February 1st, 2012 — Coin Collecting, Rare Coins
Rare coins can be an incredibly important part of any coin collection, as they provide interest, intrigue, and pride to the collection itself. Some people will only have a few of these coins in their collection, while others will have a wealth of these coins. Whether you have one rare coin or a multitude of rare coins, you need to work to make sure that the coins are cared for.
There are certain actions that you must take to protect the coins in your collection, especially the rare coins that you do have. These coins have high values and should be treated as such. These are just some of the tips to consider when taking care of the most valuable coins in your collection.
Clean Them Carefully
One of the most important things for you to do to your coin collection is to clean it. The same can be said for rare coins – you need to clean them to keep them safe. A serious cleaning when the coin first becomes a part of your collection is crucial, as the dirt and grime and cause issues as far as the surface of the coin is concerned. Routine light cleanings will help to keep the coin free of any potentially damaging surface substances while keeping the coins looking their best.
Secure Them
If you have rare coins, you must keep them secure. Do not put the rare coins in a location that is easily bumped. Do not allow the coins to move freely, where they could bump up against one another. Small dings and scratches can cause serious issues as far as value is concerned, especially if the damage is in one of the important areas of the coin, like the mint location or the year. If you properly secure your coins, you will be sure to avoid any potential issues as far as bumping and scratching is concerned.
Insure Them
One of the things you must do to care for your rare coins has nothing to do with the physical aspects of the coin. You need to insure all of the rare coins that you have. This will help make sure that your coin value is insured. Should anything happen to the coin, you will not lose the value of the coin. Many fail to realize that a rare coin is an investment – should something happen to that coin, and you are uninsured, you will lose the investment.
If you are starting to collect rare coins, you are getting into serious coin collecting. You need to act like a serious coin collector if you want to make sure that your collection is secure. Taking care of the rare coins you have in your collection is imperative, as it is necessary to make sure that the coins do not lose their value at any time. Follow these tips and seek out other tips to truly understand how to care for your rare coins.
Photo Credits: kevindooley
Originally posted 2011-05-27 03:06:02. Republished by Blog Post Promoter
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February 1st, 2012 — Buying and Selling Coins, Coin Value, Paper Currency, paper money
Collecting currency is something that people have been enjoying for a long time. It is a way that you will be able to get to know the currency for your own nation as well as the currency for other nations. These different kinds of currency allow you to be able to enjoy the different changes which have gone on throughout history. Among the most elaborate of the currencies is that of the paper currency. If you enjoy collecting this kind of currency, it is a good idea to get to know what affects the paper money price.
To understand everything which goes into paper money price, you will need to understand many of the base concepts of collecting currency. This includes getting to know the grading system itself. You should also get to know what rarity has to do with price. Additionally, you must understand that things can change to elevate or decrease the value of the paper money that you have in your collection. This will allow you to be able to get everything that you need so that you will be able to not only enjoy your collection more. You will also be able to buy and sell with confidence.
What Makes Grading
One of the most important parts of determining paper money price is to determine the grade of the item. The highest quality when it comes to grading paper money is that of the pieces which have never been touched by human hands. These mint pieces are treasured even when they are still fairly new. As money is handled or torn, it degrades in grade. The lower the grade is, the less it will be worth. Bear in mind that even though something has a poor grade it does not mean that it is worthless.
Get to Know Rarity
There are plenty of pieces which fetch a high paper money price. This is due to the fact that they are considered to be highly rare. The rarer the item is, the more that it is worth. It does not matter whether it is terrible condition. These conditions can be created because of changes in government as well as changes in the currency. Whenever you are collecting, it is always fun to look for these because they normally have a great story as well as the fact that they are a challenge to find.
Changes to Value
It is also important to remember that changes happen all the time which affect paper money price. These changes usually involve some kind of a discovery or an event. Among the discoveries can include a highly graded rare item. This will make the lower grade of the same item worth less. Additionally, there are some rare items which will become less rare whenever a cache of the currency is discovered. There can also be changes which will cause something to be rarer based on destruction or things getting lost. Knowing this will help you to get more for your collection.
Photo Credits: shannonpatrick17
Originally posted 2011-09-14 08:49:46. Republished by Blog Post Promoter
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January 28th, 2012 — Coin Appraisal, Coin Collecting, Coin Collection Value
A coin collection can be an important part of your life, taking up much of your budget and your time throughout the years. Those who put time, energy, money, and heart into their collections should be doing everything that they can for their collection. Many fail to realize that one important way to take care of your collection is to document it.
There are two main reasons to completely document the collection that you have. The first reason it to make sure that you have a full record of your coins for personal use. You may have a large collection and can easily forget which coins you already have. Secondly, you need to work to document your collection in case of emergencies and for insurance purposes. The following tips will help you to document your collection.
