Coin Collecting Made Easy

By Benjamin Coinington

Are you intrigued by the allure of coin collecting but feel overwhelmed with where to start?

 Looking for a beginner-friendly guide to help you choose the rarest coins and unlock the secrets of this extraordinary hobby?

 

If your answer is a resounding YES, then you've found the ultimate comprehensive guide just for you!

Coin collecting, known as numismatics, is one of the oldest and most captivating forms of collecting. It's not just about owning precious pieces of human history, but also about igniting a thirst for knowledge that transcends time and space.

 

This handbook is your key to unlock the world of coin collecting like never!

 

In this book, you will discover everything you need to know about coin collecting, including:

• The captivating history of numismatics – Where it all began and how it has evolved.
• How to start your coin collection – Step-by-step guidance to help you begin your journey with confidence.
• Understanding every single grade of coins – Unraveling the mystery of coin grading and determining their true value and worth.
• Enhancing your collection – Practical and targeted exercises to level up your collecting skills and improve your collection.

But that's not all!

 

This comprehensive guide also reveals:

• The most common mistakes to avoid – Advice on how to steer clear of rookie errors in coin handling.
• Mastering the art of selling coins – Insider strategies to become a pro at selling your coins and maximizing your profits.

…and much more

 

By following this guide, you will gain a clear and step-by-step understanding, ensuring you make informed decisions and avoid costly mistakes in your coin business right from the start. Feel special as you embark on a unique journey to turn your passion for coins into a profitable business that not everyone has the opportunity to experience.

 

Why Choose "Coin Collecting Made Easy":

• Comprehensive and beginner-friendly guide
• In-depth topics covered with expert insights
• Step-by-step instructions and practical exercises
• Avoid common rookie mistakes

Learn how to turn your passion into profit and join an exclusive community of coin collectors.

 

Unleash your inner numismatist and embark on a thrilling adventure into the world of coin collecting with 'Coin Collecting Made Easy '.

Get ready to uncover the treasures of history and discover the limitless possibilities that await you in this fascinating hobby.

• Language: English
• Publisher: The Way to Success Consulting Editions
• Release date: May 17, 2023
• ISBN: 9798223090472

Book preview

Coin Collecting Made Easy

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Coin Collecting Made Easy

The Ultimate Beginner's Guide for Build a Solid Foundation in Coin Collecting, Master Coin Valuation, Enhance Selling Skills, and Generate Income from Your Hobby

By

Benjamin Coinington

Title: Coin Collecting Made Easy

Copyright © 2023 by Benjamin Coinington

All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher, except for brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law.

This book is intended to provide general information about coin collecting and is not intended to be used as professional advice. The author and publisher are not responsible for any errors or omissions or for any actions taken based on the information provided in this book. Readers are encouraged to consult with a qualified professional before making any decisions related to coin collecting.

The trademarks, logos, and brands mentioned in this book are the property of their respective owners and are used for identification purposes only. Their inclusion in this book does not imply endorsement or sponsorship by the trademark owners.

Any unauthorized use of the contents of this book, including but not limited to copying, distributing, or modifying the content, may violate copyright law and result in legal action

TABLE OF CONTENTS

INTRODUCTION

1: HOW COIN COLLECTION STARTED

2: NUMISMATICS

THE HISTORY OF NUMISMATICS

3: COIN COLLECTION

COIN PRODUCTION

COLLECTING VARIOUS TYPES OF COINS

WHY DO PEOPLE COLLECT COINS?

