Getting into Gold Coin Collecting

Gold coin collecting can be an exciting hobby to take up. After all, who doesn't enjoy the lure of a shiny gold coin? Maybe you've watched movies where villains hunted down valuable Krugerrands, you could have a part of that too, only in your case, buying and selling old rare coins isn't an illegal activity! Still, it is a hobby with a unique and thrilling flare.

Some of the old rare coins are the most valuable, but most legitimate rare coin dealers warn openly that dealing in the gold collection is more of a neutral investment for your money.

Don't expect to land huge bargains or get great return on your Sovereigns or Brittanias. Dealers note that the market for gold has stabilized and won't provide rich profits, but they also point out that gold remains a reliable commodity.

Gold coin collecting can be made even more exciting when the words "unken treasure" appear. Common tales of pirate gold and sunken ships stir up all sorts of thoughts of riches and instant wealth for people, and some people know very well that sunken treasure and gold coin collecting can be an attractive lure.

It's quite true that sunken treasure does exist, and rare coin dealers or collectors are always excited when treasure coins are dragged upwards from ocean depths. That doesn't mean that every dealer claiming to have coins procured from sunken treasure has something you should invest in.

Banks are a great place to get additions for your gold collection hobby. For old rare coins, however, rare coin dealers are possibly your best option. Be careful, though. Some of the dealers also specialize in scamming customers.

While the overwhelming majority of them are honest and reputable, a handful of the dealers will give the entire industry a bad name. Be sure to do a good amount of research on the dealer you plan to use before purchasing any old rare coins.

Always look for dealers that subscribe to the Professional Numismatists Guild (commonly known as PNG) for your gold coin collecting. There are thousands of dealers all over the internet (and especially auction sites such as eBay), but these dealers do not always maintain the recognized code of ethics of the PNG.

The PNG requires many specific things for dealers to be members, making guild members a good choice to do business with. For buyers' convenience, the PNG has a dealer directory to ensure honest business.

There is a wealth of information on the internet for gold coin collecting, sunken treasures, the commodity of gold, and rare coin dealers. If you're planning to delve into the hobby of the gold collection, be sure to do your homework and research to know what you're getting into.

Start small, don't get too excited, and always be careful in what you're investing your money into. Deal with reputable dealers or individuals that subscribe to the PNG, and avoid bargain offers that seem too good to be true or ones hyped up with tempting tales of pirate ship gold.

Mike Selvon has a passion for coin collecting, and his portal has the best information on gold coin collecting. Visit his portal for your free gift and leave a comment at his coin collecting blog.

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How do I sell my Coin Collection?

So, you feel it is time to sell your coin long-time collection, or you have inherited a collection and you know nothing about coins and you want to sell them. As with the sale of anything, you want to make sure you get a fair price. Sounds simple enough, right? In the area of numismatics, when it comes time to sell, offers for your collection can vary greatly. The following tips will help guide you to getting a fair and reasonable offer. I will talk more on the term "reasonable" a little bit later. Coin Dealers, like any other profession, number in the thousands. From part-time single person businesses to huge companies that buy and sell millions of dollars of coins annually. And like other professions and industries, we have a few crooks. By following the general tips in this article, you should be in a better position to realize your collections value. So here we go!

First and foremost, you need to know what you have. Why? If you do not know what you have, how do you know you are getting fair value? If you have thousands and thousands of wheat cents, I am not saying you need to inventory them all. In fact, it may not be worth your time. The chances of finding a key coin are slim at best. But you should know how many pennies you have. How? Simply weigh them. Wheat pennies come to about 148 pennies per pound. The same rule can apply to other common coins such as pre 1965 Roosevelt Dimes and Washington quarters as you may just a bullion price on these. For the rest of your collection, you may want to count the number of each piece. Make sure you have a complete list of your collection.

OK, time to contact a dealer? No, not yet. How do you know you are getting an honest one? Before contacting a dealer, you need to do some homework. Does the dealer belong to any organizations and clubs such as ANA or BBB? How long has s/he been in business? What is their reputation? Check out a couple of dealers before you make that call. Also, just because they advertise in a major coin collecting publication, does not make them honest. I know of one dealer who advertises in a major publication and sells cleaned coins as BU/Unc originals. Most novice collectors would not know the difference.

Now that you have done some research, it is time to contact the dealer. This can be done in many ways. You can give them a call or if you are the shy type, just send them an email. In your email, identify yourself and that you have a collection for sale. Include in the email the inventory you completed. This may come as a shock to many, but some dealers will NOT want your collection. Many dealers specialize in certain types or series, or just may have too many coins in their inventory. If your collection is an average collection of common coins, you may be disappointed to learn that many, if not all of the big dealers simply do not want to bother with you. It is too time consuming to sort the common collections and the margins are too small. Do not fret, all is not lost. Many smaller dealers will welcome the chance to obtain your collection.

Many of these dealers work in mail-order only and may have only email or a PO Box as contact information. While they may appear shady, these folks generally are quite reputable. As before, contact the dealer and ask if they are interested. If they are not, just move on to the next dealer. If they are, ask them for their "buy price" list. Many dealers will publish a list of what they are willing to pay for certain coins.

After some hard work, you have a couple offers on the table. The offers are not anywhere near what you expected. Remember what I said above about a "reasonable" offer? Here is the painful truth. Coin Dealers are in business to make money. Sure, many of us chose this profession because we love it, but like everybody else, we still have mortgages, car payments, and college for kids, etc. Many people will look in the latest Coin Prices magazine to come up with an idea of what there collection is worth. Magazines such as Coin Prices are really a list of prices of what you can expect to pay a dealer for a specific coin, not what you can expect to get paid. Markups can range from 20-50% or more for smaller denomination coins such as wheat cents. As I mentioned earlier, some dealers just may not want what you have. Also, many, if not all dealers, reserve the right to revise the offer on inspection of the collection. If you think all your Morgan Dollars are BU, but they are really AU, this would make a huge difference in price. Grading is highly subjective. Also, for larger, more diverse collections, a dealer may spend a considerable amount of time reviewing the collection to ensure a fair price.

So, what to do? Take the best offer and run? Maybe, maybe not. If this is an inheritance, and you have no emotional attachment, you can just sell and never look back. If this is your collection of 50 years, well this may be painful. You can continue to contact different dealers and wait for a better offer. If you feel your collection is really worth more, you can always consign it for auction. With some of the fees the major auction firms charge, it may not be worth it. You can also try your hand at eBay but unless you have a strong feedback profile, many buyers will not bid on your items. You can also locate eBay members who will auction off your collection for you for a percentage of the take. Sometimes this works out well and sometimes not.

