Collecting Ancient Coins - A Classical Tradition

Roman nobles fascinated by Greek culture collected ancient Greek coins and antiquities during the reign of Augustus Caesar, when the art and science of numismatics began. There is no record of collecting ancient coins during the Dark Ages, but Renaissance magnates beginning with Petrarch collected portraits of emperors on Roman coins. Their willingness to pay high prices for fine portrait specimens led to the first numismatic imitations, Paduan medals struck by Cavino and other medalists of the time.

Different coin types attract different personalities. Ancient Greek coins fascinate collectors drawn to their artistic merit, while among ancient Roman coins, early Imperial issues attract those prizing realistic and imposing portraits of emperors and their families. Ancient Persian coins have special meaning to collectors interested in the history, culture and religion of Iran. Further East, the successors of Alexander struck unusual and attractive Indo-Greek coins in Southwest Asia. Ancient coins were issued in many metals: gold, silver, electrum (a natural gold-silver alloy), brass, bronze, billon (debased silver), potin, lead and even nickel. Ancient gold can be expensive, although some issues (notably those of the Byzantine Empire) are very reasonably priced. Ancient silver coins are normally well preserved, on the other hand bronze coins often circulated for long periods and many examples show considerable wear, as well as the effects of chemical changes.

Biblical coins attract those interested in early Christianity and ancient Jewish culture. Such collectors may desire to find a "Tribute Penny" denarius of the emperor Tiberius, a "Widow's Mite" lepton, a "Thirty Pieces of Silver" shekel or coins of historic personalities such as Herod and Pontius Pilate that they can buy online. All of these biblical coins may best be appreciated when presented in their historical context -- the special theme of Classical Coins.

Numismatic literature, in addition to its informative content, is also a significant collecting subject. Elegant engraved illustrations of Greek and Roman coins in early numismatic books are treasured today by collectors. Catalogues offering ancient coins for sale, either at fixed prices or at auction, are also an important source of reference information and die study illustrations for ancient Greek coins, Roman coins, Biblical coins and Persian coins. Such catalogues sometimes become primary references, for example the Pozzi and Shore sale catalogues.

Classical Coins offers a wide selection of numismatic books, monographs, sale catalogues and other references that you can buy online through our website. These can be good investments, since they recently have been appreciating even faster than the coins they describe.

Who And What Are Rare Coin Collectors?

There are collectors of various degrees that collect various types of items. Some collectors collect figurines, others stamps, there are collectors of tin boxes, and collectors of rare coins. In truth, any type of merchandise ever invented and sold probably has a person who collects it.

Rare coin collectors are distributed around the world and are probably the most diverse type of collectors in the collecting game. While other type of collecting requires a certain level of wealth, or unusual interest in toys or boxes, rare coins, to some degree interests everyone; after all, we are talking about money.

Coin collecting can begin at any age, when a child receives their first penny, for example, or an adult who finds a coin that they have not seen since their childhood. Money tends to strike a cord in all of us, and coin collecting can be an interesting component in that interest. Rare coins often draw interest because of the amount of money it is worth. A double eagle $20 gold coin for example, in mint condition can go for nearly a half a million dollars. That is an outstanding number, and for an individual who has a number of rare coins, it can be like winning the lottery.

Rare coins do not simply fall into a lucky persons lap as a rule. Usually rare coins are sought after and searched for over time. However, there are those lucky few who's family simply kept coins stored in a box and over time it got forgotten and before they knew it, they had a handful of rare coins. In other cases, rare coins are found quite by accident and are not discovered until the coin has been passed from person to person over time. Often, rare coins are purchased before they become rare, by someone who has the insight to recognize the potential worth of the coin.

Regardless of how the rare coins are received, rare coin collectors are proud of what they have and are always trying to either grow their collections or create new ones. These portfolios are often farmed out to businesses that specialized in the acquisition of rare coins. Such businesses typically have an inventory of rare coins in stock for those parties who are interested in developing a rare coins portfolio. These companies need to simply be told what rare coins a client is looking for and they began to find the coins for them

Coins and Coin Values

A coin is usually a piece of hard material, usually metal or a metallic material, usually in the shape of a disc, and most often issued by a government. Coins are used as a form of money in transactions of various kinds, from the everyday circulation coins to the storage of vast amounts of bullion coins. In the present day, coins and banknotes make up the cash forms of all modern money systems. Coins made for circulation (general monetized use) are usually used for lower-valued units, and banknotes for the higher values; also, in most money systems, the highest value coin is worth less than the lowest-value note. The face value of circulation coins is usually higher than the gross value of the metal used in making them, but this is no longer generally the case with historical circulation coins made of precious metals. For example, the historical Eagle (U.S. coin) contained .48375 troy ounce of gold and has a face value of only ten U.S. dollars, but the market value of the coin, due to its metal content, is now many times the face amount.

Exceptions to the rule of coin face-value being higher than content value, also occur for some non-monetized “bullion coins” made of silver or gold (and, rarely, other metals, such as platinum or palladium), intended for collectors or investors in precious metals. For examples of modern gold collector/investor coins, the United States mints the American Gold Eagle, Canada mints the Canadian Gold Maple Leaf, and South Africa mints the Krugerrand. The American Gold Eagle has a face value of US$50, and the Canadian Gold Maple Leaf coins also have nominal (purely symbolic) face values (e.g., C$50 for 1 oz.); but the Krugerrand does not.

Historically, a great number of coinage metals (including alloys) and other materials have been used practically, impractically (i.e., rarely), artistically, and experimentally in the production of coins for circulation, collection, and metal investment, where bullion coins often serve as more convenient stores of assured metal quantity and purity than other bullion.

Coins have long been linked to the concept of money, as reflected by the fact that in other languages the words “coin” and “currency” are synonymous. Fictional currencies may also bear the name coin (as such, an item may be said to be worth 123 coin or 123 coins).

The value of a coin: In terms of its value as a collector’s item, a coin is generally made more or less valuable by its condition, specific historical significance, rarity, quality/beauty of the design and general popularity with collectors. If a coin is greatly lacking in any of these, it is unlikely to be worth much. Bullion coins are also valued based on these factors, but are largely valued based on the value of the gold or silver in them. Sometimes non-monetized bullion coins such as the Canadian Maple Leaf and the American Gold Eagle are minted with nominal face values less than the value of the metal in them, but as such coins are never intended for circulation, thse value numbers are not market nor fiat values, and are never more than symbolic numbers.

