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Numismatics (Latin: numisma, nomisma, "coin"; from the Greek: νομίζειν nomízein, "to use according to law") is the study or collection of currency, including coins, tokens, paper money, and related objects. While numismatists are often characterized as students or collectors of coins, the discipline also includes a much larger study of payment media used to resolve debts and the exchange of goods. The term numismatist applies to collectors and coin dealers as well scholars using coins as source or studying coins. This Website is for serious Numismatists and Coin Collectors that believe Coins is a fun hobby first and profit making venture second. We welcome all new and advanced collectors to this King of Hobbies.
Coin collecting is the collecting or trading of coins or other forms of legally minted currency. Frequently collected coins include those that were in circulation for only a brief time, coins minted with errors, or especially beautiful or historically interesting pieces. Coin collecting can be differentiated from numismatics in that the latter is the study of currency, though both are closely related. In coin collecting, coin grading is the process of determining the grade or condition of a coin, one of the key factors in its value as a collector's item.
Coin Collections generally have a theme here are common ones: Type Collections: A collection may consists of an example of major design variants for a period of time in one country such as: Half Cents, Cents, Nickels, Half Disme, Dimes, Quarters, Half Dollars, Dollars & Commemoratives. Period Collections: Many collectors restrict themselves to coins issued after the 18th or 19th century, while others collect ancient and medieval coins. Coins of Roman, Byzantine, Greek, Indian, Celtic, Parthian, Merovingian, Ostrogothic, and ancient Israelite origin are amongst the more popular ancient coins collected. Country Collections: Many collectors attempt to obtain a sample from every country which has issued a coin. Subject Collections: Collectors with an interest in a subject (e.g. trains, panda, ships, cats or dogs) may collect only coins depicting that interest.
There are many types of Coin Collectors. First and foremost, Coin Collecting is a Hobby about fun and learning. However, Coin Collecting can be a profitable venture and long term investment. While collecting for pleasure can make an enjoyable hobby, those entering the field primarily for profit should be warned to study before buying. Certain companies, some of whom may advertise on television, in newspapers, or in popular magazines, are alleged to make outlandish claims about the present and future values of their wares. After learning the basics of the field, it is often possible to make better purchases from reputable dealers. This website serves as a free information database for the new and advanced collector. Remember: Buy the Book before you buy the Coins!
A common reason given for purchasing coins is as an investment. Coin prices can be cyclical and prices may drop for coins that are not in great long-term demand. In addition to demand, condition and rarity are also determinants in pricing. The age of a coin is not, per se, a factor. Many of the reasons given for investing in coins are similar to those given for investing in stamps, precious metals or other commodities. As with most collectibles, a coin collection does not produce income until it is sold, and may even incur costs (e.g. for safe deposit box storage) in the interim. In coin collecting, the condition or state of preservation of a coin is paramount to its value; a high-quality example is often worth many times more than a poor example. Of course, this is true for nearly all other types of collectibles (such as stamps or trading cards). There are always exceptions to this generalization. Collectors have created systems to describe the overall condition of coins. One older system describes a coin as falling within a range from "poor" to "uncirculated". The newer Sheldon system, used primarily in the US, has been adopted by the American Numismatic Association. It uses a 1–70 numbering scale, where 70 represents a perfect specimen and 1 represents a barely identifiable coin. Several coin grading services will grade and encapsulate coins in a labeled, air-tight plastic holder. This process is commonly known as coin slabbing and is most prevalent in the US market. Two highly respected grading services are the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS). ICG and ANACS are second tier companies. However, professional grading services are the subject of controversy because grading is subjective
Today, like all investments and commodities, the price of gold is ultimately driven by supply and demand, including hoarding and disposal. Unlike most other commodities, the hoarding and disposal plays a much bigger role in affecting the price, because most of the gold ever mined still exists and is potentially able to come on to the market for the right price. The price of gold is mainly affected by changes in sentiment, rather than changes in annual production. Investment in gold can be done directly through bullion or coin ownership, or indirectly through certificates, accounts, spread betting, derivatives or shares. Investors may buy gold for a variety of reasons: among them include a desire to diversify their assets; to hide wealth from tax authorities; out of fear of an economic depression or other serious crisis (e.g. war, bank failures, gold bug). Examples of Gold Bullion include Krugerrands, British sovereigns, the American Eagle series, Chinese Panda, Vienna Philharmonic, Swiss Franc, Australia Nugget, and the Canadian Maple Leaf series.
