How to Take Care of Collectible Coins

There are collectors that specifically find classic editions of coins that existed during the period from 1892 to 1954. These coins have marked events or may signify the work of royalty during that period. There are those collectors that prefer the modern series that are very distinct as well. One modern collection is that of the quarter dollars that represent the 50 states of the US. Minting and circulation started in 1999 and will continue until 2008. These are specially made editions available for collectors.

Many collectible coins are made of copper and a collector may encounter problems in maintaining their features and appearance. A person collecting this type of coin should learn how to maintain and take proper care of these expensive collections. Copper coins should be cleaned correctly and must be preserved the same way professional collectors treat their coins.

Professional collectors clean their coins by the process of placing the coins in a container that is airtight. This is a safe way to preserve the features of the coins. Because of the coins’ years of circulation, there is the possibility of a coin accumulating encrustations, coatings, dirt, and other problems on a coin’s face. These accumulations may cause pitting and corrosion to the surface of the copper coin. The corroded portions should be removed properly without making any scratches.

There are products available that are made especially for coin cleaning. Coin suppliers have these products that are specifically made for coin maintenance and cleaning in stock. One product made for this purpose is MS70 which removes corrosion and other surface dirt. It is advisable to use rubber gloves for the protection of your hands, as MS70 can dry the skin but this should be of little concern because it is not that harsh on the skin. A soft toothbrush may help with cleaning and removing any dirt that is in the surface of the coin. Improvement in the appearance of the coin will be seen after it has been soaked and cleaned. If satisfaction is not met on the cleanliness and appearance of the coin, he may add baking soda to neutralize the MS70 and soak it in warm water.

After he is through with the soaking, he may dry the coin using a Blue Ribbon coin cleaner and preservative; he may apply a coat and dry it for a couple of days then wipe the damp parts with soft cotton balls and place it on a small cardboard with a space on the center.
If he finds discoloring on the coin, he may use Dellars Darkener after he has soaked it in MS70. He may use this product before he applies the Blue Ribbon cleaner and preservative until he is satisfied with the cleanliness of his coin. Once satisfied with the new appearance of the coin, he may again return it to its set or collection. The next step would be maintenance and preservation the collection. Here are some tips on how to take care of coin collections:

1. The coin should be protected from exposure to any kind of elements. It is also important not to scratch the coins; they should be handled with care to avoid scratches on the surface of the coins.

2. It is safe to store the coins in plastic cases or pockets that are made specifically for coin collections and sets. These cases and pockets can protect the coins from dirt and scratches.

3. Coins should be cleaned properly using vinegar, lemon juice, ammonia or rubbing alcohol.

4. If there is unwanted dirt that is hard to remove on the surface, chemical products for cleaning like Tarnex may be used. This option may be used if vinegar and lemon juice were not able to remove the dirt.

5. It is very important to remember that the value of the coin may depreciate if the coin has been cleaned. It is recommended to seek the advice of an expert on other ways of preserving a coin

Many coin collectors believe that a person should never ever clean their collection because they believe that any product that is applied to the coin will affect the surface. A person should know how to preserve their collection and avoid dirt from touching the coins.

Coin Collectors Galore: Types or Specialties

If you are a coin collector, how do you categorize yourself?
There are various ways to collect coins as well as the specialties of collectors. Here is how to differentiate the variety of coin collectors.

The Casual Coin Collector: The Most Common One

You will know that you are a coin collector if...
- you collect coins no matter what your age
- you collect coins randomly just for the fun of it
- you do not pay much money for the preservation and purchase of coins
- you will collect some coins that are already obsolete, those that have been modified and are used my magicians, commemorative coins, those with errors, or those that are out of circulation
- your collection is made more interesting because of the coins given to you as gifts

The Curious Collector: The Second Level

You will be able to recognize yourself as a curious collector if...
- you are more interested in coin collecting than simply collecting them because you received them as gifts
- you don't mind buying coins, especially if they are inexpensive
- you are more interested in browsing coin shops than a casual collector
- you spend time surfing the net looking at coins sold on eBay or other coin sites
- you collect coins without a clear-cut objective
- you are inclined to increase your knowledge of coins and might soon contemplate becoming an advanced coin collector as you establish contact with more serious collectors who might inspire you

The Advanced Collector: The Extreme Collector

You can categorize yourself as an advanced collector if...
- you find yourself smitten by the "Hobby of Kings"
- you are either a “generalist” (a collector who wants to obtain a wide variety of coins) if you can to obtain an amazing collection you’re your available resource; a “completist” (a collector who wants to collect a complete set of a specific type)
- you lack resources and will opt for a smaller number of coins to complete a set, if you are a “completist”
- as a “completist”, you prefer collecting coins from a certain historic period, nation, or you prefer collecting tokens or coins with errors.
No matter what level of coin collecting specialty you choose, it is your choice. What is important is that you find it rewarding and fulfilling.