4: COIN GRADING

THE 70-POINT COIN GRADING SCALE

THE THREE COIN-GRADING BUCKETS

HOW TO GRADE CIRCULATED COINS

5: COIN VALUES AND COIN PRICES

DETERMINING THE VALUE AND PRICE OF COINS

6: HOW TO IMPROVE YOUR COIN COLLECTION PRACTICE

7: HOW TO SAFELY STORE YOUR COIN COLLECTION

THE CAUSES OF DAMAGE

BEST STORAGE SOLUTIONS

8: PROTECTING, PRESERVING AND STORING YOUR COIN COLLECTION

HANDLING COINS PROPERLY

9: LEARN HOW TO RECOGNIZE CIRCULATED COINS

HOW TO IDENTIFY, PRICE, AND VALUE OLD COINS

GUIDES TO UNITED STATE COINS

10: HOW TO CLEAN COINS SAFELY AND EASILY

11: HOW TO FIND A LOCAL COIN DEALER

THE BEST PLACES TO BUY COINS

WEBSITES FOR COIN COLLECTORS AND ENTHUSIASTS

The United States Mint

PCGS Coin Facts

Newman Numismatic Portal

Coin News.net

NGC World Price Guide

PCGS, www.pcgs.com

Great Collections Inc.

Mint Error News

American Numismatic Association

Kitco Bullion Prices

12: WAYS TO RUIN YOUR COINS

13: HOW TO SELL THE COINS

TIPS FOR BUYING AND SELLING COINS

14: HOW TO DETECT COUNTERFEIT COINS

TYPES OF COUNTERFEIT COINS

COUNTERFEIT COIN DIAGNOSTICS

IMPROVING YOUR COUNTERFEIT DETECTION SKILLS

15: WAYS TO SPOT A FAKE COIN

CONCLUSION

INTRODUCTION

Coin collections can be cherished family heirlooms passed down through the generations. Today, even coin collections can sell for hundreds of thousands of dollars. Coin collecting, moreover, may be a highly enjoyable hobby to pursue. As a hobby, anyone can love collecting items. So why not invest in something that will appreciate in value over time? That is only one of the ways a coin collection can benefit its owner. A collection like this might appreciate in value over time.

Most people have started their own coin collection, even if they aren't aware of it. It is a beautiful activity that should be pursued. Coins should be easy to come by because there are so many to go around. However, this is dependent on the type of coins you want to gather. Regardless, starting a coin collection can be a simple process. You may start with what's easiest to come by in your neighborhood. You can amass your own collection of lucky coins. Perhaps a silver dollar, an old Indian token, or a souvenir token can be added to your collection. As you continue to collect coins, you may discover that you have already gathered a coin collection.

Coin collecting is a fascinating hobby because each coin's marks reveal stories from the past. Each coin tells the story of the place where it was issued, from monarchy to great leaders to power and patriotism. Famous historical characters are forever portrayed in each coin, ensuring that you get an authentic representation of how such famous people appeared throughout their time. It is normally up to the collector to decide what coins to acquire. There are no restrictions on the kind of coins you can gather. However, there are a variety of strategies you can employ to assist you in your coin collecting endeavors. One technique is collecting a series or a full set of the coins in a series, such as a series of coins struck at a given moment in time. You can also employ the shotgun approach, which entails gathering coins of particular interest to you. You might also focus on collecting coins with odd shapes, such as those found in other nations.

This may prove to be a more difficult endeavor, but as you continue to add to your collection, it may also prove to be more gratifying.

There are various options for getting started with your own coin collection. There are a number of places where you can find coins to start your own collection. To begin, look through your pocket for coins that you may have otherwise discarded. You may have visited other nations and discovered that they have a wealth of unusual coins worth collecting. You can also go around your neighborhood for more precious coins to add to your collection by visiting coin shops. However, be prepared to part with some cash if you want to get some coins.

Coin exhibits provide another place where you may view a diverse assortment of coins from dealers from all around the world. You could meet up with other coin collectors and form many friendships along the road. You can even enlist the assistance of your friends and family members by requesting a coin or two from them. Even flea markets are an excellent place to seek valuable coins at a low cost. However, looking for such coins may need a keen eye.

