How to know when to sell your coins

When is the perfect time to sell coins? This may be a dumb question if asked of a coin collector however timing really does make a difference. There are times when a collector wakes up in the morning and suddenly makes a decision to sell his precious collection of coins. There are also times that a collector needs to give up his coin collections due for personal reasons and the idea of selling his precious coins may be the most difficult part. No matter what the reasons are, it is a fact that this does occur in the life of a coin collector.

There are many reasons why coin collectors sell their coins – there are coin collectors who are dealers at as well. Selling coins is their option and they may use it to generate income so that they can acquire other coins that they like.

Some collectors travel in search of a coin they want and during that travel, they may encounter coins that may not be qualified for their own collection but they buy them anyway. Upon returning home, they sell the coins they have purchased and make use of the money to buy the coins they are looking for.

There are also coin collectors who gather coins not just as their hobbies; these coin collectors use the coins as their source of income. They make a living from selling the coins that they collect. Sometimes they sell the coins to other collectors and price them higher than the usual price of the coins and this is appropriate if the collector owns limited edition or rare coins.

On the other hand, some collectors sell their coins because of other factors. They may sell coins because of personal reasons. Collectors sometimes decide to “give away” their collection because they no longer have any option but sell their coins. This is the most difficult situation for coin collectors as they often value their coins and as much as possible would not want to give them away – the coins may be memorabilia or may have sentimental value to the collector.

Once a collector has decided to sell his coins, he must consider if it is really the right time to sell the coins. Is the collector ready to give away his coins? Is the coin at higher price now? Will it do well and will he benefit from selling his coins? These factors should always be considered.

There are other options available to determine where a coin collector could sell his coins. He may want to sell the coins at auctions. Many people now prefer the option of putting their belongings up for auction and this is not limited to coin collections.

There is also a higher chance of having the coin sold at a higher price since auctions include bidding processes. Buyers may bid for a higher price especially if the coin being sold is of rare quality and has a higher value.

A collector may also want to put up a website to advertise the coins that he would like to sell. The Internet is the easiest way for collectors to search for coins. In addition, putting the coin on the Internet will make the selling an easier task. The collector may put up his own website and place the pictures of his coins and some brief descriptions on it. He should also note how much he is willing sell them for.

There are other options too: the seller may want to do a dealer-to-dealer negotiation. He can go directly to coin dealers and sell his coins. The dealers then can sell the coins that they purchased to other dealers.

It is important to compare prices between one dealer and another as there is always a chance that one dealer may buy the coins at a higher price than other dealer. It is wise to shop for dealers and then decide which you one you want to deal with.

It is also recommended that collectors who decide to sell their coins use a coin grading service. It is very important so that the seller not end up a loser when he sells his coins. By using a grading service, the seller will be able to set a price that is based on the assessment made by the grading service who will determine the actual value of the coins.

Most importantly, coin collector should not clean their coins once they have decided to sell them. If they do, the value of the coins will depreciate.

History Of The Indian Head Penny

An Indian Penny is a coin that’s value equals one cent. It was minted from 1859-1909 in Philadelphia at the local mint, (also, in 1908 and 1909, it was minted in San Francisco). James B. Longacre, who was an engraver, came up with the design for the coin. The PCGS grading service gave it a grade of MS65-Red.

The front of the coin has Miss Liberty in an Indian Head dress of feathers along with the year it was produced. The band of the head piece also houses the word, “LIBERTY,” (mainly because it is a law that it has to be on every coin somewhere). This side of the coin also has the, “UNITED STATES OF AMERICA,” written on it. Sadly, in the years between 1859 and 1864 it did not have any thing on it to show who the designer was. Then in 1864 the coin was switched over to bronze and Longacre got a chance to fix the image. At this point he put the initial “L” for his last name in the ribbon behind Miss Liberty’s head. The design remained the same until a minor change occurred 1870 by William Barber.

The back of the coin had two separate designs. Up until 1859 the back of the coin had the wreath of laurel on it with “ONE CENT” written on the back as well. Then, in 1860, the reverse side design was changed. Until the end of the mint cycle it had “ONE CENT” on it as well as a Federal Shield above it. The “ONE CENT” was wrapped in an oak and olive wreath that had a ribbon tying it together.

