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Sunday, October 31, 2010

10/31 Numismatic Collecting News


 
Interest shines at coin show
Chicago Sun-Times
Sarah Nader ~ For Sun-Times Media GURNEE — An inherited coin collection from his great-grandfather got one Grayslake father and son interested in ...
See all stories on this topic »

 
Stay focused at your coin collecting plan
After you decide on a collecting plan, stick with it. Focus on your goals and remain immune to the siren call of other coins. We know it's hard to resist, but in order to conserve your resources and be ready when buying opportunities ...
Latest Articles on EzineMark.com - http://ezinemark.com/
Coin Collecting need some basic info and where to start ? | 4 U ...
By All4U
Question by Prof. Dave: Coin Collecting need some basic info and where to start ? I am looking at collecting coins and would like to learn more about it. I.
4 U ALL Information - http://www.4-u-all.com/
Latest Updates » Blog Archive » All About Crafty A Coin Collecting ...
For the coin collector there is nothing more exciting than finding an exceptionally valuable coin. These guidelines will help you in finding the coin collecting value of your coins. Since each type of coin is different you should expect ...
Latest Updates - http://fl-houses.net/
Investigating Wonderful A Coin Collecting Book — Time Frozen Articles
By cobs
So the next time that you come across some books or articles that will help you with coin appraisals you should buy these and learn more. You can find places that will sell you items to improve your coin collecting and grading eye. ...
Time Frozen Articles - http://www.frozendust.com/blog/
Discover The Basics Of Coin Collecting | Collecting Fun and Profit
By Beatrice Collins
Canadian coin collecting is claimed to be the "Hobby of the Kings." Coin collecting isn't the identical as money hoarding. Accumulating coins as an.
Collecting Fun and Profit - http://collecting-fun-and-profit.com/

Web3 new results for coin collecting
 
Browse Coin Collecting Supplies & Currency Supplies | NumisMaster
Browse the most popular currency & coin collecting supplies: coin drawers, coin display cases, albums, folders, sleeves, flips, holders, magnifying glass, ...
www.numismaster.com/ta/inside_numis.jsp?page=coin...
The Way to long term coin collections
Most big-name coin collections were formed over a long period of time by people who had a clear vision of what they wanted to accomplish.
www.articlesbase.com/.../the-way-to-long-term-coin-collection...
Finding the Best Manufacturer of Coin Albums - Collecting
Collecting Articles - Finding the Best Manufacturer of Coin Albums by Salli Berman | GoArticles Article Directory.
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Saturday, October 30, 2010

10/30 Numismatic Collecting News » Featured

   
Is It Time to Buy an S.S. Central America Double Eagle Gold Coin ?
October 29, 2010 at 7:05 AM
 
By Doug Winter – RareGoldCoins.com

For many years, it's been no secret that I haven't been a big fan of the 1857-S double eagles that trace their origin from the famous S.S. Central America shipwreck. I've written that price levels of these coins haven't made sense to me and I've have had problems with their appearance. More than a decade after they were first released onto the market, has my opinion changed?

I believe that this is (finally) a sensible time to purchase an S.S.C.A double eagle. But there are some important parameters for the collector to follow when considering a purchase. Some of these are as follows:

1. Be Selective. There are over 5,000 1857-S double eagles from this shipwreck and they range in grade from Extremely Fine to Mint State-67. With this wide variety of grades, there are a tremendous number of coins to choose from. At any given major auction, there are typically three to five available and it isn't terribly hard to find them in specialist dealer's inventories. I have noticed a huge variation in quality for coins in the same grade. As an example, I've seen some in MS63 holders that I've loved and I've seen some in MS63 holders that I thought were horrible. Spend 10-20% more and buy a coin that is high end and attractive. In some instances, you will be able to buy nice, high end examples for little or no premium.

