Coin Collecting - The Hobby of Kings

Should You Buy a Coin That's a Bad Investment?

Dan Hersam — Tue, 28 Aug 2018 07:00:00 UTC

I had an intriguing interaction with a reader who complained that this site had an ad for a coin that was a bad investment. They wanted me to remove the ad and I considered doing so at first, then reconsidered. There wasn’t anything misleading about the coin or the advertising, and that’s my usual metric for blocking ads.

You see, collecting isn’t just about making money (though it can be a nice benefit). Collecting is fun, even if you lose money. The joy of putting together a complete set can be intoxicating. And it’s not just for coins. Just because an object isn’t likely to increase in value doesn’t mean you shouldn’t buy it. A new car is an awful investment, but I’ve seen the excitement some people have after buying their first brand new car. If they have the money and are being responsible with their finances, what’s the harm?

I think the main issue we need to be careful about is education. If you are buying something as an investment but it has almost no chance of increasing in value, that’s a problem. The key is you need to be aware of whether you’re buying a coin to make money or to add an item to your collection.

I have several readers who like artificially colored coins. They know the color is fake, they’re overpriced and will likely not increase in value, but they love how the coins look. Who’s to say they aren’t allowed to buy knick knacks?

Next time you’re going to buy a coin or other collectible for an investment, do your homework and make sure it’s a wise move. Otherwise, enjoy the feeling of adding a new item to your collection and let the naysayers say nay.

The post Should You Buy a Coin That's a Bad Investment? appeared first on Coin Collecting - The Hobby of Kings.

An Illustrated History of United States Currency

Dan Hersam — Wed, 25 Nov 2015 10:50:52 UTC

This Gizmodo article shows how US Currency looked from the beginning:

All the way to the present day:

The post An Illustrated History of United States Currency appeared first on Coin Collecting - The Hobby of Kings.

The Life of a Penny

Dan Hersam — Mon, 14 Apr 2014 12:50:15 UTC

One of the favorite things to do when holding an old coin in my hand is to imagine the number of people and historical events that little metal disc had witnessed and experienced.

Chris Ware shares his take on the life of an ordinary penny, and of the thread weaved through several lives.

The post The Life of a Penny appeared first on Coin Collecting - The Hobby of Kings.

The Best Places to Sell Silver Coins

Dan Hersam — Mon, 18 Nov 2013 09:00:00 UTC

Before attempting to sell silver coins, you’ll need to organize your collection into collectible and rare coins; commonly referred to as “numismatic coins,” and those that will sell primarily for their silver value. You can learn more about this step in a previous article, How to Determine Value When You Sell Silver Coins. We’ll expand on what we covered in our previous article to discuss where to sell your coins after you’ve determined what you have.

Options for Selling Silver Coins Thanks to the rise of the internet, you now have more options than ever when you want to sell silver coins. However, not all options will bring you the highest value, and you may be left trying to strike a balance between a fast, easy transaction and the most profitable option.

Coin dealers are still a popular choice among investors and collectors ready to sell a collection. However, the truth is, not all coin dealers are equal – we’ve seen this first-hand. While you’ll have no trouble locating plenty of coin dealers, finding one who is qualified and honest is a bit harder. You may wish to make several smaller sales with the dealer prior to selling a larger collection or more valuable silver coins to confirm that the dealer is knowledgeable, transparent, and offers competitive rates for your silver coins.

Reputable coin dealers also provide appraisals and evaluations of your coins, an important service if you have valuable coins. Be sure to look for dealers that are members of reputable organizations, such as the American Numismatic Association and Better Business Bureau, to give you some recourse and ensure that they are following a strict code of ethics in the transaction. In general, selling to a dealer is much safer than selling to an individual; especially when selling a valuable collection. You can research coin dealers through the Better Business Bureau, trade associations, online review sites and more. Keep in mind that dealers will buy at wholesale prices, not retail.

Turning to coin dealers is not your only option, however. Additional options you may consider include:

Online brokers, who can make it easy to sell coins online. Proceed with caution, however, and only complete a transaction with a reputable online broker. Also be sure that all fees are agreed to in advance, as you don’t want any surprises after the fact.
Coin collectors, if you have rare, collectible coins. There are always collectors searching for a specific coin or distinct type of silver coins, and many create listings in forums, social networking websites, coin collector communities online and elsewhere. While you may get a high price, the process can take a while and you will be taking the risk of doing business with someone you don’t know.
Scrap dealers, if you have “junk” silver coins. This may be a good option once you’ve removed the rare coins from your collection and are content with receiving the melt value of your coins. However, stay away from “we buy gold” stores and pawn shops, as you’ll likely only receive a fraction of the coin’s value.
Auctions, both live and online, work well for large and diverse collections as well as individual rare coins. However, auctions can occasionally be cost prohibitive and there’s no guarantee that you’ll realize your targeted price for the items.

