Coin Collecting

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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There are several important and interesting pieces of information that can make starting a coin collection much easier and more fun. The best thing for anyone who is considering entering into the world of coin collecting is to do a little research before they begin a collection. It is even a good idea to do some research before one starts to buy the supplies that need to start collecting coins. This is because the more one knows about the art, culture, and technical information regarding collectable coins the more likely they are to be successful coin collectors.

Most of the research one needs to just get stated on creating a coin collection can be done independently. This is because coin collecting has been a serious hobby for some time now and therefore there are many experts on the subject. Many of these experts have created various materials and teaching tools to help those who are getting into the exciting world of collectable coins. This means that the first steps in learning about this type of collection can not only be easy, but they are also quite affordable.

Books to Read

Several of the experts who are recognized as being experts in the world of coin collection have written books on the subject. There are many experts who have written books to make collecting coins easy for those who are just starting to build their collections. Many of these books can be found at your local library. If you are looking for specific books, and you want to obtain a book to keep as reference, you may want to look in your local book store instead. The books you will find on coin collecting basics are generally inexpensive and can be a very wise investment. This is because the information in these books can help you save money and even help you earn money with your future collection.

Looking Online

Many coin collecting enthusiasts have been making use of the internet these days. Some experienced, and even professional coin collectors, are now writing blogs or offer public forums to answer questions about coin collecting. There are even some coin collectors who have begum to offer online video series for those who have just started a coin collection. Now matter which if these internet tools you may you use, there is one thing you will want to look for in all of them. You will want to make sure that the coin experts you are getting your information are independent. Those who are not may really be trying to sell you their coins or other services. This will ensure that the information you getting is real.

Attending Seminars

Some expert coin collectors have been known to hold coin collecting seminars. Many of these collectors and even some coin vendors hold their seminars about how to start a coin collection at coin trade shows and related events. These seminars and classes can be a great way for new collectors to get information and have their questions answered on the spot by coin experts.

Photo Credits: Mrs Logic

Originally posted 2011-06-06 03:02:01. Republished by Blog Post Promoter

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Money -> Silver -> American-Eagle

American Silver Eagles have been minted in the United States since 1986. These are the official silver bullion coins of the United States, guaranteed to contain one troy ounce of silver that’s 99.9% pure. A troy ounce is actually slightly heaver than a typical ounce of weight, because it’s not measured by weight but rather by grains. A grain is a unit of measure used where absolute precision is crucial, as in archery to weigh arrow heads, and in ballistics to weigh powder and bullets. An ounce is between 28 and 29 grains, and is a very specific number that goes out to 9 decimal places. A troy ounce is over 31 grains, in a number that goes out to 7 decimal places. A troy ounce is the measurement always used for black powder, precious metals and gemstones.

Silver Eagles have their one troy ounce weight and silver content certified by the United States Mint, and are authorized by the US Congress. A proof version of these coins is produced specifically for collectors. These coins have been produced by three mints. Coins marked with a P were minted in Philadelphia, with earlier coins bearing an S for San Francisco and the most recent silver coins marked with a W on the reverse side, which stands for West Point.

The front or obverse of Silver Eagles is based on the “Walking Liberty” design that appeared originally on half-dollars minted between 1916 and 1947. Designed the Adolph Weinman, it became a favorite and one of the best-loved coin designs in American history, so it was chosen for the Silver Eagles. The back or reverse of the coins feature a heraldic eagle.

The face value of Silver Eagles is $1, but the silver content causes the value of these coins to vary with the markets. Because of the different minting, it’s best to look into reference books to find the value of any coins you’re interested in purchasing. Because these coins have been struck in such huge numbers, the value is often not as high as one might expect, even for proofs. Most can be purchased for $25, with that number fluctuating along with the silver market prices. Some years with lower minting can go for over $100, and the boxed anniversary set issued in 2006 that went for $100 each now commands over three times that, because only 250,000 were created. Some rare dates can cost thousands of dollars, but without an up to date reference book it’s difficult to know which are more valuable.

When looking at Silver Eagles do your research and become familiar with the more rare coins, and those which can be found almost anywhere. As with most things, eBay is an excellent source for Silver Eagles of the more rare varieties. One good strategy for investors is to buy the current year’s Silver Eagles and work your way backwards through the years. This can make the collecting more fun and interesting, and give you time to investigate the more valuable minting and dates.

Originally posted 2008-12-14 14:00:32. Republished by Blog Post Promoter

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For many, the hardest part of a hobby is actually getting that hobby started. This couldn’t be more true than it is for those who are looking to start a coin collection. With thousands of different coins available to collect, it can be hard to understand where to start or know how to start.