Most coins presently are made of a base metal, and their value comes from their status as fiat money. This means that the value of the coin is decreed by government fiat (law), and thus is determined by the free market only as national currencies are subjected to arbitrage in international trade. This causes such coins to be monetary tokens in the same sense that paper currency is, when the paper currency is not backed directly by metal, but rather by a government guarantee of international exchange of goods or services. Some have suggested that such coins not be considered to be “true coins” (see below). However, because fiat money is backed by government guarantee of a certain amount of goods and services, where the value of this is in turn determined by free market currency exchange rates, similar to the case for the international market exchange values which determines the value of metals which back commodity money, in practice there is very little practical economic difference between the two types of money (types of currencies).

Coins may be minted that have fiat values lower than the value of their component metals, but this is never done intentionally and initially for circulation coins, and happens only in due course later in the history of coin production due to inflation, as market values for the metal overtake the fiat declared face value of the coin. Examples of this phenomenon include the pre-1964 US dime, quarter, half dollar, and dollar, US nickel, and pre-1982 US penny. As a result of the increase in the value of copper, the United States greatly reduced the amount of copper in each penny. Since mid-1982, United States pennies are made of 97.5% zinc coated with 2.5% copper. Extreme difference between fiat values and metal values of coins causes coins to be removed from the market by illicit smelters interested in the value of their metal content. In fact, the United States Mint, in anticipation of this practice, implemented new interim rules on December 14, 2006, subject to public comment for 30 days, which criminalize the melting and export of pennies and nickels. Violators can be punished with a fine of up to $10,000 and/or imprisoned for a maximum of five years.

To distinguish between these two types of coins, as well as from other forms of tokens which have been used as money, some monetary scholars have attempted to define by three criteria that an object must meet to be a “true coin”. These criteria are:

1. It must be made of a valuable material, and trade for close to the market value of that material.
2. It must be of a standardized weight and purity.
3. It must be marked to identify the authority that guarantees the content.

First coins: The question of the world’s first coin has long been and still is debated. Among numismatists, it is debated whether the world’s first coins originated in Lydia, China, or India (where coins were known as karshapana). One early coin from Caria, Asia Minor, includes a legend “I am the badge of Phanes,” though most of the early Lydian pieces have no writing on them, just symbolic animals. Therefore the dating of these coins relies primarily on archeological evidence, with the most commonly cited evidence coming from excavations at the Temple of Artemis at Ephesos, also called the Ephesian Artemision (which would later evolve into one of the Seven Wonders of the ancient world). Many early Lydian coins were undoubtedly struck (manufactured) under the authority of private individuals and are thus more akin to tokens than true coins, though because of their numbers it’s evident that some were official state issues, with King Alyattes of Lydia being the most frequently mentioned originator of coinage.

The first Indian coins were minted around the 6th century BC by the Mahajanapadas of the Indo-Gangetic Plain. The coins of this period were punch marked coins called Puranas, Karshapanas or Pana. The Mahajanapadas that minted their own coins included Gandhara, Kuntala, Kuru, Panchala, Shakya, Surasena, and Surashtra. Some argue that Indian coins were developed from Western prototypes, which the Indians came in contact with through Babylonian traders.

Indian Coins: The Tiny Fanams 001

Fanams are so small in size that most people are amazed that such coins were ever introduced. It is difficult to manage them, and it is more easy to lose them than hold on to them.

Pictures: Travancore Silver fanams, shown above a cenitmeter scale and below and Indian one rupee (modern) coin to give an idea of how small they were

Several reasons have been suggested for the small size, and perhaps all of them are right. One is the importance of gold in the Indian society. Giving gold to friends, relatives, and to the priests were practices embedded into the Indian fiber. However, this would be an impossible task for most people in society, seeing gold was always costly. It has been proposed that tiny coins made of gold would fulfill such a need in an ideal manner.

It is precisely because of this reason that the Mugal emperors like Aurangzeb, Farrkuhsiyar, Mohammad Shah, and Alamgir II issued half-fanams for use in Chiefly in their southern Kingdoms. These were issued from their southern mints at Gutti, Thadipatri, and Cuddppah.

There seems to be some merit in this proposal because even today such a practice exists in a couple of states in India where gold is an essential part of life. For example, in many places in UP, placing gold ornaments on the dead body is essential before a woman’s body is cremated. Thus they sell extremely light gold ornaments in these places which helps the rich and poor to fulfill the religious practice without spending a fortune.

Similarly, in Kerala (a state mad after gold), one-gram gold ornaments are common. People present these to relatives for marriage and other religious occasions. The small weight ensures that they do not burden the purchaser. Finally the family that get all these ornaments takes it to the goldsmith which melts them and makes a heavy ornament (or two), or exchanges them with heavier ornaments.

It has also been reported that in some places in Tamilnadu there was a practice of offering very tiny gold coins to the bride at the time of her marriage. These were then placed in the mouth of the dead body before cremation. Known as Pudu Panams (new money, probably an allusion to money given when she enters a newly wedded life) these were very small coins. In all probability these were gold fanams. Some people in Tamil Nadu are reported to practice this even today, but they no longer use gold coins or fanams for it.

There is always a possibility that some of the gold fanams seen today were minted specifically for such religious purposes, and that they were not “currency” in the real sense of that word. Only further investigation would help distinguish between the fanams that were minted for use as currency and the “fanams” that were manufactured (rightly) for this kind of religious practices.

Indian coinage can be understood only in the background of the peculiar history and social ethos of the country, and this can be a good explanation for the origin of gold (and then, silver) fanams in many places in India.

Coin Collecting

Coin Collecting is the hobby pertaining to collecting or trading of coins. Coin Collecting goes back as far as coinage itself. It originally started as the hoarding of coins in order to increase their value. Collecting coins for their artistic value came later on and was originally considered a hobby fit only for the rich (for obvious reasons).

There are many themes associated with coin collecting. Some collectors like to base collections off certain categories. For example, some might collect coins from different countries, some might look for specific years or periods, and others might look for specific mintmarks. There are many different categorizations that you could collect coins by.