2. Find the Sweet Spot. In my opinion, the "right" grade range for one of these 1857-S double eagles is MS63 to MS64. There is not much of a premium for these two grades over AU and lower Mint State grades and when you buy a coin that grades MS63 to MS64 you are getting good value. In the current market, AU58 examples can bring as much as $3,500-4,000. An MS63 is worth around $7,000-8,000 while an MS64 is worth $8,000-9,000. It seems to me that an MS63 at around 2x the price of an AU58 is good value. And it also seems to me that an MS64 at around $1,000 more than an MS63 is good value as well.

3. Stick With Coins in Original Holders. It is important to focus on 1857-S double eagles that are in their original gold foil PCGS holders. And having the original box and other packaging is an added benefit. Avoid coins that are not in these holders and stay clear of NGC graded S.S. Central America double eagles. They may be nice coins but they have been cracked from their original holders and probably upgraded.

4. Avoid Coins That Have "Turned" in the Holder: All of the coins in this treasure were conserved after they salvaged. The conservation process has been well-documented and, in some cases, the work was outstanding. But there are other coins that have "turned" in the holder. These can be identified either by very hazy surfaces or unnatural splotchy golden color. Avoid these coins and look for pieces that are bright, lustrous and evenly toned. At this point in time, coins that haven't turned are probably not going to.

5. Disregard The Die Varieties. All 1857-S double eagles from the shipwreck are attributed to a distinct die variety. There are over 20 varieties known. Some are probably rare but it is even rarer to find a collector who cares. I'd suggest not paying a premium for these.

6. If You Are Buying a PL or DMPL Example, Carefully Study the Market. A very small number of 1857-S double eagles were designated as either Prooflike (PL) or Deep Mirror Prooflike (DMPL) by PCGS. These are some of the most visually arresting coins from the shipwreck. I have seen a few pieces in the last few years bring extremely high premiums. These are no doubt very scarce and very flashy coins but I question the premium that they are currently bringing. If you do decide to purchase such a coin, carefully check auction prices for comparable examples and make certain that the price you are paying is in line with the last auction trade.

Now that I've told you the coins to avoid, let me tell you my ideal S.S. Central America double eagle and let me tell you why my opinion about these coins has changed over time. My ideal 1857-S double eagle from this shipwreck would be a choice, high end PCGS MS64 in a gold foil holder with original papers and box. It would be very lustrous and bright with no haze or discoloration. I'd expect to pay $8,000 to $9,000 and I'd expect to be able to find a nice one within a month or two of beginning my search.

What made me change my mind about these coins? For years, I thought they were very overpriced. I don't remember the exact issue price but I do know that whenever I would buy the coins from original investors, they would have to sell them at a loss; often a considerable one. I didn't like it that there was no real secondary market for these coins and that many of the investors who bought them had been told that they would appreciate in value.

What changed about these coins, at least for me, was the creation of a secondary market. A few of the larger firms that sell Liberty Head double eagles have done a great job of creating this market. For many new double eagle collectors, a bright, shiny high grade 1857-S is a great starter coin and this has created a new level of demand that hasn't exiated since the coins were being sold (and heavily hyped) over a decade ago.

Another thing that changed my mind about the S.S. Central America coins is their comparative value with other Type One double eagles in higher grades. As an example, compare an MS64 1857-S to an 1861 in this grade. Prior to the discovery of this hoard, the 1861 was the "generic" date of this type and it was certainly the only coin that was seen, from time to time, in MS64. In 2001, an MS64 1857-S in a PCGS gold foil label was a consistent seller at auction for $6,900. At that same point in time, an 1861 would sell for $10,000 to $12,000. Today, the same 1857-S is only worth $8,000 while an MS64 1861 would sell for $18,000-20,000+. Non-1857 S double eagles in high grades have become expensive and hard to locate. This has increased demand for the 1857-S double eagles and I wouldn't be surprised to see them reach $10,000 in the next year or so.

