allcoincollection.com

KIDS AND COIN COLLECTING PART I

Admin — Tue, 03 Aug 2010 00:46:19 +0000

The hobby of coin collecting requires very little skill at all. All that is really needed is an interest in coins! Wow, I’m Captain Obvious! At any rate, there are many things to be learned just from holding the coins and taking care of them.

Many kids start by picking up a coin they have never seen before and continue collecting. Because coin collecting requires so few supplies, it makes a great hobby for a child to start and carry with them throughout their life. Children of any age can start and gain great knowledge from these little pieces of metal.

As we have touched on before, there are many educational opportunities that await a child who becomes interested in coin collecting. Let’s look at those advantages!

They can improve their reading ability.
Most general references on coins are written in fairly simple language so the child can accept a reasonable reading challenge. Visiting Internet sites dealing with coins will again challenge a child to read. It’s a necessary skill if you want to be a serious coin collector. Most children improve their reading ability when reading becomes personally important to them.

It will improve their comprehension.

Coin collecting has its specialized vocabulary. Even at the entry level, the collector will want to remember many specialized terms. To get the full meaning from an article the child may need to consult a dictionary. For coin collectors there is a need and a good reason to remember what you’ve read. The moment a child realizes information is important they will find a way to remember it. You need only watch them play video games to see this!

They can hone their organizational skills.
Coin collectors are always checking references, price lists and information provided on the Internet. The collector must be organized, as this trait is an important part of the hobby. Necessary information must be readily available and kept up to date.
Self-confidence will rise.
Kids know the difference between learning and spending time in school. Learning about coins can be a life-long hobby and a continual process. The child will know they are making progress and gathering knowledge that is both interesting and obviously valuable. It is difficult for any child to feel in control and in charge. Coin collecting provides this opportunity.

Coin collecting will instill a sense of pride inside them.
A feeling of genuine pride is not easy for a child to obtain. Receiving praise for schoolwork or sports accomplishments is often seen as a superficial pat on the head. Pride must be generated from within. Coin collecting is not something everyone does and knows about. The child can take pride in independently learning about coins and being involved in a special activity that is obviously important to adults and will baffle peers.

Accumulate Your Coin Collection

Admin — Thu, 18 Feb 2010 02:26:17 +0000

As we’ve said before, the easiest way to start collecting coins is to focus on those coins that are still in circulation. This is probably the easiest way of obtaining coins since we use them every day. We’ve outlined some ways you can use in-circulation coins to start your collection.

You may, however, want to branch out into out of circulation coins. If that’s the case, finding them requires a little more work. But don’t worry – the sources are out there!

Dealers with their own coin shops can be good resources for information as well as coins.
Attend some coin shows. Here you can shop from several dealers at once. The selection will obviously be better than at most shops, and you may be able to get better prices due to the presence of competition.
Coins can be purchased from many dealers through the mail. Check any of the periodicals listed below for advertisements. Unfortunately, it is all too common to receive over-graded and/or problem coins from some mail order sources. Make sure the source has a reasonable return policy before ordering, examine the coins carefully on receipt to ensure they’re satisfactory (get an opinion from a more experienced collector/dealer if you are unsure), and return them if they are not.
Hundreds of dealers offer coins on the Internet and online services, including many of the conventional mail order advertisers. Again, make sure the source has a reasonable return policy before ordering, examine the coins carefully on receipt to ensure they’re satisfactory (get an opinion from a more experienced collector/dealer if you are unsure), and return them if they are not. Also, watch out for the occasional scam artist who may pocket your money and not send anything in return.
You will also want to try auctions. This will include live auctions as well as those conducted online such as on e-bay.
The rarest and most expensive coins are often available only at auctions promoted by major specialty auction firms. These are generally in larger cities.
Numerous auctions are conducted online. In some of them anybody can offer coins to the highest bidder. Before bidding, check feedback on the seller, if the auction service makes it available.

