Feb
7
Coin Collecting In The US - The Verity Involved In The Process
Filed Under Collecting | Comments Off
Abhishek Agarwal asked:
There are people who just love money, whether they collect it or spend it, they just love it. It is money that provides them almost everything.
The coin collectors are perfect examples for such people, they just fall in love with coins, and even a look at them will let their minds jump up in joy.
In United States, this coin collecting frenzy was widespread even during 1652. There were business people during this period, who distributed their personal coins.
There were some people who even wanted to combine the various categories and forms. This is only because of their fascinations for the coins that are manufactured in the US.
There have been almost 300 billion coins out in the last 30 years in the US.
The different states in the US were allowed to mint their own coins, and this lead to a situation where the coin collections went up like a forest fire. There were different types of coins for the different states. This was exactly why the ‘rare coins’ came into existence.
Following are the points that will give you a better idea about the coin collecting trends in the US:
1. 1787 was the year in which the “federally” approved government coin came in for the US. ‘Fugio Cent’, as it was called, was introduced, and it was secretly manufactured in the country.
2. The US Mint is directly responsible for the manufacture of any coins in the US. All the metals are rolled up as loops, the measurements are given, and all the coins don’t have the same type of metal, a few of them use a different metal. Zinc is used in case of manufacture of ‘pennies’, and nickel is used in the case of ‘nickels’.
The coins in the US were further subdivided as US dime, US nickel and US cent.
There are a lot of intricacies in the US coin collection, and a person who can travel through all the intricacies can actually establish his collection of coins in the best possible way.
Collecting coins in the US is seen not only as a hobby, but the people there see this as a great way to show their patriotism, and keep the country’s history and culture alive.
BASIL
There are people who just love money, whether they collect it or spend it, they just love it. It is money that provides them almost everything.
The coin collectors are perfect examples for such people, they just fall in love with coins, and even a look at them will let their minds jump up in joy.
In United States, this coin collecting frenzy was widespread even during 1652. There were business people during this period, who distributed their personal coins.
There were some people who even wanted to combine the various categories and forms. This is only because of their fascinations for the coins that are manufactured in the US.
There have been almost 300 billion coins out in the last 30 years in the US.
The different states in the US were allowed to mint their own coins, and this lead to a situation where the coin collections went up like a forest fire. There were different types of coins for the different states. This was exactly why the ‘rare coins’ came into existence.
Following are the points that will give you a better idea about the coin collecting trends in the US:
1. 1787 was the year in which the “federally” approved government coin came in for the US. ‘Fugio Cent’, as it was called, was introduced, and it was secretly manufactured in the country.
2. The US Mint is directly responsible for the manufacture of any coins in the US. All the metals are rolled up as loops, the measurements are given, and all the coins don’t have the same type of metal, a few of them use a different metal. Zinc is used in case of manufacture of ‘pennies’, and nickel is used in the case of ‘nickels’.
The coins in the US were further subdivided as US dime, US nickel and US cent.
There are a lot of intricacies in the US coin collection, and a person who can travel through all the intricacies can actually establish his collection of coins in the best possible way.
Collecting coins in the US is seen not only as a hobby, but the people there see this as a great way to show their patriotism, and keep the country’s history and culture alive.
BASIL
Feb
7
Coin Collecting - What To Do And What Not To Do
Filed Under Collecting | Comments Off
Abhishek Agarwal asked:
It takes a considerable amount of time to learn the art of coin collecting. It is very important to remember that you should coin collect for all the right reasons. It should be your passion, only then will it be worth pursuing.
If you intend on collecting for profit, it might work for the time being, but it will not work for long. This is an important factor to consider, as there are many people who have collected coins for this very reason and have met with colossal failure.
If you wish to be a successful coin collector, you need to take out enough time to learn all that there is to know regarding numismatics. You can get loads of information from sources such as newsletters, magazines as well as brokers who can convey news and information as it happens. If you use your resources correctly, you will have enough time and expertise to act fast and beat the other collectors who are after the same thing. Getting your information on time is very important.
If you are not well versed with the basics, chances are you will not get very far with this hobby.
Knowledge on coin grading is essential to collector who needs to know the real value of a particular collection. This knowledge is especially useful when the collector wishes to trade something for a greater value. It can also prevent wastage of money and scamming for things of lower value. Vigilance is the keyword here.
Patience is one virtue that coin collecting imbibes in all collectors as, sometimes, it takes many years to complete a collection. Many of the reputed collectors in today’s world have waited many years before reaping any benefits.
It is very important to learn how to see and think like a collector. It is not a good idea to be too eager in the initial stages as this can tempt the collector into buying the the wrong coin which can cause immense loss. Always think twice before using any information that is given to you regardless of what the source of information is.
