Dec
26
Filed Under Business | Comments Off
Christian Okoye asked:
Coin collecting today is still a hobby that many people enjoy. One of the most precious and most expensive collections that anyone can ever have are those of gold coins. The most expensive gold coin ever bought was worth around eight million dollars. This was the American 1933 Gold Eagle. This is why the collecting of gold coins deserves to be called the hobby of kings.
WE all know that Coin collecting is something that dates back to the when coins were first issued for trade. It was only in the Middle Ages that people turned this into a hobby because of the art work and the historical value.
Needless to say, gold coins were one of the oldest forms of money. This was later followed by silver coins. Gold coins were in circulation in the United States from 1838 to 1933. The design was the Liberty Head bust but this was only made until 1907. The design was then changed to the Indian Head and Saint Gaudens motifs and was used until 1933 when the Great Depression began. This prompted the recall of gold coins which makes them very difficult to find today.
Since these are no longer in circulation, the price for one of this rare commodity is quite high. Gold is now used for other things such as jewelry or bars that people retain as an investment.
South Africa minted its first gold coin called the Krugerrand in 1967. This coin has no face value but merely stands as a symbol. It is made of 1 ounce of gold and can be purchased for investment purposes.
Since then other countries also minted bullion coins. Canada made the Gold Maple Leaf in 1979 and Australia made the Nugget in 1981. These two are much more popular than the South African coin because of its 24 carat purity.
A lot of people retain gold today as an investment because they speculate that the demand will cause its market value to increase. Others hold it as a form of insurance should the financial situation become worse. There was a point in time when the more paper money that was made, the higher the price of gold which maintained gold and cash as equal value. After this standard ended in 1971, this enabled government to produce more paper currency without increasing the price of gold.
Most coin collectors just keep them to remember that people once used them Since gold coins can longer be used to purchase merchandise.
HARRY
Coin collecting today is still a hobby that many people enjoy. One of the most precious and most expensive collections that anyone can ever have are those of gold coins. The most expensive gold coin ever bought was worth around eight million dollars. This was the American 1933 Gold Eagle. This is why the collecting of gold coins deserves to be called the hobby of kings.
WE all know that Coin collecting is something that dates back to the when coins were first issued for trade. It was only in the Middle Ages that people turned this into a hobby because of the art work and the historical value.
Needless to say, gold coins were one of the oldest forms of money. This was later followed by silver coins. Gold coins were in circulation in the United States from 1838 to 1933. The design was the Liberty Head bust but this was only made until 1907. The design was then changed to the Indian Head and Saint Gaudens motifs and was used until 1933 when the Great Depression began. This prompted the recall of gold coins which makes them very difficult to find today.
Since these are no longer in circulation, the price for one of this rare commodity is quite high. Gold is now used for other things such as jewelry or bars that people retain as an investment.
South Africa minted its first gold coin called the Krugerrand in 1967. This coin has no face value but merely stands as a symbol. It is made of 1 ounce of gold and can be purchased for investment purposes.
Since then other countries also minted bullion coins. Canada made the Gold Maple Leaf in 1979 and Australia made the Nugget in 1981. These two are much more popular than the South African coin because of its 24 carat purity.
A lot of people retain gold today as an investment because they speculate that the demand will cause its market value to increase. Others hold it as a form of insurance should the financial situation become worse. There was a point in time when the more paper money that was made, the higher the price of gold which maintained gold and cash as equal value. After this standard ended in 1971, this enabled government to produce more paper currency without increasing the price of gold.
Most coin collectors just keep them to remember that people once used them Since gold coins can longer be used to purchase merchandise.
HARRY
Jun
21
Truth Behind Rare Coin Collecting
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Christian Okoye asked:
Nowadays, coin collecting, especially of those coins that are considered rare, is considered to be one of a few hobbies that are not just a mere pastime or leisure activity. Coin collecting can serve many purposes considered typical of this activity.
Coins have long been known as works of art because of the way the manufacturers carefully engrave the designs on the surface. Coins of a particular nation often portray the history of that nation with the engraving of the design on the coin.
Some of us are aware that coin collecting can also be a profitable venture. Rare coins that are extremely hard to find are often valuable and when found can be a good investment. The rare coin collection market in the United States has boosted their sales in recent years from 348% to 1, 195%. According to the U.S. Rare Coin Market, the average price of $1,000 spent by an individual during the 1970s would be valued at almost $57,977 today.
What is the secret behind these rare coins that their value continues to increase with age?
Rare coins were able to maintain even when the economy is unstable. They have been able to stabilize the wealth of the nation by serving as “inflation fighters.”
Experts contend that through these rare coins, the economic wealth of a nation is sheltered from possible harm by functioning as an investment much like “gold bullion”. This is applicable during the times when the value of the paper money continues to depreciate.