1: HOW COIN COLLECTION STARTED

The best place to start collecting is with pennies, and we'll focus on the Wheat Cents, which are the Lincoln Cents from 1909 to 1958. There are still a lot of wheat cents floating about, so you can start a coin collection without investing a lot of money. Check for silver coinage and, of course, check those quarters while looking through your pocket change for wheat cents. The new 50 State Commemorative Quarters are a great place to start because five new states are added each year and distinct mint markings.

Returning to pennies, which is where our new collection will start. The first Lincoln Cent, which was made of copper, was coined in 1909. The mint continued to produce copper pennies until 1943, when they were replaced with steel pennies that were zinc plated to prevent rusting. Because of the plating, these coins appear to be silver or gray in hue. Because of a war-related copper scarcity, the pennies were manufactured of steel until 1944, when copper was reintroduced. Between 1909 and 1958, the penny had Abraham Lincoln on the obverse (front of the coin) and the inscription ONE CENT over The United States of America framed by wheat bundles on each side of the words, earning the nickname Wheat Cents in the process. For the years 1909 to 1958, the penny was known as this. Except for a tiny alteration in the metal's composition, which was 95 percent copper, 5 percent tin, and zinc until 1943, when they were zinc plated steel, and then 95 percent copper, 5 percent zinc, and no tin until 1944, when they were 95 percent copper, 5 percent zinc, and no tin.

For 50 years, the penny remained unchanged. Victor David Brenner designed it, and his initials appeared on the reverse of several of the first year's pieces. The VDB appears on the reverse (back of the coin) at the bottom at the 6 o'clock position on some 1909s, but not on others. The pennies were made in Philadelphia, Pennsylvania, and San Francisco, California. The San Francisco pennies contain tiny s under the date, whereas the Philadelphia coins do not. The coins with mintmarks should be avoided; this applies to all coins, not just pennies. The rarity of coins determines their worth, and because the Philadelphia Mint is the largest of the mints, it was only natural that they manufacture the most coins. There is also a mint in Denver, Colorado, and a mint in Carson City, which had closed by this time. The Denver mint added a little d to the date, and the initials CC for Carson City can be found on the older coinage of different sorts.

Mint Marks are Important; learn to watch for them

Back to pennies, the first Lincoln (wheat cent) penny was minted in Philadelphia in 1909, with 72,702,618 coins produced without the initials of the designer, Victor David Brenner. With the VDB on the reverse of the penny, they made 27,995,000 coins. San Francisco struck 1,825,000 coins without the designer's initials and 484,000 with the initials VDB on the reverse at the bottom of the coin in the same year, 1909. Now for the supply and demand lesson in economics and how it influences price. A 1909 penny in good condition would be worth roughly 75 cents, while one in mint condition would be worth almost $14.00. If you had a 1909 with VDB on the reverse in good condition, it would be valued at about $1.80, in mint condition (I can't explain this), it would be worth about $9.00 (the only obvious reason for the penny with the lower mintage being worth less in mint condition than the plain 1909 in mint condition, would be that in numismatic records kept by the grading services, there are probably more 1909 VDB's on record than plain 1909's) If you found a 1909s with the letters VDB on the reverse in good condition, it is worth $350.00, and in mint condition, it is worth $680.00 or more. Not bad for a shilling. There are what are known as important dates in all coin kinds and series; for now, let's just say they are essential for a variety of reasons (another major subject), but they are crucial in collecting coins of all types, not just pennies.

The important dates for the Lincoln cent from 1909 to 1958 are as follows:

›  1909s VDB

›  1909s

›  1914d

›  1922

›  1931s

The semi-key dates, also valuable, but not as significant as the key dates, are 1910s, 1911d, 1911s, 1912s, 1913d, 1913s, 1914s, 1915, 1921s, 1922d, 1923s, 1924d, 1926s, 1931d, and 1933d.

This covers the wheat cents from 1909 to 1958 and keys and semi-keys. Each coin series features error variants, die varieties, and double die varieties that are worth more than regular date coins. These