SOME FUN FACTS ABOUT COINS PART II

Admin — Thu, 19 Nov 2009 19:47:48 +0000

When the U. S. Mint was established the law required that all coins be made of gold, silver or copper. For a considerable period of time afterwards, gold was used in the $10, $5 and $2.50 pieces, silver was used to make the dollar, half-dollar, quarter, dime and half-dime while the penny and half-cent coins were made of copper.
In 1933, during the Great Depression, the U.S. Mint stopped making gold coins altogether. In 1965, as a result of a severe silver shortage, Congress dictated that silver no longer be used in making quarters and dimes. In addition, the silver content of the half-dollar (previously 90%) was reduced to 40% in 1965 and then eliminated entirely in 1971.
As previously mentioned, all of these coin denominations are now composed of copper-nickel clad with an outer layer of a 75% copper, 25% nickel alloy and a pure copper core. Nickels are made of the same copper-nickel alloy but without the copper core.
The penny’s composition was altered in 1982 from 95% copper 5% zinc, to the current 97.5% zinc, 2.5% copper mix. This was done as a cost cutting measure and to make the penny lighter in weight.
The 25-cent (quarter), 10-cent (dime), five-cent (nickel) and one-cent (penny) pieces are the coin denominations commonly in use today in the U.S. Half-dollar and dollar coins continue to be issued but rarely circulate in everyday commerce. Foreign coins exist in all sorts of denominations, so it’s impossible to list them all here.
U.S. coin denominations issued in the past but no longer in use include the half-cent, two-cent, three-cent, and 20-cent copper pieces and a small silver coin called a half-dime. Gold coins in denominations of $1, $2.50 (”Quarter Eagle”), $3, $5 (”Half Eagle”), $10 (”Eagle”), and $20 (”Double Eagle”) were issued from time to time from 1793 until 1933.
Silver half-dollars have been minted in large quantities since 1793 and peaked in popularity with the introduction of the Kennedy half-dollar in 1964. Silver-less half-dollars were first introduced in 1971.
Silver dollars have been issued at various times since 1793, were discontinued in 1933, and then re-introduced in 1971 in the form of the silver less Eisenhower dollar. The Eisenhower dollar was replaced in 1979 with the silver less Susan B. Anthony coin, in honor of the famed women’s suffrage pioneer.
A new dollar coin replaced the Susan B. Anthony coins. That coin portrays Sacagawea, the Native American woman who contributed to the success of the Lewis and Clark expedition. The coin is golden in color and made from a manganese brass metal alloy.
In addition to the above, various so-called “commemorative” coins have been issued from time to time in various denominations to honor a particular noteworthy person, place or event. The first such coin was issued in 1892 to commemorate the World Columbian Exposition in Chicago. These coins are usually made in limited quantities, sell at a premium and rarely circulate as normal coinage.
With the exception of commemorative coins and the Susan B. Anthony dollar, U.S. coins currently minted portray past famous U.S. Presidents. These coins are the Lincoln penny, introduced in 1909, the Washington quarter, first issued in 1932, the Jefferson nickel, adopted in 1938, the Franklin D. Roosevelt dime, introduced in 1946, and the Kennedy half-dollar, which was first minted in 1964.
In 1792, Congress required that all American coins show on one side “an impression emblematic of Liberty, with an inscription of the word Liberty, and the year of coinage”. This requirement has been followed since.
The phrase “In God We Trust” was first used on U.S. coins in 1864. This motto now appears on all U.S. coins.
In 1999, the design of the U.S. quarter changed. Reverses of circulating quarters will be replaced with designs representative of each of the fifty states. Each year from 1999 through 2008, five different quarters, commemorating five states will be issued in the order in which the states ratified the Constitution or were admitted to the Union. These “State Quarters” are intended for general circulation but special silver proof coins will also be sold to collectors.
The coins of other countries can reflect many different images including animals, scenes, famous buildings, and more. They often reflect the history of the country and are interesting for the novice collector because of their uniqueness.

The first international convention for coin collectors was held in August of 1962 in Detroit, Michigan. It was sponsored by the American Numismatic Association and the Canadian numismatic Association. It was estimated that over 40,000 people attended this first convention

As you can easily see, this hobby is a very popular one and the numbers are sure to be growing every day as interest is piqued. Now that we’ve got some facts about coins in general, let’s look specifically at the art of numismatics beginning with the terms you’ll need to know.

