Coin collecting for a long time was pretty wild. You were able to make just about any claim that you wanted to about the coins you were selling and nobody would be any wiser. The first grading scales did not do much to alleviate this. This is because they were based on adjectives rather than on a numbered grading scale. It was difficult to determine a fine from a very fine because the terms were too loose. There were also gaps between the adjectives which allowed for too much play in the defining of the coin value.

Dr. William Herbert Sheldon created a scale in 1948 that us still followed by numismatists to this day. His scale was designed to use numbers rather than names to describe the different grades. While names are still used with the Sheldon Scale – as it is known – you are more likely to hear MS65, AU50, F15 or even PR01, rather than Mint State 65, Almost Uncirculated 50, Fine 15 or Poor 01 respectively. The details which surround how a coin will be graded on the Sheldon Scale are resolute. This means if you find a coin value to be based on a grade of AU52, you are likely to find that another will grade it the same way.

Cheap to Expensive

As the numbers get higher in the Sheldon Scale, so does the coin value. Unfortunately, there is not much that you can do to change the value of a coin to get a higher grade. The only thing you can do is to store the coin correctly so that the value does not drop. The difference in the grades is often significant from one grade to the next. In fact, depending on the coin, the value can jump 2 to 3 times the value of the grade below it.

A Grade You Can Believe In

One of the great things about the Sheldon Scale in terms of buying and selling collector’s coins is that you will not have to scrutinize the coin once it has been graded. This is of course assuming that you trust the seller. As long as they have a good reputation of buying and selling genuine and well graded coins, you have a pretty good chance that the coins you are purchasing will be at the right coin value.

Maintaining Value

Sustained value is something every coin collector looks for. A coin which increases in value is something every collector hopes for. The good thing about when you purchase a coin that has been graded on the Sheldon Scale is that you have a better chance of the coin at least maintaining its coin value. This will allow you to enjoy a collection which will hold the value that you have placed into it. The reason why they hold their value is because graded coins rarely lose value over time. They will either stay the same or they will increase in value.

Photo Credits: Wessex Archaeology

Originally posted 2010-08-27 03:27:57. Republished by Blog Post Promoter

There are many different kinds of coins you can collect out there. Among the most popular to collect is the American coin. This is because to date the American coin collector is one of the preeminent collectors in the industry. Other countries like Australia and Canada are starting to grow in the amount of collectors, but they still do not compare to the amount of collectors which have established themselves in the United States. This presents an opportunity and a challenge for all people looking to get started collecting these types of coins.

If you are looking to get started with your own American coin collection, there are a few things you should keep in mind. The first thing that you will have to decide is how much you are willing to spend on your collection. Once you have this figured out, you may want to decide how you would like to display your collection. You should always make sure that the coins you purchase have been graded and certified so that you will know that you have a collection which is genuine and also you will know how much your collection is worth.

How Much You Will Pay

Coin collecting is a hobby which everyone can get involved in. If you do not have a lot of money, you can start by collecting some of the commemorative coins which are put out by the U.S. Mint. These include the state quarters and the recent President dollars. Those looking to spend more money can chase the Morgan silver dollar or even seek out the gold 1933 Eagle coin. Spending a lot of money only means that your collection will be worth a lot now. It is possible to spend a little and end up with treasures which will be worth a fortune later as long as you take good care of them.

Different Ways to Display Your Coin Collection

Collections can be displayed in a number of different ways. The most common way to display a collection is laid out on a luminescent surface. This is because you will likely have the coins in the slab that they were put into when they were certified. Others will decide to instead display their coins in a matted frame. These do not have to be reserved for just commemorative coins. You can use the mat for just about any kind of coin as long as you do not mind that it is out of reach.

Grading and Certification

Having your coins graded by a third party is a great way to make sure that your American coin collection is certified as the quality that it is. This is a great way to know what it is that you have in your collection. It is also a great way to make sure that you will be able to protect your coins for future generations to enjoy. The sooner you get it graded and certified, the sooner you will stop any aging problems the coin might encounter.

