How to Tell if A Coin Has been Cleaned?

Freshly minted coins have a luster that makes them look beautiful, but freshly minted coins are not of much use to a collector, as the value of a coin increases with age. If you find a coin which is a few years or decades old, it would most certainly have lost its luster, but collectors value it much more than a freshly minted coin, although it does not look half as beautiful. The value of a coin is not in its luster and shine but in its vintage.  

If a vintage coin gives a lustrous look, in all probability it has been cleaned. Cleaning a coin is the surest way to kill its value to a numismatist. When a coin is minted, because of the pressure applied, on the planchet some molecular changes take place resulting in a flow of the metal which gives rise to a pattern on the surface of the coin called cartwheels. These are extremely delicate line patterns which are formed and are clearly visible under a microscope. Some of these cartwheel patterns get damaged due to natural use of the coin, however they are not totally destroyed.  

If a coin has been cleaned, it is a sure shot way to destroy the entire pattern and thus the value of the coin. Numismatists do not mind if the coin is covered in dirt and grime and has stains and does not have the looks of a new coin, as long as the cartwheel patterns are present. The older the coin, the more valuable it is but if it has been cleaned, then it will at best fetch the intrinsic value of the coin and will not classify as a collector’s object. 

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Categories: Silver Coins Tags: coin collectors, gold coins, investing in silver, morgan dollar, silver and gold, Silver Coins | 1 comment

How to Tell If Your Coin Is Silver?

Collecting coins is a great hobby and many people are engaged in it.  A few people are very interested in collecting rare coins.  Many people are engaged in collecting gold and silver coins.  They tend to resell it when the market rises or after a few years go by.  Silver coins are often found mixed with copper and nickel.  So those who are often engaged in silver coin collection need to look into the purity of the coin first before buying or resale.  The common question is how to tell if the coin is of pure silver?  There is also a question as how to find out the coin is silver?  The best thing to do is to make sure the coin has a certification.

There are a few test people like to do “ring test”, “Tissue paper test” and “specific gravity test” to find out whether its a silver coin or not. Many use the date and denomination mentioned in the coin to determine if its silver.  The coins like dimes, quarters, halves and dollars minted before 1965 are found to contain 90% silver.  Half dollars have found to contain 40% silver.   The coins dimes, quarters and dollars minted after 1965 have no silver in them.  They have only copper and nickel in them.  Cents have never been made in silver.  All cents are made using copper and steel.  Foreign coins are very difficult to deal with.  We can use the date and denomination as a clue in the deal.  

One Test Method:  Carefully balance the coin flat on the tip of one finger, then use something like a pen to gently strike the edge of the coin. We will hear a melodious ringing sound which should gradually fade away. If the material is copper etc we will get a higher pitched ‘tinny’ sound which doesn’t last as long. Obviously it helps to have something to compare the sounds with. I tried this method with two coins. One was a 1964 with 90% silver content, and the other was a 1980 with 0% silver content. Both coins looks the same (except for the metal color) but there was a very noticeable difference in the ringing sound produced. The method isn’t foolproof, but it doesn’t cost anything and is easy to do. 

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Categories: Silver Coins Tags: coin collectors, Franklin, gold, gold coins, Kennedy, Morgan, silver, silver bars, Silver Bullion, Silver Coins | 1 comment

Investment Coins, Collecting or Hobby?

Hobbies are something which makes us forget about time and other problems for the moment.  Writing, Singing, Dancing are common hobbies and only a few convert those hobbies into a career.  Like wise coin collection is a great hobby.  We go in search of coins and we research about coins.  We create a showcase for all the coins we collected. There are many steps you have to take to preserve the coins you collected.  The coins must be kept in a protected wrappers or something like that.  

Protecting your coins is as important as collecting them.  There are many albums and flips available to store your coins.  There are many people who have turned their coin collecting hobby into an career just like a writer or singer. Internet has helped to helped to enhance their career.  Many coin collectors share their knowledge in their websites so that new enthusiasts learn much more about it.  Many resell the rare coins they collected for a higher price in sites like eBay and others.  Thus they turn their coin collection into a ebusiness. 

No matter where you purchase your coins from, make sure that you select coins that will hold your interest.  Don’t just loose yourself in the investment, but have fun while doing it.  These are going to be coins that you may pass down through your family tree if some have not been passed on to you already.  Lastly, you’ll want to set aside an area in your house to keep all your coins.  Make sure that you read up on how to store them and clean them.  Remember, it’s not always the bright and shiny new penny that you want.  So take extra care before you clean any coins because you may decrease their value. Enjoy!