There are a few different things that you can do to get a coin collection started. These tips are going to help you to start a strong collection that will be easy to grow and expand. Each of these four tips is important for a different reason – be sure to understand and consider each of these steps.

Set a Starting Budget

One of the biggest mistakes that someone starting a coin collection can make is blowing their entire budget on one coin when they start their collection. These individuals get excited about super rare coins or coins of high value and pick it up. They fail to realize that part of the fun of coin collecting is picking up multiple coins and continuing the search for a new coin. If you spend all of your money on your first coin, you will have nothing to look forward to until you have more money. This can kill your momentum and your drive for new coins.

Talk to a Coin Collector Shop Owner

It is important for you to gain knowledge of the world of coin collecting as you work to start your own collection. Talk to a coin collector shop owner about starting a coin collection. They will be able to teach you as much as possible about things like coin values and counterfeits, helping you to make smart decisions as you look to start your collection.

Plan Your Collection

While it may be tempting to simply jump into coin collecting, you need to have something resembling a plan of attack. Think about coin values and the type of coin collection that you want to have. This will help you to plan your collection out. You will be able to see what coins you are going to collect, helping you as you budget for future purchases.

Have Fun!

It is important to think about coin values, your budget, and the theme that your coin collection will follow. With that being said, it is also important to let loose and have fun with your collection. It can be easy to get wrapped up in the serious aspects of coin collecting, quickly taking the fun out of the coin collecting hobby. A random coin purchase here and an over-budget purchase there will help to keep the collection fun and interesting for you.

There are plenty of other tips and tricks that you will want to put into play as you work to start your coin collection. Research as much as possible about coin collecting to learn what else you should do to get your collection going in the right direction.

Photo Credits: Christian Frausto Bernal

Originally posted 2011-06-01 03:49:34. Republished by Blog Post Promoter

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Anyone living in an area with few coin shops understands how difficult it can be to find the different coins that they are interested in. These different coin shops simply do not have the rare coins that serious coin collectors are looking for, making it difficult for them to continue their coin collections. If you are serious about coin collecting but cannot further your collection through your local stores, you will want to consider online shopping.

Online shopping is a great tool for those who are looking to add some rare coins to their collection. With that being said, online shopping can be slightly dangerous for those who have never done it before. You need to work to understand what to look for to avoid getting ripped off or taken advantage of.

Check Credentials

The first thing that you should do when looking at an online store is to check credentials. If it is an online auction site, you will want to check their auction credentials. Others than that, look for any associations that the website may be attached to and research those associations. There will be online stores who do not have these connections that are still reliable – these connections will simply help you to better understand the safety of using a site.

Check Online Reviews

Online reviews will often be your window into the companies and websites you are looking into. Websites that are scamming their customers are going to be called out for it online. If you search online and notice that a website has a growing number of complaints, stay away from that company and website and find a different website.

Check Payment Options

If you are going to purchase coins online you are going to want to find a website with reliable methods of purchase. PayPal is going to be the type of payment that you will want to see, follow by credit card payments. You should never give banking number information to a website during a purchase.

Check Refund Policy

One of the ways for you to find a reliable online store is to check the refund policy and search online reviews to make sure that refund policy is upheld. You should be able to send a coin back if it is not what you thought you were getting or is not what the description led you to believe you would be getting. If you find a website that states that all sales are final, you may want to move on to another website.

Contrary to popular belief, it is possible for you to find the rare coins that you are looking for online. For everyone one bad online dealer there is a wealth of reputable dealers who are looking to connect you with the coins that you want. Take the time to look for these stores and practice these tips as you shop in these online stores. You will be able to find a reputable dealer and will be able to find exactly what you are looking for.

Photo Credits: Nick Forslund

Originally posted 2011-05-16 03:41:26. Republished by Blog Post Promoter

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If you are thinking about getting your child started on coin collecting, you are going to want to get them to stick to one specific niche or theme. This helps to give them direction as they work to start their coin collection and helps to give them specific benefits.

While some people think that a coin collection with nothing but US currency is a bad idea, others think that it is a great type of collection work toward. Looking at the pros and cons of collecting only US currency for a child’s coin collection will help you to understand whether or not this is right for your child.

Pros

• One of the major pros of focusing on US currency for coin collecting with children has to do with history. Coins are one of the many different parts of history, with different coins being minted during different periods in US history. Children will learn about different aspects of history as they research the coins that were minted before they were born.
• Current currency is also offering a glimpse into history, pulling for figures and facts about our history and adding them to the design. Recent state quarters and presidential dollar coins are giving kids insight into our history, providing a base for history discussions in the family. Focusing on US currency can be a great way to get in some extra education with your child.
• Focusing on US currency is also easier for many families, as this type of currency is more readily available. You can easily find both old and new coins at coin shops around the nation, making collecting easier for your child. Foreign currency may be hard to find, depending on where you are located.

