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Collecting Coins a Collectors Guide by neil parnham
Coin collecting is something that takes time to learn. The most important thing to remember is that you are doing it for the right reason - if it is a passion, then it is something worth pursuing.
Collecting just for profit may work but it usually is not enough in the long run. A person really has to think about this since many people who have tried it for that reason have lost focus and failed.
Successful coin collectors take a lot of time to learn everything there is to know about numismatics. Good sources of information are magazines, newsletters and brokers who can pass on information and news, when it happens. By using the resources a person can act fast before other collectors who want the same thing get the information first.
If a person tries to collect without knowing the basics, he will never succeed in this hobby.
Knowing how to grade coins can also help the collector know the true value of the collection. This knowledge will be valuable if the owner decides to trade for something of greater value or it can prevent scamming and wasting money for something of little value. Be vigilant!
One of the virtues that coin collecting can teach a person is patience since the collection may take years to complete. Some of the well-renowned collectors in the world have spent many years before reaping the benefits.
Learning to think like a collector is very important. Being too eager is not good because the collector could be tempted to purchase or trade the wrong coin which could prove to be costly. Think twice about using the information given even if that came from a reliable source.
Coin collecting can be difficult especially if the person is just starting. A person, more than likely, cant afford to buy items worth more than $10,000, so it is best to start small and study the market for three to six months so that he can be comfortable before going after bigger prizes.
Coin collecting is similar to sports - it takes time to excel at it and goals, both short and long term, have to be established. By following the rules and using common sense, the person can become one of many other successful coin collectors.
Commemorative coins have become very popular. Many people want to have different kinds of coins in their collections or for souvenirs. Many times they are used as traditional gifts for special occasions. These coins are not considered to be practical gifts, bur are commemorative items that can be kept for years as special souvenirs when received by a special friend or loved one.
There is a strong demand for these coins among people who are collectors as they may have significant meaning to them. Others will want them to remember an important day or occasion. The mint date and the event celebrated by the coin could be one factor people consider them collectible items.
Since the 1970s, the individual coins were available in the market every year, but are now available as sets in packages or in special displays. Many collectors say that one reason they are marketed this way was the depreciation of their value starting in 1971. The introduction of the euro may also be a factor.
There are countries that have produce commemorative coins and used these coins for propaganda. There were monarchs who issued coins to commemorate past or current events and/or celebrations that recognized their authority.
The half dollar was produced in 1892 to commemorate the Columbian Exposition in Chicago. This was a celebration to mark the 400th anniversary of the expedition of Christopher Columbus and his discoveries in the world.
During the following year, the first quarter dollar commemorative was introduced to signify the Exposition as well, but it also gave honor to queen Isabella of Spain. She was the one who back-pedaled the political agendas on Women Rights.
The first commemorative coins that were made of silver were introduced in the 1900s. The coins were minted in honor of Lafayette and George Washington. In the following years, the half dollar coin was denominated, and the legal tender commemorative coins were created to mark celebrations rather than historical events. These coins are recognized today as classical sets of special coins of historical events between the years1892 - 1954.
It was in 1932 that the Washington quarter dollar was released as the United States second commemorative coin in its denomination. It was issued for the 200th birth anniversary of George Washington. The coin also continues its circulation as a commemorative coin because of its popularity.
It was uncharacteristic to circulate a commemorative coin of the 1892 - 1954 era in the United States because the government had not intentionally put them into circulation, (they were not legally approved by the government for public use) so collectors will not pay the premium costs of these coins that are still in the market.
In 1975, that the Bicentennial quarter was introduced. It became the second circulating commemorative coin in the country, while the silver dollars and half dollars (1776 to 1976) were reissued as a special collectors edition.
Many collectors have different agendas when collecting these coins. Some prefer commemorative coins from 1892 - 1954 while most collectors choose the modern editions. They know that these coins have different values depending on the series and/or editions.
Although there have been different series released, a proposal was submitted to congress that would mark the Lincoln cent for his birth anniversary. No one knows whether or not the 1-cent denomination commemorative coin will be minted.
The confusing part of these commemoratives that are circulating is the pattern of the denomination. The 1776-1976 commemoratives half-dollar and silver dollar may not be included in collections because of their scarcity. Most of the coins that are circulating are the quarter dollar coins. It should be an interesting development for the proposed circulation of the one cent commemorative coin.
Some people are born to love money; whether they spend it or just collect it, they are simply born to love the way money provides them the kind of gratification that they need.
For example those people who are coin collectors simply love the sight of coins and many wish to display their collections as art.