Coin Collection-What is Best To Collect, Part II

Admin — Sun, 14 Jun 2009 04:38:06 +0000

For many years the U.S. Mint has sold annual sets of proof coins. These “regular” proof sets usually contain one proof coin of each denomination minted. In 1983, 1984 and 1986-97, Prestige Sets were also sold. Prestige Sets include all the coins in the regular set, plus one or two commemorative coins issued the same year.
Since 1992, the Mint has also offered Silver Proof Sets, which include 90% silver versions of the proof dime, quarter(s) and half dollar.
From 1992 through 1998, the Mint also offered a Premier Silver Proof Set. The two types of silver proof sets contain the same coins, with the premier set housing them in fancier packaging.
You could also collect slabs. A certified coin, or slab, is a coin that has been authenticated, graded and encased in a sonically sealed, hard plastic holder by a professional certification service. The holder affords protection from subsequent wear or damage but is not airtight and therefore will not prevent toning. Because any tampering with the holder will be obvious, it also prevents replacing the certified coin with something else.
Counterfeit and altered coins slabbed by major certification services are not unknown but are uncommon. The authenticity of a coin may be guaranteed by the company that slabbed it. Therefore, a coin slabbed by a major certification service offers some protection, especially when fakes are known to exist and the prospective buyer is not able to reliably determine its authenticity.
As we will discuss later, grades are opinions. The same coin may receive different grades if submitted to different services or even if “cracked out” and resubmitted to the same service. Furthermore, grading standards for some uncirculated coins have changed since slabs were first produced (1986), so a coin in an early slab may receive a different grade if resubmitted now.
The grade indicated on a slab represents the opinions of no more than a few persons who examined the coin at the time it was submitted, and not the final word on the subject. As a result, slabbed coins given identical grades may have different market values. Whenever possible, buy the coin, not the holder.
Prices range from $7.50 to $175.00 per coin, depending on the service and turnaround time, plus shipping costs in both directions.
The skills and equipment needed to encapsulate coins in slab-like holders can be acquired more easily than the expertise needed to accurately authenticate and grade coins. Holders from the services listed above are not the only types that appear in the marketplace.
However, slabs from some “services” may not be regarded by experienced numismatists as legitimate and may not even be backed by a guarantee of the coin’s authenticity. Learning about the service’s reputation and soliciting other opinions about a coin’s condition may save you from paying considerably more than its true market value.
Some collectors concentrate on world coins. This is the term given to collections of relatively recent modern coins from nations around the world. Collectors of world coins are often interested in geography. They can “travel the world” vicariously through their collecting.
A popular way to collect world coins is to acquire representative examples from every country or coin issuing authority. Some collect by subject. This could be finding coins from around the world that feature animals.
Because world coins are usually very inexpensive, this may be a good starting point for children. Many children find foreign coins by looking under change-to-cash machines where customers throw away assorted coins found in their penny jars. Some of these can be from Canada, South Africa, or Mexico.
We do have a section on getting kids started in coin collecting, so there’s much more information there about this aspect of coin collecting.
Here are some other suggestions on ways to categorize your coin collection and focus your efforts.
• Collect coins of a specific country or group of countries.
• A collector by type or series aims to acquire one of each type or series of coins, for example, U.S. gold eagles or Lincoln pennies.
• You may wish to concentrate on coins made of a particular metal such as gold or silver coins.
• Consider collecting coins with a particular theme such as coins with animal designs, boat designs or various commemorative coins such as Olympic coins.
• Some collectors focus on coins issued with some error in the coin’s design, composition, date or inscription.
• Another specialty is the collection of non-monetary “coins” such as war medals and commemorative tokens.
• Save a penny, nickel, dime, and quarter from the year you were born. Try to find one from each mint. Coins from the Denver Mint in Colorado and the Philadelphia Mint in Pennsylvania are different.
• Create a coin set from every year since you were born. Try to find them from both mints.

• Find coins from around the world. Locate their countries on the map. Learn what the coins’ pictures mean to that country.

It’s all really up to you what and how you collect your coins, but as we’ve said before, don’t start by collecting in too many styles – it could be overwhelming. Start small with one kind of collection and expand as you become more proficient.