Beginners at coin collection will find it a little difficult in the initial stages. It is likely that the person will not be able to afford items that cost more than around $10,000. Therefore, the best course of action would be to start small and simultaneously study the market attentively for five to six months before getting comfortable about the bigger prizes.
Sports and coin collecting have a lot in common- it takes patience and hard work to excel at it and long and short terms need to be established in order to achieve anything. By using one’s common sense and following the rules, one can become a very successful coin collector who knows the trade well.
PATRICK
It takes a considerable amount of time to learn the art of coin collecting. It is very important to remember that you should coin collect for all the right reasons. It should be your passion, only then will it be worth pursuing.
If you intend on collecting for profit, it might work for the time being, but it will not work for long. This is an important factor to consider, as there are many people who have collected coins for this very reason and have met with colossal failure.
If you wish to be a successful coin collector, you need to take out enough time to learn all that there is to know regarding numismatics. You can get loads of information from sources such as newsletters, magazines as well as brokers who can convey news and information as it happens. If you use your resources correctly, you will have enough time and expertise to act fast and beat the other collectors who are after the same thing. Getting your information on time is very important.
If you are not well versed with the basics, chances are you will not get very far with this hobby.
Knowledge on coin grading is essential to collector who needs to know the real value of a particular collection. This knowledge is especially useful when the collector wishes to trade something for a greater value. It can also prevent wastage of money and scamming for things of lower value. Vigilance is the keyword here.
Patience is one virtue that coin collecting imbibes in all collectors as, sometimes, it takes many years to complete a collection. Many of the reputed collectors in today’s world have waited many years before reaping any benefits.
It is very important to learn how to see and think like a collector. It is not a good idea to be too eager in the initial stages as this can tempt the collector into buying the the wrong coin which can cause immense loss. Always think twice before using any information that is given to you regardless of what the source of information is.
Beginners at coin collection will find it a little difficult in the initial stages. It is likely that the person will not be able to afford items that cost more than around $10,000. Therefore, the best course of action would be to start small and simultaneously study the market attentively for five to six months before getting comfortable about the bigger prizes.
Sports and coin collecting have a lot in common- it takes patience and hard work to excel at it and long and short terms need to be established in order to achieve anything. By using one’s common sense and following the rules, one can become a very successful coin collector who knows the trade well.
PATRICK
Feb
5
Coin Collection Facts - Simple Guide To The Hobby
Filed Under Collecting | Comments Off
Abhishek Agarwal asked:
Coin collection is a wondeful hobby. While some coin collectors enjoy hunting for rare coins, others take it as an investment to make money out of it. As a coin collector if you know something about the grading and evaluation of coins, you will have a better idea about what others may be looking for.
Types of coin collectors
Normally coin collectors collect only some specific type of coins so as to add value to their collection and also to make it interesting to the buyers. Some other collectors do it only for personal satisfaction and are more interested in the uniqueness of coins. Series coin collectors are interested in coin series with yearly marks and design changes. They will not like to miss any coin of their series. The type collectors are people interested in the series of coins which have been changing.
There are ancient coin collectors: these are people interested in coins of the period spanning 650 BC to 450 AD. During this period coins were supposed to be invented and used. These coins are made of bronze, silver or gold. The Romans ruled in this period and these coins feature Roman emperors, their towns and gods, etc.
Token collectors collect tokens which were used in place of the actual currency when the coins were in shortage. Though these tokens might not have been authorized by the government, they were in use in place of the local currency.
Grading of Coins
Coins can also be graded for evaluation purposes. The condition of the coin decides its grading and that in turn will govern its price. It will be useful if a coin collector knows grading coins so that he can safeguard himself from cheating.
The term “uncirculated coins” refers to coins which show no wear or tear, they are also refered to as being “in mint condition”. The MS (mint state) grading is determined by the coin’s shine, visible contact marks or hair lines scratches, and the overall look. The MS grading ranges from MS-60 (implying dull luster) to MS-70 (meaning flawless). While the grade, MS-70, is unachieveable, coins with grades MS-65 or higher will fetch good prices.
The circulated coins are graded less harshly — amount of scratches or dirt on the coins with years of use are ignored while grading. Instead, the quality of physical appearance such as luster of the coin, visibility of design elements, letters and numerals, etc., determine the grade of the coin. Their worth is indicated by the following grades:
AU (about “uncirculated”), EF (extremely fine), VF (very fine), F (fine), VG (very good), G (good), AG (about good), F-2 (fair) and as
P (poor).
Since, these coins had been in circulation unlike the uncirculated coins which were never used, the grading of circulated coins do not drastically affect their value. This is a useful situation for those who need them merely to complete their collection.