One last observation about my about-face. I've seen thousands of 1857-S double eagles from this shipwreck and I've got to admit, that they've grown on me. Ten years, when conservation was not so widespread, these coins appeared funky and I hated the way they looked. Today, with conservation more readily accepted (and way more widespread) they don't look so funky anymore. I love the quality of strike and blazing luster that many of them show and they are certainly an interesting contrast to the dirty, crusty often bagmarked AU Type One double eagles that are a staple of my day-to-day business. Do I love these coins? Not really. But I've become more accepting of the way they look and have always loved their back story. Today, if a collector asks me "should I buy an S.S. Central America double eagle my answer will typically be "yes, but with a few red flags." A few years ago, my answer would have been a quick and curt "no."

 

 
   
   

Friday, October 29, 2010

10/29 Numismatic Collecting News

   
Mount Hood National Forest Quarter Launch Ceremony Details
October 28, 2010 at 8:19 PM
 
 

Mount Hood's last major eruption was in 1790, 15 years before Lewis and Clark's expedition to the Pacific Northwest.

2010 Mount Hood National Forest Quarter

The Mount Hood National Forest Quarter, the fifth and final of the 2010 America the Beautiful Quarters, will be launched into circulation on Nov. 15, 2010. Its ceremonial release will be held two days later, Nov. 19, 2010, at the World Forestry Center.

But on Wednesday, November 17, 2010,  the public is invited to witness an eruption of a different kind, as thousands of new quarter-dollar coins struck in honor of Mount Hood National Forest are released during a ceremony in nearby Portland, Oregon.(...)
Read the rest of Mount Hood National Forest Quarter Launch Ceremony Details (334 words)

 
   
   
     
   
Final Canadian 2010 Collector Coin Issued
October 28, 2010 at 7:55 PM
 
 

Collectors from Canada and around the world can thank the Royal Canadian Mint for a bumper crop of new and exciting 2010 collector coins as the fall weather cools and the shopping season heats up.

2010 Canadian Collector Coins

"The broad range of collector coins being issued today demonstrates the Mint's passion for innovation and creativity, as well as our desire to engage more and more Canadians in celebrating their natural, cultural and historical heritage by collecting our spectacular coins," said Ian E. Bennett, President and CEO of the Royal Canadian Mint. This impressive offering consists of...

Full Article: Mint Launches Final 2010 Collector Coins - CoinNews.net

 

 
   
   
     
   
US Mint Bullion Coin Purchaser Guidelines Change
October 28, 2010 at 7:48 PM
 
 

2010 American Silver Eagle Bullion CoinRequirements to become an Authorized Purchaser for U.S. Mint silver bullion coins have recently been revised.

Since the inception of the American Silver Eagle series in 1986, and recently applicable to the America the Beautiful Silver Bullion Coins debuting this year, the United States Mint has refrained from selling its silver bullion products directly to the public. Instead, it uses a network of Authorized Purchasers who buy the silver coins in bulk to resell them in smaller quantities for modest premiums...

Full Article: Requirements for Silver Bullion Coins Change - SilverCoinToday.com

 

 
   
   

Thursday, October 28, 2010

10/28 Numismatic Collecting News » Featured

   
Coin Rarities & Related Topics: Collecting Modern Coins
October 27, 2010 at 5:51 AM
 

News and Analysis on coins, coin markets, and the coin collecting community #24

A Weekly Column by Greg Reynolds

The purpose this week is to put forth clear, constructive points regarding the collecting of modern U.S. coins. Readers who are already familiar with modern coins may wish to skip to section three, where John AlbaneseJeff Ambio and I provide advice and guidelines for collecting modern coins.

Before the rare U.S. coin auction climate starts to heat up again, I am continuing to address issues that are of interest to beginning and intermediate collectors. This week, I am revisiting the topic of modern coins, partly because many readers last week falsely and unfairly concluded that I was condemning modern coins. I was not saying that only pre-1934 coins should be collected and I was not referring to the artistic elements of the designs of coins minted after 1934. I was discussing the FACTS that distinguish classic from modern U.S. coins.

