September 21st, 2009 — Coin Collecting, Liberty Head Silver Dollars, Morgan Silver Dollar, US Coins
Liberty Head silver dollars have been referred to in many different ways over the years. First they were called Buzzard Dollars, because no one really liked the original design of the rather scrawny eagle on the back. The large, heavy coins were also referred to as Cartwheels, and are today most commonly referred to as Morgan Dollars, after their creator, George T. Morgan.
Though when they first appeared in 1878 these coins weren’t popular at all, today Liberty Head silver dollars are one of the most collectible coins in the world, among silver and all other types of coins. When these coins were minted, the dollar coin had been discontinued for 5 years already, with Americans showing a clear preference for paper dollars. The coins were minted because of the large silver surplus created by the purchase of silver from the Comstock lode in Nevada, to keep Nevada’s economy above water. To use the silver, these coins were commissioned.
George Morgan was an Englishman who designed the Liberty Head silver dollars, and despite his post as US Chief Engraver after that, one he held for over 40 years, these coins were the only American ones he ever designed. Because these coins weren’t popular and few people used them, production stopped in 1904. Many of the coins were melted down in 1918 to help Great Britain’s war efforts. Then more were minted in 1921, but only for a brief time before the Peace Dollar was minted to commemorate the end of the war, and quickly became the most popular silver dollar in America.
The Liberty Head silver dollars continued to be melted town, and the public showed little interest in collecting them until about 1972, when a large collection of over 400 bags of the rare Carson City minted dollars was discovered. The collection ended up selling at auction for over $7 million dollars. While all these dollars are collectible, some are more valuable and sought out than others.
The most rare Liberty Head silver dollars are those minted in 1895. Called the “king” of these dollars, some have sold for over $100,000 at auction. What makes these coins particularly valuable is their rarity, and the mystery surrounding them. Twelve-thousand 1895 coins were struck, according to mint records, yet only about 80 have ever been accounted for, and all of those were proofs. None of the regular circulation coins have been recovered. Whether they were ever minted at all comes into question, but doesn’t lessen the mystique of the coin.
Liberty Head silver dollars, aside from the 1895 strike, aren’t particularly rare because millions of these coins were minted. They were larger than typical coins, and the original eagle design wasn’t popular, yet today they’re consider one of the most collectible US coins available. Online auctions are an inexpensive and ideal way to purchase these collectible coins, whether you want to purchase them to begin investing in silver, or to make the Liberty Head silver dollars an important part of your coin collection.
Originally posted 2008-11-11 14:00:28. Republished by Blog Post Promoter
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September 20th, 2009 — Ancient Coins, Coin Collecting, Gold, Gold Coins, Gold Eagle Coins, Rare Coins
Gold is one of the most popular substances in the world, and rare gold coins are highly sought out by collectors, not just for the precious gold content, but because of the rarity of the coins and the designs themselves. How do you know if a gold coin is actually rare, or just old? First of all, if you’re shopping in online auctions, which is actually a good place to find coins, decide that you won’t get too excited by every auction that claims its coins are rare.
“Rare” is actually a flash-word in online auctions, designed to get people to view the auction. If you browse the site a while, you’ll find items listed as “rare” and “hard-to-find” that you can probably purchase anywhere with very little effort. This practice has made the word rare almost meaningless on eBay and other online sites. So to find truly rare gold coins, you’ll need to do a little research on the coin that’s offered in the auction, as well as into the seller’s past auctions.
Have a look at the seller’s feedback. Does every auction represented there shout “Rare!” from the rooftops? Also, you can search on the specific coin that’s offered to see which others sellers offer it and what they have to say about it. Then you’ll want to research the coin online to find whether its truly rare, or the use of the word was just an advertising tactic. Truly rare gold coins won’t be found in hundreds or sometimes even dozens of auctions at one time, because of their rarity.
Even reputable online shops that deal in gold coins will exaggerate the use of the word “rare.” If you search on “rare gold coins,” for instance, you’ll come up with hundreds of dealers that don’t really happen to have any rare gold coins for sale, but newly released ones. They’ve simply used “rare” as keyword to rank higher in the search engines when someone’s looking for a rare coin, in the hopes of attracting that customer’s business with their new coin selection.
