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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Old paper money is something unique and interesting to collect, featuring tons of variation and tons of history that can be incredibly intriguing and exciting. There are some who collect paper currency who stay away from old paper money, any coin collectors who stay away from paper money as a whole. They think that old paper money is too expensive and too difficult to find.

There are plenty of places for you to find old paper money, and plenty of places to find that money at reasonable prices. These different tips will help you to find the old paper money that you have been looking for.

Talk to Coin Dealers

The first group of people that you will want to talk to as you work to find old paper money is coin dealers. You want to talk to them because of the various connections that they have in the world of collecting money. They will be able to talk to you about exactly who you need to talk to when looking for old paper money. They may even give you some personal recommendations, getting you in with some of the more powerful collectors and dealers in your area.

Go to Shows and Conventions

Money collecting shows and conventions are going to be perfect places for you to look to as you work to find old paper money. Plenty of paper currency dealers and collectors frequent these shows, giving you a wide variety of people to talk to and a wide variety of old paper money to choose from. You can generally work prices down lower when at a convention, as the traffic booths see allows dealers to go lower than they would usually go.

Use the Internet

You can easily use the Internet to find the different money collectors and money dealers in your area. You will be able to email these individuals and businesses directly to understand what type of old paper money they have available, saving yourself from having to visit each coin collecting business.

Buy On the Internet

You can now find old paper money available through online auction websites and the such. You simply need to work to find reputable sources that are not going to try to rip you off. Online reviews will help you to better understand which online websites and auction dealers are reliable. This should be your last ditch effort to find paper money, however, as you never know what the state of the paper currency is until you actually pay for and receive the old paper money.

There are places for you to find old paper money and there are ways for you to find that paper money for less. You simply need to know where you need to look to find the great deals on this interesting and historic money. Take the time to seek out these locations through these tips. You may be able to add incredible pieces to your collection, rounding out your already interesting and unique paper currency collection.

Photo Credits: Nate Hofer

Originally posted 2011-02-09 03:42:31. Republished by Blog Post Promoter

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Coin dealers, just like any other type of dealer or business, requires stock that they can sell to the public. Rather than obtaining or acquiring their stock from a factory or manufacturer however, they obtain their coins from the public instead. Classic types of rare coins have to be acquired from more advanced collectors or from auctions but lesser rare coins can still show up just about anywhere including in your normal pocket change. Below are some coins that are often ignored by your average person despite being capable of bringing in real money, should a hobbyist notice it and offer it for sale to people interested in rare coin collecting.

If it weren’t for the diligence of some rapid coin collectors interested in rare coin collecting, many of the coins in the following list would go completely unnoticed. These coins are often found by way of careful scrutiny.

• The 2004 Wisconsin State Quarter, on coins featuring an extra leaf.

On some of the Wisconsin quarters minted in 2004, there is an extra leaf either below the corn husk or at the very base of the husk. The value of these coins ranges from $50 to $100 dollars.

• The 2000-P Sacagawea Dollar from Cheerios

These coins were placed randomly in a number of Cheerios cereal boxes after being packed in protective plastic sheets. These coins exhibit more detail than the later production coins. The value of these coins is as yet undetermined.

• The 5c Doubled Monticello from 1939

This is a 1939 Jefferson nickel, and while this coin is relatively easy to find, locating the doubled die reverse is not going to be as easy. The value for these coins is between $30 dollars and $500 dollars depending on the quality of the coin.

• D/horizontal D 5 cent piece from 1942

This Jefferson coin is not the same Wartime silver alloy, but rather it is the previous variety which is a copper and nickel alloy. More than 14 million coins were minted, which was a fairly large mint for the time period. The coins struck from the die with the error are relatively elusive, but still possible to be found. The value for these coins is between $30 dollars and $500 dollars depending on the quality of the coin.

• The 1955 Double-Die Cent

This is perhaps the kind of the doubled dies, as it has spectacular doubling. They were originally discovered in coin rolls. Nearly the entire output from the improperly struck die managed to reach to circulation, so you will really never known when one of these true beauties is going to show up. The value for these coins is between $500 dollars and $1,500 dollars depending on the quality of the coin.

