by David Paul Ohmer

Some Of The Benefits Of Using Numismatic Coins

Numismatics is the study of money, medallions, banknotes, token coins, and stock certificates. It is believed to have been established in the time of Julius Caesar who wrote the first book on the subject. It is a very interesting topic because every medal or coin signifies a different era, culture, economy and/or politics.

Numismatists or the people who study the history and over all appearance of the above mentioned forms of currency are different from coin collectors. Unlike numismatists, coin collectors are only interested in collecting coins and the prestige that goes along with it; a numismatist may also be a coin collector and vise versa.

Over the years, coin collection has been very popular. The most common designs are famous people and animals to depict the era when the specific coin was released.

Numismatists are generally interested in use of money, its origin, appearance, variety and production. They aim to explore the role of the different kinds of currency in our history using mint information. Mint refers to the place or facility where the coins are manufactured. They also grade or authenticate coins to determine their market value. T facilitate this, coin grading system facilities were established.

At this time there are three major third party facilities that authenticate coins and/or paper money. These are: the PCGS or Professional Coin grading system located in Newport Beach, CA; the NGC or Numismatic Guaranty Corporation in Sarasota, Florida; and Paper Money Grading (PMG).

PCGS is a third party institution that was established in 1986, which grades and authenticates coins primarily for commercial purposes. They are an independent body providing expert opinion in rating a coin. NGC is also a third party institution offering services solely to numismatists. It was established in 1987. On the other hand, PMG is solely for authentication of paper money and a smaller department of PCGS.

When coin collecting was not as popular as it is now, there were only 3 categories into which a coin could fall: 1. Good – which means that the coin has all of the details intact; 2. Fine – which means that the coin has all the details intact and still has a bit of luster visible; and 3. Uncirculated – which means that the coin was never put on the market thus maintaining its original appearance.

However, today coin grading has evolved and is becoming more definite. They use a combination of letters and numbers that corresponds to the quality of a coin. The coin grading system of United States of America is the most comprehensive and recommended for beginners. An example of USA grading system: MS-60 to MS-70 which means that the coin is blemish-free and has good color and strike. In short it’s perfect!

Knowing how to grade a coin properly is not only a gift, it’s an art. It requires knowledge, exposure and obviously skills. For coin collectors, ability to grade a coin is a must because the value of a coin largely depends its grade.

Here are some components Numismatists use in coin grading

1.    Luster – it is a determining factor whether or not a specific coin has been circulated. To have a higher grade, a coin must be technically intact and free from any form of imperfection or blemish.
2.    Surface preservation. Abrasion on the surface of the coin and its location is a huge factor in grading a coin but it does not necessarily mean that abrasion can lower the grade of a coin. For example, if a good-looking coin has a severe abrasion on the back that is unnoticeable it will not count against the coin, but the issue may not be the same if the abrasion is located on the front or focal point.
3.    Strike. It refers to the coin designing process wherein the coin is being stamped onto a planchet. In overall grading, strike does not weigh a great deal.
4.    Coloration. For some coin collectors, preservation of original color of the coin has a huge impact on its value especially if it is a copper or silver coin.
5.    Eye appeal. Some coins may not be perfect but collectors may find them attractive, however, it still requires expert opinion to conclude that a certain coin is excellent in all aspects mentioned.

If you have no background in grading coins, you have no business in coin collecting and numismatics without employing help from the experts. Coins have been playing vital roles, not only in the lives of people who love collecting and studying them, but in society as they represent different eras in history. Whether you are selling, buying or collecting coins, you must acquire the necessary basic knowledge or information; so that you can be assured that it is accomplished properly.

