COIN COLLECTING

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 Table of Contents

TABLE OF CONTENTS
INTRODUCTION
CHAPTER 1. BRIEF HISTORY OF COINS AND COIN COLLECTION

CHAPTER 2. WHY COLLECTING COINS?

START YOUR COLLECTION
LINCOLN CENT SERIES
50 STATES AND AMERICA THE BEAUTIFUL QUARTERS
BEYOND CIRCULATION COINS
CHAPTER 3. WHO COLLECTS COINS?
CHAPTER 4. HOW TO BEGIN A COIN COLLECTION
STEP 1: BEGIN YOUR COIN COLLECTION
STEP 2: IT’S IMPORTANT TO DO YOUR RESEARCH
STEP 3: MEETING FELLOW COIN DEALERS TO LEARN FROM
STEP 4: CHOOSING WHAT TO COLLECT
CHAPTER 5. ANATOMY OF A COIN
CHAPTER 6. DIFFERENT KINDS OF COINS
GOLD AND SILVER COINS
COMMEMORATIVE COINS
REVOLUTIONARY COINS
ANCIENT COINS
SOUVENIR PENNIES
MEDALLIONS
TOKENS
ERROR COINS
BU ROLLS
SILVER CERTIFICATES
ART BARS
CHAPTER 7. COIN COLLECTING STRATEGIES FOR BEGINNERS
BEGIN SMALL AND SIMPLE
GATHER WHATEVER YOU LIKE
HANDLE COINS WITH CARE AND KEEP THEM IN A SECURE LOCATION
IT ISN’T A COMPETITION
PURCHASE THE BOOK
WEBSITES AND MAGAZINES
PARTICIPATE IN A COIN CLUB
MAKE A STRATEGY
CHAPTER 8. COIN GRADING
THE 70-POINT COIN GRADING SCALE
THE THREE COIN-GRADING BUCKETS
HOW TO GRADE CIRCULATED COINS
CHAPTER 9. NUMISMATIC LANGUAGE
TERMS RELATED TO THE CONDITION OF A COIN
TERM USED TO DESCRIBE CHARACTERISTICS
TERMS OF DENOMINATIONS
CHAPTER 10. WHAT ARE MINTS AND MINT MARKS
THE SIGNIFICANCE OF MINT MARKS
THE PROCEDURE OF MINTING
 THE STYLE
CHAPTER 11. PRESERVE AND PROTECT THE COLLECTION
MINT COINS
SOAKING COIN
HOW TO STORE YOUR COINS
COLLECTIBLE COINS IN THEIR CASES
PROTECTING YOUR COLLECTION FROM LOSS BY FIRE OR THEFT
CHAPTER 12. DOCUMENT YOUR COLLECTION
WHY CATALOG MY COINS?
WAYS TO CATALOG COINS
COIN COLLECTING SOFTWARE
CHAPTER 13. FINDING FAKE COINS
HOW TO DISCOVER FAKE COINS
CHAPTER 14. MAKING MONEY WITH COINS
WHAT MAKES COINS VALUABLE?
COIN CHARACTERISTICS TO CONSIDER
WHERE AND HOW TO SELL YOUR COINS
HOW TO SELL COINS ON EBAY
CONCLUSION
 Introduction

People actually collect coins for a variety of purposes. Collectors that collect coins based on their
expected future value can be found. Many people collect coins once because of the metal variety,
and some for the historical worth of the coin. Others enjoy checking mint markings and dates on
their daily change and enjoy collecting common coins. Others have an extensive collection of
coins from other nations. From the 1800s until the early 1900s, many coin collectors spend
thousands of dollars on rare gold and silver coins. Anyone of any age can actually enjoy and
benefit from the hobby of coin collecting. Many coin collectors started collecting as children,
collecting dimes or cents, and many have made coin collecting a lifelong passion. It necessitates
initial financial investment; thus, joining a coin collectors' organization to acquire ideas and
assistance from qualified and experienced collectors is recommended.

You'll need someone to buy your coins from, and it can be difficult to find a reputable coin
dealer if you're new to the pastime. Having someone who has been doing this for a long time can
be invaluable in guiding you toward a trustworthy and competent coin dealer. Begin by obtaining
a large magnifying lens and inspecting coins in a bright environment to spot mintmarks,
mistakes, and date reading on old or damaged coins.

Decide the coins you want to collect and purchase a "bookshelf folder" for each. You'll also need
storage, such as clear plastic tubes or coin tubes with top screws, to keep your coins safe until
you're ready to place them in a coin album; storage can also be useful for storing duplicate coins.
It will help if you actually familiarize yourself with the various coin values. Based on dealer
pricing, please keep track of what kinds of coins are sold and how they're priced. You'll also
need someone (or a few people) to teach you how to accurately assess a coin based on its mint
mark, age, color, surface, and condition."

The newspaper, particularly the section on numismatics, will be of great interest to you as you
get more active and interested in your passion and want to keep up with current events in the
world of numismatics.

As you gain more expertise with coin collecting, your "eye for coins" will improve and mature to
the point where you'll be studying features and nuances like coin lettering more closely, ensuring
sure the letters aren't blemished or blurred but still discernible. You'll be so engrossed in the
coin's common state that you'll unintentionally dismiss coins that exhibit signs of abrasion, and
you'll miss out on the fun of coin collecting.

Spend as much time as you actually need reading, looking at images, learning from other
collectors, and asking as many questions as you actually need to from not only other collectors
but also dealers. Coin collecting is a hobby that will remain as long as you do. Your knowledge
and skills will both save and make you money when the time comes, but most importantly, you
will have fun while studying.
 Chapter 1. Brief History of Coins and Coin Collection

The coin collection started when the first coins emerged. It is said to be one of the world's oldest
hobbies. It was practiced for hundreds of years, mostly by royals; they called it the King's hobby.
It was not actually until the 1850s that it became popular in the United States. Numismatics
(another name for coin collectors) started collecting coins from mint facilities in 1893. Since
then, the practice or art, as some refer to it, has grown as millions of coins have been minted ever
since. There are various mints in the United States. On every coin’s surface, there is a small mark
called a mint mark, which denotes which city or mint it was produced in. It may be small but a
mint mark is one of the factors considered when determining the value of a coin.

Numismatics, or coin collecting as it is more popularly known, originated from the Greek word
"nomisma," which means legal currency or coin. If today we use checks, paper notes, and quite
more often, plastic cards, the ancient societies used coins for their day-to-day purchases.

The first coins known to have been minted were from Lydia in Asia Minor which today is part of
Turkey but was under Greek influence then. They date back to more than 2,600 years ago. Those
first coins were made of gold and silver alloy. The Lydians then were keen on business and they
were able to build a wealthy society that made advances in trade and commerce. Coins from this
era show the progress of coin design throughout history. During those times, the most common
medium of payment were pieces of gold and silver ingots. Because no standards existed then and
there were many dishonest merchants, each transaction involving payment in gold and silver
called for a careful weighing of the medium. Coins were then invented circa 650 B.C. and were
minted using standardized weights of gold and silver. The government stamped it with a
guarantee of value. The next century saw the development of coins as the principal medium of
business.

It is thought that the hobby of coin collecting began as soon as the first coin was minted. Since
banks were nonexistent at the time, collecting them seemed to be a practical way to store them.
They were being hoarded not only for their intrinsic value but because of their rarity too. These
coins have become a family legacy, being passed from one generation to the next.

There are scholars who believe that real coin collecting began in the late middle ages when many
European kings actually sought out and collected rare coins used as tenders by ancient societies.
One interesting fact they found out was that no two coins were identical owing to the methods of
striking the coins. Coins were struck by hand then and it was only during the 1500s that coins
began to be minted using machines. Because those European kings started collecting coins, this
hobby is often referred to as the “Hobby of Kings.”

Coin collecting gained popularity during the Renaissance and many enterprising people began to
create many high-quality forgeries. Today, even these forgeries have been given a high value
because of their quality, age, and historical significance.

In the United States, the first coins were made of copper and were struck at the Philadelphia Mint
starting in 1793, as part of the Coinage Act. Production at that time was manually done and coins
were struck one at a time. The government eventually opened more US mint branches, so to
distinguish coins minted in each one; a system for mint marks was established on March 3, 1835.
Regulations were prescribed for identifying coins stamped at each branch. They were to assure
control of all coinage and the production of coins was standard for all.

Modern numismatics involves the study of mid-17th to 21st century coins. It is during this period
that coins began to be struck using machines. If ancient coins attracted interest from professional
scholars, historians, and archeologists due to their historical and archeological significance,
modern numismatics caters to the needs of collectors and amateur enthusiasts. It focuses on the
determination of the coin's relative rarity, based on their production and use. Other matters of
interest in modern numismatics include coin varieties, mint-made errors, the outcome of
progressive die wear, mint marks, and figures.

In 1858, a group of collectors founded the American Numismatic Society (ANS) as an

international non-profit organization that upholds the preservation and study of coins and other
numismatic materials such as medals and paper money. The coins most sought after by coin
collectors of today include those that have historical interest, have mint errors, limited issue, and
commemorative coins. In connection with this, one of the most valuable skills a coin collector
can possess is learning how to grade coins accurately.
 Chapter 2. Why Collecting Coins?

For the vast majority of people, collecting is about the adventure of the pursuit and the
fulfillment when you, at last, complete a set following quite a while of chasing for that last small
coin. To get the greatest out of your pastime, set yourself explicit goals for coins you'd like to get
your hands on and begin looking.

A lot of pastimes require a huge money effort, but not this one. In fact, gathering coins is
virtually cost-free. Of course, while you proceed in your path you will want to add that particular
piece to your collection, and then you will probably want tos spend some money. But for that
time, you will also have learned the real value of coins and how to buy them in such a way that
the money you spend won’t be wasted. In fact, you will end up considering your pastime money
as an investment.
 Start Your Collection

Starting your coin collection is simple. The best news is it doesn't actually have to cost anything!

All you need to do is simply reach into your pants pockets or purse. Many coin collectors get
their start in the hobby exactly this way. They'll find a coin in change that looks different or is
unusually bright. It sparks an interest that leads to finding more about that particular coin.

There's little risk. Beginning your first coin collection from the change you receive every day
doesn't cost you anything. I find collecting from circulation to be challenging. Much of the
coinage that passes through our hands tends to be worn. So finding a well-preserved coin in
pocket change is a welcome surprise.

If starting your coin collection turns out to be something that's not for you, just put the coins
back into circulation by spending them.
 Lincoln Cent Series

By far, the most popular coins to collect are Lincoln Cents. We receive them in change nearly
every day. Much older date Lincoln Cents are still in circulation.

The U.S. started minting Lincoln Cents in 1909, and through 7 major design changes over the
years, it is still in production today. Many collectors have made a career of just collecting and
studying Lincoln Cents.

Lincoln Wheat-Back series cents were produced from 1909 to 1958. Probably the most famous
of these coins is the 1909-S VDB. The "VDB" are the initials of the designer, Victor David
Brenner, and are found near the bottom rim on the reverse of the coins.