For now, let's assume you have a reasonable offer and you decide to sell. By the way, this should be a written offer sent via the mail or sent via email. Many times, the buyer may be located in another city/state. No buyer will send you a check until they have seen the collection. If the collection is large enough (many, many thousands of dollars), some buyers will come to you. If not, your very viable option is to send the collection to the buyer via mail. Yes, that is right, via the mail. Wait you say, that sounds risky. It can be, but if you take precautions, you will have no problems. First, package the collection up very well. Make sure there are NO LOOSE coins jingling around. The sound of jingling coins is music to a thief's ear. So be sure to wrap them up well and tight. When sending via the mail, the USPS is fairly safe. Usually, you will want to use USPS Priority Mail. Contact your local post office as you can usually get free boxes. Generally, you will want to use the Flat Rate options as you can ship up to 70 pounds for under $10.00 (not including insurance), but ask your local postal clerk for options. For your protection, you MUST insure your package and pay for delivery conformation. Include in your package an itemized list.

Most dealers will appreciate this as they will audit the shipment to the list. If all is well, you can expect a check in the mail in no time.

In summary, here are the tips :

1. Know what you have, prepare a comprehensive inventory
2. Research some dealers before you contact one.
3. Talk to dealers before sending coins to gage interest
4. Send your coins. Package them well and insure them
5. Review the offer
6. Collect the cash!

As always, happy collecting!

Keith Scott has been a collector for over 30 years and owns a small internet-based coin store at http://www.mountainviewcoins.com.
Visit his website, http://www.mountainviewcoins.com for a history of US coins, metal market updates and news about your favorite coins.
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The Good Old Days Of Coin Collecting

It’s too bad that budding young coin collectors missed out on the opportunities I had when I first started collecting coins. It was 1970 and believe it or not you could still find silver coins in change from time to time even though the US Mint stopped producing them in 1964.

I used to go to the bank on Fridays after school because they were open later that day with ten dollars and get two rolls of dimes and then go outside and look through each roll for silver coins for my collection. After doing this for awhile I got to the point where I could tell a silver coin just by looking at the coin’s edges and when I saw that familiar grey edge stand out in the roll my heart would jump a little as I never knew what coin was waiting for me.

Sometimes it was a run of the mill 1964-D that was so plentiful back then they were almost a nuisance but every now and then you would strike gold, I mean silver, and come across a Mercury dime in pretty decent shape. Jackpot! I would always replace the coins I kept with the same number of clad dimes being that I was an honest lad and would go back inside and exchange them for two more rolls.

At first the tellers wondered why anyone would do this and I think they suspected that I was trying to short change them but after explaining to them that I was a coin collector and that I replaced the coins I took out they were more than happy to help me. I think people were more trusting back then as they never bothered to count the rolls I exchanged.

I would always wonder why someone would turn something like a Merc into the bank instead of saving it but I guess it’s no different than the time a girl in my junior class sold me 10 silver dollars for the grand total of $10! She didn’t care as she was just going to spend them on lunch and I was more than happy to buy them from here for exactly her asking price. Unfortunately not being as astute as I am today I quickly sold them to another collector for $11 and patted myself on the back for making 10% on my money in just a couple of days.

My dad also helped my budding hobby out by having a bartender friend save out any silver coins he got in change and every week he would pick them up for me. I would get these for face value but some weeks there were several dollars worth of silver coins and I had to actually turn them away because I didn’t have enough money to buy them. I’m not sure what my Dad did with them but I think he might have kept them for himself after giving me first crack at them.

It’s been years since I got a silver coin in change and even though I understand that they haven’t been made for over 40 years it’s too bad that someone that is just starting to collect coins has to buy many of the coins I used to get at face value for their collection.

Maybe collecting the new state quarters provides the beginning collector with the same thrill I got when I was just starting out but in all honesty I have never really liked the clad coins and don’t think they are anywhere near as good looking as the silver coins I grew up with. Oh, how I long for the good old days of coin collecting!

For more information on how to collect coins visit us today at http://www.coincollectorsbasics.com where we have a wealth of information on coin collecting as a hobby

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Search eBay Coin Auctions

If you are a coin collector, you should be happy to know that coin collecting is easier today than ever. Before the advent of the internet, for example, coin collectors had to travel far and wide to meet with other collectors. They had to go to coin collecting shows and, depending on how serious of a collector you were, coin collecting was a member’s exclusive club. Today, coin collecting has become much easier and more widespread thanks to internet auction sites such as Ebay. All you have to do is search Ebay coin auctions to obtain those hard to get coins, rare coins, foreign coins, or whatever else you collect. You can browse coins in the comfort of home and you can have the coins delivered right to you.

What You Need
In order to search Ebay coin auctions, all you need is a computer and an internet connection. There are many coin collectors out there who love to show their collections off on the internet and you can even bid on these rare coins, just as you would at a real coin auction. The only difference is that you never have to leave your house.

In order to show off your own collection, and to offer your rare coins to other collectors, you will need to set up an Ebay account. You don’t need an account to search Ebay coin auctions, but you will need an account if you hope to auction off your own coins. To create an account, simply follow the directions given to you by the Ebay website. Your payments will go through a website called Paypal, or you can set it up using a credit card. Ebay will take a small percentage of whatever you get for you coins, but it’s a small price to pay for the exposure. Think of all the people who will search Ebay coin auctions and think of all the people that will see the coins you’re offering.

To set up your own coin auction, simply take a picture of whatever coin you are looking to auction off. Then, write a short description of the coin. This is what others will see when they search Ebay coin auctions. You can set a starting bid price and then see where it goes. You also have the option of setting up a time limit on your bid. Just make sure that you are happy with the limits you set because once the bid is over, that’s the price you’re going to get.

If you are a collector and you’re not too keen on leaving your house to do your collecting, just search Ebay coin auctions to find those rare and unique coins, or post your own to help someone build their collection. Thanks to Ebay, coin collecting has never been easier.

Rudy Dhondt is the webmaster of the website Coins-Collection.com: search ebay coin auctions
Get a free report : 'Coin Collecting, Hobby of Kings + coin collecting on ebay' at http://www.coins-collection.com

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Coin Collecting And Owning A Piece Of History

I have been collecting coins and banknotes for over 30 years and it has been my passion. Collecting coins is not only fun, it is also very educational.

Coin collecting is generally believed to have begun in the fourteenth century

Collecting coins is all about owninga piece of history, and learning each of the various types of coins out there, entices you to learn about the history associated with that coin.

