Coin Collecting on a shoe-string budget

Probably everyone at one time or another has collected coins. Some people save old wheat pennies they find in change and throw them in a jar. Other people collect state quarters, and some others collect certain coins like nickles or dimes, and try to build a complete collection over time. A lot of folks think coin collecting is the hobby of king's and truthfully, it's often called that. A king may be able to build a giant collection of coins, but I promise you, that the small collection a young boy has that may only be worth a couple of dollars, is worth just as much to that boy as a King's coins are worth to him.

I can tell you right now, anyone can collect coins and you don't have to be rich. In fact I have quite a large coin collection, and I have had a very low paying job all my life. There are a lot of ways someone can build a great coin collection over time, while still paying the bills.

Coins are so neat looking, I remember when I was a young boy, my grandad would go upstairs and open a safe we had, inside was a metal drawer containing some old Morgan and Peace Silver Dollars. My grandad would let me sit and play with the coins often. I would hold one by the edge on the table top and flip it on the side with my finger and the coin would spin wildly around on the table like a toy top. The coins were frosty silver or whitish colored and were beautiful to look at, they were large and heavy, not like the little coins we have today. I often wondered how many folks actually carried these things around in their pockets everyday, it only took a few of them to weigh quite a lot.

After my grandad passed away back in 1969, my dad sold the old silver dollars, I don't think he really wanted to, but my grandad had left the family farm pretty deep indebt, so dad had an auction and sold about everything except our house and the barn, to pay off the huge bills. It wasn't too long after that when dad got bitten by the coin collecting bug. At first it wasn't coins but paper money that got dad started. I remember dad saw an ad in the back of some magazine, where a guy was offering to pay $2 for every dollar bill you sent him that had a certain treasurer's name on it, that name was: " Joesph W. Barr ". My dad looked in his wallet at some dollar bills he had, and sure enough he had one that had the signature " Joesph W. Barr " on it. Dad took the dollar from his wallet and kept it in an envelope in his old roll top desk, and after checking his money for several days afterwards, dad found some more of them. Sometime later dad mailed the dollar bills to the address in the magazine ad, and sure enough he soon got a check for the dollars plus an extra dollar each. Dad continued searching and sending in them " Joesph W. Barr " dollar bills for awhile, then after a period of time, the guy no longer was accepting them.

Dad then started buying a few Indian head cents and some buffalo nickels. Then as he got older and money seemed to get a lot more tighter, dad quit buying coins and turned to a new hobby, doing sweepstakes. But by this time, I was hooked, I just loved the look of the old coins, the silver ones and the old copper large cents, they just seemed so neat compared to the boring coins of everyday use. Now as I am writing this article, I stumbled across an interesting article about the " Joesph W. Barr " dollar bills from the 'American Numismatic Association' it said, the following: "At one time, it was speculated that the notes signed by Treasurer Joseph W. Barr would eventually hold a high numismatic value since he was in office for only 23 days in 1968-69. However, during that period, a total of 484 million notes were produced with his signature. The high quantity produced dictates that the notes will never be considered rare in our lifetime. Interestingly, in 1995, numismatic author Alan Herbert stated, "A $1 Barr note deposited in an interest-bearing account in 1969 would have been worth over $4.00, figuring 6% interest compounded annually. A circulated Barr note kept in a safe-deposit box for 26 years is worth $1 today."

So that explains why that guy probably quit buying the " Joesph W. Barr " dollar bills, it seemed they might of been collectible for a little while, but they just never caught on. Today you can still buy them on eBay and other places, sometimes for slightly more than $1.00. Oh well, it is something that has stuck in my mind every since I was a little boy, I will always remember dad checking his wallet for " Joesph W. Barr " dollar bills. Now as I wipe the tears from my eyes, yes I am sad to say dad has been gone a few years now, and I still miss him very much, especially when I sit here alone and think about the times we spent together in the years gone by, oh well, at least it's always great memories when it comes to you, dad.

Now as I regain my mental composure, if I ever had one, I want to say that I never lost the desire to collect coins. And as I got old enough to work full time, and live on my own I started and built a fairly large coin collection. I didn't have much money as I never went to college or trade school, and I have always had a job working as a laborer, so I had to fine ways that I could build up my coin collection cheaply.

One day, I was looking in the back of a Coin collecting magazine that I had purchased at a local news stand, and I found an ad where you could join a coin collecting approval service. They would send you certain coins once a month, and you could select the ones you wanted to buy and keep, and if you didn't want them all, just mail the others back to them, and the next month they would send some other coins for you to examine. What made this program better than the other approval services I had often seen was, you could tell them what type of coins you were interested in, and what price you were willing to spend monthly. I selected miscellaneous U.S. coins, everything from old large cents from the 1800's to silver mercury dimes and buffalo nickels etc. And I chose to only spend $20 a month, for me this was perfect and for about a year or more I stayed in the program and over time I got a nice bunch of coins from them, then something happened and the company folded or went out of business, as I never received any more coins from them and I no longer saw their ad in the magazines.

Overtime I discovered other cheap methods to aquire some nice coins, one of the methods I still use, is something that anyone can do to start building a nice coin collection. Just start searching and examining your pocket change, I still find wheat pennies and silver war nickels, and many pre 1960 nickels, and sometimes a silver coin in pocket change. One time about two years back, I was at a local store and got some change back, I noticed two of the quarters I received looked kinda white in color, examining them closely after I got back home, I discovered they were both pre 1964 silver Washington quarters. I figured somebody must of needed money to buy some cigarettes or milk or something, and must of used some of their old coins, I was just lucky enough to had been there at the right time and place to get them in my change.

One place to find a lot of nice coins is to go to different banks
and buy rolls, search through them carefully, and you will be surprised of the neat finds you may come across, plus just add a few out of your pocket change to replace the ones you want to keep from the rolls, and you can turn them back into a different bank for some different rolls of coins to search through.

Another place that is fairly good for finding some rare coins is at local flea markets, be careful though as many of the folks at these places are very aware of a coins value, and they often ask for much more then what the coins are worth. Read up on the coins you are interested in buying, or better yet, take along a pocket coin price guide with you when you go to buy coins, it's better to be thrifty then foolish.

Anyway, now after collecting coins for fun over the years, I have almost every Lincoln cent that was made from 1909 up to present, and I have every Jefferson nickel from the first one that was made in 1938 to present, and I have a nice sized wooden chest full of miscellaneous U.S. coins, including silver dollars, mercury dimes, buffalo nickels, Large Cents and many more unique and rare coins. I figure the coins will make a nice gift someday, something to leave to my daughter and her children, and maybe I can spark that fire in them, that my dad started in me, the joy of coin collecting. So start checking your pocket change today, you just never know what rare finds you may come across.

There are several different types of computer software that are made for coin collecting. One program that stand's out is ' Coin Collector Professional ', it is made for any coin collector, from novices to professionals, and it cost under $20. ' Coin Collector Professional ' may be downloaded and tried for free at this website address:

http://www.rb59.com/ccp

By Robert W. Benjamin

Canadian Coin Collecting: Pleasures Vs. Treasures

Image via WikipediaIn 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.

So for those who wanted to start collecting Canadian coins, here is a list of some ways to get you started:

1. Do your homework

Like in any venture you must do your homework before you start collecting coins. Try to research how Canada manufactures their coins.

Learn the history of coins and how they may offer great opportunities to earn a profit and at the same time be an enjoyable hobby.

