Old coins that is. Try looking under that old dresser, or up the attic where grandma or grandpa’s things may be stashed away patiently waiting for you to discover them. Who knows, you might find a coin there, an old coin that – at today’s rate - may be worth a few dollars; probably three or four or five, even ten times what the coin was worth back then.
A penny a day, is worth okay
Fortunately or unfortunately, there was a shortage of copper during the year 1943 and all pennies made at that time were minted using steel. There were however, some Lincoln pennies that were incorrectly minted on bronze that turned out to be blanks. A few years – or decades later -these bronze pennies became a rarity and are valuable. The steel ones though, because of their commonality, are worth only between one to three dollars each.
Be aware and be wary as there are schemes where gullible coin collectors are sold coins that are copper plated in an attempt to make these pennies appear to be bronze. Also, keep your guard up anytime someone offers you a circa 1943 penny made out of a metallic white alloy.
Old coins are good coins
Coins, specifically the silver dollars made and circulated between the years 1878 and 1935, are worth between twelve dollars and twenty five dollars for the circulated coins. The coins that were not in circulation are worth considerably more.
Meantime, those quarters, dimes, or half dollar coins made and circulated prior to 1965, are usually made out of ninety percent silver and therefore worth as much as today’s silver (with an additional premium, albeit small, put on the coin’s face value).
Wrong pennies are right
There is a Lincoln penny issued in 1972 on which the date and the letters on it appear to have been doubled. This rare coin is currently worth about sixty dollars, assuming the pennies are in standard condition. The Philadelphia Mint during that time period accidentally misaligned the die used in minting the coins causing the portrait of Lincoln to look like it was doubled. Fortunately or unfortunately, eighty thousand of these were circulated before the error was discovered.
In summary, coin collecting is similar to collecting bits of history and trivia from the past. In addition to the face value its worth as a treasure - pennies, dimes and coins – often are worth more in the long run.
Monday, February 25, 2008
Monday, February 18, 2008
Coin Collecting Album: A Pocket for Your Coins
For every numismatist or coin collector, finding a good place to store their coins is the most important thing in this world because storing their precious coins in a good and secure place will ensure that the quality and value of their coins is maintained...
There are many types of storage spaces that can help you by displaying and storing your coins. You can either use folders, holders, plastic tubes, or the album, but among these reliable storage spaces, the coin collecting albums are the best way to display the coins.
If you want to know why, here are some benefits of albums and you can evaluate the concept from there:
1. Two-way image viewing
With coin collecting albums, you can get more satisfaction viewing your collections because albums let you see both sides of your coins. You do not have to remove your coins every time you want to see the opposite side. Therefore, albums give you the best of both worlds.
2. Better defense against instant wear
Another benefit of albums over folders and other coin storage is that it gives the coins better defense against harmful elements that will expedite the deterioration of the coins.
Albums are generally characterized by the use of plastic materials that serve as shield against scratches and environmental factors.
3. Good coin holder
Albums provide pockets for coin storage. The best thing about using a pocket is that even “dilapidated” coins or extremely worn coins are better protected.
Worn out coins, when placed in folders, have the infuriating tendency of falling out over and over again. With coin collecting albums they are kept intact.
4. Variation in prices
Albums that are used in coin collecting are usually priced from $20 to $40. Even though they can be expensive, they provide better storage for your most-prized treasures. Paying the price for an album is a great alternative to the other typical types of storage.
5. Information center
Coin collecting albums are great “information centers” as far as the hobby is concerned because most of the albums that are used in collecting coins have an inside front cover that allows you to place important information regarding your collection. It also has a back cover that provides space for your “mintage figures.”
Coin collecting is easier and more pleasant with the help of these albums. It makes your treasures last longer, thus, establishing greater value in them.
Therefore, coin collecting albums are definitely the best “keepers” for your coins.
There are many types of storage spaces that can help you by displaying and storing your coins. You can either use folders, holders, plastic tubes, or the album, but among these reliable storage spaces, the coin collecting albums are the best way to display the coins.
If you want to know why, here are some benefits of albums and you can evaluate the concept from there:
1. Two-way image viewing
With coin collecting albums, you can get more satisfaction viewing your collections because albums let you see both sides of your coins. You do not have to remove your coins every time you want to see the opposite side. Therefore, albums give you the best of both worlds.
2. Better defense against instant wear
Another benefit of albums over folders and other coin storage is that it gives the coins better defense against harmful elements that will expedite the deterioration of the coins.
Albums are generally characterized by the use of plastic materials that serve as shield against scratches and environmental factors.
3. Good coin holder
Albums provide pockets for coin storage. The best thing about using a pocket is that even “dilapidated” coins or extremely worn coins are better protected.
Worn out coins, when placed in folders, have the infuriating tendency of falling out over and over again. With coin collecting albums they are kept intact.
4. Variation in prices
Albums that are used in coin collecting are usually priced from $20 to $40. Even though they can be expensive, they provide better storage for your most-prized treasures. Paying the price for an album is a great alternative to the other typical types of storage.
5. Information center
Coin collecting albums are great “information centers” as far as the hobby is concerned because most of the albums that are used in collecting coins have an inside front cover that allows you to place important information regarding your collection. It also has a back cover that provides space for your “mintage figures.”
Coin collecting is easier and more pleasant with the help of these albums. It makes your treasures last longer, thus, establishing greater value in them.
Therefore, coin collecting albums are definitely the best “keepers” for your coins.
