Coin Collecting 101: What Type Of Coin Should You Collect?
Coin collecting is a fun hobby to start and the thrill of hunting for old coins is enough for many people to continue doing it. Other people consider coin collecting an investment, something they can receive a profit from. If you are one of those people, then you can find several types of coins in this article that will help you determine what others are looking for.
Most coin collectors will look for only a specific kind of coin that will make their collection more valuable and interesting to buyers. Others are collecting for sentimentality and are looking more at the coin’s uniqueness.
Series collectors are those looking for a series of coins that mark every year and every design change made in that coin.
Type collectors are those people who are looking to get one of each coin where there were/are changes made.
Ancient coin collectors are those people looking for coins spanning the years 650 BC – 450 AD. This is the time when coins were invented and there were silver, gold and bronze versions made. It also marks the time when Roman emperors were the rulers and most of them feature famous Roman emperors, Roman towns, or gods.
Token collectors are those who are looking for different kinds of tokens that were used in exchange for real money when there was a lack of coins. These tokens were used as local currency even if the government had not given permission for them to be used.
Coins are also graded. A coin’s grading depends on its condition and the price of the coin will rely heavily on that grade. It is important for a coin collector to know how to grade a coin to make sure that he is not swindled by individuals looking for a quick profit.
“Uncirculated” coins are those coins that are not showing any wear and tear or to referred to as “in mint condition”. A mint state (MS) grading depends on a coin’s luster, contact marks, hair lines and overall appeal. A coin can have a grade ranging from MS-60 (dull luster) to a flawless MS-70. Although MS-70 is considered unobtainable, a grade of MS-65 and higher will make a coin’s price shoot up.
Circulated coins are more forgiving, they do not take into consideration the amount of scratches and dirt a coin has gathered along the years. Grades for circulated coins will vary. AU (about “uncirculated”), EF (extremely fine), VF (very fine), F (fine), VG (very good), G (good), AG (about good), F-2 (fair) and P (poor) are used as indication of how much a coin is worth.
These grades are dependent on a circulated coin’s luster, visible wear, design elements and visibility of letters and numerals. Unlike “uncirculated” coin’s grades, these grades do not dramatically lower a coin’s value. This is wonderful for people who are looking just to complete a collection and do not care about a coin’s mint condition.
Pricing of a coin will usually be determined by a coin’s supply and demand. Very low supply and very high demand will make a coin’s price higher; however, high supplies of the coins will depreciate a coin’s value.
Demand is usually established by coin dealers where they take into consideration the number of people wanting to buy or sell the coins. Once a coin becomes difficult to find, coin dealers will usually make its price higher so that people are inclined to sell extra copies of their coins.
Grading and pricing a coin usually takes a lot of experience to master. Although there are several tips and guidelines to look for in grading a coin, only professional dealers have the final say on how much a coin is worth. It does not hurt to know this grading is done and why your coin was graded differently from what you thought.
Coin collecting is not really about investment, it should be a fun and thrilling hobby. While the overall goal of a coin collector is to complete a set of coins, learning what to look for in a coin is important to make sure that no one can take advantage of your need to complete a particular set.
Articles compliments of skaDoogle
Browse Our Information Mall
Other Interesting Articles
Do's And Don’ts Of Coin Collecting
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 purs... [Read more]Free Coin Collecting Software
Coin collecting is one hobby that has been going on for ages. Some of the most popular collectors in the world were Louis XIV and the Sun King. To keep track of the coins in the collection or to monitor the value of rare coins in the market, it pays to have coin collecting soft... [Read more]Essential Supplies In Coin Collecting
The condition of the coin means everything in coin collecting. In the world of coin collecting, the coins themselves are considered as gold, this is why there is a need to protect them from damage. Having the right supplies will allow a collector to preserve the integrity of his coin collection. The slightest hint of damage can diminish the value of a coin significa... [Read more]Coin Collecting Auctions: Bane Or Boon?
If you are a coin collector who wants to sell or buy coins, one good way to do it is through coin auctions or bid... [Read more]Software For Coin Collecting: The Smarter Way To Collect Coins
It is a common coin collecting problem: too many coins, not enough information on what kinds of coins to collect, or a disorganized group of collecti... [Read more]
Jessup Police Find Foreign Coin Collectionwnep.comJESSUP â€” Police in Lackawanna County found an unusual piece of evidence during a drug investigation, a collection of coins from all over the world. Now, officers in Jessup hope to get it out of the evidence locker and into the hands of its original owner.
Boys Accused of Stealing Coins from Fountain at Mallfox8.comâ€śNumber one, you know cameras are everywhere and why on earth would you think you could get away with hiding, putting coins in your pocket and thinking you could possibly get out of the mall?â€ť said shopper, Beverly Riley-Tatum. The suspects were...
Download Our Free eBook!
- Related Articles
- $10 Million Worth Of Pennies
- What Are Commemorative Coins?
- Accessories For Coin Collection
- Ancient Coins As Collections
- Antique Coins As Cool Collections
- Learning The Ropes Of Numismatics
- Coin Collections: Beginner's Guide To Coin Collecting
- Canadian Coin Collecting: Pleasures Vs. Treasures
- Choosing The Coin Fit For Your Collections
- Coin Buying Tips
- Have Coins? Will Collect!
- Coin Collecting Album: A Pocket For Your Coins?
- Coin Collecting As A Hobby
- [More Articles...]
This Book Shows The Prominent Role Silver Will Play In The Return Of Metal As Money The Information Herein Helps Many Investment Direction Seekers In Their Understanding To The Current Situation Of The Dollar Gold Silver And How To Hedge The Smart Way
Learn How To Make Money Buying And Selling Gold My Book Contains Everything You Need To Get Started You’ll Also Receive A Bonus Package That Contains All Of The Ads Flyers And Invitations You Need To Market Your Business
The Best Gold Recovery Guide On The Net Gold Plus Free How To Create An Excellent Income From Free E waste Bonuses Professionally Designed Easy To Read Simple Instructions And Loads Of Real Pictures A Great New Niche Item High 60 Perc Commission
Micro Niche AdSense Templates
I Have Been Doing This Since 2003 I Consistently Time The Tops And Bottoms Of Stocks Gold Oil Commodities And Send Out My Portfolio Of Picks That Is Updated Daily I Give 35 Commissions And Get Good Rebills And Very Low Refunds
|Do U skaDoogle? |