rare coins
Coin of the Week: 1/10th Oz American Gold Eagles
It is no secret that gold is hot these days. But one type of gold has really skyrocketed in the last few weeks. The American Gold eagle fractional gold tenth oz. coins have shot up in value. I would recommend buying up as many as possible before they are untouchable. Expect to pay $155 for mint state coins and $205+ for proofs. Buy as many as you can get your hands on. this may be the best advice i have given in a while. Happy collecting. As always contact me with any questions.
Proof tenth oz. Gold
Coin Deals of the Week:
This section is a gem of information on all the best deals I have found on Coins and supply from all around the net. I hope you enjoy them and if you find some of your own post them as Comments
This weeks Deal of the week is:
- 2009 Pennies From the mint website. A fair price at $8.95 for the P&D Set. I would pick up a few they should be worth a pretty penny in the future. http://catalog.usmint.gov/
The P&D set. Pick Up a few while they last
Coin of the Week: 2009 American Buffalo
The 2009 gold buffalo is a beautiful coin and a smart investment. The coin has a lower mintage and is one every collector should pick up. I would say why stop at one?
For more information check out the mint web page:
Grading Your Coins
This is a nice MS-66 Mercury dime
One aspect of coin collecting that can take years to get a knack for is grading. Every coin has many focus areas you must look for to assign the proper grade to a coin. The difference between a coin being Mint State and about uncirculated can be impossible at first to spot but with time you will learn to grade like a pro. The value of a coin not only lies with its relative rarity but it also has a great deal to do with the grade or condition a coin can be in. Coins are graded on a scale from 1 to 70 and they have designations from about good (AG 3) gem uncirculated (MS 70). The difference in one grade point can be in some cases thousands of dollars. Coins can be very common in one grade but virtually unseen in higher grades.
The best was to stat is to know the breakdown of the grading. Coins grade as follows:
- AG-3 About Good
- G-4 Good
- VG-8 Very Good
- F-12 Fine
- VF-20 Very Fine
- EF-40 Extremely Fine
- AU-50 About Uncirculated
- MS-60 Uncirculated
- MS-63 Choice Uncirculated
- MS-65 Gem Uncirculated
- MS-70
Each coin has many various middle grades between those major listed about. Each coins also has their own set of standards for each coin.
Here are my tips to learn to grade:
- Get your hands on an auction catalouge. Cover up the grades of the coins then guess what you think it is. After you have your guess look at the actual grade and figure out why you are off.
- Get a copy of The Official American Numismatic Association Grading Standards of United States Coins (Official American Numismatic Association Grading Standards for United States Coins)
- Look at dealer inventories of coins you collect. The guess what they are and ask the dealer how you did.
- Pick a coin like the mercury dime and obtain examples from all ranges of grades so you know what to look for in that coin.
- Always look first with you naked eye, then once with magnification. Scan the coin for wear or scratches, always check for rim chips, think about color and tone. Ask yourself if you think the coin is original.
- Always think what did this coin look like when it was first struck then work backwards from that point.
- Look for strike detail and compare this to wear. Do not mistake a weak strike for a worn coin.
It is very hard to learn how to grade every coin out there so pick a few at first and learn them inside and out then slowly expand. When you are grading a coin do not forget to think if the coins is authentic and if the coin has been cleaned.
The coin pictured is a nice MS 66 Mercury dime. The coin shows a nice as minted luster, the coin has good color, but the strike is a bit weak leaving the coin at MS 66 rather than MS 67 or higher. This is a good example of a gem uncirculated coin.
Good luck and happy collecting. Get out and grade.
Selling Coins on Ebay
At some point or another everyone has a coin or a bunch of coins they want to sell on Ebay. I have found Ebay to be a great place to both sell and buy coins if you use the proper caution and if you know what you are doing. Here is my list of ten things you must know to sell coins on Ebay:
- Is the coin original? If you know it is fake or you think it is fake, keep it off ebay. You could ruin your ebay reputation which is key for all future sales
- What is the coin worth? You should do some research using The Official Red Book: A Guide Book of United States Coins 2009
Set reserve and starting prices accordingly
- Spell everything in the coin description correctly. You would be surprised to see how many coins on ebay have spelling errors in their descriptions and because of this they do not sell for the true market values.
- You should have a good photo of both sides of the coin. A great photo is important because coin collectors are so picky when buying coins they want to know what they are getting.