In the United States, coin collecting started as early as 1652. During this period, business people and individuals alike, were known to engrave and distribute their personal coins.
Some people are so interested in coin collecting that they are more willing to combine various forms and categories. The reason for this fascination for these coins is the very nature of U.S. coins.
The U.S. Mint carefully crafts U.S coins and over the past 30 years it has minted nearly 300 billion coins.
When the Articles of Confederation gave consent for the different states to create or manufacture their own coins, the U.S. coin collections grew at an unparalleled rate. That is why in the middle of 1780's, states like Connecticut, Vermont, New Jersey, New York, and Massachusetts started creating various coins unique to their states. This prompted the start of "rare coin collection."
To know more about U.S. coin collecting, here are some of the basic facts that you must know:
1. It was on 1787 that the primary "federally" approved coin of the U.S. was first made. It was in New Haven, Connecticut where the "Fugio Cent," the name of the coin, was secretly manufactured.
2. The U.S. Mint is responsible for manufacturing the U.S. coins. The agency uses bands of metal that are rolled into loops, with the right breadth and measurements. Each kind of coin uses a particular kind of metal. For instance, metal strips that are made of zinc are used to manufacture pennies, while nickels are made of a 25% "nickel metal alloy" and 75% copper.
For this reason, U.S. coin collecting is further subdivided into categories such as the U.S cent, U.S. nickel, U.S. dime, etc.
People who would like to start collecting U.S. coins, should learn the intricacies or the hobby and find ways to acquire their first coins.
The hobby of U.S. coin collecting is not just a wonderful hobby but also a great way to preserve the nation's culture and history.
Written by DIY Conservatories
Article Source: http://www.earticlesonline.com/Article/Collecting-Coins-a-Collectors-Guide/189667
FEATURED PRODUCTS:
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 1907 Philippines US Colony 50 Cents Centavos Half Peso Silver Coin 10817 $24.99 Time Remaining: 48m Buy It Now for only: $24.99 |
 1920 VF Philippines US Colony 50 Cents Centavos Half Peso Silver Coin 10819 $24.99 Time Remaining: 48m Buy It Now for only: $24.99 |
 1951 S SILVER Franklin Half DOLLAR 90 SILVER Coin 50 Cents FREE SHIPPING $16.49 (7 Bids) Time Remaining: 48m |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB612 $27.00 Time Remaining: 56m Buy It Now for only: $27.00 |
 1908 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB637 $26.00 Time Remaining: 56m Buy It Now for only: $26.00 |
 1908 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB634 $25.00 Time Remaining: 56m Buy It Now for only: $25.00 |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB613 $27.00 Time Remaining: 56m Buy It Now for only: $27.00 |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB619 $27.00 Time Remaining: 56m Buy It Now for only: $27.00 |
 1909 S Silver Barber Half Dollar 50 Fifty Cents Coin HAB690 $28.00 Time Remaining: 56m Buy It Now for only: $28.00 |
 1908 S Silver Barber Half Dollar 50 Fifty Cents Coin HAB656 $23.00 Time Remaining: 56m Buy It Now for only: $23.00 |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB620 $27.00 Time Remaining: 56m Buy It Now for only: $27.00 |
 1907 O Silver Barber Half Dollar 50 Fifty Cents Coin HAB611 $27.00 Time Remaining: 56m Buy It Now for only: $27.00 |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB618 $30.00 Time Remaining: 56m Buy It Now for only: $30.00 |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB625 $23.00 Time Remaining: 56m Buy It Now for only: $23.00 |
 1907 O Silver Barber Half Dollar 50 Fifty Cents Coin HAB610 $25.00 Time Remaining: 56m Buy It Now for only: $25.00 |
 1907 O Silver Barber Half Dollar 50 Fifty Cents Coin HAB615 $27.00 Time Remaining: 56m Buy It Now for only: $27.00 |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB631 $26.00 Time Remaining: 56m Buy It Now for only: $26.00 |
 1908 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB639 $23.00 Time Remaining: 56m Buy It Now for only: $23.00 |
 1909 S Silver Barber Half Dollar 50 Fifty Cents Coin HAB709 $34.00 Time Remaining: 56m Buy It Now for only: $34.00 |
 1909 Silver Barber Half Dollar 50 Fifty Cents Coin HAB658 $28.00 Time Remaining: 56m Buy It Now for only: $28.00 |
 1908 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB636 $26.00 Time Remaining: 56m Buy It Now for only: $26.00 |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB632 $25.00 Time Remaining: 56m Buy It Now for only: $25.00 |