Is a Coin Appraisal Necessary? Finally, a coin appraisal isn’t just something used merely for insurance purposes – it can also be used to negotiate a deal when you sell silver coins. Reputable coin dealers should be willing to provide a free appraisal; assuming that they are being provided with an opportunity to purchase the collection. Additionally, there are several coin appraisal websites that will give you a rough idea of the value of your silver coins, but you may want to turn to a professional appraisal from a coin dealer to give you the most accurate value for your coins. Having coins professionally graded by one of the top tier third party grading services, such as PCGS and NGC can help to remove a good bit of the subjectivity with respect to the grade and value of your coins. However, keep in mind that having coins professionally graded involves an upfront fee to join the organization, mailing the coins in to have them certified, and waiting for the coins to be returned, which can be a lengthy process. Paying for an unbiased coin appraisal from a professional that is not involved in the business of buying or selling coins is another potential option to explore if you’re not satisfied with the appraisal conducted by your coin dealer.

The post The Best Places to Sell Silver Coins appeared first on Coin Collecting - The Hobby of Kings.

How to Determine Value When You Sell Silver Coins

Dan Hersam — Mon, 11 Nov 2013 06:29:12 UTC

When it’s time to sell a portion or your entire collection of silver coins, you undoubtedly want to get the best price possible. The coin collecting community as a whole uses a series of time-tested methods, but the first and most important step is knowing what you have and what it’s worth. Unfortunately, too many people overvalue the majority of their collection and undervalue the truly rare coins. When you know the value of your coins, you’re in a much better position to recognize a reasonable offer when you sell silver coins to a dealer.

Separating Your Collection The first step is sorting your collection to separate the numismatic or collectible coins, which should be valued individually and separately from your bullion coins. This includes silver coins with valuable mint marks, rare dates and those in high end condition. Evaluate each coin to determine which have collectible value and be sure that special care and attention are paid to these coins during the coin appraisal process.

US dimes, quarters and half dollars minted prior to 1916, if not degraded or heavily worn, oftentimes carry a premium over their silver value; even in circulated condition. Silver coins minted between 1916 and 1940 have a good mix of common and rare dates, so you will need to check the mintmark, date and condition of each. A good example is the Standing Liberty quarter minted from 1916 to 1930; many of which are valued at prices above their silver content.

With the exception of a few examples, Washington quarters, Franklin halves and silver Roosevelt dimes are considered common date coins, which are occasionally referred to as junk silver coins in the industry. However, even common date coins in uncirculated condition can sell at a slight premium over their silver value.

Any coin types that are known to contain key date coins should be closely scrutinized. Because it’s easy to overlook a rare coin, refer to leading coin resources and price guides for each series.

Calculating Value Once the collectible coins are separated, you can research the value of each coin individually, but keep in mind when selling silver coins to a coin dealer that you will likely be paid wholesale prices, which can differ substantially from prices in popular price guides, such as “The Red Book.”

The following factors can help you to determine the value of your collectible or numismatic coins:

Demand. Even fairly high mintage coins can demand a premium if they’re popular among coin collectors or numismatists.
Condition. Sometimes very small differences in the coin’s grade can make a huge difference in value, but not always. For example, a 1926-s Standing Liberty quarter may sell for $3 in good condition but $650 in uncirculated condition, and possibly even more in choice uncirculated condition.
Scarcity. Typically speaking, the rarer the coin, the higher its value.

To determine a coin’s value before you sell silver coins, start by identifying the coin. Then estimate its grade, check for a mint mark and research the value of the coin. Be sure to have realistic expectations, as retail prices are rarely paid by coin dealers.

Once the collectible coins are individually valued, you can determine the value of the rest of your collection primarily by calculating its silver value. You can use a silver coin value calculator for this by selecting the U.S. coin, entering the quantity and receiving the current silver price.

