Posts Tagged ‘coins’

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Coin Collecting And How It Opens The Door To The Past

Saturday, December 24th, 2011

Probably one of the most popular hobbies in the world and also one of the oldest is coin collecting or numismatics. A lot of individuals may have collected coins at some point in time. If you want to start a coin collection, a lot of research and study should be devoted to the hobby of coin collecting.

Often, coins have been regarded as ‘mirrors of history.’ Antique coins possess historical value in addition to its monetary value as well as worth. Coins have different stories to tell of empires and emperors if they belong to different ages.

Generally, amateur coin collectors start their collection by collecting coins that belong to their own country because this is the easiest and the most effective way to start a coin collection. Given enough time, this may also give way to specializing in collecting coins that belong to a particular type. When it comes to coin collectors, they may also specialize in coins of a particular country or of a particular period or metal. Commemorative coins can also make an appealing collection and these would include those released during sporting events or those that mark the independence day of a country. Coins with faults or defects are also popular among serious collectors.

As with any other hobby, the coin collection market is flooded with fakes and if you are not an expert in this field it is very difficult to separate the original genuine coins from the counterfeit coins. Getting the coin authenticated by reputable coin grading and coin authentication services before you buy expensive coins is actually a good idea. In fact, the coin’s condition is denoted by a coin grade.

You should avoid buying coins from the Internet as it is hard to judge online whether the coin you are interested in is genuine or counterfeit which means that the best places to buy coins are from reputable coin dealers, auctions, coin shows or from other collectors. In coin cases, coin trays, and coin albums are where you can store your coins. Take note that keeping coins in a jar might scratch the coins so you should never store them there.

Amateur coin collectors make the mistake of thinking that cleaning coins is an important part for the coin collection. But that’s not true and it’s actually best if coins are not cleaned at all. The original look of coins is what collectors prefer so by cleaning coins, it may bring down their value. If your coins need any cleaning, you should first consult a professional or an expert. For cleaning coins, olive oil or soapy water may be used. Harsh cloths should never be used to clean, and tap water is a strict no-no as they contain minerals that may harm the coins.

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United States Mint Tries Dollar Coin Concept Again

Monday, May 2nd, 2011

Sacagawea dollars were developed for general circulation by the United States Mint. These coins were first released to the public in 2000.

The idea was to replace the $1 bill eventually with these coins. Coins last much longer in circulation than paper bills do. The government figured it could save $550 million every year in printing, storage, and shipping costs when they stopped printing the $1 bill. However, the government never found the willingness to stop producing the $1 bill. Today, the US mint still produces the dollar coins, but through different series with circulating designs.

The face design of the coin series is that of the Shoshone woman, Sacagawea, with her infant son on her back. She was the wife of a French trapper, Toussaint Charbonneau. Together they had a son named Jean-Baptiste. The entire family would accompany the explorers Meriwether Lewis and William Clark on their expedition to the pacific coast commissioned by President Jefferson. The family was picked up in the spring of 1805. For the next year and a half, they traveled up the Missouri River, over the Rockies, and to the Pacific Coast, then back. The Charbonneau family settled in South Dakota at the end of the journey in August 1806.

There is no known portrait of the real Sacagawea. This led the designer of the coin series to use a teenage Shoshone woman as a model to get a good approximation of historical figure’s possible face. The original design idea was to use Sacagawea as an ideal to recreate the early design of the Liberty Head gold dollar. However, the idea of using a more realistic portrait of the historical woman won out in the end.

The golden dollar coin series underwent a change starting in 2009. That year, the series was officially retitled as the Native American Dollars and featured designs depicting the contributions or accomplishments of Native Americans, tribes, or individuals. These are presented in chronological order with a different reverse design each year. The obverse design continues to feature the portrait of Sacagawea and child. The 2011 design highlights the Wampanoag Treaty of 1621. This was the first written peace treaty between the Wampanoag Nation and the European settlers at Plymouth Bay. The hands of the Massasoit and Governor John Carver are depicted exchanging the ceremonial peace pipe.

Learn more about the Sacagawea Dollar. This series includes some significant rarities such as the 2000 Cheerios Sacagawea Dollar that are worth substantial premiums.

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American Silver Dollars Still Shine Brightly As The Best Old Silver Dollars

Sunday, December 12th, 2010

Since the first days of America, the silver coin of choice has been the dollar. They have symbolized the lasting strength of the United States for over 200 years. American silver dollars are still sought by new and veteran coin collectors of all ages. They are not only beautiful works of art, they have a rich history being struck in silver dollar mints across the country.

