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 12th, 2012 — Coin Collecting, English Coins, English Gold Sovereign, Gold Coins
There are many coins which have been used for a long time, but few have been used longer than the English Gold Sovereign. This is a coin which has been used for over 500 years. It has gone through different obverses and has even gone through periods where it has not been coined. Other than that, it is still the most widely used coin in England and in other countries which are a sovereign nation of England or once were a part of the British Empire. The rich history of the coin makes it a highly collectible item for numismatics.
There are a few things which you should know about the English Gold Sovereign if you are considering collecting them. These points are more points of interest than they are to provide any statistics on what makes the coins valuable. Of course, the more you know about a coin, the easier it is to determine what value they have. It is interesting to know about the amount of gold present and the weight of the English sovereign. It is also interesting to know about the use of coining of the sovereign. Most importantly to numismatics, it is interesting to get to know all of the different variations which have evolved out of the sovereign.
Weight and Gold Content
It is easy to spot an original gold sovereign by judging how many carats the coin is made out of. The original coins used 23 carats of gold while the current coin only has 22 carats. This was a change which was put into effect by Henry VIII. This is what is known as the gold standard or the crown gold. The weight is something which has also been toned down from the original. The coin which used to weight 240 grains (15.552 grams) now weighs a total of 113 grains (7.322 grams).
Coining the Sovereign
The gold sovereign is a coin which is made out of nearly pure gold. It has a 91% purity level. This means it is possible for the Mint to melt down the gold coins and re-coin them as new coins. This means that while some people might have just received a coin from the mint, they might have metal which was mined over 500 years ago. This is because of the practice of regularly reclaiming coins once they become worn and melting them down to create new coins.
Variations of the Numismatics
The basic gold sovereign has a value of one pound even though they do not have any kind of denomination on it. These include the half sovereigns (10 Shillings), the quarter sovereigns (5 shillings), the double sovereigns (2 pounds) and the quintuple sovereigns (10 sovereigns). While the values of the different sovereigns has changed over the years, the fact that the Mint has a policy to reuse coins for Minting means that those which survive from year to year will increase in value very quickly for those who want to collect them.
Photo Credits: practicalowl
Originally posted 2010-08-16 03:51:09. Republished by Blog Post Promoter
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January 4th, 2012 — Coin Collecting
There are many different ways you can add coins to your collection. You can purchase them through other collectors. You can purchase them through coin shops. You can even have them handed down to you from people you know including family members. One of the ways which is becoming more popular to get the coins collectors want is to attend coin auctions. These are held throughout the country in many different cities. In fact, the major cities throughout the United States might have a few different auctions that they have throughout the year.
The way that an auction works is that you will be able to see coins which you normally will not find at coin shops. Best of all, everything is for sale. This means if you have the funds to be able to purchase the coin, you will be able to purchase it at a price which is below what the market values it at. In some cases you will purchase the piece above the valued rate, but for the most part you will be purchasing these coins at a slightly discounted rate which will allow you to find the coins that you are really hoping to buy.
The ANA Coin Auction
The ANA (American Numismatic Association) is one of the most trusted associations for coin collectors. It represents the ethics and the standards that all numismatics should strive for. The auctions which are represented by the ANA are well known to have some of the best pieces you can find. Best of all, you will have a very low chance of running into any counterfeits or pieces which are graded incorrectly. This way you will be able to get a coin which is actually worth the price you purchased it for, if not more so.
Seeking Out the Coins
When you go to a coin auction, you will be given an opportunity to look at all of the coins before the actual selling begins. This is your opportunity to take a more in depth look at the coins you would like to purchase. You will be able to ask questions and take the time to look up the coins in your coin book or through the internet on a smart phone or laptop. Many will seek out specific coins that they need or want at the auction and this is the time to find them. This way you will be able to make a better offer when you are bidding on the coins you want.
Bidding at the Auction
Bidding at a coin auction can be intimidating the first time that you do it. You do not want to drive up the price, but at the same time, you do not want someone else to outbid you. There is a strategy which you can employ which will help you to get better bids on the coins you want. Simply pay attention to the bids others are making before making a bid. If there are two people battling for the coin, do not get involved until one has bested the other. If the price has already gone too high for your tastes, opt out of the bid.
Photo Credits: mukais
Originally posted 2010-08-24 03:26:52. Republished by Blog Post Promoter
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December 26th, 2011 — Coin Collecting, numismatics
Since ancient days, coins have been utilized as a primary method and medium for exchange. The entire economy concept stands on the foundation that is provided by coins and paper currency, though the history of coins is much deeper than paper versions of money. In most languages, the term currency and coin are often considered to be synonymous. The history of currency and coins throughout the ages has made for some truly interesting reading. The concept of numismatics is all about studying coins and collecting them. Many people that are into numismatics consider coin collecting to be collecting pieces of history.