Be Detailed With a Spreadsheet
It is important for you to provide as much detail as possible to your documentation when trying to document all of the coins that you have in your collection. You need to make sure you list the official name of the coin, any nicknames you may have for the coin, the amount you paid for the coin, the mint location of the coin, the year of the coin, and possibly the current value of each coin. The more information that you have, the better your documentation will be and the more useful the documentation will be.
Take Photographs of Each Coin
One of the best ways for you to document your coin collection is to take pictures of each of the coins. This will help you to better understand the mint of each coin as compared to others and provides a visual recording of your collection. For the most organized documentation possible, match up the coins in the spreadsheet with their images. Labeling each coin with a specific number and labeling each picture with the corresponding number will help to keep your organized and your coin collection well documented.
Have Values Appraised
If you are serious about coin collecting, you are serious about the value of your coins. Have your entire collection appraised to give yourself the ultimate documentation. You will receive a value for each coin and an overall value for your collection. Both numbers are important, as they will help you to understand your investments and how much your collection is worth overall. The more information that you have about each coin, the stronger your documentation is. Ask the person who is appraising your collection to list the coin with the value. This will make it easier for you to add the information into your own documentation after the appraisal is complete.
There are plenty of individuals who have large coin collections that are undocumented. They cannot tell you exactly what coins they have, an serious problem that could haunt them in an emergency. If you are serious about coin collecting and are serious about the coins that you have, take the time to correctly document your coin collection.
Photo Credits: celesteh
Originally posted 2011-05-11 03:44:07. Republished by Blog Post Promoter
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January 25th, 2012 — Coin Collecting, Gold Coins
The gold coin is one of the oldest forms of coins to be used. This is because even before the value of coins was printed on the coins themselves, the coins were valued simply for the weight of the gold which it was made out of. This made sense to trade through the use of gold coins because the gold had value as did the item or service the gold was being traded for. As countries become more established over time the gold coin was created to include more decorations including ornate obverse and reverse faces which held their own value.
The modern gold coin looks very different from the old coins. There are many different reasons for this. One of the biggest reasons for the changes in the ways that coins have been made is that they no longer have to be struck by hand. Additionally, there is value placed on the coins looking beautiful. These gold coins have also been created to commemorate events and people for the rest of the world to remember. While any good numismatist will surely know this information, it is good for all people to know the history of the gold coins and their place in the modern world.
New Striking Technology
Looking at an old gold coin it is easy to see that they were struck by hand. This is because you will see that one side shows more relief than others. This is because no matter how steady the die was, there were still blows which would catch a coin slightly off center. Slight shifts in the die between strikes could also cause double casting and other imperfections. The new methods allow for fewer strikes and more accuracy but slightly less character in the coins which are cast.
Value Placed on Beauty
Since the new coins could be struck faster and with less attempts, it was possible to offer coins with far more detail. This is why the modern gold coin places more value on beauty. Since the coins lost some of the intrinsic value when the modern mint was created, it opened the door to make the coins valuable in other ways. This is how you get coins which are designed by sculptors like the Saint-Gaudens Double Eagle or the English Gold Sovereign which was engraved by Benedetto Pistrucci.
Reasons to Mint Coins
With the ease in which the modern gold coin could be created, it cleared the way to create coins for just about any reason under the sun. These days it is common to find commemorative coins which celebrate human achievement or mourn the loss of those in tragedy. Other coins are made in order to celebrate past gold coins which are no longer in circulation. While some coins are worth millions, all gold coins are still worth at the very least the metal that they are made from. This gives them value no matter what you think about the way they were made.
Photo Credits: oliworx
Originally posted 2010-09-03 03:57:16. Republished by Blog Post Promoter
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January 9th, 2012 — Coin Collecting, Coin Value, Silver Coins, Silver Dollars, US Coins
The most valuable silver dollar is the 1804 Silver Dollar with the Draped Bust. As a side note, this coin is not only the most valuable in the silver coin category; it is presently the most valuable in the world. As with any coin, there are a few different reasons for the extreme value of the coin. Taking a closer look at these reasons will help you to understand more about coin collecting in general and what factors a coin can have in order to make it one of the most valuable coins available.
Much of what makes the 1804 silver coin so valuable is the rarity of the coin. Only 15 specimens are known to exist. This is out of the less than 20,000 which were originally produced in 1804 and in 1834. The tale of the coin has a lot to do with the value of the coin as does the beauty of the coin. These are just a few of the factors which make the Draped Bust one of the most valuable coins in American history and one of the coins which stands among the most valued in the world.