Coin Value: The value of a coin can depend on a number of different factors. Two very important factors include the age and rarity of the coin. Often times a coin’s age can determine how rare it may be, but there are also a few other things that come into play. Many popular coins for collecting are coins that have been minted with errors are happened to of circulated for only a brief period of time. These types of coins are often much rarer because there are so few available to obtain. The most important factor in a coin’s value however is often it’s condition…

Coin Condition: A coins condition is determined by a number of different factors. The most important factor is the overall general wear of the coin. A coin’s condition can often be determined by a grading scale. One of the universally accepted grading scales is that of the Numismatic Guaranty Corporation (NGC). The following scale goes from 1 to 70 and includes both the numeric and adjectival grades:

MS 60-70 Uncirculated
AU 50, 53, 55, 58 About Uncirculated
XF 40, 45 Extremely Fine
VF 20, 25, 30, 35 Very Fine
F 12, 15 Fine
VG 8, 10 Very Good
G 4, 6 Good
AG 3 About Good
FA 2 Fair
PR 1 Poor

A coin is not always graded so easily, sometimes supplemental information is added to the description of the coin in order to describe its condition more fully.

Where to Obtain Coins: In order to start collecting coins (or continue collecting), it is important to first know where you can obtain coins. There are small coin dealers throughout the country, and a brick and mortar store can usually be found with a little effort. The internet has caused most coin collectors to turn to the web however, as the inventory is often very large and it allows the collector to compare a number of different stores easily.

The Top Ten Mint State Saints

Much has been written about the $20 Saint-Gaudens series since it is quite possibly the most popular gold coin sought after today. I’d like to discuss the rarity/value relationship of the top ten scarcest dates, in mint state condition. I will exclude the 1933 from this discussion since there is only one coin legal to own and therefore unobtainable by the majority of registry collectors. Although most coins have appreciated in value over the last 10 years, the Saint-Gaudens series has been the area of some of the biggest increases. In compiling this list, PCGS and NGC population numbers are used as a starting point as well as CDN values over the last ten years. Needless to say, population report numbers are not entirely accurate due to resubmissions; however they do still represent a high degree of accuracy. The increasing popularity of registry sets makes such analysis important for current and future collectors. (All population data is current as of 2/2/07)

#10) 1908-S:

The 1908-S has the distinction of being the lowest mintage date (22,000) in the series (aside from the 1907 $20 High Relief) Since we are focusing on mint state examples today, some would be surprised to see this date in the top ten list, however with a certified PCGS population of 121 and an NGC population of 124 in all mint state grades I rank it number 10.

Most Uncirculated coins have soft satiny luster and an adequate strike. There are a small number of heavily abraded and unattractive lower grade mint state coins which came over from Europe in the last few years. None of those coins were above MS-63 in quality. This may be the reason that the CDN bid price has not adequately reflected this date’s value over the last 3 or 4 years. For example; 1908S has a current MS-63 CDN bid of $15,500. These have been trading at auction in the last year for between $19,578 and $21,850. The latter coin I purchased out of the ANR sale in Chicago, July of last year. Needless to say I resold the coin for a profit. The relative grey sheet value of the 1908S should therefore resemble the value of other key date Saints with equal rarity and population.

One date that comes to mind is the 1926-D. The combined certified population of both dates in MS-60-62 is 139(1908-S) and 123 for the 1926-D, roughly equal, yet the 26-D trades for over twice the price of the 08-S. Moreover in MS-63 the 1908-S has a certified population of only 31 while 1926-D has certified population of 50.

Once again, the current CDN bid for the 1926-D is $34,500, more than twice the 1908-S. It isn’t until MS-64 and above that the 1926-D establishes its higher rarity. One could therefore make the argument that the 1908-S is undervalued by today’s price levels. Still, the 1908S has appreciated in the last 10 years climbing from a Jan. 1997 MS-63 CDN bid of $7100 to today’s CDN bid of $15,500.

#9) 1926-D:

The 1926-D has always been considered rare. Most of the original mintage of 481,000 coins is thought to have been melted by the government back in the 1930’s. The only coins that survive today seem to be a few that made it over from Europe back in the 50’s and 60’s and some that were retained by collectors of the day. The PCGS population of 113 and NGC population of 90 in all mint state grades seem to bear this out. The 1926-D is extremely rare in grades above MS-63. When available, the 1926-D is usually well struck with good luster. CDN bid prices for MS-60-64 grades have more than doubled over the last 10 years

#8) 1927-S:

The 1927-S, even with its high mintage of 3,107,000 is another date that did not escape the government’s melting pot. Considered a great rarity even back in the 1940’s, on par with the fabled 1927-D, until a small group of coins were discovered in the 50’s and 60’s. Currently it is still a very rare date, with a PCGS population of 69 coins and an NGC population of 81 coins in all mint state grades. Most of the certified population is for grades below MS-64. When available, the strike can vary from full to being weakly struck in certain areas, however luster is usually good. CDN bid prices for MS-60-64 grades have more than doubled over the past 10 years. Even so, the 1927-S tends to trade for higher than CDN bid prices at public auction.

#7) 1931-D:

The 1931-D is part of what I call “the Fab 5” of dates in the $20 Saint-Gaudens series. The Fab 5 referring to the date run of Double Eagles from 1929-1932. These dates have been some of the most sought after and highest appreciating in the series. The original mintage of 106,500, while low, was not generally released into circulation and the majority of the coins were subsequently melted. The few that survive apparently came over from Europe as it seems that 31-D’s were struck primarily for export. As such, almost no circulated coins have been discovered to date (Certified PCGS and NGC population of only 3)

Total certified mint state population is 95 for PCGS and 50 for NGC. The vast majority of coins graded are in the MS-62-64 grades. When available, the strike and luster are usually strong but they are typically plagued by bagmarks. To illustrate the dramatic rise in value of this date, we go back to Jan. 1997 when MS-63 CDN bid was $16,000. As of January 2007, CDN bid is $75,000, an increase of nearly 370%! In MS-64 they have increased from a Jan. 1997 CDN bid of $21,000, to a current CDN bid of $90,000, nearly a 330% increase. The higher grades have fared nearly as well with MS-65’s increasing from a Jan. 1997 CDN bid of $50,000 to a current CDN bid of $103,000: up 106%. Recent auction results however show MS-65’s selling for $126,500. So in reality the increase has been on the order of 153%

#6) 1932:

The 1932 has the distinction of being the last “Fab 5” date in the run as well as being the last readily collectible Saint-Gaudens double eagle. The mintage figure of 1,101,750 is high; however like the rest of the 1929-32 date run, most were melted by the US government in the early 30’s. Since this date was never released into circulation, no circulated examples are known to exist and none have been graded by either PCGS or NGC to date. The current PCGS population in mint state is 57 and the NGC population is 71. The vast majority of coins graded are in the MS-64-65 range.