There is a lot of debate within the study of numismatics as to when the world’s first coins were created. Some people believe that the Chinese, the Indians or the people of Lydia may have been responsible for first using coins as an exchange medium, though this is also largely debated. Lydian coins are often found to contain symbols of unique individuals rather than any form of an official seal, and therefore these coins are often perceived to be personal tokens rather than a medium for exchange among the civilization.
Historical evidence also seems to indicate that the individuals responsible for handing out these coins often hammered them into their own unique shapes. This means that there likely was not a structured economy during the period where these Lydian “coins” were crafted. In China and India, however, the symbols present on the coins were much more uniform in general, indicating that there was likely a strong and structured economical background. These coins can be viewed by the general population in Chinese and Indian museums, which is very beneficial for the study of numismatics and for collectors that want to see how coins have evolved over time and across the globe.
One of the popular subjects of study among numismatics is the materials that coins are crafted from. Coins are made from a wide variety of different types of metals including steel, iron, bronze, copper and zinc, and they have all been used for various purposes throughout the ages. The coins that were minted in China during the Maurya dynasty were crafted from iron and copper. In years earlier, coins were minted solely from bronze. Those coins are regarded as being the property of the country that they were minted in, and often are protected and considered to be national treasures.
Coins are not always minted for the pure purpose of being mediums of exchange. Bullion coins, for example, are made out of purely precious metals such as palladium, gold and platinum, and this is done to preserve the metal in a specific shape. The coins are never actually minted to be currency at all. There are other coins, such as commemorative coins, that are minted purely to be collector’s items. There are a wide variety of unique coins in the world, and numismatics is all about studying them for their rich history and purpose.
Photo Credits: woody1778a
Originally posted 2009-08-26 05:12:16. Republished by Blog Post Promoter
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December 24th, 2011 — Buying and Selling Coins, Coin Collecting
Having a coin collection is something which more and more people are getting into every year. This is because it is fun and it can be quite profitable when you get a good deal on a coin. This is because some coins can be worth nothing more than the face value of the coin. Others can be worth thousands to millions of dollars. The better the deal you get on the coins that you purchase, the better a chance you have that you will be able to make a huge profit when you sell it later.
This raises the question as to where you should go when you are looking to buy coins. While there are many places looking to sell coins, most are looking to sell at or above the market rate. Even when you find a place which is willing to sell at a discounted rate, they do not want to come down too far from the market rate. This means you have to get clever. There are a few places which will allow you to buy coins at a great rate. You will just have to be willing to work for your score.
Shop at Antique Stores
While antique stores are great at knowing a lot about different kinds of antiques, they do not know very much about numismatics. They will sell raw coins or coins in flips or coins in bags. You will even occasionally find graded coins in slabs. What you will not find are coins being sold anywhere close to what the market rate is. This will allow you to get a coin at a fraction of the price that it is normally worth. You will have to be willing to sift through a lot of useless coins before you get to something which is worth your time.
Shop at Garage Sales
Just like with antique stores, garage sales can be a treasure trove for numismatics. You will be able to buy coins which are worth thousands of dollars tagged with a price of slightly more than the face value of the coin. The price is indicative of the coin and the “fancy” case they are selling along with it. Little do they know, they have a MS65 Saint-Gaudens 1927 coin that they are selling for $25. While this is a dream scenario in minds of most, it is a story you hear all too often.
Shop at Coin Auctions
While this is the lowest yielding of the three options to buy coins at a discounted rate, this is also the safest route. This is because the majority of the coins which are available have already been graded and slabbed. You know exactly what you are buying and you will be able to get it for less than what the market rate is. It is important when buying in this arena that you set limits to the amount you are willing to spend on certain coins that you see before the bidding starts.
Photo Credits: Ivan Walsh
Originally posted 2010-08-20 03:02:12. Republished by Blog Post Promoter
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December 21st, 2011 — Coin Collecting, Notaphily, numismatics
Coin collecting is a hobby which has been going strong for centuries. It is estimated that collecting paper money has been going on ever since the government started to use paper currency. While there are records of people keeping extensive coin collections over 200 years ago, the trend of collecting currency or notaphily was firmly established in the 1970s. This is just one of the many reasons why there are so many differences between Numismatic and Notaphily. It is important to learn the differences whether you are planning to get started in one kind of collecting or the other.
The first thing people want to know when they look at the difference between collecting paper money and coins is which one is more profitable. Another question is what the differences are in the grading scales for the two kinds of collections. Still another question is what kinds of specialty or niche fields of notaphily are available for those looking to get started in collecting or those looking to branch out. Answering these questions allows those who collect coins to determine whether they would like to also collect currency. It also helps those who are just getting started in collecting to determine which kind of collecting is right for them.
The Value of Collecting Currency
Many people are disappointed to find out that collecting paper money is not nearly as profitable as collecting coins. This is understandable when you think about it. After all, coins have been in use far longer than paper currency has been. This means they have had more of a chance to develop a rare status. Since paper currency is a fairly new development as far as money is concerned it is not surprising that you find less bills worth an amazing amount.