Cons

• The only real con to collecting just US currency is the fact that you may be holding your child back from experiencing the culture of other currencies. It can be a great exercise in multiculturalism to collect coins from various countries – your kids will learn how other countries operate and will learn more about their history through collecting their coins. Interesting designs are also a good reason for ids to go beyond US currency, as other countries are more creative and intricate with many of their currency designs.

Sticking with US currency is going to give your child a small sense of national pride while helping to teach them about the history of their country. With that being said, it keeps them from learning about other countries and denies them the interesting types of currency found in different parts of the world. You simply need to think about your child’s collection and what they enjoy. Ask them about the types of currency they would like to collect after showing them examples of both. For many, this is the perfect way to help decide between sticking with a US theme or looking abroad for a coin collection.

Photo Credits: AntTree

Originally posted 2011-05-13 03:25:25. Republished by Blog Post Promoter

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If you are jumping into the world of coin collecting or are thinking about expanding beyond your coin collection, you are going to look to paper money collecting. Paper money collecting can be just as interesting and just as unique as coin collecting. With that being said, the world of paper money is completely different than coin money.

There are a couple of things that you want to consider if you are going to debate a paper money purchase. Taking the time to think about these various aspects of paper currency collection and the purchase that you are thinking of making will help you to make the right decision.

The Cost

The first thing that you are going to want to consider when debating a paper money purchase is the cost. You truly need to sit down and think about the purchase that you are about to make and how it will affect your budget. If you do not think you have the money to spend on this particular piece of money, do not do it.

You also want to think about cost in terms of value. You want to look into the actual value of the paper money that you are thinking about buying. You should never overpay for paper currency, as you will find that you lose money on the investment in the long run.

The Rarity

If you find yourself debating a paper money purchase you need to think about the rarity of the paper currency you are thinking about buying. If a piece is incredibly rare and is a piece you have been looking for, you may want to make the purchase right away. If it is a form of paper currency that you find all of the time, you can pass it up and know that you will eventually find it again when you are ready to make that purchase.

Your Collection

It is important for you to think about your entire collection when thinking about a paper money purchase. You need to think about whether or not it is a necessary purchase for our collection, and whether or not it is going to enhance your collection. If you think that the paper currency is not going to add any important value or interest to your collection, why make the purchase in the first place?

You need to take all of these different factors into consideration before you make your final decision about the paper money purchase. You may find that it will be the perfect addition to your collection, or may find that you should not spend the money on this particular piece of money at this time. Be sure to take the time to think about these various factors each and every time you consider one of these purchases. It will help to ensure that you do not spend too much money or make an unnecessary purchase for your collection.

Photo Credits: epSos.de

Originally posted 2011-01-31 03:25:15. Republished by Blog Post Promoter

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If there are people in your life who you think would enjoy beginning coin collecting, then there are some great resources that can help.

Many websites assist parents and friends of those who are interested in beginning coin collecting to learn the basics about coins and what’s available. Once a person, including a child, is educated about coins, they may begin a fascinating hobby that will interest them well into adulthood.

What about the great site about starting a coin collection for four dollars? It’s a simple and fun way to get a child (or an adult) interested in starting a coin collection and excited about what they might find.

Simply collecting pocket change for several months can be another fun method for sharing the love of coins. Without examining it, dump your change into a jar or bucket every day for some time.

When you’ve collected a substantial number of coins, bring the beginning coin collection novice in and have them examine each coin. If you’ve got enough knowledge to help them identify unusual coins, then you can help them divide the promising from the not so promising.

If you don’t trust your expertise, use the simple rule of finding the unusual and looking them up. Look for very old dates, different fronts or backs of common coins, and unusual words on coins.

A beginning coin collecting activity of searching online or studying a basic coin collecting book is a great way to learn about coins and spark some interest.

The website for the U.S. Mint is a great site for the beginner, or even the more advanced collector. It has a wealth of information, news, history, games and cartoons about coin collecting, and even a “collector’s club” for those who are beginning coin collecting or are simply interested in learning about coins.

The MegaPenny Project is a great look at how you can focus your collecting. It has what may be the most in-depth look at a single coin that you can find online. The analysis of size, weight and comparisons makes the subject come to life.

The Ancient Coins for Education project offers teachers and others interested in educating children complete lesson plans centered on an “archeological simulation” where ancient coins become a learning tool once they are discovered by an educator.

Children will not only learn about coins, but will learn about archaeology and ancient life as well.

