February 17th, 2012 — Coins, For Beginners, Kid Coin Collectors
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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February 13th, 2012 — Paper Currency, Paper Money
Those who have gotten into coin collection may be surprised to find out how different paper currency collection truly is. Unlike the ease of coin collection, paper currency collecting can be more difficult to perform. The actual pieces of money can be somewhat hard to find, as the money is simply more fragile, more expensive, and more rare than many coins that are up for sale and for collection.
If you are looking into old paper money and paper currency collecting you are going to need to know where to look for the money itself. Knowing how to find the paper currency that you looking for is half of the battle when attempting to collect paper money.
Work with Shop Owners
The first thing that you are going to want to do when getting into paper currency collecting is start to forge relationships with shop owners. You need to start to get to know the different coin collecting shop owners in you area, as they have all of the connections in the paper currency world. They may have the old paper money that you are looking for, or will know someone who has the paper currency you are looking for. If not, they will be more than willing to help you seek out the piece that you are looking for, as they are going to want to make some money off of the transaction. If you work with coin shop owners, you are more than likely going to find what you are looking for with relative ease.
Head to Currency Shows
There are plenty of paper currency shows and money collecting shows held around the United States each and every year. Take the time to seek out the shows that are closest to you and browse them for the paper currency that you are interested in. you may find new pieces that you did not know about previously that you want to add to your collection, or may find exactly what you have been looking for.
Use the Internet
If you are struggling to find what you are looking for through shop owners and currency conventions, head to the Internet. Online auction websites and coin collection website are going to work to make it easier for you to find exactly what you are looking for. While you must be more cautious, and must pay for things like shipping, you will have found what you have wanted and will be happy with your purchase.
While it may be harder to find the paper currency that you are looking for as compared to finding coins that you are interested in, it is still both easy and possible. Take the time to forge strong relationships with coin collecting shop owners and head to as many money-collecting shows as you can. Between these real-life efforts and your virtual efforts on the Internet, you should be able to find exactly what you are looking for quickly and easily.
Photo Credits: LostBob Photos
Originally posted 2011-04-01 04:20:45. Republished by Blog Post Promoter
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February 11th, 2012 — Coin Grades, Coins
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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February 5th, 2012 — Buying and Selling Coins, Coins, Finding Coins, Valuable Coins
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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January 18th, 2012 — Buying and Selling Coins, Coins, Finding Coins, For Beginners
It can be easy to think that you have mastered coin collecting once you have pulled together a large and decent collection. When you have coins that you like in your collection and have spent years on your collection, you feel like you cannot improve your collection. With that being said, anyone who wants to become a great coin collector knows that there is always room to improve their approach to their coin collecting and their coin collection as a whole.
These insider tips are going to help you to strengthen your coin collection and will give you the knowledge you need to approach your collection with professionalism. Follow these tips to see a better collection and to have an easier time with coin collecting as a whole.
Know When to Make Your Move
If you are serious about coin collecting you need to know when to finally make a sale and purchase the coin that you are interested in. Do not purchase the coin as soon as you find it – there could be others in different collections and shops that are at lower prices. You should also avoid paying top dollar for a coin, as you may be able to get a lower price. You need to understand when you should pick up the coin at any cost (incredibly rare coins) or when to let the coin go (coins you will see at other shops, guaranteed).
Always Negotiate
The earlier mention of not paying top dollar for coins brings up the point of negotiation. You should always work to negotiate down the price of a coin. Most coin collectors are going to inflate the prices of their coin collection. They expect those who are serious about coin collecting to negotiate to work the price down, so they inflate the initial price to eventually get the price that they want for the coin. If you do not negotiate down the price, you will be paying too much for the coin.
Be Armed with Knowledge
Part of knowing when to let a coin go and knowing when to purchase a coin up comes from an overall knowledge of coin collecting. You need to understand the history behind coins, understand their rarity, and understand both expected value and going rate for them. Your knowledge will help you to understand if a coin is rare enough to pay a higher price for, or if it is priced too high to consider when taking into consideration the actual going rate of the coin. Without this knowledge, you are simply shooting in the dark as far as coin collecting is concerned.
There is a world of tips and tricks to coin collecting that will make it easier for you to improve your collection. These simple tips are the basic tips that you need to have under your belt to start to approach your collection professionally. When you know when to make a move, know how to negotiate, and know your coins, you will have a better collection and will be taken more seriously in the coin collecting world.
Photo Credits: zeuxis.pixelsurgery
Originally posted 2011-06-15 07:13:13. Republished by Blog Post Promoter
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January 4th, 2012 — Coins, For Beginners, Getting Started, Storage and Supplies
There are many different ways you can save your coins that you collect. There are some methods which are better than others for protecting your coins. One of the ways you can protect your coins is through the use of the coin collection album. This is an album which some coin collectors use so that they will be able to look at certain collections at any given time. While these are generally used to collect the modern coins being issued by the mint, there are many which have been created which help you to store older coins as well.