 1909 S Silver Barber Half Dollar 50 Fifty Cents Coin HAB706 $30.00 Time Remaining: 56m Buy It Now for only: $30.00 |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB616 $27.00 Time Remaining: 56m Buy It Now for only: $27.00 |
 1907 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB614 $27.00 Time Remaining: 56m Buy It Now for only: $27.00 |
 1908 D Silver Barber Half Dollar 50 Fifty Cents Coin HAB638 $23.00 Time Remaining: 56m Buy It Now for only: $23.00 |
 1909 Silver Barber Half Dollar 50 Fifty Cents Coin HAB665 $28.00 Time Remaining: 56m Buy It Now for only: $28.00 |
 1909 S Silver Barber Half Dollar 50 Fifty Cents Coin HAB710 $26.00 Time Remaining: 56m Buy It Now for only: $26.00 |
 1909 S Silver Barber Half Dollar 50 Fifty Cents Coin HAB703 $30.00 Time Remaining: 56m Buy It Now for only: $30.00 |
 1909 S Silver Barber Half Dollar 50 Fifty Cents Coin HAB707 $30.00 Time Remaining: 56m Buy It Now for only: $30.00 |
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Copper Penny Milk Chocolate Coins, 1 lb. bag, 91 coins
Sale Price: $14.00  |
DescriptionCopper Pennies, milk chocolate, and a whole pound of them! Each bag contains over 91 copper coins great for trading, pirate treasure, party favor or for a wedding. Great to look at, great to eat! Delicious milk chocolate, where the quality will surprise you! |
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Blue "It's a Boy" Milk Chocolate Coins, 1 lb. bag, 91 coins
Sale Price: $13.95 |
Description"It's a Boy" coins, milk chocolate, and a whole pound of them! Each bag contains over 91 pink coins great for trading, offering at a birth, baby shower, or party favor or for a wedding. Great to look at, great to eat! Delicious milk chocolate, where the quality will surprise you! |
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Pink "It's a Girl" Milk Chocolate Coins, 1 lb. bag, 91 coins
Sale Price: $12.00 |
Description"It's a Girl" coins, milk chocolate, and a whole pound of them! Each bag contains over 91 pink coins great for trading, offering at a birth, baby shower, or party favor or for a wedding. Great to look at, great to eat! Delicious milk chocolate, where the quality will surprise you! |
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1982 U.S. Proof Set in Original Government Packaging
Sale Price: $4.44 |
DescriptionUp for sale we have a U.S. Mint 1982 Proof Set. This Set is in the Original Box and Plastic Holder that was issued from the U.S. Mint. Here's what's included in this proof set: 1982 Lincoln Cent, 1982 Jefferson Nickel, 1982 Roosevelt Dime, 1982 Washington Quarter, and 1982 Kennedy Half Dollar; and all in the original US Government packaging!! |
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1989 U.S. Proof Set in Original Government Packaging
Sale Price: $4.73 |
DescriptionUp for sale we have a U.S. Mint 1989 Proof Set. This Set is in the Original Box and Plastic Holder that was issued from the U.S. Mint. Here's what's included in this proof set: 1989 Lincoln Cent, 1989 Jefferson Nickel, 1989 Roosevelt Dime, 1989 Washington Quarter, and 1989 Kennedy Half Dollar; and all in the original US Government packaging!! |
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1999 S Proof Set in Original US Government Packaging
Sale Price: $12.70 |
DescriptionHere is the 1999 Proof Set. The Proof Set for 1999 has 9 coins, including the 5 State Quarters (Pennsylvania, New Jersey, Delaware, Georgia, Connecticut), the Dime, Half, Jefferson Nickel, and the Lincoln Cent... |
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BICENTENNIAL TREASURES COLLECTION
Sale Price: $9.95 |
DescriptionAs part of the historic celebrations in 1976 to mark the 200th anniversary of the Declaration of Independence, the U.S. Mint struck three special one-time-only circulating commemorative coins |
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2000 24K Gold Plated Hologram State Quarters
Sale Price: $17.50 |
DescriptionThe new State Quarters are America's most popular coins - but few people will ever have the chance to own the fabulous set of coins that are gold plated and enhanced with genuine holograms. |
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A Guide Book of United States Coins 2011: The Official Red Book (Guide Book of U.S. Coins: The Official Redbook)
List Price: |
DescriptionThis book includes everything you've ever wanted to know about US coins! (ISBN 0794831494) |
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Catalogue of the collection of colonial and state coins, 1787 New York, Brasher doubloon, U. S. pioneer gold coins, extremely fine cents and half cents of Captain A. C. Zabriskie
List Price: |
DescriptionThis is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process... |
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