Indeed, there is a need to clarify some matters relating to recommendations for collectors and values in the marketplace. Last week, I wrote a two part series on 1933/34 being the dividing line between classic coins and modern U.S. coinage. (Please click to read part 1 or part 2.) Two weeks ago, I covered dealer recommendations regarding modestly priced coins for beginning and intermediate collectors.

Jeff Ambio certainly understood my central points last week. Ambio is the author of three books regarding U.S. coins and is one of the leading cataloguers of coin auction lots. In regards to "the 1933/34 diving line, I [Jeff] agree with your basic contention that coins minted prior to that period are much scarcer than those minted after. I [Jeff] also agree with your opinion that collectors paying huge sums of money for post-1934 coins in high grades should reconsider their buying strategies."

The collecting of State Quarters is discussed in the second section. Strategies for collecting modern coins are addressed in the third section.

I. Commonality of Modern Coins

Although post-1934 coins are generally extremely common in contrast to pre-1934 U.S. coins, people who very much like post-1934 coins and enjoy collecting them should do so. Last week, in part 2, I emphasized that people should not spend large sums on a post-1934 coin solely because such a coin is, or is claimed to be, a condition rarity.

Indeed, I am against the rather common practice of spending thousands of dollars for common coins. For example, auction records reveal that a considerable number of businesses strike Roosevelt dimes have each sold for thousands of dollars.

Generally, I am very concerned about people spending even $35 over face value or bullion ('melt') value for a very common coin. Mint errors and recognized unusual varieties are different topics. I am herein referring to standard issues. I am aware that the 1955/1955 Double Die cent is scarce overall. It is, though, a mint error, or, at least, an accidental issue. U. S. Mint officials did not plan in advance for the numerals and some other devices of these cents to be doubled. Errors and unusual varieties require separate discussions, and tend to be exceptions to rules.

While I will write about Mint Errors in the future, the discussions herein relate to standard business strikes and Proof U.S. coins. There are millions of post-1934 coins that have never been submitted to the PCGS or the NGC, and many of them would receive high grades if these were submitted. Consider, for example, that nearly 2.2 million 2003-S ten coin Proof Sets were minted, plus more than 1.2 million 2003-S five clad State Quarter sets. These totals do not include another 1,125,755 2003-S Proof sets that feature silver quarters, a silver dime and a silver half dollar. There were thus made nearly 3.3 million 2003-S Proof Jefferson Nickels. How many collectors are interested in 2003-S Proof nickels?

Every single business strike dime issue since 1940 has a mintage of more than twelve million. In terms of dime mintages, the one hundred million milestone was surpassed in 1941, when more than 175 million Philadelphia Mint dimes were struck. The two hundred million level was reached just a year later, in Philadelphia in 1942. More than three hundred million dimes were minted in Denver in 1962, many of which are around now mostly because of their silver content. Well over one billion dimes were minted in Denver in 1964, and the one billion threshold has been crossed many times by dime issues since 1964. Indeed, since 1964, a mintage of 300 million for a business strike dime issue would be considered very small. As an aside, not that there are fewer than 300 million U.S. citizens.

Yes, there are post-1934 business strike issues of quarters and halves that have mintages of less than ten million. I am concerned, though, about people spending substantial sums on coins for which more than two million were minted and a very large number were actively saved by collectors or silver hoarders. Since 1950, the United States has been a very affluent nation and coin collecting is a very popular hobby.

For individual post-1934 coin issues, there could be anywhere from ten thousand to ten million high grade pieces that have never been certified plus numerous low grade pieces extant as well. The number of individual coins that grade from 66 to 69, and become known to the coin collecting community, may rise substantially, particularly in cases where the market values of the respective coins are significantly greater than the pertinent certification fees charged by the PCGS and the NGC.

