Coin Collecting Club

I hope that the next article will help you to better understand this topic.

When somebody becomes concerned in collection coins they look for places and people who will be able to sell, and in some cases advise them about, coins. The best people to look for when you want to buy coins for a coin collection are coin dealers. These people are also interested in coins but their interest does not inevitably breed into collection these coins.
A strike bargainers will actively look for diverse types of coins. They will make sure that the character of all the coins that they are thought of purchasing is of a high quality. The grading of coins that is exploited will be looked into as well before the coin dealers agree to purchase any coins. These coin dealers will also bargain the coins only at the current market prices as coins are valued at the time of inspection.

When the coin dealers have found the versatile coins that they feel will be of good value and interest to coin collectors the coin dealers will make sure that they have the info about their new stock noted down. This selective information will admit the country of origin, the year that it was minted, the condition of the coin, the current market price and a brief history of the coins if it can be found.

All of these items are of rate to the coin collector because it helps them to realize the time value of the various coins that they are concerned in buying. Coin dealers unremarkably purchase their coins from rare coin auctions, internet coin shops, coin collectors who are interested in marketing their coins for a take in and fairs where coins are sold in packets.

In some cases you can find coin dealers who have specialty coins only. These could be coins from one period of time. For example you will find coin dealers who stock civil war coins or colonial coins. There will also be coin dealers who have dozens of experience in dealing with foreign coins. These coins too will be looked at to make sure that they are in a condition that will receive mint collectors to come and look at the stock.

When you are in need of having your coins valued you will generally want a reputable coin dealer looking at these coins. The knowledgeable coin dealers will be able to give you a fair price for the different coins in your collection unless the coins are worthless… for further information, please check our web site by following our link below…

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According to history, Egyptian King Farouk and Roman emperors were among the first coin collectors. They collected a large number of coins in their palaces and castles. Over the years, the concept of coin collecting has changed and common people have become coin collectors. In fact, the competition between these collectors is quite fierce and this makes the price of rare coins always increase. A single coin can hundreds of thousand and even millions of dollar, which shows that coin collectors will do anything necessary to get the coin that they want.

Coin collecting themes
Some coin collectors are generalists, which mean that they collect bits of everything, but others are very specific and this creates coin collecting themes. The country theme is one of the common ones. The purpose of this theme usually is to collect coins from as many countries as possible. Traveling has become easier nowadays and thus it is easier to collect coins from different countries. Internet and online friend network can also be used to get foreign coins.

A year theme is fairly common as well where coin collectors used the year when the coin was minted as the basis of their collection theme. A variation of this theme is to collect a coin denomination from the first to the last model. When collectors complete all models from a coin denomination, they will continue with other denominations. This theme is closely related with period theme where the basis of the collection is the period when the coin was minted. Common period collections are collecting coins from Victorian era and Greek period.

Prior to the 19th century, coins were hand minted and it was pretty common for coins to have errors. Today, these errors have become one of coin collecting themes as well. Another coin collection theme is mintmark differences between coins. Mintmarks that are rare and difficult to produce will have higher value than the common ones.

Subject, for example like a figure of animals on the coin, can become a coin collecting theme as well. Composition or the type of metals that a coin was made from is another common theme. You will find that it is common for a coin to have two or even three metals combined.

Whatever the theme is, many coin collectors like to compete between each other because they want to outdo their compatriots. They brag when they have completed a rare set of coins that is available nowhere. This situation has made coin collecting a fascinating and an expensive hobby.

People engage in hobbies at all ages and some of those hobbies include collecting interesting and sometimes valuable objects such as rare or foreign coins or rocks or unusual looking junk that poses as interesting conversation

pieces and works of art. Some people are so passionate about their hobbies that they become experts and use their knowledge or talent to earn a living or simply share with others.

Coin collecting is a common hobby, especially among children, with some of them growing into coin dealers that cater to those who share their interest. Coin dealers spend a lot of time

searching and researching and attending coin

shows to find the collectable money with the most value and they use a method called coin grading to determine a coin’s value. The value of a state quarter can vary depending on it’s age, type and wear and tear such as nicks or grooves or if it is worn down around the edges.

Many coin dealers also buy coins, but you should be careful about who you sell them to. A local pawn shop is probably not a good idea, but attending a coin show is a great idea.

Coin grading is available and you can mingle and network with other dealers and collectors.

If you are interested in coin collecting, but not sure where to go or what to collect, quarters are a good start as well as foreign coins and reading publications such as CoinWorld.com will give you information and ideas. I collect mainly state

quarters, but I also hang on to anything I find that is really old, rare, foreign or all three combined.

You should note, if you do not already know, that any collectable money, coin or currency, is not worth more than it’s face value if it is not uncirculated with the exception that an uncirculated coin ends up in circulation and it does happen and a person with a good eye will catch it. I have received a few rare, collectable coins during money transactions while shopping. It’s rare that it happens, but it is very exciting when it does.

Coin collecting can be a lot of fun and lucrative.

When we go to a foreign country we tend to bring some of this change back home with us. These foreign coins might be placed in some safe place until they are needed again or they will be placed in a coin collection. Once these foreign coins have been placed safely in a coin folder you may want to read some information about these coins.

This initial information gathering will be helpful because you will need to have some idea about the worth of these foreign coins. You should also see if you can find information about the coin grading that is used for these coins. When you have found all of this information from coins books and the internet, you will need to make sure that you can find a coin expert who will be able to give you the coin value and information that will make these coins part of your coin collection.

One way of finding the value of these foreign coins is to take them to several coin appraisals where you will be given a fair price for the coins. In addition you can ask these experts about the various grading marks that are used. From this information you will be able to judge the coin worth of these foreign coins of yours.