Collecting coins has been a hobby ever since coins were minted and is a lot of fun and very easy to begin doing on your own.

Most bookstores sell specially designed books just for the purpose of collecting coins by year. People have been collecting coins from time immemorial, collecting, sorting, organizing and auditing coins all over the world.

When you participate in the hobby of collecting coins you will find that it is not only the thrill of the hunt and the excitement you'll feel when you finally track down that rare 1937-D Buffalo Head Nickel that you have been searching for, for many years. Anyone can do it, and you can either do it for collecting history or for the profit potential that collecting coins can bring.

First of all, like all investments, collecting coins costs money, so you need to determine how much you can afford to spend each year for this. The technical name for the practice of collecting coins is numismatics, a term derived from the Greek word nomisma, meaning “coin” or “currency. Governments and other official agencies issue billions of coins annually, and collecting coins is a popular hobby around the world.

You can start collecting coins on a small basis. The best way to start collecting coins is to buy a coin collecting reference book and to join a coin collecting club if possible. If you really want to go all out, try collecting coins issued in your birth year by other countries.

Tony Harries
For more on Coin Collecting visit
www.jacksworldshop.com/The-Coin-Auction
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Old Coin Value - What's Important?

Everything you have as probably some sort of value attached to it. Sometimes this value is founded on how you feel about a certain item, while other items are given values assigned by others. The same applies to old coins and other coins in you collection. While professional coin dealers or expert coin collectors will know the old coin value for various coins, we may have no idea about this.

This is the main reason why you should acquire as much knowledge as you can about evaluating old coin value and what their price is. The knowledge you will gain is priceless. You will be able to get a ruff idea about what you can expect to get from the old coins in your collection. The best way to go is by reading books and articles even searching on the internet. You will find a great sum of information about old coin value and their price rates. Another good way would be to go to coin exhibitions or fairs. This way you will be able to see how experts evaluate coins before they make any judgments about the state of the coin.

Here are a few pointers that contribute towards the old coin value:

- The old coin must be in a fairly mint condition (which means).
- The coins must have the country of origin fairly legible.
- The mint date can still be seen.
- The wear and tear should be barely visible



These marks or should I say (identifying marks) are some of the items that expert coin collector and coin dealers look for. These marks are essentials when it comes to assigning a value to an old coin. You should learn from reading various books and articles how to identify those marks. Practicing your coin grading abilities on your own collection should help you to identify what an old coin value will be.

Once you are confident with the coin grading process, the next step should be to see what an actual expert has to say about the old coin value. You can usually get a good opinion by visiting your local coin shop. The value of the coin should help you decide what to do with your old coin depending on what type of collector you are.

In other words now that you know the old coin value, depending if you are a coin collector or an investor, you can decide whether you want to sell it or keep it for your collection. Keep in mind that if you hang on to your old coins for a long period of time there is a good chance that the value will climb. I hope that the information above was useful to you. Cheers and thank you for reading.

Here at “coin-collecting-tips.com”, we offer various information about coin collecting to help you become an expert coin collector. If you liked our article about Old Coin Value, browse through our website for more quality articles. http://www.coin-collecting-tips.com.

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A Quick Look at Some Coin Collecting Software

Coin collecting software can be a good addition to the supplies you have on hand for your hobby. There are different types of coin collecting software that can help you with many tasks involved in coin collecting, such as identification and cataloguing. It almost seems natural these days that anyone with a penchant for something turns to the technological world!

Coin collecting software can certainly make the hobby easier for those who like to have easy access to information, who wants to learn more about coins, or who are interested in having a database of their coins to buy, sell and trade. For those who love computers and coins, here is a look at some computer software on the market today.

CoinManage 2007 is a coin collecting software that has a comprehensive database of coins and that removes the task of data entry. It includes reporting possibilities and helps you find coins on EBay.

The database includes full mintage information for US coin collecting, as well as links to coin collecting websites. Not only that, the software can provide an idea of what your coin collection is worth by calculating its value.

Coin Organizer Deluxe 2007 is a coin collecting software that helps you sort and manage your collection. It has options to sort based on type of coin, such as old rare coins, medieval coins, modern coins, and has a nice feature of letting the user create coin contacts of buyers and sellers or web resources. The user can also create reports and a glossary of coin collecting terms.

PC Magazine has claimed the Coin Collectors' Assistant Plus an Editor's Choice coin collecting software. This software has an easy-to-use interface and has a complete listing for US coin collecting in its database, including bullion coins and sets.

Colonial and Hawaiian coins are included in the database. It provides tracking options for buying and selling, and helps provide values for coins and collections. Also integrated is a user loadable database of coin dealers.

A great coin collecting software available is the Coin Collectors' Survival Manual that comes in an interactive CD format. This CD provides landmark information on coin collecting, increasing the user's knowledge while providing plenty of tools for the hobby.

There are plenty of topics and coin collecting tips, such as how to avoid pitfalls and how to make money with coin collecting. The CCSM is also available in book format, and this choice makes an excellent gift for either novice or amateur coin collectors, considered an important tool of the trade.

Before deciding on an expensive piece of coin collecting software, figure out your needs. Try to find a basic program so you can become familiar with spreadsheets and databases to organize your coins.

If you can find free trials of coin collecting software programs on the internet, try a few different ones to find the best for your needs. There are also websites where you can find reviews of programs that will give you a better idea of what each one offers.

Mike Selvon has a passion for coin collecting, and his portal has the best information on coin collecting software. Visit his portal for your free gift and leave a comment at his coin collecting blog.

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Does Coin Collecting Mean One is a Numismatist?

Your average numismatist may or may not indulge in coin collecting.

One could also say on the other side of the coin a person who spends their time collecting coins could or could not be a numismatist. The hobby of coin collecting can be traced back to the fourteenth century and some have even said the Roman emperors were known to have coin collections but it really is not known if it was a genuine hobby or if they may just have been hoarding the coins!

The hoarding of coins goes back to the very beginning of coinage where people kept them for the coin’s value and coin collecting later developed and is known as the “Hobby of Kings” as well.
Because of the number of coins that have been minted throughout history are so vast no coin collector could ever hope to collect a sample of every coin produced. Probably King Farouk of Egypt, with the vast resources he had access to may have had the largest and most spectacular general collection in the world during the mid twentieth century.

Also because of the vast range of coins on this planet two types of coin collecting have emerged – the generalist who collects a bit of everything in the way of coins and the completists, who wants to have an example of everything within a certain range of coins. The only collector known thus far to have assembled the complete set of known US coins is Louis Eliasberg.

