Collectors are constantly looking for a new direction for their hobby and their collection. There are many who get into coin collecting by collecting some newer coins — many even stay within a few decades of coin collecting years, as the pieces are simply easier to find. At some point, serious collectors decide to move on from something simple and move into collecting old money.

The approach that you must take to old money is different from the approach that you have probably taken for the rest of your collection. There is an art form to collecting old money, a system that is going to help you to be as successful as possible. If you are looking to add collecting old money to your coin collecting skills, these steps will help you out.

Make Friends

The first thing that you must do in your hunt for old money is make friends with different coin dealers in your area. You want to start a relationship with them and want to start to get to know them. They may have a passion for old money and will want to help you in your coin collecting ventures. They will be more likely to help you search for coins and pick up the coins that you want if you have a good relationship with them.

Do Research

Research is an important part of collecting any type of currency, but is of utmost importance when hunting for old money. You need to understand everything from mint condition to value when looking for the money. You will also want to research counterfeits, as it will help you to avoid them as you search for the money.

Have a Budget

If you want to be a successful collector you need to work with a budget. While it may be tempting to break this budget for old money, you need to stick to your allotted spending. This will help to make sure that you know what monies are in your price range, and will keep you reigned in as you are immersed in a world of rare and expensive currency.

Negotiate

One important aspect of coin collecting is negotiation. This continues to be important for those who are working to collecting old money, as they want to be sure that they are getting a fair price for the money. You need to know what a reasonable price for the coin is and work to get the price down to that level. This helps to keep you from over-paying for old money.

Collecting old money is not as simple as collecting recent money. You need to think about the way that you are seeking out the money and need to research to be as knowledgeable as possible. All of these steps will make it easier for you to find what you are looking for. If you work to follow these different tips and steps, you are simply more likely to find the old money that you are looking to add to your collection.

Photo Credits: Roger Smith

Originally posted 2011-05-23 03:56:37. Republished by Blog Post Promoter

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When you are deciding whether or not you would like to add a specific coin to your collection, one of the things that you are going to want to take into account is rare coin values. The rare coin values that you find will ultimately be determined by availability of the coin, demand on the coin, condition of the coin and also the grading for the coin.

Demand and Availability

The demand on a specific coin is going to be capable of significantly increasing the rare coin values. A common coin which is prized highly by collectors is going to have a much higher value than common coins that are sought by fewer collectors. Rare coin values often come from the fact that rare coins have much higher levels of demand in comparison to other common coins.

For example, despite their age, some older Roman and Greek coins are relatively inexpensive in nature simply because they are so abundant. You should also keep in mind that the current availability of the coin is not indicated by the number of coins that was actually minted, as there are situations where coins are destroyed or become lost, affecting the availability of the coin.

Condition

Just a very small difference in a coin’s condition is capable of making a really large difference in its price. Coins that have been used as currency can become worn naturally, and so uncirculated coins are generally capable of fetching a much higher price in comparison to the coins that have been circulated.

For example, a 1913 Buffalo Nickel that was uncirculated has been known to fetch 10 times more in mint condition than a similar coin that is no longer in mint condition because it was circulated.

There are a number of grading services that evaluate the condition of a coin in order to confirm its authenticity and value. There are four factors that are used to find rare coin values, including:

- Strike – Coins that are well struck are coins that have a distinct impression in their metal.

- Visual Appeal – Some coins have a luster that is soft and satin while others are more reflective in their surface. Some coins are actually colorful while others are plainer. Make sure that you are aware of what appeals specifically to you before you make a purchase.

- Luster - Dull coins are not as appealing as bright and dazzling luster. However, coins that have been doctored or cleaned are generally avoided by many serious collectors. If you find a coin that has a bright luster despite having been circulated, it has more than likely been polished.

- Wear - Deterioration can significantly decrease a coin’s value, including hairlines and contact marks. Wear is going to first occur on the coin’s highest points in most cases.