Coin Collection-what is the best to collect

Admin — Wed, 06 May 2009 02:51:03 +0000

What to collect is entirely up to the collector. It will normally be a specialization that holds some interest for the collector and is within his or her budget.
Among the most popular types of collections are world coins (coins from several countries), ancient coins, and coins of a particular country. Some specialization within these categories is ordinarily helpful. If collecting from a particular country, you can work on one or more series, a type set, commemoratives, errors, die varieties, paper money, etc. You may also want to set bounds on the grades of coins you collect, e.g. all G-VG, VF or better, or un-circulated.
You could collect an entire series. The goal of a series collector is to acquire one of each date and mintmark made, usually including any major design differences. For example, the U.S. Standing Liberty quarter was produced from 1916 to 1930 at the Philadelphia, Denver and San Francisco mints (coins were not made at all three mints every year, and none were produced at any mint in 1922); a major change to the obverse was made in 1917, and the full set is generally considered to include both designs for that year from each mint.
A collector building a type set seeks to have one of each series and major design variation within each series. Examples would be 20th century Canadian coinage or U.S. gold coins.
You may choose to focus on ancient coins. That is coins that were minted prior to 500 A.D. Many of these are in a theme and that is one way to focus your collection. Experts say that the gold, bronze, and silver coins of the ancient world are actually quite readily available today and can be had for not a huge investment.
Tokens are also popular with collectors. When the government ignored the needs of the people and refused to issue sufficient low value coins the traders took matters into their own hands and issued tokens. In Great Britain this took place in the mid 1600’s, the 1790’s and the 1810’s. These formed a local currency and it took several acts of Parliament to ban them. The bans were never completely successful and ‘advertising tickets’ continued to be issued through the mid 1800’s. These were conveniently the same size as farthings, the coin still in very short supply, and undoubtedly circulated as such.
By the end of Queen Victoria’s reign the need for tokens had gone but there were all sorts of other similar pieces being used. Pubs issued checks but because they were such an everyday occurrence nobody thought the record how they were used!
The co-operative societies used checks to record the value of purchases made so that the correct amount of dividend could be paid. Fruit pickers received tallies to depending on the quantity of fruit picked. The most recent use of tokens is probably the ones used in gaming and vending machines, as well as the one used by the many transport undertakings.
Although less valuable than coins, tokens are nevertheless much more interesting if you are interested in local history and like to do research.
You may want to look into collecting proof sets. Proof coins are specially manufactured for sale at a premium to collectors and sometimes for exhibition or for presentation as a gift or award. Proofs are generally distinguishable from ordinary coins by their mirror-like fields, frosty devices (especially in recent years) and extra sharp details.
To obtain these qualities, each proof coin die is polished to produce an extremely smooth surface and used for a limited number of coins. Planchets are hand fed to the coin press, where they are struck at a higher than ordinary pressure. Struck coins are removed by hand with gloves or tongs. Modern proof coins are usually packaged in clear plastic to protect them from handling, moisture, etc.

COIN COLLECTION-FACTS ABOUT COINS

Admin — Sun, 15 Mar 2009 01:09:58 +0000

There are approximately $8 billion worth of coins circulating in the U.S. today. In the past 30 years, the U.S. Mint, who is responsible for designing and producing the nation’s coins, has minted over 300 billion coins, worth about $15 billion!
Since its creation in 1792, the U.S. Mint has grown into a large enterprise with more than $1 billion in annual revenues and 2,200 employees. It is by far the world’s largest manufacturer of coins and medals, producing coins not only for the U.S. but on behalf of several other countries as well.
It can be interesting to know how coins are minted. In order to make coins, the U.S. Mint purchases strips of metal (rolled into coils) in the proper dimensions and thicknesses.
Zinc metal strips coated with copper plating are used to make pennies. Strips used for nickels are comprised of a 75% copper, 25% nickel metal alloy. Dimes, quarters, half-dollars and dollar coins are produced of strips consisting of three metallic layers fused together. The outer layers of these strips are comprised of the same alloy as that used for nickels with the third (core) layer being comprised of copper.
The first step in the coin making process involves the feeding of the metal strips through what is known as a “blanking” press. This press punches out cut round discs (blanks) about the same size as the finished coin. These blanks are then heated in a furnace to soften them. Subsequently, the softened blanks are placed in rotating barrels of chemical solutions to clean and polish the metal. The cleaned and shiny blanks are then washed and dried.
Next, the blanks are sorted to remove any defective ones and the rest are put through an “upsetting” mill which raises a rim around their edges. The rimmed blanks then go to the coining or stamping press where upper and lower dies stamp the designs and inscriptions on both sides of the coin simultaneously. At this point, the blanks become genuine U.S. coins.
Finally, the finished coins are mechanically counted and placed into large canvas bags for shipment to the Federal Reserve Banks. From there they are shipped to local banks on an as-needed basis.