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.