People were so incensed by the size of the initials that they demanded they be removed.
Production was halted, the design changed, and the initials were removed from the coins.
Brenner's initials wouldn't reappear on the coin again until 1918, where you'll find them today,
on the lower part of Lincoln's shoulder on the obverse of the coin.

Memorial reverse Lincoln cents were introduced in 1959. The obverse of the cents remained the
same with Lincoln's bust featured. This design, with minor changes over the years, remained in
production until 2008. In 1982 the coins went through a transition from 95% copper to copper-
coated zinc. Interesting note: Lincoln Memorial cents are the only coin produced by the U.S.
Mint to feature the same person on both the obverse and reverse. Look closely at the center of
the Reverse side, and you'll find Lincoln in the chair.

The year 2009 was a grand year for Lincoln cent fans. To celebrate the 200th anniversary of
President Lincoln's birth, four different reverse designs of the coins were released during the year
that depicted President Lincoln's life. The response to these coins' release was similar to the
public's response to the overwhelming 1909 cent. Coin collectors and everyday folks stood in
lines to receive them. Fewer than 2.4 billion coins total for circulation were minted of the four
reverse designs. I know 2.4 billion sounds like a lot, but in the previous year's mintages of cents,
it's a small number. How often do you find them in pocket change?

For 2010 the U.S. Mint again released a new reverse version, the Shield reverse, which is still in
production today. While it's not the most popular design of Lincoln cents released, it is still
popular to find and collect in Mint State condition.

Within the more than 100-year production of the Lincoln, cents are many varieties and error
coins collected. Each one is a challenge to the dedicated Lincoln cent collector. I recently had a
conversation with a friend who had just completed a full set of Lincoln Wheat cents. He was
wondering what to start next. I suggested he might want to consider collecting known error
coins. After a few days of thinking about it, he decided that's a great way to extend his collection
and increase its value.
 50 States and America The Beautiful Quarters

The 50 States Quarter Series was released for circulation in 1999 and quickly became a favorite
with collectors. Each year five new reverse designs were released that celebrated a different
state. During those ten years, slightly more than 34.8 billion 50 States Quarters were produced.
In addition to the regular circulation coins, special silver Quarter Proofs were created especially
for collectors. Several varieties and error coins have been discovered over the years, making
completing a set more of a challenge.

These coins are perhaps most responsible for starting new coin collectors on their journey to a
great coin collection than any other coins in the last two decades.

The challenge is to create a coin collection of all 50 States Quarters from just what is found in
circulation! It can be done, I've done it, and you can, too. It does take some time and a little
patience, but it's a great project that can be taken up by the whole family. Get one of the special
50 State Quarters folders to keep your coins in. They're inexpensive and protect your coins, too.

Following up on the 50 States Quarters Series's great success, the U.S. Mint is now releasing the
America The Beautiful Quarters series. These quarters feature the nation's National Parks and
other national sites. Five designs are being released each year for a total of 56 different coins for
the series.
 Beyond Circulation Coins

The coin collector getting started today has many options beyond collecting coins from
circulation. The U.S. Mint produces sets each year of the coins released for circulation. One of
my favorite sets is the Uncirculated Sets that contain one coin of each denomination from each
mint where it is produced.

There are also the Proof Sets that are released yearly. Proof coins are specially produced for coin
collectors and are minted separately from coins intended for circulation.

Stepping it up a bit, the Presidential $1 coin might be a good series to begin with. To
commemorate past Presidents in 2007, the U.S Mint began issuing coins with images of the
Presidents on the obverse, the heads side of the coin, beginning with Presidents Washington,
Adams, Jefferson, and Madison. Four more coins are released each year with the next four
presidents in the order they served.

Again, there is little risk if you decide to quit collecting coins, since they can be sent right back
into circulation by simply spending them.

You might decide instead of the above coins to start your coin collection with Wheat Pennies,
Buffalo Nickels or Roosevelt Dimes. Remember, it's your coin collection, so go for the coins that
interest you the most.

Start saving your pocket or purse change. Go through it regularly and save out the coins your
interested in. It could be 50 States Quarters, Roosevelt Dimes, Lincoln Memorial Cents, or
whatever coin you find the most interesting. It helps to narrow your focus and collect only one
series at a time.

Once you've accumulated some coins, purchase an inexpensive folder to store and protect your
coins.

Continue to educate yourself about your coins. Now is the time to start locating the books with
the in-depth knowledge of the coins you're collecting.

As your collection grows, you may actually find yourself unable to find the coins you're after in
your regular pocket change. Now is the time to actually visit your local bank, purchase a few
rolls of coins, and go through them.

Now is actually also a good time to add an inexpensive magnifying glass or coin loupe so you
can begin examining the details of coins as you sort through them to find the best. You'll also
begin learning the "Art" of grading coins in the best way possible - experience!

Most of these coins in circulated condition are inexpensive and can be added to your collection
without breaking the bank. Just because coins aren't expensive doesn't mean they won't add up to
a significant collection.

As a beginning coin collector, it's best to start with more inexpensive circulated coins to gain
experience and knowledge. After you've gained some experience, you'll be better equipped to
start looking at more expensive and scarcer coins.

That's not to say you can't start your first collection by acquiring very expensive coins. You're
certainly welcome to do that, and coin dealers will thank you for the business. The problem with
starting that way? Your mistakes are going to be very expensive.

Don't make mistakes, you say? I don't know of any coin collectors who are honest about it that
can't tell you some stories about the coins they should never have bought.

I've kept most of those coins in a special jar. Then, whenever I get antsy to buy a coin I know
doesn't fit my collecting goals, I pull out that jar and am reminded why I might want to
reconsider buying a problem coin.

You're going to make mistakes. It's part of the hobby. You will come across coins that you'll just
believe you have to have and will die if you don't buy it. Those are the coins you want to be wary
of.

No matter where you start, remember, it's your coin collection. Collect the coins you want, enjoy
the search, educate yourself, involve your kids, and have fun!
 Chapter 3. Who Collects Coins?

What might be an even more important myth to bust is related to who exactly can be a coin
collector. Perhaps associated with the image of the Victorian gentlemen interested in antiques,
coin collection tends to be associated with the highly affluent.

However, that is not always the case.

In fact, these days, coin collection is the kind of hobby that can engage a lot of people from a
number of social strata, age groups, and general interests. From children to grandparents, from
engineers to artists, and from men to women, everyone can be a coin collector these days.

Who collects coins? It could be any of the following:

A classic hunter will usually go out hunting with a list and never stray away from it. This
collector is organized and steady, and they will frequently not stop until they tick all the
boxes on their list.

A speculator will only collect with the purpose of multiplying his investment. As a
 general rule, I do not actually advise you to do this, especially not as a beginner and not
even as a general rule, as coin collecting can be about much more than just profit.

The aesthetic collector will mostly collect coins for their aesthetic appearance. For this
type of collector, how coins look is sometimes more important than their appraised
value.

The perfectionist will continuously seek for coins that are perfect on all grounds. They
want the coin to look flawless, they want it to be valuable, and they want it to be in great
condition.

The cheap collector will want to collect as much as possible and they will always hunt for
a bargain. His main criterion is the price and he will even hoard coins just because they
were cheap.

The presenter is the kind of collector who does this to show off. He will build an entire
altar for his coins in his house and he will not miss an opportunity to show them off to
whomever he invites over to his place.

The academic collector is sometimes a numismatist (at least at an amateur level). He will
collect not just coins, but a lot of information about his coins as well - so much so that he
would be able to even publish a book on the topic.

The historian collector will collect coins because they are bits of history. Coins are the
living proof of a bygone time and this type of collector will build an almost emotional
connection to his coins.

The patriot will mostly collect coins that are connected to the history of his country. Most
times, it is likely that the same person will collect other memorabilia related to his
country as well.

Of course, you might grow into a type of collector that does not necessarily fall into any of the
aforementioned categories. The main purpose of explaining them was not to help you “pick” a
typology, but to help you understand that there are many types of coin collectors and that this can
truly be an activity suitable for pretty much everyone.
 Chapter 4. How to Begin a Coin Collection

In this part, you'll discover how to begin a coin collection point by point and then go on to find
everything you need to understand about being a great coin collector.

You may begin your coin collection using the coins you get in change regularly while
understanding all there is to know about the pastime.

That way, you may get a sense of coin collecting without having to worry about investing a lot of
money or actually risking a loss.
 Step 1: Begin Your Coin Collection

If you're just actually getting started with your coin collection, circulation coins are the most
excellent place to begin.

You have no danger when you begin a coin collection using coins from your wallet or bag. For
example, if you decide that coin collecting isn't for you, you may just sell the coins after a time.

The most popular coin series for anyone beginning a coin collection is state quarters. Hundreds
of beginners have been attracted to the hobby due to this series.

Because every state's coin has a distinctive design, the series offers a lot of intriguing coins, and
it's ideal for someone who is just beginning a coin collection.

The Presidential "Dollar Series" is another excellent series to start a coin collection with. Even
though, in our experience, this type of coin may not be as commonly circulated as state quarters.
If you want to start collecting Presidential Dollars, verify with the bank and see what cash
they've on hand, or go on Amazon or eBay. The current year's Presidential Dollar coins may be
seen on the United States Mint's website.

You might also choose to begin your coin collection with Jefferson Nickels, Roosevelt Dimes, or
Lincoln Cents.

Here's how to get started with your coin collection:

Focus on saving coins from the money you get daily. It might be Presidential Dollars,
State Quarters, or any other coin series you want to begin with.

It's essential to keep your emphasis restricted when you're just starting with a coin collection.

Once you've gathered a few pennies, you may wish to invest in an affordable album to
arrange them. They come with a space for each coin you'll need to finish the set, and
they'll even function with circulating coins.

Locate a decent reference book, do an Online search, or subscribe to monthly or weekly

periodicals on the topic of coin collecting that interests you the most. Begin with a book
on presidential dollars or state quarters, or simply U.S. coins in particular, and study from
there.

Learning is the key to actual accomplishment in coin collecting, as it is actually in almost any
other pastime or field of interest.
You actually risk squandering a great deal of money on coins that are actually either over-
graded, counterfeit or have another issue if you actually do not even take the chance to teach
yourself.

So, while you're actually enjoying the first experience of coin collecting with a delightful
collection of circulating coins, take a moment to actually educate yourself.

If the coin collection isn't increasing as quickly as you'd like, you may buy rolls of coins
from the local bank. Look through the coins until you discover the ones you want to
finish your set, then return the ones you don't have to the bank and repeat the procedure.

Continue to study all you can regarding coins and coin gathering as your collection grows so that
when you're ready to expand your collection and include more precious and rare coins, you'll
have the competence and understanding to know you're making a wise investment.

When establishing a coin collection, start modest and work your way up to much more precious
coins as your expertise grows. Learn all there is to actually know about current coins and their
origins before moving on to older and more unusual coins.

Just keep in mind that establishing a coin collection isn't difficult. The essential thing is to enjoy
yourself while doing it. In reality, it may be both entertaining and instructive since there are no
hard and fast rules on what should be included in your collection.
 Step 2: It’s Important to Do Your Research

The hobby of coin collecting actually requires much research. Without it, you wouldn't be able to
actually recognize and determine the actual worth of a coin you own, or indeed any that you
might actually want to add to your hoard.

