Learning the Ropes of Numismatics

By: Henry Smith

Coins can also be strikingly beautiful in their own right, with
the top designers of a nation striving to have their motif
chosen for immortality on the face of a coin.


Many countries produce gold coins for collectors or for
commemorative purposes. These coins oftentimes emphasize unique
aspects of the country's culture.

How would you feel if you knew that you had handed over a penny
worth $2,000 or more as change for a dollar?

Physical dirt can be removed by careful washing with a hand soap
and patting dry. Tarnish, called toning to collectors, does not
lower the value of the coin.

To the collector, bragging about 'finds' constitutes one of
life's most enjoyable pastimes. Gold coins, for instance, are
very popular indeed with investors. They not only have a
collectable value associated with them but also the value of the
precious metal itself that will never depreciate by very much.

Commemorative coins are a popular form of collection, as are
rare minted coins like those which had an error in their
stamping. If a certain set of coins doesn't interest you, it
won't be any fun at all to become a collector.

Because coin dealers are experts in their chosen fields, they
will also have better connections than individuals who buy coins
on their own will.

Learning the ropes of Numismatics

Numismatics is the study of money, medallions, banknotes, token
coins, and stock certificates. It is believed to have been
established in the time of Julius Caesar who wrote the first
book on the subject. It is a very interesting topic because
every medal or coin signifies a different era, culture, economy
and/or politics.

Numismatists or the people who study the history and over all
appearance of the above mentioned forms of currency are
different from coin collectors. Unlike numismatists, coin
collectors are only interested in collecting coins and the
prestige that goes along with it; a numismatist may also be a
coin collector and vise versa.

Over the years, coin collection has been very popular. The most
common designs are famous people and animals to depict the era
when the specific coin was released. Numismatists are generally
interested in use of money, its origin, appearance, variety and
production. They aim to explore the role of the different kinds
of currency in our history using mint information. Mint refers
to the place or facility where the coins are manufactured. They
also grade or authenticate coins to determine their market
value. To facilitate this, coin grading system facilities were
established.

At this time there are three major third party facilities that
authenticate coins and/or paper money. These are: the PCGS or
Professional Coin grading system located in Newport Beach, CA;
the NGC or Numismatic Guaranty Corporation in Sarasota, Florida;
and Paper Money Grading (PMG).

PCGS is a third party institution that was established in 1986,
which grades and authenticates coins primarily for commercial
purposes. They are an independent body providing expert opinion
in rating a coin. NGC is also a third party institution offering
services solely to numismatists. It was established in 1987. On
the other hand, PMG is solely for authentication of paper money
and a smaller department of PCGS.

When coin collecting was not as popular as it is now, there were
only 3 categories into which a coin could fall: 1. Good - which
means that the coin has all of the details intact; 2. Fine -
which means that the coin has all the details intact and still
has a bit of luster visible; and 3. Uncirculated - which means
that the coin was never put on the market thus maintaining its
original appearance.

Coin collecting for investment purposes can be a tricky
endeavor.

This can be done by following what coins are being sold for, and
what dealers are paying for coins. You will need to be shown how
to assess the true value of a coin which can be based on many
factors such as age, mint mark, and condition.

Everybody wants to make sure that their investment is protected,
but there are no guarantees, especially in rare coins. In fact,
some rare coins take years to appreciate to the point of being
able to sell it profitably.

On the flip side of the American Eagle gold coins is a nest full
of bald eagles, the national bird of the United States. The nest
represents the American dedication to unity and family. At the
beginning, coin collecting had a very practical reason - there
were no banks in which to store money.

For most gold coin collectors, there are the highly coveted rare
gold coins and a lot of gold coin collectors are interested in
these rare gold coins that they will offer high bids just to be
able to get their hands on these.

Another common oversight is when the mint mark, the tiny letter
on most American coins that indicates which mint created the
coin, is missing or incorrect. Ancient kings (and even today's
leaders) had a telling habit of having their faces imprinted on
their currency.

There are so many different kinds of rare coins to collect,
ranging from gold bullion coins to ancient Roman coins, that it
is impossible to be a true expert in all of them. You'll want to
find a merchant that specializes in the particular area that is
of interest to you.