This coin was only 12% nickel and 88% copper. This was before the actual invention of the Nickel and this one-cent coin was sometimes referred to as a Nick or Nickel. During the Civil War they were moved to the back shelves and replaced with tokens in many of the state in the North. However, the popularity of the one-cent coin from 1859 did promote a new coin that was similar. However, the newer coin was made up of 5% zinc and tin and 95% copper. The coins weight was also lowered from 72 to only 48 grams. This was the coin that was used until 1982 when the one-cent coin we currently used was introduced.

There were 1,849,648,000 Indian Coins produced. In 1909 the S Coin had the lowest amount produced with only a mere 309,000. However, the 1909 coin is not the scarcest coin because there were very little 1877 coins actually kept.

Which Coins Should I Buy Now For Future Profit?

The main value of a coin will always be in its aesthetic and historic interest as part of a collection. The men and women who have a passion for coins often go to great lengths in pursuit of the rare coin that they are keeping a space open for between their other finds. If your main interest is in making a profit then you may want to look at other options for your money, as you are unlikely t o fully appreciate your coins, and you are unlikely to see your funds increase rapidly, especially without the collector’s drive to hunt out the rarest and most valuable coins.

Many collectors do see their coins as a potential source of money in the future, and as a safe way to protect their savings “just in case”. There is also plenty of interest in the likely future values of coins, either for the collector’s own lifetime or as a valuable inheritance for the generations to follow. A large number of coin collectors do see their coins as an investment, even while appreciating their beauty.

If you would like to begin a collection, and are interested in buying coins which do have a good chance of increasing in value, then you will not be alone. The basic rule for choosing such coins is to look at their past value. If it has been increasing steadily then the chances are good that it will continue to do so. Rather than buying the most expensive coin you can find under the assumption it will always be the most valuable, or finding something cheap because it sounds like a bargain, you should take the time to look at what that coin was worth over as many past years as you can.

Was it worth more or less three years ago? What about five or ten years ago? If you can find data from twenty or thirty years ago, or even longer, then you will have an even better idea of the long term trend. If the price of the coin has been decreasing or staying at about the same figure, then it is unlikely to suddenly change and start increasing. It there has been a pattern of growing prices over a number of years then it might be a good investment. A good rate of growth would be five or ten percent in a year. If this has held steady for a fair amount of time you can feel confident it is likely to continue.

This may sound like a lot of effort, and indeed many coin collectors who are interested in the non-financial value of their coins would not bother with looking at the past prices in detail. Collectors who consider their coins as an investment will be much more successful if they put the work in before they buy, however, in the same way as performing a thorough investigation can improve your chances in any field of investment.

As you build your collection you will not just be saving for your future, but gathering coins that have important historic value too. You may find that your interest is piqued by the stories of the coins you buy, even if you began with only their prices and your profit in mind.

Safely Storing Your Coins

So, you have been making that coin collection of yours for a very long time, but do you know how to keep the coins in mint condition? So where exactly do you store your precious coin collection?

Well, there are many different ways to show off the coin collection. But, one of the best ways would be to use a coin collection album. A coin collection album has many advantages, here are some of them.

The first advantage of album is the ability to see both sides of the coin. This makes it so you can enjoy both sides of the coin without having to take it out of its casing. Making it so there is a lower chance of you somehow damaging the coin.

The next thing that an album can help with is the prevention of damage. The plastic that the album is made of helps prevent damage that other types of storage would not protect it from such as scratches. It can also protect your valuable coins from natural damages such as oxidizing.

Also another thing about a coin collection album that it is a good for holding coins in general. Each pouch that you put one of your coins into is very strong. This means you will not have to worry about losing your precious coins, or have them be ruined by rubbing up against each other like they would in a normal folder.

The price of these coin collection albums has a pretty decent range from about twenty dollars to forty dollars. Some people may think that this is an expensive price to pay, but remember the price you would be saving by not having any damage to your coins. So, all in all it’s a much better deal to purchase the album versus a normal folder.

The final reason that these coin collection albums are much better is because at the beginning of most of these albums, there is a brief information section. This information section is a great place to see what coins are in the particular album you are looking at. This makes it a lot faster to find the coin that you are looking for instead of searching through all of your coins in one giant collection.

So, if you want to have the best place to store your coins, consider an album. It will definitely be the best place to keep your coins safe and organized.

