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.

There are lots of different American coins to be found and if you are interested in history you can even collect these American coins. The best way to understand what types of American coins are good to have in a coin collection is by finding material that will provide you with this information.

One such resource that will let you see the American coins that coin collectors want in their coin collections is that of the internet. From this you can find many pages that will tell you what sort of condition your American coins must be in to be considered as being valuable. You will also have to find information that deals with the American coins that were used in the civil war and pre-civil war times. As these types of rare American coins do come on to the coin market once in a while it will help if you can identify them.

Of course these American coins are not the only coins that are considered as being good to have in a coin collection. There are others such as a dime piece that was issued almost at the very beginning of the formation of the United States. You may also want to look in coin shops for American coins that have unusual face designs or small mistakes on them.
Some of these errors are what makes any coin including American coins valuable for coin collectors. You can learn all about the various ways that coins are graded for finding out their values. This information will help when you start seriously collecting coins. As there are many different types of American coins that you can buy you will need to recognize the characteristics that are the hallmark of valuable coins.

While many people store their coins in coin folders you may want to have a coin folder that will hold all of the American coins that you have in your collection. This way you can see the various changes that have occurred to these different denominations. You may want to start filling your coin folder with American coins that are from one period of time. For instance as Kennedy coins are somewhat hard to find you may to see what other coins from that period of time have unusual histories.

Coin collecting is one of the more enjoyable Money that you can embark on. Looking at the various coins will reveal small slivers of history that you may never have even known about. American coins are a testament to the history that has passed us by without our even knowing.

Manhattan, New York – October 13, 2007 – Everyone at R.M. Smythe & Co., Inc., (http://www.smytheonline.com) is going to have a very busy week starting October 29th 2007 in what can only be described as a frenzied whirlwind of auctions. They will offer a exciting suite of four consecutive sales to include; coins and artifacts from the 1784 shipwreck of the El Cazador on Oct. 30th; paper money & stock certificate on Oct. 31st at 11AM EDT; obsolete notes from the Schingoethe collection on Oct. 31st at 6pm EDT and a mail-bid / live Internet auction of paper and ephemera on November 1st at 11AM EDT. All of the auctions will be held at the R. M. Smythe auction gallery in Manhattan.

The one week, four auction, whirlwind of over 5500 lots includes a historically fascinating mix of items. Among the more noteworthy offerings are artifacts and rare coins recovered from the ship El Cazador (The Hunter). On January 11, 1784 El Cazador left from Vera Cruz for New Orleans, and the then Spanish Louisiana with 450,000 freshly minted coins in its hold. The task was to shore up the local economy by retiring discredited Spanish currency, issued some 20 years earlier. The Ship, her crew, and the treasure she was carrying disappeared without a trace. Smythe & Co. is offering 43 lots recovered from the wreck of the El Cazador in their Oct. 30th auction. Some of the more interesting items include:

Lot# 1616 - 18th Century Spanish Bronze Breech Loaded Cannon. Typical form, 39 1/2” in length. Bourbon arms of Charles III on top of barrel. Breach fired cannon with breech block present. Minor damage to pindle. Nice surfaces with only traces of verdigris. One of only 40 cannons that were reported on the El Cazador. The fact that the breech block is present is simply amazing. Cannon weighs 200+ pounds.

Lot# 1578 -1872 (1782) Mexico NCS 8 Reales, Transposed numbers Error dated 1872-FF (instead of 1782). KM-106.2, Carolus III, Mexico mint. otherwise unlisted. A lower grade specimen sold at CICF ‘06 for $10,350. Extremely Rare.

Lot# 1585 - * Reales. 1783-FF, KM 106.2 Carolus III, Mexico mint. FC-66, EL-93

. square letters, and especialy sharp reversesome corrosion, reverse tooling, small ancient circular obverse mark, lightly water affected, uneven blue-gray toning, and much lustre. Ch. AU-UNC

Lot# 1604 - Clustered coins “Clump”: Cracked but whole cannonball and “base” in which are embedded several 8 Reales sized coins. 2 parts. 4lbs, 4.5oz.

