The other reason why the Morgan silver dollar coin is so valuable is because people could not wait to be rid of the heavy coin. Keep in mind that the majority of people in the day had to carry their money with them from place to place and nothing was worse than having to carry a large sack of silver dollars to purchase items with. When the paper currency was made available for the one dollar denomination, people were anxious to get rid of the clunky coins which had been such a burden to this point. If you collect these coins, here are a few things you should know about them.

Mint Condition Morgan Coins Are Extremely Rare

When you are looking to buy a Morgan silver dollar coin that is in mint condition, be careful. This is because it is near impossible to find one in this condition. This is because the majority of people were not looking to save these coins. As soon as they were minted, they were put into circulation and they circulated heavily. The majority of coins you will find will be scratched and worn from heavy trading. If you find a coin with no markings, approach it with caution.

Look for Third Party Grading

A great way to make sure that you are buying a Morgan silver dollar coin with actual value is to buy one which has been graded by third party grading services. These services in America most often use the Sheldon Grading Scale. It is possible to find grades which are based on a European Adjective Grading Scale, but these are not as commonly used in the coin collectors’ circles. This is because the numbers which are used in the Sheldon grading scale are more recognizable and more accurate to the quality of the coin.

Look for Good Containers

Most often when you are purchasing a graded coin, it will be contained within a plastic sheet. It is important that you make sure that the plastic being used does not include PVC. This is because of the effect that it has on the quality of the coin. The last thing that you want is to purchase a Morgan silver dollar coin only to find that it is being damaged by the very container that is supposed to be protecting it from being damaged. The bets graders will know better than to use these containers.

Photo Credits: aresauburn™

Originally posted 2010-09-05 03:08:36. Republished by Blog Post Promoter

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Studying different coin dealers will help you to better understand how to get what you want. These different tips are going to help you to know what to look for and will help you to work to find the coins that you need for your collection.

Be Friendly

If you want to get something from coin dealers you need to approach them in a respectful way. Make small talk and truly work to get to know the coin dealer. The friendlier you are, the more likely they are to help you to get what you want.

With that being said, do not be fake. Talk to the owner and coin dealer a few times before you start to try to work them down on prices. Make a purchase or two at full price before you start to negotiate. This can help to set up a respectful relationship that will benefit you in the future.

Be Knowledgeable

Coin dealers know what they are talking about. They live in the coin world and know exactly what these coins are and how much money they should go for. You need to try to match their level of knowledge. This will help to impress them and will help to foster a relationship while helping to show how serious you are about your hobby. The more serious you come across, the more likely they are to help you out.

Be Firm

When you do start to negotiate with the different coin dealers that you are working with, be firm. If you are working on negotiating the price of a coin down and they will not go as low as you want, turn the purchase down. When they see that you have turned down a purchase, they know that they must lower their prices to make a sale with you. The next time that you attempt to purchase a coin, they may be willing to go down further because they know that you will turn down a price if it is unfair.

If you have a coin collection or are finally starting to get into coin collecting, you need to understand how to get ahead. You need to be as efficient as possible if you want to have an impressive collection. Knowing how to work with coin dealers is an important part of this process, as it helps you to better understand those who are standing between you and your collection. Coin dealers have the coins that you need and know it. You need to know how to work with that t avoid getting ripped off and to work on expanding your collection.

Photo Credits: Le Petit Poulailler

Originally posted 2011-04-20 03:51:58. Republished by Blog Post Promoter

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If you are thinking about getting your kids into coin collection you are going to want to make sure that you do so correctly. There are some things to consider with getting children into this collection theme. These four tips will help you to get kids into coin collection and allow them to have fun.

Get Them Started

If you are going to get your kid into coin collecting you are going to need to get them started. You will need to pay for the first few coins that they get, simply to get them interested in the collection and the act of picking out new coins. Just like any other hobby, there will be some costs associated with getting them into this form of collection.

Let Them Make Decisions

It is important for parents to realize that this is their child’s collection, not their own. Parents should be involved in the process but should still let children make their own decisions about their collection. Let them choose the types of coins that they want to buy, and let them negotiate prices down on their own. This will help to make sure that they are strong in their collecting skills as they do things on their own.

Make it Educational

While the act of coin collection does not need to become boring, it should be somewhat educational. Have your children do research on the coins they want or the coins that they have to see the history behind each coin. A simple 5 minutes of reading about a coin and the time period of that coin can teach your child a wealth of historical knowledge.