The first step in coin collecting research is to determine the coin. This is typically simple to do.

The information you'll need is readily stated on most coins, particularly U.S. ones, such as: What
nation issued the coin? When did it come out? And what is the face value of this item? Is there a
mint mark on it? Is it possible that more than one design was utilized that year, and if so, which
one would be it?

If your coin is written in a language you don't understand; you'll have to do a bit more research.
You may get started by typing the phrase from the coins into the web search engine.

You'll discover about coin grading services, scale, as well as how coins are rated in that area.
This will take some practice to grasp and master the art of grading coins truly, but knowing how
to determine the worth of the coins you gather is critical.

You'll need to know where a coin was made while performing your study for coin collecting.
This may be done by looking for the Mint Mark on the coins. Understand what Mint markings
are and where to find them on U.S. coins.

You'll also need to discover the factors that influence coin value; how else to look for your coins,
as well as what materials and accessories you'll want for your new pastime.

Also, don't forget to consider Coin Terms, the structure of a Coin, and coin gathering terms.
Study the coin terminologies in these two parts, so you'll understand what coin collectors and
other dealers mean when they say things like a striking body bag, toning, slab, or mule.

Here are a few additional ideas to aid you in your collecting study.

Trade Papers: Coin collectors may subscribe to various monthly or weekly publications
and trade papers. They'll keep you actually informed about the most recent coin
information and news, like price guides basic coin information, as well as in articles.
Numismatic News and Coin World are two excellent examples. Here's where you can
learn more about them.

Numismatic Guide Books: Reference books covering all aspects of coin collecting have
indeed been produced. When you've selected what kind of coins you want to collect, look
 for a book with further information on the date, price, and Mint. A coffee table magazine
with full-color photos of a range of coins would be an excellent option for a newbie just
starting in coin collections.

Price Guides: These guides indicate the prices of coins in various states of preservation.
When you start buying and selling currencies daily, you should start subscribing to a
monthly or weekly magazine that will provide you with more up-to-date pricing. The
annual book, A Field Guide of U.S Coins, often known as the "Red Book," is a decent
option for novices.

Grading Guidelines: Serious collectors must have grading guides. It is difficult to

determine the worth of a coin without understanding its grade. Photo grade is the favorite
and would suggest to someone just beginning to collect coins. To determine the status of
a coin, match it to the image that best fits the state of that coin.

Note that coin grades may differ somewhat from one guidebook to the next. Although the U.S.
has a defined system for grading coins, it's still subject to human interpretation. As a result,
various dealers or collectors might have somewhat varying grading opinions.
 Step 3: Meeting Fellow Coin Dealers to Learn From

Anyone who wants to succeed in the coin collecting pastime should meet fellow coin dealers.

Magazines, the Internet, and books are all excellent sources of knowledge, and it is strongly
advised that you read and study material from all of them. As a result, the resources we'll
describe in this part aren't meant to substitute for them, but rather an addition to your education.

Nobody beats live, first-hand, in-person tutoring from experienced professional coin dealers
when you're just getting started with your collection. Somebody who's been in your shoes and is
eager to share their knowledge with novices to the pastime.

But have no fear; most coin dealers are similar to fishers. They like discussing and bragging
about their coin collecting adventures.

Here are a few spots where you may meet coin enthusiasts and discover more about this
fascinating hobby.

Coin Clubs: Find a coin club in your region and join. They're a fantastic source of
knowledge and inspiration.

Many coin clubs assemble once or twice a month and provide a range of activities for coin
collectors, featuring instructional presentations on different numismatic topics.

An auction night or a bourse, wherein members may trade, purchase, or sell coins from one
another, is persistent.

"Display and Tell" is immensely popular with coin groups and youth collector programs.

Go through the yellow pages or contact your local coin collectors to discover one near you.

Coin Collectors: Local coin collectors can provide a wealth of knowledge. Find someone
reliable, knowledgeable, and ready to share their expertise with you in your area.

It's important to remember just because somebody professes to be a coin collector doesn't
guarantee they're an expert. They might not know much more about coin dealing than you do.

Regional coin clubs would tell you which coin merchants in the region are trustworthy. The coin
collector will undoubtedly be a member of the coin club.

Coin Shows: Make an effort to attend a coin exhibition if one comes to a nearby city.
These event attendees all have one thing in common: coins. You'll also come across some
 incredibly unique coins.

Local coin groups or professional show operators often organize and advertise coin shows. They
are generally held on weekends, and there is occasionally a modest admission fee, which is
usually just a small fortune.

Coin shows provide a chance for coin collectors, coin dealers, and the wider public to purchase,
sell, and exchange coins and other numismatic goods and educational sessions offered by
specialists on various numismatic themes.

If you want to sell coins or a coin, do your investigation ahead of time and have a decent sense of
how much your coin is valued; but do not expect to earn total catalog value. Whenever the dealer
resells the coin, he must make a profit.

If you want to purchase coins, do your investigation ahead of time and also don't purchase the
first coin, you come across. Before deciding, go to a few different coin sellers' tables.

Coin exhibitions are frequently on display, allowing beginner coin collectors to view rare and
expensive coins that they might never see again.

Educational Workshops: Make a point of attending the informative lectures held at

these coin events. Experts will deliver these lectures, and a broad range of subjects will be
explored. After the session, you will generally get the opportunity to ask professional
questions.
 Step 4: Choosing What to Collect

Every Coin Collection is as distinct and varied as the individuals who make it. You may build
your collection on possibly hundreds of different themes, coin varieties, and subjects.

We'll offer you some samples in this part to help you determine which route you need to go with
your selection.

Here are actually some suggestions for getting started with a coin collection. You don't, though,
have to use just one way. And do not be afraid to actually mix and match one or more of the
ideas below to create the perfect coin collection for you.

Collect Coins By Nation: Gather coins from your preferred country or many countries.
You could attempt to collect coins from as many nations as possible.

Collect Coins By Year: There are a few ways to go forward: You may attempt to
discover every coin created in a particular year for a specific nation.

Every year a coin is created, you may attempt to collect one coin of that kind. If you choose
Roosevelt dimes, for instance, you will strive to collect a dime from each year from 1946 to the
current date. For novices, this is an excellent option. Coin albums made for these sorts of coin
collections are accessible.

Collect Coins By Mint Mark: Many coins are produced by many mints in the same
year. As Roosevelt dimes were produced in Denver, San Francisco, and Philadelphia,
combining a mint mark collection with the year collection outlined above would result in
3 dimes for most years.

Collect Coins By Variety: These coins issued from the Mint are occasionally somewhat
different for different reasons. This is generally a minor feature, such as an additional tree
on certain "Minnesota" state quarters or the number of leaves on the "Wisconsin" state
quarter's ear of corn.

Collect A Specific Denomination: You may, for instance, restrict your collection to
nickels, pennies, or any other coin denomination. You may perhaps limit yourself to Two
half dollars.

Acquire Coins From A Certain Era: You could be interested in collecting ancient coins
or pieces from a specific historical period, like United States Colonial Coins.

Organize Your Collection By Series Or Types: A series is a group of years when a coin
with a particular denomination and design was struck. The United States "State Quarters,"
Buffalo Nickels, and Lincoln Pennies are more examples. A Type Set consists of each
style, series, or era of coinage.

Metal Collecting: You can only gather coins manufactured of a specific metal, like
silver, gold, or copper.

Collect By Topic: You may focus your collection on a theme, like coins depicting
animals, plants, flowers, cars, boats, or even Olympic Commemoration Coins.

Collect Fault Coins: Faulty coins are coins made in the same manner as regular coins
and are on the same equipment, but they contain an anomaly for whatever reason,
including distortion in the stamping machinery, absent components, or doubling of the
picture.

Collect Tokens And Medals: Another option is to collect commemorative tokens or

military medals. These 'coins' aren't legal tender and have no monetary worth, but they
have collection value.
 Chapter 5. Anatomy of a Coin

Refined metal is usually shipped in the form of ingots. These are large, rectangular metal blocks,
which can range from an ounce to hundreds of ounces. When you see pictures of Fort Knox, the
bricks of gold pictured in the vaults are ingots.

The ingots are rolled out into strips at the mint by passing through rolling machines, much like
rolling out the dough in a pasta maker. Each pass through the rolling machine will stretch it out
further, and each time through the machine, the rollers are adjusted to give a narrower tolerance
until the ingot has been rolled out to the thickness of the coin.

After being rolled into strips, the metal is sent to the punching machine. This machine will punch
circles out of the metal. These circles are approximately coin-sized and are called blanks. Blanks
must be marginally smaller in diameter and thicker than the final product because the blank will
be “squeezed” during the minting process. The pressure will force the metal to take the shape of
the coin.
All of this rolling and stretching affects the internal molecular structure of the metal. The atoms
of metal form a three-dimensional structure that is rearranged by all of this stress. A perfect
structure would have the atoms aligned in neat rows and columns, as seen in the left structure in
the figure above, but the work hardening breaks the bonds between the atoms and forms
dislocations. These dislocations resist any further stress and form an irregular pattern, as you can
see in the figure above.

This problem is actually solved by a process called “annealing.” The blanks are placed in a
furnace and heated to a certain temperature (the US mint uses temperatures above 700 C). When
heated, the atomic bonds can reform back to their regular structure. If allowed to cool to room
temperature slowly, iron will be much softer.

Following the annealing process, blanks are run through the “upsetting mill,” which tumbles
them until a raised lip is formed around the coin's edge. This raised lip will help direct the flow
of metal later in the minting process and be the coin's highest point. This will become the rim,
which helps protect the central designs. After the raised lip is formed, the blanks are called
planchets and are delivered to the coining room.

There are three dies required to make a coin – each die corresponds to one side of the coin. The
front of a coin is usually considered to be the side with the date. Traditionally on American
coins, this has been the side with the bust of a historical figure or an image of Lady Liberty. The
front of a coin is actually called the “obverse.” The back of a coin is called the “reverse.” On
American coins, the reverse has traditionally had an eagle image, a statement of value, or a
wreath design of some sort.

The third side of a coin, the edge, is often ignored. The edge is usually smooth on lower
denominations, as seen in the bottom picture in the figure above (called “plain”). Higher
denominations traditionally made of silver or gold have reeded edges (the top picture in Figure
above). The reeded edge was originally an anti-fraud device to deter “clipping.” Crooks would
take silver or gold coins and shave slivers of metal off the edge and return the coin to circulation
at full face value. They would accumulate the slivers of metal and sell them as scrap, profiting
from the difference. The coins would thus weigh less than they were supposed to.
Various terms are used to actually describe the parts of a coin’s design. The raised designs are
called the devices – the eagle, bust, wreath, letters, or other items on the coin.

The amount that the devices are raised is the “relief” of the coin. The lower parts of the coin
(which look like blank space) are called the fields. The obverse of a Franklin half a dollar is
pictured in Figure above. The devices of this coin are white, and the fields are black.

Fields are not usually perfectly flat – they have a curvature to them. This curvature helps direct
the flow of metal during striking and accentuates the relief of the devices. The amount of
curvature is called “basing.” Some coins have a much higher curvature than others – the Mercury
Dime has more base than the Roosevelt dime.