Rarity of the Coin
The rarity of the silver coin has a lot to do with the value of the coin itself. This is why a coin which has only 15 left in existence is such a valuable coin While many of the coins ended up residing in Siam and Oman, the rest of the coins live in museums like the Smithsonian Institution and the American Numismatic Association Museum. There are only six coins known to exist in private collections. There have been many fakes, but because of the difficulty of reproducing such a coin, most have been discovered.
The Story of the Coin
The original 1804 silver coin was created in 1804 based on the 1803 die. This was a way for the Mint to be able to save money in order to produce the coins which were needed in circulation. Less than 20,000 of these coins were produced making them few in number to begin with. In 1834 the government reused the die but kept the 1804 date. This was confusing to many people. The coins were then given as gifts to Asian countries to thank them for maintaining trade with the United States. Between 1858 and 1860 there were two versions of the coin which were struck by Theodore Eckfeldt. These comprise the Class II and Class III versions of the coin and were not intended to be distributed. All of the class II coins were seized by a handful of the Class III coins got out to the public.
The Beauty of the Coin
The “>silver coin was created with the intent to look beautiful and its portrayal of lady liberty on the obverse is one of the most striking features. The eagle on the reverse is also quite striking in its use of stars olive branches, arrows and other embellishments.
Photo Credits: Legend Numismatics
Originally posted 2010-08-31 09:14:25. Republished by Blog Post Promoter
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January 6th, 2012 — Coin Collecting, Coin Value, Morgan Dollars, Silver Dollars, US Coins
There are few types of coins which vary in value more than the Morgan Dollar. The Morgan Dollars were created in 1878 and was minted until 1904. It was minted for one additional year in 1921. While there are other silver dollars which have been minted since, this is one of the best known for its wide varieties of value and the amount of errors which have surrounded the coin. The coin has a picture of lady liberty with part of her neck in profile on the obverse. The eagle is on the reverse.
When looking to buy these US dollars, it is common for people to want to purchase the ones which will be worth the most. This means looking for the Morgan Dollars which come from three specific years. This is due in part to the low mintage as well as the high number of controversy and the amount of mistakes which have occurred during the mintage years. The three most valuable years include the years of 1889, 1893 and 1895. In some years the mint is more valuable and in other years the proof is more valuable. It all depends on the amount minted and their value to the collector.
The 1889-CC Mintage:
The CC version of this coin was only able to produce 200,346 coins. This is a very low number when you consider that the majority of years included a mintage which stood more in the millions than in the hundreds of thousands. Finding one of these coins is extremely difficult to do as most of the collectors which have them are looking to hold on to them as long as possible. They know that the price of these Morgan Dollars is apt to go up significantly before they will be ready to sell.
The 1893-S Mintage:
There were only 100,000 of the 1893 Morgan Dollars which were minted. This is a number which is disputed as many will tell you that there were actually only 77,000 produced. No matter how many were actually minted, it appears that there are very few left available today. It is estimated that some of these coins which can be graded at MS 65 have a value at or above $600,000. There are other reports which value the coins at far less than that. This means you have some haggling in your future.
The 1895 Proof:
There were only 880 proofs which were made of these Morgan Dollars. To give you an idea of how much the proof is worth, the coin which was a part of a 12,000 set minted is worth $80,000. This means anyone who is holding on to one of these pieces has a small fortune waiting for them when they decide that they are ready to sell. The trick is making sure to find the right buyer and making sure to stick to your guns so that you can get the price that you deserve for having one of the rarest of all of the Morgan Dollars.
Photo Credits: FrictionShifter
Originally posted 2010-08-16 09:03:45. Republished by Blog Post Promoter
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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 7th, 2011 — Antique Coins, Coin Collecting, Coin Molds
The world of coin making has changed a lot over the years. What was once a long drawn out process of several strikes with a large hammer and a cast was changed into something which could be done with one strike of a machine thanks to the use of hydraulics and the use of better casts. The molds which were used to make the antique coin is something which was very different than what you see today. This has caused the coins to be more valuable as well as the mold itself.
When it comes to the molds for antique coins, everything had to be held in place so that the coin would not slip as it was being struck. This caused considerable wear on the coin mold. There were stabilization efforts made so that the coins would not be lopsided. Eventually the molds were made so that they would be able to strike more than one coin at the same time to save time and labor. These molds not only were unique because of the way that they were created. The molds were unique because of the kinds of coins which were cast.
Worn Out Molds
When the molds were used a few times they were not able to keep the look of the coin anymore. This is why some antique coins from the same minting have more relief than others. The material used was later changed so that they would not get as work out as quickly. Until that time the molds were broken at the end of their useful cycle so that no one else would be able to use the molds to try to counterfeit the antique coin.