Have them Save

While you want to get your child started on their collection, you are going to want to push them to pay for their own coins down the road. Have your children save up from holiday gifts of from their allowance to purchase the coins they want.

Coin collecting can be an educational tool for children, helping them to get into previous eras and other countries. Early coin collecting can also be a great way to get a child started in general coin collecting for their future. They will have a strong collection of coins by the time they can afford to purchase rare coins themselves. These different tips are simply going to help you to nudge them along their way and give them a strong start in the world of coin collecting.

Photo Credits: Pingu1963

Originally posted 2011-01-07 03:02:22. Republished by Blog Post Promoter

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Collecting Rare Coins

The most popular method of coin collecting is to collect those coins which are rare and have a high value. These coins are found in various locations from other coin collectors to pawn shops. When you are purchasing any kinds of rare coins, it is a good idea to make sure that they have been authenticated so that you will not be buying something which only claims to be rare but is in fact a replica of a coin which is rare.

How you preserve your coins in coin collecting is up to you. While there are mats which will allow you to hold all of the coins in their own compartments, others have decided to hold on to the coins in sealed plastic bags. When you contain the coins, keep in mind the effect of oxygenation on the coins. You should also be cautioned against cleaning the coins yourself unless you have the right gear. You can actually do harm to the coin by trying to clean it. In most cases, you are better off simply leaving the coin alone. If you are insistent on having the coin cleaned, take it to an expert in the field of rare coins.

Collecting Coins of Personal Value

There are a lot of people who get into coin collecting simply to hold on to coins which bring back memories of their own lives. These coins can include the commemorative coins which have recently been released by the mint. Special mats have been created which allow people to place the coins in special slots which will signify which of the states they have traveled to in their lives. It serves as a coin collection as well as a memento of the travels you have had in your life.

Traveling is such a big part of coin collecting that you will even find people who have collections which include coins from around the world. These signify the travels that they have been on throughout the different countries. These can become quite valuable as the coins stop being circulated. Even if they are of no value during your lifetime, they can become something which is valuable for those who are further down in the family tree. You can pass along the memories of your travels as well as the value of the collection.

Photo Credits: wiccked

Originally posted 2010-08-20 07:41:26. Republished by Blog Post Promoter

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If you are looking into old paper money and paper currency collecting you are going to need to know where to look for the money itself. Knowing how to find the paper currency that you looking for is half of the battle when attempting to collect paper money.

Work with Shop Owners

The first thing that you are going to want to do when getting into paper currency collecting is start to forge relationships with shop owners. You need to start to get to know the different coin collecting shop owners in you area, as they have all of the connections in the paper currency world. They may have the old paper money that you are looking for, or will know someone who has the paper currency you are looking for. If not, they will be more than willing to help you seek out the piece that you are looking for, as they are going to want to make some money off of the transaction. If you work with coin shop owners, you are more than likely going to find what you are looking for with relative ease.

Head to Currency Shows

There are plenty of paper currency shows and money collecting shows held around the United States each and every year. Take the time to seek out the shows that are closest to you and browse them for the paper currency that you are interested in. you may find new pieces that you did not know about previously that you want to add to your collection, or may find exactly what you have been looking for.

Use the Internet

If you are struggling to find what you are looking for through shop owners and currency conventions, head to the Internet. Online auction websites and coin collection website are going to work to make it easier for you to find exactly what you are looking for. While you must be more cautious, and must pay for things like shipping, you will have found what you have wanted and will be happy with your purchase.

While it may be harder to find the paper currency that you are looking for as compared to finding coins that you are interested in, it is still both easy and possible. Take the time to forge strong relationships with coin collecting shop owners and head to as many money-collecting shows as you can. Between these real-life efforts and your virtual efforts on the Internet, you should be able to find exactly what you are looking for quickly and easily.

Photo Credits: LostBob Photos

Originally posted 2011-04-01 04:20:45. Republished by Blog Post Promoter

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1. Scarcity or rarity – If a coin if very rare the value will generally be higher. For example, 1913 Liberty Head nickels may demand a price of $1 million or more because there are only five in existence. Antique coins are limited so when they are found, they tend to have a high value. An exception could be old coins that are in great supply. A one thousand year old Chinese coin may only be worth a few dollars because there are a great number of them in existence.