Around the edge of the actual coin, both obverse and reverse is a raised rim. The rim begins as
the upset edge before striking and becomes a flat raised border after striking. Raised rims help
protect the inner designs of the coin from wear or damage during the life of the coin. They are
also important in being able to stack coins – the uniform height around the coin provides a level
stacking surface.

Certain classic coin designs were struck without rims and proved very susceptible to damage.
The rim also serves to frame the design of the coin artistically. In the figure above, you can see
the dentils from a Capped Bust Half dollar at left. These dentils were hand punched into each
die, so there are variations in the dentils' size and shape around the coin. On the right, you can
see the dentils from a Morgan Dollar. These were created by machines and had a much more
regular appearance.

A very important feature of coins is the mintmark. This is a small letter or symbol that identifies
where the coin was struck. In the US, the mintmark is a letter identifying the mint; England,
France, and many other countries use “privy marks” to identify the mint. The mint mark
originated in ancient times when the amount of money a coin was worth was based on its metal
content. If underweight coins were found, or coins with less pure metal, it would be easy to track
which mint was causing the problem.

The mintmark can be on any part of the coin. Most modern coins have the mintmark on the
obverse close to the date, as you can see on the Lincoln Cent in the figure above.
 Chapter 6. Different Kinds of Coins

You have already learned about the different parts of a coin, as well as some of the basic terms
all coin collectors should know. Now it is actually the time for you to dive deeper and learn
about the different kinds of coins (as well as their specificities).

Coins can be categorized according to different criteria (such as the material used for making
them, for example, or the event on which they were created). However, to make it all simpler for
you, we will not go too in-depth into the exact categories, but present you the main types of coins
in general.
 Gold and Silver Coins

Ever since ancient times, most countries have used gold and silver coins as their currency. This
includes Ancient Rome, Ancient Greece, Egypt, and even England and the United States.

Gold and silver coins are not used anymore in everyday transactions, but they are definitely
among the most wanted pieces for collectors. Depending on what gold or silver coin you might
be looking for, the price for such a piece can get quite steep.
 Commemorative Coins

Commemorative coins in the United States started to be popular in the 1930s when law required
the US Mint to strike them. They were sold to distributors who also added a premium on top of
the actual value of the coin. However, this did not last for a long period of time, as collectors
started to complain about speculators manipulating the prices and the market. As such, the US
Mint started to produce fewer commemorative coins.

The first wave of commemorative coins attracted a lot of people into coin collecting, just as they
are today as well. To the date, commemorative coins are considered to be appealing and beautiful
not only for collectors, but even for people who don’t have much to do with coin collecting in
general.
 Revolutionary Coins

In short, revolutionary coins are coins that circulated in times of revolution (such as the
American Revolution of 1776, for example). Because of the historical significance they bear,
these coins can be quite valuable (but this depends on other factors too).
 Ancient Coins

Ancient coins are sometimes considered synonymous to gold or silver coins. However, this
actually might not always be the case, as other materials were used in ancient times for the
manufacturing of coins as well (such as glass, ivory, or porcelain, for example).

Furthermore, another misconception many people have about ancient coins is that they are
extremely expensive. This might be the case in some situations, but you can still own one (or
more) without breaking the bank, as the market value of a coin is not determined by its age only.
 Souvenir Pennies

These coins are quite interesting. Basically, they are normal coins that have been pressed,
elongated, and redesigned. The most interesting fact about them actually, is that mutilating coins
with the purpose of putting them back into circulation again is illegal, with the exception of these
souvenir pennies. Definitely a quirky addition to any collector’s files!
 Medallions

The word “medallion” is frequently used to describe a variety of types of coins (including
commemorative coins). As a general rule, “medallions” are pretty much any type of round,
decorated piece of metal that has some sort of significance attached to it (such as monetary value,
for example). However, most often, actual medallions do not have a legal tender attached to
them.
 Tokens

Trade tokens tend to be quite rare and very collectible. Sometimes, they can be worth as much as
several hundreds of dollars (e.g. Civil War tokens, for example). Most often, these tokens were
created in times of financial trouble when silver and gold were scarce, and yet people still needed
something for their currency.

Tokens were usually valued at $1 or less at their face value, but there are tokens that can go as
high as $5, for example. Just like “normal” circulated coins, they were used in everyday
transactions.
 Error Coins

Basically, these coins were manufactured with an error (such as a double denomination,
overdate, or brokerage). They came out of the mint this way, and some might be tempted to
believe they are not valuable at all. However, depending on the defect and depending on the era
they came from, error coins can be quite pricey as well.
 BU Rolls

BU Rolls are very representative for the new wave of coin collecting enthusiasts at the end of the
actual 1950s and the beginning of the 1960s. These “rolls” were bank-wrapped Brilliant
Uncirculated small stashes of coins that made collectors go crazy in the era. Their 15-minute of
fame started to fade out when collectors realized that, although some of these BU rolls were
advertised as rare, they were, in fact, quite the opposite (as they had been manufactured by the
millions). As such, BU Rolls tend to be shockingly cheap these days, so you might want to avoid
falling into a trap on them.
 Silver Certificates

Old Silver Certificates were used by people to redeem one silver dollar. However, these
certificates were only valid up to 1964 when the government discontinued their manufacturing.
For a while though, people were allowed to redeem their silver certificates for a given amount of
silver - which eventually turned into a whole new craze in the coin collecting world as everyone
was “suddenly” looking for these.

Clearly, just like other fads, this trend attracted a lot of people towards the coin collecting world.
 Art Bars

Somewhat an oddity, art bars were very popular in the 1970s. They were thin, rectangular silver
bars weighing one ounce and they had polished surfaces and designs meant to commemorate
pretty much everything you can imagine: from your wedding to your cat.

At first, mintages were limited, so art bars were very sought after. However, the market was
flooded by a lot of these art bars and eventually people got bored of it. Like the other types of
coins presented in our list which led to a new trend, art bars attracted a lot of collectors to the
world of coins as well.

There’s no actual right or wrong type of coin to collect. Sure, some have more value today while
others don’t, but at the end of the day the value does not always only lie in the type of coin, as
much as it lies in a variety of factors.
 Chapter 7. Coin Collecting Strategies for Beginners

Many individuals start the coin collection after discovering an appealing coin in their money,
inheriting a group, or getting a few coins via other methods. Others believe they have found a
rare precious coin and hope to make a fast buck. Irrespective of where you begin, here are some
pointers to help you have a successful and extended coin collecting experience.
 Begin Small and Simple

Unless you're a multimillionaire who doesn't mind making a thousand-dollar error, you would
like to ease into the pastime and gain experience before making any large purchases. Begin with
modest coin purchases & easy-to-assemble coin sets. Read about the coins, their origin, how to
analyze them, and how to price them.

Many notable coin collectors began by amassing a collection of Lincoln pennies. They're still in
existence, and most may be obtained at a nearby coin show, coin store, or online for a reasonable
price. If you have a little more money, you could choose to start with a set of "Indian Head
pennies" or a basic set of U.S coins.
 Gather Whatever You Like

"So what can I actually collect?" many individual wonders. "Grab whatever you will like!" is the
quick answer. Choose an actual coin or a set of coins that you are actually interested in. It might
be actually an innovative design on the coin, its history, or a tale connected to the coin. To
actually trace the origins of a coin or its roots, use the Internet. If you buy coins on the Internet,
though, be cautious. They might be costly or fake.

The "Lincoln penny" has a long history, and some of the coins have fascinating backstories.
Some teenage collectors specialize in world coins with a recurring theme, like queens, fish,
architecture, flowers, etc. The options are unlimited, and it may be as exciting as you want it to
be. Nevertheless, if the coin tickles your curiosity, you'll be more inclined to study more about it,
and that knowledge will save you from pricy errors along the way.

Finally, be cautious not to make the mistake of attempting to "make a fast buck" when you begin
the coin collecting quest. You will come across folks and dishonest coin sellers who will try to
sell you the coins at bargain-basement costs. Stick to what you enjoy collecting and get your
coins from a reputable vendor.
 Handle Coins with Care and Keep Them in a Secure Location

Although coins are comprised of metal, and we often think of metal as quite durable, the face of
a coin is compassionate and readily damaged. Various metals will respond differently to the
environment they are in.

Proper coin handling practices and storage can ensure that the value of your coins is preserved
for future generations. Wear latex or cotton gloves while handling your coins. If none of these
are accessible, hold the coin just by its edge. Above all, don't ever wash a coin. It will be evident
to coin dealers that the coin has been wiped

and classified as 'damaged. This will significantly lower its value, if not eliminate it.
 It Isn’t a Competition

It's not a race to amass a good coin collection that will value over time. Most coin collectors who
rush through their acquisitions get irritated fast and lose money whenever it goes up for sale.
Bide your time and study about the coins you want to buy before you buy them.

When done correctly, coin collecting may be a lifelong passion. Also, don't buy the first coin you
come across. Wait for the cash which has the quality you're looking for and is being sold at a
price you're ready to pay.
 Purchase The Book

The Internet is actually a fantastic source of knowledge, but it can also be a source of deception.
Buy a book before buying a coin, according to an ancient proverb. Individuals who've already
sold their coin compilations for hundreds and thousands, though not tens of billions, adopted
these essential criteria and spent time learning about the pieces they were gathering. The Guide
Resource of U. S. Coins, popularly known as "the Red Book," is excellent for novice and
experienced collectors.
 Websites and Magazines

Numismatic News and coin world are two prominent coin collecting periodicals. Websites
dedicated to coins may be a valuable source of knowledge, but be wary of those who are just
attempting to sell you expensive coins.
 Participate in a Coin Club

Many coins are available for purchase on the Internet. Regrettably, this means you won't be able
to handle, check, or compare the currencies you're going to buy. Before purchasing it, you may
inspect the coin in person by going to a coin exhibition or a local coin store. A reputable coin
dealer may also provide helpful information to assist you with purchasing. Some coin exhibitions
also provide mini-seminars to assist novice collectors in honing their expertise.
 Make a Strategy

Do some study into how much cash it will cost to put together a coin collection once you begin.
If there are standout coins, it doesn't imply you should not start collecting them. You may have
to wait or save until you have sufficient discretionary cash to purchase the more costly coins.

Create a spreadsheet to actually keep track of the coins you'll need to finish the collection. List
the anticipated cost of every coin as well as the grade you want to buy. Tick the coins off your
table as you buy them to avoid purchasing duplicates.
 Chapter 8. Coin Grading

The fundamental goal of coin grading is to assess the coin's market worth. The worth of a coin is
determined by how skillfully the coin was struck initially, the coin's degree of preservation, and
the amount of wear and damage it has received. For most practical reasons, especially for
beginners, we'll focus on how to assess the degree of wear on the coin and where it falls on the
70-point scale.

Keep in mind that coin grading is not a precise science. Most coin dealers and numismatists
would actually agree with this assessment based on a conventional definition. When tiny
elements in a coin's appearance have a favorable impact, it may push it to a higher grade. On the
contrary, the distinction might be a slight flaw that pushes it into a lesser grade. The size and
location of the actual flaw and its influence on look are factors that may cause one individual to
score the coin higher and another to grade the coin lower.