Photo Credits: Astro Guy

Originally posted 2010-08-21 03:16:00. Republished by Blog Post Promoter

The most valuable silver dollar is the 1804 Silver Dollar with the Draped Bust. As a side note, this coin is not only the most valuable in the silver coin category; it is presently the most valuable in the world. As with any coin, there are a few different reasons for the extreme value of the coin. Taking a closer look at these reasons will help you to understand more about coin collecting in general and what factors a coin can have in order to make it one of the most valuable coins available.

Much of what makes the 1804 silver coin so valuable is the rarity of the coin. Only 15 specimens are known to exist. This is out of the less than 20,000 which were originally produced in 1804 and in 1834. The tale of the coin has a lot to do with the value of the coin as does the beauty of the coin. These are just a few of the factors which make the Draped Bust one of the most valuable coins in American history and one of the coins which stands among the most valued in the world.

Rarity of the Coin

The rarity of the silver coin has a lot to do with the value of the coin itself. This is why a coin which has only 15 left in existence is such a valuable coin While many of the coins ended up residing in Siam and Oman, the rest of the coins live in museums like the Smithsonian Institution and the American Numismatic Association Museum. There are only six coins known to exist in private collections. There have been many fakes, but because of the difficulty of reproducing such a coin, most have been discovered.

The Story of the Coin

The original 1804 silver coin was created in 1804 based on the 1803 die. This was a way for the Mint to be able to save money in order to produce the coins which were needed in circulation. Less than 20,000 of these coins were produced making them few in number to begin with. In 1834 the government reused the die but kept the 1804 date. This was confusing to many people. The coins were then given as gifts to Asian countries to thank them for maintaining trade with the United States.  Between 1858 and 1860 there were two versions of the coin which were struck by Theodore Eckfeldt. These comprise the Class II and Class III versions of the coin and were not intended to be distributed. All of the class II coins were seized by a handful of the Class III coins got out to the public.

The Beauty of the Coin

The “>silver coin was created with the intent to look beautiful and its portrayal of lady liberty on the obverse is one of the most striking features. The eagle on the reverse is also quite striking in its use of stars olive branches, arrows and other embellishments.

Photo Credits: Legend Numismatics

Originally posted 2010-08-31 09:14:25. Republished by Blog Post Promoter

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

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

Coin collecting is something which more people are being turned on to every year. The reasons for collecting can be because the collector wants to have a fun hobby. It can also be because the collector wants to have something which is of high value in their possession. No matter what the reason for getting started with coin collecting, it is important that you will be able to understand how to determine coin values. This is because even if you are not looking to collect coins to turn a profit, you do not want to end up with a fake or a coin which is not what it was advertised to be.

It is actually very simple to understand how to determine coin values as soon as you know what it is that you are looking for. Having the right equipment like a 10X power magnifying loop will help you in this endeavor. You will then be able to look for the kinds of things which will cause a coin to drop down the Sheldon Scale. There are three main things you will need to look for in order to determine the value that you see in a coin.

Luminescence

One of the main things which will separate a Mint State coin from an Almost Uncirculated coin is the amount of luminescence or luster the coin has. Only coins which have never been handled by human hands will still have the shine which is present right when the coin is first struck. The less luster the coin has, the less the value of the coin will be. The coin values can drop significantly even if there are no other problems with the coin. This is because the coin will simply not be as attractive to look at.

Scratches

Scratches can happen when the coin is circulated. It can also happen when the coin has been scratched by the machinery when it was struck. This is why there are different levels of the Mint State coins. While all Mint State coins have higher coin values than other grades, you will not be able to get the full value that a flawless coin would have. There is also a distinction between scratches which occur on the obverse (head) rather than on the reverse (tail). Scratches on the obverse have a much more dramatic effect on the value of the coin.

Wearing

Wearing of the coin is when the face or the obverse is when the relief of the coin is worn down. This wearing will have a huge effect on the coin values. Simply look at the amount of distinction there is in different features. The wearing happens when the coins are rubbed against each other as well as when they are affected by the environment they are in. Some coins which were stored in plastic flips from the 80s were worn down because of the PVC which was contained in the plastic. This caused them to go down in value rather than being protected.