Another approach to beginning coin collecting is to choose a particular coin and do some in depth research with a child or new collector. The Morgan dollar, for example, is a fascinating coin with an interesting appearance and an unusual history.

There are two different types of Morgan dollars since the coins were struck in two different ways. The finishes are so strikingly different, it’s a pleasure for those beginning coin collecting to work with them.

There are other fun coins to introduce to a beginner, like the new Lincoln Rail Splitter penny. You might also begin with a study into the “heads” and “tails” of coins and how to tell the difference when the front has no portrait.

Photo Credits: hazm8

Originally posted 2009-06-05 05:51:10. Republished by Blog Post Promoter

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Negotiation is one of the most important aspects of coin collecting, an aspect that few think about when jumping into the world of coin collection. Negotiation helps to ensure that you get the coin for the price that you want, even if the price has already dropped below the actual value of the coin.

There are some mistakes that even the most serious coin collectors can make when dealing with coin dealers. Knowing these mistakes can help you to avoid these mistakes. These are just a few of the many coin collecting negotiation mistakes that you should work to avoid when negotiating for your own coins.

Starting Too High

One of the many mistakes that some coin collectors make is starting their offer too high. If you make a bid on a coin that is too close to the original price, you are showing that you are practically willing to pay full price for the piece. While some are going to take your offer or work you up to a number closer to their initial price, others will simply say, “full price or no deal”. Starting too high simply shows that you are not too concerned about the price, and that you really want the coin. If a collector can tell that someone really wants a coin for their collection, they are less likely to budge on the price.

Starting Too Low

There is such a thing as an insulting offer – this is a mistake that far too many coin collecting individuals make. Coin dealers can be offended by offers that are far too low for the condition and value of the coin. They will simply refuse your offer, and will refuse any more negotiating. At that point, if you are unwilling to pay full price, you will not be sold the coin. Starting too low can completely ruin your chances of getting the price lowered.

Paying too Much

Some coins are simply not worth what they are being sold for. Some coin dealers and coin collectors will try to milk the coin for all that it is worth and push an unrealistic price. While some are willing to lower their prices to something resembling the value of the coin, others will stay too high. You need to know when to walk away from negotiations and leave the coin behind. Be sure to tell the individual why you are walking away – if you tell them the price is higher than the value and are knowledgeable about the coin, they may rethink their decision and lower their price.

There are some situations that are more suited for serious negotiations than others. Some of these negotiations will go smoothly, while others will result in you losing the coin that you are interested in. It is important for you to scope out each situation and think about the proper ways to approach negotiation. Understanding the mistakes that you could make will help you to avoid them, which can lead to successful and beneficial negotiations.

Photo Credits: shop boy

Originally posted 2011-01-12 03:53:17. Republished by Blog Post Promoter

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Coin collecting is something which has been practiced in America for over 200 years now. It is something which has been enjoyed by people of every age and for many different reasons. When creating or expending a collection, it is normal to seek out the best rare coins you can find. These coins will allow you to have a great collection which will include coins of all different kinds of values. It is important to remember that there are many different places you can find collections at. If you search around, you will be able to find the best coins at the best prices.

Often you will have to sacrifice price a little bit to get the rare coins you really want for your collection. This is the case when you go to a coin shop to get what you want. You can also find many great coins at the coin auctions. One of the favorite places to acquire coins from are the other people out there with their own collections. No matter where you get your coins from, make sure that you are getting the coins that you want at the price you can afford.

Coin Shops

Coin shops are perhaps the most expensive option which is available for buying rare coins. The biggest advantage you get when you buy from a coin shop is that there are constantly coins being bought and sold by the shop. If you get in good with the shop owner, you will be able to get notification when a coin you are looking for makes its way into the shop. This way you will be able to pick up the coins that you want without having to search all over town to find them. Instead, they will find you.

Coin Auctions

Another great place where you can find great rare coins is at the auction. These have literally hundreds of different coins which you can purchase. Best of all, you will be able to see the coins first hand and you will get to examine them before you make a bid to purchase them. With any luck, you will be able to get the exact coins you are looking for at a fraction of the price that you would normally be able to buy it for. At the very least you will be able to cap your bid at the market price.

Private Dealers

The most common way for people to purchase the rare coins that they want to purchase is through private collections. These are people just like you. Even if they have collections which are much more expensive than yours, they still purchase each coin as an individual and stock their collection based on what they feel that they need. You have a pretty good chance of getting the coins that you want at a price which is fair. The only thing to watch out for are people trying to make a huge profit where it is unwarranted.

Photo Credits: Ben Sutherland

Originally posted 2010-09-02 09:03:41. Republished by Blog Post Promoter

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