If the calculator doesn’t have the coin available, or you’re unable to find a reliable calculator, you can look up the coin’s weight and purity to determine its silver value. For example, a Barber Dime 1892-1916) is 90% silver and weighs 2.5 grams. This means that its actual silver weight (ASW) is 0.07238 ounces.

To determine the coin’s actual silver value, multiply the ASW by the spot price for silver. If you need to calculate the ASW of a coin, take the weight in grams, multiply by the fineness of the coin (e.g. 90%) and divide this figure by the total number of grams in a troy ounce (31.1034768).

With this information, you should have no trouble sorting through your collection to spot rare or collectible coins. You can then calculate the silver value of the remainder of your coins. While it’s a time-consuming process, following these steps will prevent you from overlooking a rare coin that may be worth substantially more than the coin’s silver value.

The post How to Determine Value When You Sell Silver Coins appeared first on Coin Collecting - The Hobby of Kings.

Why A Dollar Bill in Your Pocket Could Be Worth Thousands

Dan Hersam — Tue, 17 Sep 2013 17:36:47 UTC

There are all sorts of collectors, as you well know. But even in the world of coin and currency collecting, there is a new kind of collecting that I’d never heard of before. They don’t care about the condition of the note, how old it is or even the denomination. These collectors are after low or otherwise interesting serial numbers.

Low serial numbers, from 00000001 to 00000100, are sought after, as well as palindromes (23599532), solids (with a digit that repeats eight times), seven-of-a-kinds (66666665), ladders (45678901) and important dates (12071941). The criteria get even more obscure from there: Undis is seeking a pi note, with the number 31415927. But the more apparently jumbled the digits, the less likely it is that anyone with the bill in their wallet will ever notice. Which is too bad when you consider how much these fancy numbers can sell for--quite a bit more than the bill's face value, in some cases. Right now, on Undis' website, you can buy a $1 bill with the serial number 00000002 for a whopping $2,500. If that sounds like chump change, consider that a $5 bill with the number 33333333 goes for $13,000.

I can only imagine how many bills may have passed through my hand that I never thought to examine…

(via kottke)

The post Why A Dollar Bill in Your Pocket Could Be Worth Thousands appeared first on Coin Collecting - The Hobby of Kings.

Don't Sell Your Silver Coins Until You Read This Article!

Dan Hersam — Tue, 27 Aug 2013 08:00:00 UTC

As a coin dealer, we regularly meet with customers who are interested in buying and selling various types of silver coins. Our customers tell us that they have no problem finding online resources about purchasing silver coins, but that it is difficult to find anything online regarding the specifics of selling silver coins. So we thought we’d offer this article to highlight some of the most common silver coins that we purchase, how to determine if you have a valuable silver coin, how the coins are typically sold and how to maximize the value of your transaction when you sell silver coins.

90% Silver Coins

90% silver coins are by far the most common coins that we buy and sell. For those of you who are new to the coin industry, 90% silver coins, commonly referred to as “junk silver” coins, are U.S. dimes, quarters, and half dollars minted in 1964 and earlier. The most common 90% silver coins are Roosevelt and Mercury dimes, Washington and Standing Liberty quarters, and Kennedy, Franklin and Walking Liberty half dollars. With the exception of a few key date coins, most of these coins are bought and sold primarily for their silver content. They’re oftentimes sold by the roll or based on the face value of the coins, such as in $50, $100, $250, $500 or $1,000 face value bags. Some key date 90% silver coins:

1916-d, 1921, and 1921-d Mercury dimes
1932-d, 1932-s, 1937-s Washington quarters
1916, 1919-d, 1919-s, 1920-d, 1921, 1923, 1924-d and 1927-s Standing Liberty quarters
1916, 1916-d, 1921, 1921-d and 1938-d Walking Liberty half dollars

American Silver Eagles

American silver eagles are some of the most recognized and beautiful government issued silver coins in existence. While they’ve only been minted for 27 years, millions of these coins have been produced, and are in demand by silver investors and coin collectors alike. Historically, only the 1996 silver eagle has been considered a key date coin; however, as of late, the 1986 silver eagle in particular has increased in popularity, and also sells at a higher premium over most other American silver eagle bullion coins. American silver eagle bullion coins are typically sold in rolls of 20 coins. American silver eagle proof coins sell at a much higher premium; typically 1½ - 2 times the rate of standard American silver eagle bullion coins. Key date American silver eagle proof coins include those minted in 1993 and 1994. American silver eagle proof coins are commonly sold individually with the original government packaging.