2. Finders keepers

To start the ball rolling, try to get as many coins or tokens as you can obtain without having to spend a great amount of money. Your parents or your grandparents may have some coins that they kept because they did not hold any monetary value at that time.

3. Use some guides

Coin collecting is not a complicated activity but it is not that easy either. You would likely need some references that will guide you in choosing the kinds of Canadian coins to collect.

You can refer to “Haxby’s Coins of Canada” or other brochures that will provide you with adequate information regarding Canadian coin collecting.

4. Enjoy and have fun

The idea of coin collecting is not to get the most expensive and the rarest coins that you can find. What matters most is that you enjoy what you do and that you are amazed by the kinds of coins that you are able to obtain.

Coin collecting may differ from one place to another but Canadian coin collecting is sure to give a hobbyist great pleasure and not just mere treasures.

The Coinage History of U.k. Coin Collecting

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.”

Facts about UK Coin Collecting

Unlike in the U.S., coin collecting in U.K. uses different terms in categorizing the kinds of coins that are collected. For instance, in the UK coins that were circulated from 1971 to 1981, the term “new pence” was used to differentiate them from the so called “ancient pre-decimal pennies”.

By the year 1982, experts felt the need to change the word “new” into a more concrete characteristic that would denote the value of the coin as well. Therefore, the terms “two” or “thirty” were used as well as other terminologies that would indicate the coins worth.

After a year, the “two pence” or the “2p” coins were so common that the coin collectors had very little demand for them so the Royal Mint continued to issue the “2p” coins but only in sets that were exclusively distributed to coin collectors. There are only 20 “2p” coins that still bear the “new pence” wording on the reverse side in circulation and new coin collectors who wish to collect these coins will have difficulty in finding them.

In line with UK history, the UK coin collecting has undergone many changes. The very first change was the “decimalisation” of the coins. With the inception of the “decimal coinage,” the English coinage system was established on relationships that indicate the new value of the ancient coins. For example, the coin that used to be known as 2 halfpence is now converted into 1 penny, while 20 shillings is equal to 1 pound or £1.

UK coin collecting is, indeed, not just mere realization of a hobby but a concrete representation of what was transcribed in the history of UK.

Design Types of US Coins and Coin Collecting

Coin collecting
is a fun hobby that anyone who has the time can do. A coins history and its development can be learned by collecting them.

At one point in time, between 1838 and 1933, the United States issued gold coins for circulation. The Liberty Head bust was used as the design until 1907. The design was then changed to the Indian Head and Saint Gaudens motifs until 1933 when the Great Depression started. This prompted the recall of the coins which makes it very rare to find any of them today.

The most valuable coin in the world is the 1933 Double Eagle. This was a $20 gold coin that was made in the 1800s after the California gold rush. This coin was not allowed to be used in the 1930s and when this coin was auctioned in 2002, it sold for nearly eight million dollars.

Since gold coins are hard to find, most collectors select other coins.

One type of collection you might consider is the one made up of coins that are flawed when the coin was minted. If you can find a coin with a misspelled word, a wrong date, off-center characteristics, or double-punched marks, these coins are valuable. Such mistakes can increase a coins value from $50 to a $1000.

Coins that were only issued or circulated for short period of time also make good collectibles.

A coin collection is at its best if it is focused on a certain coin. A collector can choose from pennies, nickels, dimes, quarters and dollars.

Another way of collecting is disregarding the types of coins but concentrating on a certain time period. Coins have different mint marks and collecting those that were struck in the same location can also be interesting. The important thing for hobbyists is to stick to the collection until it has been completed.

For a good start subscribe to a coin publication such as Coin World or Coinage Magazine for information on the types of coins that you might want to collect. The internet or a local coin shop can also help expand the search for those coins that cant be found in your locale or out of state.

Building a coin collection will take a long time – months or even years. The United States has produced so many coins that it is hard to keep track of them. By deciding on the coin(s) you want to collect, the challenge to complete that collection begins.

How to Earn your Coin Collecting Merit Badge

Image via WikipediaThere is more to coin collecting than just keeping coins. There is something at stake for those who make an effort to know what they are collecting: the Coin Collector’s Merit Badge.

A person who wants to acquire a merit badge must prove himself to be someone who knows a lot about coins.

Here are some of the things that a coin collector must know in order to earn the Merit Badge.

1. The Grading Scale

Merit badge aspirers must be very knowledgeable about the different grades of coins. They must master how to assess coins and categorize each coin as:

- Poor
- Fair
- Good
- Very good
- Fine
- Very fine
- Extremely fine
- Uncirculated.

They must also present five examples for each of the categories given above.

2. Coin Terminologies

Coin collectors must familiarize themselves to coin terms such as “encapsulated” coins, “proof” coins or legal tender to get the merit badge. They must be able to determine if coins are “buzzed” or “whizzed”.

They must also show competency in explaining the following:

- Clad
- Date set
- Observe
- Reading
- Reverse
- Type set

3. Coin Storage

For a coin collector to achieve a merit badge, it is important that he knows how to take care, store and preserve coins.
Coin collectors must be able to demonstrate thorough knowledge in coin collecting by showing the councilors different methods of coin storage. It is expected that the advantages and disadvantages of the methods will be provided as well.

4. Coin Anatomy

Knowledge of the parts of the coins will give important information. That is why coin collectors who want a merit badge must know where the mint marks are located in various coins and they must also know where to look for the initials of the coin designer.

5. Miscellaneous things about coins

The councilors will be very pleased to hear stories about what you have learned about coins. These recollections may come from reading coin journals, attending workshops or seminars, joining a coin collectors’ club, or visiting mint facilities.

It is also expected that coin collectors know a lot about coins from other countries as well.

6. Counterfeit coins

A coin collector must have a perception of whether a coin is authentic or counterfeit.

Reading coin guides or interviewing personnel from mint facilities will be a help in this situation.

After knowing these things, you are now equipped with the knowledge needed to be worthy of the coin collectors’ merit badge.

Coin Collecting Goes Online in Unique Coin Trading Forum for Coin Collectors

Image by oceandesetoiles via FlickrToronto, ON May 18, 2007 - As the old saying goes, ‘a penny saved is a penny earned.’ Depending on the age, condition and rarity of that same penny - it could prove to be worth a lot more.

It is generally believed that coin collecting began in the fourteenth century. Today, it is considered a very competitive sport among devote coin collectors and coin traders. Coin collecting has become such a huge industry in the United States, each year one week in April is noted as National Coin Week.

This year’s event ran from April 15 - 21. The American Numismatic Association (ANA) sponsors this annual event as a way to increase general public interest in coin collecting. A coin drop kicks off the week long festivities and collectors are encouraged to put one of their collectables into circulation in the hope that the person who receives it will become a rare coin collector once this treasure has been found.

The art of coin trading is quickly modernizing and is making the move on-line. One unique site, Coin Trading Online, on the web at connects buying collectors and sellers in an Internet forum for discussion and trading of rare and precious coins from around the world.

Each collector has a different approach to coin collecting - some try to collect nickels or pennies from each year as far back as possible while others focus on various special collections issued by the US Mint or other providers of currency. For many coin collectors, coins can become a profitable investment
.

Silver Coin Collecting - Hobby of Kings

It is in human beings nature to accumulate things but only collectors make it their avocation. One man's junk is another man's treasure.

