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

How To Value Collectible Coin

Coins have been always been a part of our country's history. Prominent people are featured on them. A change of government is sometimes accompanied by a change of currency. The look and feel of these coins reflects the advancements in technology as scientists find more complex metal combinations.

Coins being of historical value is one of the many factors why people collect them. Beauty and variety also contribute to the collector's growing numbers.

To be a collector, you must be aware of how to ascertain the worth of your coins. Who knows, you might just be holding on to a very rare artifact, or one that would cost millions on an auction or bidding.

First step in being a coin collector is to look up literature. You need to be in the know of what coins are available out there, where to get them and how to get them. This is extremely valuable to one who'd see the coins as a form of investment.

You also need to determine four things before you take a coin to your collection. You need to identify them, have them authenticated and examine them for damage. This would be vital points to consider in collection coins.

To identify them, you need to look at your coins very thoroughly and note the shape, the colors, and the writings. You also need to verify which country issued that coin. If there is no denomination on the face of the coins, it's just a token or probably a medal.

Authentic coins should be treasured and prized. They're hard to find, especially if they are rare, limited issues. A lot of fakes and counterfeit coins are available in the market, so beware!

The value of your coin will depend upon its grade. Coin catalogs usually have their own, specific grading guidelines but here's a general list of them.

* Mint State Perfect Uncirculated (MS-70) is an uncirculated coin. It should show no apparent damage and be in top shape. It is considered to be the best quality of coin possible.

* Uncirculated (MS-60) is another uncirculated coin having a few scratches on contact marks and that have lost some of its sheen.

* About Uncirculated (AU-50) is a coin which has evidence of light wear on most parts but still retains at least half of its original sheen.

* Extremely Fine (EF-40) is coin wherein the coin design is lightly worn off but the features can be still distinguished and are still quite sharp.

* Very Fine (VF-20) is another coin wherein some of fine details like hair or eyebrows are mostly worn off. There is evidence of modest wear on some points of the design but all major parts are still clearly etched.

* Very Good (VG-8) is a coin wherein even though the rim is still clearly visible, the design is almost worn off and only few details of it are clear.

* Good (G-4) are coins that are heavily worn but the design and the legend are still visible. Much of the details are gone.

* About Good (AG-3) are coins that are very heavily worn that some of the lettering and the original design are not discernible anymore.

Damaged coins come across frequently in the course of a collector's quest. Most collectors steer off coins that have undergone cleaning or re-polishing. Corroded, scratched and drilled into coins are also a big turn off. Although it's sometimes hard to find one, it's better to find an untampered specimen.

The question on most beginners minds is this: How much do I get paid for a particular coin. The answer is: It varies everywhere. It depends on the qualities of the coin as well as the guide the buyer is using. For a general idea of pricing, here's a quick list.

1. U.S. wheat cents (1958 and earlier) that were in circulation goes for a few cents to 3 dollars each.

2. 1943 "steel pennies are very uncommon and of high value 1943 cents set on a normal bronze planchet. They are tested to determine if it attracts magnets and if so, it is plated using copper. They are sold for 5 to 50 cents if circulated, and up to a dollar or two if not in circulation.

3. Silver dimes, quarter and half dollars from 1964 or earlier are composed of almost 90% silver. So their amount depends on their silver content.

4. Silver dollars from 1935 and up are collector favorites and can be usually be sold for more than their value in silver . The less common the date, the higher the pricing goes.

5. Susan B. Anthony dollars are worth about one dollar.

6. Bicentennial quarters, half and dollars are usually worth what's on their face value.

7. Coins in commemoration of the wedding of Prince Charles and Princess Diana are spotted to cost from $5 to $30.

8. A coin with two heads, tails or those that have different designs of two coins have no value to collectors because they are coins that have been change to introduce a novelty item.

There are also the kinds of coins that are made by mistake. These are called 'mules' and are often produced because of an error in pairing different dies. Expect rare coins like these to cost a little higher than most.

