Welcome To Coin Collecting 101

Collection of updates and essays and information about coin collecting

Grading Coins

Posted By on November 25, 2022

Coin collecting is not just about having as many coins as possible. More important than the number of coins is the quality of those coins. This quality is measured by the coins’ grade and the grade is measured using a scale from zero to seventy (seventy being the highest point grade). Doctor William Shelby introduced this point scale in his work “Penny Whimsy”.

Here are the classifications of coins according to grade.

  1. “Mint State” Coins

This is equivalent to a value of 60 to 70 in the Shelby’s grade scale. This means that the coin has no blemishes whatsoever. Most of the coins in this category are uncirculated, shiny, new coins, with absolutely no signs of wear.

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Collecting Ancient Coins

Posted By on November 14, 2022

Collecting coins is so much fun! It is both a hobby and a source of income for many. One type of coin that you may want to consider collecting is ancient coins. Many collectors hesitate to buy ancient coins to collect because they can be terribly expensive. What is most important is the uniqueness of these coins and the benefits they provide their collectors.

Here are some tips that should be considered when buying ancient coins:

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The History of UK Coin Collecting

Posted By on November 4, 2022

Money was never been quite so valuable until coin collecting entered the world of the hobbyists.

Since its inception, coin collecting has continuously represented the ancient way of preserving the history of the human race. Coin collecting allows people to protect and conserve their nation’s history. Through this kind of activity, coin collectors allow other people to touch and examine the kinds of coins that ancient people used.

In the United Kingdom, coins are considered one of the most precious relics that the nation has ever produced because most of their coins are considered to be a true representation of the royalty. For instance, U.K. coin collectors would be happy to own the 50-cent coins that were manufactured by the Royal Canadian Mint for the “Golden Jubilee of Queen Elizabeth II.”

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What do you need in your coin collecting kit?

Posted By on October 30, 2022

Coin collecting is not as simple as keeping coins: it may be observed from numismatists or even coin enthusiasts that it is a systematic and somewhat complicated hobby. Certain tools must be employed to ensure both fun, discipline and to some extent, good profit.

Here are some of the essential things that must be included in the coin collecting kit.

  1. Coin Guides

Coin guides should be used, not just by beginners, but by professional coin collectors as well.

Coin guides give tips on how to start, as well as special instructions on how to proceed with the hobby of coin collecting.

They also provide information on coins, since different coins have different ways of grading, pricing, etc.

It is recommended you read guides before doing starting the hobby to avoid making wrong decisions caused by lack of information.

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Taking care of your coin collection

Posted By on October 17, 2022

There are collectors that specifically find classic editions of coins that existed during the period from 1892 to 1954. These coins have marked events or may signify the work of royalty during that period. There are those collectors that prefer the modern series that are very distinct as well. One modern collection is that of the quarter dollars that represent the 50 states of the US. Minting and circulation started in 1999 and will continue until 2008. These are specially made editions available for collectors.

Many collectible coins are made of copper and a collector may encounter problems in maintaining their features and appearance. A person collecting this type of coin should learn how to maintain and take proper care of these expensive collections. Copper coins should be cleaned correctly and must be preserved the same way professional collectors treat their coins.

Professional collectors clean their coins by the process of placing the coins in a container that is airtight. This is a safe way to preserve the features of the coins. Because of the coins’ years of circulation, there is the possibility of a coin accumulating encrustations, coatings, dirt, and other problems on a coin’s face. These accumulations may cause pitting and corrosion to the surface of the copper coin. The corroded portions should be removed properly without making any scratches.

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Avoiding Fraud When Collecting Coins

Posted By on October 17, 2022

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.

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What affects the value of coins?

Posted By on October 17, 2022

When one is just starting in coin collecting, often the first question is: “What is the value of the coin?: and the answer is that the coin will cost as much as you are willing to pay for it and the amount can vary considerably. For instance, a coin dealer’s offer can be much less than a coin collector that certainly wants your coin badly to add in his collection.

The following are factors that can influence the true value of a coin.

  1. Grade or condition of the coin. Your coin will be worth or valued more when it is in good condition. When in a perfect or unblemished mint condition, an “uncirculated” coin will be worth many times more than a similar coin that has been in circulation.
  2. The rarity of a coin is the principal basis for a coins value. Generally, the rarer that a coin is found to be, the higher it is priced. Do keep in mind that rarity has very little influence on the coins age. Chinese coins are a thousand years old normally sell for about ten dollars since there are so many of them; while a “1913 Liberty Head Nickel” can sell for up to or over a million dollars because only five specimens are known to be in existence.
  3. Bullion value. A coin’s precious metal content can determine its value. A platinum, silver or gold coin will not, in general sell for less than the coins value when melted.
  4. Demand. There are coins that are greatly in demand; sought after by many collectors, and if that a particular coin is in great demand the price will be even higher. Even comparatively plentiful coins can mandate higher value when they are popular with coin collectors.
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Coin Collecting as a hobby

Posted By on October 17, 2022

Most people engage in different activities that they consider hobbies. When people consider a particular activity as a hobby, it means that people find that activity pleasurable in that they enjoy collecting different kinds of coins.

In this context, it does not necessarily follow that the coin collector will focus more on the monetary value of the coins. When the focus of coin collecting delves more into the monetary value of the coins than the gratification the collector obtains, it is no longer deemed a hobby but an investment.

History tells us that the main reason other generations collected coins was the value that coins would someday attain. The ancient form of coin collecting was even labeled a hobby “fit for the kings” because ancient coins were so valuable that only the kings were capable of collecting them.

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Collecting Commemorative Coind

Posted By on August 28, 2022

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.

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Collecting Canadian Coins

Posted By on August 13, 2022

In Canada where money the popularity of coins has shown significant increase because the value of the “paper money” tends to deflate as much as 25% to 30% in a short period of time.

For this reason, coin manufacturers in Canada started making different kinds of coins to replace the value that was lost in the depreciation of paper money. Gold continues to thrive in various types of coins and their value continues to increase.

Coins function as solid emblems of a nation’s history. Canada has gained importance by producing Canadian coins serve as a means of monetary exchange and a source of historical enrichment.

Many coin collectors are enticed to try Canadian coin collecting. They know that collecting such Canadian treasures not only offer them remarkable diversion but can also provide them with additional value in the future.

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