December 31st, 2011 — Coin Collecting, commemorative coins
There are a few different kinds of coins which you will find in most every collection. Rare coins are among the most prized of all coins you will find in a collection. Of course, these are not the only coins which you will find in a collection. You will also find that most collections will have at least one commemorative coin. This begs the question as to why these kinds of coins would be so collectible. The more you find out about commemorative coins, the more it will make sense to own the coins in your own collection.
For most people, the answer to why the commemorative coin is collectible is because it is instantly valuable. The coins value of each coin will depend on a few different factors. It will depend on the amount of coins which are produced. The beauty of the coins and the story behind the coins also plays a large part in how valuable the coins will be to you and other numismatics. Keep these things in mind when you are going to buy your next commemorative issue coin from the mint or from another collector.
Volume of Striking
In most cases a commemorative coin is struck with only a limited number being put into production. This means that the coins are instantly rare. The less the coins which are created, the less you will find that you or anyone else can obtain. If the coin is intended for distribution as legal tender as the state quarters are, only the ones which are graded in Mint Status (MS60 – MS69) are considered to be worth anything other than a quarter. This is because anything which has been held by human hands has nothing unique about it. It is common.
Beauty of the Coin
The beauty of the commemorative coin is very important in terms of its value. This is because all else, people like to look at the coins. The more striking the coin is, the more it will be worth to the numismatic crowd. Coins like the Saint-Gaudens Double Eagle are prized not only because they are rare. They are prized because they are considered by most to be one of the most beautiful coins ever to be struck by the Mint.
The Story Behind the Coin
Often if the commemorative coin has a good story attached to it, it will increase the value of the coin. This can be the reason why the coin was created in the first place. It can also be because the coin went through a lot of turmoil to get to the point in history where it currently resides. The more interesting the story, the more the coin is worth. Often the story behind the coin will be what has led to the rarity of the coin or the beauty of the coin. This is why many of the commemorative coins which are sold are either graded and slabbed or they are sealed in a frame which tells the story of the coin.
Photo Credits: kevindooley
Originally posted 2010-08-29 03:48:44. Republished by Blog Post Promoter
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December 20th, 2011 — Coin Collecting, Rare Coins
There are many reasons why a coin will become rare and collectible. It may be that it was a commemorative coin which was intended to be rare and instantly collectible. It can also be because the coin was taken out of circulation or was not authorized for striking by the U.S. Mint. Of all the different stories which exist, one of the most interesting stories in rare coin collecting is the one which surrounds the 1933 Saint-Gaudens Double Eagle. This is the only coin which has been made illegal to own all except for one coin.
About the Original Coin
The 1933 Saint-Gaudens coin was in a series of coins which was designed by the sculptor Augustus Saint-Gaudens. It is dubbed by the U.S. Mint simply as a double Eagle, but it is well known in rare coin collecting as the Saint-Gaudens Double Eagle. It is a coin which was created in 1907 by Theodore Roosevelt as a way to beautify the national currency. This was achieved as the coin is still to this day considered to be one of the most beautiful of all American coins by those who collect coins.
The Recall
In 1933, Franklin D. Roosevelt decided that America needed to abolish the gold standard. He signed an executive order which called a halt to all gold coin production. Further, the order indicated that the coins had to be melted down to be turned into bullion. The executive order made it illegal for anyone to own any of the coins. All other coins before 1933 had been distributed to the public, so it is impossible for the government to make it illegal for the public to possess them. What Roosevelt did not count on is that the coins would be stolen by mint cashier George McCann.
The Heist
A daring move which has lived in history for all those in the rare coin collecting world is the day when McCann made off with 20 to 30 of these 1933 Saint-Gaudens Double Eagle coins. They have since been hunted down by the Secret Service. To date, about 20 have been recovered and are being kept by the United States government at Fort Knox. These are the only coins other than those on display in the National Museum of American History and the U.S. National Numismatic Collection which are known to exist. This is to say all except one highly controversial 1933 Double Eagle.
The King of Egypt
The King of Egypt in 1944, Farouk was an avid collector of more than just coins. As a part of his thirst for rare coin collecting he acquired one of the 1933 Double Eagles. He applied for the right to export it from the U.S. and thus gaining legal permission to own it. He was granted the right to do so right before the treasury discovered that a number of the 1933 coins had been stolen. To date, it is the only coin of the vintage which is legal to be owned.
Photo Credits: roberthuffstutter
Originally posted 2010-08-18 03:04:49. Republished by Blog Post Promoter
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October 26th, 2011 — commemorative coins, US Coins
The United States Mint gains authorization from the United States Congress to produce what are known as commemorative coins, which are produced rather regularly throughout the years for a myriad of different purposes. These coins are produced to commemorate, to celebrate or to honor people, events, places and institutions for a number of reasons. When it comes to commemorative coins and coin collections, these coins are typically divided into two different eras, Old and Modern. Old commemorative coins are coins between 1892 and 1981, and Modern commemorative coins are coins from between 1982 and present day.
There have been a wide variety of different people that through the years have been memorialized in the form of United States commemorative coins. Benjamin Franklin, Thomas Edison, Leif Erickson, Christopher Columbus and Chief Justice John Marshall are all examples of people that have been commemorated in this fashion. Ulysses S. Grant, Queen Isabella of Spain and Daniel Boone have also been commemorated in this way in the past as well.
There have also been a number of places that have been honored through the creation of commemorative coins, including the White House, West Point and the Smithsonian. The White House was honored with a 200th Anniversary commemorative coin in 1992. The West Point military school was honored in 2002 for their Bicentennial. The Smithsonian was honored in 1996 for their 150th anniversary.
There have also been a number of events that have been honored through the creation of commemorative coins. The Korean War was commemorated in the form of a Silver Dollar in 1991, and then the Vietnam War received a similar Silver Dollar commemorative coin in 1994 after its memorial’s 10th anniversary. These commemorative coins were created not only to commemorate the creation of the memorials, but also to honor the men who died during those wars.
The Statute of Liberty has also been honored through the creation of numerous commemorative coins. In 1986, three commemorative coins were created to honor the Statue of Liberty, including a half dollar coin, a silver dollar coin and a $5 golf coin. The Statue of Liberty is not only a place worthy of being honored, but the commemorative coins are also meant to honor freedom, democracy and the gift from France to the United States represented by the gift of the statute.
Collectors may choose to collect different commemorative coins depending on what concepts their collections are aimed to symbolize. There are commemorative coins for many different purposes including the Olympic games, the bill of rights, World War II, the civil war battlefields, the Bicentennial of the constitution, desegregation at the Little Rock Central High School, the first flight on the behalf of the Wright Brothers and many others. No matter what type of coin collection you are creating, there are commemorative coins that will fit right in.
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Originally posted 2009-06-27 05:43:11. Republished by Blog Post Promoter
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