So with these things in mind, have fun in making your own collection grow. Who knows what part of history you'll discover by finding rare specimens.

Why are Some Coins Worth More Than Others?

Many times I get asked the question of why a certain coin is worth more than another particular coin. While valuing coins is not an exact science, there are three primary factors that weigh into considering the value of a coin. There are also a few other sub-factors that we will explore in this article as well.

We will start with a less important factor that may create value. Maybe one of the biggest misunderstood items for beginning collectors is the belief that the older the coin, the more valuable it is. It is natural to think some collectables become worth more money as they become older. To some extent it is true, but as we will discover in a little bit, age of a coin is not a major determinant in the value of a coin. There are many coins only 30-40 years old worth considerably more than some coins well over a hundred years old. This is true in the same series. For example, a 1939 D Lincoln cent is worth slightly more than a 1919 S Lincoln cent that is in the same grade.

The next item to consider in the value of a coin is its condition. All other things being equal, the same coin, same date and same mint will be worth more when in MS (mint state) than in a G4 condition. This is true in all coins as well as all collectables. The state of preservation has always been a driver of value, but again, this is within same type coins. The degree at which this price/value escalates though is determined by other factors as we will see.

The scarcity of a coin is indeed a major driver of value. Just like anything, the less there is of something, the more likely its value will be higher. This is just common sense and is easy to see when comparing the same denomination of coin. For example, the 1939 D Lincoln cent used in the example above has a mintage of just over 15 million. The 1919 S Lincoln Cent has a mintage of nearly 140 million. That is quite a huge difference. In this instance, the coin that is somewhat older is not worth quite as much as a slightly newer coin. When determining scarcity, you can not look at just the mintage of the coin. You must also consider its survival rate. What is that? Well, it is the rate at which the coins produced survived over time. For example, the Pittman Act of 1918 required the melting of 270 million Morgan Dollars. Many silver dollars with decent mintages are now scarce due to huge amount that were melted. It is estimated that only 15-17% of all Morgan Dollars produced now survive. Another good example is the Buffalo Nickel. As most collectors know, Buffalo Nickels with good clear dates are not as common as one would think. The date on the coin was slightly raised which subjected it to quick wear, thus the term “dateless Buffalo Nickels”. Another great example is the 1883 Liberty Nickel. As is the case when a new coin comes out, it is hoarded by the public and saved by collectors. In 1883, the first Liberty Nickels came out without the word “Cents” on it. 5.4 million of these coins were produced and in G4 it is valued at $5.50. When it was discovered that many folks were able to gold-plate the coin and pass it off as a $5.00 piece, the Mint added the word “Cents” to the coin. In 1883, over 16 million of these coins were produced, yet this coin, with three times the mintage is worth $13.50 in G4 condition. Why? Collectors saved the first 1883 coins produced and put them away because it was a new coin and because of the belief they might be recalled. By the time the revised 1883 coin came out, there was little notice by the collecting public and these revised coins went into circulation and probably had a lower survivability rate.

While all these factors can determine the value of a coin, the biggest factor in determining the value of a coin is quite simply collector demand. This factor is without a doubt the biggest factor in determining the value of a coin. Demand for key date Lincoln cents has always been huge. This is due to the fact that most collectors began collecting Lincoln cents. As an example, the 1909 S VDB, with a mintage of 484,000 is valued at $750 in G4 condition. The 1879 Shield Nickel with a very low mintage of 29,100 is valued at $415 in G4 condition. This despite the fact it is an older coin, a larger denomination coin and no doubt had a low survivability rate as compared to the 1909 S VDB. The 1909 S VDB was sought by collectors immediately upon its release. It was immediately recognized as being scare due to the “VDB” initials being removed from future coins. The survivability of this coin is quite high compared to the Shield Nickel.