Rare coin collecting is not just like any other hobby. The concept of collecting such treasures is considered exceptional by itself and the monetary value can equal its distinctive character.
The rarity of these coins is not constrained by being merely collector’s items but they can also be considered a work of are and just like any work of art, may be priceless.
HOLLIS
Nowadays, coin collecting, especially of those coins that are considered rare, is considered to be one of a few hobbies that are not just a mere pastime or leisure activity. Coin collecting can serve many purposes considered typical of this activity.
Coins have long been known as works of art because of the way the manufacturers carefully engrave the designs on the surface. Coins of a particular nation often portray the history of that nation with the engraving of the design on the coin.
Some of us are aware that coin collecting can also be a profitable venture. Rare coins that are extremely hard to find are often valuable and when found can be a good investment. The rare coin collection market in the United States has boosted their sales in recent years from 348% to 1, 195%. According to the U.S. Rare Coin Market, the average price of $1,000 spent by an individual during the 1970s would be valued at almost $57,977 today.
What is the secret behind these rare coins that their value continues to increase with age?
Rare coins were able to maintain even when the economy is unstable. They have been able to stabilize the wealth of the nation by serving as “inflation fighters.”
Experts contend that through these rare coins, the economic wealth of a nation is sheltered from possible harm by functioning as an investment much like “gold bullion”. This is applicable during the times when the value of the paper money continues to depreciate.
Rare coin collecting is not just like any other hobby. The concept of collecting such treasures is considered exceptional by itself and the monetary value can equal its distinctive character.
The rarity of these coins is not constrained by being merely collector’s items but they can also be considered a work of are and just like any work of art, may be priceless.
HOLLIS
Apr
22
What I Need to Know About Coin Collecting
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Christian Okoye asked:
Are you interested in coin collecting? Have you ever tried collecting rare coins?.I am of the opinion that 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(Knowledge is power). 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.
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.
Finally,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.
MORRIS
Are you interested in coin collecting? Have you ever tried collecting rare coins?.I am of the opinion that 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(Knowledge is power). 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.
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.
Finally,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.
MORRIS
Mar
1
Coin Collecting for Essential Supplies
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Christian Okoye asked:
In the world of coin collecting, the coins themselves are considered as gold, this is why there is a need to protect them from damage. The condition of the coin means everything in coin collecting. Having the right supplies will allow a collector to preserve the integrity of his coin collection. The slightest hint of damage can diminish the value of a coin significantly.
Below some of the supplies which are used in properly handling coin collections:
Gloves
In handling coins, you must be careful not to scratch the coins. The use of gloves (preferably white) will prevent scratches and other kinds of damage to the coin’s surface. Gloves should be made of cotton or plastic.
Coin tweezers
If you not comfortable using gloves, you can use coin tweezers. These are not your ordinary tweezers because their tips are protected with plastic that prevents the tweezers from scratching the coins.
Magnifying glass
While examining coins, you must be able to take a closer look at them. This is where the magnifying glass is most useful. You must be careful in using a magnifying glass when examining the coins. There are magnifying glasses available today that have stands attached to them and the stands allow the collector to use both hands in coin examination to avoid accidents.
Cleaning materials
A mild soap and a soft high-integrity fiber cloth can be used in cleaning coins.
Mats
When examining or cleaning coins, you must remember to put a soft cloth or a mat on the table where you are working. An accidental dropping of the coin can damage it significantly and reduce its value to literally nothing. A mat or a cloth will absorb the impact of the drop and will prevent the coin from being damaged.
Boards
You must be extra careful in displaying your coin collection. Coin boards are used by many to display their coin collections. In the U.S., the map of the United States of America is very popular among coin collectors to display the different quarters of the different states.
Envelopes
When transporting coins, the use of coin envelopes is very practical. The use of these paper envelopes allows a collector to safely transport his coin and put some information about it in or on the envelope itself.
There are other coin collecting supplies such as boxes, holders, folders, but everything points to the preservation of the coins’ condition.Whether a coin is priceless or price-less the right kind of supplies will be the determinant
TYSON
In the world of coin collecting, the coins themselves are considered as gold, this is why there is a need to protect them from damage. The condition of the coin means everything in coin collecting. Having the right supplies will allow a collector to preserve the integrity of his coin collection. The slightest hint of damage can diminish the value of a coin significantly.
Below some of the supplies which are used in properly handling coin collections:
Gloves
In handling coins, you must be careful not to scratch the coins. The use of gloves (preferably white) will prevent scratches and other kinds of damage to the coin’s surface. Gloves should be made of cotton or plastic.
Coin tweezers
If you not comfortable using gloves, you can use coin tweezers. These are not your ordinary tweezers because their tips are protected with plastic that prevents the tweezers from scratching the coins.