Your own interest in rare gold coins and a little time spent searching can help you find the right coins. You’ll also get a good idea of the price you should pay for one, judging by the median amount charged by many different dealers. Also do a search on eBay for closed auctions that featured that item, and you’ll see about how much you might end up paying if you should purchase from an auction.
Some of the most rare gold coins from the United States were minted before 1933. Liberty gold coins minted throughout the 19th century, and the Saint-Gaudens gold coins and Indian gold coins minted from the early 1900s to 1933, are some of the best rare coins available today. They’re prized, not just for their gold content and their rarity, but their beautiful designs, with the Saint-Gaudens considered one of the most beautiful American coins minted to date.
Originally posted 2008-11-14 05:34:49. Republished by Blog Post Promoter
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September 19th, 2009 — Bullion, Coin Collecting, Silver Bullion Coins, US Coins
American Silver Eagles have been minted in the United States since 1986. These are the official silver bullion coins of the United States, guaranteed to contain one troy ounce of silver that’s 99.9% pure. A troy ounce is actually slightly heaver than a typical ounce of weight, because it’s not measured by weight but rather by grains. A grain is a unit of measure used where absolute precision is crucial, as in archery to weigh arrow heads, and in ballistics to weigh powder and bullets. An ounce is between 28 and 29 grains, and is a very specific number that goes out to 9 decimal places. A troy ounce is over 31 grains, in a number that goes out to 7 decimal places. A troy ounce is the measurement always used for black powder, precious metals and gemstones.
Silver Eagles have their one troy ounce weight and silver content certified by the United States Mint, and are authorized by the US Congress. A proof version of these coins is produced specifically for collectors. These coins have been produced by three mints. Coins marked with a P were minted in Philadelphia, with earlier coins bearing an S for San Francisco and the most recent silver coins marked with a W on the reverse side, which stands for West Point.
The front or obverse of Silver Eagles is based on the “Walking Liberty” design that appeared originally on half-dollars minted between 1916 and 1947. Designed the Adolph Weinman, it became a favorite and one of the best-loved coin designs in American history, so it was chosen for the Silver Eagles. The back or reverse of the coins feature a heraldic eagle.
The face value of Silver Eagles is $1, but the silver content causes the value of these coins to vary with the markets. Because of the different minting, it’s best to look into reference books to find the value of any coins you’re interested in purchasing. Because these coins have been struck in such huge numbers, the value is often not as high as one might expect, even for proofs. Most can be purchased for $25, with that number fluctuating along with the silver market prices. Some years with lower minting can go for over $100, and the boxed anniversary set issued in 2006 that went for $100 each now commands over three times that, because only 250,000 were created. Some rare dates can cost thousands of dollars, but without an up to date reference book it’s difficult to know which are more valuable.
When looking at Silver Eagles do your research and become familiar with the more rare coins, and those which can be found almost anywhere. As with most things, eBay is an excellent source for Silver Eagles of the more rare varieties. One good strategy for investors is to buy the current year’s Silver Eagles and work your way backwards through the years. This can make the collecting more fun and interesting, and give you time to investigate the more valuable minting and dates.
Originally posted 2008-12-14 14:00:32. Republished by Blog Post Promoter
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September 11th, 2009 — 1902 Barber Dime, Coin Collecting, Rare Coins, US Coins
The value of a 1902 Barber dime varies, depending mostly on the condition of the dime. While the face value may be only 10 cents, they’re often worth several dollars—sometimes hundreds of dollars. The best way to determine the value of your Barber dime is to consult an up to date coin value guide. The best way to find the most current information is by looking on numismatic websites and auction sites where these dimes are available to see the most recent pricing on them.
The history of the dime in general goes back to 1796, with the front of the coin bearing a Liberty head and the reverse featuring an eagle. The dime is the smallest US coin, and its appearance has changed many times over the years. A 1902 Barber dime is so named because it was a coin designed by Charles E. Barber. While the earliest dimes changed many times, our current dime has been the same since 1946. Our current design is smaller than the original dime, and the materials used today are different, as well.