2. Condition or grade - Coins can range from newly minted, never circulated to very low quality, damaged coins that are hardly recognizable. Until recently, coin grading was done on a subjective basis. Ratings depended on the opinion and expertise of the grader. Recently a number of scales have emerged in the U.S. and Europe grading attributes like rarity and coin quality.

3. Bullion value - Coins made of gold, silver or platinum precious metals may be valued not only on appearance but on the value of the metal they contain. When the price of gold is high, the value of gold coins will rise accordingly.

4. Demand – The price of coins is subject to the laws of supply and demand. When a coin is in great supply, its price will be relatively low. Some coins are in high demand because they are attractive or because they were issued at some significant period in history like the moon landing or the inauguration of President John F. Kennedy. High demand for a coin will cause an increase in the price of some coins even though they may not be in mint condition.

History of Coin Grading

Prior to the development of the worldwide market for coins, coins were described as “uncirculated” — the highest grade, “fine” or “good” — the lowest quality. By the mid 20th century, the American Numismatic Association and most professional coin dealers in America adopted a numerical system called the Sheldon scale. This system uses a scale of 1 – 70 with 70 representing the perfect specimen and 1 the lowest quality coin.

Factors in Evaluating a Coin

1. Eye appeal or aesthetic interest
2. Dents on the rim
3. Scratches or blemishes on the coin surface
4. Luster
5. Tone
6. Detail
7. Damage

Coin Grading Services

Two of the most popular coin grading services are the Numismatic Guaranty Corporation and the Professional Coin Grading Service. Coin grading services certify that coins are authentic and give a rating to each coin. After coin is graded it is sealed in an air-tight case to prevent deterioration.

Even though coin grading is used to establish the value of a coin, the process of coin grading still involves a degree of subjectivity. For example two coins may have the same rating but one coin may be more aesthetically pleasing to the public commanding a higher price. In general the higher the quality, the greater the value of any particular coin.

Apart from professional grading or market prices, the greatest value of coin collecting may be the joy that collectors get from this popular and fascinating hobby.

Photo Credits: Ivan Walsh

Originally posted 2010-08-07 09:28:40. Republished by Blog Post Promoter

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If you are thinking about collecting foreign currency you will want to make sure that you have a game plan. Knowing how to choose your foreign currency for coin collecting and paper money collecting will help you to have the strongest collection possible.

Chose a Broad Starting Theme

The first thing that you are going to want to do when starting a collection of foreign currency is to start a general and broad theme. You may want to choose to pick coins fro ma certain time period around the world, or may want to focus in on any currency that has been produced by one country. You can easily move away from this theme later in your collection; it simply gives you a starting point and focus to make the beginning stages of collection easier to handle.

Go Off Of Looks

One of the first coins or pieces of paper that you are going to choose should be a piece that is based completely off of looks. You want to find a piece that is going to capture your attention, make you interested in foreign currency, and hold your interest for future pieces. Even if the piece is not worth much and is something that nearly everyone can find with ease, collect it. It will start the spark that could continue on your love for foreign currency collecting.

Research

Once you have started off your collection, dive deeper into foreign currency through research. You will want to look at coin collecting or paper money collecting and understand interesting coins and pieces that may be hard to find. You will also want to know how to identify counterfeits that you may not have otherwise recognized.

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Finally, you are going to want to expand your foreign currency collection beyond your original theme. Once you have started to collect the currency for one theme, you want to go beyond it. Sticking with one solid theme for too long may cause you to lose interest or may keep you from currency pieces that will make you happy. In the end, you will want to collect as many pieces as you can regardless of a theme.

It is important for you to start small and to consistently grow your foreign currency collection. The slow start will help you to become more familiar with the market and the currency itself. You can then expand your collection to collect all of the different things that are going to make you happy with your actual collection. Utilize these tips to simply make your foreign currency collection as impressive, interesting, and intriguing as possible.

Photo Credits: DanieVDM

Originally posted 2011-03-19 08:29:07. Republished by Blog Post Promoter

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Avoid Basement “Slabbers”

When you are considering doing business with any rare coins dealers you need to first find out if they are associated with one of the top three recognized coin grading services or “slabbers” as they are know in the coin world. The top three coin graders in the United States are PCGS, or Professional Coin Grading Services, NGS, or Numismatic Guaranty Corporation, and ICG, or Independent Coin Graders. All of these services use top currency experts called numismatic experts to grade coins. Other companies which are staffed with numismatic experts are referred to as basement slabbers. Basement slabbers generally overcharge to rate a coin and the rating they give are often inaccurate and nit recognized by coin collecting experts.