Coin collecting could be divided into the following specialty areas or collections:

Country Collections are where coin collectors obtain examples from every country that issues coins but these could also be collectors who try collecting every coin from a certain country – normally their own

Year Collections is coin collecting of certain type of coin from a certain year or trying to collect a certain type of coin from all the years that coin was minted.

Mintmark Collections apply to coin collecting of coins produced by different mints that carry their distinct mark on their coins. Some mintmarks are rarer than others and this is what makes collecting different mintmarks exciting for collectors.

Variety Collections are coin collecting of the same coin produced from different dies and these collections are commoner among old coins that could come from hand carved dies.

Error Collections are collecting of coins with errors in them but since the 19th century when production methods were refined, this has become rarer today. Even in this day and age errors such as over-dates, re-punched mint marks, double strikes and off center coins do happen. Coins that carry different denominations on their two sides are known as mules.

Coin collecting under certain Subjects and only of a certain Period in history are also very popular themes as well as coins making up Composition Collections. These are collections of coins made from certain materials like gold, silver and platinum but not only limited the precious metals.

Coin collecting may be taken up for investment purposes too but again be warned in that certain coins could lose their value over time. As already stated you don’t have to be a numismatist to undertake coin collecting but it wouldn’t hurt and you defiantly must be passionate about this form of collecting.

Michael Russell Your Independent guide to Coin Collecting
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Your Coin Collecting Care

Coin collecting may not be a passive hobby as some might think. The hobby requires delicate attention to detail and proper handling of valuable coins. So how does one handle and maintain a coin collection properly?

Touching Coins

Handing coins can have an effect on the coin’s condition. It’s important to consider carefully how you touch your coins. The fingers contain bodily oils and grit that might affect the coin’s color or cause scratches on the coin’s face. In fact, excessive touching may cause it to discolor. To be sure that you handle coins properly, wear latex gloves. Another safe practice would be to handle the coin on the edges since you won’t affect the front and back parts of the coin.

Breaking the holder or container would not be a good practice for coin collecting. By doing so, you’ll decrease the value of the coin from a mint-issue package. If a minted coin has a holder, then the container is part of the set - meaning it’s intended to be intact. Breaking it would make it less valuable.

Constant coin handling will ultimately diminish the value as well. If you have to touch the coin, it’s best to wash your hand thoroughly. In addition, make sure that you don’t put the coin on a hard surface. Placing the coin on such a surface could cause scratches on the item’s surface.

Temperature and Humidity

Coins for collecting should be placed in an area that is as close to room temperature. Coins in a damp or cold basement or in a hot attic will cause coins to oxidize and ultimately age. Rooms that are dry should be what you should seek to store coins. Moreover, storing the coins in the basement or attic will expose the collectibles to an environment that will break down the storage containers.

Coin storage

Storage is also a very important part of coin collecting maintenance. Find containers or plastic pockets that protect the coin from the elements. Some you can find available in sheets at a hobby or coin collector shop.

Cleaning Coins

You should seriously weigh the benefits and disadvantages of cleaning coins. Sometimes cleaning or polishing a coin is not the right thing to do, especially if the coin is in a packaged container. If the coin becomes exposed to air, the metal may oxidize or lose it’s toning.

Do not use metal cleaners to clean the collectibles. Doing so will also have damaging consequences such as discoloring.

However, if washing is a must, make sure you wash your hands with soap to remove oil or grit. You can then apply a soapy bath for the coins in a small container. Look for a plastic container since hard surface containers like glass might affect the coin properties. Gently rub the sides of the coins once it’s in the bath. When you complete cleaning, dry the coin with a soft towel.

Coin collecting is a hobby that one should be careful in maintaining the assets. Not applying careful coin handling techniques could seriously affect the value of the coins. There are plenty of resources to help you get started with coin handling and care.

Michael Russell Your Independent guide to Coin Collecting Article Source: http://EzineArticles.com/?expert=Michael_Russell

Coin Collecting Fascination and Wonder

Since coins are so prevalent in our culture, it is easy to get young children interested in coin collecting. Children will enjoy coin collecting because they can find coins everywhere, whether it is in their parents' pockets, or discovering a lost penny on the ground.

Kids get excited to add a new coin to their collection. They enjoy the interesting appearances of the varied coins and love organizing them. Getting kids interested in coin collecting might be easier than you think, so the following are some tips to help you get a child started.

Give the hobby of coin collecting as a birthday or holiday gift. A coin collecting startup set can make a wonderful gift in general, and the cost of gathering together a few of the common coin collecting supplies is relatively inexpensive. Plus, your kit can look rather impressive and important to a young child. It's money, after all!

Start with a fancy album to hold the common coins. There are some very nice binders for protecting and sorting coins available on the market. Make sure that the album you choose is either one for displaying modern coins easily found by a child or one where the child can indicate the types of coins on his or her own.

Include a package of plastic coin holders in your gift set, as individual coin holders are cool things for kids to play with. There are plain types and more fancy ones, so if the price difference is negligible, go for that little extra.

Provide the basic tools as well. Coin collecting is a serious business, and you should add a pair of latex gloves for handling, a soft cloth to place coins on, a good magnifying glass, and a plastic ruler to your startup kit.

From the start, relay the importance of not washing coins to prevent damage. Kids are usually thrilled by dirt and knowing exactly why dirty coins are a good thing will have them puffing up with pride and telling everyone their new knowledge.

Another way to add interest to the hobby is to add a coin collecting book. With a coin collecting book, children will get extra information about the hobby that they can read and understand.

Find a book that has a variety of hints and tips to keep kids interested in new ways to collect coins. Look for books on the market that are written in easy-to-understand terms for kids who want to begin a coin collecting hobby.

Do toss in a coin collecting price guide in your gift, though. We're talking money, after all, and even money has a value and price. Kids will rave about that special coin worth a lot and a coin collecting price guide can be an extra motivator to encourage the hobby.

Last, but not least, start the collection for your child. A child will have round eyes to see that in the album you present are a few old rare coins or a couple of old Roman coins. You can find one of these on eBay or at an antique dealer.

Some world coins are a good alternative, though, and having a handful of low-value coins from other countries (again, check out eBay or have friends worldwide mail you some) can be a fun way to encourage coin collecting.

What if the child doesn't like the gift? Don't be disappointed. Kids are like that, with fussy tastes, and they run from one interest to another quickly in their youth.