It is important that before getting started with using a coin collection album that you know all there is to know about it. You should know all of the good qualities about putting your valuable coins in such a place. You should also get to know what cons there are about using an album to store your coins in. Additionally, it is a good idea to get to know the other ways you can store your coins. The more you know about the different ways to store your coins, the better decisions you can make about how you would like to store your coins.
Pros of the album
The first thing you should look at when considering whether to use a coin collection album is all the ways you will benefit from it. The biggest way you will benefit from it is the fact the album will have been made specifically to house your coins. The slots for each coin have been specially designed so that when you put the coin in the album, it will stay exactly where you put it. This will keep you or anyone else from touching the coin again.
Cons of the album
The biggest problem with the coin collection album lies in the construction. They are generally made from cardboard. This means the coin can be scratched when you place it into the album. Additionally, when you place the coin into the slot, you will likely do so with your bare hand. This will render the coin unable to be graded as a mint state coin. The oils from your skin will make it where the coin will have an indelible mark which will rate it at lower than a MS 61.
Alternatives to the Album
If you have decided you do not want to use the coin collection album, you will need to have an alternative to put your coins into. This is because you will need to offer protection to your coins. A great way you will be able to get protection for your coins is to use flips, cases and slabs. The most used for of protection is the slab. This is because the hard plastic shell will suspend the coin in place and will allow you to inspect the coin without ever having to take it out of the case.
Photo Credits: seriykotik1970
Originally posted 2010-09-15 03:25:15. Republished by Blog Post Promoter
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December 31st, 2011 — Coins
One of the best things that you can do for your coin collection is to involve others. This does not mean simply showing other the coins that you have purchased – it means actually incorporating your family into the coin collecting process. Coin collecting is simply more fun when others are invested in the collection with you. It creates a common point that can always be a point of interest for your family, something many families lack.
There are a couple of different things that you can do to actively involve your family in coin collecting and create a family coin collection. Playing to the strengths and interests of all in your family will help to make the experience special.
Choosing Coins Together
One way to incorporate your family in coin collecting is to choose the coins that you want to add to the collection together. You can sit together as a family and talk about the different coins that interest you. You can then make a group decision as to the coin that you want to add.
If you are having difficulty choosing a coin as a family, hold a vote. Give family members one or two votes, and do not let them vote for their own coin. The coin (or two coins) with the most votes will be the coin (or coins) that will be added to the collection.
Each Adding to the Collection
If you have more money to use on the collection or want to give everyone the chance to add to the collection as they see fit, create a simple full family collection. Each family member can add whatever coins they would like to add to the collection. This gives each family member immediate ownership of the collection and will make them more emotionally invested in the collection. This is where organization is key; make sure each family member lists the coins they add. Then, make sure each family member checks the list for a duplicate before they add the coin to the collection.
Photography and Displays
If you have family members who are interested in becoming a part of the collection but are not interested in coins, play to their strengths. If you have a family member who likes to build things, have them create the displays for your coins. If you have a family member who likes to take photos, ask them to keep a photography log of all of the coins in your collection. This is a great way to incorporate family members who may otherwise be uninterested in collecting coins.
It is important for you to think about coin collecting as a whole process, as you will be able to find more ways to incorporate your family. By allowing family members to add to the collection, research the collection, or support the collection through photos and displays, the collection becomes more important. Suddenly, the collection is an emotional touch point for your family that offers a positive and fun connection for all.
Photo Credits: Zane Selvans
Originally posted 2011-04-22 03:56:05. Republished by Blog Post Promoter
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The Benefits of Collecting New Coins When people think of coin collecting, they think about some of the oldest coins that they can find. They think about all of these rare coins and coins with value, intrigued by their rarity and their history. These people often skip out on collecting new coins for their coin collection,...... -
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December 21st, 2011 — Mint Sets, Old Coins
There are some individuals who are going to collect nothing but old money, completely ignoring any of the money that is currently in circulation. There are others who focus solely on the money that is readily available, planning for a future collection. There are merits to both sides of collecting, with many bridging the gap and collecting both types of money. It is important for all collectors to take a look at both collecting old money and collecting new money. Those who look into the pros and cons of both sides of this coin collection will see how they should make both a regular part of their collection-growing efforts.
Old money has consistently been the type of money that individuals collect. People are constantly looking for old money because it is not minted anymore, making it somewhat rare. There are some old money pieces that are more rare than others, making coin collecting somewhat interesting. People like the idea of trying to find rare coins, and get excited when they finally manage to bring it to their collection.
Coin collection in terms of old money can be incredibly difficult and expensive, however, creating the one major drawback of this style of collecting. Those who focus on nothing but old money will find high prices for the coins that they are interested in. This is the type of coin collecting meant for those who have larger sums of money.
New money is always going to be an interesting way to collect coins and paper money, as it is readily available. This type of collecting is perfect for those who do not have a lot of money, as it still allows them to create a collection that may have future value. This is generally where foreign currency comes into play – people generally collect money from any foreign trips or vacations that they have taken. This collection has special meaning and may one day have actual value.
