January 24th, 2012 — Buying and Selling Coins, Coin Collecting
Collecting coins is all about building up a great collection filled with some of the best coins that are available. This is true no matter what kind of coins you like to collect. While it is fairly easy to make sure that you are getting a good deal when you purchase coins, it can be a little more difficult to make sure that you are getting the most profit when you sell coins. This is because you will most likely want to hold on to the coins that you have for an extended period of time or you will miss an opportunity to sell your coins at the right price.
There are a few things you can do so that you will get the most out of every coin sale. These tips will work no matter what kind of coins you collect and it does not matter how old the coins are and how much the coins are normally sold for. You will be able to sell coins for the price which will give you the most profit every time. The first thing you will need is to make sure that you have all of your coins graded. You will also need to make sure that the coins are certified. Most importantly, you will need to know the market and be firm in your sell price.
Get Your Coins Graded
The grade of a coin is very important to the price that you will be able to sell it for. This is why you will need to make sure that the coins you have are graded professionally by a third party grading service. Good names to get your coins graded by include PCGS, NGC and IGC. These companies will be able to give you a grade for your coin which just about no buyer will try to refute.
Get Your Coins Certified
In case a buyer wants to refute the grade of the coin, it is a good idea to make sure that you have the coins certified as well. This way you will be able to sell coins which have been certified to be genuine. There will be no room to try and say that the coins are counterfeits or that they have been graded at the wrong level. A certification means that the price you set on the coin is impeachable.
Be Firm in Your Sell Price
Just because a price is impeachable does not mean that someone is not going to try. After all, just as you are trying to get the best price when you sell coins, others are trying to get the best price when they buy coins. Aim high and settle somewhere in the middle. Always have a price which you are willing to go down to but no lower. Make them work to get to that point and do not give them a single cent more. If they cannot accept the price, be willing to walk away.
Photo Credits: woody1778a
Originally posted 2010-09-02 03:13:50. Republished by Blog Post Promoter
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December 25th, 2011 — Coin Collecting, Rare Coins
An individual can invest a large amount to of money into a collection of rarecoins. This is why it so important to have plans in place for knowing how to store your rare coins. Below are some tips on how to best store your rare coin collection so that you can keep you coins safe from damage and also keep them safe from theft.
Sonic Sealing
When you are collecting rarecoins it is good to know the value of them. Part of knowing the value of your coin is knowing the grade of the coin. The grade lets people know what the true condition of coin and thus is a factor is determining the monetary value of the coin. The most recognized coin grading system in the United States is the Sheldon Grading System. This is a grading system which consists of 70 points. The first 59 points are given to coins which have damage and wear from being in circulation. Points 60 through 70 are given to coins which are in mint status or mint condition.
The three top grading services for rarecoins in the United States are PCGS, or Professional Coin Grading Service, NGC, or Numismatic Grading Corporation, and ICG, or Independent Coin Grading. All three of these coin grading services use the Sheldon Grading System. They also will sonically encase the coins they grade along with a label detailing the rating they have given the coin. This protects the coin from being tampered with or damaged which makes string coins much easier.
Safes for Safety
If you will be storing a very valuable rarecoins collection at home then you will want to be sure to use have safe installed in your home for this purpose. The safe you choose should be large enough to accommodate the collection you have or plan on having in the future. The safe should also be cemented in or be bolted to the ground. Doing this will make the safe hard to be lifted up and carried away by thieves.
Having a safe in your home for a coin collection is a good ideal for those who plan on having a lot of interaction with the coins they collect. Having a safe in your home makes it easy to access your coins anytime day or night your convenience. It also makes easy for you to quickly and safely store any new coins you add to your collection.
Safe Deposit Boxes
If you are concerned about storing your rarecoins in your home then you may want to consider getting a safe deposit box. This is especially a good idea for the most valuable coins you may have as part of a collection. By placing your valuable coins in a safe deposit box you are able secure them better then you could in safe in your home.
The only drawback to storing your coins in a safe deposit box is that they are less easy to access then the ones you may store in your home. This is why most people will keep the bulk of their coin collection stored at home and the place only the most valuable coins inside their safe deposit boxes.
Photo Credits: Zaphgod (was Ugo Cei)
Originally posted 2010-08-19 09:53:34. Republished by Blog Post Promoter
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December 18th, 2011 — Buying and Selling Coins, Civil War Coins, Coin Appraisal, Coin Collecting, Coin Value, Rare Coins, US Coins
There are several coins which were minted and used during the Civil War. Some of these rare coins value at very high prices while others do not. There are also several fake Civil War coins which entered the market once people realized that these coins were of value to collectors. If you have a Civil War Coin then you want to be sure you get the value of the coin properly determined. Below is some information about how you can go about determining the rare coins value of your Civil War coins.
The Red Book
Annually a book called the Red Book
comes out which has several collectible coins listed in it. The value of the coins at the time the book is printed can be found in the book. This can be a good resource for you of you are 100% certain that the coin you have is from the Civil War era.
The biggest drawback to using this book is that the rare coins value of the coin you are looking up could have changed after the tome the book was distributed. You really only want to use the Red Books if you are just curious about the value of your coin. If you are looking to buy or sell a particular Civil War coin you may want to select a more accurate pricing source.