The coin collection set you've carefully put together may not thrill, but eventually, the child will pull out that gift and the interest will spark at that point.

Mike Selvon has a passion for coin collecting, and his portal has the best information on coin collecting. Visit his portal for your free gift and leave a comment at his coin collecting blog.

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What Is An Un-circulated Coin?

You may have heard the terms proof coin and un-circulated coin, but what's the difference between these two? To understand the difference between a proof and un-circulated coin, let's first answer the question, "What is an un-circulated coin?"

Un-circulated means a coin has not had any wear, such as the wear a coin might experience when it is used in commerce. Handling a coin, as well as improperly storing a coin, can result in wear on the surface of the coin. This wear, even if very minor, will cause a coin to no longer grade un-circulated.

When coins are minted they often bump into each other and receive small nicks and abrasion marks during the production process. These marks also occur as coins are transported in large canvas bags. These marks, sometimes called "bag marks", are more noticeable on larger coins, such as half dollars and dollars. Typical "bag marks" do not keep a coin from grading un-circulated. However, they can be an indicator of how high of a grade the un-circulated coin might receive.

Current accepted grading standards provide for a range of un-circulated grades, from the grade of MS-60 to MS-70. MS60 would be a lower grade (yet still) un-circulated coin with normal bag marks for that type of coin. Anything below MS-60 would not be considered un-circulated. MS70 would be the perfect "ideal" coin. Some coins are rare in grades MS65 to MS70, and even unheard of in MS70 grade. (The attribute "MS" stands for "mint state".)

A newly minted proof coin is also un-circulated, however it is the way it is made that causes a difference in appearance and qualifies it as a "proof". To understand this, let's look at how coins are made. Coins are produced when two dies strike a blank piece of metal with tremendous force. One die is engraved with the front (obverse) design for the coin. The other die has the back (reverse) coin design on it.

A proof coin is made with a specially polished and treated die! By treating the die in a special way, the coins it produces have a different appearance. Modern technology allows the high points on the coin design to be acid treated (on the die). The background (field) design of the coin die is polished, resulting in a mirror-like look on the coin it strikes. This gives the finished coin a frosted look (frosting) on the raise parts of the design, with a mirror like finish on the background. This contrasting finish is often called "cameo". On some older coins a cameo appearance is quite rare. The attribute "CAM", when added to a coin's description, means cameo appearance. "DCAM" means deep cameo, and indicates the cameo appearance is strong and easy to observe.

About The Author

Lana Hampton makes it easy to find the coin collecting information you want. Visit http://www.yowscoins.com today for the latest coin collecting information.

How To Create Your Own Coin Collecting Kit

You can't say that collecting coins is only about coin-keeping. Numismatists or people enthusiastic about coins will tell you that it is much more -- a rather methodical and to some extent a complex hobby. You should follow some specific guidelines to make sure that you carry on this hobby with a disciplined approach while having fun and making money at the same time.

Below is the list of some necessary things that should be a part and parcel of your coin collecting activity.

1. Using guide books on coins

Both beginners and professional collectors of coins should use guide-books on coins.

Coin guides give tips on how to start, as well as special instructions on how to proceed with the hobby of coin collecting.

These books not only give start-up tips but also provide information regarding the procedure to walk the road of this hobby of coin-collection.

As coins differ in respect of their price, grade etc., these books also come handy by giving necessary information related to the same.

Reading these guide-books is strongly suggested before starting the hobby of coin-collection as it would be a safeguard against taking wrong decisions due to non-availability of proper information.

2. Record of the stock of coins

Proper stock-records for all the items that you have collected must be kept. Facts such as grade, year, cost, face value, remarks and trend should always be obtainable in case they are needed.

Stock records aid a lot in proper organization of the collection of coins. If any collector gives a brief look to these records, it can help by showing which coins have become useless or are required no more.

For keeping a record of information related to coins, numismatists have some alternatives as regards the method to be followed. They may utilize either the long established procedure of using paper and pen or use the software specifically prepared for coin-collection.

3. Coin Box

Coins should be kept in properly protected holders and boxes so that they don't get damaged.

Some chemical reactions often occur between the metals of which the coins are made and sulphur or PVC. So paper (in which sulphur is present) or plastic (consisting of PVC) shouldn't be used for coin-storage on a long-term basis.

4. Gel of Silica

For preserving the coins properly, packets of silica gel should be used as it helps to maintain correct temperature and low level of humidity in the atmosphere.

5. Glasses that magnify

To rank the coins, magnifying glasses offer a big helping hand. Though 7x magnification is the most recommended one by numismatists, but even magnification in the range of 4x to 10x will complete the job pretty well.

For examining the degree of excellence and the genuineness of coins, a magnifying glass is of great help. Defects which can't be seen by the naked eye like scratches or even hairlines can be brought to notice by magnifying glass. This is a good thing as such defects affect the coin-value in a negative way.

6. Light Source

A source of light should be kept at a distance of half a meter from the workstation. A 75-watt lamp that's incandescent or a halogen lamp is suggested for this purpose.

7. Tools for handling

The quality of the coins gets diminished by the marks of finger. So, coin-collectors who are serious about their hobby use gloves meant for surgical purposes and pads made of velvet for coin-handling.

Finally, the preliminary kit of coin-handling is ready. So, have a great time following your hobby!

About The Author

Mohammed Shomam is involved with an online coin collecting project that informs and educates the coin collecting enthusiast through well-written articles. Discover how to make the most out of your valuable coin collecting hobby! http://www.coincollectingtips.com.

Collecting Greek, Roman, and Other Old Coins

A Beginner’s Guide to Collecting Inexpensive Old Coins

Collecting old coins is like holding a piece of history right in your hand. It is common to find affordable ancient Roman coins that are 1600 years old, and many are even 2000 years old or more. Imagine that the ancient Roman denarius in your collection might once have bought admission to the gladiator fights in the Coliseum or chariot races at the Circus Maximum. The best thing about collecting old coins is that, unlike other antiquities, ancient coins are remarkably affordable. Because so many ancient coins have been discovered, and more are being unearthed every day, it is possible to buy millennia-old coins for only a few dollars apiece. For less than the cost of a movie ticket, you could own a link to olden times.

Things You Should Look For While Buying Old Coins

Unless you are looking to spend some serious money on your collection, the old coins that you buy will probably not be extremely valuable as an investment. However, that should not undermine the thrill of being able to own a genuine aged coin on a shoestring budget. There are numerous places, both online and off, that sell inexpensive old coins. The important thing to look for when buying these ancient coins is that the coin is identifiable. It is disappointing to buy an aged coin, only to realize that there is no way of telling what it actually is. The best way to ensure that an ancient coin is identifiable is to be certain that the writing and inscriptions on it are legible.