So, have you found your category yet?

Tips on How to Avoid Fraud on Collectible Coins

Many people enjoy shopping online where there are great buys of coins that can be found. A person may prefer do his shopping while he is at home because it is convenient and time-saving instead of going out looking for stores that sell collectible coins and other souvenirs.

A person can differentiate between a live auction and an Internet because an online auction can take several days to complete. They entertain bids for the highest price up until the time the auction is about to close.. Many people that are bidding online enjoy the experience and they may be familiar with the strategies to use to win an online auction.

There are also online sites where a person can buy any item that may capture his interest. This is where most coin collectors purchase their desired coins. By searching and finding the item that they want, they can actually negotiate and make the payments through the Internet. This can be very risky as you are dealer/seller that is unknown to the buyer, yet many people are still making transactions and payments through this kind of online auction.

Fraud is common even though many Internet sites that do business online contend that the risk of fraud is not something to worry about. They contend that only 0.0025 percent of true cases of fraud occur with online transactions - that means only one out of 40,000 listed Internet transactions would be fraudulent. On the other hand, the FBI has their own investigations, which prove that those figures are not true- they contend that the risk of fraud is much higher according to their statistics.

A person should believe the FBI for his own protection. Even if one can say that the majority of online coin selling transactions are honest and credible, the process used to make the transaction most probably is questionable and uncertain. There are business transactions, which are intentionally committing fraud with their clients and buyers. Aside from flea-market dealers, mail-order sellers, in-person auctions and some coin stores, the Internet has introduced the crime of fraud to many people in the easiest way possible.

One protection that a coin buyer should know is how to get “feedback”; that way, a person can see the ratings other bidders give the seller and he may compare his transaction with the transaction of the others. Since there is a great risk of fraud where there is negative feedback, the person may withdraw his participation from the auction if he deems that to be necessary.
A person may also acquire ideas by looking for those members who have left “positive feedback” and compare it to the reaction of the sellers. A person can make an assessment of what could be possible useful information from those reactions. Be careful and precise about any transaction that is offered by the seller.

There are instances where a person is deceived about the item he purchased. The photo shown on the Internet displayed the coin that a person wants to have but they delivered a totally different item. These cases are fraud. A person must make sure that the item he saw on the photo is the exact item that will be delivered to him. Here are some tips that will help a person prevent fraud during a coin search in the Internet.

1. A person should save the online photo of the coin he wants to purchase. Many sellers remove the image and the title of the item once a purchase has been made.

2. A person should get the description and the auction information. It should either be e-mailed to the buyer or sent in writing by mail.

3. If there are suspicions regarding an auction, a person should ask for clarification from to the seller. This will avoid misunderstandings and confusion on the part of the buyer.

4. A person has the right to refuse any transaction where he thinks the price given on the coin is too high. One should be aware of the standard price of the specific coin and compare it to the price that was given during the online transaction.

5. A person can ensure that there will be no fraud by asking the seller, before the auction closes, if there is any available escrow assistance for the bidder.

These are only a few tips that will ensure a person of his safety when making any transactions online. Fraud can happen to anyone, especially those who are interested in purchasing collectible coins online. It is always important to be informed and knowledgeable about the possibilities of encountering fraud.

What Are Factors That Affect The Value Of Coins?

When one is just starting in coin collecting, often the first question is: “What is the value of the coin?: and the answer is that the coin will cost as much as you are willing to pay for it and the amount can vary considerably. For instance, a coin dealer’s offer can be much less than a coin collector that certainly wants your coin badly to add in his collection.

The following are factors that can influence the true value of a coin.

1. Grade or condition of the coin. Your coin will be worth or valued more when it is in good condition. When in a perfect or unblemished mint condition, an “uncirculated” coin will be worth many times more than a similar coin that has been in circulation.

