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    »Tips on How to Avoid Fraud on Collectible Coins«

  • TorontoSEO 11:46 AM on March 30, 2006 Permalink |
    Tags: , , , , , , , , , Tips on How to Avoid Fraud on Collectible Coins, , , , transaction   

    Tips on How to Avoid Fraud on Collectible Coins

    Many people enjoy shopping online where there are great buys of coins that can be found. A person may prefer do his shopping while he is at home because it is convenient and time-saving instead of going out looking for stores that sell collectible coins and other souvenirs.

    A person can differentiate between a live auction and an Internet because an online auction can take several days to complete. They entertain bids for the highest price up until the time the auction is about to close.. Many people that are bidding online enjoy the experience and they may be familiar with the strategies to use to win an online auction.

    There are also online sites where a person can buy any item that may capture his interest. This is where most coin collectors purchase their desired coins. By searching and finding the item that they want, they can actually negotiate and make the payments through the Internet. This can be very risky as you are dealer/seller that is unknown to the buyer, yet many people are still making transactions and payments through this kind of online auction.

    Fraud is common even though many Internet sites that do business online contend that the risk of fraud is not something to worry about. They contend that only 0.0025 percent of true cases of fraud occur with online transactions – that means only one out of 40,000 listed Internet transactions would be fraudulent. On the other hand, the FBI has their own investigations, which prove that those figures are not true- they contend that the risk of fraud is much higher according to their statistics.

    A person should believe the FBI for his own protection. Even if one can say that the majority of online coin selling transactions are honest and credible, the process used to make the transaction most probably is questionable and uncertain. There are business transactions, which are intentionally committing fraud with their clients and buyers. Aside from flea-market dealers, mail-order sellers, in-person auctions and some coin stores, the Internet has introduced the crime of fraud to many people in the easiest way possible.

    One protection that a coin buyer should know is how to get “feedback”; that way, a person can see the ratings other bidders give the seller and he may compare his transaction with the transaction of the others. Since there is a great risk of fraud where there is negative feedback, the person may withdraw his participation from the auction if he deems that to be necessary.

    A person may also acquire ideas by looking for those members who have left “positive feedback” and compare it to the reaction of the sellers. A person can make an assessment of what could be possible useful information from those reactions. Be careful and precise about any transaction that is offered by the seller.

    There are instances where a person is deceived about the item he purchased. The photo shown on the Internet displayed the coin that a person wants to have but they delivered a totally different item. These cases are fraud. A person must make sure that the item he saw on the photo is the exact item that will be delivered to him. Here are some tips that will help a person prevent fraud during a coin search in the Internet.

    1. A person should save the online photo of the coin he wants to purchase. Many sellers remove the image and the title of the item once a purchase has been made.

    2. A person should get the description and the auction information. It should either be e-mailed to the buyer or sent in writing by mail.

    3. If there are suspicions regarding an auction, a person should ask for clarification from to the seller. This will avoid misunderstandings and confusion on the part of the buyer.

    4. A person has the right to refuse any transaction where he thinks the price given on the coin is too high. One should be aware of the standard price of the specific coin and compare it to the price that was given during the online transaction.

    5. A person can ensure that there will be no fraud by asking the seller, before the auction closes, if there is any available escrow assistance for the bidder.

    These are only a few tips that will ensure a person of his safety when making any transactions online. Fraud can happen to anyone, especially those who are interested in purchasing collectible coins online. It is always important to be informed and knowledgeable about the possibilities of encountering fraud.

     

  • »Tips in Buying Bullion Coins«

  • TorontoSEO 11:46 AM on March 29, 2006 Permalink |
    Tags: , , Bullion Coins, Buying Bullion Coins, , Eagle, , , , , silver ingots, Tips in Buying Bullion Coins, , ,   

    Tips in Buying Bullion Coins

    What are bullion coins? These coins may have high values because they are not only limited; but also they may have been found in shipwrecks, or they may come from the ancient times. Bullion coins are the type of collector’s items that many people look for.

    The silver bullion could be the most well known type of bullion that is selling very well in the internet aside from those that are to be considered to be most expensive and valuable items in the world.

    Some high priced coins that are displayed on the internet include the silver ingot. The silver ingot was said to have been found in the Spanish ship Atocha that sank in the ocean. This ship was found to contain treasures and artifacts including silver ingots. Others claim that the silver ingots were recovered from an old Colorado Mining area. Coins were found everywhere and were said to have been hidden by the miners.

