One of the most sought after coins which collectors are looking for these days is the Morgan silver dollar coin. This is a highly collectible coin for a few different reasons. One of the biggest reasons why it is so valuable is because of the fact that it is made out of silver in the first place. Even if the coin is in terrible condition, it is still worth the value of the weight of the silver. This amount will fluctuate, but it will always be worth more than just $1.

The other reason why the Morgan silver dollar coin is so valuable is because people could not wait to be rid of the heavy coin. Keep in mind that the majority of people in the day had to carry their money with them from place to place and nothing was worse than having to carry a large sack of silver dollars to purchase items with. When the paper currency was made available for the one dollar denomination, people were anxious to get rid of the clunky coins which had been such a burden to this point. If you collect these coins, here are a few things you should know about them.

Mint Condition Morgan Coins Are Extremely Rare

When you are looking to buy a Morgan silver dollar coin that is in mint condition, be careful. This is because it is near impossible to find one in this condition. This is because the majority of people were not looking to save these coins. As soon as they were minted, they were put into circulation and they circulated heavily. The majority of coins you will find will be scratched and worn from heavy trading. If you find a coin with no markings, approach it with caution.

Look for Third Party Grading

A great way to make sure that you are buying a Morgan silver dollar coin with actual value is to buy one which has been graded by third party grading services. These services in America most often use the Sheldon Grading Scale. It is possible to find grades which are based on a European Adjective Grading Scale, but these are not as commonly used in the coin collectors’ circles. This is because the numbers which are used in the Sheldon grading scale are more recognizable and more accurate to the quality of the coin.

Look for Good Containers

Most often when you are purchasing a graded coin, it will be contained within a plastic sheet. It is important that you make sure that the plastic being used does not include PVC. This is because of the effect that it has on the quality of the coin. The last thing that you want is to purchase a Morgan silver dollar coin only to find that it is being damaged by the very container that is supposed to be protecting it from being damaged. The bets graders will know better than to use these containers.

Photo Credits: aresauburn™

Originally posted 2010-09-05 03:08:36. Republished by Blog Post Promoter

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There are plenty of different types of coin dealers out there, as each coin collector shop features a different dealer as an owner. While some are easier to work with than others, all are looking to make a living by turning a profit on these different coins. If you are serious about coin collecting, you need to work to better understand how these coin collectors operate and how to get what you want from them.

Studying different coin dealers will help you to better understand how to get what you want. These different tips are going to help you to know what to look for and will help you to work to find the coins that you need for your collection.

Be Friendly

If you want to get something from coin dealers you need to approach them in a respectful way. Make small talk and truly work to get to know the coin dealer. The friendlier you are, the more likely they are to help you to get what you want.

With that being said, do not be fake. Talk to the owner and coin dealer a few times before you start to try to work them down on prices. Make a purchase or two at full price before you start to negotiate. This can help to set up a respectful relationship that will benefit you in the future.

Be Knowledgeable

Coin dealers know what they are talking about. They live in the coin world and know exactly what these coins are and how much money they should go for. You need to try to match their level of knowledge. This will help to impress them and will help to foster a relationship while helping to show how serious you are about your hobby. The more serious you come across, the more likely they are to help you out.

Be Firm

When you do start to negotiate with the different coin dealers that you are working with, be firm. If you are working on negotiating the price of a coin down and they will not go as low as you want, turn the purchase down. When they see that you have turned down a purchase, they know that they must lower their prices to make a sale with you. The next time that you attempt to purchase a coin, they may be willing to go down further because they know that you will turn down a price if it is unfair.

If you have a coin collection or are finally starting to get into coin collecting, you need to understand how to get ahead. You need to be as efficient as possible if you want to have an impressive collection. Knowing how to work with coin dealers is an important part of this process, as it helps you to better understand those who are standing between you and your collection. Coin dealers have the coins that you need and know it. You need to know how to work with that t avoid getting ripped off and to work on expanding your collection.

Photo Credits: Le Petit Poulailler

Originally posted 2011-04-20 03:51:58. Republished by Blog Post Promoter

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There are plenty of adults who get into coin collection at an older age, starting their collection when they have the money to do so. There are others who started at a younger age, collecting coins from the period they grew up in. There is something to be said for getting kids into coin collection, as it can be a great educational tool as well as a topic to bond over.