Coin collection is a serious hobby for many people worldwide. silver coin collectors can start in childhood but only in ripe old age they comprehend how profitably they invested their money. There are different reasons for people to start their collections and we call them differently: hoarders, who gather whatever silver coins they can get hold of, investors, whose common reason for coins purchase is an investment; and inheritors, who acquire or inherit coins from another person.

Modern silver coin collecting is generally believed to have begun in the fourteenth century in Italy (known as the “Hobby of Kings”). European princes, kings and nobility used to collect ancient silver coins. They were attracted by the mystery and history of ancient Greece and Rome. The 1st denarius of Ancient Rome was made of silver. Why silver? Throughout the history, silver bullion has served as a primary monetary metal, because it is divisible, durable, convenient, has utility value.

In Russia the collecting of coins began in Peter the Great's reign. Silver money in Old Russia was coined in four counties: Moscow, Tver, Novgorod and Pskov. Nowadays of all this money only 340 Old Russian silver coins are known to collectors.

Coin collectors begin by saving coins they receive in circulation but find interesting. Over time their interest may increase; started as a hobby, their coins can turn out to be an astounding collection.

What Affects the Value of a Coin ?

Image via WikipediaWhen just beginning in coin collecting, often the first question is: “What is the value of my coins?: and the answer is that the coin will cost as much as you are willing to pay for it and the amount can vary greatly. For example, a coin dealer’s offer can be considerably less than a coin collector that really wants your coin badly to add in his or her collection.

Here are some factors that go into finding 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. What is the 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.



4. Coin Bullion value. A coin's precious metal content can help determine its value. A platinum, gold or silver coin will not, in general sell for less than the coins value when melted.



For example, “1916 D dimes” are much more common than the “1798 dimes” yet in spite of this, “1916 D dimes” sell for so much more because there are many more individuals collecting 20th century dimes than 1700 dimes.

Here’s how you can determine the approximate value of your coin:



1. Properly, accurately, and correctly recognize and classify your coin, and know the to place value on that coin. You can do this successfully by examining your coin in a catalogue or online with the “coin price guide”; this will give you an idea of the going rate and price of your particular coin and you can determine the approximate value of your coin.

Everyday coin values are changing; so you need to use a “coin price guide” that is updated on a daily basis to obtain the current coin value. Look at online sites that offer step by step guidance on how to recognize your coin the proper way.



2. Grade your coin based on your thorough observation and examination of its current condition.



3. Consult coin catalogues for a list of retail prices in or estimates of your coins retail value. “A Guide Book of United States Coins”, popularly known as "The Red Book" to coin dealers and collectors, provides information on retail coin prices for US coins and is available in libraries, coin shops and bookstores. “The Standard Catalog of World Coins” (in volumes) is a guide commonly used by coin dealers and collectors as well, to provide information on world coins and is available in many public libraries.



You can also check current coin prices by basing it on the actual dealer coin price found in magazines and newspapers or online auctions such as Yahoo, Coin World, eBay or Teletrade.

Always keep in mind that you are not collecting coins primarily for money; you collect for enjoyment and self gratification, and profit is to be last consideration. The plain fact that a certain coin does not have a large monetary value, does not necessarily suggest that it is no longer interesting or fascinating or that it must not be included in your collection.

Each coin will have a certain interest in itself, regardless of the condition that it is in and regardless of its monetary value. There will always be a certain characteristic that will draw you to that particular coin; so when it does, then you should have it in your collection. Good luck!

5 Reasons to Buy and Collect Certified and Graded Coins

by Robert L Taylor, JD

Why should a coin collector and investor buy and collect professionally graded and certified coins? Commonly called “slabs”, they are housed in a protective plastic holder. There are many companies – over a dozen are less than 2 years old – which will put your coin in a slab after Certifying that it is Authentic, and assigning a Grade to the coin. The first reason for buying and collecting Certified and Graded Coins applies to all of these companies. However, the most important reasons apply only to the Top Four companies: PCGS, NGC, ANACS, and ICG.

Reason No 1. To Protect Your Coin from Damage.
Visible Damage, which includes anything from finger prints/oils to being stepped on. More importantly, Environmental Damage, including such things as exposure to the air, or the wrong kind of air, chemicals in the air, and touching other objects (e.g.: certain plastics, liquids, food) and other coins, which will change the appearance and even structure of the coin. Damage causes loss of Value, which means Your Investment. A slab is an air tight container, and its purpose is Protection.

Reason No 2. To Establish Authenticity.
You want and need to know that your coin is not only the Real thing, but that it has not been altered (changing a mint mark - fraud) or changed, for example by cleaning, polishing, changing the appearance or surface of the coin, in any way that would render your coin unfit to collect. If it is Unfit to Collect, there won’t be many Buyers or Sellers. Many coins graded by lesser companies end up getting Rejected by one of the Top Four for these reasons.

Reason No 3. To Establish Identity.
Is that 1909 Lincoln penny a VDB? Did you overlook the “S” mint mark. Is it a Type 1 or Type 2? These little identifying marks can mean the difference between a $20 coin and one worth $35,000. We all make mistakes and overlook or miss, mint marks, details, and certain other identifying factors which make up “Varities” of each coin. It is the professional’s duty to look for, and establish these things to determine a coin’s true Identity.

Reason No 4. To Establish the Coin’s Grade.
A coin’s Grade is what determines its Value. You want Good Value when you Buy the coin. You want to get what you pay for (or more) and not get cheated. When you get ready to Sell or Upgrade, you want to get the most for your coin. You have to Know what your coin is Worth! The Grade is always an Issue when Buying and Selling a Collectible Coin. Having the coin Professionally Certified and Graded virtually eliminates this Issue, and the Arguments. This is Your Neutral Third Party.

Reason No 5. Trust and Credibility.
The Top Four companies are Consistent, Reliable and Trustworthy. They have Established and Respected Reputations. Their Standards are the Highest and the Best. You are taking a Risk when buying a certified and graded coin from any other company. When you Sell a Certified and Graded Coin, it will speak for you. The reputation of the Grading Company will firmly establish the Grade of the Coin. This translates into the Value or Worth of the Coin.

It is possible to buy and sell a coin that is Certified and Graded by one of the Top Four, sight unseen, and know exactly what you are getting. From a description of the coin (e.g.: 1903 O, MS66, NGC, Morgan #034), you know what you are buying, and what to expect. It always helps to have a little description of its appearance, such as “white hot” or “slight reverse toning”, since there is one limitation to selling a Certified and Graded coin sight unseen: It is still possible to buy an ugly coin. But that is why we have scanners, fax and email.

Therefore, as a Coin Collector and Investor, always collect Certified and Graded coins by one of the Top Four. It is the most reasonable way to verify authenticity and identity of every coin in your collection, as well as to establish a reliable Value. Every source of prices for any coin, be it a yearly book, magazine, a weekly or monthly newsprint; all base their prices on the Grading Standards of the Top Four grading companies, which strictly follow the ANA (American Numismatic Association) guidelines. If the Grade of your coin does not measure up to these Standards, then you are only guessing at the Value.

Collect Rare Coins - a Dummies Guide

Most people are born collectors. Whether its stamps, baseball cards, soft toys or even vintage automobiles, you can bet that if its been made, then its been turned into someone's collection. Of course some items are more valuable than others, making the act of collecting them more attractive to people. These items may start off life as collector's items, but very often they begin life as inexpensive commodity items that become increasingly more valuable as they get older and rarer. So it is with rare coins. Most rare coins were, in their day, were readily available but as they got older they fell out of circulation, or the materials they were made from became more valuable - like gold.