2. The rarity of a coin is the principal basis for a coins value. Generally, the rarer that a coin is found to be, the higher it is priced. Do keep in mind that rarity has very little influence on the coins age. Chinese coins are a thousand years old normally sell for about ten dollars since there are so many of them; while a “1913 Liberty Head Nickel” can sell for up to or over a million dollars because only five specimens are known to be in existence.

3. Bullion value. A coin's precious metal content can determine its value. A platinum, silver or gold coin will not, in general sell for less than the coins value when melted.

4. Demand. There are coins that are greatly in demand; sought after by many collectors, and if that a particular coin is in great demand the price will be even higher. Even comparatively plentiful coins can mandate higher value when they are popular with coin collectors.
For instance, “1916 D dimes” are much more abundant than the “1798 dimes” yet in spite of this, “1916 D dimes” sell for so much more because there are many more individuals collecting 20th century dimes than 1700 dimes.

Here’s how you can determine the approximate value of your coin:

1. Properly, accurately, and correctly recognize and classify your coin, and know the to place value on that coin. You can do this successfully by examining your coin in a catalogue or online with the “coin price guide”; this will give you an idea of the going rate and price of your particular coin and you can determine the approximate value of your coin.
Everyday coin values are changing; so you need to use a “coin price guide” that is updated on a daily basis to obtain the current coin value. Look at online sites that offer step by step guidance on how to recognize your coin the proper way.

2. Grade your coin based on your thorough observation and examination of its current condition.

3. Consult coin catalogues for a list of retail prices in or estimates of your coins retail value. “A Guide Book of United States Coins”, popularly known as "The Red Book" to coin dealers and collectors, provides information on retail coin prices for US coins and is available in libraries, coin shops and bookstores. “The Standard Catalog of World Coins” (in volumes) is a guide commonly used by coin dealers and collectors as well, to provide information on world coins and is available in many public libraries.

You can also check current coin prices by basing it on the actual dealer coin price found in magazines and newspapers or online auctions such as Yahoo, Coin World, eBay or Teletrade.
Always keep in mind that you are not collecting coins primarily for money; you collect for enjoyment and self gratification, and profit is to be last consideration. The plain fact that a certain coin does not have a large monetary value, does not necessarily suggest that it is no longer interesting or fascinating or that it must not be included in your collection.
Each coin will have a certain interest in itself, regardless of the condition that it is in and regardless of its monetary value. There will always be a certain characteristic that will draw you to that particular coin; so when it does, then you should have it in your collection.

Ancient Coins as Collections

Collecting coins is so much fun! It is both a hobby and a source of income for many. One type of coin that you may want to consider collecting is ancient coins. Many collectors hesitate to buy ancient coins to collect because they can be terribly expensive. What is most important is the uniqueness of these coins and the benefits they provide their collectors.

Here are some tips that should be considered when buying ancient coins:

1. Conduct a research of ancient coins. It is important that a collector is aware of what coins are considered ancient. It does not require a collector to go to a library since many websites on the Internet can provide all the information needed to become well-informed about ancient coins.

2. There is a wide variety of ancient coins available for collectors. A collector can choose from different eras and civilizations. He can choose from a Chinese civilization, ancient Rome, Greek, Persian, etc. It is preferable for a collector to focus on a specific group or era when collecting coins.

3. Once a selection has been made, a collector may then focus on the buying of these coins. To start select coins that are least expensive –set a price range such as $20. Once the collection grows, he may then want to start buying the more expensive coins.

4. A collector may also try searching for ancient coins at auction houses or online auctions where ancient coins are available. Always be aware of possible fraud no matter which venue you are using and take extra care in buying coins at online auctions.

5. It is also suggested that the collector make a list of the ancient coins that he would like to buy. He can list them according to his order of preference which will make his search for ancient coins an easier task. Included on his list should be the amount he is willing to spend on a certain type of coin. The list will be helpful whether online or at an auction house, enabling him to manage his budget easily.

6. It is important to have a separate holder for his ancient coin collection or his other collections. Separate holders will help the collector organize and preserve his coins. Ancient coins are generally more expensive than other collectible coins so it is necessary for a collector to know the proper care for them.

Ancient coins should not intimidate coin collectors. They are an exciting way to enjoy the hobby of collecting coins. Not only do they provide fun but they serve as a source of knowledge for many coin collectors.

Have coins? Will collect!

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.

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.