Photo Credits: Abhijit Tembhekar

Originally posted 2009-10-10 03:18:17. Republished by Blog Post Promoter

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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

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The world of coin collection is interesting and full of connections, with each coin collector working with other coin dealers to get the piece that they want. Those who are interested in serious coin collecting need to be well versed in the art of the sale, understanding what they should pay and how to get that price.

If you are working with a coin collector you need to make sure that you know how to approach the interaction. These pieces of information will help anyone who wants to collect to get the fair price for the coin that they want.

Scope Out the Shop, Collector, and Piece

The first thing that you are going to want to do is completely assess the situation. You need to check out the shop, the coin dealers in the shop, and the actual coins themselves. You need to understand how the store operates, and how willing the owners are to negotiate prices. You also need to understand if the prices are fair, or if they are high. This information will help you to correctly approach the transaction.

Do Your Research

Before you actually work to collect coins you need to do research on them. Every coin collector will work to understand the exact coin they are looking for. They will know what reasonable prices are and they will know how to spot the counterfeits of that particular piece of currency.

Be Friendly

There are plenty of people who go into negotiation situations somewhat nervous and uptight. You simply need to relax, be calm, and be personable as you talk to the coin collector. Let them know that you are serious about collecting by showcasing your knowledge of the piece that you are looking for. You can then start to talk about reasonable pricing and work on moving the price down to something that you are comfortable paying.

Know the Value

This is the key element for those who collect coins and are working with coin dealers – you need to understand the value of the coin. You need to know how much money would indicate a good price for the piece, how much would be considered a steal, and how much would be considered too much. All of your negotiation tactics and techniques should revolve around the actual value of the coin that you are interested in. If you find that the price for a coin is reasonable, you should not expect it to drop by much. If you know that a piece is overpriced, you should know your boundaries and know how much is too much to pay for the piece.

Every serious coin collector has started off a little shaky and a little under experienced. The best coin dealers simply work on their bargaining skills and take the time to be prepared for each and every situation. If you want to collect coins and want to get the coins that you covet for your collection you must take these and other tips to heart.

Photo Credits: kevindooley

Originally posted 2010-12-22 03:49:50. Republished by Blog Post Promoter

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One of the reasons as to why some people are so attracted to coin collecting is because it can be a challenge. There are some coins which can be hard to find that cannot only make a great investment into ones collection, but they can provide one with a sense of accomplishment when they are acquired. The problem is that many people do not know how to go about looking for a specific coin for sale. When people do not know how to go about looking for a coin they can often be duped into making an unwise investment into a coin.

Below are some of the things any coin collector needs to know before they begin their pursuit of any coin for sale. The rules which one needs to follow should always be applied when one is looking to make any type of purchase of a piece of currency to add to their collection. These rules can help those who are looking to buy a coin from a private collector, a coin shop, coin vendor, or a coin distributor on the internet. Following these rules can help one to protect their investment into their personal coin collection.

Grading

Before a collector purchases a specific coin for sale they need to be well educated in the coin grading system. The Sheldon system is the most widely used coin grading system in the United States by coin collectors. Any coin that a collector is looking to invest in should be graded on this system by one of three top and most recognized coin graders. Only buying high grade coins that have been properly graded is one of the ways a collector can protect themselves from being taken advantage of by less reputable coin sellers.

Reputable Sources

When buying coins a collector needs to take the time to find reputable coin dealers. This means taking the time to look at reviews of a coin dealer and doing some research on them. This needs to be done by any collector before they buy a specific coin for sale because there are many coin dealers who are out to take advantage of less educated coin collectors. In order to make sure you do not give your money over for a bad quality or fake coin, do your research and protect yourself.

Asking Questions

Do not be afraid to ask questions before you buy a specific coin for sale. This will ensure that you are protecting the investment you are making into your collection. If you need, you may want to call one of the reputable coin dealers in your area before making an internet purchase or a coin purchase from an unknown source. You should also be cautious if the source you are looking to buy a coin from cannot answer some of the basic questions associated with the coin. This could be a sign that buying from them could be a bad investment for you.