Collecting Old Greek and Roman Coins

Collecting aged coins is comparable to holding a piece of history in your very hand. It is common to find low-priced ancient Roman coins at least 1600 years old; several may be 2000 years old or older. One of the benefits of collecting old coins is that ancient coins are remarkably inexpensive. Since numerous ancient coins have been identified, and more are being excavated day-after-day, it is possible to buy millennia-old coins for a couple of dollars.

Without expending a great deal of money on your collection, the old coins that you buy will in all probability not be exceedingly valuable as an investment. That should not counteract the thrill of being able to own an authentic aged coin on a budget. There are many places, both online and off, that sell affordable old coins.

It is all important to ensure the coin is recognizable. It is frustrating to buy a coin, only to realize that there is no way of telling what it genuinely is. The most effective way to guarantee that an ancient coin is identifiable is to be sure that the writing and inscriptions on it are readable.

Another alternative is to buy a batch of old coins that have been unearthed in archaeologically robust areas, but have not had the dirt and build-up of the centuries cleaned from them, these are known as uncleaned coins. Uncleaned lots of elderly coins are interesting as you never know if the coins will be so worn that there is nothing left but a smooth piece of metal, or if you will unveil a bona fide rare coin. You should be conscious, however, that the odds of finding a high-value gold or silver coin amidst uncleaned lots is exceedingly slim. The reason that uncleaned lots are distributed to begin with is that cleaning old coins is an arduous effort in the best of conditions. Removing large quantities of soil and rubble from ancient coins bears the danger of ruining the coin.

Old coins, command tender treatment. It is crucial to bear in mind that one of the factors concerning the value of a coin is the patina, or the sheen that builds up on the surface of an older coin. Never polish an ancient silver coin so that it is lustrous and glistening! When handling with old coins, you should only grasp them by the edges, since the oil on your skin can destroy the patina. Never attempt to clean old coins on your own without studying a great deal about the correct methods. Only a veteran should attempt to clean a potentially precious old coin.

When storing old coins, always use acid-free fabrics; any other sort of storage could harm the coin. You’ll need a secure place to keep your ancient coins. Some alternatives include mylar flips, acid-free plastic sheets that go into three-ring binders, or even specialized collector’s display cases, if you want an especially sophisticated look for your collection.

Coin Collecting for Beginners

Hard work is the global mantra nowadays. As you get endlessly caught up in the fierce rat race for power and wealth, stop for a while to think whether hard work and stress are making you dull! If you are constantly anxious or jittery, it’s the right time to have more quality time for yourself and family. A spare-time activity like coin collecting can become a competitive and exciting sport. It can give you a few benefits like diverting your attention from mundane tasks and relieve stress. So just hoard rare coins instead of those boring paper dollars for a change!

A coin collecting hobby usually starts from humble beginnings. For instance, you may have been given tiny coins by friends after trips to other countries or you may come across rare coins while rummaging about in a souvenir or antique shop. Many collectors base their collection on subject, period, year, and country. If you have a family member or friend who travels often globally, you could find it easier to collect coins of many different countries. You can choose a specific foreign country that really interests you, say Japan; collect latest and old coins of that country. Naturally, you should also collect old and latest coins of your country.

Coin collecting by year involves collecting the same type of coin based on its manufacture year. For instance, if a coin was made first in 1950; a successful coin collecting means owning 59 coins of the same type, manufactured from 1950 to 2009. If a specific monarch’s reign interests you, you may collect coins from the period. Alternatively, serious coin collectors can collect coins from ancient Roman or from medieval kingdoms.

Subject coin collecting would prioritize on a specific subject, for example, animals, flowers, or buildings.

Occasionally coin collectors collect by error, by inadvertently collecting faulty or imperfect coins. These include off center coins and clipped coins. For rare and old coins, these defects will significantly reduce their value or even make them worthless. Defective coins are extremely rare nowadays as precision machinery and strict quality control has reduced the possibility of flaws. Ironically, a few coin collectors consider defective modern coins as valuables!

Apart from collecting coins by international travel or mail exchange, you can buy them in local antique shops, coin shows, auctions and flea markets. Some coin collectors report that rummaging through charity boxes in local stores also often leads to exciting discoveries. But, always inform the shop owner before you embark on such activities.