When seen, the 1932 is always well struck and lustrous. The 1932, like the rest of the “Fab 5” has appreciated tremendously over the last 10 years. In Jan. 1997 MS-63 CDN bid was $16,000. Current CDN bid is $60,000, an increase of 275%. In 1997 MS-64 CDN bid was $19,000. Current CDN bid is $75,000, an increase of 295%. Gem MS-65’s have also done well, appreciating from a Jan. 1997 CDN bid of $34,000 to a current CDN bid of $88,000, an increase of roughly 160%. However, current auction records show MS-65’s selling for $102,500-$103,500.

#5) 1931:

The 1931 is another date in the “Fab 5” run. Although the mintage of 2,938,250 is considerable, most coins never made it out of the government’s vaults and were subsequently melted. Just like the 1931-D almost no coins entered circulation. The combined PCGS and NGC population of circulated coins is only 2. The PCGS population in mint state is 74 and the NGC population is 40. The vast majority of coins graded are in the MS-63-65 range. The typical 1931 is of high quality with a very good strike and frosty luster. The 1931 is of slightly higher rarity than the 1931-D and 1932 overall, although in gem MS-65 condition both are rarer than the 1931.

In terms of appreciation over the past 10 years, the 1931-P has risen from a Jan. 1997 MS-63 CDN bid of $18,000, to a current CDN bid of $55,000, a 205% increase. In MS-64 they have increased from a Jan. 1997 CDN bid of $24,000, to a current CDN bid of $70,000; a 190% increase. Gem MS-65’s have appreciated from a Jan. 1997 CDN bid of $47,500 to an $85,000 CDN bid today, an increase of 79%. Although current CDN bid does not reflect this, I personally sold a MS-65 coin in the past year for $100,000 wholesale and have witnessed another trade for slightly more.

#4) 1920-S:

The 1920-S double eagle is a classic rarity. The original mintage of 558,000 coins was never widely circulated and it is apparent that most were melted by the government in the 30’s. No group or hoards have ever been discovered and this date does not appear in any groups of coins discovered in Europe. As such, it has been recognized as a rarity as far back as the 1930’s. The PCGS population in mint state is only 46 coins, the NGC population is 49. The vast majority of coins graded are in the MS-60-62 range.

When available, 1920-S is usually weakly struck with mediocre luster. It can be a challenge to find an attractive coin. This date has appreciated in value in all mint state grades over the past 10 years. In MS-63 quality, CDN bid has gone from a Jan. 1997 level of $35,500 to a current CDN bid of $71,000, an increase of roughly 100%. In MS-64, they have risen from a Jan. 1997 CDN bid of $55,000 to a current CDN bid of $135,000; a 145% increase. Gems trade very infrequently, however MS-65 CDN bid has risen from $75,000 to $150,000 in the last 10 years. It is likely that if an MS-65 did appear for sale that it would garner at least $200,000. The most recent MS-66 example sold was out of the Morse sale in November 2005 where it brought $517,500.

#3) 1921:

The 1921 is another classic rarity in the Saint Gaudens double eagle series. Few dates inspire such zeal in collectors. Most of the original mintage of 528,500 coins seems to have been largely melted, as evidenced by the small number of coins left surviving today. While it is probable that a small number of coins made it over to Europe, very few coins have appeared from that source to date. In terms of overall rarity, the 1921 is very similar to the 1930-S, except in grades above MS-63 where the 1921 is significantly rarer. In fact, one could argue that the 1921 is the hardest date to obtain in gem condition in the entire Saint-Gaudens double eagle series.

In Uncirculated grades, the PCGS population is 46 while the NGC population is 45. The vast majority of coins graded are in the MS-60-62 range. When found, 1921’s typically have an average strike with soft satiny luster. This date has done exceptionally well over the last 10 years with MS-60 graded coins rising in value from a Jan. 1997 price of $25,000 to today’s price of $85,000, a 240% increase. Similar results have occurred for MS-62 grade which have climbed from $45,000 back in 1997 to a CDN bid of $145,000 today. This represents a 222% increase. In MS-63 condition, CDN bid has risen from $51,000 in Jan. 1997, to today’s CDN bid of $200,000, a 292% increase. On that note, an MS-63 recently traded in the October 2006 Heritage sale for $218,500. This represents an increase of roughly 330% over 1997’s levels.

#2) 1930-S:

The 1930-S stands out as an important rarity. The original mintage of 74,000 coins was never released into circulation and was then sub sequentially melted. It is therefore likely that the only surviving coins were obtained directly from the mint in 1930. The 1930-S is one of the greatest rarities in the Saint-Gaudens series with fewer coins surviving in all grades than any other date aside from the famous 1927-D. While none were released in circulation, PCGS and NGC show a combined 2 coins graded in AU-58 condition. The remainder of the mint state population shows 38 coins graded by PCGS and 15 coins graded by NGC.

The majority of the coins graded are in MS-63-64 condition. When encountered, the 1930-S usually shows an adequate strike and soft luster, although bagmarks tend to be prevalent. As with the other dates on this list, the 1930-S has appreciated substantially in the last 10 years with MS-63 examples rising from a Jan.1997 CDN bid of $28,000 to $94,500 presently. This is an increase of roughly 240%. It is a similar result for the MS-64 grade which has risen from a 1997 CDN bid of $32,000 to the current CDN bid of $130,000. This represents an increase of 306%. Gem MS-65’s have shown similar appreciation.

#1) 1927-D:

This is it, the king of series as well as being the rarest 20th century US gold coin struck. Although pages could be written about this date, I will try to give you an abridged version. Out of the original mintage of 180,000, only 10-12 coins survive, with the rest being melted by the US mint. Current population data by both grading services support this as there are only 7 coins graded by PCGS and 5 by NGC. When seen, the 1927-D is well struck with excellent luster. In fact, only 2 of the coins graded are below MS-65 quality.