    The silver Maple Leaf Coins, which are officially sealed, are also popular among collectors. These coins came from the Royal Canadian Mint and include the Walking Liberty half-dollars and the dealer roll first-strike 1994 U.S. Eagles. These items were a collection of the Franklin Mint which had more than 100 masterpieces in his memorabilia.

    Most bullion collectors prefer the gold billion. Some famous bullion gold coins include the gold Krugerrands, which are from South Africa. The European Gold Crowns were released from the late 1800s to the early 1900s. Other items include the Canadian Maple Leaf Coins and the United States American Eagle Coins. British Sovereigns are also seen on the internet as are the Swiss Helveteas and the French Roosters.

    The awesome 10-ounce Swiss gold bar, China gold panda set, and the American eagle proof set coins can also be found and are considered to be the most seen coins on the internet. There are gold bullions found in the American Eagle set, Mixed Lots, Rounds, Bars, and any other similar categories that are found on some sites n the internet.

    A type of bullion that is not well known is the Platinum bullion. It is less researched on the internet because the demand for it is not as great as the silver and gold bullions. Platinum bullions can be purchased anywhere: some of them are the French Statue of Liberty coins, Eagle sets, and the Koala Proofs. The World Trade Center has also offered some Platinum bullions like the Englehard platinum bar, crucible dish made of platinum bullion, and the Johnson Matthew Year of the Dragon coins which were recovered from the safety vaults of the building when it collapsed.

    These coins can be considered as thoughtful gifts aside from their being valuable since they can be kept as a souvenir from the person who gave it. A bullion bar that features a happy birthday greeting can be a thoughtful gift for a friend’s birthday especially if the bar has the date of the birthday on it. Some people also use them for their anniversaries as their gifts to one another – they search for those bullions that have the date of their engagement or the wedding year. Some brides also ask their groom to find her 24-karat gold flakes or silver flakes as her chosen token for their wedding.

    Coin collecting of this type can be very expensive, especially when buying bullions, but here are some tips that can guide a person in his search for affordable bullions.

    1. A person must be sure of the type of bullion he would like to purchase before ordering or buying.

    2. He must ask himself, or the person he is buying the bullion for, what bullion he/she prefers and ask if they would like to come with him when purchasing the bullion.

    3. A person must figure the delivery costs and add them to the agreed price.

    4. A person should be sure that the seller would contact give him a delivery for the item if they have ordered it on the internet.

    5. He should never make the payments using instant money transfer firms.

    6. It is important to know the seller’s background and reputation in the business.

    A person can purchase any bullion that he prefers. The idea of giving bullions to a special loved one or friend can be very thoughtful and it will serve as memorabilia that will be kept throughout the years.

     

  • »Guide for Rare Coin Collectors«

  • TorontoSEO 11:46 AM on March 18, 2006 Permalink |
    Tags: , , Guide for Rare Coin Collectors, Rare Coin Collectors, rare coins, , , ,   

    Guide for Rare Coin Collectors

    Coin collecting is one hobby that is both fun and challenging. To help those who are looking for those rare coins, here is a list of hard to find ones that are worth moving “heaven and earth” for.

    Gold coins are something of a rare commodity. They were circulated only until 1933, which makes them expensive when they are auctioned. The nice thing about gold is that its value probably will never go down – making it a good investment.

    Another rare coin sought by collectors is the Liberty Seated Dollar. These were last produced some time in the 19th century and are considered to be a rare find.

    From 1875 to 1878, twenty cent coins were minted. This coin looks very much like a quarter and since its value is very low today, it is a coin worth looking for.

    The Barber half dollars are rare coins that were minted from 1892 until 1915 and are collected by people depending on date or type. One of the challenges that occurs when searching for this coin is finding one in good condition.

    The 1917 type One Standing Liberty Quarter is another coin worth owning. It was only minted for 2 years and shows the exposed breast of Ms. Liberty. This design created such an uproar that it had to be replaced and was only circulated for a year.

    Mercury dimes were produced periodically during the 20th century. The market value of them is $50 a piece.

    The Walking Liberty Half Dollar is a beautiful coin for collectors. They were only circulated for 4 years and are considered to be one of the all time rare coins to ever exist.