Examine coins that have been evaluated by a reputable coin dealer and try to figure out why they
were graded that way. If you don't understand why a coin acquired a certain grade, ask the dealer
to explain it to you. Coin dealers are eager to share their knowledge and help become a well-
educated coin collector. However, look for a reputable coin dealer among experienced coin
collectors. To sell their coins at a greater price, some coin merchants over-grade them. When you
go to actually sell that coin, honest coin dealers will grade it correctly, and you will not actually
be able to recoup the money you spent on it initially.
 The 70-Point Coin Grading Scale

When they grade them, numismatists assign coins a numerical value on the Sheldon Scale. The
Sheldon Scale has grades ranging from Poor (P-1) to Perfect Mint State (MS-70). Originally,
coins were evaluated by employing adjectives to indicate their state (Good, Fair, Excellent, Etc.).
Unfortunately, coin collectors and dealers had varying interpretations of what each of these terms
represent. In the 1970s, professional numismatists came together and established Coin Grading
standards. These numismatists now issue grades at critical places on this seventy-point scale,
with the most widely utilized numeric points being used in conjunction with the original
adjective grade.

The most common coin grades are actually as follows:

(P-1) Poor - Identifiable and perhaps damaged; if used, must have a date and mintmark;
otherwise, very trashed (F-12) Fine - The item is quite worn, yet the wear is even, and the
overall design aspects show out forcefully. Rims are almost completely isolated from the
field.

(AU-50) About Uncirculated - Slight signs of wear on the coin's design's high points; may
have contact marks, and eye appeal should be adequate.

(FR-2) Fair - Worn virtually smooth, but without the damage that a coin classified Poor
typically possesses. Enough information must be retained to identify the coin.

(G-4) Good - Heavily worn, with lettering blending into the rims in parts and significant
elements mostly erased.

(VG-8) Very Good- All key design details are visible, albeit faintly, despite being quite
worn. There would be little if any, core detail left.

(AU-58) Very Choice About Uncirculated - Slight wear blemishes, no substantial contact
marks, nearly full mint shine, and good eye appeal.

(VF-20) Very Fine - Moderately weathered, with some finer features still present. All
letters of the word LIBERTY and the motto are legible. Both sides of the coin have entire
rims that are separated from the field.

(EF-40) Extremely Fine - All devices are clear, and significant devices are bold; little
worn. Finer detail is bright and visible but may show signs of minor wear.

(MS-63) Mint State Acceptable - Uncirculated, but with actual contact scratches and
nicks, a somewhat diminished shine, and an overall pleasing aspect. The strike is of
ordinary to poor quality.

(MS-65) Mint State Choice - Uncirculated with a brilliant mint sheen, little contact
marks, and great eye appeal. The strike rate is higher than usual.

(MS-68) Mint State Premium Quality - Uncirculated with superb shine, no obvious
contact marks to the naked eye, and outstanding eye appeal. The strike is both sharp and
appealing.

(MS-69) Mint State Almost Perfect - Uncirculated, with superb brilliance, a crisp and
appealing strike, and extremely good eye appeal. Except for minor defects in the
planchet, striking, or contact markings (seen only at 8x magnification), this coin is
flawless.

(MS-70) Mint State Perfect - The ideal coin. Under 8x magnification, there are no tiny
imperfections discernible; the strike is crisp, and the coin is precisely centered on a
beautiful planchet. Bright and full, with original brilliance and eye appeal is rarely seen
on a coin.
 The Three Coin-Grading Buckets

From a newbie's perspective, the most misunderstood part of coin grading is how the grading
scale works. Consider it as having three "buckets”. The first bucket contains circulating coins,
the second contains approximately uncirculated (AU) coins, and the third contains uncirculated
(Mint State, or MS) coins. Circulated coins have the broadest grade scale. These ratings range
from P-1 to EF-49. P-run, or poor, is the lowest possible grade for a coin. Even though it has
considerable wear and much of the detail has been worn away, this coin is scarcely identifiable.
At the top end of the actual scale, this would be a circulating coin with minor wear on the coin's
highest points. This stops it from falling into the About Uncirculated category. Similarly, the AU
section of the scale begins at 50 and continues to 59.

The AU-50 coin may never have circulated in commerce, but it is no longer in Mint State since it
bears scuff marks, has been through many coin-counting machines, and has been handled a tiny
amount. So, we put it in the actual AU bucket and assign it an AU-50 if it's ugly and an AU-58 if
it's not. This is an oversimplification, but it explains why the grading scale appears to travel from
"appealing coins" to "ugly coins" and back to "appealing coins."

The MS scale (from MS-60 to MS-70) is not just a continuation of the preceding AU coin
system. It is a completely different mini-scale of 11 grades, beginning with the "base condition"
MS-60 Uncirculated coin. This is a drab, bag-marked dog, yet it is officially Uncirculated. In
comparison, the AU-58 coin behind it has a pleasing appearance and virtually full brilliance. A
coin that has an AU-58 grade appears far superior to a coin that receives an MS-60 rating.
Furthermore, they are in different "buckets" of the grading scale.
 How to Grade Circulated Coins

The third bucket contains circulated grades ranging from P-1 to EF-49 (though EF-45 is the most
likely circulated grade you'll see being utilized). Most novices seeking grading assistance have
circulating coins, which are thankfully the easiest for the novice to grade. It's helpful to have a
Mint State (a.k.a. uncirculated) specimen of the coin type in question to compare it to, but it's not
required.

Step 1

To begin, you'll need a good light source, such as a 100-watt bulb in a lamp near where you're
seated. Second, you'll need a good magnification, preferably one that magnifies 5 to 8 times
(expressed as 5x to 8x). Anything more than 8x is rarely used in coin grading, while anything
less than 5x is too weak to notice essential features and minor damage signs.

Step 2

Decide which "bucket" your currency belongs in. Is it uncirculated (in mint condition)? Is there
simply minor wear on the high points (about Uncirculated)? Or does it come into the most
typical category, Circulated coin?

Step 3

To identify where your coin falls on the scale, compare it to the one illustrated above. Remember
that the figures are not proportionate; in other words, the actual amount of detail loss between
EF-40 and EF-20 is not the same as the amount of detail loss between MS-60 and EF-40
(remember, they're in separate buckets). In actuality, the coin graded EF-40 has lost only
approximately 5% to 10% of its detail, but the coin graded F-20 has lost nearly 60%. Use the
stated descriptions to put your coin as accurately as possible. If you want more accurate grading,
I recommend "The Official ANA Grading Standards," which breaks down the grades for each
major U.S. university. Coin kind, as well as photographs to assist you in determining the suitable
grade. You'll be able to assess the worth of your coins now that you know their grade.
 Chapter 9. Numismatic Language

Coin collectors speak a unique language and use specific terms when discussing coin collecting
like any other community or social group. Do you want to spend time with other numismatists
and have no idea what they say when talking about this fascinating subject? To make matters
worse, approaching a coin dealer and insisting on explaining every term isn't a pleasant
experience. If you don't speak the language, you're at risk of being taken advantage of because
it's easy to be fooled if you don't know your way around coins.

Numismatics is generally defined as the systematic acquisition and study of coins. As a result,
coin collecting has become a subset of numismatics. Numismatics encompasses a wide range of
money-related items, including coins, tokens, currency, checks, medals, stock certificates, and
other items that represent current and past financial assets or liabilities. Numismatists include
those who study the field of numismatics and coin collectors.

Although no one will actually ever tell you this, picking up the lingo is the best way to blend in
and get the hang of any new practice. "Language even more than color defines who you are to
people," wrote Trevor Noah in his book 'Born a crime' He was able to get by with the help of
language during a time when people of his skin tone were subjected to racial profiling. The
ability to speak the language of a specific social group gives you a significant advantage in the
workplace. As a result, you'll need to brush up on your knowledge of coin collecting jargon.
You'll be able to converse with dealers, fellow numismatists, and other coin collectors more
easily. Numismatic terms and their definitions are listed below.
 Terms Related to the Condition of a Coin

About Good (A.G.): It's not great, but it's also not terrible to say that a coin is "about good"
because the grade of the coins is just below good. Only the most important characteristics are
likely to be discernible on an A.G. coin.

Features like the mintmark, the date, and so forth are included. Some other features like portraits
may also have faded away.

Abrasions: If someone says, "This coin has abrasions," or in other words, the coin has been
abraded by another coin, a foreign object, or some substance (like acid).

Alternate surfaces: A coin with an altered surface is referred to, that its value has been
diminished due to factors such as cleaning or polishing, making it unattractive to collectors.

Uncirculated: A coin is considered "uncirculated" if it hasn't been used in a day-to-day

transaction.

Almost uncirculated: This coin appears to be brand new to the naked eye or at first glance as if it
has never been circulated. A magnifying glass can reveal minor friction or rubs if examined
closely.

No Grade: A coin that returns from a third-party grading service and is not encapsulated is
referred to as having "no grade." Authenticity or damage could be to blame.

Artificial Toning: To add color by using chemicals or heat on the coin's surface is a form of
artificial toning.

Bag Toning: A coin can acquire some color when stored in a cloth bag containing sulfur and
other metal-reactive chemicals, such as those found in sulphuric acid. Morgan silver dollars tend
to develop bag toning.

Brown: The term "brown" refers to a copper coin that has lost its red color due to various factors.
The word "brown" can be abbreviated as B.N. when describing a coin in grading.

Alteration refers to a coin with its mintmark or date altered to make it appear to be a rare or
valuable issue.

A Carbon Spot: Discoloration on the surface of a coin is known as a "carbon spot." A planchet
imperfection before the coin’s striking and improper storage is possible causes. Carbon spots are
nearly impossible to remove without leaving pits on the surface, no matter the reason. Carbon
spots diminish the value and quality of a coin.

Basal State: A coin is said to be in this state if it's in a condition consistent with its basic form,
which means that it can only be identified by the mintmark, date, and type of the coin. One-year
coins may not have a visible date on them.

A Cleaned Coin: When cleaned with mild abrasives, it can be restored to its original condition. It
will likely lose its natural color and luster and appear washed out if treated with baking soda. A
coin that has been "cleaned" is referred to as such.

Questionable Toning: The term refers to the suspicion that a coin's color is artificial, not natural.

Raw: Ungraded coins are known as "raw" in this context.

Semi-Commons: Coins classified as semi-common fall in the middle of the rarity and
commonness spectrum.

Ultra-Rare: Coins or numismatic artifacts that are extremely rare are included in this category.
Only a few examples/pieces of evidence are needed.
 Term Used to Describe Characteristics

Bust: In a coin's bust design, the head, neck, and upper shoulders are all included.

Denomination: The face value of each coin is referred to as "denomination." When you inquire
about a coin's "denomination," you're referring to its actual weight.

Face values: A coin's "face value" refers to its legal issue. One pound, one dollar, or fifty pence
is the unit of measure.

Coin attributes: the parts of a coin that make up its design, grade, luster, strike, and marks; these
are the primary characteristics and the ability to catch the eye.

Mintmark: Coins are identified by the mintmark, a small letter that appears on the coin's surface
or the place where it was struck, the mint.