Out of the 10-12 coins estimated to survive, 3 are in the Smithsonian. This leaves at best 9 coins that can obtained by registry collectors. Prices for the 1927-D Saint-Gaudens have skyrocketed in the last 10 years with nearly any example bringing over $1,000,000 dollars. In Jan. 1997 CDN bid for MS-65 grade was $375,000. Current CDN bid is now 1.5M. The finest example graded is the Morse coin (PCGS MS-67) which sold for 1.89M, back in November 2005.

Put More Money In Your Pocket - Collect Coins!

People have been collecting coins almost ever since the first coin was put into circulation. Coin collections come in a wide variety of types and in a huge range of value, from less than circulation value to priceless.

Not surprisingly, collectors range from the casual collector, the one who glances at his or her handful of change to see if there are any special quarters, to serious collectors who will spend thousands of dollars to buy a specific coin in order to complete their collection.

Coin collecting as history

One of the great things about coin collecting is that the history of most civilizations can be traced through their coinage. Modern states especially have the habit of depicting important cultural or political events on their coins. Older coins show the progress of technology, as the first crude coins made from gold, silver and bronze have developed into today's refined pieces of art.

Coin collecting as a hobby, as opposed to just a means to collect wealth, first developed during the Renaissance. One of the greatest figures in the Renaissance, Petrach, was known to have included coins in his art collection, recognizing the beauty they possessed. Coin collecting as a hobby soon spread to the wealthy and church leaders, which is why it is often known as the 'Hobby of Kings'.

Various types of coin collecting

Most coin collections start when a prospective collector comes across a unique or interesting coin in the course of receiving change. For that reason, the most common collections are those that focus on the domestic coinage of the collector. A collection that focuses on the coins of one specific country is just one type of coin collection. Some collections focus on specific trends or styles.

Some more focused collections will even just focus on a specific type of coin or series within a country's coins. For instance, a coin collector could try to collect every state quarter that the US mint produces, or a penny from every year in the history of the United States.

Another variation in coin collecting is the value of the collection. Coin collecting can be quite inexpensive, or outrageously expensive. For some collectors, the hobby is simply a matter of collecting the coins that they come across through standard circulation.

This is would definitely be on the inexpensive side of the scale. However, other collectors will seek out rare and hard-to-find coins. As a result, they can end up spending very large sums of money. In the end, what this means for a prospective hobbyist is that coin collecting is a varied hobby with options and methods available to collectors on a variety of budgets.

How much is a coin worth?

The value of a coin in any collection will be influenced by a range of factors, such as the country of origin, the production date, the length of time the coin was in circulation (or if it was even in circulation), and most importantly, the condition of the coin. Obviously, the better the condition of the coin, the more valuable the coin will be.

Within this laundry list of factors, collectors will come across coins worth anything from less than a cent to rare coins that are valued at over a million dollars!

If you have a coin that you think might be valuable, the best thing you can do is to get a price guide. These guides will be readily available at any large bookstore or hobby store. A number of websites also keep updated directories of coin values.

If you do not trust your judgment in appraising the condition of your coin, most coin collection stores will offer appraisal services, for free or a nominal cost, that will give you an expert opinion on the value of your coin.

Grading a coin

As discussed above, the most important factor in evaluating the value of a coin is its condition, or 'grade'. New collectors can be overwhelmed by the number of different grading systems in use around the coin collecting world. The best way to learn how to grade coins is to try it yourself and then talk to professional appraisers at your local coin collecting store or hobby group to see what they think.

Coin collecting resources

Since it is one of the most popular collection hobbies, there are endless resources for individuals interested in coin collecting. Coin collectors have huge conventions in major cities. These are great events to attend for new collectors, as you will be exposed to more experienced collectors, who can help show you the ropes.

It will also give you the opportunity to view rare and beautiful coins that at this point you could only dream of having in your collection. It is also a good idea to join coin collecting groups on the Internet, to keep you busy between conventions.

Identifying US Coins with Bullish Futures

Okay, let’s get something straight… I do not advocate the purchase of United States coins strictly for investment purposes. Like most traditional collectors, I believe coins are to be primarily appreciated for their artistic beauty, historical connections, and the joy of pursuing them. However, it should be no secret that a significant number of us do add to our numismatic holdings while simultaneously peeking at the payback angle, too.

In truth, there are probably substantial numbers of traditional collectors who prefer to acquire coins destined to increase in esteem and value over time; treasured heirlooms and a source of pride to be passed from one generation to the next. On the flip side of this equation, it seems implausible that anyone would buy a coin with the hope or expectation to see it stagnate or decrease in value. Indeed, any commentator who suggests the words “investment” and “coins” should never appear in close proximity to one another is ignoring a heavily populated segment of our hobby.

Now that we’ve established that it’s not numismatic heresy to seek coins with strong upside possibilities, let’s get down to basics. The guiding principle is simple: Any coin that has demonstrated solid, consistent gains over a long period of time is likely to show continued growth in the years ahead. Easily said, but as we shall soon see, not so easily put into practice.

So exactly how does a one identify coins with a potentially bullish future? The best clues are revealed by analyzing the retail value trends over a long period of time for a given coin. Observing current prices alone does not yield enough information to correctly evaluate prospective price movements. What was the coin selling for two or three years ago compared to today? Dig deeper, and find the market price for the same coin 5-10 years ago. While you’re at it, get something from 20-30 years or more in the past, too. The more good data researched, the more reliable will be your final conclusions. Now whip out your spreadsheet and chart the numbers, or compute annualized rates of return. Flat or negative trends are bad. Positive trends are good. Steep positive trends are best. Any coin displaying a proven annualized growth pattern of at least 5-10% over a span of many years qualifies as an attractive option for the collector desiring coins headed for much higher price levels a few years down the road.

During the course of my lengthy numismatic career, I’ve researched the long term value trends of most collectible US coins. Thanks to my trusty computer, I’ve calculated annualized compounded percentage return rates and honed in on a handful of coins that have consistently beaten the overall coin market averages. Unfortunately, the blue-chippers are scarcely encountered. Perhaps it is this fact that explains why so many well-intentioned hobby purists scorn the idea of blending coin collecting with the profit motive.

Individuals whose objective is to satisfy their numismatic pleasure by assembling a collection certain to be the envy of tomorrow’s collectors must do their homework today. Remember to research historic value trends and evaluate growth potential based on previous performance. One last word of advice… never loose sight of the fact that you are handling artifacts of America’s past, and that all of us are merely their temporary custodians. Respect these coins and the history they represent, and you’ll always discover new avenues of adventure not found in most other investment opportunities.

