Coin Collecting

Archive for the ‘Coin Collecting’ Category

There is a machine that does all the stamping work for the coins and makes it look genuine. There are people who counterfeit the coin, and they are trained well, and they can even manipulate their work in such a way that the collectors tend to believe that they are looking at the original coin, while they are actually not!

People who are good in identifying the counterfeit coins know that almost all these coins have the date altered, and they have a little difference from the original! If a person can thinks he is holding a coin that is counterfeited, then, he can check it out with the original version of the same.

If the coin is worth more than 5 cents, then, look at the outer edges, which might have corrugations. All the genuine coins have edges that are thin, and their railings are generally distinct. In case of the counterfeit coins, they have a railing that is generally uneven.

In case a person tries to sell you counterfeit coins, then, you manage to remember the face of the person whom you were dealing with, look if he had someone else helping out in the business, and manage to keep the fellow’s clothes in mind, and also get the car license plate number in case he was having a vehicle. And, after doing this, just manage to get out of his sight, and get to the nearest police station and call them for help. The United States Secret Service will be there to help you out.

There are many factors that one needs to consider to determine if the coin is counterfeited or not. The following are the characteristics that can describe a counterfeited coin:

1. These coins have dates that read a date much earlier than the date of issue by the country itself. These coins have the same features as the other coin, but then, the date is enough to tell you if it is counterfeited, or not.

2. Sometimes, the coins from a particular nation that existed several centuries back are counterfeited by another country. This does not count as forgery, because the countries get the rights to actually make use of the design that was previously used by someone else.

3. Forgery generally leads to one person’s profit, in an illegal way. Profit is the main objective for a person to counterfeit the coins. There are people who use the forgery even for a political propaganda, as in the case of Second World War, when the Germans counterfeited the currencies of United States of America, and United Kingdom

4. Producing replica coins is another method of counterfeiting. The replicas have the same features as the original, and they also have the same markings. Most of the counterfeited coins have obvious differences, but they can be noticed only by the experts. These replicas are mainly used for educational purposes, and they have ‘replicas’ written on the sides.

5. The Lebanese forgery gangs have a very huge responsibility in preparing counterfeit coins. These are used to fool the collectors, the business people, the museum, and also other countries.

6. Even though the intention of the creator of the forgery coins is to fool the collectors and the government, the values of the coin is what is seen, and they are actually accepted, keeping the other ethics at bay!

It requires an expert to identify a counterfeited coin. They know all the sources of the counterfeit, and get even the tiniest of details. A collector should be aware about all these fraud before he gets into the coin collecting spree.

Abhishek Agarwal
http://www.articlesbase.com/collecting-articles/detecting-fake-coins-a-6-step-process-to-be-followed-to-prevent-forgery-739694.html

Since you are a coin collector you are probably interested in discovering the value of your coins. Of course if you are an experience collector you already know how to find the value of your coin otherwise you should know that coins are valued according to certain conditions. If you are wondering what is the best way to go about evaluating your coin you should know that the best way would be to have a coin appraisal done by an expert in the field. Coin appraisals are essential if you want to know the real value of your coin collection.

Coin appraisals should always be performed by an expert, at least until you get the hang of it. A Good coin appraisal should inform you about the value of your different coins in your collection. The best way to go would be to have multiple coin appraisals done by different experts. The knowledge of each expert depends on is expertise in the coin collecting field. Coin appraisals are not an exact science so by having multiple done by various experts should give you excellent ideas of your coins value.

In my experience, the values of the coins you will get from those coin appraisals should be faire. For the most part these experts have been conduction coin appraisals for years and they usually have a vast knowledge of the coin grading system. They are fully aware of the various grading tactics that are usually used for different type of coins.

But I would highly suggest you gather as much information as possible about coin appraisals this would ensure in the long run that you are getting accurate information from those experts. Having as much knowledge as possible about coin appraisals would be very wise on your part, you would then be able to ascertain if you are being told of the current values of your coins according to the market. You should locate books on the matter to fully train yourself.

You should also look on the internet as there are many sources to gather information about coin appraisals. There are hundreds of site loaded with information about coin appraisals and grading techniques. Some of the information you will want to read about are the methods being used in grading the coins in collections. Being informed about the coin grading system is the best way to know if your coin appraisals are being done correctly.

The thing I would recommend the most is to have multiple coin appraisals done. You should always keep in mind that the knowledge of the expert can vary from one to another so by having multiple coin appraisals done you can have a good idea of the real value of your coin collection. Once you will have gathered as much information as possible you will be able to take a decision whether to sell or expand your collection.

Frederic Madore
http://www.articlesbase.com/hobbies-articles/coin-appraisals-discover-the-value-of-your-coins-131877.html

Collecting silver and gold bullion coins can be an investment, an insurance against market inflation as well as a passionate hobby all combined into one. Amassing silver and gold bullion coins are the easiest method for you to start owning gold and silver. Many of the bullion coin series also feature multitudes of designs, created with outstanding craftsmanship, therefore making them very desirable objects to collect.Ever since the first bullion coin is issued in South Africa in 1967, many national mints worldwide have followed suit issuing their own bullion coins series, the most popular being the British Britannia series, the Chinese Gold Panda Series and the American Silver Eagle series.