Photo Credits: kevindooley

Originally posted 2010-09-01 08:52:25. Republished by Blog Post Promoter

There are few types of coins which vary in value more than the Morgan Dollar. The Morgan Dollars were created in 1878 and was minted until 1904. It was minted for one additional year in 1921. While there are other silver dollars which have been minted since, this is one of the best known for its wide varieties of value and the amount of errors which have surrounded the coin. The coin has a picture of lady liberty with part of her neck in profile on the obverse. The eagle is on the reverse.

When looking to buy these US dollars, it is common for people to want to purchase the ones which will be worth the most. This means looking for the Morgan Dollars which come from three specific years. This is due in part to the low mintage as well as the high number of controversy and the amount of mistakes which have occurred during the mintage years. The three most valuable years include the years of 1889, 1893 and 1895. In some years the mint is more valuable and in other years the proof is more valuable. It all depends on the amount minted and their value to the collector.

The 1889-CC Mintage:

The CC version of this coin was only able to produce 200,346 coins. This is a very low number when you consider that the majority of years included a mintage which stood more in the millions than in the hundreds of thousands. Finding one of these coins is extremely difficult to do as most of the collectors which have them are looking to hold on to them as long as possible. They know that the price of these Morgan Dollars is apt to go up significantly before they will be ready to sell.

The 1893-S Mintage:

There were only 100,000 of the 1893 Morgan Dollars which were minted. This is a number which is disputed as many will tell you that there were actually only 77,000 produced. No matter how many were actually minted, it appears that there are very few left available today. It is estimated that some of these coins which can be graded at MS 65 have a value at or above $600,000. There are other reports which value the coins at far less than that. This means you have some haggling in your future.

The 1895 Proof:

There were only 880 proofs which were made of these Morgan Dollars. To give you an idea of how much the proof is worth, the coin which was a part of a 12,000 set minted is worth $80,000. This means anyone who is holding on to one of these pieces has a small fortune waiting for them when they decide that they are ready to sell. The trick is making sure to find the right buyer and making sure to stick to your guns so that you can get the price that you deserve for having one of the rarest of all of the Morgan Dollars.

Photo Credits: FrictionShifter

Originally posted 2010-08-16 09:03:45. Republished by Blog Post Promoter

Any coin collector will tell you that buying and selling coins is not always a straight forward process. While there are industry averages for what a piece is worth, it does not mean that the individual dealer will want to purchase it for that price. The art of haggling comes in vary handy when you are trying to buy and sell coins. This is not easy for every coin collector to do. You might rather simply purchase the piece for what it is being sold or take the amount which you have determined is your low-ball price. This is what many coin dealers are banking on.

You see, the coin dealers are in the business of making money. The higher they can sell and the lower they can buy coins, the more money they can make. This is why no matter what the price is that is agreed upon by the industry, they will try to get you to agree to a different price. It is up to you to get the best deal that you can get so that you are making a wise investment or sale. You will have to become good at haggling.

Know the Market

The first thing you will need to know is that you will not be able to expect that you will get exactly what the value of the coin is on the market when selling to coin dealers. This is because they will be selling at or slightly above what the market values the coins at. This is so that they can make a profit. Remember, you are not selling the coin to a collector. You are selling it to a business. If you know the market and you know that the value of the coin is on the rise, you might be able to negotiate a deal where you get it a market price.

Offer Them Sell Points

If you have a coin which has already been graded by one of the major third party grading services and it has been sealed in a slab you will have a much easier time selling it to coin dealers. This is because you have saved the time and cost the dealer would have had to invest to do the same. Saving them from having to do the work will make the coin more valuable to them because they will be able to have a faster turnaround in being able to sell the coin for a profit.

Work With Reputable Coin Dealers

Any dealer that works with a code of ethics will offer you a better deal for the coins that you want to buy or sell. These are dealers which are active in the community and will be willing to give you the price that you deserve. Make sure that you are able to offer them a price that they can consider. You will then need to make sure that you have a number which you will not go below to sell. Make sure that your initial offer is realistic.