What then creates demand? Demand is created by several factors and is somewhat driven by scarcity. As more collectors enter the field, certain key dates will continue to rise in value as demand increases. Some denominations are collected more often than others. As previously cited, there are far more Lincoln Cent collectors then there are Shield Nickel collectors. Washington Quarters have seen a rise due to the State Quarter Program. Another factor in determining demand is coin related publications that highlight a certain coin. A coin that may have been increasing in value over a period of time can be highlighted by Coins Magazine and now suddenly collectors take notice and now everybody wants this particular coin for their own.

In review, the factors in determining the value of a coin are

1. Age
2. Condition
3. Scarcity
4. Demand

As always, in coin collecting, values, grades, etc are not an exact science. When purchasing coins for your own collection, buy what you want, for the reason you want. Investing in coins as an investment is quite tricky and dangerous as coin values can change quickly.

Coin Collecting Throughout the Ages

Coin collecting, or numismatics is a hobby as old as time. As a hobby, it has been around for more than 2,500 years. This is surprising since the use of coins has been around for pretty much that same amount of time too. Man has always had a fixation for small, round, shiny things. And throughout the ages, coin collectors have always been on the prowl for the oldest, rarest, most attractive coins around.

Numismatics comes from the Greek word nomisma, meaning ‘currency,’ or coin. It is also related to the study of banknotes, tokens, and other early forms of money.

Coins and other forms of money are issued by governments and other monetary agencies. Billions of these flood the market yearly. But as time goes by, the number of these coins go down. Some get lost and some are damaged beyond recognition.

This goes to show that the older the coin, the rarer it must be. And for coin collectors, this is prime stuff.

Coin collectors and hobbyists number millions around the world. This hobby is taken so seriously that there are even professional dealers and investors who ply their trade in this fashion.

The lure of coins lies in its power to draw people into the era it belonged to. These coins show many aspects of everyday life during those times. By examining a coin, one comes to know the geography, philosophy, sociology, artistry and other aspects of the culture they existed in.

Ancient kings (and even today’s leaders) had a telling habit of having their faces imprinted on their currency. Some historians have been able to put together clues regarding the ancient civilizations using these coins. Sometimes, coins would tell of a leader or prominent figure that would have been forgotten by time if it were not for these coins.

Hobbyists usually start collecting coins from their own locality. This makes sense because they are the easiest to collect. These hobbyists then expand their collection to coins from increasingly farther and earlier origins.

Coin collectors regard every single coin as a unique specimen. They take note of the date, the mint marks, and even the abnormalities in its design. Ironically, some of the most expensive coins are those with the strangest abnormalities. This is because this type of coin is hard to come by.

For example, there could be a coin in existence that differs from other coins in its batch. For some unknown reason, it lacks some of the required markings. Such coins are deemed more valuable than the normal coins of its type.

A good number of coin collectors collect coins according to themes. The coins they collect all have a common topic. Some collect coins related to kings and queens. Some collect those related to plants and animals.

The price for a coin is determined by the demand for this coin. Many factors affect this demand. If a coin is rare, chances are, it is in great demand. However, there are some coins that are rare, or exotic, yet the demand for them remains low. If this is the case, then its market value will remain in the low end.

Before purchasing coins, one must do much research about that coin. He must assess its current market value and make sure that the coin is genuine. He should also consider how much he could earn if he resells the coin.

The American Numismatic Association is the largest numismatic organization in the world. It was founded in 1891 and was chartered by the Congress of the United States 21 years later. This group has the largest library of coins available. Collectors would love to visit their headquarters, the World Money Museum, which is one of the largest coin museums in the world.

Another organization, the American Numismatic Society, is the most active and respected nonprofit numismatic publisher in the world. They maintain a museum that contains more than a million objects. They also have a library that has one of the most comprehensive in coin collecting knowledge.

Whether you are a hobbyist or a serious collector, coin collecting will always bring a sense of fulfillment and history to your life. It is never too late to start collecting today. You can’t lose! Your collection can only grow in value as the time passes by!