If you are thinking about getting your kids into coin collection you are going to want to make sure that you do so correctly. There are some things to consider with getting children into this collection theme. These four tips will help you to get kids into coin collection and allow them to have fun.

Get Them Started

If you are going to get your kid into coin collecting you are going to need to get them started. You will need to pay for the first few coins that they get, simply to get them interested in the collection and the act of picking out new coins. Just like any other hobby, there will be some costs associated with getting them into this form of collection.

Let Them Make Decisions

It is important for parents to realize that this is their child’s collection, not their own. Parents should be involved in the process but should still let children make their own decisions about their collection. Let them choose the types of coins that they want to buy, and let them negotiate prices down on their own. This will help to make sure that they are strong in their collecting skills as they do things on their own.

Make it Educational

While the act of coin collection does not need to become boring, it should be somewhat educational. Have your children do research on the coins they want or the coins that they have to see the history behind each coin. A simple 5 minutes of reading about a coin and the time period of that coin can teach your child a wealth of historical knowledge.

Have them Save

While you want to get your child started on their collection, you are going to want to push them to pay for their own coins down the road. Have your children save up from holiday gifts of from their allowance to purchase the coins they want.

Coin collecting can be an educational tool for children, helping them to get into previous eras and other countries. Early coin collecting can also be a great way to get a child started in general coin collecting for their future. They will have a strong collection of coins by the time they can afford to purchase rare coins themselves. These different tips are simply going to help you to nudge them along their way and give them a strong start in the world of coin collecting.

Photo Credits: Pingu1963

Originally posted 2011-01-07 03:02:22. Republished by Blog Post Promoter

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There are more people than ever getting started with coin collecting. This is a hobby which young and old alike have been enjoying for quite some time. The great thing about the hobby is that it is not only a great way to learn about history and your country, it can also be quite profitable. The question many people have is how you get started collecting coins. There are a few different approaches you can take to get started. One is not necessarily right and another wrong. It is all about what interests you and what you would like to get out of your collection.

Collecting Rare Coins

The most popular method of coin collecting is to collect those coins which are rare and have a high value. These coins are found in various locations from other coin collectors to pawn shops. When you are purchasing any kinds of rare coins, it is a good idea to make sure that they have been authenticated so that you will not be buying something which only claims to be rare but is in fact a replica of a coin which is rare.

How you preserve your coins in coin collecting is up to you. While there are mats which will allow you to hold all of the coins in their own compartments, others have decided to hold on to the coins in sealed plastic bags. When you contain the coins, keep in mind the effect of oxygenation on the coins. You should also be cautioned against cleaning the coins yourself unless you have the right gear. You can actually do harm to the coin by trying to clean it. In most cases, you are better off simply leaving the coin alone. If you are insistent on having the coin cleaned, take it to an expert in the field of rare coins.

Collecting Coins of Personal Value

There are a lot of people who get into coin collecting simply to hold on to coins which bring back memories of their own lives. These coins can include the commemorative coins which have recently been released by the mint. Special mats have been created which allow people to place the coins in special slots which will signify which of the states they have traveled to in their lives. It serves as a coin collection as well as a memento of the travels you have had in your life.

Traveling is such a big part of coin collecting that you will even find people who have collections which include coins from around the world. These signify the travels that they have been on throughout the different countries. These can become quite valuable as the coins stop being circulated. Even if they are of no value during your lifetime, they can become something which is valuable for those who are further down in the family tree. You can pass along the memories of your travels as well as the value of the collection.

Photo Credits: wiccked

Originally posted 2010-08-20 07:41:26. Republished by Blog Post Promoter

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A coin collection can be a fascinating hobby or an investment the can increase in value over time. If you have a sizable collection or want to become a serious collector, it may be wise to get a professional assessment of the value of your collection. Here is how coins are valued:

1. Scarcity or rarity – If a coin if very rare the value will generally be higher. For example, 1913 Liberty Head nickels may demand a price of $1 million or more because there are only five in existence. Antique coins are limited so when they are found, they tend to have a high value. An exception could be old coins that are in great supply. A one thousand year old Chinese coin may only be worth a few dollars because there are a great number of them in existence.

