February 12th, 2012 — Bullion, Coin Collecting, Silver Bullion Coins, US Coins
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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February 4th, 2012 — Buying and Selling Coins, Coin Collecting
Coin collecting is an interesting and unique form of collection in the sense that people spend money to acquire pieces of money that are rare and no longer created. The cost of coin collecting is obvious in the sense of actually having to take the time to purchase different coins. Beyond that, hidden costs can change how you feel about coin collecting.
You need to focus in on exactly how much this form of collecting is going to cost you before you actually choose to start collecting coins. Taking all expenses into consideration will help you to jump into your collection in a strong and confident way.
Cleaning
Cleaning accessories are accessories that you are going to need to factor into your budget as you think about the cost of coin collecting. Every coin collector is different and is going to want to use different cleaning methods to keep their coin collection looking as good as new. You need to think about all of the different cleaning options that you have, and what options work best for you. Then, take a trip to your local store to find out how much all of those different accessories cost. Some will be surprised at how cheap it is, while others will not have expected any of that initial cost in the first place.
Accessories
You need to think about all of the different collection accessories that you are going to need to use while collecting coins. You are going to need cases for individual coins and for individual paper money pieces. You are also going to need larger cases that hold all of the different coins that you have. Finally, you are probably going to need to factor in some form of record-keeping system. While you may keep it on your computer, you will want some form of hard copy in a protected binder. This helps you to keep track of what you have and help others to understand what you have should you need to pass your collection down to a family member.
Purchases
The major cost that comes from coin collecting does come in the form of the actual purchase of the coins and paper money pieces. Future coin collectors should understand that some pieces are going to be more expensive than others, and that some pieces can cost hundreds or thousands of dollars. Take the time to look into the costs of different coins at local coin collector shops to see exactly how much you may spend for the coins you want.
You need to take into account the amount of money that you will spend on the various currencies that you want, and must take into account the cost of collection accessories. If you can factor in all of these different costs and still afford to run your collection, you will be able to enjoy your collection to the fullest.
Photo Credits: Cycrolu
Originally posted 2011-01-24 03:21:45. Republished by Blog Post Promoter
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January 30th, 2012 — Coin Collecting, Half Dime, Rare Coins, US Coins
You might think a half dime is simply a modern nickel. But half dimes were actually silver coins worth 5 cents that were minted before the coins that eventually became our modern nickels. They were authorized in 1792, much smaller than the dimes of the time and much thinner, giving them the actual appearance of being almost half a dime. When lobbyists fought to have nickel included in the creation of new coins in the 1860s, the new three- and five-cent coins pushed out the older silver coins so the original half dimes were last minted in 1873.
The US half dime was minted from 1794 to 1873, and was one of the original coins minted in the United States. The first design is known as the Flowing Hair design because of the Liberty’s flowing hair, but was only struck for 2 years before being changed to the Draped Bust, Small Eagle design. This design also lasted for only 2 years, before half dime minting stopped and wasn’t resumed against until 1800. This design was known as the Large Eagle design, with the Great Seal of the United States appearing on the reverse of the coin. These were struck until 1805, and then no more were minted until 1829.
The half dime that returned in 1829 now bore the words “five cents” instead of half dime. The design appearing on this coin lasted until 1837, when a Seated Liberty design once again bearing the words half dime was minted. New minting in 1837 saw the silver content lessen, though the coins remained the same size. In 1840 the design was changed to include drapery and stars, and wasn’t changed again significantly after that. After the Civil War in 1866, nickel-based 5-cent coins were circulated at the same time as silver half dimes but 1873 saw the last half dimes minted to make way for the 5-cent coins.
Of all the half dimes available today, the 1802 Draped Bust, Heraldic Eagle is one of the most rare and collectible. Only a little over 13,000 of them were struck, but only about 16 are known to exist today. The half dime is still an interesting conversation piece, aside from its collector and real-world value.
Because the silver content of the half dime dropped long before minting stopped, people tended to try to acquire the earlier half dimes so more of the newer coins were struck to replace them. The most valuable coins are the earlier ones with higher silver content, though some were actually minted without the name of the country because of a die problem, and these are valuable novelties for coin collectors.
The half dime is a fairly rare coin so the best places to find one in good condition are places like eBay where a huge variety of sellers can present their items. The best way to find the value of a coin is to consult a coin guide, and compare that to the most recent information you can find online.