Photo Credits: gemteck1

Originally posted 2009-09-24 03:57:16. Republished by Blog Post Promoter

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Any time you collect things, there is a time in which you will have to sell them. This is never easy as you might have an attachment to the piece itself or you may just have a difficult time making sure that you are getting the right price for the piece that you have. Whenever you are getting ready to sell coin paper money, there are a few things that you will have to keep in mind. This will help to make sure that you are getting the right value as well as making sure that you will not be haggled on the price.

In order to make sure that you are selling anything from your coin paper money collection correctly, you will need to make sure that you are first getting the grade right. Additionally, you will need to make sure that they are properly protected. Of course, you should also know where it is that you will be able to sell these things at. This will help you to be able to get the kinds of prices that you are looking for on your collection. You will not have to worry about getting ripped off in the process.

Get Your Collection Graded

It is possible for you to grade coin paper money at your home with some degree of accuracy. There are books and websites which are dedicated to helping you with being able to determine the value of certain things. They will tell you about what kinds of characteristics to look for which will change the grade. Of course, still the best way that you will be able to grade your coin paper money collection is to make sure that you are having it graded by a professional organization like PCGS.

Protect Your Collection

If you have your coin paper money collection professionally graded, they will often protect them in a sealed container for you. Of course, there are other kinds of containers that you can buy for paper and coin currencies. These will help to make sure that the value of the currency will be able to remain the same. It will also help you to be able to assure those that you are selling to that you have taken every step to make sure that the currency remains in the best condition possible.

Where to Sell

Of course, the most important part of selling anything is actually selling it. This is why it is a good idea to know where you can easily sell items from your coin paper money collection. One of the best ways that you will be able to sell these is in person to another collector. You can also sell at collector’s shows. Additionally, you can sell them to collector’s shops which might exist in your town. If you choose to sell online, make sure that your coins are professionally graded so there will be no way to dispute the value of the currency that you are selling.

Photo Credits: montuno

Originally posted 2011-06-08 03:05:36. Republished by Blog Post Promoter

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There are hundreds of different coin collector shops in every state, with each coin collector shop claiming to be the best shop for finding your coins. There are positives and negatives to working with each shop – pros and cons that you would not figure out if you do not take the time to look into each shop.

There are a few different things that you are going to want to look into as you work to find a coin collector shop that can meet your needs. These are some of the things that you will want to look into as you work to expand your collection.

Reputation

You do not want to work with a coin collector shop that is known for pushing counterfeit bills or for poor customer service. Speak with other collectors in your area and read online reviews to get a feel for the different coin collector shops in your area. You may find that there are a few rotten eggs in your town, coin collector shops that you will not want to work with for your own collection.

Variety

You want to work with coin collector shops that have a wide variety of pieces. A collector shop that is too narrow in their coin and paper money choices will often fail to have the pieces that you are looking for. A store with variety is constantly changing, and may eventually have the coins that you are interested in collecting.

Fair Price

You should never work with a company that is prone to trying to rip people off. Take a look at the prices of the coins that you know the value of. While slightly higher prices are to be expected, price gouging is not. If you find a shop that is practicing in price gouging, you may want to move on to a different coin collector shop.

Negotiations

The only saving grace for shops that charge too much are shops that are willing to negotiate. They may often be willing to negotiate drastically – simply raising prices to ensure that they wind up with a fair deal for the coin on their own end of the sale. If you run into a coin collector shop with high prices that is unwilling to negotiate, move on to a different shop. You should never pay too much for a coin.

If you are serious about coin collecting you are going to want to make sure that you find reputable coin collector shops to work with. These different shops are going to be able to provide you with the coins and paper money that you need for your collection. They will offer the money at fair prices and will help you to ensure you avoid counterfeits. These are just some of the major benefits of a good coin collector shop that are found when you know what to look for in each shop.

Photo Credits: Le Petit Poulailler

Originally posted 2011-01-17 03:56:01. Republished by Blog Post Promoter

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There are different ways that you will be able to enjoy the money that you collect. You can be a beginner or you can be a seasoned collector and you will still be able to enjoy it just as much. For many, the joy of collecting currency is simply the hunt. Finding those rare pieces of immaculate quality will allow you to enjoy them even more when they are hard won. Of course, if you are just getting started, you will need to know a thing or two about the paper money you are looking to collect.