After these foreign coins have been valued you can decide if you want to sell them to the coin dealers. This is of course one option that you can decide on but it is not necessary. You may also want to add some more foreign coins to your growing collection. With these foreign coins you should look carefully and select ones that will increase the value of your coin collection.

Before you start adding foreign coins to your collection you may want to read some more information that will inform you about the best types of foreign coins and rare foreign coins that you should have in your coin collection. When you have found the various types of foreign coins that are known to be valuable in coin collections you should start looking for places that can sell or trade you these foreign coins that you want.

You should have in your possession a coin folder that can hold these foreign coins in clear pockets so that they will not become damaged. The better the condition your coins are kept in, including your foreign coins, the higher the value of your coins.

What Coins Should I Collect?

By Robert L Taylor, JD

You should collect what you like and enjoy. This is Your Dream. Design it any way you want.

Never-the-less, . . . decide on Foreign coins or US Coins; and Proof or Mint State. If US, then decide upon a Denomination: penny, nickel, dime, quarter, half dollar, dollar or other.

Or, decide upon a particular Period in History, e.g.: Morgan Dollars (Lady Liberty, Following Civil War), Peace Dollars (Following WWI), War Time Cents (Steel and Shell Casing - WWII), War Time Nickels (Silver - WWII), Silver quarters and dimes pre 1965; Statehood Quarters; 20th Century; 19th Century.

Or decide upon an Historical Figure; Kennedy Half Dollars (Following his death), Lincoln Cents; Washington Quarters; Franklin Half Dollars; Eisenhower Dollars, Susan B Anthony Dollars, Roosevelt Dimes; Sacagawea Dollars. You can also choose Type Sets, Year Sets, Mint Sets, Proof Sets and Decades.

The Next Step is to decide upon the Quality of coin you want to collect. Your choices are: a) pocket change; b) bank rolls; c) US mint and proof rolls and sets (new and used); d) Buy from Coin Shows and Clubs; e) Buy on the Internet; f) Buy from coin dealer; g) Buy from coin magazine or ad. Each has their benefits and advantages. Pocket Change and Bank Rolls provide Circulated coins. The US Mint provides Uncirculated “Mint State” and “Proof” coins.

The Internet provides the Greatest Selection from private Web Sites, e.g.: www.ThePerfect-Coin.Com to the big Auctions like eBay, Yahoo, Heritage and TeleTrade. And With the advent of PayPal.com (free) it becomes very quick and easy to pay for purchases over the Internet and by Phone.

The one thing that is important in all of the above choices is the Grade of the Coin, which is closely related to Value (a topic for another article). But which leads to the next choice: Buy Slabbed or Raw? Raw coins are what you find in pocket change. Slabbed coins are those that are Professionally Certified and Graded by an Independent Third Party. The coin is then placed in a “slab”, made of plastic, identified, labeled and sealed. It actually takes 3 Professionals to decide upon the Grade of a Coin. If Buying Raw Coins, You need to Know How to Grade a Coin. Even then, there will be Disputes about the Grade. When Buying a Slabbed coin, You Know the Grade. The Grade Becomes Virtually Undisputable! All references to Price in any resource are Based on Grading, which follows the Guidelines set by the ANA American Numismatic Association. Currently, there are only Four Companies that are Recognized for Strictly following these Guidelines: PCGS, NGC, ICG and ANACS. It is from these Professionals that one should buy slabbed coins. Buying Slabbed Coins is the First Rule of Serious Coin Collecting.

Obviously, one will be very limited in the years, mints, and varieties available from pocket change and bank rolls - both being local in nature. Even if starting with these means of collecting, always keep an open mind about other resources. So, a little future insight helps to decide that better resources will yield better coin collections. Most collections will span a greater range of years, than either pocket change or bank rolls can possibly produce. It is therefore imperative to investigate other resources.

Your Budget will usually determine the Grade of coin that you can afford to collect. MS63-MS65 is an Ideal range for collecting, not only because of the excellent condition and detail of the coins, greater availability, lower costs, and because coins in this range tend to Appreciate faster than other Grades. There item is very simple, and it has to do with the quality of the coin or how much you want to Spend per Coin - for an average coin, for an exceptional coin, or a perfect coin. Your budget will usually determine this factor, or, how much per month you can spend (per month?) for your new Investment. Never doubt that Coin Collecting is an Investment. Although it is easy to overlook the amount of time spent on this Endeavor because two of the main ingredients are Pleasure and Enjoyment. Confucius Say:

“If you enjoy what you are doing, you will never work another day in your life.”

Think of it as a Fund. You are trading Money for . . . Money that Grows and Gives Pleasure! Properly attended, this Fund can quite possibly put someone through college.

Lastly, decide whether to collect all of the coins in your Group including varieties and errors or just the Regular Issue Coins. Errors and Varieties can become extremely expensive and difficult to find. Most people will avoid them.

This Concept of “Trading Money for Money” is critically important because most people shy away from spending a little more, just to get the best. And I am talking about the best in quality of coin, no matter what the Grade or Price. In other words, get a Coin with the Grade it is Supposed to Have. This is the Only way to be sure of the Value of the Coin. Spend your Money Wisely. Get what you pay for. Until you become a Professional at Grading, rely on the Professional Graders. Whether you choose to collect Kennedy Proof Half Dollars, or Jefferson Nickels from pocket change, thanks to the Internet, you will find a huge selection available, on many different web sites, to give your Coin Collecting efforts a boost. Internet Web Sites will Forever Change Coin Collecting! Why? Because Top Quality Coins can be easily Bought and Sold by any body - since they are Slabbed!

Always Know Your Grade!

Robert L Taylor, JD

Copyright 2006, Robert L Taylor, JD