Originally posted 2008-12-07 14:00:27. Republished by Blog Post Promoter
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January 26th, 2012 — Buying and Selling Coins, Coin Collecting
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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January 19th, 2012 — Coin Collecting, John Quincy Adams Dollar Rolls, John Quincy Dollar Rolls, US Coins, world coins
Whether you’re new to coin collecting or you’ve been fascinated by coins for years, now is the time to invest in a John Quincy Adams dollar roll. If you have a free book offered by the US Mint to house your Presidential Dollars collection, you’ll want at least one loose John Quincy Adams dollar, but the roll is more of an investment in the coins. If you purchase a roll of each Presidential dollar released from the beginning of the program through the end in 2016 (though more presidents will be added, extending the program) you’ll have an amazing variety of dollar rolls that will look impressive in any sized collection.
The John Quincy Adams dollar roll is the latest offering in the Presidential Dollars program. Much like the 10-year 50 States Quarters Program that proved a favorite among collectors, and especially children who enjoyed collecting these coins, dollars featuring United States Presidents are released over a span of time. The 50 States Quarters were released in the order the states became part of the union; the Presidential Dollars are released in the order in which they served the country as Commander in Chief.
Coins in a John Quincy Adam dollar roll, and in all of the Presidential Dollars, are the same composition as a Sacagawea Golden Dollar. But each coin features the name and likeness of the President on the front, along with the years of his term of office, and which President he was—1st, 2nd, etc. Presidential Dollars are unique from any other US coin in the way much of the information typically found on a coin is printed on their edges instead of the face or reverse. “E Pluribus Unum,” “In God We Trust,” the mint mark and the year of the coin are now on the edge of these coins.
Also setting coins in a John Quincy Adams dollar roll and other Presidential Dollars apart from every other coin minted in the United States, the world Liberty does not appear on the reverse of the coin. An image of the Statue of Liberty stands for liberty, instead. The coins have been issued at a rate of 4 per year since 2007.
The John Quincy Adams dollar roll became available this year, in May of 2008, and is the 6th release of these dramatic and beautiful coins. George Washington, John Adams, Thomas Jefferson and James Madison Presidential Dollars were released in 2007, and James Monroe was the first release of 2008, followed by John Quincy Adams. Andrew Jackson and Martin Van Buren Dollars have also been released since then this year, with the four scheduled to be released in 2009 being the next 4 Presidents in order, Harrison, Tyler, Poke and finally Taylor. These coins are great to teach kids about our Presidents.
Your local bank should be able to supply you with a John Quincy Adams dollar roll, but auctions like eBay are great for quickly grabbing rolls of past releases. Keep the roll intact to retain all of its collector value.
Originally posted 2008-12-12 14:00:25. Republished by Blog Post Promoter
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January 18th, 2012 — Coin Collecting
There have been many changes in the world of coin collecting over the years. These changes have mostly been in regards to which coins are prized above others. Every once in a while a toll will come along which will help those in the industry to enjoy collecting more or to get more out of their collections. Coin collector software is one of the most recent developments in the world of numismatics. For those thinking about whether to buy the software or not, it is a good idea to look at the ways in which the software has changed the way many collectors operate.
For starters the coin collector software has opened up coin collecting to a lot more people. It has also streamlined the buying and selling of coins so that you can get more coins in your collection and get more out of the ones you already have. Another way that it has changed the market is it has caused many of the old numismatic books to become obsolete. While many are resolute in not making a switch to the new software, there are more people excited about the changes the software brings with it.
More Amateur Collecting
One of the things which has held many amateurs back form more serious collecting is the fact that it is intimidating to purchase coins when you do not know much about them. Thanks to the coin collector software even an amateur collector has the ability to know what coins they are buying and what to look for in terms of grading and more. They are also able to distinguish one coin from another thanks to the recognition capabilities of the software.
Streamlined Collecting
Maintaining a collection has always taken a lot of time and effort. With the new coin collector software, it is possible to keep track of everything that you have along with the values of all of your different coins. This allows people to instantly see everything that they have and allow others to see it as well. This leads to more people buying and selling coins from people they would not have normally met in real life. This is a perfect opportunity to be able to fill in the gaps in your collection or to get rid of coins that you no longer need in your collection.