Buying Uncleaned Lots of Old Coins

Of course, there is another bargain option when buying ancient coins, and that is to buy a lot of uncleaned coins. These are old coins that have been unearthed in archaeologically rich areas like Italy or Greece, but have not had the dirt and buildup of the centuries cleaned from them. Uncleaned lots of elderly coins are exciting because you never know if the coins will be so worn that there is nothing left but a smooth piece of metal, or whether you will uncover a genuine rare coin. You should be aware, however, that the likelihood of finding a high-value gold or silver coin among uncleaned lots is extremely slim. Furthermore, the reason why uncleaned lots are sold to begin with is that cleaning old coins is a difficult endeavor in the best of circumstances. Removing large amounts of dirt and debris from ancient coins carries the risk of spoiling the coin.

How to Store Old Coins

Elderly coins, like elderly people, require tender handling. It is important to remember that one of the vital factors regarding the value of an old-time coin is the patina, or the sheen that builds up on the surface of a coin over time. The last thing you want to do is to polish an ancient silver coin so that it is bright and shining! When dealing with old coins, you should only hold them by the edges, since the oil on your hands can ruin the patina. Do not attempt to clean old coins on your own without learning a lot about the proper techniques. Only a veteran should attempt to clean a potentially valuable aged coin.

When storing old coins, always use acid-free materials; any other kind of storage could damage the coin. You’ll need a safe place to keep your ancient coins. Some options include mylar flips, acid-free plastic sheets that go into three-ring binders, and even special collector’s cases, if you want a particularly elegant look for your collection.

About The Author

Charles Roman

Coins and Coin Collecting http://www.coinsandcoincollecting.com : your guide to getting the very best from your coin collection.

Understanding Coin Price Guides

There are many coin price guides published; weekly, bi-weekly, monthly and annually. They come in the form of magazines, newsprint, “hot sheets”, and books. All of us have referred to one of these from time to time to ascertain what a particular coin might be worth. Yet, few of us stop to think about what we are getting from any one of these Price Guides, beyond the price or value of a coin. After all, don’t price guides, just give you the price? What else is there?

Basic to an understanding of price guides are two things: 1) the Grade of the Coin; and 2) the Foundation of the price guide. Knowing the Grade of the Coin is required before one can begin. Saying so seems to be obvious, but what more does it mean?

Unless the coin is Graded by an appropriate Professional Grading Company, which has designated what Grade and Identity has been assigned to the coin, most of us are making an assumption about the actual Grade. This assumption we make can be very dangerous because of: a) the difficulty in grading a coin; and, b) the different possible outcomes or results that occur. One Grade “point” or level can make the difference in hundreds or thousands of dollars in the Value of a Coin.

Price Guides assume that YOU already Know the Grade of the Coin. This is why we have the First Rule of Coin Collecting: Know the Grade of Your Coin.

Secondly, ALL Price Guides are founded on the same Principle, which is that the Coin, whose price you are looking up, has been Graded using one Grading Standard. That Grading Standard is set by the ANA – American Numismatic Association – and is entitled the Official Grading Standards For US Coins.

Therefore, ALL Price Guides have a “silent assumption” built in to their guide; which is that the Grade that YOU decide upon, is True or Accurate, and that such Grade is based on the ANA Standards.

The first difficulty that arises is that most people never know if the Grade that they have decided upon is Accurate. Of course, this difficulty never comes into question, if the coin is Professionally Graded by an appropriate company. There are only four (4) reputable Professional Grading companies that strictly follow the Guidelines set by the ANA, and they are: PCGS, NCG, ICG, and ANACS.

The second difficulty arises because of this “silent assumption” or Foundation of all price guides is whether or not the Grade has been decided upon using the Guidelines or Standards established by the ANA. If you don’t have the skills and training of a professional coin grader, the decision is probably questionable.

Even if you do have the skills and training of a professional coin grader, the decision is still probably questionable. Why? Because even professional coin graders have differing opinions. This is why the reputable professional coin grading companies require the opinions of three (3) professional coin graders to arrive at the “Grade” designation to be placed on every coin.

The obvious conclusion is that a Serious Coin Collector is going to invest in rare and modern coins that are graded by one of the Top Four reputable Grading companies. It is the only certain way to eliminate the disagreements and arguments about the Grade of Any coin being Bought or Sold! It is the only certain way one can Value their coin collection. It also eliminates “getting taken” or cheated buying raw coins.

Have fun collecting your Perfect Coins!

Robert L Taylor, JD
Copyright © 2006

About The Author

Robert Taylor is a 59 year old retired Lawyer, from Denver, CO, who spent most of his career representing people who could not afford an attorney, and who has had a passion for collecting US coins. Wanting to share his Passion, he created http://www.ThePerfect-Coin.Com which features US Rare and Modern Dollars (from 1878) and Coins (from 1960), all Certified and Graded by NGC or PCGS.

For Beginning Coin Collectors, he then created http://www.Beginning-Coin-Collecting.Com with coins for less than $10.

A Primer on Coin Collecting

Coin collecting has become a multi-billion dollar industry across the world. The earliest coin collecting hobby can be traced back to about 1300 AD when Francesco Petrarca, an Italian scholar and poet, started saving coins and realized the growing value of his collection over time. Coin collecting differs from numismatics in that the latter is focused on the study of different types of currency including coins, notes and other monetary objects.

Coin collectors specialize in different types of collections. Often this is determined by the financial resources that can be invested as well as ease of availability of the type of coins. Collections vary from focusing on a specific country (often the most common form of coin collection since it's easier to accumulate coins from one's own country or a country that one frequently travels to) to a certain historic era like the US Colonial Period, the Russian Revolution etc.

Other obscure forms of collection include focusing on collecting error coins or exonumia where coins created due to die errors, uneven designs, double strikes, etc. are in great demand. A much more specialized but highly difficult form of collection is to focus on coins from a specific civilization in history, like the Roman, Celtic, Aryan or Goth eras.

Those interested in coin collecting can find hundreds of coin collecting clubs in their areas where members gather to discuss trends in numismatics as well as to evaluate rare coins. In the US, the American Numismatic Association has a large roster of coin collectors from around the country. Formed in 1891, this organization encourages research and collection of different types of currencies. The ANA brings out a monthly magazine called the Numismatist that is a treasure trove of data for the avid collector. The ANA also publishes a coin value determination guide that provides clarity around the complex subject of coin valuation.