Morgan Silver Dollars

You can’t have a discussion of the most popular U.S. silver coins without considering Morgan silver dollars, which may be the most beloved American silver coins ever minted. Minted from 1878 - 1904 and again in 1921, Morgan silver dollars are 90% silver coins and contain .774 troy ounces of fine silver. Because these coins contain collectible value in addition to their silver value you should expect to receive more than the melt value when selling silver dollars - especially for key date or uncirculated specimens. Key date silver dollars are lower mintage silver dollars; typically with production values of less than 1,000,000. Additionally, uncirculated silver dollars, even when common date coins, should sell at a premium. All Morgan silver dollars minted in Carson City, which can be identified by a “CC” mint mark, are considered key date coins, as well as most Morgan silver dollars minted from 1893 - 1895. The 1895-P Morgan silver dollar is considered to be the “king of silver dollars,” and sells for five figures even in average circulated condition.

Peace Silver Dollars

While not quite as popular as Morgan silver dollars, Peace silver dollars are beautiful coins in their own right and sell at a premium over their silver value. Peace silver dollars were first minted in 1921 as a high relief coin, but the mintage of these coins proved to be too difficult, and the U.S. Mint reverted back to standard relief coins the following year. Peace dollars were subsequently minted from 1922 - 1928 and again in 1934 and 1935. The 1921, 1928-P, and 1934-S Peace dollars are the lowest mintage, and subsequently most valuable Peace dollars minted. As with Morgan silver dollars, Peace silver dollars in uncirculated condition sell at a premium over average circulated condition coins. While key date coins are typically sold individually, most common date Peace silver dollars are bought and sold in rolls of 20 coins.

We hope that this brief article has provided valuable information that you can use the next time you find yourself needing to sell your silver coins or wondering which silver coins would be the best investment. While these are the four most common types of U.S. silver coins that we see, there are many other silver coins that are highly valuable, so be sure to do your due diligence to ensure that you receive a fair price for your coins.

The post Don't Sell Your Silver Coins Until You Read This Article! appeared first on Coin Collecting - The Hobby of Kings.

6 Reasons Why You Should Consider Establishing a Relationship with a Local Coin Dealer

Dan Hersam — Thu, 25 Jul 2013 20:13:12 UTC

As a local Atlanta-based coin dealer, we are strong believers that relationships are the key to a coin dealer’s success as well as the success of their customers. While technology and e-commerce have changed the way that people conduct business, there are still some businesses and their customers that benefit from face to face transactions, such as local coin and bullion sales. While establishing local relationships isn’t always possible; especially for individuals that live in more rural areas, individuals that live in or near large metropolitan areas should have plenty of potential coin dealers from which to choose. In this article, we’ll highlight six reasons why we believe that establishing a local relationship with a coin dealer is likely to benefit most coin collectors.

1. Preferred Buying Rates

A common misconception is that the best prices for coins and bullion can be found online through large national coin companies or auction sites, such as eBay. While there’s no question that many terrific deals can be found online, local coin dealers that place a high emphasis on customer relationships are often willing to meet or beat leading online rates. However, these preferred rates are typically only offered to regular customers with whom a coin dealer has a long standing relationship. It’s in the coin dealer’s best interest to keep his or her valued customers happy, even if it means reducing their profit margins.

2. Preferred Selling Rates

Most coin dealers offer standard buying rates for specific coins, but they’re also willing to provide their regular customers with preferred rates. Whether an individual is slowly liquidating a coin collection from an estate, or a regular coin buyer is interested in some profit taking, customers that have shown loyalty to a coin dealer are likely to receive higher prices when selling coins and bullion. If you don’t have a relationship with a local coin dealer, you should not expect to receive more than a coin dealer’s standard buying rates.

3. Early Access to New Inventory

Coin collectors know how difficult it can be at times to obtain newly released coins by the U.S. Mint or coins and sets that are in high demand in the marketplace. Coin dealers take pride in meeting the demands of their customers; especially their most loyal and valued customers, and oftentimes will notify their customers once they receive coins in stock that are on their customers’ wish lists. If you’ve ever wondered why your local coin dealer, with whom you have not established a relationship, never has the items in stock that you’re interested in acquiring, this is likely because they’re busy meeting the needs and demands of their regular customers.

