1.40
0.1080
= Offer Side vs. NY Close
Until the mid-20th century, older U.S. coins could be collected from pocket change! With the discontinuance of silver coinage, some design changes to coins and the issuance of clad coinage, these classic old coins were no longer to be found in circulation. Today, we still have collectable coins and many commemorative pieces available, and some are just as beautiful as the old silver, and earlier gold.
People become interested in coin collecting in many ways, often from the gift of a coin from a friend or experienced collector, who has told of its premium value. For some, it is nostalgia, a remembrance of some pleasant childhood experience with coins, and for others, it’s merely a hobby to perform in spare time. Many others are into it solely for profit, and they are usually called investors, not collectors. However, you can be a collector, with an appreciation for the art form and historical value of coins, with the hope of your collection increasing in value for future redemption.
As with any new endeavor, it is advisable to do a little research beforehand. The Internet is a great tool to do this, but is not as interactive as another collector or dealer. Most people will select a certain type of coin to collect, be it a Lincoln cent or silver dollar, and try to complete the set of all issues minted for that series. Some will try to accumulate one example of each type or denomination of coin for a certain time period. Whatever route you wish to take, collect something that pleases you, regardless of the value, that is within the budget you have set for your collecting activity.
The first thing to remember about coin collecting is NOT to clean any of your specimens, and avoid buying ones that have been. In the early 20th century, it was a recommended practice to clean coins, but no longer! Cleaned coins are always valued lower than ones that have not been ‘enhanced’ or ‘doctored’, which usually means cleaned! Some cleaning is done so well that it is nearly undetectable by all but experienced collectors or dealers. Cleaned coins also will not be certified by most grading services.
There are several major grading services in business today that will authenticate and grade coins for collectors and dealers, and encase them in plastic holders commonly known as slabs. Several experts examine submitted coins, and authenticity and an approximate grade will be given for each piece. If a coin is deemed to be genuine and has not been cleaned or otherwise altered, it will be ‘slabbed’ and returned to the submitter. A fee is charged for each coin examined, and most reputable services will guarantee the authenticity of any coin that they slab, however grading is somewhat subjective and they do not guarantee any grade given.
Try to purchase the best quality or grade of coin for your collection, as they will be more pleasing to the eye, and hold or increase in their value more than the low grade ones. Of course higher-grade coins will cost more, but as with most things, you get what you pay for if the coin is properly graded and has no other imperfections. Some people buy only certified or ‘slabbed’ coins, as they are not sure how to grade or determine if a coin is genuine or has not been altered or cleaned.
Unless you are an experienced collector, it is advisable to buy from reputable sources such as a local established dealer, who must maintain a good business relationship with local clients and customers to remain in business. Coin shows offer many such dealers with good selections and years of knowledge that they will share if you ask them. Ads in newspapers, flea markets and often times Internet sellers are less desirable sources as they often are not accountable for their merchandise and charge high prices and fees to deliver their products.
Whether you are an advanced collector or a beginner, we have coins for every budget or taste. At Christopher’s, our staff will always be happy to answer your questions about coins and collecting. We have an outstanding inventory of coins and collecting accessories along with a great selection of reference books, periodicals such as Coin World and Numismatic News plus the current year ‘Redbook’ guide and foreign coin and currency guides for your research and reading pleasure.