Possibly related posts:

• Related posts on Benefits
• Studying the Benefits of Vegetarianism with the Seventh-day …
• Loans for People On benefits – Stress free financial deal …
• Benefits of Herbal Sleep Remedy | Care Our Health

• Related posts on Coins
• MTV Coins Ludacris As The #10 Hottest MC In The Game (Video …
• Pirates Ahoy Coins And PF Cash Hack october 2010 | Gaming
• Numis Network Team Gold And Silver Coins » Shopping Site Brings …

Some Dollar Coins and Your Coin Collection

When it concerns dollar coin collecting there are so many options available that you would be hard pressed to identify the best dollar coins t worth collecting. For one, the Flowing Hair Dollar, the original silver dollar that was made in only the second year after the start of US Mint operations was available in limited numbers totaling about one hundred and sixty-two thousand coins in all. It was later replaced with the Bust Dollar that was minted in the middle of 1795. However, the Flowing Hair Dollar is one of the coveted pieces and hence commands a very good price. You will be paying $5000 on up for this one dollar coin.

Dollar Coin Collecting: Draped Dollar

The Draped Dollar that was minted between 1795 and 1803 and had a number of varieties as well as errors in them. It is also a dollar coin that is worthy of being added to any dollar coin collection. There are only 19,570 coins of that make and the last batch was rolled out in 1803. The salient point about this dollar coin is that it is considered as being the most important of all dollar coins ever minted. Again pricey.

The popularity of the Draped Dollar cannot be denied and has led to many copies being made of it, most notably in China. So if you are considering buying these and adding them to your dollar coin collection then you should only buy them from reputable and recognized coin dealers.

Another useful dollar coin that lends itself well to dollar coin collecting is the Gobrecht Dollar that was minted after 1831. This is an expensive dollar coin, especially the 1836 version.

The Seated Liberty dollar coins are more in number than the Gobrecht Dollar and these 1840 born coins are worthy of your collection and now we are reaching a stage where these coins are priced for the less wealthy coin collector. In 1853, the Seated Liberty Dollar became very important in trading with China and was soon called the trade dollar. The minting of these dollar coins was finally stopped in the year 1870.

In the modern era, the US Congress has requested the minting of dollar coins to commemorate each US President as well as their spouses. And these are delightful and within everyone’s reach. You can actually get these coins from your local bank.

Look for these Presidential dollar coins for your collection, as there will be four different Presidential Dollar designs minted each year through the year 2016. These Presidential Dollar coins are only being minted in limited numbers and each will come out in intervals of thirteen weeks or so.

And for the more worldly dollar coin collection enthusiast don’t forget to check out the Canadian or Australian dollar coins.

[phpbay]Dollar Coin, 5, “”, “”[/phpbay]

Some Dollar Coins and Your Coin Collection related articles from the blogosphere…

Canada Boldly Goes With New Five Dollar Coin | The Toque

William Shatner To Be Minted Like No Man Has Been Minted Before Canada’s new five dollar coin features world-famous Canadian actor William.

Publish Date: 10/04/2010 13:38

http://www.thetoque.com/canadiana/canada-boldly-goes-with-new-five-dollar-coin/

Coin History – help with the research collections of coins …

The most sought after and most collected silver coin is the Morgan Dollar. Minted from 1878 to 1921 many millions were minted and large numbers of them, singularly and in caches, have been found with metal detectors. …

Publish Date: 10/13/2010 15:38

http://vermontdatingservices.zoosiab.com/coin-history-help-with-the-research-collections-of-coins-building-with-metal-detector.html

Should You Invest in Silver Dollar Coins?

The most popular silver dollar coin in the world is the American Silver Eagle. The Silver Eagle is the official silver bullion coin of the United States. It was first released by the United States Mint on November 24, 1986. …

Publish Date: 10/11/2010 6:30

http://investingingold.f2webblog.com/should-you-invest-in-silver-dollar-coins

Spare Change Ep01: Coin collecting do’s and dont’s (gold and silver coins too)

In this episode of spare change we talk about the things you need to know about coin collecting (Silver and gold coins too). We go over what type of American coins are out there to collect, what coin is worth what and how to avoid the scams when coll…