Magnifying glass
While examining coins, you must be able to take a closer look at them. This is where the magnifying glass is most useful. You must be careful in using a magnifying glass when examining the coins. There are magnifying glasses available today that have stands attached to them and the stands allow the collector to use both hands in coin examination to avoid accidents.
Cleaning materials
A mild soap and a soft high-integrity fiber cloth can be used in cleaning coins.
Mats
When examining or cleaning coins, you must remember to put a soft cloth or a mat on the table where you are working. An accidental dropping of the coin can damage it significantly and reduce its value to literally nothing. A mat or a cloth will absorb the impact of the drop and will prevent the coin from being damaged.
Boards
You must be extra careful in displaying your coin collection. Coin boards are used by many to display their coin collections. In the U.S., the map of the United States of America is very popular among coin collectors to display the different quarters of the different states.
Envelopes
When transporting coins, the use of coin envelopes is very practical. The use of these paper envelopes allows a collector to safely transport his coin and put some information about it in or on the envelope itself.
There are other coin collecting supplies such as boxes, holders, folders, but everything points to the preservation of the coins’ condition.Whether a coin is priceless or price-less the right kind of supplies will be the determinant
TYSON
Feb
8
Basics of Coin Collecting
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Christian Okoye asked:
Coin collecting is different from money hoarding. Collecting coins as an art form can be traced back to the 14th century. Today, people all over the world are collecting coins. Some collect it for their value, some just like the sheer fun that they get from getting their hands on different coins.
Coin collecting is said to be the “Hobby of the Kings.”
If one is interested in making coin collecting a hobby, he can very well do so. It is a hobby which does not require a certain skill and it can be done by almost everyone.
There are many different kinds of coin collectors.among which are:
Those that do Informal coin collecting
Most coin collectors, especially the children, start out as informal coin collectors. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods without any intention of being serious about it.
Inquisitive coin collecting
Once the informal coin collector starts noticing the details of the coins, he becomes an inquisitive coin collector. This kind of coin collector won’t bother much into spending money to get coins. He merely wants to appreciate the coins. Soon, he will start to put them in containers or albums.
Advanced coin collecting
An advanced coin collector will collect coins with a specific target in mind. He may want to collect coins from a certain nation, or a certain time period.
There are many tracks which coin collectors pursue when engaging in their hobby. Here are some of the ways one can use in collecting coins:
Coin collection according to nation
Many coin collectors would want to collect coins from a certain nation during a certain period of time. This kind of coin collection lets the collector travel the globe through the coins. People may want to collect coins from countries they had visited.
Historical coin collection
Another way of collecting coins is by taking in mind history. Many coin collectors engage in collecting coins during a certain period in history like wars or declarations of independence.
Error coins
There are people who find collecting coins with errors exciting because these kinds of coins are rare nowadays.
There are many ways to collect coins and each way is as fun as the other. One must feel the hobby first before he decides whether to stick with it or not. Coin collecting can require certain amounts of money and the collector must be wise in engaging in such a hobby.At lest to ensure you know what your doing.
LINDSEY
Coin collecting is different from money hoarding. Collecting coins as an art form can be traced back to the 14th century. Today, people all over the world are collecting coins. Some collect it for their value, some just like the sheer fun that they get from getting their hands on different coins.
Coin collecting is said to be the “Hobby of the Kings.”
If one is interested in making coin collecting a hobby, he can very well do so. It is a hobby which does not require a certain skill and it can be done by almost everyone.
There are many different kinds of coin collectors.among which are:
Those that do Informal coin collecting
Most coin collectors, especially the children, start out as informal coin collectors. They are laid-back collectors which do not have a specific goal in collecting coins. They might collect coins from different countries or from different time periods without any intention of being serious about it.
Inquisitive coin collecting
Once the informal coin collector starts noticing the details of the coins, he becomes an inquisitive coin collector. This kind of coin collector won’t bother much into spending money to get coins. He merely wants to appreciate the coins. Soon, he will start to put them in containers or albums.
Advanced coin collecting
An advanced coin collector will collect coins with a specific target in mind. He may want to collect coins from a certain nation, or a certain time period.
There are many tracks which coin collectors pursue when engaging in their hobby. Here are some of the ways one can use in collecting coins:
Coin collection according to nation
Many coin collectors would want to collect coins from a certain nation during a certain period of time. This kind of coin collection lets the collector travel the globe through the coins. People may want to collect coins from countries they had visited.
Historical coin collection
Another way of collecting coins is by taking in mind history. Many coin collectors engage in collecting coins during a certain period in history like wars or declarations of independence.
Error coins
There are people who find collecting coins with errors exciting because these kinds of coins are rare nowadays.
There are many ways to collect coins and each way is as fun as the other. One must feel the hobby first before he decides whether to stick with it or not. Coin collecting can require certain amounts of money and the collector must be wise in engaging in such a hobby.At lest to ensure you know what your doing.
LINDSEY