This is the large and glaring problem that those who only collect new money have with their future collection. While some of these pieces will eventually have value, most will be somewhat worthless in terms of value by coin collectors. If you are going to collect new money you should realize that the collection is more about personal value than it is about possible future value.
Those who are focused on immediate wealth and the thrill of having something rare are going to want to focus in on collecting old money. Those who want to have an easier time collecting, holding pieces that will eventually be sought after, should focus on new money. This is why it is important for many collectors to focus on both old money and new money. Whether it is foreign currency or US Currency, both old and new can come together to help create the perfect collection.
Photo Credits: Svadilfari
Originally posted 2010-12-13 06:57:11. Republished by Blog Post Promoter
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December 19th, 2011 — Coins, Dollar Coins, For Beginners, Getting Started
The hobby of coin collecting has really taken off lately. The reasons why people have gotten started has varied between the fact that they like the history of the coin to enjoying the appearance to being serious collectors or investors. One of the many different ways people like to collect coins is to choose a specific kind of coin to collect. One such coin includes the dollar coin. There have been many different variations of the coin over the years with many different valuations placed on the different kinds of coins.
The kind of dollar coin collection you will have will depend on what kind of collector you are. Many will tell you that there is no set which is complete without one of the Morgan dollars being in presence. Others will tell you there is no point in collecting unless you are able to get mint quality coins. Once again, the kind of dollar coin collection you have will depend on your budget and why you are collecting in the first place. This will help you to make sure you are getting exactly what you are looking for.
Collections with a Morgan Dollar
The Morgan Dollar is fairly easy to come by and you can get it for a decent price. The reason why the Morgan Dollar is important to a collection is because of the fact it is becoming rarer as the years go by. It used to be the coin was used in everyday transactions. The problem was that in the time it was used, it was heavy to carry around a bunch of coins for spending currency. Many turned in the Morgan Dollars to get lighter paper currency almost as soon as it was made available in the banks.
Collecting Mint State Coins
The state of any coin will increase or decrease the value of the coin. This is why many will say there is no reason to have a dollar coin collection unless you can use all mint state coins. The problem is that as the coins become rarer, it becomes almost impossible to be able to get a coin in mint state. If you are collecting dollars which include the modern coins, it is recommended you make sure you not only have them graded but that you have them put in a protective slab to keep them in a mint state.
A Collection for Any Budget
As mentioned above, it is possible to buy coins in all different states. This means it is possible for you to get coins of little value over the face value. You can also start a collection with nothing but the coins which are being produced right now. As long as you make sure to protect them from being scratched or damaged, there is a good likelihood the coin will increase in value within your lifetime. If nothing else, you will be able to remember when you got the coin.
Photo Credits: Jake Wasdin
Originally posted 2010-09-24 09:31:19. Republished by Blog Post Promoter
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December 4th, 2011 — Buying and Selling Coins, Coin Certification, Coin Grades, Coins
There are many different kinds of ways that you will be able to find out exactly what kind of coin collection you have in terms of worth. These different methods include the kinds which will allow you to appraise your own collection. This involves making sure that you are getting all of the grades for all of the coins that you have. You will be able to find out even more whenever you get a professional to appraise your collection. Of course, there are a few things to keep in mind whenever you go through this coin collection appraisal process.
Getting a coin collection appraisal is easy to do as long as you are able to first find a professional who will be able to provide you exactly what you are looking for. It is also important to make sure that you are getting your whole collection appraised. You should also prepare your collection exactly the way you would if you were getting ready to sell it to another collector. This will help you to be able to get everything that you will need so that you will be able to know exactly what it is that you have in your collection that you will be able to sell.
Finding an Appraiser
Whenever you are looking to get a coin collection appraisal, it is important that you will be able to get everything that you are looking for with authority. This is why you should seek out the help of those who have a reputation for knowing everything about coin collections and have a great ability to be able to understand exactly what the value of each item is. You can look through other collectors as well as online to find an appraiser which will suit your needs.
Getting the Whole Collection Appraised
To make sure that you are getting everything that you can out of the appraisal, it is important to not remove anything from what will be appraised. They might be able to offer you insight into pieces you have no intention of selling. It can allow you to be able to know exactly what you have in your collection. Even seasoned collectors can find out that they have a forgery in their collection once they try to get it appraised. This will help you to not cherish something which is a lie.
Preparing Your Collection
Of course, whenever you are looking to find out the exact dollar amount that your collection is worth, it is important that you prepare everything as if you were getting ready to sell it. This includes getting together any kinds of documents or presentation cases which go along with the coins that you are having appraised. This will help you to be able to get everything that you will need out of the coin collection appraisal. They will be able to appraise it exactly as someone who is likely to buy from you will appraise it.
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Originally posted 2011-08-11 07:02:10. Republished by Blog Post Promoter
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