The Grading Scale in Notaphily
Those making the switch from numismatics to notaphily will find that the grading scale is very similar. While you will not find a grade of MS69 for something which is nearly perfect, you will find familiar terms like Uncirculated, About Uncirculated, Fine, Poor and more in between. These designations are also similar in the fact that they have very specific values which can be placed on bills depending on what grade they are. The grades are easy to learn. This is especially true if you are used to the Sheldon Scale.
The Niches in Notaphily
Just like in numismatics there are different niches you can get involved in, you will find there are similar niches in notaphily. The niches for paper money vary depending on special series, the country which commissioned the bills and more. Often the most valuable coins are those which were created by a government or system which is no longer in existence. Errors in bills are other factors which collector will look for so that they will be able to buy and sell notes which are extremely valuable. While they may not be as valuable as some of the top rated coins, the bills are still a lot of fun to collect.
Photo Credits: kevindooley
Originally posted 2010-08-17 09:57:23. 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 — Coin Collecting, Exonumia
There are a lot of people who collect coins these days. For as many people out there who enjoy collecting coins, there are a lot of people who enjoy collecting exonumia as well. These items are all of the things which are collected which are related to, but different from the coins and paper money which are collected by numismatics. There are a lot of different things which can fall under this classification. It is good to know about the classification whether you decide to collect the items or not. This is because you will know how they can relate to what you choose to collect.
There are a few things you should be aware of in relation to exonumia. By being aware of these things, you can make a decision to start collecting the forms in general or at least to collect one or two items which fall under the classification. It is good to know what forms these items can take. It is also good to know why they are valuable to people. It is also a good idea to know what you must do in order to preserve the items so that they will retain value and even appreciate in value.
Learning the Forms
The first thing you will need to know about exonumia is what kinds of forms the items can take. This includes such things as tokens and medals. It also includes cheques, credit cards and other forms of non-legal tender or items which have value outside of the numismatic items. Tokens are those which are used as something which is good for something else. These can represent specific monetary value even if they have no actual value in terms of legal tender. Medals have much the same value similarities as the tokens.
Why These are Valuable
The value of anything is up to those who collect them. When it comes to exonumia, the value of something is normally represented by the ways in which it was used or the history of the piece. Tokens which were used for a ride at a certain World Fair will have value because of the fact that the World Fair does not exist anymore and most people did not hold on to these tokens. Other things like elongated coins are valuable because they represent a place or a time in history.
Preserving Your Collection
When it comes to any collection, it is all about making sure that you can preserve the item. Most of what falls under the classification of exonumia can be preserved much in the same way that you would preserve a coin collection. You will make sure that you hold the tokens, medals and coins in slabs or in plastic bags, plaques and more. The idea is to make sure that they will remain in their current state for as long as possible. This is possible by putting them in a state where they will be cut off from air and moisture and oil.
Photo Credits: shordzi
Originally posted 2010-08-12 06:00:09. Republished by Blog Post Promoter
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November 29th, 2011 — Coin Collecting
Coin collecting is an industry that has grown to encompass billions of dollars in sales. The earliest hobby of coin collecting is capable of being traced as far back as 1300 AD, which is when an Italian scholar known by the name of Fracesco Petrarca began to save coins and realized that his hobby collecting coins was growing in value. Collecting coins differs from the concept of numismatics in that numismatics specifically focuses on the study of currency like coins, monetary objects and notes, while coin collecting focuses on collecting those types of money for fun as well as profit.
People who make hobbies out of collecting coins tend to specialize in different specific types of collections. This is often determined by their financial resources and whatever they can invest, as well as the ease of availability for the type of coins. Collections can vary significantly including coin collections that focus on specific countries, coin collections that focus on certain eras and so on.
- Coin collections focusing on a certain country are the most common type of coin collection because accumulating coins from a single country is generally a lot easier and more straight forward.
- Coin collections that focus on a certain era in history may include Russian Revolutionary coins, United States Colonial coins and so on.
- There are other obscure types of coin collections including collecting exonumia or error coins that are created improperly as a result die errors, designs that are uneven and double strikes, as these coins are generally in a high amount of demand. Another specialized form of coin collection is to focus on coins that come from one specialized civilization such as Roman coins, Aryan coins, Celtic coins or coins from the Goth era.
People who are interested in collecting coins can find hundreds of different coin collecting groups and clubs around the United States and around the world. Here, people who are serious about coin collecting gather so that they can discuss trends in coin collecting as well as numismatics. In the United States, a good option worth checking out is the American Numismatic Association which has a constantly growing roster of collectors that are all over the country. This organization was founded in 1891 and highly encourages the research and the collection of a myriad of different types of coins and currencies.
The American Numismatic association brings out a magazine every month that is known as the Numismatist. This is a virtual treasure trove of information for any collector, regardless of whether they are new to the art of have been collecting for years. If you are interested in collecting coins, it would be wise to check out the publication offered by this group of coin collectors, as it is a great place to jump start your understanding of the subject.
Photo Credits: Roger Smith
Originally posted 2009-08-04 05:08:52. Republished by Blog Post Promoter
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