However, today coin grading has evolved and is becoming more
definite. They use a combination of letters and numbers that
corresponds to the quality of a coin. The coin grading system of
United States of America is the most comprehensive and
recommended for beginners. An example of USA grading system:
MS-60 to MS-70 which means that the coin is blemish-free and has
good color and strike. In short it's perfect! Knowing how to
grade a coin properly is not only a gift, it's an art. It
requires knowledge, exposure and obviously skills. For coin
collectors, ability to grade a coin is a must because the value
of a coin largely depends its grade. Here are some components
Numismatists use in coin grading

1. Luster - it is a determining factor whether or not a specific
coin has been circulated. To have a higher grade, a coin must be
technically intact and free from any form of imperfection or
blemish.

2. Surface preservation. Abrasion on the surface of the coin and
its location is a huge factor in grading a coin but it does not
necessarily mean that abrasion can lower the grade of a coin.
For example, if a good-looking coin has a severe abrasion on the
back that is unnoticeable it will not count against the coin,
but the issue may not be the same if the abrasion is located on
the front or focal point.

3. Strike. It refers to the coin designing process wherein the
coin is being stamped onto a planchet. In overall grading,
strike does not weigh a great deal.

4. Coloration. For some coin collectors, preservation of
original color of the coin has a huge impact on its value
especially if it is a copper or silver coin.

5. Eye appeal. Some coins may not be perfect but collectors may
find them attractive, however, it still requires expert opinion
to conclude that a certain coin is excellent in all aspects
mentioned.

If you have no background in grading coins, you have no business
in coin collecting and numismatics without employing help from
the experts. Coins have been playing vital roles, not only in
the lives of people who love collecting and studying them, but
in society as they represent different eras in history. Whether
you are selling, buying or collecting coins, you must acquire
the necessary basic knowledge or information; so that you can be
assured that it is accomplished properly.

When deciding which coins to collect, you should consider your
interests, your budget, and your return on investment.

An avid coin collector will be able to tell you virtually every
piece of history that surrounds any coin in their collection
both because they tend to specialize and because knowledge is
one of the most important factors when it comes to starting and
maintaining a collection of any value or worth.

Good quality coins purchased at reasonable prices will
appreciate, but probably no better or worse than other
investments.

A good number of coin collectors collect coins according to
themes. The coins they collect all have a common topic.

Generally speaking, putting demand aside, the more scare/rare a
coin, the higher its value. This is usually very true,
especially when comparing dates within the same series. As
money, gold coins have been a convenient way for people to do
their transactions. Nevertheless, a very few pennies were minted
in 1943 out of copper instead. These rare coins are worth
upwards of $200,000 today, and they look exactly like any other
penny.

Remember that most gold coins are worth more than their legal
tender amount. Although they re not available for purchase
directly from the U.S. Mint, American Eagle can be commonly
found for sale in coin shops, on the internet, by gold dealers,
and at coin shows.

You can get a silver locating device or a magnetic pole for
finding loose coins in ditches, under cars, or in other
hard-to-reach places. Or simply rely on your eyes to identify
those gleaming metal circlets of potential wealth. During the
Renaissance, popes and nobility began collecting coins for their
artistic and historical value, and the name "the hobby of kings"
was born.

Article Source: https://www.collectibles-articles.com

Free Ebook! More on Rare Gold Coins and where you can find them at www.goldcoin-rare.info

Related Items on eBay:

Old U.S. Estate Coin Grab Bag Indian Head V Nickel Proofs Dollar 22+ Coins
$19.99

OLD US SILVER COIN LOT – MIXED AMERICAN COINS 90% SILVER VINTAGE COLLECTION
$44.99

Estate Sale Silver Coin Collection – Mixed U.S. Silver Lot Bonus Included
$54.24

2026 Coin Collecting Software : CoinManage USA On USB. Inventory Your Collection
$49.95

5 Pack NUMIS® Coin Collecting Albums, Holds 200 "Flips" Each, 1000 Coins Total!
$99.99

2026 Walking Liberty Silver Eagle Coin American Eagle US Coin Collectible
$25.95

Print This Article

Comments Closed

Add To Favorites

Email to Friends

Publisher Ready