Rare Spanish Coins Found in Ship Wreck

Spanish galleon Nuestra Senora de Atocha, struck a reef and sank on September 6, 1622, during a raging hurricane near the Florida Keys. Mel Fisher and his company discovered the main wreck site on July 20, 1985 and ultimately recovered over 160,000 silver Spanish colonial coins. The Atocha has the distinction of being the richest Spanish treasure galleon recovered to date.

1. Exceptional full cross with lions and castles struck in high relief, equally beautiful full shield with bold mint and marks P and T. Deeply struck on a thick compact disk of metal.

2. Beautiful and nearly full weight coin struck during the 5th and last period (1596-1605). These coins show variations in the border between the legends and inner details that include a border of x's, squares, rectangles, and diamonds. This is a top end Atocha coin with a full cross and shield, bold mintmark, bold assayer mark, bold denomination mark, and a nearly full kings name that appears twice due to some doubling on the strike.

3. Nice full cross with castles and one lion visible, equally nice shield with a nearly full crown and visible mint, assayer, and denomination marks. Struck on a very large heavy planchet. A very nice, nearly full weight coin.

4. Struck on a very large diameter heavy planchet, full cross and shield but with light details throughout. This coin was struck between 1586 and 1589, the time period of the defeat of the famous Spanish Armada. Rare find from this wreck.

5. Nice cross with light corrosion near the bottom. Full shield with mint, assayer, and denomination marks all visible. Dated at 1619.

6. Beautifully struck full cross with bold lions and castles. Equally well struck full shield struck off center to the left causing both the mint and assayer marks to be off the planchet. An exceptional Atocha coin dated 16??.

7. Rare Seville mint mark, nicely centered full cross with well detailed castles, partial shield including the denomination mark struck sideways along the right side shield border. A very rare Atocha coin, only a hand full recovered.

Meaning of words:

Mintmark: A letter or symbol on a coin that identifies the mint of origin

Assayer mark: a mark on an article of trade to indicate its origin and authenticity

Denomination mark: One of a series of kinds, values, or sizes, as in a system of currency or weights

Planchet: A flat disk of metal ready for stamping as a coin; a coin blank.

Some Ways You Can Take Advantage Of Some Little Known Tactics To Buy Collectibles On eBay

One of the great things about the internet and with eBay in particular is that due to the company being in existence in almost every corner of the globe you can find some very unique and interesting items that cannot be found in any other place. The key to finding collectibles and being able to buy them at a decent price is to take advantage of some little known tactics that many people don't know about.

One way to keep up with items that you are particularly interested in is to find the category on eBay and then add it to you favorites in your web browser so that you can easily keep up with it. Another thing that happens all the time is that sellers on eBay often make mistakes when selling an item or they may not know the real value of the item and will list it as just an average item when in fact it may actually be quite rare.

One caveat that I must offer is to not blindly believe that the description of something being sold on eBay is factual. I have seen many auctions advertise something as valuable, rare, or hard to find when they were really nothing special. Never bid on something that you do not have an idea of the value of. One thing that will save you a lot of time in your searches is to keep track of certain sellers whom you have found to always have the particular collectibles you are seeking, you can even contact them and ask them to email you if they get certain items.

Don't get wrapped up in the auction hype and think that if you don't win the item you will never have another chance. eBay is enormous and they have millions of items for sale everyday so the odds are that what you are looking for will become available again. You must never put yourself in a position of thinking that you must have an item, if you do you will end up paying too much. You must always be willing to let the item go if it brings a certain price so set a price that you think it is worth and if it goes above that you just let it go. I used to buy cars at auctions and I would have a figure that I was willing to pay for each car I bid on, if the price went above my figure I walked away and didn't look back.

Always calculate the shipping costs when you are bidding on items and if you are buying multiple products from a single seller contact them and ask them what kind of deal they will give you on the shipping or postage if you win multiple items.