by: Robert Michael
Coin Collecting

Anyone can start collection coins and it will probably turn into a great hobby for you. Some coin collectors focus on all different types of coin collections while some collect coins from all over the world. Collecting old coins or ones from a particular country is also popular. There are some collectors out there who focus on coins that are not being circulated anymore. These coins are have no wear and are in mint condition. You will start collecting particular types of coins when you figure out what your specific interest is.

You should check out some reference books from your local library on collecting coins if you are wanting start this hobby. Find out if there are any clubs near where you live that you can join to help you start learning about coin collecting.

You’ll be amazed at the different places you might find coins for your collection. You are able to buy coins from coin dealers through your local coin shops and coin shows. This also gives you a chance to see a huge amount of different coins at one time.

Online websites are a great place for you to buy coins for your collection. Mail order is also an option to adding new coins to your collection. When buying coins online you should be very careful. Check out the dealers return policy and look over the coins carefully when you receive them to make sure it is what you ordered and in good condition. Check out the seller’s feedback rating if you buy coins through an online auction site. This will give you a good indication if other buyers have been happy with their items. It is very unusual for coins to be bid above their actual value so be careful when buying coins through an online auction.

There are other resources out there that are great for find coins at wonderful prices. Check out flea markets, craft fairs and antique shows because you never know what treasures you might find.

To prevent causing wear on the coins be very careful when handling them. Hold uncirculated or proof coins by the edges only. A coins value can be lessened if fingerprints are present. Start a good habit now of picking up your coins by the edges only. Make sure you always do this when handling someone else’s collectable coins.

A grade is given to collectable coins depending on their condition. The value will be affected by the grading of a coin. Objective criteria for grading can be found in different publishing but you can also pick up this skill yourself. You will need time, exposure to experienced collectors and deals and lots of practice.

Many great books have been published on coin collecting. Check out these resources at your bookstore to help you with grading, pricing guidelines and an introduction to collecting coins.

by: Mohammed Shomam

Coin collection is not synonymous with possessing as many coins as possible. What is important is the quality of the coins rather than the quantity of them. The coin’s grade is the yardstick to measure its quality. You can measure the grade by using a scale ranged between 0 to 70 which is the highest point grade. This point scale was introduced by Doctor William Shelby in his work “Penny Whimsy”. The classifications of coins according to grade are as follows:

1. Coins in “Mint State”:

According to Shelby’s grade scale, this is equivalent to a value of 60 to 70. In other words, the coins are blemish free. Majority of the coins of this type are new, shiny, uncirculated with absolutely no signs of wear n tear.

2. Coins which are almost uncirculated:

The point grade for these types of coins varies between 50, 55 or 58. It is very important for the coin collectors to be aware of the locations of the high points in a specific coin. An almost uncirculated coin is separated from the mint state coins by comparing the difference of the light reflected in other parts of the coin to the high points.

3. Fine coins:

Depending on the sharpness of the remaining details on the coins, fine coins can further be classified into FINE (12), VERY FINE (20, 25, 30 AND 35) OR EXTREMELY FINE (40, 45). The designs on the coins are still intact but the coins nevertheless show signs of wear n tear. The mint luster is intact in ETREMELY FINE coins. Very FINE coins resemble coins which have been in circulation for 1 to 3 years, with their minor features worn down by use.

4. Good coins:

This category can be further sub-divided into Almost GOOD, GOOD and VERY GOOD (12). THESE coins HAVE BEEN ALMOST completely WORN DOWN BY USE. THE DETAILS IN THE HIGH POINTS HAVE BEEN RENDERED nearly smooth and only weak designs can be observed. The VERY GOOD coins show full rims. The mint mark and the date must be visible in case of GOOD coins. The ALMOST GOOD coins are the most worn out ones.

5. Fair coins:

Any coin that can be identified is a FAIR C. Although worn out, they can still be distinguished as belonging to some or the other variety/type of coins.

6. Basal coin:

In this particular variety, the metals of which the coins are made can be distinguished, but the kind of coins cannot be determined.

Armed with the knowledge of classification and grades of coins, you will find it easy to grade a coin which is a great advantage while collecting them.