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Categories: Silver Coins Tags: coin, coin collection, coin collectors, Coins, collection, Dollar, Morgan, morgan dollar | No comments

Should I Invest In Silver Coins Today?

Throughout the ages, silver has been the greatest currency and still it has not lost its fame and value. The main reason is that money is available in abundant and so it easily loses its value. Silver value would increase over the years. The history and statistics has recorded that gold and silver have raised its value in years.  However there are certain guidelines you must need to know before investing in silver.  Otherwise investing in silver might not do well. Silver Bullion bars and coins are best to invest because they have specific standards and each bar would be marked.  Note that when you buy a silver bar, it should have a stamp with the amount of silver content it has.  

These bars and coins have a great resale value in the future due to the fact that its follows standards and the amount is clearly mentioned.  Many of them invest their money in silver stocks so called commodities.  While it can be a better option but still investing in silver bars and coins are preferred due to fact that you have the silver coin or bar in your hands.  The history has always shown that the value of silver and gold has always increased over the years. Investing in silver should be looked as a “Long Term Investment” 

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Categories: Silver Coins Tags: coin, currency, gold, investing in silver, Kennedy, silver and gold, silver bars, silver coin, Silver Coins | No comments

What Are The Best Silver Coins For Investment?

The best silver coins for investment, many experts say, are so-called “key date” coins issued by the U. S. mint.  These are coins of a specific date which are now rare or are available in very limited supply.  You want the very best grade you can find that you can afford to buy.  If you can’t come up with $1,000 or more per coin (for key dates in the higher grades), you can obtain more common silver coins — again, in the best grades you can afford.  However, these more-common coins will probably not appreciate in value as much as key date coins would.  Many experienced coin collector/investors choose to accumulate pre-1965 U.S. silver coins (which were 90% silver), and silver coins from foreign countries, all in high grades.  

These are probably the best choices for the average person who has to operate on a modest budget.  Most silver half dollars (50-cent pieces) — including Walking Liberty, Franklin, and silver Kennedy varieties — are thought to be undervalued at the present time; but again, buy only the higher grades.  Another area of coin investing you may wish to consider are the so-called “bullion coins,” (e.g. Silver Eagles).  The U.S. Mint sells proof and mint-marked versions of such coins on its Web site.  They contain the same bullion purity content that the regular coins do, but they were issued in limited numbers and were struck to a higher standard of quality.  These offer a double potential: the precious metal they are made from will always be worth bullion value, and in all likelihood such coins will increase in value due to their rarity.  

 

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Categories: Silver Coins Tags: cent, coin, Coins, collecting coins, collector, Franklin, Kennedy, Seated, silver, Silver Bullion, Silver Eagles, silver values | No comments

How To Build Your Silver Coin Collection?

With silver coins scarce nowadays in your pocket change, the traditional ways of beginning a collection are now lost. In the old days, kids interested in coin collecting could simply go to grandma and ask for a few coins, usually of one denomination or another. Today, kids who want to start collecting coins of a certain vintage, minted before the government removed the true silver coins from daily circulation, may have to find a piggy bank that an old relative hid in the attic. Of course, you should always have permission to take silver coins.  

They have value far beyond the coins you dump into the vending machine.  For those adults who are more solvent, there are several places to located silver based coinage, but these grab bags of coins are likely to be more expensive and also likely to have no rare dates.  Those are likely culled from any seller’s offerings.  The obvious place to look is on an on-line site.  Several well-known ones may be safe, but you never can be sure what you will receive in the mail from an online purchase.  Make sure they have a solid return policy in place. 

Let’s face it: you will want to look at the silver coins before you fork over your paper cash to purchase coins.  It is highly likely you will be able to determine if the coin meets your needs.  If you are a total newbie to the concept of coin collecting, you will want to check for a reputable dealer who is offering assorted silver-based coins for sale.  You may find specific dates, whether dimes, quarters, halves, or dollars, but these will surely cost a premium, even if the date and mint markings are not rare or collectible.  And, if you do find some silver coins, please do not use them to buy a snack in the vending machine.  So, don’t carry your genuine silver coins in your pocket–ever. 

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Categories: Silver Coins Tags: Coins, collecting coins, gold coins, Seated, silver, Silver Coins, Silver Eagles | 1 comment