Coin collecting is fun, but where should you keep them? Many collectors have coin box, but keeping coins inside a box can lead to scratches. It’s also harder to locate a certain coin when required. To begin you collecting hobby, you should consider storing coins in paper files or coin albums and keep them in a files holder. You may also opt for little plastic bags to keep your coin collection. That way, in contrast to boxes, you can always see your coins without directly touching them. However, make sure that the coin albums or plastic bag do not contain PVC, which might damage the coins inside. Special coin storage can be bought from hobby shops, online stores, or coin shops.

Before you start purchasing expensive and rare coins for your collection, you should invest in a price guide, desk lamp, and magnifying glass. You should also contact and join a coin collection club in your town, to get latest news on coins collecting and trade any surplus coins.

Creating Your Own Coin Collecting Kit

Coin collecting isn’t only about keeping coins, to coin keepers it is about so much more. This hobby requires methodical practice and patience. As a hobbyist you need to adhere to some very specific rules to help you become a successful collector.

Below are some things you will need to have as you develop your own coin collection.

1. A books about coins

Collectors of all skill levels should use guide books to help them identify and price their collection and any additions to their collection.

Coin books also give start up tips and some special instructions on how to grow your collection.

Coin pricing can be tricky so these books can help you figure out an accurate price, by teaching you how to grade them.

You should study from the books before you start your collection to help you steer clear of bad investments.

2. Keep a coin inventory

You must keep a complete record of all of the items in your collection. You should record cost, grade, face value, year, trend and any remarks should be kept for any future needs.

The information in your inventory can also help you determine which coins have gained or lost value and which ones simply are no longer needed.

To help you keep quality records you could either use pen and paper or use the software that has been made for coin collecting.

3. Box for coins

To prevent damage to your coins keep them in boxes or properly protected holders.

Paper made with sulfur or plastic made with pvc shouldn’t be used to store your coins, because they can cause chemical reactions when they come in contact with them.

4. Silica gel

Silica gel will help to lower the humidity level and correct the temperature.

5. Magnifying glasses

Magnifying glasses help you to rank coins by showing all the fine details and blemishes of each coin.

Magnification from 4- 10 x will work, but 7x is the preferred level of magnification.

6. A source of light

Keep your light half a meter from your work surface. An incandescent lamp, 75 watt lamp, or halogen lamp would be the best types of light.

7. Tools

Your fingers can leave marks on your coins that lessen their value. Use surgical gloves and velvet pads to keep from ruining your coins.

You finally finished building your coin collecting kit. Use it and enjoy collecting your coins.

Supplies For Coin Collecting

Collected coins must be kept safe from damage as their overall value depends on it and even the smallest amount of damage can significantly lower the its value. Certain supplies will help collectors preserve their coins without damaging them.

Gloves

The dirt and oils on your hands can scratch your coins. Gloves will provide a barrier between that dirt and the coins to prevent scratches or other forms of damage. Use cotton, plastic, or surgical gloves.

Coin tweezers

If gloves pose a problem for you, then try using a pair of coin tweezers. The tips of these specialized tweezers are coated in plastic to prevent scratching.

Magnifying glass

You need to see all of the fine details of your gold coins that may not be visible to the naked eye. A magnifying glass will aid you in this process, but be careful when using them to avoid doing damage to your coins.

Guide Books

To help you find quality coins at good prices use a guide book. Take your time and allow this resource to lead you to higher quality finds after all just one quality coin is worth far more than a collection full of okay ones.

Quality Dealer

You should buy from a dealer with a good reputation and that is known well amongst collectors. If a dealer has been around for years and very few people know of them it is most likely because they aren’t as good as other dealers, so take the time to find out why. No dealer can know every type of coin, so find one that specializes in your type of coin. If the dealer seems to know too much about too many coins listen to your instincts and run.

Cleaning materials

Use a very strong and soft fiber cloth and a mild soap to clean your coins.

Mats

Always use a mat on the table you work on with your coin. If you drop the coin you don’t want to damage it and reduce it value. The mat or soft cloth if you don’t have a mat can keep the coin from being damaged if it is dropped.

Boards

Many people opt to use coin boards to display their coins, but be careful not scratch the coins putting them in the boards. Also the boards may not have a film to cover the coin allowing it to be damaged by the air around it. If you use boards find one that fully protects the coins from being touched and from the dangerous oxidation caused by the air.

Envelopes

Use coin envelopes when you take your coins to different places to protect them from damage. You can also put some specific details about the coin in the envelope. Be careful not to drop the coins or allow them to bang up against anything as the envelope will offer no protection form impact.