- Stand behind your coins! Offer a fair return policy with customers and realize all sales on the site reflect you as a collector.
- Be smart with shipping and insurance. Do not skimp on either because it could hurt you in the end. I always suggest if you are selling coins on Ebay use tracking so you know if the customer received it.
- Do not do business out side of Ebay! If you get an email that asks to do business outside of Ebay to avoid seller fees forget. It may sound like a good idea but there is no reason to do it. Ebay is set up for a reason and it protects its buyers and sellers.
- Use paypal!
- Try to make lots out of common coins and sell rare coins as singles.
- Think of a fun way to get repeat customers. One of the best ways to build up your ebay business is repeat customers. I would always suggest freebies. I used to put a silver mercury dime in with any purchase people made. I have also bought from collectors that put in two dollar bills or just a simple print out of the history of the coin. Also if you are like me and you have a coin blog invite them to check it out with a business card or a flyer.
So have fun with Ebay. Be careful and enjoy making a little pocket change.
Happy collecting!
The Great Quarter Eagle Crack Out
An MS-61 Quarter Eagle
Cracking out is when a coin investor buys a graded coin and then cracks it out of its slab and sends it in for regrading in hope of upgrading the coin. This is not in any means a beginner tactic to coin collecting because it requires an expert eye and the ability to grade coins on the spot. The focus of this crack out guide will be Indian Head Quarter Eagles.
First here are some tips you should always consider before cracking out a coin:
- What is my win/loss (how much can I gain from an upgrade and how much can I lose from a downgrade)
- Does the coin have the strike, luster and detail for an upgrade?
- Is the added cost of certification and shipping worth the chance the coin comes back the same grade?
- When cracking out a coin beware of damaging the coin while handling it. (I have heard a few horror stories about people cracking a coin out then dropping it the second it is out of the holder and turning an MS 64 St. Double into a AU-55 St. Double.)
- Be kind and at the end of the year send back all your crack out slips so the coin populations can be redone.
So that is some of the basic knowledge for a more in depth look check out The Coin Collector’s Survival Manual
For the lesson on the Indian Head Quarter Eagle I have picked three dates I feel have a great upside/ downside ratio. The reason I picked the Indian Head Quarter Eagle is because of the way the coin is designed and the complexity the coin presents to the grader. The coin’s details are sunken in and the surfaces are leveled. The coin is graded by the ANA as follows:
MS-70: “A Flawless Coin Exactly as minted… Must have full mint luster”- ANA
MS-65 “No trace of wear except for some small blemishes. Has full mint luster. A few noticeable nicks or marks may be present.”- ANA
MS-63 “A coin with attractive mint luster but noticeable detracting contact marks or minor blemishes” -ANA
MS-60 “A strictly uncirculated coin with no trace of wear but with blemishes more obvious than for a MS-63″ May lack full mint luster and brilliance.”
From this you can notice that the difference between a MS-62 and a MS-63 would be minor if anything but the value swap is huge. Or from a MS-63 to 64.
By the numbers:
|
VALUE IN GRADE |
|||
| DATE & MINTMARK | MS- 61 | MS- 62 | MS-63 |
| 1909 | $390 | $650 | $2,000 |
| BUY THE MS-62 WITH GREAT EYE APPEAL AND THE EXPECTED RESULTS ARE AS FOLLOWS | -$280 (LOSS IN VALUE AND GRADING PLUS SHIPPING) | -$20 (FOR GRADING AND SHIPPING) | +1,330 (PROFIT FROM INCREASE IN VALUE LESS COST OF GRADING AND SHIPPING) |
| MS- 61 | MS- 62 | MS-63 | |
| 1912 | $390 | $625 | $2,100 |
| BUY THE MS-62 WITH GREAT EYE APPEAL AND THE EXPECTED RESULTS ARE AS FOLLOWS | -$255 (LOSS IN VALUE AND GRADING PLUS SHIPPING) | -$20 (FOR GRADING AND SHIPPING) | +1,455 (PROFIT FROM INCREASE IN VALUE LESS COST OF GRADING AND SHIPPING) |
| MS- 60 | MS- 61 | MS-62 | |
| 1914 | $400 | $700 | $2,150 |
| BUY THE MS-61 WITH GREAT EYE APPEAL | -$320 (LOSS IN VALUE AND GRADING PLUS SHIPPING) | -$20 (FOR GRADING AND SHIPPING) | +1,430 (PROFIT FROM INCREASE IN VALUE LESS COST OF GRADING AND SHIPPING) |
***Warning: no results are guaranteed do not do this if you cannot afford the downside risk. As always you can damage your coins easily and there is no safe way to crack coins out. Not for people who do not have expert coin experience!****
Coin Market Report:
By: John Apuzzo
With worldwide recession on the minds of all investors the coin market has endured quite well. There has been no major sell off in the rare coin market and only common date coins have exited most collections during this recession. Graded coins are still commanding higher and higher premiums and the Morgan dollar market is red hot.