Consider the mintages of such coins and the fact that coin collectors, dealers and speculators have been actively saving current U.S. Mint issues, in large quantities, at least since before 1950. In the 1950s and early 1960s, there was wild demand for uncirculated (Mint State) rolls of 1950-D nickels until buyers realized that there were so many thousands of such rolls in existence that all their demands could be easily satisfied. Prices for uncirculated rolls of many modern issues plummeted in the early to mid 1960s.

John Albanese declares that, "for coins from the 1940s, 1950s and 1960s, there has got to be hundreds of thousands of gem coins waiting to be found in uncirculated rolls. It just takes patience."

II. Collecting State Quarters

Some readers of last week's columns are under the impression that I was telling them not to collect State Quarters. This is not so.

"If someone wants to collect State quarters," Kris Oyster says, "I [Kris] would wholeheartedly suggest collecting raw coins out of circulation; it would be challenging and fun." I (this writer) agree. With some patience, a collector could put together a set of business strike State Quarters from change, perhaps occasionally supplemented by the searching of a few rolls from banks. A collector who does not have the patience to wait to find all of them in change could buy a few at small or medium sized coin shows for less than one dollar each.

Last week, I was criticizing the practice of spending from $50 to $8000 for individual State Quarters that grade MS-67 or MS-68. While I am not questioning that such market prices prevail, such expenditures are not logical, given the commonality of the coins and the traditions of collecting coins in the U.S. Jeff Ambio agrees, for many modern coins, a collector may acquire "a lovely MS-66 for a fraction of the price that it would cost to buy, say, an MS-67. The MS-67 is not worth the [super] premium for these common modern coins, especially since there is often little visual difference between it and an MS-66 valued considerably less." Ambio aims his comments here at modern coins in general, and his remarks certainly relate to most post-1934 quarters.

Also last week in part 2, I emphasized that many State Quarters that have never been submitted to the PCGS or the NGC may qualify, in the present or in the future, for MS-67 or higher grades. For State Quarters and many other modern coins, it is just impossible to determine the condition rarity of individual issues. A pertinent point is that coins stored in albums may naturally tone over time, and some (though not nearly all) uncirculated post-1934 coin issues will legitimately increase in grade.

Proof State Quarters are not as common business strike State Quarters. From 1999 to 2008, the U.S. Mint issued Quarter-only sets, each year, with five Proof State Quarters. According to Numismedia.com, the current values for such five Proof State Quarter sets are as follows: 1999-S $30, 2000-S $8, 2001-S $41, '02 S $20, '03-S $10, '04-S $15, '05-S $13, '06-S $16, '07-S $19 and '08-S $45. Each of these prices is for five different Proof State Quarters in a U.S. Mint sealed container. These are not rare coins, and I cannot perceive, from a logical or historical perspective, these being worth dramatically more than the prices just listed. Those who find these coins to be appealing may wish to buy these sets at current levels.

Keep in mind that the respective mintage for each Proof clad State Quarter issue is typically well over two million and almost all of them survive. Besides, the U.S. Mint also issued silver Proof Quarters of the exact same designs, which command premiums over the Proof clad issues that I am discussing here. The silver Proofs are less common, but there are also fewer collectors demanding them. Mintages for some of the Proof silver State Quarters are well over one million. Whether a collector buys silver Proof State Quarters or clad Proof State Quarters depends upon his or her tastes, preferences, and budget.

In coin markets, there is substantial difference in price between a Proof-63 State Quarter and a Proof-68 State Quarter. It is nowhere near, though, the difference in price between a MS-63 State Quarter, which is worth face value, and a PCGS graded MS-68 State Quarter, which, depending upon the individual State Quarter issue, is worth from $26 to $8750, according to the PCGS price guide.

The connoisseur who wishes to acquire Proof State Quarters individually may be satisfied with those that grade from Pr-65 to Pr-67, as these are very attractive and do not cost much more, in absolute terms, than Pr-63 pieces. Jeff Ambio agrees. For most beginning collectors who like State Quarters, buying Proof State Quarters in their original Mint packaging will be satisfying and enjoyable.