Today, if you like to collect rare coins, you will find that this particular hobby, can be rewarding both in terms of satisfaction and in a monetary sense as well.

Don't think, however, that you have to be rich to collect rare coins. New types of coins are made every year and some are re-introduced years after they originally appeared, so focusing on a particular time period and location is important. Like any hobby, researching the background and educating yourself to the history and significance of the items in your collection can greatly add to your satisfaction. You should make use of printer material as well as the internet to research your coin collection, and this can help you decide which coins to collect, and also the best places to obtain them.

You don't have to limit yourself to on-line resources either. There are many good coin publications such as Coin World or Coinage magazine which are written and produced by like-minded hobbyists and leading experts in the field. You should also seek out the help of local coin sellers, either shops, or if your budget allows, specialist dealers, or even auction houses.

Also, just like photography and many other hobbies, collecting rare coins has brought about the growth of many specialist coin collecting clubs and societies. Its worth checking your local Yellow Pages, or on-line directories to see if there is one near you, or why not start one. You will find that the contacts gained from like-minded collectors can greatly help you seek out those elusive items to that you are seeking. You may also be able to swap coins with fellow members, or even club together to buy particularly rare coins that you couldn't afford to buy as an individual.

Older coins are generally worth more, but if new coins are made of gold, for example, then they can be just as valuable as the antique ones. This is because gold has recently seen a surge in value and now exceeds $1000 an ounce. Coins such as Krugerrands, while not rare, are certainly very valuable items in today's marketplace since they are mad of solid gold.

When your collection is complete, if it can ever be complete, then you will want to show it off to its best advantage. You should take time to source attractive display materials such as folders or albums. You might want to consider displaying them in, say, a local museum or Government building if they are of particular interest.

Always keep your coins well cleaned, but do take care, not all materials are suitable for this task. You can usually clean them well by soaking them in vinegar or lemon juice. These remove dirt and grime but are non-abrasive so will not damage the surface. Afterwards, they should be air-dried or patted dry with a soft cloth. Only polish the if you can be absolutely certain that the surface will not be damaged. Some coins scratch very easily and a worn coin will sometimes be worth next to nothing.

So, there you have it, a few points to start you off on your new hobby. Collecting rare coins can be a very rewarding hobby. Not only can you teach yourself a lot about history and materials for example, but you can also end up with a very valuable as prized asset to boot.

What Is Collecting - Is It A Hobby Or An Obsession?

Image via WikipediaPeople collect, amass, store and hoard just about anything. Some are put up for display (like fine art), yet, others remain in attics and basement, sealed away forever. People collect just about anything including: marbles, coins, political memorabilia, cookie jars, autographs, sports memorabilia, jewelry, Pez dispensers, snow globes, stamps, vinyl records, sports cards, comic books, toys, ceramics, jewelry.... why the list is endless.

People have always collected something either as a hobby or an investment. In fact, one of the first American numismatists began collecting coins in 1817 and it was a collection of American cents from each year. But, coin collecting has a history going back to ancient times when the ancient Romans were interested in and collected Greek and Roman coins.

There have been many famous people who have collected one thing or another. It is reported that a certain U.S. attorney has amassed a collection of more than 200,000 railroad nails and a Russian countess collected bedpans that had previously belonged to rich and famous people. King Louis XIV of France thoroughly enjoyed his daily visit to the French Royal Coin Collection, noting that he could 'always find something new to learn.' In addition, actor Buddy Ebsen, who portrayed the loveable hillbilly Jed Clampett, was fond of collecting ancient coins. The flamboyant rock star Freddie Mercury, of the band Queen, was an avid stamp collector as a boy. Many famous musicians have huge vinyl record collections, including Peter Buck (R.E.M.), Peter Wolf (of the J. Geils Band), and Thurston Moore (Sonic Youth), just to name a few.

Many collecting hobbies have "sub genres." For instance, collecting vinyl records can be divided into any number of specific categories. One could collect specific genres of music (Big Band, Jazz, Classical, etc.) or be partial to a particular record label such as Capitol, Reprise, RCA, Columbia and many others. Some may also collect 45's, picture discs, record sleeves, colored vinyl records, picture discs....well, you get the idea. It is well known that famed pop artist Robert Crumb (who designed the famous album cover for Janis Joplin's "Cheap Thrills" LP) was keen on collecting 78 rpm records and had amassed quite a collection.

Maybe you know someone who collects Pez dispensers. They may have famous celebrities, cartoon characters, specific colored ones, and different years of release and so on. Comic book collectors could also collect a specific type of comic, like super heroes, Archie comics, adult comics, Disney comics or even black and white comics from years gone by.

But, exactly why do people collect? They could gain a measure of satisfaction and pleasure from simply displaying the objects they collect. Sometimes, it is the nostalgia bug that compels people to collect items from a specific era. It could be an item that is associated with their childhood, a famous person or a world famous event. Some collect because of the intrinsic value of an item, and the fact that the item may be desirable to others and can command a profit if they sold it. An item could also have a specific provenance that could compel interest.

Now, is collecting an obsession or some form of "pack rat fever?" The Webster's dictionary defines the word collect to mean "to gather (stamps, books etc.) for a hobby." A collectible is something "that can be collected, suitable for collections; as by a hobbyist-any class of old things, but, not antiques, that people collect as a hobby." It further states that a collector is "a person who collects stamps, books, etc. as a hobby." Products are also manufactured with "collectibility" in mind, such as "limited edition" items like vinyl records, coins, art prints or even cookie jars.

Moreover, the collectible's market has expanded in recent years and fueled by annual price guides, books on the subject, television shows, collectible conventions and Internet auction sites; the collectible's market is now a global phenomenon. There are also professionals who specialize in a certain market and they share their expertise and help to even value these collectibles. There is a science of sorts in how people "grade" certain collectibles (i.e., mint, excellent, fair etc.) and most of the time condition is paramount. All these elements drive the market and help create a desirability factor for specific products and items.

But, the one element missing from the dictionary definition of "collecting" is the drive and passion that people may have for whatever they collect. So let's go a few steps further with our definition of "collecting." Let's define it as: The art of acquiring items or products that you are specifically passionate about and want to retain, either for monetary gain or personal satisfaction. Let's explore this definition in detail.

Is there an art to collecting? There certainly is. One must know where to find exactly what it is that they are seeking. Let's assume you collect vinyl records. Is it best to place an advertisement in a trade publication, local or national newspaper, shop online, or pursue the rummage/garage sale methods? What about going to the "record conventions" that are held in major cities all over the country? Is that the best avenue to pursue? There is an art (some call it a science) to knowing where the best place is to find whatever collectible that you may be looking for.

Furthermore, in the dictionary definitions of collecting, a key term is missing, passion. There is a direct correlation to the drive and motivation a person feels and how successful they may be in acquiring their collectibles. This is a very important element, the enthusiasm a person has, the passion, is what makes whatever they may be collecting, an enjoyable experience. And, obviously the more they put into collecting, the more that they will get in return, not only in monetary terms, but, simply put, the more fun they will have pursuing their hobby.

So next time you shake you're your head at your spouse, friend or family member and call them a "pack rat," remember that they are not only passionate about what they are doing; but actually find a great deal of excitement and personal satisfaction in doing what they are doing. It is one of the most rewarding and pleasurable things a person can do.