Making Some Books Obsolete
Up until recently, books have been the ultimate in discovering what the value of your collection is and what kinds of coins you have on hand. While there is still a lot of information which can be gleaned from the books, there are a few which have been made obsolete by the coin collector software. What many numismatists have taken to doing is to hold onto the books for references and to bring along with them when they to go shows or auctions so that they can get the information that they need on the go.
Photo Credits: zeevveez
Originally posted 2010-09-01 03:43:16. Republished by Blog Post Promoter
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January 16th, 2012 — Coin Collecting
Finding the value of your coins is something which most people who have a coin collection are very concerned with. This is true whether you are buying a set of coins or you have had your collection for a long period of time. There have been books over the years which have listed the values of the coins at the time the book was printed. These were helpful and still are, but they are limited in scope. This is because values fluctuate and it is hard to get an actual value based on the price that you will find in a book. Even more helpful is the coin collecting software which is being used today.
In order to be able to get the most out of your coin collecting software, you will need to understand how to use it. While the different kinds of software which are available, they all have the same basic structure in order to help you with your coin collection. Making sure that you are able to use the software will allow you to get the most out it. You will need to understand such things as distinguishing the coins you have, finding their value and listing the coins that you have.
Distinguishing the Coins You Have
There are a lot of different coins out there. It can be difficult at times to keep them all straight. The coin collecting software will allow you to easily enter in the distinguishing characteristics of your coins so that you will be able to understand exactly what kind of coin you have. This is very important information whether you are looking to purchase a coin or you are simply trying to figure out exactly what it is that you have already in your collection.
Finding the Value of Your Coins
A huge advantage that you will have with the coin collecting software over the coin collecting books is that you will be able to find out what the current market value of the coins are. This is because you will be able to get help with the grade of your coin and you will also get up to date information about what the coin is currently valued at in the coin collector’s market. This is good information to have whether you are looking to sell or simply looking to have bragging rights about your collection.
Listing Your Coins
You can also use the coin collecting software so that you will be able to have a running list of all of the coins that you have on hand. This will allow you to see not only those which you have in your collection. You will also be able to get a realistic look at which coins you might need. This list also makes it much easier should you ever want to sell your coins. You will be able to show buyers what you have on hand and what their values are. This will help to reduce haggling.
Photo Credits: bluemoose
Originally posted 2010-08-26 03:16:18. Republished by Blog Post Promoter
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January 15th, 2012 — Coin Collecting, Foreign Coin Collecting, Foreign Currency
If you are a serious coin collector you will probably start to look into foreign currency for your coin collecting ventures. There are plenty of coins to be had, both new and old, when looking into foreign currency. Paper currency also plays a large an important role in foreign monies, making for plenty of opportunities and possibilities with your collection.
There are a couple of different things that you are going to want to look for when looking at foreign currency for your own collection. Taking the time to think about coin collecting and this currency will help you to better understand how to collect it and how to obtain it.
Counterfeits
It is important for you to stay well versed in foreign currency counterfeits as you work to add foreign coins and foreign paper money into your collection. It is easy for collectors to fall to counterfeits because they are not familiar with the money. This is not the currency you are used to, making it hard for you to easily identify any potential counterfeits. There are plenty of research sites that will make it easy for you to correctly identify true and authentic foreign currency pieces of interest.
Personal Interest and Intrigue
You need to feel something resembling a connection with the foreign currency that you are trying to collect. You don’t want to get into coin collecting just for the sake of having multiple coins – you want to feel a connection to all of the different pieces that you own. If you are not interested in or intrigued by a piece, do not add it to your collection.
Rarity
There are some pieces of foreign currency that will catch your attention that are currently produced, and others that are rare. Look for rarity as you collect but do not rely on it. Simply understand how rare the price is to have a better understanding of exactly how much the piece will cost.
Cost
Finally, you are going to want to look into the cost of the foreign currency that you are looking into. You want to know exactly how much it is worth and how much you are willing to pay for it. You want to make sure that you are making a smart decision and that you are not paying too much for the coins you are interested in.
It is important for you to look into each one of these different aspects of money collecting when looking into foreign currency. You may decide to stick with coin collecting or may branch out into paper money collecting. You may decide to stick with one particular foreign country, or to open up your collection to the world. There is truly no wrong way to start to approach collecting a foreign currency. You simply need to look for these various things and give serious thought to your collecting before you begin.