4. Ability to Inspect Coins in Person

No matter how many pictures you see of a coin, or how high of a resolution camera is being used, the fact of the matter is that nothing compares to inspecting a coin in person. There are nuances that can’t be captured in a two dimensional picture, which could impact the price that you’re willing to pay for a coin. While most online coin dealers and auction sellers are fairly reputable, and are willing to offer a money back guarantee, this is not always the case. Even in situations where you’re offered a refund, often you’re required to pay the return shipping charges. There’s also the time and hassle of having to send a coin back and wait for a refund.

5. Immediate Delivery of the Coins

We live in an immediate gratification society, and even though many individuals are disciplined enough to wait for a coin or coins to be delivered, you’re not likely to find an individual that wouldn’t prefer to receive a coin now as opposed to later. Buying coins from a local coin dealer eliminates delays, as you shouldn’t pay for a coin unless you receive it in person. While there are exceptions, such as deposits made for special orders, more times than not, you can expect to receive a coin at the time of payment. This also eliminates the possibility of having coins lost or damaged in the mail. Even when coins are properly insured, there’s typically a delay involved before the delivery service will reimburse the buyer for the cost of the coins.

6. Privacy

In this day and age, nearly all of our purchases can be or are being tracked. While this data is typically compiled for marketing purposes to better meet our needs, some customers prefer privacy when it comes to their transactions. When buying coins or bullion online, typically payment is made by credit card, a wire, or other popular payment services, such as Paypal. While these are convenient forms of payment, the potential downside is that all of these purchases can be tracked by various companies and agencies. Local coin dealers respect their customers’ privacy, and while you shouldn’t expect your coin dealer to bypass any laws, they’re typically willing to keep transactions private to the extent that they’re able.

In summary, we’ve highlighted six reasons why you should consider establishing a relationship with a local coin dealer. Coin dealers are typically willing to provide their regular customers with preferred rates, both on the buy and sell side. They are also typically willing to provide their valued customers with early access to new inventory. Additionally, conducting business locally allows you to inspect your coins in person and take immediate delivery of the items. Lastly, if privacy is a concern to you, your transaction is much more likely to be kept confidential when conducting business locally as opposed to buying and selling online.

The post 6 Reasons Why You Should Consider Establishing a Relationship with a Local Coin Dealer appeared first on Coin Collecting - The Hobby of Kings.

90% Silver Coin Premiums Soar as Demand Continues to Outstrip Supply

Dan Hersam — Fri, 19 Jul 2013 09:00:00 UTC

U.S. 90% silver coins, consisting of dimes, quarters and half dollars minted in 1964 and earlier are currently the hottest commodity in the silver coin market. Commonly referred to as “junk silver” coins, historically, these coins have been bought and sold primarily for their silver content. However, since silver prices are currently depressed (having dropped nearly 50% over the past year), demand for these coins is near an all-time high, which has been driving premiums near record levels. The coin dealer wholesale market is seeing these coins trade at premiums in the 12% - 15% range, with asking prices in the retail market as high as 30% over melt value.

While all three denomination coins are currently in high demand, investors, in particular, are clamoring over 90% silver half dollars. Coin dealers are typically willing to pay an additional 3% - 5% premium for these coins, as there’s no shortage of interest for these coins. Of the 90% half dollars that are typically categorized as “junk silver coins,” Walking Liberty half dollars are in the greatest demand. Higher end versions of these coins are selling for as much as 50% over the melt value of the coins.

With premiums as high as they are, the case can be made to wait until the market stabilizes before purchasing them; however, the market will likely only stabilize once we begin to see higher spot prices. When this occurs, premiums will begin to drop, but will they drop enough so that the coins can be purchased at lower prices than today? This is unlikely, especially since the price of silver is near a three year low, so it appears as though silver remains a wise investment while prices remain depressed. Some experts believe that silver has bottomed, and is poised for a run up to $60 an ounce, but only time will tell.

If silver coin and bullion investors are hesitant to pay near record premiums, do they have any other reasonably priced silver options in today’s market? Surprisingly, premiums for American silver eagles have dropped over the past few months, and while the percentage over spot has increased, the nominal dollar amount of $3.50 to $4.50 over spot is now being seen again in the marketplace. This compares to premiums for silver eagles in the $6 to $8 range just a couple of months back. Most other fine silver offerings can be purchased at reasonable premiums; typically in the $2 to $3 range, with premiums on the higher end of the scale for name brand silver bullion, such as Johnson Matthey and Engelhard.