Most silver and gold bullion coins are never used in daily commerce (some bullion coins like the Krugerrand have no face value!), despite that many of the bullion coins issued today are bestowed with legal tender status in their respective country of issue, therefore making them exportable to most of the countries worldwide without being subjected to import taxes, duty or VAT. This fact makes silver and gold bullion coins a very attractive means for private gold or silver ownership. Investors often put their money in gold and silver bullion coins to balance off the effects of inflation because the value of both metals have since increase more or less consistantly for the past five years. Then again it is notable that since many bullion coin series, especially those that changes designs every year, have very limited mintage, many of them below 100,000 units per year. This results in some bullion coins fetching much higher prices on top of their market gold content due to its rarity and collectible value. Hence investors tend to look for bullion coins that have repetitive design throughout their years of issue, have substantial mintages and does not command a high premium, one such excellent example is the South African Krugerrand coin, when it was first issued, the South African Krugerrand fetch a premium no higher than 5% of its gold content, today the premium can be as less as under 1% on top of their market price of gold.

Here are some tips to start your silver and gold bullion coins collection:
1. Are you an investor or collector? This is the major factor that will influence which coins to buy and which coins to “admire only”. Furthermore, caring for rare collectible bullion coins requires more technical expertise and some considerable investment in keeping your collection in pristine condition (but well worth the price).
2. Bullion coins are not fast money earners, they are usually kept for years before even trading or reselling them. As your collection grew, investment in the safekeeping such as a hidden safe in the house or the bank deposit vault would be necessary.
3. For starters, silver bullion coins are a great idea as they come cheaper, thus you can generate an impressive collection in a shorter time (and with less budget!).
4. Focus on collecting a few types of bullion coins as starters, the marketplace can be full of counterfeit and scams, read up about the series of bullion coins you collect, knowing certain facts such as sizes, purity, designs of the coin as well as special issues (e.g. there is no such thing as a silver Krugerrand) can easily help you identify which is a deal and which is a scam.
5. When buying from your local coin dealer, take the time to check your dealer background first, are they reputable in your area? Has this dealer sold similar items before? Do they offer honest advice and friendly service?
6. When buying online, the best method is to start buying from auction first before going to individual shops, as auction website such as ebay have feedback system tracking the past sales of the particular seller, giving good indication on whether the seller provide good service, or whether they have sell similar items in the past and of course whether they provide good quality wares. And the large market place of auction websites with multitude of sellers, can give good comparison of prices of a particular coin, giving you a good grasp on how much price that this particular coin is trading at.

BlocksandModels

Maintenance Of Your Coin Collection

Some collectors have found coins that have been in existence from 1892 – 1954. The coins during this period could divulge the workings of Royalty at that time. But again, there are other collectors who go for the distinctive modern coins. There is a collection that started in 1999 and will go up to 2008. This is made with collectors in mind.

There are coins that are made of copper and this could pose a problem for collectors in terms of maintenance. Collectors who have these coins in their possession should take good care of them and the cleaning and preservation must be done in a professional manner.

Some professional collectors keep their coins clean by putting them in an airtight container. Since the coin has had many years of circulation, it could get corroded and dirt could accumulate. It is important to remove the parts that are corroded without damaging the coin.

There are special cleaning products available like MS70 that is designed to remove corrosion and dirt. It would be advisable to use rubber gloves as a protection for your skin as it can cause dryness – you can also use a toothbrush that is soft for the purpose of dirt removal. If you soak the coin and then clean it, you will find a marked difference. If the appearance is still unsatisfactory, you could try using baking soda and soaking the coins in warm water.

The coin should then be dried after soaking it – a Blue Ribbon cleaner can be used by applying a coat and leaving it for 2 days and then drying it with cotton balls.

If the coin is discolored, soak it in MS70 and use Dellars Darkener. Use the Blue Ribbon cleaner only after you feel that the coin is clean, and then put it back in your collection.

Preserving Your Coin Collection

The coins should never be exposed to the elements and care should be taken to see that there are no scratches.

Coins can be stored in pockets or cases that are designed specially for coin collecting. This is essential to keep the coins dirt free.

You can use rubbing alcohol, lemon juice or vinegar to clean coins.

If there is a great deal of dirt, you could use Tarnex if you find that vinegar or rubbing alcohol has not had much effect.

The value of the coin could depreciate if the coin has been cleaned. That is why you will need to consult experts on how to maintain your collection.

There are coin collectors who feel that the surface of the coin will be damaged with cleaning and therefore they will not clean their coins. It is important to find a way of avoiding dirt and preserving your coins in a safe manner.

Abhishek Agarwal
http://www.articlesbase.com/collecting-articles/collectible-coin-care-useful-tips-to-maintain-and-preserve-your-coins-739715.html

It is in human beings nature to accumulate things but only collectors make it their avocation. One man’s junk is another man’s treasure.

Coin collection is a serious hobby for many people worldwide. Silver coin collectors can start in childhood but only in ripe old age they comprehend how profitably they invested their money. There are different reasons for people to start their collections and we call them differently: hoarders, who gather whatever silver coins they can get hold of, investors, whose common reason for coins purchase is an investment; and inheritors, who acquire or inherit coins from another person.

Modern silver coin collecting is generally believed to have begun in the fourteenth century in Italy (known as the “Hobby of Kings”). European princes, kings and nobility used to collect ancient silver coins. They were attracted by the mystery and history of ancient Greece and Rome. The 1st denarius of Ancient Rome was made of silver. Why silver? Throughout the history, silver bullion has served as a primary monetary metal, because it is divisible, durable, convenient, has utility value.

In Russia the collecting of coins began in Peter the Great’s reign. Silver money in Old Russia was coined in four counties: Moscow, Tver, Novgorod and Pskov. Nowadays of all this money only 340 Old Russian silver coins are known to collectors.

Coin collectors begin by saving coins they receive in circulation but find interesting. Over time their interest may increase; started as a hobby, their coins can turn out to be an astounding collection.

Andrew Arto