Photo Credits: K. Todd Storch

Originally posted 2011-08-22 08:01:25. Republished by Blog Post Promoter

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Anyone who has collected foreign currency knows how popular the different pieces of currency can be. Some people are going to need to sell their collections at some point, and are banking on the popularity of these coins and paper money to carry the sale. While this may make it easier to sell the collection, it will not put you in the best position to do so.

There are a couple of tips that you need to put into use if you are going to try to put a foreign currency collection up for sale. The work that you put into the sale will help you to get the highest price available for the money in your collection, and to do so as quickly as possible.

Organize the Collection

The first thing that you must do when putting a collection up for sale is organize the collection. You need to make sure that you document each and every coin that is in the collection and each and every piece of paper money in the collection. Individuals who are interested in your foreign currency collection should be able to see exactly what is in the collection on a single spreadsheet. If you fail to organize your collection, coin dealers and buyers will walk.

Clean the Collection

You need to make sure that your collection is presented in the best way possible. You need to clean each and every coin that is in your foreign currency collection, but do so in a way that will not hurt the coin. Different coins may require different cleaning methods – speak with coin dealers to better understand how to safely and carefully clean your collection.

Make Friends with Coin Dealers

If you are trying to sell a collection, it is important for you to be friends with different coin dealers in the area. They may be willing to buy your collection, or may be willing to connect you to people looking for specific foreign currency pieces. The more dealers you know, the more people into coin collecting you will know.

Use the Internet

The Internet is an incredibly powerful tool for anyone who is looking to put up an entire foreign currency collection for sale. You can rely on online auction websites to sell the collection as a lot or to sell each piece individually. If you think that you can get more through an auction than through a dealer, you may skip trying to sell to coin dealers in person altogether.

There are plenty of different things that you can do as a collection owner when trying to sell of part or all of your collection. These different tips will make it easier for you to get the sale that you are looking for. They will help you to present your collection as professionally as possible and to garner as much interest as possible – two crucial characteristics for getting the best sale possible.

Photo Credits: bradipo

Originally posted 2011-04-15 03:51:31. Republished by Blog Post Promoter

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If you are going to start collecting any type of currency, both old and new, you are going to have to work with coin dealers. Coin dealers are going to be able to provide you with the coins and paper money that you need to beef up your collection.

Not all coin dealers are created equal, as some approach their profession differently than others. You need to work to understand all of the different types of coin dealers so that you can understand how to work with them. The more you understand them, the easier it will be for you to get what you want.

The Retired Hobbyist

The retired hobbyist is going to be one of the easiest coin dealers to work with. This person is into the coin dealing business because of their intense love of the coins. They want to talk to you about the different coins in your collection and the different coins that you are interested in. They are going to want to talk to you what coins you want and love the thrill of the chase as they look for the coins for you. These are the individuals that you are going to want to make friends with, as they are important connections in the world of coin collecting.

The Money Maker

The money maker is someone who is running the coin store as a part time hobby and full time job. While they have an intense love of coins and coin collecting, they need to make a living. These people are not necessarily hard to work with – they are simply not going to be as easy to work prices out with. They are more likely to stay firm on their prices as opposed to negotiating down. They will still help you look for the coins you are interested in, however, making them valuable dealers to have relationships with.

The Chain Owner

There are some people who own multiple coin dealing stores and can only be known as chain owners. The rules that they have will be more strict and they are unlikely to budge on prices. It is harder to foster relationships with these people simply because of the number of stores that they have. While you may find the coins that you want here, you are not going to find the information and relationships you want through these stores.

Take the time to talk to all of the different coin dealers in your area and understand their approach to dealing coins and coin collecting in general. You will not be able to get a feel for their approach to their job and their store until you get to know who they are. You will understand how likely they are to look out for coins that you are interested in, or how likely you are to be able to work down prices. Your knowledge will help you to understand which dealers to work with and which ones to avoid.