Photo Credits: Clearly Ambiguous

Originally posted 2010-08-30 08:45:26. Republished by Blog Post Promoter

Coin collecting is something which is enjoyed by people of all ages. It is something which has become more than just a hobby for most people. For many it is a business. This is not to say that everyone knows what they are doing when they get started selling coins after they have purchased them. It takes the right kind of information to be able to make sure that you are selling your collectable coin for the best possible profit. Luckily, this is information anyone can happen upon and it does not take an inordinate amount of skill to be able to get a good price for the coins that you are selling.

For the most part, you will just need a few good tips to get you started in the right direction. These tips will help you to understand what a dealer or other collector will likely look for when they are looking to make a purchase. This way you can give them what they want. In return you will be able to sell your collectable coin for the price you want.

Learn to grade your coins

The grade a collectable coin is at will have a lot to do with how much you will be able to sell it for. You will need to know this for a few different reasons. You will want to make sure that the third party grader you send your coin to does not over grade it. You also want to make sure that when you go to sell it that the purchaser does not dispute the grade of the coin. If you know your grades, you will be able to point out how the different qualities of the coin squarely place it in the grade that you are selling it as.

Get your coins certified

Another great way to make sure that your collectable coin will not be undervalued is to get the grade certified. This is best done with one of the major third party grade services. Companies like ICG, NGC and PCGS offer top notch certifications which will be recognized throughout the industry. This will shore up any dispute between you and the seller. You can usually tack on any certification and grading costs on to the price that you are selling the coin for if you have the chops to haggle the price upward.

Sell according to the market

The only way to get the price that you want is to know what price you want. The market for your collectable coin is always in fluctuation. This is because the value of the coin varies depending on what the market knows about it. If the coin is of lower value, the market you are likely to be watching will be the bullion market so that you will know what the value of the metal is worth. Remember that the price which the market states is relative. Certain buyers will seem the coin worth more or less. It is up to you to find the ones which will pay more for your coin.

Photo Credits: Steve Thoroughgood

Originally posted 2010-08-27 09:34:38. Republished by Blog Post Promoter

If you have your eye on specific coins with value you need to think about how you can acquire those coins. While some people are simply able to purchase these coins outright, others are going to need to get slightly creative with how they approach their purchase.

Bargaining is an important tool for those who are in coin collecting and are looking to be able to get coins with value. Taking the time to understand some simple bargaining tactics and learning how to bargain with more than just money will help you to see success.

Work the Price Down

The basis of any good bargaining process is to work the price down, giving you the best possible deal for the coins that you are looking to purchase. This is something that you need to work down before you attempt the next two steps or tricks.

Work on your negotiating skills and try to negotiate the price down to something lower and more manageable. It is important for you to research the coin before trying to work the price down, as your knowledge of the true value of the coin will put you on a level playing field with the dealer. You will know how much the coin is worth, when you will be getting a steal, and when you need to walk away from the transaction due to price.

Installments

If you are trying to bargain for coins with value and the person or dealer wants more for the coin that you can handle, consider asking for payment installations. Ask them if they would like to write up a small contract, stating that you will pay the coin off in installments. You may not see the coin until you have paid all installments, but the coin will be saved for you. This helps both parties to get what they want, a fair compromise and a good bargaining tactic for those who feel the coin they want is out of reach.

Other Coins

If you have some coins in your collection that you do not want anymore, ask if you can pay off some of the debt for the coin with other coins. Some shops will be willing to make a transaction like this, even though they do not see upfront money, because they can potential up-sell the coins and make more money than they would have made if you paid upfront.

While it may take you some time to learn how to work the price down, the effort will be worth it. While you may find someone who is working to work in installments or take other coins for coins with value, others may not. This is why you need to foster strong relationship with coin dealers in the area and work to get them on your side. The closer your relationship is with these other coin collectors and profession coin shop owners, the easier it will be for you to bargain for coins with value.

Photo Credits: Svadilfari

Originally posted 2011-04-22 03:19:52. Republished by Blog Post Promoter