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What Kind of Coin Collector Are You?

June 28, 2011 By wbuscoin Leave a Comment

     Casual coin collecting

   The most ordinary type of coin collector is the casual collector. Casual collectors are both kids and adults. They collect random coins because they like the fun of it. The casual coin collector does not spend as much money on buying and preserving coins as a more advanced coin collector. Casual coin collectors usually have interest in coins with a special meaning to them, like for instance a coin minted in their year of their birth. Casual collectors often get hold of more interesting pieces as gifts from friends or family members. The gift of a rare coin has transformed many casual collectors to curious collectors instead.
 
     Curious coin collecting

   When a collector goes further than just circulation finds and getting gifts. He develops more of an interest in coins and becomes more a curious collector. The curious collector will buy some inexpensive coins, maybe look around coin shops or look at coins on eBay or other related internet sites. That way a survey of potentially interesting areas of coin collecting is made, and as the curious coin collector interacts with more seasoned collectors, he is bit by bit learning the trade of buying or selling coins. Like for instance studying coin books before making any serious decisions about buying expensive coins. At a point most curious collectors learn enough to become an advanced coin collector.

     Advanced coin collecting

   Every advanced coin collector is a unique coin collector. Some are dedicated generalists looking for a few examples of all kinds of coins. If they do have enough resources, this can result in an astounding collection, as that of King Farouk of Egypt, who collected everything he could get his hands on.

   Many coin collectors are completists who want an example of everything within a certain set. For instance Louis Eliasberg was the only coin collector thus far to assemble a complete set of known coins of the United States. Other coin collectors focus on coins of a certain nation or historic period. And some collect coins from various nations or settle on error coins or exonumia like tokens and medals. As you can see, it can vary a lot.

   At the highest levels of coin collecting, it is a highly competitive sport. It can lead to astronomical prices as enthusiastic collectors struggle for the very best examples of each date and mint mark combination.

     Historical coin collecting

   Coin collectors of ancient and medieval coins are more interested in historical significance than other coin collectors. The coins of Byzantine, Roman, Indian, Greek, Celtic, Merovingian, Parthian, Ostrogothic and ancient Israelite origin are among the most popular ancient coins collected. Specialties tend to vary a lot, but the common approach is collecting coins minted during a particular emperor’s time in power. A completist would for example strive for a representative coin from each emperor.

     National coin collecting

   Usually coin collectors of national coins specialize in the coins of their own country. A common way to collect national coins includes collecting one of every date and mint mark for a particular series. This is termed collecting by type. For instance a date set in Britain may include one Queen Victoria large penny for each year, 1837–1901. In another example a U.S. type set might include an example of each variety of each denomination produced. Most coin collectors of national coins create unique combinations of date, mint mark and type sets.

     Error coin collecting

   Collecting error coins is a modern development made doable through the automation of coin manufacturing processes. Coin collectors of ancient and medieval coins; accept coins with errors because manual coin manufacturing processes lend unique features to each coin struck.

   Examples of coin errors could be repunched mint marks, doubled dies, double strikes, overdates, off metal coins, clipped coins, displaced or off center coins, and different denominations on two sides of one coin.

     World coin collecting

   World coins are collections of relatively recent modern coins from nations around the world. Geography is often the engine for this type of collector; he can travel around the world through his coin collection. Many collect by subject, for instance collecting coins from around the world featuring animals.

   World coins are usually inexpensive and may be a good starting point for children. Most children find foreign coins by looking under change-to-cash machines, where customers throw away assorted coins found in their penny jars. It is possible to find coins from all over the world, ranging from Canada, to South Africa, to Korea.

Written by cosminpin

Filed Under: US Coins Tagged With: , ,

Identifying Counterfeit Coins

June 28, 2011 By wbuscoin Leave a Comment

Coin collecters must always keep an eye out for counterfeit coins. Most coins for sale are genuine and sold at fair market value by honest dealers. That said, when a collecter does buy an altered or counterfeit coin the financial hit can be tremendus. Three basic types of fake coins exist: cast counterfeit, struck counterfeit and altered. Some fakes are of such high quality that even experts can be fooled occationally. Most of the time though a knowledgeable collector can weed out the suspicious looking coins.

Struck Counterfeit Coins

A struck counterfeit coins is often hard to detect. Struck counterfeit coins are made using the same process that the mint makes real coins with. Two dies, with the coin’s design stamped into them, are placed in a press. Then a sheet of metal is placed between the dies. The dies are then squezed together to form the “coin.”