Sunken treasure is not the only rarity up for auction at Smythe. During the same week, the Oct. 31st sale #274 of Colonial and Historic Documents features 24 lots, including these two noteworthy treasures:

Lot# 2050 - Province of the Massachusetts Bay August 9, 1773. 500 Pounds. 5% Bond due 1775. Ornate border. Embossed seal. Signed by Samuel Adams, Thomas Cushing and James Pitts for Committee. Fold splits lightly taped on the back. It is endorsed on the reverse by the owner, and there is a notation that interest was paid in 1774. VF. ($15,000-25,000)

This bond is unlisted in Anderson. Only four of these bonds are known to exist, two of which have been sold by Smythe & Co. in previous auctions. This example was issued before the Revolutionary Era, when Harrison Otis Gray was still the colonial Treasurer. The bond was witnessed by James Pitts and Thomas Cushing, (1725-1788) Massachusetts merchant, member of the Continental Congress, speaker of the Colonial House etc. Signed by Samuel Adams (1722-1803) signer of the Declaration of Independence, Continental Congressman, Massachusetts Governor, early opponent of British rule and the Stamp Act. He engineered the election of John Hancock as head of the Patriot Party, and later became the governor of Massachusetts himself. This is an extraordinary piece.

Lot # - 2062 Legendary scout and Indian fighter Daniel Boone signs treasury warrant for the Commonwealth of Virginia December 22, 1781. #10201. Land-Office Treasury Warrant. 500 Acres/800 Pounds. Issued to and boldly signed on the reverse by Daniel Boone. Unlisted in Anderson. Fine, but with age tone. Broken folds have been expertly repaired. Ink is light with thin spot on verso of document. Uncancelled. ($10,000-20,000)

Daniel Boone (1735-1820), legendary scout, Indian fighter and folk hero. Boone is most famous for his explorations of the frontier, paving the way for the settlement of the West. In 1775 Boone trailblazed the Wilderness Road through the Cumberland Gap and into Kentucky, founding Boonesborough. He served as a militia officer during the Revolution, defending the Western frontier. He was elected to three terms in the Virginia General Assembly. After the war Boone worked as a surveyor and merchant, but he went deep into debt as a land speculator. He lost much of his land because of squatters and conflicting claims. In 1799, frustrated with legal problems, Boone resettled in Missouri, where he died at the age of 85.

The one week, four auction marathon is not just limited to historical paper and shipwreck artifacts. Addition items for sale include obsolete notes selected from the Schingoethe collection to be auctioned on Oct. 31st at 6pm EDT, as well as over 5400 lots of ancient coins ,U.S. and foreign currency, notes and stock certificates that will all go under the gavel on Oct. 31st at 11AM EDT. A few examples include:

Lot# 1004 - Foreign Greek. Phoenicia, Tyre. AR Half Shekel- Tetradrachm (7.14g.). 76-75 B.C. obv. Laureate head right of melkart. rev. Eagle standing on prow, date HM (year 48) and club before. BMC 230 var. Choice for issue. Superb, as struck. (Estimate $500-700)

Lot# 1107 - 1787 Connecticut Copper Colonial Draped Bust Left M-34.ff PCGS XF-40. Smooth, hard, and glossy surfaces combine to create an appealing circulated Connecticut copper. Some planchet roughness (as made) is noted. “

Lot# 6071 - NY. New York City. Silver Lake Bank. $5. 1834. (PA-320 Unlisted). Technically a PA bank but payable in New York City. Woman in row boat. P. Maverick, Durand. VG, minor hinge repair. (Estimate $200-300)

Lot# 6264 - VA. Lexington. County of Rockbridge. 50¢. Feb 2, 1863. Typeset. Fine, pinholes. (Estimate $500-750)

Lot# 6317 - 1) VA. Richmond. Mineral Bank of Richmond. 5¢. Oct. 4th, 1861. Typeset. Blue stock. Fine. 2) Family Groceries. 5¢. 1862. About Fine. 3) Emanuel Semon. 5¢. 1861. Fine. 4) C. Sworff. 10¢. 1862. Sailing ship at left end. About Fine. [4] (Estimate $500-750)