Silver has always been a form of currency that has stable valve and is transportable. Gold coins are too small for their worth and copper has been too cheap. This has made silver the preferred coin metal of trade around the world and America has always minted silver dollars. These large, round pieces of metal actually started out being worth their weight in silver, being more than 90% pure silver very soon after the American revolution ended. The earliest American silver dollars were stamped from hand engraved dies so there was a lot of variation of design from coin to coin. These changes appeal to collectors.

The price of silver in the early days of America started to rise higher than gold. This led to the melting of old silver dollars to trade for gold coins. The United States mint had to stop striking silver dollars until prices stabilized in 1835. Silver prices calmed and the high price of silver settled to a normal place once again. This led to re-minting of American silver dollars. The first Liberty silver dollar began to be struck around this time.

The new design was by Christian Gobrecht called the Seated Liberty silver dollar. The Liberty design was an instant hit with the American public and was soon struck on nearly every coin in the country. The seated Liberty silver dollar was in circulation until being replaced by the Morgan silver dollar in 1878. Because of the large silver strikes in the Mother Lode of the West, Morgans were soon everywhere causing the value of silver to plummet. Washington soon passed legislation, pushed by powerful silver mine owners, making it a law that every banknote in the United States had to back its face value in the form of silver. The Morgan silver dollar was therefore minted in very large numbers leading to their ease of collection in the 1900s.

Morgan silver dollars are the easiest and most satisfying coin to collect. These big coins were struck for so long at five different U.S. mints, giving them many variants of date and series. They are easily the best way for a beginning collector to start.

Coin collecting with the Internet has never been easier. you can find everything you want, American silver eagle silver dollars, Eisenhower silver dollars and lots of uncirculated silver dollars at your own computer by just visiting some websites. What could be easier for beginning collectors or even someone with an established collection. The excitement of collecting can also bring joy with a growing investment in silver dollars.

Especially with the world’s uncertain economy and the rising value of silver, this is one of the best times to start an American silver dollar collection for your enjoyment and your future.

You can get more free information about collecting and investing in Old Silver Dollars. You will findgreat reward in beginning a great coin collection ofAmerican Silver Dollars, and the satisfaction isn’t bad either.

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The Next Collectible Quarter Series

Thursday, November 25th, 2010

The America the Beautiful Quarters are the follow up to the extremely popular 50 state quarter series that began in 1999 and ran until 2008. Many hope that these new coins featuring National Parks and sites will be just as popular with collectors, if not even more so.

Coin collecting received renewed interest during the release of the prior State Quarters series. Because of the unique designs and interesting format of the series, many of the public took notice of their coins. By featuring the beauty of National Parks, hopes are high that the public will also embrace the new series. Newly created folders, maps, and coin holders are already available for the coins.

The America the Beautiful Quarters will feature National Parks and other prominent National Sites from each of the fifty states and the District of Columbia. The front of the coin will continue to be the profile of George Washington, which will be a restored version of the original 1932 design, while the back of the coins will depict the sites. The first five coins of the series will be released in 2010 and will feature parks and sites chosen by the Secretary of the Treasury with recommendations by the United States Mint.

Besides the circulating quarter dollars, collectors can also look forward to a new silver bullion coin series featuring the same designs. These coins each contain 5 ounces of fine silver and will include letting on the edge of the coin. Release dates have not yet been set for these products, although collectors are eagerly awaiting them.

The America the Beautiful Quarters have the opportunity to continue the tradition established by the prior series of featuring rotating reverse designs depicting America. This time the natural beauty and majesty of the National Parks system will be highlighted, providing collectors with more than a decade of new designs to look forward to. Hopefully this series will prove just as successful as the former.

Learn more about America the Beautiful Quarters. Find valuable information such as complete mintages for current releases of the series.

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Where To Sell Gold Coins: Knowing Your Options

Saturday, November 20th, 2010

Now that you’ve made up your mind that you want to sell gold coins from your holdings, the next step is learning about all of your options for places to make the sale.

Most people have gold krugerrand or gold double eagle coins in their collection that they wish to sell when prices hit an all time high, and there are many possible venues to get the most for your money.

Here are the different possibilities.