A Proof-67 or -68 grade State Quarter will usually cost just a few dollars more than a more typical Proof-65 or -66 grade representative of the same issue. For those who can easily afford, and really appreciate, Proof-68 State Quarters, spending just a few dollars more per coin may make sense. Certified Pr-69 and especially "70" Proof Quarters command much larger premiums. Furthermore, a certified "Proof-70" State Quarter may cost two to ten times more than a "Proof-69" representative of the same issue that is certified by the same grading service. I would not recommend buying certified "Proof-70" State Quarters. These are common coins and "70" grades are controversial. I emphasize that Proof-65 to Proof-68 Modern Proof coins are attractive and will be satisfying to almost all collectors who are interested in such coin issues.

III. Guidelines for Collecting Moderns

John Albanese, too, is concerned about people spending thousands of dollars on certified, post-1934 coins, especially those that have been minted since 1980. John was the sole founder of the NGC in 1987 and he founded the CAC in 2007. Before Albanese sold his NGC shares in 1998, the NGC generally did not grade coins minted after 1964, as these were regarded by Albanese as being "too common" and coins that were "often misrepresented" in the marketplace.

"For people who have decided to buy U.S. coins minted during the last thirty years, they should buy coins in their original government holders," John advises. Most such modern coins are gems. Further, Albanese suggests "that people who like very modern coins put together sets of Silver Eagles. They are large and beautiful. Although they obviously are never going to be rare, they have great eye appeal. Leave the Proofs in their original government holders and put the business strikes in Dansco albums. Silver Eagles often tone nicely," Albanese relates. Silver Eagles are one ounce U.S. silver coins that have been minted since 1986.

For post-1934 coins in general, Albanese focuses on silver coins. "For people who like silver coins or just wish to invest in silver as a precious metal, unc rolls of Franklin Halves may be purchased for just a couple of percentage points over melt [silver bullion content]. Some rolls include gems." Furthermore, Albanese recommends unc rolls of Roosevelt Dimes, 1949 to 1964. "Most of these can also be purchased for just a little over melt." Also, Albanese points out that uncirculated Mercury Dime rolls were almost never melted, even in 1980. There are still a lot of them around and they are not expensive." MS-65 and higher grade Mercs, of many dates, "can be found in rolls."

A collector or silver investor, Albanese says, can assemble circulated sets of modern silver issues for around "melt value" [silver bullion content]. Indeed, John emphasizes that nice circulated examples of almost all post-1934 silver, business strike Washington Quarters can be purchased for melt value. Furthermore, "you could buy 90% of a Mercury Dime Set or even 90% of a Walker Set for melt value by just going to coin shops or small coin shows," Albanese reveals. For Mercs and Walking Liberty Half Dollars, John is referring to 90% complete sets of whole series "from 1916 to the end," not just from 1934 on.

Regarding post-1934 coins in general, Jeff Ambio provides collecting advice, at my request, even though he is not thrilled about post-1934 coins "for the reasons of relative commonness that Greg pointed out in last week's columns. If someone were to collect post-1934 coins, I [Jeff] would [suggest] those series where there is another criterion to determine rarity other than the number of coins known or the number of coins believed extant in a certain grade. In other words, I [Jeff] like Franklin Half Dollars because you have added criteria of strike that can actually help to establish genuine rarity for Full Bell Lines examples of certain issues."

Jefferson Nickels may have five or six full steps on the reverse (back of the coin). It is becoming increasingly popular for people to collect Roosevelt Dimes with a 'Full Torch' or 'Full Bands' on the reverse. Though I (this writer) recognize that these designations are very popular with collectors, I (this writer) feel compelled to disagree with Jeff on this point. I just do not find these features to be of tremendous importance from a technical or aesthetic standpoint.