Wednesday, February 6, 2008
The Perfect Time to Sell Coins
When is the perfect time to sell coins? This may be a dumb question if asked of a coin collector however timing really does make a difference. There are times when a collector wakes up in the morning and suddenly makes a decision to sell his precious collection of coins. There are also times that a collector needs to give up his coin collections due for personal reasons and the idea of selling his precious coins may be the most difficult part. No matter what the reasons are, it is a fact that this does occur in the life of a coin collector.
There are many reasons why coin collectors sell their coins - there are coin collectors who are dealers at as well. Selling coins is their option and they may use it to generate income so that they can acquire other coins that they like.
Some collectors travel in search of a coin they want and during that travel, they may encounter coins that may not be qualified for their own collection but they buy them anyway. Upon returning home, they sell the coins they have purchased and make use of the money to buy the coins they are looking for.
There are also coin collectors who gather coins not just as their hobbies; these coin collectors use the coins as their source of income. They make a living from selling the coins that they collect. Sometimes they sell the coins to other collectors and price them higher than the usual price of the coins and this is appropriate if the collector owns limited edition or rare coins.
On the other hand, some collectors sell their coins because of other factors. They may sell coins because of personal reasons. Collectors sometimes decide to “give away” their collection because they no longer have any option but sell their coins. This is the most difficult situation for coin collectors as they often value their coins and as much as possible would not want to give them away - the coins may be memorabilia or may have sentimental value to the collector.
Once a collector has decided to sell his coins, he must consider if it is really the right time to sell the coins. Is the collector ready to give away his coins? Is the coin at higher price now? Will it do well and will he benefit from selling his coins? These factors should always be considered.
There are other options available to determine where a coin collector could sell his coins. He may want to sell the coins at auctions. Many people now prefer the option of putting their belongings up for auction and this is not limited to coin collections.
There is also a higher chance of having the coin sold at a higher price since auctions include bidding processes. Buyers may bid for a higher price especially if the coin being sold is of rare quality and has a higher value.
A collector may also want to put up a website to advertise the coins that he would like to sell. The Internet is the easiest way for collectors to search for coins. In addition, putting the coin on the Internet will make the selling an easier task. The collector may put up his own website and place the pictures of his coins and some brief descriptions on it. He should also note how much he is willing sell them for.
There are other options too: the seller may want to do a dealer-to-dealer negotiation. He can go directly to coin dealers and sell his coins. The dealers then can sell the coins that they purchased to other dealers.
It is important to compare prices between one dealer and another as there is always a chance that one dealer may buy the coins at a higher price than other dealer. It is wise to shop for dealers and then decide which you one you want to deal with.
It is also recommended that collectors who decide to sell their coins use a coin grading service. It is very important so that the seller not end up a loser when he sells his coins. By using a grading service, the seller will be able to set a price that is based on the assessment made by the grading service who will determine the actual value of the coins.
Most importantly, coin collector should not clean their coins once they have decided to sell them. If they do, the value of the coins will depreciate.
There are many reasons why coin collectors sell their coins - there are coin collectors who are dealers at as well. Selling coins is their option and they may use it to generate income so that they can acquire other coins that they like.
Some collectors travel in search of a coin they want and during that travel, they may encounter coins that may not be qualified for their own collection but they buy them anyway. Upon returning home, they sell the coins they have purchased and make use of the money to buy the coins they are looking for.
There are also coin collectors who gather coins not just as their hobbies; these coin collectors use the coins as their source of income. They make a living from selling the coins that they collect. Sometimes they sell the coins to other collectors and price them higher than the usual price of the coins and this is appropriate if the collector owns limited edition or rare coins.
On the other hand, some collectors sell their coins because of other factors. They may sell coins because of personal reasons. Collectors sometimes decide to “give away” their collection because they no longer have any option but sell their coins. This is the most difficult situation for coin collectors as they often value their coins and as much as possible would not want to give them away - the coins may be memorabilia or may have sentimental value to the collector.
Once a collector has decided to sell his coins, he must consider if it is really the right time to sell the coins. Is the collector ready to give away his coins? Is the coin at higher price now? Will it do well and will he benefit from selling his coins? These factors should always be considered.
There are other options available to determine where a coin collector could sell his coins. He may want to sell the coins at auctions. Many people now prefer the option of putting their belongings up for auction and this is not limited to coin collections.
There is also a higher chance of having the coin sold at a higher price since auctions include bidding processes. Buyers may bid for a higher price especially if the coin being sold is of rare quality and has a higher value.
A collector may also want to put up a website to advertise the coins that he would like to sell. The Internet is the easiest way for collectors to search for coins. In addition, putting the coin on the Internet will make the selling an easier task. The collector may put up his own website and place the pictures of his coins and some brief descriptions on it. He should also note how much he is willing sell them for.
There are other options too: the seller may want to do a dealer-to-dealer negotiation. He can go directly to coin dealers and sell his coins. The dealers then can sell the coins that they purchased to other dealers.
It is important to compare prices between one dealer and another as there is always a chance that one dealer may buy the coins at a higher price than other dealer. It is wise to shop for dealers and then decide which you one you want to deal with.
It is also recommended that collectors who decide to sell their coins use a coin grading service. It is very important so that the seller not end up a loser when he sells his coins. By using a grading service, the seller will be able to set a price that is based on the assessment made by the grading service who will determine the actual value of the coins.
Most importantly, coin collector should not clean their coins once they have decided to sell them. If they do, the value of the coins will depreciate.
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