You can find an individual collector. If you have American gold coins that have some numismatic value, you may find a collector who might be interested in buying them from you. They may be less interested in bullion coins however, and would rather take coins with collecting value.

The next possibility is your neighborhood coin store. Each shop is different, and their resources may or may not allow them to take all of your holdings at once. Also, if they do not typically deal with the kind of merchandise you have, they will probably underbid.

If going to individual dealers isn’t your cup of tea, you can hire someone to do it for you. A broker will do just that, and present what you have, trying to negotiate the best deal possible for you. They will carry the process off right through assisting with the sale itself. Their payment usually comes out of the final sale price of the items.

Auctions are another way to unload some of your holdings. You can run your own online auction, or have a third party do it for you, either online or in person.

No matter which avenue you explore, there are several pitfalls to avoid. Realize that no matter what the newspaper tells you, you won’t get market price for your collection. Don’t forget that buyers will be looking to make money on the sale too, and they will use the lack of certainty in tomorrow’s market against you to push the price down.

Also, people may try to stiff you like they have in the past, so make sure you check references, reputation, and credentials. Verify that they are members of official societies for numistmatists or dealers and that they abide by a clear code of ethics. Don’t skip this step, or it will cost you quite a bit of money and heartache.

You have many choices when you sell gold coins, and each have their own pros and cons which you’ll have to weigh for your individual situation.

Afraid of getting ripped off? It happens every day when people try to sell gold coins. Visit Tom’s blog and see what he’s doing to keep his American Eagle Coin collection safe and ready to sell for top dollar when the time comes.

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The Most Unpopular Coin Series?

Monday, November 15th, 2010

The intentions of the Susan B. Anthony Dollar were positive. The series would honor a famous figure from women’s suffrage and it would create a circulating dollar coin. With the second respect, this was expected to save the government money since coins could last for decades, while paper dollars wore out quickly. Unfortunately, the public never embraced the small sized dollar and production of the coin quickly ceased.

Prior to the Anthony Dollar series, Eisenhower Dollars were struck for circulation for eight years. These coins had the same size as the classic silver dollar, although they were stuck in a composition of copper nickel clad. This series was often criticized for being too large and bulky for use in commerce. Outside of use in some casinos, not many were used in commercial transactions.

In 1979, the US Mint released the new Susan B. Anthony Dollars. These attempted to overcome the problems of the prior series. They were sized at 26.5 millimeters, smaller than the traditional 38.1 millimeters for the denomination. The inner rim was given thirteen sides, which would allow the coins to be differentiated by touch. A new design was used for the coins, with the portrait of the famous figure from the womens suffrage movement on the obverse. The reverse carried the same design as the prior series, based on the Apollo 11 mission insignia.

For the first year of issue, more than 750 million coins were struck across three mint facilities. This massive amount was produced in anticipation of widespread circulation. Unfortunately, this did not come to pass as the public found the coins difficult to identify. The size made them close in diameter to the quarter, and confusion ensued to the point where some merchants did not accept the coins.

Production was cut drastically in the following year and the coins were only struck for collectors by 1981. The huge stockpile of Susan B. Anthony Dollars would last for nearly two decades. In the late 1990’s more widespread use in vending machines finally exhausted the supplies. The series made one more year of mintage in 1999 before officially being replaced by Sacagawea Dollars.

Learn more about the intriguing Susan B Anthony Dollar. Although never readily used in circulation, some issues like the 1999 Susan B Anthony Dollar are popular with collectors.

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Collectors Await America The Beautiful Quarters

Tuesday, October 26th, 2010

In 2010 a new series of quarters will be launched by the United States Mint. The America the Beautiful Quarters series will issue a total of 56 circulating quarter dollar coins over the course of twelve years, featuring National Parks or other National Sites from each of the states, territories, and the District of Columbia.

The new quarter series follows the success of the 50 State Quarters Program. This series of fifty different quarters ran from 1999 to 2008 and allowed Americans learn about the history and diversity of the different states simply by examining their pocket change. A one year program featuring the United States Territories and District of Columbia followed in the year 2009.

The prior programs and the new America the Beautiful Quarters program share some similarities, but also have some differences. Similarly, the new program will feature unique reverse designs for each subject, released at a rate of five new designs per year. The obverse of the coins will feature a constant design, which is a restored portrait of George Washington. The quarters will be issued for general circulation, allowing anyone to collect the coins from change received at everyday transactions.

