Coin Collecting Club

A special machine does the stamping of coins to make them genuine. People who counterfeit coins are well trained and have the capacity to manipulate their duplication - especially those rare coins which have high value among collectors. The most common procedure used in counterfeiting is that they pour a liquid metal into molds that will leave die marks with cracking on the counterfeit coin.

Those who are experts in determining counterfeit coins have observed that the changes seen in the coins have added, removed, or even altered the coin’s date markings. If a person thinks that he is in possession of a counterfeit collectible coin, he can compare it with another coin – one like the suspect coin – which is known be genuine and have the same markings.

If the coin’s value is more than 5 cents, look for corrugations in the outer edges of the coin. These are very thin railings (also know as “reeding”) on the edges of the coins. Genuine coins have very thin edges and the railings are even and distinct if one is very observant. Those coins that are counterfeit can be distinguished if the edges are not thin enough and the railing is uneven or missing in some areas.
Should there be an instance when a person perceives that he has received a counterfeit coin, he must not return the counterfeit coin to the person that handed him. He must try to delay the person – should he try to escape – or try to keep that person in sight and follow him to his destination if possible. It is important to remember the person’s clothes and physical appearance and if the person has any companion during the exchange: if they have a vehicle, get the car’s license plate number and immediately call the nearest police department or the United States Secret Service for help.

There are many things that can be considered to determine whether the coin is counterfeit or not. There are terms that are used to describe a counterfeit coin’s characteristics and they are as follows:

1. A restrike of a coin can be considered to be genuinely authenticated. These coins are actually dated earlier than those originally issued by the country that released them but have the same or exact features as the original coins.

2. Coins of a specific country in the ancient times are sometimes copied by another country. A person may think that it is forgery, but it is not because they had been legally approved in the country where they originated.

3. Forgery can be associated with the making of an illegal profit. It would be the main objective of the counterfeiting syndicate. The government sometimes uses forgery for political propaganda, as in the Second World War when Germans produced millions of American and British banknotes with the intention of profiting from them and destabilizing their enemy’s economic situation.

4. Another known type of counterfeit coins is replica coins. Replica simply means that the original coins are copied with the same features and markings. The usual counterfeit coins have differences that are noticeable when examined by coin experts. Some coins have the word “copy” intentionally put on the sides of the coins and these replicas are used for educational purposes and museum displays.

5. A Lebanese connection is said to have a huge production of counterfeit coins. These coins were found to be used in an attempt to fool many museums, collectors, business leaders and other countries that are searching for their ancient lost coins before the discovery of this syndicate.

6. The collector intended forgery and the circulated intended forgery are types of forgeries where the coins are intended to be tokens yet the face values are accepted, despite of their illegality and irrelevant intrusive values.

It is important to consult an expert to determine if the coin is counterfeit or fake. An ordinary person can easily detect if the wrong metal was used for the counterfeiting. If the person is a collector of such items, he should be more aware of these coins. A collector needs to be more concerned with the collectible rare coins because this is where counterfeiters benefit frequently - their aim is to profit from the exclusive market for valuable coins.

Many people have been unfortunate enough to buy a coin and then find out that they are in possession of a fake. These things happen to the best of us. The first person in our line of attack is unfortunately our coin dealers. Whether they have been our dealers for years or this was the first transaction, the wrath they incur is something else all together.

This does not always mean that your coin dealer is in the habit of selling fake coins. There are very many dealers who have handled dud coins and not known it. Sometimes even the best and most experienced of dealers have been duped with forgeries that almost as good as the real thing. Only a few dealers can tell fakes from the real coins, especially when a lot of work has been done to recreate the coin.
Grading services are provided to coin collectors and dealers to be able to differentiate between real and fake coins. Well, they are there to provide you with an estimate cost of your coin and also to determine the state of the coin. The most reliable grading service is provided or offered by PCGS. Most coin dealers and collectors find that they do the best work. They are the most conservative and have been around for a long time. There are some two timing graders though, who will allow some things to slip by with no word at all.

The next question is, will the dealer compensate you after you found out it’s a fake? I think that it all depends on the dealer and the solvency of their dealership and the good faith of your dealer.

What Is An Estate Sale?

An estate sale is generally a liquidation of physical assets from a home. Usually this is done after a death in the family, but that is not the only way you can have an estate sale. If you are in possession of a residence or piece of property containing personal belongings, you can call an estate sale. Some examples could be a divorce where community property cannot be split or someone relocates to a new job and has to move light. Normally these sales are handled and moderated by a liquidation firm. They handle all the sales and business dealings. All you need to do is collect the proceeds at the end.

Advantages Of Buying Collectible Coins At Local Estate Sales

Like anything else, buying coins at a local estate sale can be advantageous.

A lot of estate sales contain many years of collecting and hoarding by the owners. Thus, there can be some real treasures available if you know what to look for. This is not always the case, but people have acquired valuable coins in this manner.