Among the different things that you will need to know about the paper money out there is all of the different kinds which exist. You will also need to know about the dangers which your money faces over time. Additionally, you should be able to learn more about the grading process which will evaluate the value of the currency that you have. This will allow you to be able to enjoy the collection that you have even more because you will be able to get the most from it.

Learning the Varieties

There are many different cultures throughout history which have used the paper money to allow their citizens to be able to buy and sell the different things that they want. These different cultures use things which are symbolic to their culture as well as marking of their form of government to adorn their currency. You will be able to learn all about the different cultures as well as their values just by looking at the currencies that they produce. It helps for you to get a few books as well as to research online before you buy anything so you know what you are buying.

Protecting Your Paper

Once you have the paper money which you will add to your collection, you will be able to make sure that you are getting everything that you will need to protect the paper itself. This is possible as long as you are making sure to keep it from getting wet, soiled as well as protecting it from direct sunlight. While the rag paper which is used in most currencies allows the paper to be extremely durable, it is still susceptible to tearing, soiling and fading in the sunlight. Protect your currency so that it will stay valuable.

Get to Know Grading

All of the paper money you have in your collection has a certain value. Much of what determines the value of what you have in your collection is based on the grade of the item. This will allow you to be able to get everything that you will need do that you will be able to know not only what kind of item that you have, but what makes it special. Any cuts, tears, creases, soil or fading will decrease the grade of the item. Have it graded by a professional organization to know more.

Photo Credits: zen

Originally posted 2011-09-16 08:55:31. Republished by Blog Post Promoter

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Coin collectors lead interesting lives, dominated by their thoughts of history through the currency used at different times. These individuals are going to spend large amounts of their income, both happy and excited to spend the money when they find the coins that they want.

If you are thinking about getting into coin collecting, you should work to understand the life of a coin collector. It will help you to better understand what you are going to be doing and how much passion and thought you are going to have to put into your collection.

Budgeting

If you are going to get serious about coin collecting you are going to need to budget. Serious coin collector individuals have a budget to help ensure that they do not spend too much money on their collection. Many will also set specific budget for different coins that they want. It helps to make sure that they do not overspend for coins, as they do not want to spend far over the actual value of the coin. Budgeting is key to a successful collection, as it promotes and ensures longevity.

Cleaning and Displaying

Some people will try to get into serious coin collecting without thinking about the changes that are found. Many of these people are surprised to find out that they need to clean their coins and that they need to consider more serious and professional ways of displaying the coins. You need to clean all of the coins to make sure that they stay in mint condition – those who do not take care of their coins will find that the coins lose value and can be damaged. If yo are more serious about collecting, you are also going to want to display your coins. These displays take time to build and require some money to put together.

Negotiating

If you do not work on your negotiation skills when you work to collect coins, you will pay too much. Your collection will not be as successful, and may wind up costing you far too much money. Practice your negotiation skills and do not be scared to negotiation. Learning how to work prices down and knowing when to walk away when the other party will not back down are key aspects of serious collecting. You will spend less money and will increase the value of your own collection.

It is important for all to understand that they can turn coin collecting into anything that they want to. You can take this as seriously or as light-heartedly as you would like. Just know that this is a type of hobby that is incredibly easy to become immersed in. You should fully understand the life of a serious coin collector and think about whether or not this is the type of serious collecting you can handle. You may find that this is right up your alley, or that you want to take collecting less seriously and know what you what to avoid.

Photo Credits: rick

Originally posted 2011-05-18 03:46:15. Republished by Blog Post Promoter

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There are many different ways that you will be able to enjoy yourself whenever you have free time. One of the different ways that people have been finding to be quite a lot of fun is to choose all of the different ways that you will be able to collect money. You can choose between paper and coin collecting whenever you choose to collect money. You will also be able to choose between the different currencies of the world. This includes all of the different kinds of world coin collecting that you will be able to enjoy.