The focus of the series will shift National sites. Under the authorizing legislation, this includes any site under the supervision, management, or conservancy of the National Park Service, United States Forest Service, the United States Fish and Wildlife Service, or similar department or agency of the federal government. Sites selected for the program include National Parks, National Forests, National Preserves, and National Wildlife Refuges.

To accompany the quarter series, a new program of silver bullion coins will also be introduced. The coins will be over sized replicas of each quarter, weighing five ounces and struck in .999 fine silver. These coins will be issued on the same annual schedule as the quarters and are expected to be available throughout the year when the corresponding quarter is issued.

The United States Mint has already established the order of release for the entire 56 quarter program. The America the Beautiful Quarters will issue the different designs in the order the sites were federally designated. The first year of release will include Hot Springs National Park, Yellowstone National Park, Yosemite National Park, the Grand Canyon, and Mount Hood National Forest.

Find more details about America the Beautiful Quarters including release dates, design proposals, and coin descriptions. Find information on the separate series of America the Beautiful Silver Bullion Coins.

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Interesting Silver Collectable Coins

Monday, October 18th, 2010

Before purchasing silver collectible coins, it is best to think about the reason why you’re collecting them in the first place. A large number of coin collectors collect silver collectible coins for investment purposes. They wait for the value of the coins to increase in the future. Other reasons why collectors hoard these coins include the coins’ beauty, value and rarity. Knowing why you’re collecting these coins will help you determine the right silver coin to buy. Canadian silver coins, silver bullion coins and the American Silver Eagles are the three most sought-after silver coins out there today.

Canadian Silver Coins

One of the most preferred silver coins by collectors and aficionados are Canadian Silver Maples. They’re great because of their value and beauty.

The Titanic Silver Maple Leaf coin, an1858 $5 silver coin, is one of the most famous Canadian Silver Maples. This coin weighs 1 troy ounce and is made of pure 99.99 percent silver. There were around 26,000 pieces of these coins that were created, but the shortage in circulation of these coins can be blamed on the distribution of the coins to only a few dealers. A portrait of Queen Victoria can be found on one side of this coin. The other side of the coin has the famous Maple leaf design. If you find a Maple Leaf in the feature, make sure that it is still it its original soft clear plastic. The coin should also be Brilliant Uncirculated (BU).

There were no pure silver coins created in Canada after the year 1858. Pure silver coins created in 1870 had a considerably different style and design. The year 1870, however, gave way for the stunning 50-cent piece. Immediately after the centenary silver coin of 1967 was created, the production of silver halves in Canada ended. Silver coins were replaced by nickel pieces in circulation.

Beautiful Silver Bullion Coins

If the reason for your collecting silver coins is for future investment, silver bullion coins are an ideal choice. Silver bullion coins are made of precious metals. They’re normally not for day-to-day circulation but for an investment. These precious metals are struck within a coin as a store of value. Most silver bullion coins weigh an ounce, but, some of them that are produced in limited quantity weigh heavier. The factors affecting the market price of silver bullion coin includes its type, weight and its precious metal composition.

The United States’ Silver Eagle, Austria’s Philharmoniker, Mexico’s Libertad, China’s Silver Panda, United Kingdom’s Britannia and Australia’s Silver Kookaburra and Lunar are some of the most accepted and sought-after silver bullion coins.

American Silver Eagles

America’s official silver bullion coin is the American Silver Eagle. It was released on 1986. The coin weighs 1 troy ounce, has a nominal value of $1 and contains 99.99% pure silver. The United States Mint certified the coin’s purity, content and weight. An uncirculated and proof version of the American Silver Eagle was created for coin collectors. The Silver Eagle was created in 3 mints, namely, the West Point Mint, San Francisco Mint and the Philadelphia Mint. A large variety of the Eagle Series known as the “2008-W Silver Eagle Reverse of 2007 Variety” was created in 2008. The Silver Eagles can be purchased from a network of authorized purchasers and wholesalers who met a specific set of qualifications. They are not directly sold to the public.

Before purchasing any collectable coins, be sure to read the fascinating reports from famed author Eowyn Obando.

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What Makes Silver Bullion Coins So Special

Wednesday, October 13th, 2010

Silver bullion coins are one of the well-liked varieties when it comes to coin collection. The flexibility of silver, only equaled by gold, allows it to be minted with complex designs. This makes the collection of silver coins precious as a hobby, investment or something passed as heirlooms. Although there is no such thing as 100% silver (the most is 0.999 pure), it is still a preferred metal choice of collectors because of a lot of reasons. Silver bullion coins can be utilized as legal tender. And like the American Eagle, which is backed by the U.S. Government’s guarantee for its purity and weight, silver bullion coins can be a great investment to add to your retirement account.