Photo Credits: oceandesetoiles

Originally posted 2011-04-11 03:21:15. Republished by Blog Post Promoter

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There are a couple of different ways that you can approach coin collecting. Most people are going to look to the Internet or look to local coin collecting shops as they work to expand their coin collection. What many fail to realize is that coin collecting at coin shows is one of the best moves that you can make for your coin collecting hobby.

There are multiple things to learn and understand about coin collecting at coin shows. The more that you understand about using this platform for collecting, the better you will be at expanding your collection through coin shows.

Moving Fast

If you are heading to a coin show you need to be prepared to move as fast as you can. There are going to be hundreds of different coin collectors browsing and a plethora of coin dealers trying to sell their coins. You are going to want to see as many of these different collectors as possible, and will need to move fast to do so.

You must also be prepared to move fast in the sense that these different coins will be moving fast. If you move to slow, the coins that you want to add to your coin collection will be gone. The faster you move, the more likely you are to walk away from the coin show happy.

Strong Negotiations

You must be prepared to have strong negotiations as you attend coin shows. There are a lot of different coin collector shops represented, meaning that there is a lot of competition. At the same time, you have a lot of competition through other people at the show. You must stay strong in negotiations but understand that they will not be a cake walk – collector shops are prepared to turn down lower offers in hopes that someone comes along ten minutes later to pay full price for the coin that you want.

Be Prepared to Lose Out

Do not become discouraged if you fail in negotiations and fail to get the coin that you are interested in. There are thousands of coins for you to choose from – you will eventually find a negotiation tactic that works for the coin that you want. If you lose out on a coin, simply thank the collector and move on to the next booth. You never know what you’ll find the next place that you look at the coin show.

Coin collection coin shows are bringing together the most serious coin collecting hobbyists. These individuals know what they are looking for and know how to sell their coins. This is why you must head to these shows prepared. You need to understand what benefits come from collecting at coin shows and what you need to do to get the most out of these shows. Take the time to do some research and take the time to observe at the coin show. When you see how these individuals act, you will be able to put these tips into play and truly work the coin collecting show floor.

Photo Credits: cfarivar

Originally posted 2011-03-04 08:41:10. Republished by Blog Post Promoter

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There comes a time in the life of every coin collector where they need to sell their rare coins that they have in their coin collection. Some are simply uninterested in their collection and are looking to recoup the money they spent on the pieces. Others are in love with their collection, but must sell off some of their coins for financial reasons. Either way, there are certain steps to take to sell your coins.

These various steps are going to help you to sell the rare coins in your coin collection correctly. You will be sure to get maximum interest in the coins, which will help to provide you with the maximum offers you are interested in.

Prepare Your Coins

If you are trying to sell your rare coins, you need to make sure that they are in pristine shape. You must prepare your coins just as you would prepare a house or car for sale. Clean the coin to make sure it is in pristine condition. Clean the case and make sure the elegance of the case matches the elegance of the coin. Half of trying to sell rare coins is in the presentation of the coin.

Prepare Information

It is important for you to have information on the coin prepared. You want to be able to educate the buyer on the rarity and interest of the coin, but also want to prepare yourself for the sale. Prepare sale information to get a good idea as to the value of the coin. You can turn to this information if a buyer tries to work down your prices, showing them the true value of the coin.

Market to Dealers

Coin collectors and coin dealers are constantly looking for rare coins to add to their collections and stores. If you are in a pinch, market your coin to dealers in the area. They are not going to pay full price for the coin, but will provide you with a quick way to make the money off of the coin.

Use the Internet

The Internet can be your greatest ally as you work to sell your rare coins. Use online auction websites to get the highest price available for your coin. Be sure to set a minimum price range for your coin to ensure that you do not sell the coin for too small of a price.

You need to make sure that you are doing work when trying to sell your coins. Those who simply list a coin for sale without preparation or follow up will fail to see the numbers that they are interested in for the coin. Take the time to prepare your rare coins, do your research, and work through the sale. You will be sure to sell your rare coins quickly, and yet will be sure to see the high sales prices you want or need.

Photo Credits: George Morris

Originally posted 2011-02-25 08:28:22. Republished by Blog Post Promoter

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