In order to be able to enjoy world coin collecting, there are a few things that you will need to know about. Among the different things that you will need to know about is that you will need to know about the currencies for the different countries you want to collect from. You will also need to know something about the history of each kind of coins. Of course, you will also need to know the characteristics of the coins you are looking to collect. This will help you to be able to get everything that you will need so that you will be able to have the best collection you can have.

Learn about the Currency

The first thing that you will need to know about whenever you are looking to get started with world coin collecting is that you will need to know about the currency itself. This means that you will need to know about the different amounts that have been created as well as what these amounts are worth in terms of the items that they can buy. This is important to know in the current market as well as whenever the coin was first printed.

Learn about the History

Every coin has a history. When you are involved in world coin collecting, there is a lot of history that you will need to learn. This is the reason why so many of the people that get involved in it will stick to one country or another. It is simply too much to learn all of the history of all of the coins. You will be able to find out about the history whenever you are looking in places like online, in books or through the different collectors. This will help you to be able to pass along the history to those who buy from you as well as to understand the value of the coins better.

Learn about the Characteristics

There are many different characteristics that you will need to know about when involved with world coin collecting. To get everything that you will need, you will be able to draw on what you know about the history of the coin as well as the changes which have been made. This will help you to know whenever you will be able to get more for the different coins that you are trying to sell and buy.

Photo Credits: Ancient Art

Originally posted 2011-09-21 09:02:00. Republished by Blog Post Promoter

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Coins and Paper Money -> Paper Money: US -> Large Size Notes -> Federal Reserve Notes

One of the most interesting collectibles in the field of coins and paper money are federal reserve notes. However, there is quite a bit of confusion out there about what these notes really are. If you are serious about getting into collecting federal reserve notes, there are a few things you need to know before you get started.

1. Knowing the Difference

There is a big difference between federal reserve notes and federal reserve bank notes. The first term refers to actual paper money, while the second is a specific type of banknote that is only produced by the Federal Reserve. Each one has a different collectible value, and it’s important to be able to tell the difference when you are collecting them. Some will be worth more than others, but generally, regular federal reserve notes are quite collectible.

2. Understanding the Fiat

The fiat, or agreement with a federal reserve note is that the reserve is not obligated to pay the face value of the note in gold or silver. In other words, this type of currency is not backed by a gold or silver standard. This works in both ways for collectors. For example, a $5 note may be worth much more than that, while a $100 note that is not collectible may only be worth $100.

3. The Two Dollar Bill

Surprisingly enough, one of the most collectible federal reserve notes is the $2 bill. All joking aside, these are a lot of fun to collect and many kids get their start with one of these bills. These actually can be spent just like regular money, but if you do find one of these, it’s best to put aside since the overall value may exceed the face value.

4. Condition Matters

As with most collectibles, the overall condition of a federal reserve note will determine its actual value. Ideally, you should look for notes that have not been circulated, but these may be hard to find. You should be able to come across notes that are referred to as “crisp” however. These are in perfect condition and are considered to be the best collectibles.

5. The Older the Better

Anytime you can find a federal reserve note that is at least fifty years old and still in good condition, there is the potential that it could be very valuable. At the very least, it will be worth more than the face value of the note. For example, a $10 federal reserve note that was printed in 1950 in great condition may be worth three times the face value. As notes age, they will become more valuable in many cases, so it is a good idea to keep looking.

If you do decide to collect federal reserve notes, it is important to do your research and stay on top of current trends. You never know – you may just be sitting on a gold mine, even if the note isn’t backed by the gold standard.

Photo Credits: pbarnhart_cedarpark

Originally posted 2008-09-18 14:00:00. Republished by Blog Post Promoter

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Coin collecting can be an exhilarating and exciting hobby, as serious coin collectors find fun and entertainment through collecting some of the most interesting pieces of currency in the world. There are people who spend years seeking out a specific coin – the feeling of finally finding and purchasing that coin is unlike anything else in the world.

It is possible for some to take coin collecting too far, losing out on the fun of collecting and possibly putting themselves in financial distress. It is important for all who are in coin collecting to understand how coin collecting can go too far. As a coin collector, you need to know appropriate limits for the collection to ensure complete enjoyment.

