Old Rare Coin Guide

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

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

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

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

There are a few different ways in which you can build a coin collection. You can pick up a few pieces which are worthwhile to you that will be valued in the hundreds to those in the thousands. While it is possible to buy coins which are valued in the low dollar amount, it is possible also to purchase such coins as the 1804 silver dollar draped bust which was last sold at auction for $10.1 million. The choice is your but you will have to shop in the right places to get the coins that you want the most.

Getting the coins that you want will depend less on the amount that you are willing to spend and more on the amount that you are willing to search for the coins that you want. The more you are willing to look for the coins that you want, the better your chances are that you will be able to find them at the prices that you are looking for. You can also get in good with the local coin shop. Another great way to get the pieces you are looking for is to get in touch with the other private collectors that you know.

Online Auction Sites

There are few online coin auction sites which will allow you to get the silver coins that you need in order to get the collection that you want. These sites are sites which are sponsored by such organizations as the American Numismatic Association (ANA) look for members on the site which are in good standing with the ANA as well as with the rest of the people who buy and sell on the site. This means you will have a good chance of getting the coins you want even though you did not get to see them in person.

Local Coin Shops

Shopping regularly at the local coin shops is a great way that you will be able to get the coins that you are looking for at a price you can afford. While you will most likely pay a little bit more for the silver coins you are looking for, you will be able to get the coins as soon as they come on the market. This is because store owners are in the business of making money. If they get a piece they know you will buy, they will call you to tell you about it.

Private Collectors

The most difficult source to buy from is a private collector. This is because they know what they have and they want to make some money when they sell the coin also. They will have a set price that they will not go beneath. This means you will likely pay more for the silver coins you want, but you will at least know where to find them.

Photo Credits: woody1778a

Originally posted 2010-09-10 09:48:00. Republished by Blog Post Promoter

When one is interested in coins to the point that they want to become a numismatist, or coin collector, there are many things they need to know. Some basis numismatic knowledge can help a new coin collector get their collection off to the right start. Knowing the basics can also help new collectors with a wide range of issues such as not making costly mistakes most people make in the beginning when collecting or how to avoid being taken advantage of by those who take advantage of new collectors.

By knowing the basics of what to look for in coins a beginning collector can have more fun collecting because they will not be worried about making bad investments into coin they do not want or even fake coins. Knowing some basics about the best paces to look for a coin and the worst places to look can help a new collector on the road to assembling a coin collection that they can be proud of and that will grow in value as times goes by.

Coin Grading

Some of the most important pieces of information that any new coin collector needs to know is that regard the coin grading systems. This information is important because the values of collectable coins is directly associated with the grade that the coin has been given. There are several factors that determine the grade a coin is given. Some of the factors include the age of the coin, the condition of the coins, and how rare it is in the current collectable market. There are a few factors which are examined by all reputable coin graders. These are how well the coin has been preserved, the strike, color of the coin and the luster of the coin.

Coin Grading Systems

There are professional coin grading systems which are used by most coin collectors in order to determine the true value of the coins they have in their collections. These grading systems can also help to determine the value of coin which is for sell to collectors. Most coin collectors in the United States use a coin grading system called the Sheldon System. This is a system which was developed by Dr. William Herbert Sheldon who back in the 1940s. The system divides into several different letter grades based on several factors of the coin being examined by professional coin graders.

Places to Buy Coins and Places to Avoid

When looking for coins to buy and trade you want to try to stick to going to reputable shops which specialize in the buying and selling of coin currency. You can also go to coin trade shows and exhibits which have professional coin collectors and vendors in attendance displaying their coins. The place that you will want to avoid is the internet. While buying and selling several other types of items on the internet can be safe, coin collecting is not as safe. This is because there are several people who will easily pass of fakes or coins which were graded by unrecognized coin graders on the internet.

Photo Credits: One lucky guy

Originally posted 2011-06-01 06:38:11. Republished by Blog Post Promoter

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

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

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

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

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

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