuation.

The coin collection market, like the stock and real estate market, has its ups and downs. The value of a coin is cyclical and can vary strongly based on demand or other current events. Often, coin collectors will find that certain coins may never appreciate over time even though they may be from a unique era or period. Conversely, other commonly found coins like the 1 cent from, say a Lincoln era, may appreciate in value. Many coins may also incur costs for storage since they may have to be kept in sterile conditions to prevent damage from oxidation or general touch.

For those interested in coin collecting, the easiest way to start is by collecting coins from their own country and then gradually focusing on a specialized area. There are numerous stores (both physical and online) that carry a large inventory of rare coins. Auction sites like eBay also have frequent listing of rare coins. Caution must be exercised when purchasing from online stores since certificates of authenticity can be tampered and fake photographs can also be published. If possible, it is recommended to use online escrow services that will collect the payment on behalf of the seller and subsequently pay the seller only after the buyer receives and verifies the coin.

Michael Russell
Your Independent guide to Coin Collecting

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