The Internet
The internet can be tricky place to buy and sell collectible coins. Often people who are selling coins inflate a rare coins value. This is why you should only use the internet to look up information published by coin experts, or numismatics, which are not trying to buy or sell coins.
If you look for resources on the internet which are respected in the coin collection industry you could find that the prices they give are more up to date than the printed in the most recent Red Books. This could make a big difference in your decisions to buy or sell a coin.
Grading Services
It is hard to know what the actual amount of a coin will be without the use of a grading service. If you are going to have your coin graded you want to avoid going to what are called “basement slabbers”. These are coin graders who do inaccurate grading and are not fully recognized or respected by those in the coin collection filed. Instead you will want to go to one of the three top professional coin graders.
The there top coin graders which can help you determine a rare coins value are PCGS, or Professional Coin Grading Services, IGS, or Independent Grading Service, and NGC, Numismatic Grading Corporation. These three services will grade your coin on the respected Sheldon Grading System which consists of a 70 point scale. After they have determined the grade of your coin they will have it sonically sealed so that it can not be tamper3ed with or removed from the case in any way.
Photo Credits: TomConger
Originally posted 2010-08-18 09:29:39. Republished by Blog Post Promoter
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December 11th, 2011 — Buying and Selling Coins, Coin Appraisal, Coin Collecting, Coin Value
The key to having a good coin collection is being able to know exactly what you have and what it is worth. There are many ways in which you can find out how much your coin collection is worth. You can figure out how to grade and appraise the coins by reading different books on the subject. You can even get software which will detail out the methods you will use to grade and appraise your coin collection. Of course, most people still feel more comfortable getting a coin appraisal from an expert.
The question is how do you get an appraisal from a reputable source? There are so many out there which offer to give you an appraisal on the coins that you have, it is hard to know who you can trust. This is when you can turn to the best in the business. It is important to make sure to avoid those which are known as basement slabbers. Making sure that you get a coin appraisal from a good source is the best way that you can protect your investment and make sure that you are getting a good price on your coins when you sell them.
The Best in the Business
When getting a professional coin appraisal, it pays to get it done from those which are the most well known in the business. These companies include PCGS, NGC and ICG. They will be able to tell you what the grade of your coin is, encase it in the proper casing to protect the coin and best of all, they will be able to tell you what the coin is worth in the current market. This is the best service that you can ask for because you are guaranteed that the appraisal is accurate because of the standards that the companies have.
Basement Slabbers
One of the worst steps you can take is to get your coin appraised by a basement slabber. This is a company which is in the business of grading. However, they will not give you a professional grading. Instead, what they will give you is a lot of ethical problems to deal with. They will give your coin a higher grade than it actually is. This way you will be able to sell the product at a much higher value than it is actually worth.
Selling with Ethics
The reason why you want to go with a good coin appraisal is because it is important to sell with ethics. Those who do not sell with ethics will develop a reputation and will be shunned by the rest of the industry. You will have a hard time being able to buy and sell the coins that you want to buy. It is much better to simply get the right appraisal and sell coins at the price that they are worth. This will help to make sure that you will not be taken advantage of in the future as well.
Photo Credits: MelvinSchlubman
Originally posted 2010-08-12 03:52:55. Republished by Blog Post Promoter
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November 28th, 2011 — Coin Collecting, Uncirculated Coins, US Coins
If you are new to the practice of American coin collecting, then there are a number of terms and types of coins that you are going to want to understand, otherwise they will seem confusing to you and may give you some trouble. The purpose of this post is to discuss a few common terms in the art of American coin collecting that you can apply to United States Mint coins such as the Silver Eagle coin, the Platinum Eagle coin, the Gold Eagle coin and the Gold Buffalo coin for example.
Mint – When a coin is described as being mint in American coin collecting, what that means is that the coin has been made to be a regular circulated coin, and yet it has just come from the mint and is not yet damaged or circulated. The Mint for the United States can sell these coins from their normal production batches.
Proof – If the coin is labeled as being proofed or if proof is mentioned in the description, then what that means is that the coin has been crafted using high pressure, giving it a shiny and mirrored finish. The images on coins like this in American coin collecting also tend to have more detail to them. These are not coins that are intended to be spent or circulated, but rather they are specifically intended for collecting.
W – If the coin is being described by its year but with a W at the end, this means that the coin has a mint mark on it that was used by the mint at the West Point branch in New York.
Uncirculated – What this term means, in American coin collecting, is that the coin has not been used or spent in any way. In other words, this term is used in order to describe a coin that is in the most perfect conditions, as if it were coming fresh from a Mint.
PCGS – This is a term that stands for Professional Coin Grading Service. When a coin is described as being PCGS, then that means that the service has graded the coin for American coin collecting purposes.
NGC – When a coin is described as being NGC, then what this means is that it has been graded by a service that is known as the Numismatic Guaranty Corporation.
Keep in mind that the above grading services do cost money in order for a coin to be graded. Should a coin be labeled as having been graded, what this means is that one of these services has guaranteed the quality and the authenticity of the coin, and this means that the coin is naturally going to be higher in value.
There are all kinds of American coin collecting for you to know and utilize. The above should be a good foundation for you to get started with. When you understand the basics in American coin collecting, you will be better able to find the coins that best suit you, ensuring that you get the best value for what you pay as well.
Photo Credits: herzogbr
Originally posted 2009-12-02 03:56:50. Republished by Blog Post Promoter
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