    The Texas Commemorative Half Dollar is another rare coin. Only 150,000 of these were minted over a 4 year period and just 60% to 80% of these are still available today making it one of the hardest coins to find today…

    The most expensive coin is the $20 Saint Gaudens. This was sold in an auction for nearly $8 million. The design is truly superb and the value of it has never dropped even during the 1980-82 bear market.

    Rare coins are truly a challenge for anyone who seeks to make this a mission in life. Not only are they hard to find but it they are expensive to acquire. Should a person have the funds available to purchase them then this adventure is truly something worth finishing.

     

  • »How to Grade Your Coins«

  • TorontoSEO 11:46 AM on March 17, 2006 Permalink |
    Tags: , , , , , , Grade Your Coins, How to Grade Your Coins, Mint State, , , Strike, , , ,   

    How to Grade Your Coins

    A “grade” is described as a shorthand designed by coin experts (numismatists) to reveal a coin’s appearance. Simply put, if a certain coin collector tells another collector that he owns an uncirculated Charlotte 50 half eagle, both should already have a concept of the coins appearance without even seeing it, because of the claim of its grade.

    Some disclose that designating a grade to rank or categorize a coin is more of an art rather than science, since often it is extremely subjective or biased; this applies particularly when working on “Mint State” coins where little differences, in terms of grade, make so much difference in the price.

    Grading can be learned, studied and applied with a predictable and known outcome that eventually depends on judgment, not feelings.

    Like any language, science, sport, or research, it is best to learn and understand coin grading one component at a time, through serious study and experience.

    Today, most numismatists use the “Sheldon grading scale”. While there are those that complain of “too many grades”, most experienced coin graders recognize and appreciate the fact that there is a wide range in features between ranges.

    Strike

    This is the method of stamping or imprinting a drawing or a symbol onto a blank. Depending on the coin’s design, it can either have weak or strong strike. An example of this would be the “Type II gold dollar” on which both sides (front and back) have the highest strike that is perfectly aligned, meaning, these designs require weak strikes.

    Generally the strike is not a key factor in establishing the coin’s grade except when it is included in a series where the value is connected to strike.

    Preservation of the coin’s surface

    The number of coin marks as well as where they are placed is a significant element in establishing the grade. While there is no fixed formula on the number of coin marks that sets its grade, there are several regulated standards regarding the significance of the location or positioning of a scratch.

    For instance, a coin having a deep scratch that it is not easily visible on its reverse (back) side will not be strictly penalized. However, if the same scratch was positioned on a noticeable or obvious central point on the front, such as the cheek on the Statue of Liberty, it would be penalized much more.

    Patina or luster

    A coin can have a variation of textures on the surface, influenced by design, the metal that was used and the “mint of origin”. Textures can include frosty, satiny, proof-like and semi-proof-like.

    When examining the coin’s surface in terms of grade, two things should be looked at; the quantity, or what is left of the original skin (has to be intact), and the location and amount of marks.

    Luster is important especially when determining whether a coin is either circulated or uncirculated. A coin in Mint State technically; is free of abrasion and wear and must not have significant breaks in its luster.

    Color

    This is a very subjective element in determining coin grade. For instance, a “gold coin” showing dark green-gold pigmentation may be unattractive to one collector and attractive to another.

    As gold is moderately an inert metal, it is not prone to much color variance as copper or silver. Although wide ranging colors may exist in gold coins.

    Almost all of US gold coins had been dipped or cleaned, therefore not anymore displaying their original color. As coin collectors become knowledgeable, most of them are attracted and fascinated to coins having their natural color. In most coin series, it is nearly impossible to discover original coin pieces.

    Eye attraction or appeal

    Color, luster, strike and surface marks come together, comprises “eye appeal”. Note that a coin having superior “eye appeal” can be strong in one aspect, such as possessing exceptional luster but not quite as strong in another aspect, such as not so good color.

    A coin that is undesirable in one aspect yet good enough in all the other aspects can still be distinguished as “below average” in “eye appeal”.

    Knowing how to grade a coin is very important so that one can have an idea of the value or price of the coin that he is buying or selling. When new to coin collecting, be sure to ask the help of an experienced collector or dealer when buying or exchanging your coins.