2. Condition or grade - Coins can range from newly minted, never circulated to very low quality, damaged coins that are hardly recognizable. Until recently, coin grading was done on a subjective basis. Ratings depended on the opinion and expertise of the grader. Recently a number of scales have emerged in the U.S. and Europe grading attributes like rarity and coin quality.

3. Bullion value - Coins made of gold, silver or platinum precious metals may be valued not only on appearance but on the value of the metal they contain. When the price of gold is high, the value of gold coins will rise accordingly.

4. Demand – The price of coins is subject to the laws of supply and demand. When a coin is in great supply, its price will be relatively low. Some coins are in high demand because they are attractive or because they were issued at some significant period in history like the moon landing or the inauguration of President John F. Kennedy. High demand for a coin will cause an increase in the price of some coins even though they may not be in mint condition.

History of Coin Grading

Prior to the development of the worldwide market for coins, coins were described as “uncirculated” — the highest grade, “fine” or “good” — the lowest quality. By the mid 20th century, the American Numismatic Association and most professional coin dealers in America adopted a numerical system called the Sheldon scale. This system uses a scale of 1 – 70 with 70 representing the perfect specimen and 1 the lowest quality coin.

Factors in Evaluating a Coin

1. Eye appeal or aesthetic interest
2. Dents on the rim
3. Scratches or blemishes on the coin surface
4. Luster
5. Tone
6. Detail
7. Damage

Coin Grading Services

Two of the most popular coin grading services are the Numismatic Guaranty Corporation and the Professional Coin Grading Service. Coin grading services certify that coins are authentic and give a rating to each coin. After coin is graded it is sealed in an air-tight case to prevent deterioration.

Even though coin grading is used to establish the value of a coin, the process of coin grading still involves a degree of subjectivity. For example two coins may have the same rating but one coin may be more aesthetically pleasing to the public commanding a higher price. In general the higher the quality, the greater the value of any particular coin.

Apart from professional grading or market prices, the greatest value of coin collecting may be the joy that collectors get from this popular and fascinating hobby.

Photo Credits: Ivan Walsh

Originally posted 2010-08-07 09:28:40. Republished by Blog Post Promoter

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When you are talking you time, effort, and money to invest in coin collecting you need to be sure to only do business with reputable people and businesses in the coin industry. One of the most important things you need to know is how to go about finding the best coin dealers. Below is some helpful information to assist you in protecting your invest in coins when looking for a dealer. Follow the tips below and you are sure to find the best dealer in the coin industry here on the United States.

Avoid Basement “Slabbers”

When you are considering doing business with any rare coins dealers you need to first find out if they are associated with one of the top three recognized coin grading services or “slabbers” as they are know in the coin world. The top three coin graders in the United States are PCGS, or Professional Coin Grading Services, NGS, or Numismatic Guaranty Corporation, and ICG, or Independent Coin Graders. All of these services use top currency experts called numismatic experts to grade coins. Other companies which are staffed with numismatic experts are referred to as basement slabbers. Basement slabbers generally overcharge to rate a coin and the rating they give are often inaccurate and nit recognized by coin collecting experts.

Online Dealers

One of the first places people tend to go to these days when it comes to collecting anything is the internet. While the internet can be a great source of information about collectible items such as coins it may not be the best place to find rare coin dealers. This is because many of those who sell coins online are not associated with the top three recognized U.S. coin graders. Most of the online dealers of coins use basement slabbers to determine the value of the coins they are selling. The result is that people often end up overpaying for a coin through an online dealer or they sell them a coin for far below the coins value.

Ask Questions

Before you go into any of the coin dealers you may be considering you will want to do some research about the type of rare coins you are going to look at. While you are there start by asking the dealer questions about the coins which you already know the answer to from your research. This can help you in determining if the dealer knows what they are talking about and whether or not they are trying to mislead you.

If a dealer tries to avoid your questions and seems to be trying to stop you from asking anything then they may not be a dealer you want t do business with. Remember that reputable coin dealers will encourage you to ask question about rare coins. A reputable will be happy to answer any questions their customers have because they are looking to create a long term business relationship with you instead of just trying to rush you into one quick sale.