The coin collection market, like the stock and real estate market, has its ups and downs. The value of a coin is cyclical and can vary strongly based on demand or other current events. Often, coin collectors will find that certain coins may never appreciate over time even though they may be from a unique era or period. Conversely, other commonly found coins like the 1 cent from, say a Lincoln era, may appreciate in value. Many coins may also incur costs for storage since they may have to be kept in sterile conditions to prevent damage from oxidation or general touch.

For those interested in coin collecting, the easiest way to start is by collecting coins from their own country and then gradually focusing on a specialized area. There are numerous stores (both physical and online) that carry a large inventory of rare coins. Auction sites like eBay also have frequent listing of rare coins. Caution must be exercised when purchasing from online stores since certificates of authenticity can be tampered and fake photographs can also be published. If possible, it is recommended to use online escrow services that will collect the payment on behalf of the seller and subsequently pay the seller only after the buyer receives and verifies the coin.

Michael Russell Your Independent guide to Coin Collecting Article Source: http://EzineArticles.com/?expert=Michael_Russell

Starting a Coin Collection - Why It's So Popular

People from all over the world study, collect and invest in rare coins and bullion coins. These hobbyists are called "numismatics", and many take their hobby very seriously! Coins are so fascinating for many reasons. One is that coins represent many different and exciting periods in American and World History. There are always interesting stories behind these coins and they are genuine mementos of past history. Their historical interest is unique to every culture that has ever used coins, and has played an important part in the economic growth of these societies.

Collectors of anything, whether it's toy trains, rocks, hotwheels or artwork offers the collectors a feeling of satisfaction. Coins have the added advantage of their extraordinary endurance, easy storage and display factors, and importantly, the ability to complete sets. Collectors should take good care of their coins (and usually do!), since they will probably last for hundreds or even thousands of years! The earliest known coins were from the Lydian society, and were called "starters". They were made of a gold and silver alloy, and were used around 600-700BC! So we know that coins can last a long time! Starting a coin collection is easy and there are several ways you can so this. A favorite way of collecting is to start a general collection of a variety of different coins. For example, you might acquire a Liberty Walking Half Dollar, Buffalo Nickel, an Anthony Dollar, or a Peace Silver Dollar. You'll probably become attracted and interested to one or another because of its intricate design or interesting history. You then might want to complete a set of this particular coin, say every date and mint mark for the Peace Silver Dollar for example. Or you could collect one example for every different Buffalo Nickel, and then proceed to a different coin. The choice is your preference (and budget!). Anyone can find a coin that they like that will fit into their budget, and allow them to complete a set.

Another popular method of collecting is to buy type. You do this by assembling coins that have different stamps or designs. You can collect coins of any one denomination (for example, all cents, all quarters, all dimes etc.), or maybe just collect the coins of one century in history. This kind of collecting coins will help you to see the full overview of the coin designs, and just how these designs progressed through history.

If your budget doesn't permit you to collect a complete set of a coin that you really like, you can collect a Year Set. This would consist of acquiring a coin from each year that the particular coin was minted. You don't have to worry about mint mark, just the year. So if you want to collect sought after and valuable gold coins, such as the Indian Head $10 Gold piece which was minted from 1907 to 1933, you would just collect one of each year regardless of which Mint it came from. (If it was minted in Philadelphia or San Francisco for example, it wouldn't matter, just as long as you have one coin from each year.) This is a fun and lesser expensive way to complete a coin collection, and will give the collector immense pride and much satisfaction!

Collecting coins is really very easy to do today. People with middle income budgets, or even those with less modest budgets, can all enjoy the fun and excitement of coin collecting. Get started by visiting the many numismatic (coin collecting) sites on the web. Research all of the interesting coins you can. Find a coin you like and start collecting today!

Michael Russell

Your Independent guide to Coin Collecting

Article Source: http://EzineArticles.com/?expert=Michael_Russell

Family Coin Collecting - A Great Home Activity For All

Although huge amounts of money can be invested in collecting some types of American coins, It is possible to have a load of fun collecting coins without really investing much money at all. I don't have much money invested in our little coin collections, including those that belong to my kids. In my opinion it's really not necessary. We don't do it as an investment or anything - its really just a family activity. The kids get a big kick out of it. When I was a kid, you could sort through pocket change and find coins minted in the teens and twenties. Now days you have to buy bags of wheat cents. Not to worry, they are fairly inexpensive. When I brought the first bags of wheat backed Lincoln pennies home, I didn't know if the kids would be interested, but they dove in and really had fun. It was like a treasure hunt and the blue Whitman collection folders, like I bought for children, are almost exactly the same as when I was collecting coins as a kid. We have also collected and sorted through old nickels, both Jefferson and Indian Head or buffalo nickels. I especially like those Buffalo nickels myself, but with all the Washington "statehood" quarters, there is a lot of interest in Washington quarters as well.

Collecting coins that are a century or more old gives one a special feel for the history of our nation. You wonder about the history these heavily worn coins have seen. These old coins also say so much about our nation, honoring Liberty and freedom above all. In the same way, today's politically correct coins which exclusively promote the politicians of the past tell of the foibles of our own modern USA (what subject could possibly be more dear to our self-absorbed and narcissistic federal politicians when they are trying to decide what should appear on our coins than the aggrandizement of politicians like themselves).

There are many types of coins to collect: error coin collecting, ancient coin collecting, international coin collecting, silver coin collecting - there are just so many ways to approach it that its hard to count them all. There really is no right and wrong way to collect coins, in spite of what many so called experts say. You have to decide what your goal is. Do you want to have a family hobby? Well, inexpensive wheat cents are an easy way to get started. Do you want to invest significant money in coins hoping that they will go up in price? Investment guides want you to buy the very highest grades of uncirculated coins, but sometimes regular old circulated coins appreciate significantly in price as well (circulated means the coin has some signs of wear – and sometimes a lot of wear). I have certainly seen the prices of the circulated buffalo nickels I purchase go up steeply in price over the last five years. In the end, its all up to you! I recommend that you buy the coins you like.