     

  • »Wanna Start On Collecting Coins A Worthwhile and Educational Hobby«

  • TorontoSEO 11:46 AM on March 16, 2006 Permalink |
    Tags: , , , , , , Educational, , , , , , Wanna, Wanna Start On Collecting Coins A Worthwhile and Educational Hobby   

    Wanna Start On Collecting Coins A Worthwhile and Educational Hobby

    There are many reasons why one collects coins. There are collectors who collect on the basis of the coin’s future perceived value, some collect coins coming from just one particular period, some on metal type and some for a coins historical value.

    There are also those who enjoy collecting everyday common coins, gaining pleasure from inspecting mint marks and dates on their everyday change. Others have a collection of coins coming from different countries. Some coin collectors spend thousands on rare gold and silver coins from the period of the 1800’s until the early 1900’s.

    The hobby of coin collecting can give pleasure and fun to an individual of any age. Many coin collectors began their collection when they were young children, collecting dimes or pennies and many of them have made coin collection a lifetime hobby.

    The hobby of collecting coins involves spending money from the very start so it is good to join a coin collectors group to get ideas and help from knowledgeable and experienced collectors.

    You need somebody to buy your coins from, and it may be hard to find a coin dealer of good repute when your are new to the hobby, so having someone that has been in this hobby for years can be of great help to guide you on choosing an honest and knowledgeable coin dealer.

    Begin by acquiring a big magnifying glass and examine coins in a bright area so you can spot mintmarks, errors and to clearly read dates on worn or damaged coins.

    Decide on what coins to collect and buy a “bookshelf folder” for that series.

    You must also have storage, such as clear tubes made of plastic or coin tubes having top screws to keep your coins in until you are ready to put them in a coin album; storage can also be good for keeping duplicate coins.

    You must learn about different coin values. Follow what types of coins are sold, and how they are priced, based on dealer pricing. You also will need someone or some references that will show you how to evaluate the accurate value of a certain coin based on mint mark, age, color, surface and condition.

    “A Guide Book of United States Coins” or universally known as “the red book”, which is published yearly, provides a good outline of the U.S. coins history, information on basic coin grading, coin descriptions from past to present including a list of errors to watch for, average U.S. coins retail cost, and an explanation of errors which occurred in the “minting process”.

    Monthly publications from “Coinage” (coin collecting magazine) contain many useful facts and information as well articles about your new found hobby plus a lot of great photos.

    The newspaper, particularly in the numismatic world section, will be of great interest to you especially when you become more and more involved and interested in your hobby and want to remain up to date with the present happenings in the world of numismatics.

    As you grow more experienced in coin collecting, your “eye for coins” will improve and develop maturely so that you now will be scrutinizing more carefully the features and details such as coin lettering, making certain that the letters are not blemished or blurred, but are still distinguishable.

    You will be spending so much interest and concentration on the coin’s general state that eventually you can walk away from certain coins that show evidence of abrasion, and will then be experiencing the fun side of coin collecting.

    Spend ample time reading, looking at photos, learning from experienced collectors and asking as many questions as needed from not only other collectors, but dealers as well. The hobby of coin collecting is a continuing process that will last for as long as you are continuing the hobby.

    Your knowledge and training will save you a lot of money as well as make you money when the time comes, but more importantly, have fun while learning. Take pleasure in what they call the “Hobby of kings” that has turned to be the “King”of hobbies.

    Keep on studying and learning, because the better you understand, the more that you will enjoy your new found hobby.

     

  • »How to Detect Counterfeit Coins«

  • TorontoSEO 11:46 AM on March 15, 2006 Permalink |
    Tags: , , counterfeit coins, Detect, , duplication, How to Detect Counterfeit Coins, , , , , ,   

    How to Detect Counterfeit Coins

    A special machine does the stamping of coins to make them genuine. People who counterfeit coins are well trained and have the capacity to manipulate their duplication – especially those rare coins which have high value among collectors. The most common procedure used in counterfeiting is that they pour a liquid metal into molds that will leave die marks with cracking on the counterfeit coin.

    Those who are experts in determining counterfeit coins have observed that the changes seen in the coins have added, removed, or even altered the coin’s date markings. If a person thinks that he is in possession of a counterfeit collectible coin, he can compare it with another coin – one like the suspect coin – which is known be genuine and have the same markings.

    If the coin’s value is more than 5 cents, look for corrugations in the outer edges of the coin. These are very thin railings (also know as “reeding”) on the edges of the coins. Genuine coins have very thin edges and the railings are even and distinct if one is very observant. Those coins that are counterfeit can be distinguished if the edges are not thin enough and the railing is uneven or missing in some areas.