Find Out Why Coin Collectors Love Three Cent Nickels

Shortly after the United States Civil War there were two different three cent pieces in circulation. You had silver three cent pieces and nickel three cent pieces. And during this post Civil War period, these three cent pieces were actually from silver and nickel. This article focuses on the three cent nickel.

Today in the United States we do not have many different kinds of coins in circulation. We have pennies, nickels, dimes, quarters, half dollars and dollar coins. But, previously in American history there were many more different denomination of coins in circulation. One of these coins were nickel three-cent pieces.

In 1865, however, the US Mint started to produce nickel versions of the three cent piece. These nickel three-cent pieces were 75% cooper and 25% nickel. During the 1880s very few of these nickel three-cent pieces were produced. And in 1889, the three-cent piece was discontinued.

Doesn't it seem wierd that the US Mint produced three cent pieces? Why did the United States Mint mint these us coins? The US Mint started producing the three cent piece in 1851. At first only the silver three-cent piece was produced. The silver three cent pieces were very thin coins which were produced solely to help make it easier to purchase postage stamps. The US postage stamp in 1851 was, you guessed it, 3 cents. Before 1851, these postage stamps were five cents, but the US government reduced the price to three cents.

Today the three-cent pieces are highly valued by US coin collectors and coin collectors around the globe. The three cent pieces in mint condition or in proof condition are worth the most money. During most of the production years of the three-cent piece, the Mint only minted 1,000 or less of these coins per year. Since there were so few of these coins minted, they are very rare making them highly sought after coin collectibles. There nickel three-cent pieces graded at proof-66 are at around $850.

Why are three cent nickels popular buys for coin collectors? Since only 1,000 or less of these coins were minted from 1851 through 1889, the three cent coins are very rare. Scarcity is what drives coin values. If you are trying to determine what a coin is worth, scarcity or rarity is the prime factor. In addition, the history of the three cent coin makes these coins popular too.

With the proof-66 three cent nickel going for roughly $850 due to the rarity of these nickel three cent pieces these are great buys for any us coins collector.

Coin Appraisals - Discover the Value of your Coins

Since you are a coin collector you are probably interested in discovering the value of your coins. Of course if you are an experience collector you already know how to find the value of your coin otherwise you should know that coins are valued according to certain conditions. If you are wondering what is the best way to go about evaluating your coin you should know that the best way would be to have a coin appraisal done by an expert in the field. Coin appraisals are essential if you want to know the real value of your coin collection.

Coin appraisals should always be performed by an expert, at least until you get the hang of it. A Good coin appraisal should inform you about the value of your different coins in your collection. The best way to go would be to have multiple coin appraisals done by different experts. The knowledge of each expert depends on is expertise in the coin collecting field. Coin appraisals are not an exact science so by having multiple done by various experts should give you excellent ideas of your coins value.

In my experience, the values of the coins you will get from those coin appraisals should be faire. For the most part these experts have been conduction coin appraisals for years and they usually have a vast knowledge of the coin grading system. They are fully aware of the various grading tactics that are usually used for different type of coins.

But I would highly suggest you gather as much information as possible about coin appraisals this would ensure in the long run that you are getting accurate information from those experts. Having as much knowledge as possible about coin appraisals would be very wise on your part, you would then be able to ascertain if you are being told of the current values of your coins according to the market. You should locate books on the matter to fully train yourself.

You should also look on the internet as there are many sources to gather information about coin appraisals. There are hundreds of site loaded with information about coin appraisals and grading techniques. Some of the information you will want to read about are the methods being used in grading the coins in collections. Being informed about the coin grading system is the best way to know if your coin appraisals are being done correctly.

The thing I would recommend the most is to have multiple coin appraisals done. You should always keep in mind that the knowledge of the expert can vary from one to another so by having multiple coin appraisals done you can have a good idea of the real value of your coin collection. Once you will have gathered as much information as possible you will be able to take a decision whether to sell or expand your collection.

Mail Order Coins

Image via WikipediaWhen you say mail order coins, what comes in mind? Well this kind of coin collection deals with you choosing the coins you want either from the internet or maybe from a catalog of coins. Once you have chosen the coins you want, you get them delivered by mail to your doorstep. Many times you will get your coins okay, however there are times the coins that are you ordered are not the ones you will get. If you do get bad mail order coins what you have to do is get in touch with the people where you ordered the coins. However to make sure that the coins that you ordered do not come as fake ones, you should have checked out the people who are sending you and made sure you did a background check.

To make sure everything goes okay, make sure you only order for certified coins, mint sets and bullion sets, especially since you don’t get to view the set that they are sending you before hand. The older or rare coins are not a good idea if you plan to mail order your coins.

Since you are planning to order for mail order coins and have no other option it will be good to take a few other precautions. First apart from making sure that your mail actually gets to you, you must also ensure that you do not over order or over use your money. Secondly don’t ever try to buy rare coins, opt for the more modern coins which are everywhere and are easier to replace.

How to Take Care of Collectible Coins

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.

There are products available that are made especially for coin cleaning. Coin suppliers have these products that are specifically made for coin maintenance and cleaning in stock. One product made for this purpose is MS70 which removes corrosion and other surface dirt. It is advisable to use rubber gloves for the protection of your hands, as MS70 can dry the skin but this should be of little concern because it is not that harsh on the skin. A soft toothbrush may help with cleaning and removing any dirt that is in the surface of the coin. Improvement in the appearance of the coin will be seen after it has been soaked and cleaned. If satisfaction is not met on the cleanliness and appearance of the coin, he may add baking soda to neutralize the MS70 and soak it in warm water.

After he is through with the soaking, he may dry the coin using a Blue Ribbon coin cleaner and preservative; he may apply a coat and dry it for a couple of days then wipe the damp parts with soft cotton balls and place it on a small cardboard with a space on the center.

If he finds discoloring on the coin, he may use Dellars Darkener after he has soaked it in MS70. He may use this product before he applies the Blue Ribbon cleaner and preservative until he is satisfied with the cleanliness of his coin. Once satisfied with the new appearance of the coin, he may again return it to its set or collection
.
The next step would be maintenance and preservation the collection. Here are some tips on how to take care of coin collections:

1. The coin should be protected from exposure to any kind of elements. It is also important not to scratch the coins; they should be handled with care to avoid scratches on the surface of the coins.

2. It is safe to store the coins in plastic cases or pockets that are made specifically for coin collections and sets. These cases and pockets can protect the coins from dirt and scratches.

3. Coins should be cleaned properly using vinegar, lemon juice, ammonia or rubbing alcohol.

4. If there is unwanted dirt that is hard to remove on the surface, chemical products for cleaning like Tarnex may be used. This option may be used if vinegar and lemon juice were not able to remove the dirt.

5. It is very important to remember that the value of the coin may depreciate if the coin has been cleaned. It is recommended to seek the advice of an expert on other ways of preserving a coin

Many coin collectors believe that a person should never ever clean their collection because they believe that any product that is applied to the coin will affect the surface. A person should know how to preserve their collection and avoid dirt from touching the coins.

Finding Rare and Collectible Coins

Coin collecting
was started only as a hobby for most people, however you can hear what other people say (or you probably have heard yourself) about news of people cashing in on their old coin; and that encouraged more people to go on a coin-collecting streak. If you are one of those people who want to invest in coins, here are several places to start your collection.

Coin Shops:

Many shop owners are dealers that know a lot of information about coins and are selling coins too. These coin shops are a valuable place to find and gain more information about coins and coin collecting. These coin shops can be costly, though, as they are anticipating selling their coins for a profit. With enough knowledge and/or having someone who know a great deal about coin collecting at your side, you can get great prices for your coins.