The good thing is that you will be able to purchase the item then and there and carry it home with you. No waiting for shipping, the associated costs of shipping or the danger of the item being lost or stolen in transit. Just about all coins at estate sales are sold on a “cash ‘n’ carry” basis. You buy, you fly.

A big advantage to buying coins at an estate sale is you are buying from another collector. So the pieces in that collection will probably have been well taken care of and quite possibly in mint condition. The experienced estate sale coin buyer has a good idea what to pay for those coins. If you happen to run into something you aren’t sure of, you can call a friend with a computer to do a little research for you on the spot. There’s no need to “buy blind”, as they say.

What To Watch Out For When Buying Coins At Local Estate Sales

There are a few things to lookout for when buying coins at a local estate sale. Here is a short list:

Avoid “treasure chest” type offerings. Like in eBay, some sellers will toss a few coins into a box or bag and call it a “hidden treasure” or something along those lines. It doesn’t take anybody very much time to throw a bunch of worthless coins into a container and call them valuable.

Any items that are described with large adjectives are avoidable at all costs. Coin collectors usually don’t speak with words like ginormous, giant or massive when talking about their coins.

If the seller is offering a bonus for buying certain coins, DON’T DO IT. It is more than likely a piece of junk that the seller wants to dump on the buyer. Remember that all sales are final at estate sales, so once you pass cash, it’s yours to keep! Buy smart!

More times than not, some precious or valuable coins can be found at local estate sales. Just be informed and ready to snatch up the treasures you may find!

Coin collecting is one hobby that has been going on for ages. Some of the most popular collectors in the world were Louis XIV and the Sun King. To keep track of the coins in the collection or to monitor the value of rare coins in the market, it pays to have coin collecting software.

There are many reasons why coins are collectible. Some are valued because of the artwork and others because of certain events in history such as the Great Depression or war .Whatever the reason, coin collecting software can update a person about these varieties before taking any action.

Some inventory programs contain a comprehensive database of more than 10,000 coins worldwide. The software allows the user to scan pictures in one’s collection and programmed in the database.

Others only have a database of every coin that the United States ever minted. The program allows the user to select the coin and generate various reports about it.

Coin collecting software is there to help a person organize and catalog the coins in one’s possession. Some websites charge a fee to purchase the software but most can be downloaded for free from the internet. The program will work as long as the computer being used is compatible with the software.

There are more coin collectors that collect coins that are still in circulation than those who look only for the rare ones. The study of it is fascinating since a person can learn the history of a nation based on a few coins. Of course, this can only happen if a person has the time to do it.

Coin collecting software has given people an easier way to keep track of coins that they own. Instead of opening countless folders that have different coins in them, a person can just type a few words and the information can be seen on the monitor. This makes it easier for the collector to show his collection a potential buyer in with the hope of exchanging it for another coin of equal or greater value.

The ideal coin collection software program should have good search capability, unlimited number of entries and other special features. By checking the various programs and trying some, the person will find the right one needed for the job. Before downloading it, the person should first have it scanned since software may contain a virus that could harm the computer.

For a person who collects coins, there is always the need to have good coins in the collection. While it is easy to buy the various coins that you want to have in your coin collection you do need to make sure that these coins are valuable and if you need to sell them they can be sold without much problem. The best way to find out the value of your coins is by the coin grading system.

There is a different coin grading system for coins from various countries but these are for the most part similar. The coins are inspected to see what the condition of the coins are like. These coins will be given a coin grading depending on what the coin dealer, or coin collector’s knowledge of coin grain is like.

As it will take many years before a coin collector or dealer will have gained enough knowledge about coin grading there will always be some uncertainty about the value of the coins. To learn the basics of coin grading there are very excellent coin grading books that deal with this subject. You should read books like this to understand the various coin grading systems that are used.

When you have understood the information that you have found you will need to try this process with some coins that you have in your possession. Using the book as only a reference guide you should try and give a coin grading to the coins that you have with you. This process will help you to understand the various values that have been given for the coins.

The coin grading system is at best the only one in America that is standardized. Even with this coin grading system you will find that no two coin dealers agree on all of the points. Therefore you should always remember what the various letters and symbols in coin grading mean. Uncirculated coins will be given the rating of Mint State. This means this an extremely good find for coin dealers and collectors. You will find that coins are also categorized from the best to the worst.

These are a few of the various coin grading values. Using these and understanding what these various coin grading values are will help you with your coin collection. Unc means Uncirculated or Mint State and there is no sign of wear and tear. AU means Almost Uncirculated, XF means Extremely Fine coins with only a light dusting of wear on the highest points.

From these types of coin grading values and the other coin grading values that you will encounter you will soon know the various prices that are given. Coin grading is just one more tool that you can use to see the prices that various coins can command.