In summary, demand for 90% silver coins continues to outstrip supply, resulting in higher than normal premiums. However, since the price of silver is near a three year low and premiums will likely only subside as the price of silver goes up, the case can be made to acquire them at their current levels. On the other hand, premiums for other silver bullion offerings are near their historical average, so the cost conscious silver coin investor may want to explore some other lower premium offerings available in the marketplace.

The post 90% Silver Coin Premiums Soar as Demand Continues to Outstrip Supply appeared first on Coin Collecting - The Hobby of Kings.

Avoid These Three Potentially Costly Online Coin Buying Mistakes

Dan Hersam — Fri, 12 Jul 2013 14:15:26 UTC

Online coin auctions, such as eBay, offer coin collectors a wide variety of coin options at exceptional prices. In fact, coins can oftentimes be purchased for prices that are well below retail value; however, online coin buying can also be fraught with potential perils. Most online coin dealers are reputable and transparent firms that offer full disclosure on the condition of coins. However, some newer, inexperienced and less than reputable online coin dealers will attempt to mask condition issues or embellish the condition in hopes of realizing the full value for less than prime coins. In this article, we’ll highlight three common issues that we’ve seen over the years in hopes that coin collectors will avoid these pitfalls and improve their chances of receiving a coin that meets their expectations.

Cleaned Coins

The cleaning of coins is a common issue in the coin industry, and seems to be more prevalent with online auctions. While on the surface, a clean and shiny coin appears to be one that would be in high demand, that’s not the case, as coin collectors and numismatists prefer coins in their original condition. In fact, cleaned coins, which are considered altered coins, are worth substantially less than unaltered coins. Cleaned coins can be identified by their shiny appearance or their tone-free appearance, when in circulated condition. This differs from uncirculated coins that have somewhat of a frosty or milky appearance, which is referred to as mint luster.

Rim Issues

Images of coins usually accompany online auctions, but when posted, they’re typically only of the front (obverse) or reverse side of the coin, leaving individuals to guess as to the condition of the rim or edge of the coin. Since many coins that are now being sold as rare or numismatic coins were at one time used as currency, it’s not uncommon for the edges of the coins to have dents, nicks or gouges from being dropped. In particular, coins composed of precious metals are more susceptible to damage than current coinage, as gold and silver is softer than metals used in modern coinage, such as nickel and copper. While rim issues don’t have as much of an impact on the price of coins as cleaned or altered coins, coins with rim issues should sell for less than coins without such issues. When in doubt, ask the seller to describe the condition of the edge or rim of the coin, or better yet, request photos.

Misgraded Coins

More times than not, the grade of coin stated in an auction or on the holder that houses the coin exceeds the actual condition of the coin. This is not an issue with certified coins; especially those that have been graded by reputable third party grading services, such as PCGS or NGC, but is a common occurrence with raw or ungraded coins. The condition of coins is commonly embellished in hopes of realizing a higher final value for the coin. Most numismatic coins are condition sensitive, and one grade level difference can result in the value being hundreds or sometimes even thousands of dollars more. We recommend that you don’t rely on the grade of the coin stated in the auction, but that you evaluate the condition of the coin for yourself to arrive at an estimated value. An excellent resource is Making The Grade: A Grading Guide to the Top 50 Most Widely Collected US Coins by Beth Deisher, which provides detailed pictures and descriptions of all grades of coins for the 50 most popular U.S. coins.

In summary, buying coins online from auction sites such as eBay can save the coin collector a substantial amount of money over retail, but only when a disciplined approach is taken. Be sure to thoroughly inspect all pictures to determine if the coin has been cleaned, inquire as to any rim issues that may affect a coin’s value, and last but not least, don’t rely on the grade of coins provided for raw or ungraded coins, but inspect the condition of the coin yourself and assign a conservative grade. Following these steps should improve your chances of having a successful online buying experience.

The post Avoid These Three Potentially Costly Online Coin Buying Mistakes appeared first on Coin Collecting - The Hobby of Kings.

Priceless Penny Paintings

Dan Hersam — Thu, 13 Sep 2012 09:22:57 UTC

Some would argue that a coin’s design is a work of art all on its own, but Jacqueline Lou Skaggs thinks they need a little more color. Her gallery of paintings consists of oil paintings on the canvas of the Lincoln Cent. They look incredible, and I can guarantee they’re worth way more than their numismatic value.

(via kottke)

The post Priceless Penny Paintings appeared first on Coin Collecting - The Hobby of Kings.