Can You Earn Any Cash Investing In Coins

You may have heard that investing in coins and selling them at a higher price is a good way to finance your coin collecting hobby and make a little money while you are at it. While this sometimes will work out, coin collecting as an investment is not without risks.

You cannot expect to buy just any coin and have people begging to take it off your hands at a tidy profit for you. You need to watch out for fake coins, it is all too easy to be taken in and purchase a counterfeit coin. It is always wise to be up on your coin grading skills before purchasing any expensive coins you want to sell and always be aware of the market as it can rise and fall faster than you may realize.

Anything you invest your money into will have some risk involved. Coin collecting can be a fulfilling and rewarding hobby but if you want to make a profit from your coin buying you need to be prepared for this risk. Make sure you do enough research on the coin you are considering. If you do not have enough knowledge please seek the advice of a coin collecting professional before sinking a bunch of money in something. You can buy a fake coin all too easily if you do not have the proper knowledge.

Counterfeit coins that have been altered are not uncommon. Even the pros with many years experience can sometimes be fooled by some of the better counterfeits. Less than honest people may alter a common coin by adding a mintmark and make it look real to boot. If the coin has been certified by one of the major graders this should go a long ways in easing your mind. In the absence of a professional make sure you have enough knowledge to accurately judge the coin.

The value of a coin is often marked with a certain grade. You must know if this grade is correct. Things like whether the coin has been cleaned and how much wear it has will affect the grade of the coin. Remember whatever grade the coin has been assigned is just an opinion. Sometimes the graders do not always agree on everything so go with someone you respect and trust.

The coin market is no more stable than the stock market in many ways. You can buy a coin and have the value fall by the time you get ready to sell. This means you have the chance for big time gains or big time losses.

You may want to buy the coins you have been wanting and hold on to them for a while and when you get ready to sell them they might be worth more than you paid for them. Investing in coins could finance your coin collecting hobby if you do things right.

Determining Rare Coin Value

If you've taken up coin collecting, coin value is probably going to be one of the things you want to know about the rarities (and maybe not so rare items) that you've found. Determining the value is something that many people enjoy looking into, and there are a few ways to find out whether the one you've found is an old rare coin or just something a little more unique than others.

The first place to start looking into coin value and prices for collectible coins is a coin collecting guide. There are so many of them in the world that there isn't one general book to cover all the old rare ones, the silver coin sets, and all sorts of other types of coins out there.

However, there is a collecting price guide geared to a specific type of coin, such as those for us collectors or those interested in old rare coins.

A way of tracking down which collecting price guide might be good for you is as easy as plugging in the type of coin that you want to determine for it's and add "coin collecting price guide".

The searches that returned to you will most likely direct you to the exact collecting price guide you need for coin value of that rarity you have in hand.

Auction sites and other websites are an ideal way of determining coin value. You can find many sellers who sell and buy coins on sites like Ebay. If you notice the prices that people are asking for coins or selling their coins, you can get a better idea about their value and rarity.

Before you try to determine your particular coin value, though, find out its actual value so you can be sure to set it at a reasonable price for both you and the buyer.

Determining coin value through reputable collectors or rare coin dealers is probably the best idea of all, if you believe that you've got some old rare coins in hand or have come across some Celtic ones you think might be valuable.

Reputable dealers should show interest in evaluating coin value more than trying to buy it from you. If you have the sense the dealers are trying to help you offload your old rare coins, you can bet that you have some valuable ones. Visit a few of the dealers available to see whether you're getting a similar value from each.

Professional and beginner collectors alike need to stay informed about the coin value of each piece in their collection. As times change, there is a chance that the value of some of your coins might go up or down in price.

With updated collecting price guides and the advice of knowledgeable dealers, you can continue to keep a record of how well your collection has retained its value.

Becoming a Coin Collector

Being a coin collector doesn't necessarily mean that you collect old rare coins from around the world. A collector could simply be a person that collects them in a jar around the house. If you look at those coins, though, you will likely find a wide array of dates. By doing this, you might become interested in becoming a traditional coin collector other types of coins.

Becoming a collector isn't going to make you rich. You'll probably never land on a stash of old Roman or Celtic coins that will bring you fame and fortune. If you want to get into coin collecting, do it for the pleasure of hunting down increasingly rare or unique ones.

Some people focus on collecting coins created in a limited edition that are new in the marketplace. Others focus on specific types of coins, such as old Canadian or silver coin ones.

A collector needs a few tools of the trade. A magnifying glass to examine details on each of them is one. Envelopes or albums to store and display the ones you have are other supplies to purchase. A coin collecting price guide that has information on dates, varieties, and grading guidelines is a smart addition.

A plastic ruler that has both millimeters and inches for measuring them, cotton or latex gloves for handling, a soft cloth to set them on for viewing, and good lighting round out the list of supplies.

Starting your hobby of being a coin collector involves hunting down new ones. There are plenty of places to find them for your collecting. Root in your own wallet (and everyone else's who will let you examine them for less-common ones).

Look at the ones on display at flea markets and auctions. The internet is a great resource for buying, selling, and trading coins. Always keep your coin collecting price guide handy when shopping to avoid scams or paying too much.

If you are not a professional dealer, do not clean your collection. Using the wrong method to clean them can damage some of the old rare coins and reduce the value of your collection.

Dirty coins are perfectly acceptable when you are a collector. If, however, you want to clean those that have no particular value, you can simply use warm water and dishwashing liquid to give them a shine.

Read as much as you can on your new hobby. A good coin collector learns what makes it valuable and be able to recognize those old Roman coins for more than the symbol stamped on them.

As you grow proficient, you'll be able to let go of most common ones and focus on old rare ones instead. If you have children or grandchildren, pass those ones down to them. Who knows; you may just have created a new coin collector!