The basic laws of economics applies to the world of coins too. The price of a particular coin will also be governed by the usual demand-supply situation, disregarding the grade of the coin. The low supply coins with heavy demand will be expensive compared to those in good supply.
It is the coin dealers who establish the demand, and hence the coins’ worth, by comparing the number of buyers and sellers. As a coin becomes hard to find, the coin dealers raises its price, and more people come forward to sell it.
You must know that grading and pricing of coins usually require a good deal of experience. While there are plenty of tips and guide books about grading and coin evaluations, it is the professional coin dealers who have the final word on the coins’ worth. It may be a good exercise that you grade and evaluate your coins yourself and then talk to some professional dealers to find out why your results are different from theirs.
While the investment and profit part will be always there in coin collections, it can certainly be made to be a joyful hobby. Besides knowing a thing or two about grading will be always useful so that no one can exploit your ignorance.
FELIX
Coin collection is a wondeful hobby. While some coin collectors enjoy hunting for rare coins, others take it as an investment to make money out of it. As a coin collector if you know something about the grading and evaluation of coins, you will have a better idea about what others may be looking for.
Types of coin collectors
Normally coin collectors collect only some specific type of coins so as to add value to their collection and also to make it interesting to the buyers. Some other collectors do it only for personal satisfaction and are more interested in the uniqueness of coins. Series coin collectors are interested in coin series with yearly marks and design changes. They will not like to miss any coin of their series. The type collectors are people interested in the series of coins which have been changing.
There are ancient coin collectors: these are people interested in coins of the period spanning 650 BC to 450 AD. During this period coins were supposed to be invented and used. These coins are made of bronze, silver or gold. The Romans ruled in this period and these coins feature Roman emperors, their towns and gods, etc.
Token collectors collect tokens which were used in place of the actual currency when the coins were in shortage. Though these tokens might not have been authorized by the government, they were in use in place of the local currency.
Grading of Coins
Coins can also be graded for evaluation purposes. The condition of the coin decides its grading and that in turn will govern its price. It will be useful if a coin collector knows grading coins so that he can safeguard himself from cheating.
The term “uncirculated coins” refers to coins which show no wear or tear, they are also refered to as being “in mint condition”. The MS (mint state) grading is determined by the coin’s shine, visible contact marks or hair lines scratches, and the overall look. The MS grading ranges from MS-60 (implying dull luster) to MS-70 (meaning flawless). While the grade, MS-70, is unachieveable, coins with grades MS-65 or higher will fetch good prices.
The circulated coins are graded less harshly — amount of scratches or dirt on the coins with years of use are ignored while grading. Instead, the quality of physical appearance such as luster of the coin, visibility of design elements, letters and numerals, etc., determine the grade of the coin. Their worth is indicated by the following grades:
AU (about “uncirculated”), EF (extremely fine), VF (very fine), F (fine), VG (very good), G (good), AG (about good), F-2 (fair) and as
P (poor).
Since, these coins had been in circulation unlike the uncirculated coins which were never used, the grading of circulated coins do not drastically affect their value. This is a useful situation for those who need them merely to complete their collection.
The basic laws of economics applies to the world of coins too. The price of a particular coin will also be governed by the usual demand-supply situation, disregarding the grade of the coin. The low supply coins with heavy demand will be expensive compared to those in good supply.
It is the coin dealers who establish the demand, and hence the coins’ worth, by comparing the number of buyers and sellers. As a coin becomes hard to find, the coin dealers raises its price, and more people come forward to sell it.
You must know that grading and pricing of coins usually require a good deal of experience. While there are plenty of tips and guide books about grading and coin evaluations, it is the professional coin dealers who have the final word on the coins’ worth. It may be a good exercise that you grade and evaluate your coins yourself and then talk to some professional dealers to find out why your results are different from theirs.
While the investment and profit part will be always there in coin collections, it can certainly be made to be a joyful hobby. Besides knowing a thing or two about grading will be always useful so that no one can exploit your ignorance.
FELIX
Feb
2
I have jar of coins been collecting for about 10 years,would it be worth examining each coin or just cash the?
Filed Under Hobbies & Crafts | Comments Off
Dale H asked:
I have a jar of coins that i have been collecting for about the last 10 years. Would it be beneficial to examine the coins for rarity for someone that does not know much about coins, or just to cash them in. What are my chances of finding something of value. I have noticed many older coins from the 60’s.
JUNIOR
I have a jar of coins that i have been collecting for about the last 10 years. Would it be beneficial to examine the coins for rarity for someone that does not know much about coins, or just to cash them in. What are my chances of finding something of value. I have noticed many older coins from the 60’s.
JUNIOR