Bitcoin Digital Currency Has Competition, Eh?

Dan Hersam — Mon, 07 May 2012 11:24:40 UTC

Bitcoin and its ilk may be coming in the not-too-distant future, either working with or even in place of, the coins and currency we collect. The Royal Canadian Mint isn’t taking this lying down. They’ve developed MintChip, a digital currency that some are calling a competitor to Bitcoin. Touted as “better than cash” (at least for Canadians), they’ve issued a challenge with prize money for software developers who write apps that use the currency.

Who knows where this particular project will lead, but the larger takeaway is a trend away from physical objects to represent our money and a move to the ethereal as our society embraces the digital realm.

(via Wired)

The post Bitcoin Digital Currency Has Competition, Eh? appeared first on Coin Collecting - The Hobby of Kings.

Farewell to the Canadian Penny

Dan Hersam — Thu, 29 Mar 2012 20:18:45 UTC

The Canadian government must be reading this site. The last post was about getting rid of the penny, and now they’ve gone and done it.

According to Wikipedia, “there have been repeated talks about getting rid of the penny as it is estimated that it costs the Royal Canadian Mint 1.8¢ to produce a 1¢ coin, even though the Royal Canadian Mint claims it costs only 0.8¢ to produce a penny.”

The 2012 Canadian federal budget was released today and it’s doing away with the coin for an estimated annual savings of $11 million. For all the folks living in northern states, you may stop getting the little buggers in your change now.

The question is, will Canadians see this as a chance to hoarding the coin, or do they even care?

(via Consumerist)

The post Farewell to the Canadian Penny appeared first on Coin Collecting - The Hobby of Kings.

Getting Rid of the Penny

Dan Hersam — Sat, 14 Jan 2012 13:58:41 UTC

This video gives a brief overview of the “penny” (more correctly known as the one cent piece) in the United States, and makes a compelling argument for its demise.

The post Getting Rid of the Penny appeared first on Coin Collecting - The Hobby of Kings.

Collectors Universe Acquires Coinflation.com

Dan Hersam — Thu, 15 Sep 2011 15:27:41 UTC

(Newport Beach, California) – Coinflation.com, an increasingly popular informational website that provides the values of precious metals and the intrinsic values of gold, silver and base metal coins, has been acquired by Collectors Universe, Inc. (NASDAQ: CLCT), the parent company of Professional Coin Grading Service.

“Adding Coinflation.com to our family of offerings really makes sense. There is tremendous synergy between Coinflation.com, PCGS.com and PCGSCoinfacts.com. Together, we’ll become the ultimate destination for anyone seeking information about coins and precious metals,” said Don Willis, PCGS President.

Coinflation.com was founded in 2004 by Alec Nevalainen who now has joined Collectors Universe as part of the transaction. The number of unique monthly visitors to the website has more than quadrupled in the past year to over 640,000.

“Coinflation’s goal is to help people discover the metal value of their coins, which in many cases is the absolute minimum value. Due to the recent media attention on gold and silver prices, many unscrupulous buyers have appeared offering ‘buy’ prices significantly below melt value, particularly for pre-1965 silver coins. Coinflation helps people make informed decisions when buying or selling gold and silver coins,” Nevalainen explained.

“There’s also an emerging group of collectors who accumulate base metal coins, such as the pre-1982 copper cent which has a metal value of 2.6 cents and the current nickel with a value of almost 6 cents.”

Collectors Universe President and PCGS co-founder, David Hall, stated: “Alec Nevalainen, in a very short period of time, has built what I consider to be the ultimate metallic value web site. Gold and silver coin information is becoming very important as U.S. citizens wake up to where the value of the U.S. dollar is heading. We have a long way to go to match the rest of the world’s attitude about gold and silver, but we’re starting to ‘get it.’ Coinflation.com is right in the sweet spot of the ‘What are my gold and silver coins worth?’ info space. I literally use coinflation.com every day. And the name, coinflation, says it all!”

Collectors Universe authenticates and grades collectible coins, trading cards, event tickets, autographs, memorabilia and stamps, and compiles and publishes authoritative information about United States and world coins, collectible trading cards, sports memorabilia and collectible stamps. The company also operates CCE, a dealer-to-dealer Internet bid-ask market for certified coins, and the Long Beach and Santa Clara Coin, Stamp & Collectibles Expos.

The post Collectors Universe Acquires Coinflation.com appeared first on Coin Collecting - The Hobby of Kings.