Coin Shows:

There are times when your local mall will have an exhibit from several coin dealers and that will let you see all of the collections and allow you to buy some coins for a lower price due to the competition. You will probably also see several new coins that are available and suitable for your collection.

These coins shows are great not only for sellers and buyers but also for coin enthusiasts who want to see rare and hard to find coins.

Mail Orders/Web Sites:

There are thousands of dealers worldwide and most of them have websites that allow buy coins and pay for them through mail order or through any online payment system such as Paypal. You should do your research on these companies and read their terms carefully to make sure that you can get your money back when you have a problem with the coin you purchased and/or received.

For every legitimate web site, there are may be hundreds of fake web sites that are just attempting to get your money. You should always ask for feedback from previous customers before paying anybody online and remember not to give out any password or pin numbers.

Flea Markets:

It would be surprising place to find rare coins at a flea market, but stranger things have happened. These places have different ideas about pricing which is due to their lack of understanding of how a coin should be priced. You will find overpriced coins but if you are lucky you might find a rare coin somewhere in those stacks of coins that will make it worth your while.

Flea markets sellers are usually looking for a quick sell and would probably give you discounts when you buy their items in bulk. Try to buy other items and get your coins added as a bonus.

Auctions:

If you are looking to invest in really, really rare coins, the best place to go would be an auction. Auctions are the only place where you can find people selling their rarest and most expensive coins. Several of these auctions are happening online at the same time and most of the sellers are looking for the highest bidders. You must be aware and warned that some of these sellers are frauds and will not make the price you pay worthwhile. You should try to learn more about these coins and their worth before trying to buy one from an online auction.

Other Coin Collectors:

Coin collectors usually have duplicate coins that they are willing to sell for a price lower than its market value. The only problem is it is hard to find another coin collector that collects the same coins as you. The best places to look are online groups, forums and (if you have one) local groups.

Other coin collectors are the best people to turn into when you want to start your own collection. They can offer you tips, discounts and some might even be tempted to give you some of their coins to kick-start your collection.

Coin collecting is like any other investment the value will fluctuate: they may depreciate in value and/or gain value at any time. The best way to profit in coin collecting is keep updated with the news and the prices of the coins. This will not only help you in not being fooled by merchants but by learning how to price a coin even without a price list.

The Different Types of Coin Collectors in the Market

Image by flash2 via FlickrCoin Collectors are plentiful round the globe. In fact coin collecting is a noted Hobby of Kings, this was the description given to this 2500yrs back hobby.

Romans were the first in line to adopt this expensive and competitive activity. Coin Collecting somewhere evolved around the 14th century ,though it is unclear ,whether coin collecting was more a hobby or collected to satisfy the quench of wealth and curiosity.

In 1962 the first ever coin collection convention was organized in Detroit, Michigan ,this convention was organized by the American Numismatic Association in alliance with the Canadian Numismatic Association.

Coin collection often begins in the confines of our home ,where we start saving coins in circulation which we find unusual ,coin collection can also be evolved while traveling other countries ,here you get to collect coins of different currencies and sometimes can chance upon laying your hands on a very unique coin.

Sometimes this passing hobby can become an astonishing collection ,King Farouk of Egypt is known to amass huge collection of coins ,as he had the resources to back this expensive hobby.
Many people collect coins of all specimens ,some have preferences they collect coins to make a set of the particular specimen.

For Example Louis Eliasberg was a well known collector of coins, but he collected coins only belonging to the United States. Many coin collectors are fond of collecting coins of one country only, unlike those who collect specimens of all the countries.

Some collectors are like collecting specimens on the basis of the year, for example a particular coin collector would be interested in the Lincoln cents ad would collect the cent every year from 1909 till date. This method is useful iif interested in US .Currencies.

Subject collection is an interesting way of collecting coins, in this case collectors would collect coin only n the basis of the subject printed o then .For example some collectors are known to collect the special edition of Canadian Coins with polar bears engraved on them.Example

Composition Collection
Collectors who are keen on collecting coins only for the purpose of investments, these collectors are interested only in precious coins like Gold Silver Platinum coins.

Period Collectors
Collectors who are interested in coins belonging to a certain era , some collectors may be keen on coins of the 18th or 19th century where as some collectors may show interest in coins of ancient times only like the coins belonging to the Romans Greeks Indian Parthian .Though ancient coin are the most popular of the lot ,especially ones that have historical significance.

Coin collection is a way of investment, many people collect coins only for the purpose of investment as this is a save and secure means of saving your money. While collecting coin as a hobby ca be great fun ,but those who are keen to convert their hobby to full time business are to be very careful .It is very important to learn the basics of coin dealing before entering into this trade ,as there are strong chances of one getting cheated out of their
money.

Gold Coins Collectors

Coin collecting
is said to be the "Hobby of the Kings." Coin collecting is different from money collecting. 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 for the fun that they get from getting their hands on coins.

Most coin collectors, start out as informal coin collectors. They are leisurely collectors which do not have a specific goal in collecting coins. They collect coins from different countries or from different time periods as opposed to
an advanced coin collector who will collect coins with a specific target in mind. He may want to collect coins from a certain nation, or a certain time period. Many coin collectors would want to collect coins from a certain country during a certain period of time. This kind of coin collection lets the collector travel around the globe through the coins. People may want to collect coins from countries they had visited.
Another way of collecting coins is by taking history in mind. Many coin collectors engage in collecting coins during a certain period in history such as wars or Declarations of Independence.

Error coins

There are people who find coins with errors because these kinds of coins are rare now.

There are many ways to collect coins. One must feel the urge to obtain a 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.

Numismatics today is a hobby that many people enjoy. One of the most cherished and most valuable 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.

Since gold coins 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 plates that people retain as an investment.

Since gold coins can no longer be used to purchase merchandise, most coin collectors just keep them to remember that people had once used them.

A lot of people keep gold today as an investment because they assume that the demand will cause its market value to increase. Others hold it as a form of insurance should the financial situation become worse. Even billionaire Soros recommends investing in gold, including buying gold coins this days. Soros is so good at understanding the economy, he was even able to drug down 12% British pounds and make more than 1 billion in one day! This is why when he speaks about economy, the whole world is listening.

Understanding Coin Price Guides

Image via WikipediaThere are many coin price guides published; weekly, bi-weekly, monthly and annually. They come in the form of magazines, newsprint, "hot sheets", and books. All of us have referred to one of these from time to time to ascertain what a particular coin might be worth. Yet, few of us stop to think about what we are getting from any one of these Price Guides, beyond the price or value of a coin. After all, don't price guides, just give you the price? What else is there?

Basic to an understanding of price guides are two things: 1) the Grade of the Coin; and 2) the Foundation of the price guide. Knowing the Grade of the Coin is required before one can begin. Saying so seems to be obvious, but what more does it mean?

Unless the coin is Graded by an appropriate Professional Grading Company, which has designated what Grade and Identity has been assigned to the coin, most of us are making an assumption about the actual Grade. This assumption we make can be very dangerous because of: a) the difficulty in grading a coin; and, b) the different possible outcomes or results that occur. One Grade "point" or level can make the difference in hundreds or thousands of dollars in the Value of a Coin.

Price Guides assume that YOU already Know the Grade of the Coin. This is why we have the First Rule of Coin Collecting: Know the Grade of Your Coin.