Spending Too Much

The biggest problem that coin collectors run into when getting too far into their collection is money. They fail to put together a budget for their coin collection for a year, or for a specific coin. suddenly, they’re missing payments for important bills and utilities and find themselves in monetary stress. If you find that you are spending too much on coin collecting as compared to the rest of your life, step back and reevaluate. You can easily set up a budget and force yourself to stick to that budget – this will help to alleviate the problem and keep your collection from going to far.

Not Viewing Your Collection

Think about all of the money that you have poured into your collection and all of the time that you have put into your collection. Now think about the last time that you put your coins on display, and the last time that you looked at your coins for your own pleasure. If you do not view your coin collection and do not get a good feeling from viewing the collection, you have gone too far. A coin collector who does not like to look at their collection regularly has allowed their hobby and their collection to turn into something resembling a job. You should enjoy your collection on a regular basis – if not, you may want to scale back.

Losing the Fun

Some people lose the fun in more ways than one. They get angry when they go out and look for coins, upset at the prices or upset at coin collector shop owners who are difficult to negotiate with. While you want to get the best price and want to find the right coin, you need to relax. If you are getting angry while collecting, you are removing the fun from the situation and will not enjoy your collection as a whole.

Some people simply dive into coin collecting without giving thought to potential issues and consequences. While it is important for all to find a hobby that they love and enjoy, it is also important to keep it at a safe level. By understanding the possibility of going too far, you can be a coin collector that finds the important balance between making calculated decisions and enjoying your full collection.

Photo Credits: Axel Bührmann

Originally posted 2011-05-04 09:45:53. Republished by Blog Post Promoter

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Money -> Small-Cents -> Lincoln-Wheat-1909-1958

Probably one of the easiest coins to acquire for a coin collection is the wheat penny. This coin was a United States penny minted from 1909 to 1958. The coin goes by many names, including the Lincoln Wheat Cent and Wheatie, and was worth 1 cent at the time it was minted. While few are worth more than that today, some uncirculated mintings have gone for thousands of dollars at auction.

Most of us who had grandparents or parents who kept pennies in jars have been able to search through those coins and find at least one wheat penny or two. The front of the penny looks indistinguishable, at first glance at least, from the pennies minted today because they still bear the bust of Lincoln on the front (or obverse) side of the coin. The back of course is different, because the two wheat stalks that were on the reverse of the wheat penny were replaced with the Lincoln memorial in 1959.

The change in the reverse design, however, isn’t the only different between the wheat penny and the modern penny. And there are even variations among wheat pennies, depending on the year the penny was minted. Some of the wheat pennies produced in the beginning featured the initials of the sculptor, Victor David Brenner, on the reverse side of the coin below the wheat stalks.

This was a cause of controversy, however, and in 1918 the initials VDB were moved to the front of the coin. You must look very closely at a wheat penny from those early years and you’ll see the tiny initials on the bottom of Lincoln’s bust, below his shoulder. The coins produced before the change was made in California are more valuable than most other types of these pennies, because less than half a million were produced by that mint before the public complained enough about the prominent initial display to have it changed.

These early pennies are called “VDB” cents due to the placement of the initials. If you happen to find a 1909 wheat penny with those initials on the back below the wheat stalks that was minted in San Francisco, California, even if the coin is in poor condition, it could be worth hundreds of dollars. Mint coins with that configuration can go for much, much more. VDB cents minted in Philadelphia hold much less value, because more were produced. The 1914-D coins are also typically quite valuable.

A wheat penny with a minting error can also be valuable, such as the 1922 penny that looks plain because the die was full and couldn’t imprint the coin, and one produced in 1955 which appears minted twice, known as the doubled die coin.

If you can find lots of wheat pennies for very little money, you might enjoy looking for these different variations. Someone without an interest in the wheat penny who puts several up for auction in a lot might not even be aware that they’re selling a gem.

Originally posted 2008-11-17 14:00:16. Republished by Blog Post Promoter

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