Stabilization Efforts
In an effort to keep the antique coins from being lopsided, the mint started using stabilization methods. These included a rod and shaft. The rod would go into the shaft and it was used to stabilize the die so that when the coin was struck it would not be lopsided like so many of the coins previous. Of course even with this new technology all the coins were still struck by hand and the process was remarkably slow. With several strike necessary, you would get the opportunity for worn out molds and worn out laborers.
Dual Coin Striking Efforts
In an effort to save some time and labor when making an antique coin, there was a cast which was made that would allow the mint to strike more than one coin at the same time. While this seemed like a good idea at the time, it did not really save that much time. This was because the laborer still had to hit the cast a certain number of time per coin. The only difference was that now they did not get the break in between when the new round was inserted to the die to strike a new coin. The molds are still fun to look at.
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Originally posted 2010-08-10 18:45:59. Republished by Blog Post Promoter
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November 25th, 2011 — Coin Collecting, Proof Coins, Uncirculated Coins
The unique thing about coin collections is that there is a myriad of different ways to start a coin collection, and you can collect a wide variety of different coins or a small variety of very special coins depending on your interest. One of the options for coin collecting that you may want to consider if you enjoy unique coins is the art of collecting proof coins and uncirculated coins, which are coins that are not or have never been in actual use as currency in this country or any other country in the world for that matter. If the idea of proof coins and uncirculated coins seems worthwhile to you, the following information will prove useful.
There are a number of coins out there that never ended up being placed in circulation to be used for the purpose of commerce. This coin grade never had any wear or any defects meaning that these coins can be close to mint in condition. If you store these coins improperly, however, they can be worn and will no longer be in perfect condition any longer. Even if the wear is quite minor in nature, it will not allow the coin to have an “uncirculated” grade any longer.
When coins are first produced at the mint, they are placed into large canvas bags so that they can be transported. During the handling and transport phase, they can receive some small nicks and marks from rubbing and bumping along one another in the bags, and these marks are specifically known as bag marks. Bag marks tend to appear much more noticeable when the coin is larger in sized, such as a dollar or a half dollar coin. Typical bag marks will not prevent a coin from keeping the uncirculated grade. Light bag marks will not keep a coin from being considered to be uncirculated, but they may change the value that the coin receives if they are more noticeable bag marks.
Uncirculated coins are also capable of showing spotting, tarnish and discoloration while still maintaining the uncirculated grade when it comes to coin conditions. You should never clean a coin that has become tarnished as many methods of cleaning are actually capable of causing further wear on a coin, and this wear will upset the “uncirculated” grade of the coin.
There are also coins known as proof coins that were minted with the use of highly polished dies and never saw the light of day in terms of circulation. Just like with uncirculated coins, these proof coins are capable of experiencing darkening or tarnishing. Because labor and production costs went into producing proof coins beyond average coins, the mints that produce them quite often will sell them at a higher premium price, and often in much more limited numbers as well.
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Originally posted 2009-07-31 05:56:25. Republished by Blog Post Promoter
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November 19th, 2011 — Buying and Selling Coins, Paper Currency, paper money, US Currency
Collecting money is a past time that many different people find joy in. This is because there are many different kinds of currencies that you can collect. Among the currencies that people like to collect includes paper currency. If you are looking to get started with this kind of currency, you will need to know as much about it as possible. This will help you to be able to make better trades as well as making sure that you will be able to get the kinds of deals which will help you to make a lot of money.
There are a few things that you will need to know whenever you are collecting paper currency. You will need to know what kinds of currencies you are looking to collect. You will also need to know about the grading system. Additionally, you will need to know about the different ways to determine value. These things will help you to be able to get the kind of collection that many others would be jealous of. You will also be able to make sure that you are getting the most out of something that might have started out as just a hobby.
Which Currencies to Collect
Whenever you are getting ready to collect paper currency, it is a good idea to make sure that you know which ones you want to collect. While it is possible to collect them all, most people will collect a certain type. This is something that you will be able to do whenever you are making sure that know not just about the different world currencies, but the divisions within the specific currency type. For instance, you should know the different between a Confederate States of America note and a pre-US colonial currency.
Learn the Grading System
Naturally, any time you are collecting paper currency, you will need to know what the grading system entails. It is the same as with coins in that the bills which have not been touched by human hands are the most valuable of all. Any creases, tears, marks or discolorations will cause the bill to be lower in the grading scale. With many of the older notes, it is impossible to find a mint status bill. If you come across a bill that you want to collect, it is a good idea to have it professionally graded to preserve its value.
Determining Value
In order to determine the value of the paper currency, it is important to first establish the grade. You will then need to determine the market value. While there are established market rates, there can always be changes which will affect this. Look for fluctuations in the market due to recent discoveries about the bills as well as anything which might have happened which will decrease the number of similar bills in existence. The rarer the bill is, the more valuable it will be to other collectors. You can ask for a higher price than what it is stated that it is worth based on this.
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