Photo Credits: chrstphre

Originally posted 2010-08-16 04:34:05. Republished by Blog Post Promoter

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Having a good coin collection means having a collection which is attractive to look at as well as a collection which is worth a lot of money. There are a few things you will need to know in order to be able to get the coins that you want at the price that you can afford. These methods are ones which have been proven time and again to be effective in being able to get the coins which fetch the highest prices at auction without having to pay the highest prices to get them.

The methods which you will use to get the valuable coins you want include going to antique stores. This is because most antique dealers do not know what they have in their hands when they have rare coins. You can also find good coins cheap at the flea market. One last place where you can practically steal coins from people is through the garage sales which go on in most towns throughout the year. You will have to spend some time to find these great coins, but when you do find them, you will be able to get the bargain of a lifetime.

Antique Shops

There are many antique shops which will carry the coins that you want to buy. They have the old coins just because they are old. This does not mean that they know what they have. They may even be in slabs and everything with grades attached to them. This will allow you to get the coins you want ready to go. You will not even have to spend the money to get them appraised because the work has been done for you.

Flea Market

The flea market can be hit and miss because you will often find nothing at the market at all. People think they have something and they do not. Every once in a while you will find valuable coins which will blow the market out of the water. You will simply have to sift through a lot of stuff in order to get to the coins which will be worth buying. If you run into a seller looking to sell something well above its value, you might want to show them the current market price for the coin so that you will be able to talk them down to a more reasonable price.

Garage Sales

The American dream is to keep getting more stuff but eventually you need to clear some space. This is when people have garage sales. Often you will find a garage sale which has valuable coins either because the seller does not know what they have or the person who collects the coins is unaware the coin is being sold. Either way you will be able to get a great score at a roadside store meant just to clear out some room in the garage or the attic. Try to pay a decent price.

Photo Credits: Zevotron

Originally posted 2010-08-31 08:38:46. Republished by Blog Post Promoter

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The Professional Coin Grading Service, or PCGS, is one the three professional coin grading companies, or “slabbers”, recognized by serious coin collectors and dealers across the United States. PCGS uses the American coin grading system to give coins a grade which refers to their condition. Expert in the coin industry trust and rely ion the grade given to a coin by the PCGA to help determine the overall value and collectible status of a given rare coin. Below is more information about PCGS coins.

About PCGS

PCGS coins are respected in the coin collecting industry because PCGS is one of the top three reputable coin grading services in the United States. PCGS has been grading coins since 1986. To date the service has graded upwards of 20 billion coins. The reason so many people have come to have their coins graded by them because they have a board which consist of the best experts in numismatics which is the study of currency. This means the coins they grade receive the most accurate grading possible.

The Grading System

The Sheldon Grading System is the system used to grade PCGS coins. This system is used primarily here in the United States and is considered to be one of the best, if not the best coin grading system in the world. The system consists of 70 points used to grade a coin on its overall condition. The higher the grade number the better condition the coin is in. This is because the first 59 points of this system are given to coins which have been circulation. Points 60-70 of this system are used to grade coins which are in mint status. Each of these grades is given to a coin along with a corresponding code.

Sonic Sealing

After a coin has been graded by PCGS it is then sonically sealed in a case. When a PCGS coin is sonically sealed it also has the grade given to it and the official seal of the PCGS encase on the sealing. All of this is done so that no one can open the seal which the coin is encased in and to remove it and replace it with another coin. This is also done so no one can remove and tamper with the official grade given to that coin by the PCGS. This helps to prevent some of the fraud which often can happen within the coin collecting industry.

Knowing Your Coins Value

When one has a PCGA coin they know what they real monetary value if the coin is. This is because appraisers use the same Sheldon Grading System used by the PCGS to rate the condition of coins to help determine the value of a coin. One can go to a coin appraisal guide such as the Red Book for coins which is published annually and use the grade given to their coin by the PCGA to look up the value of their coin. All a collector needs to do is simply match the type of coin they have the grade of the coin to the listing in the book.