Relief: An area of a coin's design, known as a relief, is raised above the rest of the coin's surface.

The Incuse: This refers to the coin's legal issue. So, for example, is one dollar, one pound, or 50
pence.

Legal Tender: a form of money recognized by the government: A type of currency issued and
exchanged for financial transactions.

Bi-metallic: This coin is bi-metallic, which means it is made of two different metals at once.

Circulation: It means how much a coin has worth in the real world. Coins that have been used in
transactions are also referred to as "spent coins."

Bullion Coins: This is a one-of-a-kind coin made of a precious metal such as gold. This is an
extremely valuable coin.

Arrows: On most U.S. coins, you'll see this design element in the left claw of the eagle.

Observe: Known as "heads," a front side of a coin

Reverse: Known as "tails," a backside of a coin.

Terms related to Mint Place:

C: This mint mark identifies where a coin was struck at the Charlotte, NC mint.

CC: A mintmark refers to a coin struck at the Carson City, Nevada branch.
S-mint: San Francisco mint coins are referred to as S-minted coins.

Classic Era: Coins from the classic era were produced between 1792 and 1964, during which
time silver and gold coins were in circulation of the United States were made available for public
use; they were meant to be spent in commerce. The 'classic era' refers to this time.

Lister: When discussing coins, the term "luster" refers to the coin's ability to reflect light. It's a
tool for grading coins. However, luster should be used with caution when grading a coin because
it can be difficult to tell if it is artificial or natural, depending on how it was made. The luster of a
surface can be reduced by cleaning, wear, and friction.
 Terms of Denominations

Penny: Another name for a one-cent coin in the United States is a "penny."

Nickel: Five-cent U.S. coins are commonly referred to as nickels.

Dime: A dime is one-tenth of a U.S. dollar (10 cents).

Some Other Terms:

Pedigree: The most valuable coins, such as rare bullion coins, have a higher pedigree. A coin's
pedigree is a list of the current owner's information and every one of its predecessors.

Set: When you have a collection of something, you can say you have a set from a specific batch
of coins. As an illustration, think of an actual group of half-dollars from a particular mint.
 Chapter 10. What are Mints and Mint Marks

Mint Marks are small letters describing the locality where the coin minting happened. The
mintmark position could be discovered normally on the rear of coins that were minted prior to
1965 with the exception of the cents and at the front after 1967.

Coins of each US mint branch are acknowledged by mint marks. These marks go way back to
times of Greece and Rome. The Mint Director through "Act of March 3, 1835", established
guidelines to categorize and differentiate the coins released from each "United States Mint
branch." This core management made precise patterns and standards of production along with
accountable coinage.

Coins that reached the "Philadelphia mint" much before 1979 don't have mint marks. So that was
the year in which the dollar was marked using the letter P and other denominations had that
identical mark afterward.

All Dies for United States coins are created at the "Philadelphia Mint," and before delivering the
coins to their mint branch, coins are marked initially with the appropriate and appropriate mint
markings. The exact positioning and size of the mint mark could differ a little; this is affected by
the depth and location of mint impression.
 The Significance of Mint Marks

Collectors can figure out the worth of a coin via mintmark, condition and date evaluation, where
the coin's condition is the most considerable aspect and requirement to determine its worth.

On the other hand, specifying the Mint, which struck the coin, is enormously essential too. To
determine the worth of the coin, the coin could be struck in substantial amounts at a single Mint
and minute amounts in another hit.
The Procedure of Minting

1. The metal strip creation in the proper density. Zinc strips are utilized for cents, alloy
strips made up of nickel (25%), and nickel (75%) for nickel and dollars, dimes, half-
dollars, half-dimes are produced from a combination of 3 coatings of metals. The external
layer is composed of alloys, and the middle is made of copper.

2. These metal strips are then placed into "blanking presses" that handle the cutting of
"round blanks," roughly to the dimension of the "completed" coin.

3. The blanks are then run through an annealing furnace in order to soften them, via barrels
toppling and finally via revolving cylinders, including chemical mixes to clean up and
burnish the metal.

4. The blanks then are, after that, cleaned and put into a drying device, and then put in the
"upsetting" machines which generate raised rim.

5. The last stage: "coining press." Every blank is clasp in place by a ring or collar as it is
being hit or struck using a lot pressure. Cents require 40 tons of pressure, and a lot larger
coins require more. The "Upper and lower dies" are marked all at once on the two coin
sides.
 The Style

The "Director of the Mint" selects the pattern and design for US coins that are then authorized by
the "Secretary of the Treasury"; congress could suggest and suggest a style. The style then can
not be altered until each 25 years of gap or unless that is decided by the congress.

All symbols of US coins minted presently show former US presidents. President Lincoln at the
one-cent coin embraced in 1909; Washington at the 25 cent coin which was minted initially in
1932; Jefferson at the 5 cent coin in 1938; Franklin Roosevelt on the dime, presented in 1946;
Kennedy half-dollar which initially emerged in 1964.

The "Act of 1997," referred to as the "50 States Quarters Program," supports the quarter
redesigns, where the reverse side is to show every one of the fifty states symbols.

The expression "In God We Trust" was initially utilized on a US two-cent coin in 1864. It then
was located on the nickel, quarter, silver dollar, half-dollar and on $10, $20, and $5 in 1866; in
"1909 on the cent", in "1916 on the dime". Nowadays, all US coins hold the slogan.
 Chapter 11. Preserve and Protect the Collection

A cardinal rule for all coin collectors is to avoid causing wear or introducing any substances that
may cause spots or color changes.

Try to avoid any direct manual contact with your coins. This means not using your bare hands to
handle the coins. Fingerprints are collectible coin's sworn enemies. It is also imperative to
actually make sure that you do not let one coin touch another coin because it can result in nicks
and scratches. To avoid ruining them, remove coins from their storage containers only when
needed and necessary.

Uncirculated or Proof coins should not be handled anywhere but the edge, as even a slight
fingerprint may reduce its grade and, thus, its value. Proof coins are those struck two or more
times with polished dyes on an equally polished planchet; they are legal tender like any regular
coins.
Uncirculated mint sets are coins packaged by the US government for sale to coin collectors. It is
best if you make it a habit to pick up collectible coins by their edges while wearing clean white
cotton or surgical gloves. A face mask is also preferable to prevent small particles of moisture
that may cause unwanted spots. Never sneeze or cough near coins because this can leave marks
and ruin the coin.
 Mint Coins

Coin holders provide enough protection for ordinary handling. If you must take the coin out and
need to put it down outside the holder, make sure you place it on a clean and soft surface,
preferably a velvet pad.

It is an ideal surface and a must-have for handling valuable numismatic materials.

For coins with lesser value, clean, soft cloth may be used. Avoid dragging coins on any surface
to avoid scratches. Take note that even wiping with a soft cloth can cause scratches that will
reduce its value.

Coin Care and Cleaning

While it is good to maintain cleanliness in the surroundings, it is best not to clean the coins. A
shiny coin may look nice, but maintaining its original appearance is essential for a collectible
coin.

Cleaning the coin can reduce its numismatic value significantly. There are only a very restricted
number of things you can do to improve a coin's appearance. You might harm it instead of
enhancing it.

Unnecessary cleaning affects the value and cost of collectible coins. The patina on a coin is built
up over the years and is part of its total essence and history and reflects a value much more than
its face value. Remove it, and you can lessen its value by as much as 90%! Collectors value coins
with attractive patinas, which, in effect, protect the coin's surface.

Like any work of art restoration, cleaning coins must be done by professionals. They know what
techniques to employ that will work best and still have the coin as valuable as ever.

If you think that a tarnished coin you have just discovered needs to be cleaned, STOP! It is not a
good idea. It is better to leave the coin alone. The color change you observe is a natural process
called toning. And if allowed to progress by itself naturally and produce attractive results, it
sometimes adds to the coin's value.

Toning is caused by the atoms' chemical reactions on the coin's surface, usually with sulfur
compounds. It cannot be reversed, but "dips" in which strip molecules from the coin's surface are
available. Bear in mind, however, that professionals should only do this.

You need to observe several rules when considering cleaning the coins you have obtained, found,
bought, or inherited.
1. Never clean a coin that you do not know the numismatic value. If you doubt if it's
valuable or not, then don't clean it either. It is best to leave coins the way you found them,
untouched. Erring on the conservative side is preferable to ruining the coin for nothing.
Store them in holders made for the purpose. Coin collectors and dealers prefer coins in
their original condition, so do not attempt to alter their state. Cleaning will probably
ensure more harm than good.

2. Because you are not supposed to clean the coins yourself, you need to take the coins to a
professional coin cleaning service. They use a technique called "dipping" that will
properly clean the coins without reducing their value. This is important, especially if the
coin's date and details cannot be determined because of corrosion. A professional will
know how to avoid or minimize further damage to the coin.

3. In the situation that you must clean the coin, you have found, then do it with the least
harmful method. Do not use harsh chemicals, sulfuric acid, polishing cloth, vinegar,
abrasive pastes, or devices that give a smooth and shiny result on the coin. Experiment
first with lesser value coins before coins with high value.

4. Cleaning is a big issue in coin collecting, so you have to disclose this fact to a buyer if
you are selling a coin that you know has been cleaned.
 Soaking Coin

Cleaning Different Types of Coins

Uncirculated coins – should never be cleaned at all because cleaning will ruin any mint
luster.

Gold Coins – should be cleansed cautiously in neat, lukewarm bubbly purified liquid
consuming a cottony fiber wash-down fabric or an incredibly easy tooth scrub. Gold is
smooth metal, so you should take extra care to avoid disfiguring or scratching.

Silver Coins – valuable silver coins should not be cleaned at all. The blue-green or violet
oil-like tarnish, dirt, minerals, or other residues some silver coins have enhances their
appearance and should be left alone. Dark silver coins must be cleaned with ammonia,
rubbing alcohol, vinegar, or polish remover with acetone. Do not rub or polish them.

Copper Coins – if necessary to clean them, soak them in grape oil. If not available, olive
oil will do. Never attempt to rub them in any way. However, getting results may take
several weeks to a year, so be patient.

Nickel Coins – best cleaned with warm, soapy distilled water using a soft toothbrush. If
cleaning badly stained nickel coins, use ammonia diluted 3 to 1 with distilled water.
 How to Store Your Coins

You need to actually store your coins properly to avoid giving them any scratch to reduce their
numismatic value. You need to use the proper type of holder, depending on the value of the coin
you are storing.

There are folders and albums available commercially that you can purchase for storing your
series or type collection. When using paper envelopes, make sure that their materials are
especially suited for holding coins, especially the high-value ones, since sulfur or other
chemicals present in the paper can cause a reaction and change the coin's color.

Plastic flips made of mylar and acetate are good materials for long-term storage, but since they
are hard and brittle, they may scratch the coin if they are not inserted and removed carefully.
"Soft" flips used to be created after polyvinyl chloride (PVC), which decayed after some time
and imparted grievous ends aimed at the coinages. PVC gave an emerald look on the pennies.
PVC reverses are certainly no longer manufactured and marketed in the US.