Finding Coins Worth Collecting The Low Tech Way

Might think you would like to start a coin collection. Although you would like to give it a try you may not be sure your interest is high enough to justify investing a lot of time or money into this hobby. This article will look at some creative ways to get started with coins worth collecting without spending a lot of money. There are just a few things you need to get started with this low-tech coin collecting method. The main thing you need is the desire to start collecting coins. Once you decide you will give coin collecting a try always be on the look out for that next great find. Once you get something to store your coins in you will be ready to go. Be careful as this hobby can really grow on you if you are not careful. Perhaps you have a friend who collects coins or possibly you just think it may be a neat hobby. The reason you decide to start a coin collection does not matter as much as the fact you have decided to get started. Since we are going low tech you will not need any special equipment. A good eye and something to keep your coins in will get you started. You will find old coins all over the place once you start looking for them. You might even have that first collectible coin in your pocket. Do not worry how much your coins are worth at this point; the main thing is to be on the lookout for coins worth collecting. Some good places to get started looking for coins worth collecting could be as close as your local store. The next time you get any change take a quick look at it before you put the change away. The local flea market may have some coin dealers you can buy a few coins from. Getting to know the guy behind the counter at your local coin shop can be helpful. Often the coins you will want to get started with are ones that do not hold as much value as some of the more collectible pieces. Your local coin dealer can help you out with lots of good advice. Find something to keep your coins in and you will be ready to start collecting. Your storage container does not need to be anything fancy to start with. Some sort of box will get you started. The main thing is to get started. This low-tech coin collecting method is not fancy but it will get you started finding coins worth collecting without a lot of trouble. If you find coin collecting enjoyable and decide to keep going it will be time well spent

Cautions for Coin Price and Value

Coin collecting industry, many hobbyists often pay more for one than what the coin price is actually worth. This is because they do not do the proper research about a particular price before purchasing it.

In today's world, with the internet and information at your fingertips, you can find a long list of coin collecting tips that will help you make decisions about it's price, value, and authenticity. Since old rare coins are an investment, it is a good idea to make sure you are buying authentic products.

One trusty resource that you'll need is a collecting price guide. It can help you figure out the grade of your coins, and also give you a good idea of coin price and what dealers are asking for all sorts of coins, from old rare to Celtic ones and anything in between. There are many different types of collecting price guide, some focusing only on specific monies, such as President coins or US coin prices.

One way of determining coin price is to avoid getting excited over what looks like a deal or bargain and carefully shopping around to compare prices of the same one elsewhere than the location you found it. Comparing prices will give you a good idea of the going rate as well as finding out whether the asking price is inflated or seriously undercut.

In either case, keep your money in your pocket and don't fill someone else's. The chances are that a price set too high or too low is a case of fraud waiting for someone to bite the bait.

The condition of a coin also plays a major role when trying to determine the actual coin price of the item. If you are relying on pictures and other images to determine the condition of old rare coins, you stand a chance of being swindled.

Be careful if you decide to purchase your coins over the internet. When you read advertisements about their condition and price, be sure to read the fine print and look for hidden meanings or possible loopholes in the words that are used.

Dealers you do business with should be ones that are members of the Professional Numismatists Guild (or PNG). Guild members of the PNG need to uphold certain requirements to maintain the PNG stamp of approval and focus on honest dealing with both buyers and sellers. The coin price of a PNG guild member is probably a fair one.

Many professional websites provide good collecting tips for the beginner in this hobby. Informing yourself about coin price and value, as well as carefully reading all the collecting tips is important to make sure that the price you pay isn't one surrounded by a scam.

Coin collecting is an investment of your money in money, and as such, is a serious business and should never be taken lightly.

Coins to Own Now for the Regular Coin Collector Part I

I am often asked what coins should the common collector own. If you are like me, and most coin collectors, I cannot plunk down 7 figures for a coin. Heck, I cannot afford 4 figures for a coin. Yet most of us have a desire to see our collection grow in value. While I get enjoyment in owning thousands of common wheat cents, Indian Head Cents, Walking Liberty Halves, etc. The harsh reality is that many of these coins will not appreciate in value at a significant rate, if at all. So, what is a regular collector to do? First, I collect for the enjoyment of the hobby. While I will attempt to identify coins that most of us can afford that will likely increase in value, it should be noted, past history of coin price movements is NOT an indicator of future performance. Ideas put forth in this article are not a recommendation to buy or sell and you should conduct your own research.

With that disclaimer out of the way, what coins do I believe are poised to increase in value? In this article we will concentrate on the 1909 VDB cent. It was nearly 100 years ago that the now much maligned Lincoln Cent began its remarkable 100 year journey. The Lincoln cent has endured longer than any other coin. Incredibly, over 400 billion of them have been produced. That is well over 1000 pennies for each man, women and child in the US. It is the coin that most collectors are familiar with and that most collectors began their collections with.

While most of us will not be able to afford a 1909 S VDB, the 1909 S is within reach for many of us, but at $100 or more for a low grade 1909 S, it is still a chunk of change. The 1909 VDB is often overlooked in the series. Mostly because there were nearly 28 million made, there is ample supply for the collecting public, or is there? Over the last few months, retail prices for common grade 1909 VDB Lincoln Cents, has been going up. In the December, 2006 issue of COINS magazine, a 1909 VDB in XF-40 condition had a reported value of $8.50. In the August, 2007 issue of COINS magazine, the same coin had a price of $11.00. In the latest issue, October, 2007, the value is now $14.00. I believe there are two reasons for this. First, there are more and more Lincoln Cent collectors that are buying up the earlier dates. The second reason is that speculators are speculating that in 2009, when the US Mint will celebrate 100 years of the Lincoln Cent, demand for any 1909 Lincoln Penny will skyrocket. As you may know, in 2009, the Lincoln Cent is due for a major overall (LINK to changes). As dealers attempt to put together 100 year sets (1909 VDB and 2009 VDB), demand for the 1909 VDB cents, in any grade may push prices much higher.

With the retail price of a XF-40 1909 VDB now $14.00, this is a coin you probably can afford. If your budget is larger, you can look at higher grade coins such as BU RED coins. I will emphasize RED coins here as red/brown or just brown BU coins will likely not be as highly desired. The reason I think the RED ones will be hard to come by and increase in value is the same as stated before. Dealers will want to pair up a 1909 RED coin with a 2009 RED coin. A 2009 RED with a 2009 brown just will not cut it. Many dealers are offering RAW 1909 VDB RED coins at well below $100. Be sure to check with the dealer though as you do not want a scratched up coin.

If you want to avoid this problem, you can always go after the certified version of the 1909 VDB. Certified 1909 VDB coins are available in many grades. Like the raw coins, I believe the value of these will go up as well. If you want to stay in the “regular collector” space though, you can consider buying rolls of 1909 VDB cents. Be prepared to pay several hundred dollars for a roll of these coins. It will cost much more for a higher grade roll.