Photo Credits:  Janet Moore-Coll

Originally posted 2010-08-11 04:39:39. Republished by Blog Post Promoter

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The world of coin collecting revolves around many types of currency, including rare coins and old money. These types of coins and currency are the hardest to find, and are the most sought after. People will make brainless decisions about these types of currency simply because they want to be able to say that they have them in their collections.

If you are thinking about collecting rare coins and old money you need to make sure that you are doing it right. You want to make sure that the old paper money and rare coins that you find are going to add value to your collection. These various pieces of information will help you to better understand what to avoid when collecting this type of money.

Counterfeit Coins

One of the biggest issues surrounding the collection of rare coins and old money is counterfeit coins. There are plenty of individuals who are trying to produce fake money as a way to make money off of inexperienced collectors.

If you are going to jump into the world of collecting rare coins and old paper money you need to be informed on fake currency. You need to understand trends and learn about what you should look for when inspecting the money. This will help to save you hundreds, if not thousands of dollars as you work on your collection of old money.

Paying Too Much

There is something to be said about the value of rare coins and old money. There are going to be individuals who are going to overcharge for these pieces, trying to make money off of the fact that the pieces are rare. You need to work to avoid paying too much for old money by knowing the value of the pieces that you are interested in. The more information and facts that you have about the value of a coin, the more likely you are to get the collector to drop the price of the piece.

Severely Damaged Goods

There are some individuals who will purchase severely damaged old money because they want to see it in their collection. These pieces are going to be less expensive than pristine, mint-condition pieces. These pieces have low values, however, and may not be able to be resold. Interest in damaged pieces continues to wane. If you are worried about the value of your collection, avoid severely damaged coins and paper money bills.

People are awestruck by certain types of rare coins and old money, and will do whatever is necessary to get them. People will make stupid mistakes, paying too much for these coins or paying for fake coins and fake paper money. The coin collectors who are serious about collecting will take the time to learn what to avoid with this type of currency collection. Those who do will be sure to have a strong collection full of great currency that includes rare coins and old paper money.

Photo Credits: Rawksteadi

Originally posted 2010-11-26 06:24:03. Republished by Blog Post Promoter

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There are plenty of people out there looking for a great hobby they can get started in. More people have started turning to coin collecting. This is because it appeals to two different collectors. It appeals to those who simply enjoy the look of certain coins to those who see the investment value possible when you own certain coins. For those looking to get started in collecting coins, there are a few things to keep in mind. These things will help you to have the collection you want while making sure that you never pay too much.

Collecting Commemorative Coins

There are plenty of people who are seeking out the coins which are currently being produced by the U.S. Mint as a way to start collecting coins. Whether you are talking about the state quarters or the president dollar coins, these are extremely collectible. The only thing about collecting something so modern is to make sure that they are either slabbed right away or that they are put in a mat along with all of the rest of the coins which come in the collection. This will help you to change something which has only the printed value now and make it worth a lot more later on.

Getting to Know the Grading Scale

The most used grading scale is the Sheldon Grading Scale. This is a scale from 1 to 70. On this scale 1 is the worst you can possibly rate. 70 is the ultimate meaning that the coin is perfect in every sense of the word. It appears as if it was printed earlier that day. The grades 60 – 70 are the grades most sought after by those collecting coins because they are the grades which mean the coin has never even been touched by human hands.

As you go higher in the grades, you will find that the prices jump significantly. In fact, you will find that all things being equal the value of the piece can jump easily two or three times the value of the grade below it. As you might imagine, this means that the coins at the top of the grading scale are that most valuable of all. Unless you have a lot of money to get started, it is recommended you start with some grades in the circulated categories and move into almost uncirculated and finally into mint state.

Storing Your Coins

A very important thing when you start collecting coins is to make sure that you are storing them correctly. The best cases to store in are those which are plastic and do not contain any PVC. The majority of slabs sold today do not contain PVC. If the case of a coin you purchased does have PVC, it is a good idea to have the coin recertified and reslabbed right away. This will make sure that you got the investment you were hoping for. It will also help to make sure that the coins will be protected from any future problems.

Photo Credits: diveofficer

Originally posted 2010-09-07 03:47:06. Republished by Blog Post Promoter

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