One Year Graph of the PCGS 3000
The market is being flooded with many of the more common date coins in both gold and silver. Now is a great time to fill some holes in your sets. Dealer inventories are full of these coins so they are looking to unload. There is a lot of good quality coins out there because these coins are coming from accumulators that have not had their sets cherry picked by dealers yet. I have noticed that many collections that have gone untouched since the silver boom of the 80’s are being brought to market.
The market is not at all time lows and shows a downward trend that is a direct result of lowering commodity prices. The higher valued coins and mint state gold coins have taken a decent sized blow in value. These coins are valued closely to the prices of the 2006 market and prices are still up about 94% from the 1994 market. The Morgan dollar market is showing slight resistance to the downward market trends and has positive returns since May of 2006. Key dates and rarities have show the greatest resistance to the market pressures and have positive returns since the price levels one year ago. The hardest hit market sector during this recession has been the 20th century coin index and these coins have hit ten year lows and are only up 38% when compared to 1994 prices.
With all this analysis in mind where are the current deals? The market shows the most resistance as always in rarities but they command monster premium. For value and deals the investor must turn to the Morgan dollar market and the Proof Type coin market. Both have shown nice return and are relatively stable in price levels.
Our Pick: Common date Trade Dollars in MS 60 because they are affordable and have held strong in value. Do not over look the Morgan Dollar rarer Vam coins and as always keep your eyes peeled for that hidden gem.
Book of the Week
The Expert’s Guide to Collecting & Investing in Rare Coins: Secrets Of Success
This is the know everything guide to coin collecting. There is the perfect mix of collecting history and collecting knowledge in this encyclopedia. David Q. Bowers is a top numismatic author and this book will start or complete any fine coin collecting library. The book is a great general guide to past market performance and current market issues. The detailed histories of collecting as a hobby and the US mint make this book a must read for every collector. Rating: 5/5
Skill level: All levels 
The Silver Commemorative Comback!
Classic silver commemoratives were minted from 1892 to 1954. They have commemorated everything from Columbus discovering the Americas to the Bridgeport, Connecticut centennial.
The price ranges are as varied as the topics covered by the coinage. Most falling in the $150 to $900 range. It is clear that the best part of Classic commemoratives is the “bang for the buck.” Most have distribution under 30,000 and some post numbers as low as 5,000.
The 1936 Cincinnati Music Center Commemorative was struck at the P,D and S mints. All of which struck only 5,000 coins. At $310 for a mint state type coin from the set, this is a steal. The low mintage is attributed to high initial cost of $7.75 for the set. The vale of the coins in MS-65 is $2500 for the set or around $825 each. If this was the mintage numbers from the circulating Walking Liberty half dollar it would be worth over $20,000. Rarity is the reason for the comeback of commemoratives.
Classic commemoratives are a great way to start collecting lower mintage coins that will have a high value in the future. For their comparatively low price you can own super rare coins. When collecting commemoratives they must be MS 63+ to even consider buying them. Pick up a Red Book and start collecting commemoratives today!
Collecting 101: RECESSION COLLECTING TIPS
It is about what you have not what you need when money is tight!
Focus on what you have not what you need. Look through your collection for coins that should be sent in to be graded and find coins you think can earn an upgrade.
The mint has a lot of great series that are circulating right now. Begin a MS set of presidential dollars or finish up your MS set of state quarters. These coins may not yield the largest financial returns but they will give you a cheap coin fix.
Spend time working on organizing your collection and sell the coins you really could live without. With these excess funds buy coins you need for sets you are working on.
Eliminate the junk. There is no need to hang on to all of those pre-1964 dimes you pulled out of circulation or the other silver coins that have no value to your collection. Save your best of each date and mintmark and sell the excess. Trimming the fat can be a profitable way of clearing some space in you collection.
Write an article for RCI news (my newsletter). It is free to do and very enjoyable.
Check out garage sales and flea markets for diamonds in the rough.
Good luck!