Tubes can hold several same size coins and are seemingly for the majority space of distributed
coinages and higher-grade coins if they are not moved. For more valuable coins, use hard plastic
holders as they do not contain harmful materials and can protect coins against scratches and
other physical damage.
 Collectible Coins in Their Cases

For more valuable coins, you can opt to use slabs as they offer good protection. Slabs are
hermetically sealed hard plastic holders for individual coins. However, one drawback is the
expense involved, and you will not be able to get at the coin easily if there is a need to do so.

For long-term storage, a dry environment without significant temperature fluctuation and low
humidity is important. You need to minimize exposure to moist air, as this will cause oxidation.
It may not reduce the coin's value, but reducing oxidation will help the coin look more attractive.
To control atmospheric moisture, you need to place silica gel packets in the coin storage area.

You still need to check on your collection periodically, even if you store them in a safety deposit
box. If not stored properly, problems could develop, and you can do something about it before
any serious damage occurs.
 Protecting Your Collection from Loss by Fire or Theft

There will always be the threat of loss by fire or theft to any of your properties. However, just as
you would protect your house or car from them, there are some precautions you can take to
minimize them. Bear in mind that most homeowner insurance excludes coins and other items of
numismatic value from coverage. You can usually get a rider, however, but for an additional
premium payment.

You can also obtain a separate policy. Consider joining the American Numismatic Association
(ANA) that offers insurance for their members' coin collections. Be sure that you have a catalog
of your collection stored separately from the coins. Note where you have obtained each coin, the
coin's condition, and the price you paid for it.

Taking individual close-up pictures of each coin is also a good idea. Get an appraisal from a
professional who uses a Blue Book or Red Book for this purpose. The insurance company will
need the documents of the appraisal.

Safes protect against theft, fire, dust, water, or other environmental factors that could damage
your possessions. For your coins, they offer relative protection. Some safes provide adequate
protection from fire but are not suitable for theft protection.

Some safes do deter thieves but are not fireproof. Your collection can be damaged or destroyed
by fire even if the flames do not touch your coins. The heat may be extreme enough to melt
them.

Another concern when storing your coins in a safe is the level of humidity. A high level will
cause oxidation, which is bad for the coins. The ideal level is 30% relative humidity (RH). The
RH inside the safe is dependent on the ambient RH where the safe is located. Most modern safes,
fortunately, are adequately insulated and are constructed with good seals. Silica gel packets can
help reduce humidity.

So, if you opt to keep your collection at home, see that you get a home safe that provides enough
fire and humidity protection and protection against theft. Make sure you take measures to
prevent or dissuade a burglar from invading your home. Adequate lighting and secure, strong
locks are recommended. You can ask law enforcement officers for more valuable tips.

One way of protecting your investment against theft is to be discrete about being a coin collector.
The information you divulge about yourself to many people may eventually reach the wrong
person. Having all numismatic-related promotional materials sent to a post office box instead of
your home may help.
 Chapter 12. Document Your Collection

You have a catalog of your coins, including the date of purchase, the purchase amount, and
whom the coin was purchased from, right?

Wait! Do you say you don't have a catalog of your coins?

 Why Catalog My Coins?

Many coin collectors I know seem compelled to catalog their coin collections. Others simply
stuff the coins in a bag, box, or old mason jar and forget about them. Having a record is an
important part of the coin collecting hobby and is required by the IRS for records that record the
purchase and sale of your coins for tax purposes.

In some cases, if there are actually no records, the IRS assumes anything over the coin's face
value is profit and therefore taxable. Not a pretty picture if you have built a substantial collection
but haven't kept minimal records!

Another reason for having a catalog of your coins is to help the heirs of your estate should
something happen to you. If they have no records of a coin, how will they be properly equipped
to liquidate the collection? If they don't want to keep the collection themselves, a well-kept
catalog of your coin collection will be able to keep them on the right track and not get taken
when it comes time to dispose of the coins.
 Ways to Catalog Coins

There are several different methods used by coin collectors I know to keep track of their coin
collection. Some record all the information on standard 3x5 cards stuck in a shoebox. Others use
coin collecting software with sophisticated databases.

There is no one best way to catalog your coin collection. They are, after all, your coins, and you
should use a method that you find comfortable to use. It should also be a method that you will
use consistently and regularly.

What you keep track of is important too. Here's the shortlist I use for all of my collections:

Country of Origin

Year of Mint

Denomination

Grade

Date of Purchase

Purchase Price

Date Sold

Sale Price

If you regularly buy and sell rolls, you may want to have a column for "Quantity.” Another
possibility is if you're buying variety or error coins, you'll want to have a column to include that
information.

You could simply use a notebook and with a pen and straight edge to create the columns needed.
Since most of us own a computer, you likely own spreadsheet software like Microsoft Excel or
possibly OpenOffice.

Either of these programs makes it simple to create a comprehensive means of tracking your coin
collection, including calculating the value of individual coins.
 Coin Collecting Software

The option I've chosen to use is coin collecting software with an integrated database to track my
coins and keep their values up to date. There are several different software packages available.
Some are free, most reasonably priced, and others a bit more expensive. As in all things, you get
what you pay for. You could even build your database using Microsoft Access which is included
in premium versions of Microsoft Office.

Coin collecting software should be:

Easy to use

Intuitive

Easy to Organize Your Collections

Ability to Retrieve Current Pricing

Automatically Updates Your Coin Values

Coin collecting software can save time and ease the burden of cataloging your coin collection. Is
it necessary for everyone? You’re the only one who can actually answer that. Keeping track of
your coins in a simple spreadsheet may be your best solution. One of the things you now know?
You do need to be cataloging your coin collection.
Chapter 13. Finding Fake Coins
 How to Discover Fake Coins

A special device does the coin stamping to make them real. Individuals who counterfeit coins are
well trained and have the capability to manipulate those uncommon coins, which have high
worth amongst collectors. The most typical process in counterfeiting is putting fluid metal into
molds which are going to leave die marks with breaking on the fake coin.

Those who are professionals in identifying fake coins have actually observed that the
modifications seen in the coins have actually added, eliminated, and even changed the coin's date
markings. If an individual believes that he remains in the ownership of a fake collectible coin, he
can attempt to get his other collections, that are supposed to be authentic and have the identical
worth. He could then contrast the two coins to see wheter there are any markings on the fake one.

If the coin's worth is actually more than 5 cents, search for corrugations in the external the coin
edges. These are really thin railings on the the coins edges. They additionally call this "reeding."
Authentic coins have extremely thin edges, and they are uniformly distinct if one is really
watchful. Those coins which are fake could be differentiated if the edges are not sufficiently thin.

Should there be circumstances in which an individual has actually received a fake coin, he must
not return the fake coin to the individual that sent it to him. He needs to attempt to delay the
individual in any circumstance. If the individual runs, he needs to attempt to keep him in sight.
He ought to remember the individual's clothing and physical look and attempt to remember if the
individual has any buddy throughout the exchange. If they have a vehicle, get the vehicle's plate
number and call the nearby authorities for assistance right away.

There are numerous things which could be taken into consideration when recognizing whether
the coin is fake or not:

1. A coin restrike could be used to recognize verified coins. These coins are really dated
earlier than those initially released by the nation that launched them with the identical or
specific features such as those coins which are original.

2. Coins of a particular nation in ancient times are, in some cases, copied by another nation.
An individual might believe that it is a forgery, however, it is not due to the fact that they
would have been lawfully authorized in the nation where they came from.

3. Forgery could be related to a profit. It may be the primary goal of the counterfeiting
syndicate. The federal government often utilizes forgery for a certain political
propaganda, such as in the Second World War. The Germans created countless British
 and American banknotes for the intent of making money from them and destabilizing the
opponent's financial circumstance.

4. Another recognized kind of fake coins are the replica coins. Replica merely suggests that
the initial coins are copied with identical functions and markings. Nevertheless, the
typical fake coins have their distinctions that can be found by professionals. Some
deliberately place the word "copy" on the sides of the coins. The majority of these
replicas are utilized for academic functions and museum displays.

5. The Lebanese connection is stated to have a big creation of fake coins. These coins were
discovered to be utilized to trick lots of museums, business leaders, collectors and other
nations which are looking for their ancient lost coins.

6. The circulated intended forgery and the collector intended forgery are kinds of forgeries
where the coin worth is token intended, and the face values are accepted, despite their
illegality and intrusive, unimportant values.

It is essential to see a professional to identify if the coin is fake. A common individual could
quickly find the incorrect metal utilized for counterfeiting. If the individual is a collector of such
products, he ought to be more familiar with these coins. A collector has to be more worried about
the uncommon collectible coins due to the fact that this is where counterfeiters gain. They go for
the really valuable market where they could make money.
 Chapter 14. Making Money with Coins

Before we dive into the best techniques to sell your coins and make a profit for them, it’s
essential that you understand what makes a coin valuable coin what are the characteristics that
you should consider. Let’s start!
 What Makes Coins Valuable?

To make money with coins the most important thing that you need to understand is that it’s a
“buy and hold” type of investment. This means that you first buy a coin at the lowest possible
price and you then sell it later for a higher price. The difference is your profit (if you decide to
sell online you will also need to consider a commission taken by the platform).

Consequently, you need to apply the first rule of marketing which consists of finding a market.
In other words, you want to buy a coin today that you will be able to sell tomorrow. For this, you
need a demand or if you prefer a general and consistent interest towards that specific coin.
Spotting a coin that is on high demand can be very tricky but the two key things that you need to
analyze are the following:

The main characteristics of a coin (so, what a collector would generally look after)

The main types of collectors (which might show different ranges of interest in different
types of coins)

Once all this is cleared up, we will proceed with the main features that make coins generally
valuable.
 Coin Characteristics to Consider

Depending on the kind of coin collector you are, you might want to look after one or more of the
following coin characteristics when considering whether or not to buy them:

Denomination. Every currency puts out different denominations (such as the penny, the
nickel, the dime, and the quarter, for example). If you want to actually go big, you could
start collecting denominations that are obsolete as well (such as the 20-cent coin, for
example).

Type. This does not necessarily refer to the type of coins, but to the designs available for
each denomination. For instance, a half dollar could be a Flowing Hair, a Franklin head, a
Seated Liberty, a Walking Liberty, and so on.

Date. Some people collect coins by the date they were issued, and that is perfectly fine.
For instance, you might want to collect all types of nickels that were issued from 1900 to
the current date (and you can also choose to skip the very rare and expensive ones if that
is what you want).

Date and mintmark combination. You might also want to collect coins according to the
date and mintmark. Do keep in mind that this can be more expensive than just collecting
them according to their date, because most coin series have a particular mintmark that is
very pricey. This is not true for all types of coins (in the sense described in the second
bullet point in this list). For instance, collecting all the Barber dimes might get
prohibitively expensive (as the rare ones can cost as much as $1,000,000). However,
collecting all the Barber half-dollar coins might be affordable.

Year. This type of collection includes all the coins issued on the year of your birth. If you
are under 50 years old, doing this will be quite easy as you can just buy Mint sets.
However, you might also want to set a different challenge (such as collecting all coins
released in another year of significance for you or for history in general).