Many factors determine the value of a gold coin, such as its rarity, age, condition and the number originally minted. In July 2002, a very rare $20 1933 Double Eagle gold coin sold for a record $7,590,020 at Sotheby's, making it by far the most valuable coin ever sold to date. While rare and antique gold coins are primarily collected for their numismatic value, gold bullion coins today derive their value from the metal (gold) content - and as such are viewed by some investors as a "hedge" against inflation or a store of value. South Africa introduced the Krugerrand in 1967 to cater to this market; this was the reason for its convenient and memorable gold content—exactly one troy ounce. It was the first modern, low premium (i.e. priced only slightly above the bullion value of the gold) bullion gold coin. Bullion coins are also produced in fractions of an ounce – typically half ounce, quarter ounce, and one-tenth ounce. Bullion coins do not carry a meaningful face value, as their value is mainly dictated by their troy weight and the current market price of the precious metal.
Silver, like other precious metals, may be used as an investment. For more than four thousand years, silver has been regarded as a form of money and store of value. However, since the end of the silver standard, silver has lost its role as legal tender in the United States. (It continued to be used in coinage until 1964) The price of silver has been notoriously volatile as it can fluctuate between industrial and store of value demands. At times this can cause wide ranging valuations in the market, creating volatility. Silver often tracks the gold price due to store of value demands, although the ratio can vary. Physical silver, such as bars or coins, may be stored in a home safe, a safe deposit box at a bank, or placed in allocated (also known as non-fungible) or unallocated (fungible or pooled) storage with a bank or dealer.
Silver coins are possibly the oldest mass form of coinage. Silver has been used as a coinage metal since the times of the Greeks. Their silver drachmas were popular trade coins. Many factors determine the value of a silver coin, such as its rarity, demand, condition. mint mark and the number originally minted. Silver coins coveted by collectors include the Denarius, Miliarense, Old Dollars. Morgan Dollars are classic and old coins but most are not rare and many exist today in high grades. Other than collector's silver coins, the common silver bullion coins are popular among people who desire a "hedge" against currency inflation or store of value. Bullion Coins prices are directly related to the price of silver and fluctuate with the commodities markets. The price of Rare Silver Coins may be affected by the price of Silver but generally follow a seperate coin market dynamic.
Coins can be seen as being of one of three types: Regular issue coinage are the normal coins intended to be used in commerce every day and are typically issued with the same design for several years, e.g. euro coins. Circulating commemoratives are intended to be used for commerce, but the design will only be issued for a limited time, is intended to draw some attention to a specific theme, event or person. Examples include the €2 commemorative coins, or U.S. 50 State Quarters. Non circulating legal tender (NCLT) are coins which are legal tender, and thus can in theory be used to purchase goods or services, but are not intended to be used in such a manner. Rather they are intended to be used only as souvenirs, and are often produced in gold or silver with a proof finish. There are Commemorative Coins. Commemorative Coins are coins that were issued to commemorate some particular event or issue. Most world commemorative coins were issued from the 1960s onward, although there are numerous examples of commemorative coins of earlier date. The Striking of Proof Coins usually involve polishing of the dies. They can usually be distinguished from normal circulation coins by their sharper rims and design, as well as much smoother "fields" - the blank areas not part of the coin's design. The dies for making modern proof coins are often treated with chemicals to make certain parts of the design take on a frosted appearance, with the polished fields taking on a mirror finish. Several other methods have been used in the past to achieve this effect, including sand blasting the dies, and matte proofs. Proof coins of the early 1800s even appear to be scratched, but it was part of the production process.
Coins originated separately in Ionia-Lydia (most likely in Greek Ephesus, see below), China, and India (where coins were known as karshapana, though India was later, during Hellenistic times, influenced by the Greeks). Coins are said to have originated around 600 BC in Lydia. Since that time, coins have been the most universal embodiment of money. These first coins were made of electrum, a naturally occurring pale yellow mixture of gold and silver that was further alloyed with silver and copper.
The most famous and widely collected coins of antiquity are Roman coins and Greek coins. The main Roman currency during most of the Roman Republic and the western half of the Roman Empire consisted of coins including the aureus (gold), the denarius (silver), the sestertius (bronze), the dupondius (bronze), and the as (copper). These were used from the middle of the third century BC until the middle of the third century AD. They were still accepted as payment in Greek influenced territories, even though these regions issued their own base coinage and some silver in other denominations, either called Greek Imperial or Roman provincial coins.