Photo Credits: CanadianAEh
Originally posted 2011-05-09 03:14:48. Republished by Blog Post Promoter
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January 13th, 2012 — Coin Collecting
Coin collecting is an incredibly large form of collecting, with millions of individuals around the world collecting in both novice and professional ways. There are plenty of people who want to get into coin collecting, but few who know how to actually take this type of collection seriously. Anyone who wants to be a coin collector simply needs to think about their collection and how to go about their actual collecting. This crash course in coin collecting will make it easier for anyone to jump right into the world of serious coin collecting.
Know Your Money
The first thing that you need to think about is the money itself. You need to work to understand the history of money and the money that you are seeking out. You need to be able to spot different mints and need to be able to spot some of the counterfeits out on the market. If you purchase a counterfeit, the problem is generally yours – you may not know that it is counterfeit until you try to sell it. The more you know about the money you collect, the more successful your collection will be.
Keep it Safe
You need to make sure that you are actively working to keep your collection safe and cared for. Do not attempt to wash paper bills and do not use harsh substances on coins. You want to keep them in a cool and dry place, keeping them secure to avoid any potential damage.
Know How to Bargain
If you are going to jump into the game of coin collecting you are going to need to learn how to bargain. The less that you pay for the money that you want, the more that you will be able to add to your collection over time. Take the time to practice bargaining skills and know that there is a point where you should walk away from the bargaining table and either take or leave the money.
Pay Attention to Values
It is important for you to constantly track the values of the pieces that you want to add to your collection and the pieces that are already in your collection. You are going to want to know the value of coins you are looking for as you need to make sure that you do not overpay for the coins you are interested in.
Coin collecting is not something that is hard, even for those who are professionals in the field. Coin collecting is a fun and simple form of collecting that provides a world of diversity and intrigue. Anyone looking to be a coin collector simply needs to work to better understand what their options are and what they need to know to be a serious collector. This information will help anyone to get a jump start in the world of professional money collecting.
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Originally posted 2010-12-24 03:54:56. Republished by Blog Post Promoter
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January 11th, 2012 — Buying and Selling Coins, Coin Collecting, Rare Coins
Rare coins are often them sot exciting coin purchases for those who are serious about coin collecting. Each coin collector waits for the day that they are able to pick up the rare coin that they have been interested in for years.
It is important for all coin collectors to understand how to approach these specific purchasing situations. You need to work to understand how to purchase a rare coin to ensure that yo get the exact coin that you are looking for, and that you are not paying too much for that coin.
Research the Coin
The first thing that you need to do when trying to purchase a rare coin is to learn as much about it as possible. Take the time to learn about the history of the coin and the popularity of the coin. Try to figure out the full value of the coin and the type of condition that u can expect to find the coin in. The more time that you spend on trying to understand the coin, the better the purchase you can make and the more you will enjoy that purchase.
Research Counterfeits
There are plenty of counterfeit coins on the market, with different individuals trying to cash in on collectors who are not knowledgeable. Take the time to research counterfeits that have been found for the exact coin that u are interested in. This will come in handy for you as you work to find the coin – you may find shop owners trying to sell counterfeit coins at first price. Without this knowledge, you will spend a large sum of money on a piece that is worth absolutely nothing at all.
Research Sales
It is important for you to understand the estimated value of the rare coins that you are interested in purchasing. Wit that being said, you should also work to understand exactly how much the coin has been selling for. While you may know the full value, you may only have to pay the expected value that is found at auction houses and coin collector shops. Talk to auction houses and coin collectors in other areas and ask them how much the coin that you are interested in as gone for. You may be surprised to find how cheaply you can find the rare coins that you want.
It can be easy to get too excited when you are about to purchase a rare coin. The thought of finally getting the coin that you have been pining for is overwhelming, making it easy to make the wrong decision. This is why you need to approach a rare coin purchase well before you actually pick up the coin. The more thought that you put into the coin, the more sure you can be that you have made the right choice. You will know that you have the exact coin that you want and now that you will have paid the right amount of money for it.
Photo Credits: Mahdi Ayat.
Originally posted 2011-04-29 09:36:46. Republished by Blog Post Promoter
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