Silver is Affordable

Whether you want to start collecting coins or looking for something to give as gifts, silver dollar coins are a nice pick. Silver properties are hardwearing, but compared to gold, silver is more affordable. Silver coins are great choices for amateur collectors because they are easy on the wallet. This enables them to have the option to fast track massing the coins sets if they want. There are other collectors that look for silver coins specifically due to the fact that it is what they started to collect. There are also some designs on coins that look much better in silver. The “Miss Liberty” and the Spread Eagle of the American Silver Eagles are one of the most sought-after coin designs. Other coins with intricate minting designs that are desired are the Austrian Silver Philharmonics that has the stringed instruments and the pipe organ, and the Canadian Silver Maple Leafs that has the maple leaf and Queen Elizabeth II.

Remembrance

Collectors seek commemorative coins not just for their beauty and fun, but also because they are relatively limited in quantity. Commemorative coins are usually minted when there is a notable milestone in history. These commemorative coins can serve as a recollection of that significant event. Half Dollar coins have been made for centennial years of cities like Bridgeport, Connecticut, and states like Texas in the mid 1930s. Also embossed on Half Dollar coins are the designs of the Olympics and other sporting events. Commemorative coins are usually minted for profit, charity, or to raise funds for community projects.

Keeping the commemorative silver coins for years may increase their value depending on their condition and how rare they would become. Silver coins that are well-protected from scratches, tarnishes, and dents would fetch a higher selling price than those with defects. Older dated coins may seem to have more value, but if a good number of its kind is still readily available or if it is not in good condition, then the newer but rarer coin with its sheen still preserved might sell higher. If you are into collecting for the investment aspect, you have to be mindful of this.

Indeed, silver will always have its special place in collectors’ hearts not only because of its affordability, but for the distinct beauty it gives to the coin. Since appreciation for silver had started a few thousand years earlier than 3000 BC, then this shiny metal, and man’s affection for it, has certainly not changed over the years.

Read free practical reports on silver bullion coins from famous author, Eowyn Obando. Read her reports on silver dollar coins first before you begin collecting.

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Return Of The Large Sized Dollar Coin

Thursday, September 30th, 2010

Following a gap of more than 30 years, the United States Mint resumed production of the circulating dollar coin. The new series known as the Eisenhower Dollars were struck from 1971 to 1978. Production of circulating coins took place at the Philadelphia and Denver Mint facilities. The San Francisco Mint also struck 40% silver versions of the coins for collectors.

The idea to create a new dollar coin first began to circulate in 1969. The last time a dollar coin had been issued was back in 1935 with the Peace Dollar. The new dollar coins would honor Dwight D. Eisenhower who had died in 1969 and the Apollo 11 space flight, which had sent man to the moon in 1969. The authorizing legislation for the new coin was finally passed late in 1970. It called for the production of large sized dollar coins, as well as coins struck for collectors with 40% silver content.

The obverse design for the Eisenhower Dollar features a right facing portrait of the former President. US Mint Chief Sculptor and Engraver Frank Gasparro tried to capture the strength and character of this important man. The reverse of the coin, also designed by Gasparro, was based on the Apollo 11 space flight insignia. A bald eagle is pictured landing on the moon, carrying an olive branch. This hearkens back to the statement, “The eagle has landed.”

The original reverse design was replaced for one year in 1976. The purpose of the new design was to commemorate the 200th anniversary of the American Revolution. The new design by Dennis R. Williams featured the Liberty Bell partially overlapping a moon. This paid homage to Revolutionary times as well as the contemporary event of the moon landing. The design was issued only during 1976 before the original was resumed.

Throughout most of the Eisenhower series, special coins were produced for collectors. This included silver dollars produced from 1971 to 1976. Unlike the coins struck for circulation, which were struck in copper and nickel, these coins had a composition including 40% silver. The coins were sold to collectors individually in proof or uncirculated finishes from 1971 to 1974, and as part of a three coin Bicentennial set in 1976.

Learn more about the Eisenhower Dollar. Find more background on the creation of this brief, but important series, details of each release, and a full listing of Eisenhower Dollar mintages.

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