The first coins representing a tenth of a dollar or ten cents were actually called dismes, minted in 1792, but weren’t circulated. The first actual dimes appeared in 1796 and are referred to by numismatics today as the Draped Bust dime. These coins bore no value on them anywhere, unlike today’s dimes which clearly say they’re worth 10 cents. In 1809 the design was changed to what’s now known as the Capped Bust dime, which bore the marking 10C on the reverse. Neither of these early dimes was minted each year they were available, but a dime has been minted almost every year without fail since 1827. The Barber dime appeared in 1892, with the 1902 Barber dime representing only one year of the design’s 24-year history, ending in 1916. The previous design, though, was minted far longer. The Seated Liberty design debuted in 1837 and was minted for 54 years, until the Barber dime took its place. The only dime that has been minted longer is the Roosevelt dime that has now been minted for 62 years.
The 1902 Barber dime isn’t the most valuable dime available of its design. The 1894-S has been known to go for more than one million dollars at auction—the highest amount ever drawn for a single dime—because only 24 of these particular coins were struck, and of those, only 9 still exist as far as collectors and the US Treasury are aware.
Still, the 1902 Barber dime carries much more than the value of 10 cents. The coins have silver content, so even a coin worn practically smooth carries scrap silver value. A common method in determining the value of this coin is how clear the inscription of “Liberty” is on Lady Liberty’s headband on the front of the coin. The less worn and more distinct the inscription, the more valuable the coin. Proofs and circulated coins alike are easily found on eBay.
Originally posted 2008-12-06 05:00:12. Republished by Blog Post Promoter
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September 10th, 2009 — Coin Collecting, Half Dime, Rare Coins, US Coins
You might think a half dime is simply a modern nickel. But half dimes were actually silver coins worth 5 cents that were minted before the coins that eventually became our modern nickels. They were authorized in 1792, much smaller than the dimes of the time and much thinner, giving them the actual appearance of being almost half a dime. When lobbyists fought to have nickel included in the creation of new coins in the 1860s, the new three- and five-cent coins pushed out the older silver coins so the original half dimes were last minted in 1873.
The US half dime was minted from 1794 to 1873, and was one of the original coins minted in the United States. The first design is known as the Flowing Hair design because of the Liberty’s flowing hair, but was only struck for 2 years before being changed to the Draped Bust, Small Eagle design. This design also lasted for only 2 years, before half dime minting stopped and wasn’t resumed against until 1800. This design was known as the Large Eagle design, with the Great Seal of the United States appearing on the reverse of the coin. These were struck until 1805, and then no more were minted until 1829.
The half dime that returned in 1829 now bore the words “five cents” instead of half dime. The design appearing on this coin lasted until 1837, when a Seated Liberty design once again bearing the words half dime was minted. New minting in 1837 saw the silver content lessen, though the coins remained the same size. In 1840 the design was changed to include drapery and stars, and wasn’t changed again significantly after that. After the Civil War in 1866, nickel-based 5-cent coins were circulated at the same time as silver half dimes but 1873 saw the last half dimes minted to make way for the 5-cent coins.
Of all the half dimes available today, the 1802 Draped Bust, Heraldic Eagle is one of the most rare and collectible. Only a little over 13,000 of them were struck, but only about 16 are known to exist today. The half dime is still an interesting conversation piece, aside from its collector and real-world value.
Because the silver content of the half dime dropped long before minting stopped, people tended to try to acquire the earlier half dimes so more of the newer coins were struck to replace them. The most valuable coins are the earlier ones with higher silver content, though some were actually minted without the name of the country because of a die problem, and these are valuable novelties for coin collectors.
The half dime is a fairly rare coin so the best places to find one in good condition are places like eBay where a huge variety of sellers can present their items. The best way to find the value of a coin is to consult a coin guide, and compare that to the most recent information you can find online.
Originally posted 2008-12-07 14:00:27. Republished by Blog Post Promoter
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September 7th, 2009 — Coin Collecting, John Quincy Adams Dollar Rolls, John Quincy Dollar Rolls, US Coins, world coins
Whether you’re new to coin collecting or you’ve been fascinated by coins for years, now is the time to invest in a John Quincy Adams dollar roll. If you have a free book offered by the US Mint to house your Presidential Dollars collection, you’ll want at least one loose John Quincy Adams dollar, but the roll is more of an investment in the coins. If you purchase a roll of each Presidential dollar released from the beginning of the program through the end in 2016 (though more presidents will be added, extending the program) you’ll have an amazing variety of dollar rolls that will look impressive in any sized collection.