Online Dealers

One of the first places people tend to go to these days when it comes to collecting anything is the internet. While the internet can be a great source of information about collectible items such as coins it may not be the best place to find rare coin dealers. This is because many of those who sell coins online are not associated with the top three recognized U.S. coin graders. Most of the online dealers of coins use basement slabbers to determine the value of the coins they are selling. The result is that people often end up overpaying for a coin through an online dealer or they sell them a coin for far below the coins value.

Ask Questions

Before you go into any of the coin dealers you may be considering you will want to do some research about the type of rare coins you are going to look at. While you are there start by asking the dealer questions about the coins which you already know the answer to from your research. This can help you in determining if the dealer knows what they are talking about and whether or not they are trying to mislead you.

If a dealer tries to avoid your questions and seems to be trying to stop you from asking anything then they may not be a dealer you want t do business with. Remember that reputable coin dealers will encourage you to ask question about rare coins. A reputable will be happy to answer any questions their customers have because they are looking to create a long term business relationship with you instead of just trying to rush you into one quick sale.

Photo Credits: chrstphre

Originally posted 2010-08-16 04:34:05. Republished by Blog Post Promoter

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The methods which you will use to get the valuable coins you want include going to antique stores. This is because most antique dealers do not know what they have in their hands when they have rare coins. You can also find good coins cheap at the flea market. One last place where you can practically steal coins from people is through the garage sales which go on in most towns throughout the year. You will have to spend some time to find these great coins, but when you do find them, you will be able to get the bargain of a lifetime.

Antique Shops

There are many antique shops which will carry the coins that you want to buy. They have the old coins just because they are old. This does not mean that they know what they have. They may even be in slabs and everything with grades attached to them. This will allow you to get the coins you want ready to go. You will not even have to spend the money to get them appraised because the work has been done for you.

Flea Market

The flea market can be hit and miss because you will often find nothing at the market at all. People think they have something and they do not. Every once in a while you will find valuable coins which will blow the market out of the water. You will simply have to sift through a lot of stuff in order to get to the coins which will be worth buying. If you run into a seller looking to sell something well above its value, you might want to show them the current market price for the coin so that you will be able to talk them down to a more reasonable price.

Garage Sales

The American dream is to keep getting more stuff but eventually you need to clear some space. This is when people have garage sales. Often you will find a garage sale which has valuable coins either because the seller does not know what they have or the person who collects the coins is unaware the coin is being sold. Either way you will be able to get a great score at a roadside store meant just to clear out some room in the garage or the attic. Try to pay a decent price.

Photo Credits: Zevotron

Originally posted 2010-08-31 08:38:46. Republished by Blog Post Promoter

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Many people will go through an internal debate when they think about collecting paper money. Taking a look at both the positive and negative of collecting this money will help you to better understand the right move for your own personal collection.

For Collecting Paper Money

Those who are for collecting paper money have multiple things that they are interested in and intrigued by. For some, paper money is far and above coin money in terms of design. Paper money simply has more space to cover and is on a medium that is easier for more interesting designs. You will find different colors on paper money as well as artful depictions of the history of the country that minted the paper.

Paper money also has a higher value than many coin pieces, simply because of how rare it is. Those who are looking to make serious investments in their collection are often going to look to add paper money to that collection.

Against Collecting Paper Money

People who tend to avoid collecting paper money often do so because of this rarity. They know how hard it can be to find the paper money and know how expensive the money will be because of it. While you can collecting more recent pieces of paper money for lower prices, old paper money collecting is for those who have money.

Paper money can also be more difficult to take care of. While coins are metal and can hold their shape and form, paper can be damaged by anything from sunlight to the human touch. Those who collect paper money have to be more careful with their collection and must pay special attention to how they money is handled and cared for. This is going to bring extra expenses that some simply do not want to pay.

For some, the rarity of different pieces of paper money is enough to make them want to jump into this form of collecting. For others, this is the exact reason that they do not want to get into collecting paper money. You need to look at the pros and cons of this debate and place them in your own pros and cons list. You may find that some of the more negative aspects of collecting old paper money intrigue you, or that the positive aspects are not enough to make you want to start collecting them. Take in the information and simply make your own decision as to whether or not you add this to your collection.

Photo Credits: kevindooley

Originally posted 2011-04-11 03:30:35. Republished by Blog Post Promoter

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