    Should there be an instance when a person perceives that he has received a counterfeit coin, he must not return the counterfeit coin to the person that handed him. He must try to delay the person – should he try to escape – or try to keep that person in sight and follow him to his destination if possible. It is important to remember the person’s clothes and physical appearance and if the person has any companion during the exchange: if they have a vehicle, get the car’s license plate number and immediately call the nearest police department or the United States Secret Service for help.

    There are many things that can be considered to determine whether the coin is counterfeit or not. There are terms that are used to describe a counterfeit coin’s characteristics and they are as follows:

    1. A restrike of a coin can be considered to be genuinely authenticated. These coins are actually dated earlier than those originally issued by the country that released them but have the same or exact features as the original coins.

    2. Coins of a specific country in the ancient times are sometimes copied by another country. A person may think that it is forgery, but it is not because they had been legally approved in the country where they originated.

    3. Forgery can be associated with the making of an illegal profit. It would be the main objective of the counterfeiting syndicate. The government sometimes uses forgery for political propaganda, as in the Second World War when Germans produced millions of American and British banknotes with the intention of profiting from them and destabilizing their enemy’s economic situation.

    4. Another known type of counterfeit coins is replica coins. Replica simply means that the original coins are copied with the same features and markings. The usual counterfeit coins have differences that are noticeable when examined by coin experts. Some coins have the word “copy” intentionally put on the sides of the coins and these replicas are used for educational purposes and museum displays.

    5. A Lebanese connection is said to have a huge production of counterfeit coins. These coins were found to be used in an attempt to fool many museums, collectors, business leaders and other countries that are searching for their ancient lost coins before the discovery of this syndicate.

    6. The collector intended forgery and the circulated intended forgery are types of forgeries where the coins are intended to be tokens yet the face values are accepted, despite of their illegality and irrelevant intrusive values.

    It is important to consult an expert to determine if the coin is counterfeit or fake. An ordinary person can easily detect if the wrong metal was used for the counterfeiting. If the person is a collector of such items, he should be more aware of these coins. A collector needs to be more concerned with the collectible rare coins because this is where counterfeiters benefit frequently – their aim is to profit from the exclusive market for valuable coins.

     

  • »Learning the ropes of Numismatics«

  • TorontoSEO 11:45 AM on March 14, 2006 Permalink |
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    Learning the ropes of Numismatics

    Numismatics is the study of money, medallions, banknotes, token coins, and stock certificates. It is believed to have been established in the time of Julius Caesar who wrote the first book on the subject. It is a very interesting topic because every medal or coin signifies a different era, culture, economy and/or politics.

    Numismatists or the people who study the history and over all appearance of the above mentioned forms of currency are different from coin collectors. Unlike numismatists, coin collectors are only interested in collecting coins and the prestige that goes along with it; a numismatist may also be a coin collector and vise versa.

    Over the years, coin collection has been very popular. The most common designs are famous people and animals to depict the era when the specific coin was released.

    Numismatists are generally interested in use of money, its origin, appearance, variety and production. They aim to explore the role of the different kinds of currency in our history using mint information. Mint refers to the place or facility where the coins are manufactured. They also grade or authenticate coins to determine their market value. T facilitate this, coin grading system facilities were established.

    At this time there are three major third party facilities that authenticate coins and/or paper money. These are: the PCGS or Professional Coin grading system located in Newport Beach, CA; the NGC or Numismatic Guaranty Corporation in Sarasota, Florida; and Paper Money Grading (PMG).

    PCGS is a third party institution that was established in 1986, which grades and authenticates coins primarily for commercial purposes. They are an independent body providing expert opinion in rating a coin. NGC is also a third party institution offering services solely to numismatists. It was established in 1987. On the other hand, PMG is solely for authentication of paper money and a smaller department of PCGS.

    When coin collecting was not as popular as it is now, there were only 3 categories into which a coin could fall: 1. Good – which means that the coin has all of the details intact; 2. Fine – which means that the coin has all the details intact and still has a bit of luster visible; and 3. Uncirculated – which means that the coin was never put on the market thus maintaining its original appearance.