The year 2009 will be an exciting year for the Lincoln Cent. The lingering question is, will this be the last year of the Lincoln Cent, or event the last year of the cent all together? That remains to be seen.

Investment in Gold bullion coins

Silver bars have emerged as popular silver investments because they are uniform in size, making them easy to handle and convenient to store. Additionally, silver bars are compact, which enables investors to secure a

great deal of wealth in relative small storage areas. Silver bars with recognized hallmarks are readily accepted for resale, making them easy to convert to cash.

Palladium bullion bar and coin investors have few palladium investment choices today. When palladium spiked to $1100 in late 2000, most palladium investors sold their bullion coins and bars into that rise and exited the market. During the ensuing years, the demand for small palladium coins and bars was so small that most mints quit producing palladium bullion coins

and private refineries ceased making palladium bullion bars.

Because it was industrial buying that send palladium soaring-and not palladium investors-nearly all palladium bars and coins sold in 2000 ended up being melted. Now, though, palladium bullion bars and coins are being produced to meet renewed palladium investment demand.

Popular forms of palladium for investment are 1-oz Credit Suisse and 1-oz PAMP bullion bars, both of which are refined in Europe. In late 2005, the

Royal Canadian Mint began striking 1-oz Palladium Maple Leaf coins, which could prove to be investor favorites for palladium investments. Although Credit Suisse and PAMP are respected names in precious metals refining, many investors prefer coins produced by government mints.

Platinum bullion and coin investors do not have a large selection of platinum coins from which to choose. Yet, the platinum bullion coins available come from the most prestigious mints in the world. Platinum Eagles are produced by the U.S. Mint, Platinum Maple Leafs by Canada's Royal Canadian Mint, and Platinum Koalas by Australia's Perth Mint. American Eagle Gold coins are a Good collectables and are considered a good investment option. Another Kind of famous gold coin is the American Buffalo Gold Coins. It is always advisable to buy Gold coins when the gold prices are reduced. Do not get attracted and buy Gold coins when prices are at soaring. It may prove to be a bad investment if the prices fall back.

Author Bio - Inventory of Coins and Bullions Include many types of Bullion Coins like American Gold Eagles, Gold Bullion Coins and bars. In the future, coins and Bullions will expand by including jewelry and gift items.

Did You Know There is a New Dollar Coin for 2007

New $1 coin is being introduced as a result of the Presidential Coin Act of 2005, which requires the United States Mint to mint the dollar coins commemorating the service of former United States Presidents in the order in which they served. In 2007, the United States Mint will begin production of this dollar coin for circulation. Set to be released around President’s day 2007, will be a new dollar coin with George Washington. Also in 2007, we will see a dollar coin with the next three presidents which were John Adams, Thomas Jefferson and James Madison. This release schedule is similar to the State Quarter program. About once a quarter, we will see a new design. Like the State Quarter program, the reverse of the coin will stay the same. The reverse of the dollar coin will feature the Statue of Liberty, the slogan “The United States of America” and a one and dollar sign to signify its value of 1 dollar.

The new coins will be the same size as the existing Sacagawea dollar coin and will be the same gold color. It will be made of a copper-zinc-manganese-nickel clad copper alloy. The surface of the coin will be treated a little differently to slow the tarnishing process which was a big criticism of the Sacagawea dollar coin. The Sacagawea coin color was changed in an attempt to answer criticisms of the Susan B Anthony Dollar which people confused with a quarter.

Unlike past coins, the obverse will not bear the familiar “In God We Trust” or the date of the coin. Instead, the issue year, mint mark and motto will appear in the edge of the coin. Edge lettering has not been tried on an American coin since 1933. With the lettering now on the edge or side of the coin, the portrait on the obverse will be a little larger than normal.

The new coins are expected to be popular with collectors. The State Quarter program introduced a whole new generation to coin collecting and brought non-active collectors back into collecting.

By law, only those presidents who have been dead for two or more years can appear on a coin. This makes it likely that Bill Clinton and George W Bush will not appear on the coin as they will likely still be alive when there turn comes about. Ronald Reagan, who some people have been pushing for to replace Roosevelt on the dime, will now show up on a coin, assume Ford and Carter die two years before their turn. Presidents who you would never think would ever appear on a coin will now get that chance.

An interesting fact is that Grover Cleveland will show up twice as he served two terms but they were not consecutive. Additionally, George Washington will appear on the new dollar coin, the quarter and dollar bill all at the same time. When Thomas Jefferson has his turn, he will appear on the dollar, but also the current nickel and the two dollar bill. Yes, the two dollar bill is still being produced.

Below is the timeframe for the release of the new dollar coins.

Year President Years Served

2007

1 George Washington 1789-1797

2 John Adams 1797-1801

3 Thomas Jefferson 1801-1809

4 James Madison 1809-1817

2008

5 James Monroe 1817-1825

6 John Quincy Adams 1825-1829

7 Andrew Jackson 1829-1837

8 Martin Van Buren 1837-1841

2009

9 William Henry Harrison 1841

10 John Tyler 1841-1845

11 James K. Polk 1845-1849

12 Zachary Taylor 1849-1850

2010

13 Millard Fillmore 1850-1853

14 Franklin Pierce 1853-1857

15 James Buchanan 1857-1861

16 Abraham Lincoln 1861-1865

2011

17 Andrew Johnson 1865-1869

18 Ulysses S. Grant 1869-1877

19 Rutherford B. Hayes 1877-1881

20 James A. Garfield 1893-1897

2012

21 Chester A. Arthur 1881-1885

22 Grover Cleveland 1885-1889

23 Benjamin Harrison 1889-1893

24 Grover Cleveland 1893-1897

2013

25 William McKinley 1897-1901

26 Theodore Roosevelt 1901-1909

27 William H. Taft 1909-1913

28 Woodrow Wilson 1913-1921

2014

29 Warren Harding 1921-1923

30 Calvin Coolidge 1923-1929

31 Herbert Hoover 1929-1933

32 Franklin Delano Roosevelt 1933-1945

2015

33 Harry S Truman 1945-1953

34 Dwight David Eisenhower 1953-1961

35 John F. Kennedy 1961-1963

36 Lyndon B. Johnson 1963-1969

2016

37 Richard M. Nixon 1969-1974