The John Quincy Adams dollar roll is the latest offering in the Presidential Dollars program. Much like the 10-year 50 States Quarters Program that proved a favorite among collectors, and especially children who enjoyed collecting these coins, dollars featuring United States Presidents are released over a span of time. The 50 States Quarters were released in the order the states became part of the union; the Presidential Dollars are released in the order in which they served the country as Commander in Chief.
Coins in a John Quincy Adam dollar roll, and in all of the Presidential Dollars, are the same composition as a Sacagawea Golden Dollar. But each coin features the name and likeness of the President on the front, along with the years of his term of office, and which President he was—1st, 2nd, etc. Presidential Dollars are unique from any other US coin in the way much of the information typically found on a coin is printed on their edges instead of the face or reverse. “E Pluribus Unum,” “In God We Trust,” the mint mark and the year of the coin are now on the edge of these coins.
Also setting coins in a John Quincy Adams dollar roll and other Presidential Dollars apart from every other coin minted in the United States, the world Liberty does not appear on the reverse of the coin. An image of the Statue of Liberty stands for liberty, instead. The coins have been issued at a rate of 4 per year since 2007.
The John Quincy Adams dollar roll became available this year, in May of 2008, and is the 6th release of these dramatic and beautiful coins. George Washington, John Adams, Thomas Jefferson and James Madison Presidential Dollars were released in 2007, and James Monroe was the first release of 2008, followed by John Quincy Adams. Andrew Jackson and Martin Van Buren Dollars have also been released since then this year, with the four scheduled to be released in 2009 being the next 4 Presidents in order, Harrison, Tyler, Poke and finally Taylor. These coins are great to teach kids about our Presidents.
Your local bank should be able to supply you with a John Quincy Adams dollar roll, but auctions like eBay are great for quickly grabbing rolls of past releases. Keep the roll intact to retain all of its collector value.
Originally posted 2008-12-12 14:00:25. Republished by Blog Post Promoter
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September 6th, 2009 — 1925 Coin Penny, Coin Collecting, Rare Coins, US Coins, Wheat Penny
Probably one of the easiest coins to acquire for a coin collection is the wheat penny. This coin was a United States penny minted from 1909 to 1958. The coin goes by many names, including the Lincoln Wheat Cent and Wheatie, and was worth 1 cent at the time it was minted. While few are worth more than that today, some uncirculated mintings have gone for thousands of dollars at auction.
Most of us who had grandparents or parents who kept pennies in jars have been able to search through those coins and find at least one wheat penny or two. The front of the penny looks indistinguishable, at first glance at least, from the pennies minted today because they still bear the bust of Lincoln on the front (or obverse) side of the coin. The back of course is different, because the two wheat stalks that were on the reverse of the wheat penny were replaced with the Lincoln memorial in 1959.
The change in the reverse design, however, isn’t the only different between the wheat penny and the modern penny. And there are even variations among wheat pennies, depending on the year the penny was minted. Some of the wheat pennies produced in the beginning featured the initials of the sculptor, Victor David Brenner, on the reverse side of the coin below the wheat stalks.
This was a cause of controversy, however, and in 1918 the initials VDB were moved to the front of the coin. You must look very closely at a wheat penny from those early years and you’ll see the tiny initials on the bottom of Lincoln’s bust, below his shoulder. The coins produced before the change was made in California are more valuable than most other types of these pennies, because less than half a million were produced by that mint before the public complained enough about the prominent initial display to have it changed.
These early pennies are called “VDB” cents due to the placement of the initials. If you happen to find a 1909 wheat penny with those initials on the back below the wheat stalks that was minted in San Francisco, California, even if the coin is in poor condition, it could be worth hundreds of dollars. Mint coins with that configuration can go for much, much more. VDB cents minted in Philadelphia hold much less value, because more were produced. The 1914-D coins are also typically quite valuable.
A wheat penny with a minting error can also be valuable, such as the 1922 penny that looks plain because the die was full and couldn’t imprint the coin, and one produced in 1955 which appears minted twice, known as the doubled die coin.
If you can find lots of wheat pennies for very little money, you might enjoy looking for these different variations. Someone without an interest in the wheat penny who puts several up for auction in a lot might not even be aware that they’re selling a gem.
Originally posted 2008-11-17 14:00:16. Republished by Blog Post Promoter
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