    However, today coin grading has evolved and is becoming more definite. They use a combination of letters and numbers that corresponds to the quality of a coin. The coin grading system of United States of America is the most comprehensive and recommended for beginners. An example of USA grading system: MS-60 to MS-70 which means that the coin is blemish-free and has good color and strike. In short it’s perfect!

    Knowing how to grade a coin properly is not only a gift, it’s an art. It requires knowledge, exposure and obviously skills. For coin collectors, ability to grade a coin is a must because the value of a coin largely depends its grade.

    Here are some components Numismatists use in coin grading

    1. Luster – it is a determining factor whether or not a specific coin has been circulated. To have a higher grade, a coin must be technically intact and free from any form of imperfection or blemish.
    2. Surface preservation. Abrasion on the surface of the coin and its location is a huge factor in grading a coin but it does not necessarily mean that abrasion can lower the grade of a coin. For example, if a good-looking coin has a severe abrasion on the back that is unnoticeable it will not count against the coin, but the issue may not be the same if the abrasion is located on the front or focal point.
    3. Strike. It refers to the coin designing process wherein the coin is being stamped onto a planchet. In overall grading, strike does not weigh a great deal.
    4. Coloration. For some coin collectors, preservation of original color of the coin has a huge impact on its value especially if it is a copper or silver coin.
    5. Eye appeal. Some coins may not be perfect but collectors may find them attractive, however, it still requires expert opinion to conclude that a certain coin is excellent in all aspects mentioned.

    If you have no background in grading coins, you have no business in coin collecting and numismatics without employing help from the experts. Coins have been playing vital roles, not only in the lives of people who love collecting and studying them, but in society as they represent different eras in history. Whether you are selling, buying or collecting coins, you must acquire the necessary basic knowledge or information; so that you can be assured that it is accomplished properly.

     

  • »What are Commemorative Coins«

  • TorontoSEO 11:45 AM on March 12, 2006 Permalink |
    Tags: anniversary, , , , Commemorative, Commemorative Coins, , Exposition, , , , , , What are Commemorative Coins   

    What are Commemorative Coins

    Commemorative coins have become very popular. Many people want to have different kinds of coins in their collections or for souvenirs. Many times they are used as traditional gifts for special occasions. These coins are not considered to be practical gifts, bur are commemorative items that can be kept for years as special souvenirs when received by a special friend or loved one.

    There is a strong demand for these coins among people who are collectors as they may have significant meaning to them. Others will want them to remember an important day or occasion. The mint date and the event celebrated by the coin could be one factor people consider them collectible items.

    Since the 1970s, the individual coins were available in the market every year, but are now available as sets in packages or in special displays. Many collectors say that one reason they are marketed this way was the depreciation of their value starting in 1971. The introduction of the euro may also be a factor.

    There are countries that have produce commemorative coins and used these coins for propaganda. There were monarchs who issued coins to commemorate past or current events and/or celebrations that recognized their authority.

    The half dollar was produced in 1892 to commemorate the Columbian Exposition in Chicago. This was a celebration to mark the 400th anniversary of the expedition of Christopher Columbus and his discoveries in the world.

    During the following year, the first quarter dollar commemorative was introduced to signify the Exposition as well, but it also gave honor to queen Isabella of Spain. She was the one who “back-pedaled” the political agendas on Women Rights.

    The first commemorative coins that were made of silver were introduced in the 1900s. The coins were minted in honor of Lafayette and George Washington. In the following years, the half dollar coin was denominated, and the legal tender commemorative coins were created to mark celebrations rather than historical events. These coins are recognized today as classical sets of special coins of historical events between the years1892 – 1954.

    It was in 1932 that the Washington quarter dollar was released as the United States’ second commemorative coin in its denomination. It was issued for the 200th birth anniversary of George Washington. The coin also continues its circulation as a commemorative coin because of its popularity.

    It was uncharacteristic to circulate a commemorative coin of the 1892 – 1954 era in the United States because the government had not intentionally put them into circulation, (they were not legally approved by the government for public use) so collectors will not pay the premium costs of these coins that are still in the market.

    In 1975, that the Bicentennial quarter was introduced. It became the second circulating commemorative coin in the country, while the silver dollars and half dollars (1776 – 1976) were reissued as a special collector’s edition.

    Many collectors have different agendas when collecting these coins. Some prefer commemorative coins from 1892 – 1954 while most collectors choose the modern editions. They know that these coins have different values depending on the series and/or editions.