Now, I realize all this could be a little confusing when you are just starting out your coin
collection, but don’t worry: as long as you are curious and read as much as you can on the topic,
you will definitely get all the ins and outs of this lucrative hobby.
 Where and How to Sell Your Coins

Just as with buying coins, there are many different platforms where you can sell your coins to
make a proft. Whether you decide to sell online or to a dealer in-person largely depends on your
level of comfort with the internet, but as a general rule selling online will yield you more
money.

If you’d prefer to not sell online, your best bet is to sell to a coin shop. My recommendation is to
pick out the highest-rated coin shops in your area and bring your coins to the owners for a quote.
Get quotes from multiple shops before committing to a deal so that you can maximize your
selling price.

You can even call ahead to the coin shop to get a quote over the phone if what you’re selling is
relatively common or low-value. Keep in mind that a dealer will typically not have the time or
inclination to go through a massive collection of Wheat cents (or whatever else) and evaluate
each coin, so make sure to do an initial appraisal of your own and split out the highest-value
coins from the rest of the pile.

If you have higher-value or rarer coins, it may be worth looking up the calendar of local coin
shows in your area – dealers at coin shows often specialize in certain types of coins, and may be
able to pay more money for coins within their area of specialization. Coin shop owners, on the
other hand, are forced to be generalists and may not be able to offer as much money for niche
selection.

If selling online, your options are more plentiful. eBay is always my primary recommendation,
as it’s relatively accessible and easy to use, and has a huge market of coin buyers. I’ll go over
some more specific recommendations for how to list and sell coins on eBay.

eBay is typically a strong market for coins under about $1000. If you have more premium
material, you may instead want to consign your coins to a premium auction site.

Three of the larger premium auction sites are GreatCollections, David Lawrence Rare Coins, and
Heritage Auctions. All three mainly sell U.S. coins, with smaller segments for world and ancient
coins.

GreatCollections has no minimum consignment, but requires that all coins be slabbed and
authenticated by the third-party grading companies NGC, PCGS, or ANACS. They charge a
seller’s consignment fee of 5% for coins that sell for less than $1000, and 0% for coins that sell
for more than $1000. GreatCollections is my personal favorite as they have a skilled
photographer on staff that does a great job in taking high-quality photos of each coin. Don’t
forget that the quality of the photo plays a large part in how much a coin sells for online.

David Lawrence Rare Coins (AKA “DLRC”) has a minimum consignment value of $2500,
meaning that they will only accept your consignment if you’re consigning at least $2500 worth
of coins with them. They also have a 15% consignment fee on all coins. DLRC has quite an avid
following, and an especially strong market for early U.S. coins (18th and early 19th century).
Their photos are terrible and look like they were produced with a scanner, which is why I
generally avoid working with them.

Heritage Auctions is the biggest auction house of the three, and has a catalog that extends
beyond coins to sports memorabilia and other rare collectibles. Heritage has a minimum
consignment value of $5000, and a consignment fee of 15% (which can be negotiated down,
depending on what you have). Heritage gets the most traffic out of the three due to their large
marketing campaigns. Their photo quality is somewhat inconsistent, but seems to have improved
recently.

Beyond the auction sites, you can also sell directly to online dealers. PCGS has a great list of
coin dealers and their specialties, so you can find a dealer who might be interested in buying
whatever specific types of coins you have.
 How to Sell Coins on eBay

This is a meaty topic, and could easily be turned into an eBook of its own. As an eBay Power
Seller for over a decade, I’ve learned quite a bit about how best to maximize value when selling
coins. But I’ll try to condense down my advice as much as possible into the essentials.

Feedback Rating

Feedback score goes a long way on eBay. If you’re entirely new to the website, you’ll have zero
feedback. That’s a red flag for buyers, as it shows that you have no history of successfully
completed transactions.

It may seem like a Catch-22, as the only way you’ll be able to sell is by getting feedback, and the
only way you can get feedback is by selling. But there are a couple of ways around it.

The easiest method is to simply buy things. You can earn feedback on eBay by buying or selling,
so if you use eBay for a few of those everyday purchases you’d otherwise get off Amazon or
somewhere else, you can quickly build up a solid feedback score.

The other option is to sell low-value coins at low prices. You won’t get full value for your coins,
as some buyers will be scared away by your low feedback score, but if you stick to low-value
coins you won’t be losing out on much potential money either.

Buyers are not required to leave feedback after a sale, and don’t always leave it – sending the
buyer a friendly email with a request for feedback may help you get feedback. Make sure not to
chase them too much.

Before trying to sell more valuable coins, I would recommend hitting a feedback score of at least
10 (this is the bare minimum) but the higher you can get it, the better.

Photography

Once you’ve got your feedback score in a good place, the next step is to create a high-quality
listing. One of the most important things to sell successfully on E-bay are your photos.

Ideally you have a DSLR or a digital camera, but at the bare minimum you’ll want something
(even a smartphone) with a macro zoom function. The macro function will allow you to zoom in
close to the coin while keeping it in focus.

I highly recommend buying a copy stand like the one below to hold your camera. Serviceable
copy stands can be found on Amazon or eBay for $50 or less, though nicer ones will cost a
couple hundred. You need a copy stand to hold your camera steady so that you can take a photo
without flash while still keeping the coin in focus. A tripod can also work, though it isn’t quite as
versatile as a copy stand.

You’ll want to take the picture on a neutral background, either black or white (I prefer white), so
that the coin stands out. I recommend putting the coin of something like a marker cap or a cork
so that it’s elevated and separated from the background – otherwise, the camera may partially
focus on the background rather than focusing entirely on the coin.

Lighting is also very important. You want consistent lighting – I prefer using two to three lamps
with compact fluorescent (CFL) bulbs in a natural daylight hue, setting the lamps at the 10:00,
12:00, and 2:00 positions around the coin. LED bulbs are also great.

A normal halogen/incandescent lightbulb will impact the white balance of your picture (skewing
it orange/red), so make sure you have your camera set to the correct white balance setting.
(Using a natural daylight hue CFL bulb like I do means that you won’t have to worry about
setting the white balance, and the bulb also won’t get nearly as hot as a typical halogen).

If you don’t want to geek out about coin photography as much as I have and would prefer a
simpler method, a single desk lamp at the 12:00 position is fine. It’s better if you have something
where you can point the bulb down towards the coin (like a gooseneck lamp), as an upright bulb
with a lamp shade makes for more imprecise lighting.

Set the coin so that it’s centered within the photo view, then set the timer delay function on your
camera. This will ensure that you don’t bump the camera slightly and hurt the focus when taking
the picture.

Once all is set, take the picture. Try adjusting the lighting and take several pictures to figure out
the optimal settings for your particular setup.

If you’re using an iPhone or a phone camera, much of the above won’t apply. Just try to hold
your hands as steady as possible while taking the shot, and don’t use the flas. Flash will result in
a poorly lit photo that looks way different than the coin’s actual appearance.

To illustrate the benefits of these photo tips, below are a few photos I’ve snapped myself.

Title

Once you’ve got the photos, you’ll want to design the listing itself. First off, be as descriptive as
possible in the title. The more relevant keywords you have in the title, the more traffic you’ll get
from buyers searching and finding your coin.

At the bare minimum, you should include the following:

Date and mintmark

Nation (i.e., U.S., France)

Series (i.e., Walking Liberty, Morgan)

Denomination (i.e., Nickel, Dollar)

Condition (i.e., Mint State, Fine)

Grade (whether the coin was professionally graded by a company like NGC or PCGS)

I also like to include the composition of the metal (if silver or gold), any descriptors specific to
the coin (toned, proof like, etc.) and any other keywords I think a buyer might use to find my
coin.

Here are a few examples of well optimized titles:

1926-S U.S. Walking Liberty Silver Half Dollar, Mint State Uncirculated Condition

1913-P U.S. Buffalo Nickel, NGC F-12 Condition

1881-S U.S. Morgan Silver Dollar, PCGS MS-63 Condition, Rainbow Toning

Product Description

The other part of the listing is the product description. Here you should give a brief description
of the coin, highlighting its strongpoints and calling out any problem areas. Personally, I like to
describe the level of wear on the coin, and describe the patina or toning. If it’s an uncirculated
coin, I’ll also describe the strength of the luster.

Basically, what you’re actually trying to do is give the buyer as much information as if they were
able to look at the coin in-hand, helping to remove the uncertainty that comes with online coin
buying. You want to actually make the buyer confident that the coin they receive won’t surprise
them – that’s why it’s especially important to call out any problem areas such as rim dings or
scratches, just in case the buyer didn’t notice them in the photos.

When listing a certain coin, you may also find it helpful to search through sold listings. Look at
the listings of similar coins that sold for the highest prices – how did those sellers title their
coins, and what did they write in their product descriptions? You can so much lot by checking
the listings of coin sellers who do this for a living.

Pricing

Starting auction price is another consideration, though less important than you might think. As
long as the starting price is well below the market value of the coin, you can expect at least a
decent level of bidding activity. Most coin sellers set their starting price at $0.99, which gives
ample room for buyers to bid before the coin hits its market value.

Ideally, you want multiple buyers to get into a bidding war and become fixated on winning the
coin, driving the price up. Bidding wars are easier to drive when you set a low starting price.

eBay also allows sellers to set a “Reserve Price” on their auctions, a price that must be reached in
order for the coin to sell. If bidders don’t bid the coin up to that price, the listing will end and the
seller will keep the coin with no sale.

This may actually seem like an appealing option to sellers who want a bit more security with
their auction listings, but I highly recommend against it. The listing will be labelled as a Reserve
Price auction on the webpage, and eBay buyers generally stay away from auctions with reserves.
It’s unlikely that you’ll get enough bidding activity to hit the Reserve Price, even if it’s set very
low.
 Conclusion

Thank you for reading this book. The idea of becoming a coin collector is fascinating. The work
itself seems easy to do; just collecting old and new valuable coins, period. This may work, but
only if all you want to have is a stash of many unclassified coins in a piggy bank or something,
just like everyone else who throws their coins in some jar. It will not be interesting to look at and
no, you cannot call this ‘practice’ coin collecting.

Many beginners of coin collection do this—you may not be the only one. But you want to have
an amazing and valuable coin collection, don't you? Provided in this guide are guidelines on how
to get started with a coin collection, so that you can avoid rookie mistakes that may compromise
your practice and distort your collection. Find out about the kind of coins to collect and where to
find them, coin handling tips to help you maintain them in top condition, and more.

Whether you want to start a coin collection as a hobby, document history, or generate wealth,
this book will demystify it and give you a step-by-step guide you can use to become a coin
collector.

Some persons collect all kinds of things for any reason best known to them. However, the reason
for collecting is to spark one’s interest and study more about something you’re obsessive about.
Collecting is personal, but it has something to offer, coin collecting is not something different.

Today, coin collectors enjoy collecting, trading, and exchanging coins for many different
reasons. Some people collect coins because it is a fun hobby, others do it for investment purposes
and some even combine both of those reasons to collect coins. Some do it accidentally because
they get fascinated by coins, especially from many generations back. Others take it very
seriously and keep coins to preserve history. It is true that over the years, some coins are worth
more than they used to be. Good luck.