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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Another term that has some of the newer error coin collectors scratching their heads is brockages. The term is certainly not self defining that much is certain and it points to a very rare occurrence in the minting process. This is one of those errors that is extremely hard to locate and above all else, very valuable.

Brockages occur when two coins are involved in the same retaining collar. First off you need a coin that is already struck and it is stuck in the retaining collar. Then a new coin blank is inserted. Once this occurs the dies come in for the strike and both of the coins are affected by said strike.

What you end up getting is a coin blank with a mirror image of the already struck coins impression incused into the surface. This is basically a coin that was struck backwards and has no raised impression on the brockages side of the coin.

For newer coinage it is a fairly rare occurrence to find this type of error. Because of the new counter measures that the mint has in place the operator is alerted when a coin fails to eject from the retaining collar. When this occurs the operator shuts down the machine and removes the coin and checks for defects in the machine.

The older coins are more common to find brockages. Before a lot of stress was being put on the mint about the errors that were being produced many of this type of coin error were released. However, when it comes to error coins the older the coin the more valuable the coin. So brockages in the older mints do command a much higher price than one would expect.

Brockages are not unheard of though when it comes to the newer coinage. One of the most significant examples recently sold at auction and it was a nice New Jersey state quarter that had complete reverse brockage of the reverse image.

All in all you will find that most of the brockages that appear these days are not full impressions, but just partly so as the blank attempts to fall away because the retaining collar is full. These examples still have a fair amount of value and can command a hefty price.

Brad Hall is the editor for http://us-mint-coins.blogspot.com the number one resource for brockages and other coin errors.

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A challenge coin is a small coin or medallion bearing an organization’s insignia or emblem and is carried by the organization’s members. They are given to prove membership when challenged and to enhance morale.
Origins of the challenge coin

Like so many other aspects of military tradition, the origins of the challenge coin are a matter of much debate with little supporting evidence. While many organizations and services claim to have been the originators of the challenge coin, the most commonly held view is that the tradition began in the United States Army Air Service (a forerunner of the current United States Air Force).

Air warfare was a new phenomenon during World War I, when the army created flying squadrons and manned them with volunteer pilots from every walk of civilian life.

While some of the early pilots came from working class or rural backgrounds, many were wealthy Ivy League students who withdrew from classes in the middle of the year, drawn by the adventure and romance of the new form of warfare.

As the legend goes, one such Ivy Leaguer, a wealthy lieutenant, ordered small, solid-bronze medallions (or coins) struck, which he then presented to the other pilots in his squadron as mementos of their service together. The coin was gold-plated, bore the squadron’s insignia, and was quite valuable.

One of the pilots in the squadron, who had never owned anything like the coin, placed it in a leather pouch he wore around his neck for safekeeping.

A short while later, this pilot’s aircraft was heavily damaged by ground fire (other sources claim it was an aerial dog fight), forcing him to land behind enemy lines and allowing him to be captured by the Germans. The Germans confiscated the personal belongings from his pockets, but they didn’t catch the leather pouch around his neck.

On his way to a permanent prisoner of war facility, he was held overnight in a small German-held French village near the front. During the night, the town was bombarded by the British, creating enough confusion to allow the pilot to escape.

The pilot avoided German patrols by donning civilian attire, but all of his identification had been confiscated so he had no way to prove his identity. With great difficulty, he sneaked across no-man’s land and made contact with a French patrol. Unfortunately for him, the French had been on the lookout for German saboteurs dressed as civilians.

The French mistook the American pilot for a German saboteur and immediately prepared to execute him. Desperate to prove his allegiance and without any identification, the pilot pulled out the coin from his leather pouch and showed it to his French captors. One of the Frenchmen recognized the unit insignia on the coin and delayed the execution long enough to confirm the pilot’s identity.

Once the pilot safely returned to his squadron, it became a tradition for all members to carry their coin at all times. To ensure compliance, the pilots would challenge each other to produce the coin. If the challenged couldn’t produce the coin, he was required to buy a drink of choice for the challenger; if the challenged could produce the coin, the challenger would purchase the drink.

This tradition spread to other flying squadrons and, eventually, to other military units in all branches of service and even to non military organizations. Today, challenge coins are given to members upon joining an organization, as an award to improve morale, and sold to commemorate special occasions or as fundraisers.
The coin check

The tradition of a coin check is the most common way to ensure that members are properly carrying their coin. The coin check, which can be held at any time, begins with the challenger drawing his/her coin, holding it in the air, loudly announcing “coin check” and/or dropping the coin on the table or bar. (Should the coin be accidentally dropped, a coin check is still initiated.)

Everyone being challenged must immediately produce the coin for their organization and anyone failing to do so must buy a round of drinks for the challenger and everyone else who has their challenge coin. However, should everyone challenged be able to produce their coin, the challenger must buy a round of drinks for the group.
Other considerations

Challenge coins may not be attached to belt buckles or key rings and still be considered challenge coins, and they may not be defaced in any way (such as drilling a hole to attach to a lanyard). A generally safe place to carry a coin is in a pouch worn around the neck (like the pilot in the legend).

Carrying a challenge coin in the wallet is problematic because the distinctive circular bulge identifies the individual as a military membera serious security consideration in many placesand because it can loosely resemble a condom (and therefore open the individual up to an endless series of jokes from his/her friends).

Cost

Challenge coins are moderately expensive; as of 2005 in the United States, typical costs run about US$250 to set up the die and then from US$7.00 to to US$2.50 per coin to stamp, depending on quantity, colors, textures, and so on. Thus, a run of 25 coins may cost about US$425 total (US$17 each), while a run of 1000 coins may cost about $2750 total (US$2.75 each).

Challenge coins in popular culture

At the end of the long-running American adventure drama television show JAG, the two main characters decide to marry, then flip a challenge coin to decide who will resign his or her military career to accompany the other to a new duty station. The final image freezes with the coin in the air; the audience never sees it fall.

Challenge Coin - Enjoy information on Challenge Coins. The historical perspective of Challenge Coin.

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