Ambio continues. "I [Jeff] would absolutely stay away from really modern coins like Statehood Quarters, Sacagawea Dollars, Presidential Dollars, etc. There are just so many of those coins around, and most are very well made. If someone were to collect modern series, other than the likes of Franklin Halves with their FBL criteria, I [Jeff] would select the grade level just before the PCGS and the NGC population figures drop off markedly. In other words, don't pay huge premiums for a coin that looks like a major condition rarity now [as] it might not be in a few years after more coins are certified. Top-of-the-pop supposed condition rarities of modern coins are ticking time bombs" because these will no longer be strongly demanded after many more such coins are certified, Ambio emphasizes.

Here are my (this writer's) guidelines for collecting post-1934, U.S. coins: (1) A collector should buy coins that he or she really likes. If a collector is unsure, then buy a few coins in different series, and in different grades, and study them, before deciding which series to collect. Collectors must decide which coins interest them. (2) Always keep in mind that modern coins are (with few exceptions) very common.

(3) If a collector is a connoisseur and appreciates the differences relating to single points above 65, pay a little more for superb gem coins. Do not pay many multiples of the price of the same coin issue in the next grade below.

John Albanese asserts, "For coins from the 1940s, 1950s and 1960s, there has got to be hundreds of thousands of gem coins waiting to be found in uncirculated rolls. It just takes patience." Undoubtedly, more than a few of these gems grade MS-67.

(4) Remember that, for each modern coin issue, the number that is certified in grades from 65 to 70 may dramatically increase in the future. If a '69′ grade coin is worth multiples of a '68′ grade coin of the same issue and both have values well above a PCGS or NGC certification fee, then the number of '68′ and '69′ graded coins of the respective issue may rise dramatically over time. In such a case, a '66′ or '67′ grade coin may be a better value. Jeff Ambio strongly agrees.

(5) Be hesitant to pay substantial premiums for cameo effects on Proofs. Think first. (6) If a collector has already decided to spend more than $250 each on modern coins that grade above 65, he or she should buy PCGS or NGC certified coins AND seek the advice of experts.

(7) Formulate a collecting objective that has a finite ending point, such as State Quarters, Franklin Halves, silver Roosevelt Dimes, or 1982 to 1999 dated Modern Commemoratives. Do not feel pressured to keep buying future U.S. Mint issues to complete sets. If a collector plans to collect all modern commemoratives or all gold [bullion] "eagles" from 1986 onwards, he or she may need to buy many issues that do not yet exist, at unknown prices, to complete a set. A plan for a modern coin collection should be limited to coins that already exist. With objectives that have finite ending points, a collector may form a plan and a budget in the present.

(8) Most importantly, coin collecting should be fun. A collector should acquire coins that he or she can easily afford and find to be very appealing. If a collector chooses to build sets of common coins, then he or she should pay modest amounts over face or precious metal ('melt') value for such coins.

©2010 Greg Reynolds

 
   
   

Wednesday, October 27, 2010

10/27 Numismatic News

   
Gold Little Changed, Silver Rises 1.2%
October 26, 2010 at 2:56 PM
 
Gold, oil and stocks were mostly unchanged on Tuesday. Gold fell early as a stronger U.S. dollar...

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Royal Canadian Mint Launches Final 2010 Collector Coins
October 26, 2010 at 10:03 AM
 
Collectors from Canada and around the world can thank the Royal Canadian Mint for a bumper crop of...

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Gold, Silver, Metal Prices Commentary – October 26, 2010
October 26, 2010 at 7:40 AM
 
An overnight stabilization in the US dollar (back up to 77.50 on the index) brought gold sellers...

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Tuesday, October 26, 2010

10/26 Numismatic News

   
Designs Revealed for 2011 Coins Commemorating Medal of Honor Anniversary
October 25, 2010 at 9:34 AM
 
In 2011, the United States Mint has been authorized by Public Law 111-91 to issue commemorative...

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Gold, Silver, Metal Prices Commentary – October 25, 2010
October 25, 2010 at 8:10 AM
 
Even as they pledged to refrain from further weakening their respective currencies, finance...

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