Other Supplies

There are other supplies you can use like coin holders, coin folders, and coin boxes. Most of these things will be for the protection of the coins. Be careful how you use them and don’t buy anything that will damage your coins. As time goes on you may develop your unique way to protect your coins. Remember your coins are only valuable as long as they are not damaged.

Protect Your Coin Collection With An Album

If you are a numismatist (coin collector), one of the most important parts of your hobby is to find a place to store your coins. Proper storage ensures that your coins retain their quality and value. Without proper storage, even a mint condition coin can become scratched and worn, thus losing value.

While there are many types of storage for coins, most collectors find the best and easiest is with albums. Albums make display quick and easy, but plastic holders or tubes and folders are good methods for storing your coins.

Following are some of the advantages of displaying your coin collection in albums:

1. Both sides of the coin are visible.
Many of the other methods of storage, while protecting the coin, only allow you to see the display side. Removal is necessary to view the opposite side of the coin. With an album, both sides of the coin are revealed.

2. Less chance of damage to the coin
Damage to the coin is the collector’s nightmare. The plastic pages of the album protect the coin, not only form wear and abrasion but also from spills and exposure to the air. Proper use of an album preserves the value of your collection.

3. Coins stay in place
Albums provide pockets for coin storage. Folders depend upon coins being of standard size. A coin that has been used for many years naturally wears, especially around the edges. The wear may cause to diameter of the coin to be reduced in such a matter that it will not fit tightly into the folder and thus the coin falls out each time the folder is opened. This adds the risk of a coin being lost or damaged each time it drops.

4. Price
A good coin collecting album may cost up to $40. While this seems expensive, consider the cost of losing or damaging one of your favorite coins. In comparison, the cost of an album seems small to pay for the protection that is offered.

5. Information Centers
Many times albums will provide a place to record information about the coins being collected such as pictures of mint coins. Albums make collecting coins an easy and fun task. A coin that is of modest value today may have great value in twenty years, simply because it has been protected with a good coin-collecting album.

In addition, the organization provided by good coin collecting albums makes your hobby more enjoyable. Finding that rare coin is made simple, as it has its own special place.

The best place to keep your coins is in an album.

Building A Basic Coin Collecting Kit

Coin collecting is a hobby that has a large misconception to it. Most people think that coin collecting is basically keeping some of the change you receive from purchases and putting them into coin folders according to date and mint. The truth is that coin collecting is not just a simple hobby for kids, but a complex, and rewarding hobby along the likes of archaeological expeditions.

Like any hobby there are tool of the trade that you should use in order to get the most out of coin collecting. These tools, while somewhat simple in nature, are instrumental in making sure you get the most out of your time, investment, and fun. Here is a short list of some of the most common items you would need for a basic coin collecting kit.

Up To Date Coin Guide

A newly published, up to date coin guide is the most important tool a coin collector can have. It contains all the information you need like grading, pricing, special issue rare items, and other such information.

Before you even get started with your coin collecting taking some time to read through several coin guides, and even periodicals devoted to coin collection, is highly recommended by all experts in the field.

Coin Container Or Folder

Any collection worth any merit, and passion, deserves special collection container so you can show off your hard work and attention to detail. Containers and special coin folders are all available so you can present those very rare coins and keep track of the special limited edition coins such as the new state quarters.

Inventory Record

Being able to keep track of the coins in your collection is a must. Coin collectors go to great pains to keep track of their inventories and record everything about their special coins. Everything from the date, color, mint, deformities, date acquired, and any other special information is recorded for both the collector and even a potential trading partner or buyer.

A Good Magnifying Glass

Coin collectors have great need for magnifying glasses for looking and appraising coins in their collections. General recommendations for this would be something in the 4x to 10x range. While a handheld version would be good if you are going to auctions and storefronts, a table top magnifying glass will help you to take your time evaluating the coin and be able to use both hands.

A Light Source

Ever wonder why police, and special investigators use lights during the daytime? It’s so that the light will help them to pinpoint things, create shadows, and see into crevices and places that are hidden from light. Having a small lamp, flashlight, or other type of light source in your kit is a great addition.

Equipment For Handling

While we handle coins everyday, a coin collector should take great care in handling coins in his collection as the oils in our fingerprints can diminish the grade of the coin. Having gloves, tweezers, or other gripping type tools will help greatly.