Secondly, ALL Price Guides are founded on the same Principle, which is that the Coin, whose price you are looking up, has been Graded using one Grading Standard. That Grading Standard is set by the ANA - American Numismatic Association - and is entitled the Official Grading Standards For US Coins.

Therefore, ALL Price Guides have a "silent assumption" built in to their guide; which is that the Grade that YOU decide upon, is the True or Accurate, and that such Grade is based on the ANA Standards.

The first difficulty that arises is that most people never know if the Grade that they have decided upon is Accurate. Of course, this difficulty never comes into question, if the coin is Professionally Graded by an appropriate company. There are only four (4) reputable Professional Grading companies that strictly follow the Guidelines set by the ANA, and they are: PCGS, NCG, ICG, and ANACS.

The second difficulty arises because of this "silent assumption" or Foundation of all price guides is whether or not the Grade has been decided upon using the Guidelines or Standards established by the ANA. If you don't have the skills and training of a professional coin grader, the decision is probably questionable.

Even if you do have the skills and training of a professional coin grader, the decision is still probably questionable. Why? Because even professional coin graders have differing opinions. This is why the reputable professional coin grading companies require the opinions of three (3) professional coin graders to arrive at the "Grade" designation to be placed on every coin.

The obvious conclusion is that a Serious Coin Collector is going to invest in rare and modern coins that are graded by one of the Top Four reputable Grading companies. It is the only certain way to eliminate the disagreements and arguments about the Grade of Any coin being Bought or Sold! It is the only certain way one can Value their coin collection. It also eliminates "getting taken" or cheated buying raw coins.

Have fun collecting your Perfect Coins!

Collecting Rare Old Coins

Image by 444-l)! 4y4+ via FlickrGetting your coin collection going ahead isnt as tough as you might imagine and there are a quantity of avenues you can hunt. Almost all of it depends nevertheless on why you need to grow to be a coin collector. If youre doing it just as a restful diversion then you have no dilemma and can get in full swing pretty much off the bat.

If though, youre undertaking this as an investment or youre looking into collecting coins which are unusual or have any other specifics to recommend them you might have to do a tad of legwork initially to get things off the ground.

The places where you can find your coins to begin your fad, which I have given on my website below, are all first class places to start in spite of what your reasons are. Its only later on that you might have to branch out and locate diverse ways and means to get your coin collection completed.

In whatever way that may be, there are a hardly any crucial things you want to do before, during and after you get your coins. Again, it depends totally on what kind of coin collector youre going to be. Ive outlined to the greatest of my abilities the various sorts of collectors whom Ive come across over the years. Youll unearth small sketches of these in the sections of our website below.

Where you can get your coins

How you start your coin collection doesnt in reality matter, all that matters is that you managed to get it off the ground. On the other hand, you might find that you have a little further fortune with a number of the avenues of collecting than by just putting your hand down the rear of the divan!

This, or between the cushions might be a good place for you to start looking for any free change, however that particular depository wont last for long and youll want somewhere that yields additional coins.

These are just a few suggestions to get you in full swing. In Also and besides, it all finally leads to the identical effect, and simply depends on how serious you are about your pastime.

Your piggy bank

Undoubtedly the original thing that comes to your brain when you hear the words Piggy bank is that of a plump tiny earthernware pig, painted an attention-grabbing cartoon pink which you, or someone you are familiar with, had at some point or other.

This need not be the case of course, and there are loads of respectable looking piggy banks out there that dont necessarily need to promote to the whole world that its a piggy bank. If you think yourself above such frivolous things then you most likely dont have a piggy bank nonetheless.

Instead you almost certainly have a cookie jar, or a tin, filled with all the additional pennies, quarters and other change thats forever rolling around your pockets.

But if youve boldly kept the one you had since childhood intact, or youre just an old softie and have your own little piggy bank then this is as good place to start as any for your coin collecting fad.

Hopefully you wont be required to crack the piggy open to get to your coins, but when needs must!

Most piggy banks come well guarded against such contingencies nevertheless, and you ought to find a fitting tiny stoppered opening on the underbelly of your wealthy little bank.

You wont of necessity locate any rare coins but you will most likely find a few appealing pieces and enough to keep your interest fuelled and raring to get on to the next little piggy youve got out of sight in the corner of your closet.

What are Factors That Affect the Value of Coins?

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.

For instance, “1916 D dimes” are much more abundant than the “1798 dimes” yet in spite of this, “1916 D dimes” sell for so much more because there are many more individuals collecting 20th century dimes than 1700 dimes.

Here’s how you can determine the approximate value of your coin:

1. Properly, accurately, and correctly recognize and classify your coin, and know the to place value on that coin. You can do this successfully by examining your coin in a catalogue or online with the “coin price guide”; this will give you an idea of the going rate and price of your particular coin and you can determine the approximate value of your coin.

Everyday coin values are changing; so you need to use a “coin price guide” that is updated on a daily basis to obtain the current coin value. Look at online sites that offer step by step guidance on how to recognize your coin the proper way.

2. Grade your coin based on your thorough observation and examination of its current condition.

3. Consult coin catalogues for a list of retail prices in or estimates of your coins retail value. “A Guide Book of United States Coins”, popularly known as "The Red Book" to coin dealers and collectors, provides information on retail coin prices for US coins and is available in libraries, coin shops and bookstores. “The Standard Catalog of World Coins” (in volumes) is a guide commonly used by coin dealers and collectors as well, to provide information on world coins and is available in many public libraries.

You can also check current coin prices by basing it on the actual dealer coin price found in magazines and newspapers or online auctions such as Yahoo, Coin World, eBay or Teletrade.

Always keep in mind that you are not collecting coins primarily for money; you collect for enjoyment and self gratification, and profit is to be last consideration. The plain fact that a certain coin does not have a large monetary value, does not necessarily suggest that it is no longer interesting or fascinating or that it must not be included in your collection.

Each coin will have a certain interest in itself, regardless of the condition that it is in and regardless of its monetary value. There will always be a certain characteristic that will draw you to that particular coin; so when it does, then you should have it in your collection. Have fun!

How Coin Dealers Survive in These Competitive Field

Image by indi.ca via FlickrCoin Dealers are people, too. YOu see, coins are a very vital mode of money transaction, since centuries our ancestors our forefathers grandfathers and even our children tomorrow will use coins for their daily circulation. Today banks have evolved the use of bank notes ,still for smaller denominations coins are used and will be used forever as a means of currency.

Coin collectors are those people who have a passion for coins ,coin collection may be for hobby as well as professional purposes. People who collect coins only as a hobby are known as coin collectors.

Coin Dealers are those coin collectors who collect coins for the purpose of trade, coin dealers are traders and dealers of coins who buy and sell coin for profitable purpose.
They buy and sell coins, on profit basis.

Coin dealers are different from coin collectors. Coin collection has been known as the hobby of the rich and famous .Coin collection is a very expensive hobby and further this small time hobby can further generate to become a full time profession.

A coin dealers work is very competitive activity, it's a full time profession where one has to be well skilled and experienced in identifying coins and grading them.

A common reason for dealing in coins is larger gains in shorter times. Coin dealers are quiet like investors as well as collectors, in a way they too collect coins. The only difference is they are not one specimen or hobby collectors or investors who would buy only valuable coins for investment. Coin Dealers would buy every coin they can lay their hands on, the only aspect they look out for is a good deal.