    Although there have been different series released, a proposal was submitted to congress that would mark the Lincoln cent for his birth anniversary. No one knows whether or not the 1-cent denomination commemorative coin will be minted.

    The confusing part of these commemoratives that are circulating is the pattern of the denomination. The 1776-1976 commemoratives half-dollar and silver dollar may not be included in collections because of their scarcity. Most of the coins that are circulating are the quarter dollar coins. It should be an interesting development for the proposed circulation of the one cent commemorative coin.

     

  • »Dos and Donts of Coin Collecting«

  • TorontoSEO 11:13 AM on March 11, 2006 Permalink |
    Tags: , , , , , Dos and Donts of Coin Collecting, , , , , , , ,   

    Dos and Donts of Coin Collecting

    Coin collecting is something that takes time to learn. The most important thing to remember is that you are doing it for the right reason – if it is a passion, then it is something worth pursuing.

    Collecting just for profit may work but it usually is not enough in the long run. A person really has to think about this since many people who have tried it for that reason have lost focus and failed.

    Successful coin collectors take a lot of time to learn everything there is to know about numismatics. Good sources of information are magazines, newsletters and brokers who can pass on information and news, when it happens. By using the resources a person can act fast before other collectors who want the same thing get the information first.

    If a person tries to collect without knowing the basics, he will never succeed in this hobby.

    Knowing how to grade coins can also help the collector know the true value of the collection. This knowledge will be valuable if the owner decides to trade for something of greater value or it can prevent scamming and wasting money for something of little value. Be vigilant!

    One of the virtues that coin collecting can teach a person is patience since the collection may take years to complete. Some of the well-renowned collectors in the world have spent many years before reaping the benefits.

    Learning to think like a collector is very important. Being too eager is not good because the collector could be tempted to purchase or trade the wrong coin which could prove to be costly. Think twice about using the information given even if that came from a reliable source.

    Coin collecting can be difficult especially if the person is just starting. A person, more than likely, can’t afford to buy items worth more than $10,000, so it is best to start small and study the market for three to six months so that he can be comfortable before going after bigger prizes.

    Coin collecting is similar to sports – it takes time to excel at it and goals, both short and long term, have to be established. By following the rules and using common sense, the person can become one of many other successful coin collectors.

     

  • »The Verity of US Coin Collecting«

  • TorontoSEO 11:13 AM on March 10, 2006 Permalink |
    Tags: , , , , , , , , , The Verity of US Coin Collecting, , , ,   

    The Verity of US Coin Collecting

    Some people are born to love money; whether they spend it or just collect it, they are simply born to love the way money provides them the kind of gratification that they need.

    For example those people who are coin collectors simply love the sight of coins and many wish to display their collections as art.

    In the United States, coin collecting started as early as 1652. During this period, business people and individuals alike, were known to engrave and distribute their personal coins.

    Some people are so interested in coin collecting that they are more willing to combine various forms and categories. The reason for this fascination for these coins is the very nature of U.S. coins.

    The U.S. Mint carefully crafts U.S coins and over the past 30 years it has minted nearly 300 billion coins.

    When the Articles of Confederation gave consent for the different states to create or manufacture their own coins, the U.S. coin collections grew at an unparalleled rate. That is why in the middle of 1780’s, states like Connecticut, Vermont, New Jersey, New York, and Massachusetts started creating various coins unique to their states. This prompted the start of “rare coin collection.”

    To know more about U.S. coin collecting, here are some of the basic facts that you must know:

    1. It was on 1787 that the primary “federally” approved coin of the U.S. was first made. It was in New Haven, Connecticut where the “Fugio Cent,” the name of the coin, was secretly manufactured.

    2. The U.S. Mint is responsible for manufacturing the U.S. coins. The agency uses bands of metal that are rolled into loops, with the right breadth and measurements. Each kind of coin uses a particular kind of metal. For instance, metal strips that are made of zinc are used to manufacture pennies, while nickels are made of a 25% “nickel metal alloy” and 75% copper.

    For this reason, U.S. coin collecting is further subdivided into categories such as the U.S cent, U.S. nickel, U.S. dime, etc.

    People who would like to start collecting U.S. coins, should learn the intricacies or the hobby and find ways to acquire their first coins.

    The hobby of U.S. coin collecting is not just a wonderful hobby but also a great way to preserve the nation’s culture and history.

     
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