If you would like to see some of the coins the author collects and learn more about family coin collecting, take a look at the author’s website: http://nevada-outback-gems.com/coin_collecting/Family_coin_collecting.htm

For information about investing in gold or silver coins and other bullion products, take a look at the author’s website: http://nevada-outback-gems.com/gold_invest/investing_gold_vehicles.htm

Chris Ralph writes on small scale mining and prospecting for the ICMJ Mining Journal. He has a Mining Engineering degree from the Mackay School of Mines and currently works as an Environmental Engineer. He owns 3 Nevada turquoise mines and markets his own line of jewelry. His jewelry and information site can be seen at:

http://nevada-outback-gems.com

Article Source: http://EzineArticles.com/?expert=Chris_Ralph

Your Coin Collecting Care

Coin collecting may not be a passive hobby as some might think. The hobby requires delicate attention to detail and proper handling of valuable coins. So how does one handle and maintain a coin collection properly?

Touching Coins

Handing coins can have an effect on the coin’s condition. It’s important to consider carefully how you touch your coins. The fingers contain bodily oils and grit that might affect the coin’s color or cause scratches on the coin’s face. In fact, excessive touching may cause it to discolor. To be sure that you handle coins properly, wear latex gloves. Another safe practice would be to handle the coin on the edges since you won’t affect the front and back parts of the coin.

Breaking the holder or container would not be a good practice for coin collecting. By doing so, you’ll decrease the value of the coin from a mint-issue package. If a minted coin has a holder, then the container is part of the set - meaning it’s intended to be intact. Breaking it would make it less valuable.

Constant coin handling will ultimately diminish the value as well. If you have to touch the coin, it’s best to wash your hand thoroughly. In addition, make sure that you don’t put the coin on a hard surface. Placing the coin on such a surface could cause scratches on the item’s surface.

Temperature and Humidity

Coins for collecting should be placed in an area that is as close to room temperature. Coins in a damp or cold basement or in a hot attic will cause coins to oxidize and ultimately age. Rooms that are dry should be what you should seek to store coins. Moreover, storing the coins in the basement or attic will expose the collectibles to an environment that will break down the storage containers.

Coin storage

Storage is also a very important part of coin collecting maintenance. Find containers or plastic pockets that protect the coin from the elements. Some you can find available in sheets at a hobby or coin collector shop.

Cleaning Coins

You should seriously weigh the benefits and disadvantages of cleaning coins. Sometimes cleaning or polishing a coin is not the right thing to do, especially if the coin is in a packaged container. If the coin becomes exposed to air, the metal may oxidize or lose it’s toning.

Do not use metal cleaners to clean the collectibles. Doing so will also have damaging consequences such as discoloring.

However, if washing is a must, make sure you wash your hands with soap to remove oil or grit. You can then apply a soapy bath for the coins in a small container. Look for a plastic container since hard surface containers like glass might affect the coin properties. Gently rub the sides of the coins once it’s in the bath. When you complete cleaning, dry the coin with a soft towel.

Coin collecting is a hobby that one should be careful in maintaining the assets. Not applying careful coin handling techniques could seriously affect the value of the coins. There are plenty of resources to help you get started with coin handling and care.

Michael Russell Your Independent guide to Coin Collecting Article Source: http://EzineArticles.com/?expert=Michael_Russell

Coin Dealers

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. From these places the coin dealers have a good chance at selecting good rate coins that they will be able to sell to mint collectors who are interested in those coin types.

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.

Thank you for taking you time to read through this information if you’re concerned in gathering more knowledge please continue to search this site.

Michael Malega presents several Coin Dealers articles for your information. You can visit Michael's World Wide Web place at: http://www.coin-dealers-shops-values.com/Coin-Dealers.php

Article Source: http://EzineArticles.com/?expert=Michael_Malega

COIN VALUES

The market value of any coin—the price a dealer can actually receive for it—is determined by supply and demand. Some exotic coins are quite scarce, but their prices remain low because there is no great demand for them. Yet many fairly recent British, Canadian, and American coins, as well as coins from other times and places, are more available, but their prices are relatively high because there are far more numismatists who collect them. As with any collectable, the condition of a coin is a major factor in determining its value.

When deciding on the purchase of expensive coins or notes, collectors must do the same kind of research necessary for any other major investment. The collector must assess the current market value of the item, its current resale value, and its potential appreciation. Above all, the collector must be knowledgeable enough to know if a coin is genuine and properly graded (assessed as to condition) or must have confidence that the dealer does.

Coin catalogs give some idea of the current prices for various coins. However, dealer advertisements in coin magazines and newspapers are usually more up to date. Coin auctions are an important feature of major coin collecting conventions. Catalogs of the items to be sold are issued ahead of time, and lists of the prices that the items sold for can often be obtained afterward. Coin conventions usually have tables where numismatists can consider the offerings of many dealers, and coin shops also often provide a wide selection. Web sites are a good source for information on the value and availability of coins.

MINTING COINS

A major change in the way coins were produced occurred during the 16th century, when heavy machinery was first used to mint coins. Many of these new mints were located in water-driven mills, thus these coins were referred to as milled coins. This technique was a quantum leap over hammering. Not only were milled coins attractive and much more uniform, but continuous small parallel cuts—known as a milled or reeded edge, as on the United States quarter—made it more difficult to shave off slivers of precious metal.

Spanish conquerors discovered huge amounts of gold and silver in the Americas. Turning these metals into coins made it easier to divide and transport them, and the Spaniards established the first mint in the New World in Mexico City in 1535. Spain soon built minting facilities throughout its Spanish-American empire.

The areas of the New World colonized by Britain did not yield nearly the quantities of gold and silver as the Spanish territories, and English-speaking America did not establish its own mints until much later. Although the colonists still used English pence and pounds, they also exchanged French, Dutch, and German money, as well as coins struck in Spanish America.

The United States established its first official mint in Philadelphia, Pennsylvania, in 1792. Regular coinage began the following year, based on a new unit of currency, the dollar. The word dollar was derived from the German thaler, or taler, a large silver coin first issued in Central Europe in the 16th century, and later adapted to daler. The dollar was the world’s first unit of currency divided into decimal subunits, which simplified the use of money. By the end of the 20th century, all developed countries had switched to a decimal system within their units of currency. In addition to the regular denominations in circulation today (cent, 5 cents, 10 cents, 25 cents, 50 cents, and dollar), the U.S. mint has produced half-cent, 2-cent, 3-cent, and 20-cent pieces as well as gold coins ranging from $1 to $20. Canada issued its first coins in 1858, borrowing the "dollar" name for its unit of currency from the United States.

HYSTORY OF COIN COLLECTING

Coin collectors often begin by saving coins they have received in circulation, but found interesting. Some focus on coins of a certain nation or historic period, some collect coins from various nations, some settle on error coins or exonumia, such as currency, tokens or military challenge coins. Every collector collects what interests them, and there are as many ways of collecting as there are collectors