A real coin is used as a model for a struck counterfeit coin’s dies. Due the amount of time involved, counterfeiters take a lot of time to ensure accuracy. Most struck counterfeit coins contain die markers, or marks not normally found on a real coin. Struck counterfeits are not exact copies. It often takes a jeweler’s loop and a great deal of knowledge to spot the differences between a real coin and a fake. For this reason coin collecters should know the die markers that are common to a real rare date coin.
 

Cast Counterfeit Coins

A cast counterfeit, an actually copy of a real coin, is made from a mold is made of both sides of a coin. Molten metal is poured into each half and then the halves are pressed together. This type of counterfeit coin was most often made to fool store clerks prior to the 20th century and were most often copies of silver coinage. Usually the metal used was not silver but a cheap base metal. Many times the dates were common.

Many times cast counterfeit coins are easy for an experienced collectors to spot. Cast copies will have a seam along the edge, as long as reeding was not added after the cast copy was made. If there is reeding, then inspect it closely for completeness and make sure that the reeds are even. Cast counterfeit coins often have a grainy look with lots of small pits in the fields around the design elements. The detail of the design elements will not be clear for the condition. When held in your hand, cast counterfeits have a different feel. Often they feel slimy or like they are coated with oil. The cheap metal used gets warm quickly and if dropped does not sound right.

Altered Counterfeit Coins

An altered counterfeit coin is made from a real common coin that has been altered to look like a valuable coin. This is the easiest way to make a fake coin. Many times tiny scratches will remain on the surface of the fake coin. The surface of the coin will not match the surface on different areas of the coin.

There are many examples of altered coins. 1937-D nickels sometimes have a leg removed to look like the famous 3-legged variety. This would change a coin that is worth a dollar or two into one that could sell for 0 or more. By knowing the diagnostics of the real 3-legged buffalo, you would know to look for the buffalo urinating.

Altering the date is another common way to cheat a collector. A famous example is the 1856 Flying Eagle penny. Only about 1000 real 1856 Flying Eagles were made as presentation pieces. They are extremely valuable. Some counterfeiters alter the 8 on an 1858 penny so that it looks like a 6. This only fools collectors that do not know what the real date looks like on the 1856. The shape and spacing of the real 56 cannot be duplicated with the 58. Anouther example of an altered date would be 1944-D pennies that have been changed to look like the 1914-D. Always check the date area carefully.

Mint-marks are sometimes added or removed to increase the value of a coin. Always look extremely close at the mint-mark area. Coins like the 1922-D penny can have the mint-mark removed easily. This can turn a coin into a 0 fake. Mint-marks are sometimes added to a coins surface. Many 1909-S VDB pennies are really nothing more than a 1909 VDB with the S added.

Most of the time a counterfeit coin can be detected with a good jeweler’s loop and a basic knowledge of a particular coin’s diagnostics. Beware of coins that have tiny marks that are not consistent with the rest of the coin. One of the best defenses against buying fake coins is a collectors instincts. If it does not feel right or the price is to good to be true, do not buy it.

Written by Bert Holopaw

Filed Under: US Coins Tagged With: , ,

Accessories for Coin Collection

June 28, 2011 By wbuscoin Leave a Comment

When collecting coins, one thing to consider is how to arrange and take care of the coins. Coins that are collected may be antique, ancient, or limited editions coins. These coins come from many countries and are usually high in value. A collector must know how to keep and take care of them so that they will retain the same appearance and value.

One way to take care of coins is to purchase s selection of coin accessories. Not only are coin accessories used to make a coin collection presentable and organized; but the primary purpose of coin accessories is to take care and preserve the coins.

When buying coin accessories it is important to choose those accessories that will best satisfy the needs of the collector. Some factors that may be considered are durability, price and usefulness.

Many coin accessories can be found in collectible stores and even online. Here are some coin accessories that may be considered:

Coin Boxes

Coin boxes are the most common sought for coin accessories as they are very convenient to coin collectors and specialists. The compartments of the box provide for easy location of the coins. The compartments are also wide, which provides flexibility in placing the coins. The wide compartments also allow the collector to handle the coins the proper way.

Coin Albums

Coin albums are similar to any typical album with the difference being that the coin album is especially designed to hold coins. A coin album has a transparent layer that aids in the protection of the coins. The collector does not need to handle the coins one by one. All he has to do is turn the pages and the coins are all there protected from improper handling.

Coin Holders

Coin holders are best for those collectors who collect coins during their travels. They allow portability of the coin collection. In addition, the collector does not need to carry his entire collection. He can simply place a single coin in the coin holder. Coin holders provide safety for the coins and prevent a coin from the many elements that may depreciate its value.

Other coin accessories can be found in the market. Determine the primary purpose of the accessory and if it can satisfy your needs. Prices will differ depending on the durability of the accessory. Research the many coin accessories that are sold and compare prices before choosing one.

 

Written by draco313

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