Lot# 1499 - Franklin Institute Medal Group Julian AM-17. Seven are 47mm Silver, one is 47mm Bronze. All awarded in the 1840’s and 1850’s. All awarded to one firearms manufacturer. An interesting group that must be seen to be appreciated. [8] (Estimate $500-750) All Ex. Lot

Lot# 2035 - Detroit Aircraft (MI) 1930. #7093. 100 shs. Green. Oncoming plane, dirigible and another plane in the distance. EAW. VF+.* (Estimate $150-300)

Lot# 2078 - Act of March 23, 1863. $1000. Cr.136. B-276. No.199. Ruins of Jamestown, Virginia. Falsely filled in as all issued pieces were redeemed and destroyed. Geo Dunn & Co. VF, small body hole. (Estimate $1,000-2,000)

Lot# 2075 - Act of January 29, 1863. Cr.119. B-160. No.529. 1,000 Pounds. 25,000 Francs. The Erlanger Loan. Woman with Confederate flag and cotton bales watches ship. Signed by Erlanger, Schroeder, McRae and Slidell. VF-EF. (Estimate $600-1,200)

Detailed descriptions and photographs of all 5500+ lots are available for review On-line at: http://www.smytheonline.com then select “Current Auctions”.

“Our upcoming week of auctions is going to be a tremendous opportunity for some lucky collectors to acquire some remarkable pieces.” said Mary Herzog, Vice President of R. M. Smythe & Co. “Because of the large number of lots being offered, I want to encourage interested parties to review the catalogs on our Web site at their earliest opportunity.”

Lots will be available for viewing at Smythe’s offices at 2 Rector Street, in New York City, by appointment only. To arrange for an appointment call R. M. Smythe & Co. at 800-622-1880. For updates on these auctions check Smythe’s website at smytheonline.com. The Internet auction on Nov. 1st will be conducted with eBay Live / LiveAuctioneers.

About R. M. Smythe & Co.

R. M. Smythe and Co., established in 1880, buys, sells, and auctions coins, paper money, stocks and bonds and autographs at their corporate headquarters at 2 Rector Street in the heart of the Financial District in New York City. To order a catalog, to contact any of the firm’s specialists, or to make general inquiries, call 212-943-1880 or 800-622-1880, or visit the firm’s website at: http://www.smytheonline.com.

When you say mail order coins, what comes in mind? Well this kind of coin collection deals with you choosing the coins you want either from the internet or maybe from a catalog of coins. Once you have chosen the coins you want, you get them delivered by mail to your doorstep. Many times you will get your coins okay, however there are times the coins that are you ordered are not the ones you will get. If you do get bad mail order coins what you have to do is get in touch with the people where you ordered the coins. However to make sure that the coins that you ordered do not come as fake ones, you should have checked out the people who are sending you and made sure you did a background check.

To make sure everything goes okay, make sure you only order for certified coins, mint sets and bullion sets, especially since you don’t get to view the set that they are sending you before hand. The older or rare coins are not a good idea if you plan to mail order your coins. 

Since you are planning to order for mail order coins and have no other option it will be good to take a few other precautions. First apart from making sure that your mail actually gets to you, you must also ensure that you do not over order or over use your money. Secondly don’t ever try to buy rare coins, opt for the more modern coins which are everywhere and are easier to replace.

When it comes to dealing with coin dealers you must be careful and watch their every move because they are tricky fellows. Yes you might find the one coin dealer who is honest but that is no guarantee. If your intention is to get your coins appraised, then you should be ready to do research on this dealer or dealers. The coin collection industry is a very hectic one with everyone out to get the best coins out there especially if it is very rare.

When it comes to coin dealers its always go to be weary, and cautious, because you might have a rare and valuable coin but the dealer might decide that you don’t deserve to have and decides that he or she should keep it and probably sell it. So if you intend to find the best but make sure the best is like all the rest. 

If you are a coin collector you can also learn how to become a coin dealer. You can ask a dealer to teach you how to read coins and learn how to tell the difference from a fake as well as getting to know the rare coins.

Coin dealers are often the ones who like to buy rare coins from you and are also coin collectors who sell rare as well as appraise coins for you. It is necessary that you check out what your coin dealer has to offer as well as his background, so you can know if he is any good or a lying hoax.