Coins can be an expensive hobby. It is important to be a wise spender and to be a skeptical spender. Make informed purchases from honest dealers. GRADING RISK: Grading is a subjective art, not a science. Grading opinions of Coins can vary from person to person and from grading firm to grading firm. PCGS and NGC have been leaders in standardizing grading, but there is no guarantee that these standards will not change in the future. ICG and ANACS are solid second tier companies. Regardless, examine each coin carefully as to its quality. When buying on the internet check the pictures! AUTHENTICITY RISK: Forgery and counterfeiting are risks associated with the purchase of rare coins. To minimize these risks, it is recommended that investors only buy coins certified by one of the leading independent coin grading services. When buying from the internet check ebay feedback! MARKET RISK: There is no guarantee coins will increase in value. The coin market is subject to substantial fluctuations including significant and rapid increases and decreases in value from time to time. Investors must be able to assume the risk of such price fluctuations. Rare Coins can be solid long-term investments when part of a larger diversified investment plan, but the future is never certain. The value of a bullion coin (e.g., Canadian Maple Leaf or South African Krugerrand gold coins) is largely determined by the current spot or market price of the underlying commodities. This price fluctuates throughout the trading day. The value of a numismatic or rare coin is determined by a multitude of factors which can and do fluctuate independently from bullion prices. These factors include: the perceived scarcity of the coin, its quality, current demand, market sentiment, and economic factors. LIQUIDITY RISK: Coins have large "spreads" or price differentials between the selling price (the "ask" price) and our buy-back price (the "bid" price). This is often called a "transaction cost" which can be quite substantial meaning it'll take time to make your money back. Again, Coins is a hobby and profit making venture second.
Coins can be an expensive hobby. It is important to be a wise spender and to be a skeptical spender. Make informed purchases from honest dealers. Again, examine each coin carefully as to its quality. When buying on the internet check the pictures! Make sure the pictures have clear and sharp and inspect them for coin flaws. When buying from the internet check ebay feedback or seller feedback to make sure the dealer and seller is reputatable. 1. Read the Book. A serious coin collector has a numismatic library of books and magazines. This is the only way to find the deals, whats hot, whats not and what the coin market is doing. Read about various types of coins and brainstorm on what kind of collection do you want to create. 2. Create a Coin Plan. A like serious hobbyist or investor, when your cash is a stake it is best to buy within an (1) Acquistion Plan and (2) buy within a set Monthly Budget. The Coin Market is a serious business and serious hobby and lots of fun. Typical Coin Collections include: a US 20th Century Type Set; US Silver Proof Sets from 1945 - 2009, Collection of World Gold and/or Silver Bullion Coins from UK, USA, China, Australia, Austria, Swiss, Mexico; 17th Century - 19th Century US Type Set (shoot for the stars); Complete Modern US Commemorative Proof Set; Complete Antique US Commemorative Silver Half Dollar Set; Complete Antique Pre - 1933 Gold Eagle Set; Complete US State Quarters Mint & Proof Set 1999-2009, Complete Presidential Dollars Set Mint & Proof Set. 3. Do more Research. Again, Coins is a fun hobby first and profit making venture second. Enjoy like a hobbyist but purchase your coins like an investor. Do not overpay for your coins. Be a value investor. 4. Store the Coins Properly. As a Coin Collector you are a steward of history and of these valuable objects for posterity. Keep your coins in a cool, dry and dark place. Store them in non-pvc albums or obtain nice cigar boxes, Make sure the slabs never get cracked and keep the coins from moisture. 5. Making the First Purchase. After you have developed a Coin Acquistion Plan, set a aside money for a monthly budget, it is time to make the purchase. Make contacts with local dealers in person or online. Make sure they are reputable dealers. If you are buying online check seller feedback it should be close to 100% positive. Carefully review the comments of previous buyers. Ask questions in person or in e-mail about the coins. Search for the best prices. Buy shipping insurance when getting valuable coins. Once, the coin arrives make sure you got what you paid for. Again store your treasures properly and preserve them for future generations. 1. Read the Book. 2. Create a Coin Plan. 3. Do more Research. 4. Store the Coins Properly. 5. Making the First Purchase.
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