Coin prices depends a lot o the demand of a particular specimen ,in this aspect coin dealers are the one who create the demand for particular specimens. For example the demand for 18th and 19th century coins is always high and a coin dealers would easily be ably to make a profit on these specimens of coins.

Coin dealers are always on a look out for ancient rare coins ,in this case they can anticipate higher profits, coins from medieval times like the Roman , Greek Indian Parthian Ostrogothic coins are quiet popular with coin dealers. The most poplar of the lot are the Israelite coins these coins have originated from Israel and are very quiet popular with coin dealers. The most poplar of the lot are the Israelite coins these coins have originated from Israel and are very profitable for a coin dealer.

Coins are often a reflection of their times, as well as historical events that took place during that time, such historically significant coins fetch a very high price and are very popular among coin dealers.

While coin collecting is a hobby coin dealers are a full time profession, and any person entering this field professionally have to be well experienced and skilled. Grading is a very import and S factor while dealing with coins and a coin dealer has to be well versed in grading of coins too.

Old Coins Turned Into Gold

When I was a kid I saw my grandfather collecting ancient coins and paper money. I always play with those coins and my grandfather told me that those are his precious collections. So I wonder why other people keep those old coins and paper money, as what I understand you can no longer use them to buy a toy. And as I grew up i have realized that collecting coins is not just for fun.

To start your coin collection as investment so you can prosper later. You will need to do the following

1.The first important thing that you need to understand is the history of that coin. It is important to track the event of the coin as their value is changing. The rarer an old coin, the more it will be worth. The demand for a particular old coin by dealers or how many collectors want it, will also greatly influence coin values. Read old books so that you can get idea how valuable your coin is.

2.Ask friends and relatives if they have old change and then ask if you can have it or offer to buy it, depending on what feels appropriate.

3.Complete a set. Collect one of each year and mint mark of your coin of choice.

4. Expand your collection by searching from an auction site. I am sure they have the coin that you are looking for or you can also visit a local coin shop. Get to know the people who work there; they can help you expand your collection by explaining ways to find pieces you're missing coin.

5.Store your coins in a safe place. If you are buying expensive coins, invest in a safe-deposit box and containers that will not destroy the numismatic value of your coins.

6. Note that some people advise collecting coins out of pocket change. Once a modern coin has been in circulation, it is typically only worth its face value, although there are notable exceptions.

Coins are really a good investment. It has been growing in value faster than the rate of inflation, as well as the interest rates paid by banks. If you buy and sell carefully, there is money to be made.

The Perfect Time to Sell Coins

When is the perfect time to sell coins? This may be a dumb question if asked of a coin collector however timing really does make a difference. There are times when a collector wakes up in the morning and suddenly makes a decision to sell his precious collection of coins. There are also times that a collector needs to give up his coin collections due for personal reasons and the idea of selling his precious coins may be the most difficult part. No matter what the reasons are, it is a fact that this does occur in the life of a coin collector.

There are many reasons why coin collectors sell their coins - there are coin collectors who are dealers at as well. Selling coins is their option and they may use it to generate income so that they can acquire other coins that they like.

Some collectors travel in search of a coin they want and during that travel, they may encounter coins that may not be qualified for their own collection but they buy them anyway. Upon returning home, they sell the coins they have purchased and make use of the money to buy the coins they are looking for.

There are also coin collectors who gather coins not just as their hobbies; these coin collectors use the coins as their source of income. They make a living from selling the coins that they collect. Sometimes they sell the coins to other collectors and price them higher than the usual price of the coins and this is appropriate if the collector owns limited edition or rare coins.

On the other hand, some collectors sell their coins because of other factors. They may sell coins because of personal reasons. Collectors sometimes decide to “give away” their collection because they no longer have any option but sell their coins. This is the most difficult situation for coin collectors as they often value their coins and as much as possible would not want to give them away - the coins may be memorabilia or may have sentimental value to the collector.

Once a collector has decided to sell his coins, he must consider if it is really the right time to sell the coins. Is the collector ready to give away his coins? Is the coin at higher price now? Will it do well and will he benefit from selling his coins? These factors should always be considered.

There are other options available to determine where a coin collector could sell his coins. He may want to sell the coins at auctions. Many people now prefer the option of putting their belongings up for auction and this is not limited to coin collections.

There is also a higher chance of having the coin sold at a higher price since auctions include bidding processes. Buyers may bid for a higher price especially if the coin being sold is of rare quality and has a higher value.

A collector may also want to put up a website to advertise the coins that he would like to sell. The Internet is the easiest way for collectors to search for coins. In addition, putting the coin on the Internet will make the selling an easier task. The collector may put up his own website and place the pictures of his coins and some brief descriptions on it. He should also note how much he is willing sell them for.

There are other options too: the seller may want to do a dealer-to-dealer negotiation. He can go directly to coin dealers and sell his coins. The dealers then can sell the coins that they purchased to other dealers.

It is important to compare prices between one dealer and another as there is always a chance that one dealer may buy the coins at a higher price than other dealer. It is wise to shop for dealers and then decide which you one you want to deal with.

It is also recommended that collectors who decide to sell their coins use a coin grading service. It is very important so that the seller not end up a loser when he sells his coins. By using a grading service, the seller will be able to set a price that is based on the assessment made by the grading service who will determine the actual value of the coins.

Most importantly, coin collector should not clean their coins once they have decided to sell them. If they do, the value of the coins will depreciate.

What You Need to Do to Learn About Coin Appraisal

If you are a coin collector, then coin appraisal is important because you will want to find out the value of your collections. The first process in this coin appraisal is to learn about your collections and the history behind each collection. Purchasing a coin appraisal magazine is a good way to start learning about your collections.

When you have a basic idea about your coin collections, then it is time to find a coin appraisal dealer. It is essential to spend some time in this process because you want to find a dealer who is professional, honest, and does not have any intention to cheat you. You need to feel comfortable in doing business with the dealer because it is likely that you will cooperate with the dealer for a long period of time.

After you find a suitable coin dealer, you still need to learn and improve your knowledge in coin collecting. By learning, you will get valuable information and knowledge so you can be more comfortable when dealing with coin appraisal process. Understanding the grading system is very useful when you want to improve your coin appraisal knowledge.

Coin grading system

When you understand this coin grading system, you will have knowledge to evaluate and determine the value of a coin. Obviously a collector who can spot a rare coin that is in a good condition will have essential advantage in coin collecting. There are some coin grading systems developed to determine the condition of coins and one of the most common ones is the letter grading system.

The grading system classifies the condition of the coins using English words and letters. The lowest grade is Poor (PO) or Basal, which means that the coin is barely recognizable. Most coin collectors do not want to collect poor graded coins unless they are extremely rare or have a sentimental value. The next grade is Fair (Fr) where the coin has a slightly better condition, although it still looks worn. The higher grade after Fr is AG or Almost Good and this is followed by G or Good and VG or Very Good.

Other high grades are Fine (F), Very Fine (VF), and Extremely Fine (EF or XF). Usually this is the grade that a circulated coin can get. For uncirculated coins, there are higher grades called Almost Uncirculated (AU), Uncirculated (Unc), and Beautiful Uncirculated (BU).

Even if you have been a coin collector for a long period of time, coin grading can still be a complicated task. Asking advice from professionals is still a good idea when you want to find out the grade of a certain coin. There are some well known companies that provide coin grading system services, such as Professional Coin Grading Services (PCGS), American Numismatic Association Certification Service (ANACS), and Independent Coin Grading Company (ICG).