Archive for the ‘Collecting’ Category
Coin Collecting And Numismatics – The 5 Nuances Of Numismatics
Numismatists are the people who study the over all appearance and history of the currency mentioned above. They should not be confused with coin collectors. Coin collectors, unlike numismatists, only interest themselves in the collection of coins and the related prestige. A numismatist, however, can also be a collector or coins.
Through the years, the popularity of coin collecting has increased immensely. Animals and famous people who depict a certain era are the most popular.
Generally, numismatists are interested in the origins, appearance, production and variety of money. Their aim is to explore the different types of currency and their role in history with the help of mint information. The facility of place where a particular coin was manufactured is called its mint. Numismatists are also involved in the grading or authentication of coins in order to discern their market value. in order to facilitate this, many coin grading systems were established.
At present, there are three third party facilities involved in the authentication of paper money and coins. They are: the NGC or the Numismatic Guaranty corporation, Sarasota, Florida; PMG or Paper Money Grading; and the PCGS or Professional Coins Grading System, Newport Beach, CA.
PCGS was established in the year 1986 and is a third party organization that authenticates and grades coins for commercial purposes. This independent body provides expert opinion on coin rating. NGC, another third party institution established in the year 1987, offers services to numismatists in particular. The PMG, unlike the above mentioned bodies, only authenticates paper money and is a department of the PCGS.
There are a few components used by numismatists in grading coins:
1. Luster- this determines if a particular coin has been in circulation. If a coin is of higher grade, it should be free from all blemishes and imperfections and be technically intact.
2. Surface Preservation. The location and type of abrasion on a coin’s surface is an important factor that determines the coin’s grade. This does not mean that an abrasion lowers the coin’s grade. For instance, if a coin is good looking but has an unnoticeable abrasion at the back, it will not affect the value of the coin. But there is a difference in case the abrasion is located at the focal point or in the front.
3. Strike. Strike is the process of designing a coin where the coin is stamped on a planchet. The strike does not weigh much in the grading.
4. Coloration. A few coin collectors feel that the color of a coin impacts its value to a large extent especially when the coin is made of silver or copper.
5. Aesthetic appeal. There are a few coins that are anything but perfect but a collector might find such a coin valuable or attractive. However, even such coins need to examined before their true value is determined.
If you have absolutely no experience in the grading of coins, it is best you seek the help of experts. Coins are important, not only to people who love the study and collection of coins but also to society as they are representatives of different historic eras. One should always have the basic knowledge required to collect coins.
By: Abhishek Agarwal
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The Silver Peace Dollar Coin – Showcase For Liberty, Honor, And Democracy
Members of the numismatic community and those devotees of the study or collection of currency will feel a warm glow in their hearts to know that the Silver Peace Dollar coin issuance was inspired by their interesting and widespread hobby! The peace dollar was struck by the US Mint during a seven-year period, from 1921-1928, followed by a two-year mintage in 1934-1935. IIt was a November 1918 article in The Numismatist, the official publication of the American Numismatic Association (ANA), which was the actual inspiration for the coin. The article suggested the minting of a coin to mark the end of World War I and the triumph of democratic ideals.
This suggestion was further expounded at the ANA convention in Chicago in August 1920. It called for either a half-dollar or a dollar commemorative coin to provide ample space for a design showcasing liberty, prosperity, honor and democracy. US Treasury authorities, however, went a step further and issued the silver as a coin for general-public circulation.
The Silver Peace Dollar coin succeeded the Morgan dollar which was minted last in 1904. The Pittmann Act sponsored by Nevada Senator Key Pittmann enabled the minting of the Silver Peace Dollar, as this federal law authorized US sale of standard silver bullions the proceeds of which will used for minting new silver dollars.
The Peace Dollar's designer was Anthony de Francisci who prominently rendered the word "PEACE" at the bottom of coin's reverse side. The silver content of this coin is 0.77344, and it is the last silver dollar that was minted for US circulation.
There was brief minting of the Silver Peace Dollar coin in 1965 with the coins bearing the year 1964. For one reason or another, however, these coins were neither circulated to the public nor any of their examples released. The whole 1965 mintage was melted, perhaps along with the hopes of some avid numismatist and Peace coin collectors.
By: Christina Goldman
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What Determines Morgan Silver Dollar Values
Having a Morgan silver dollar is to own a coin with a tracing back to more than 100 years as this popular collector's item started circulating in 1878. Several mints across the US produced this silver coin until 1904, with a one-year edition issued in 1921.
Morgan Silver Dollar values today are essentially based on where the coin was minted. Those that came out from the Carson City, Nevada, mint would be more valued because the mintages there were usually low.
The coin's tails side featuring the bald eagle contains the code on the mint source, and hence provide the hint at the Morgan Silver Dollar Values. The letter codes are between the letters "D" and "O" in "DOLLAR". The mintmark "P" would indicate the Philadelphia Mint in Pennsylvania, "CC" for Carson City mint, "D" for the Denver, Colorado mint, "O" for coins from New Orleans, Louisiana, and "S" for those of San Francisco, California, make.
These coins were minted with the passage of the Bland-Allison Act in 1878 requiring US Treasury purchase of silver for general circulation as dollars. The initial coin issues were named after George T. Morgan, then the US Mint's designer, who rendered Lady Liberty on the obverse side bearing his monogram. The silver content of this coin totals 0.77344 troy ounces or 24.057 grams with .900 fineness. The Philadelphia mint exclusively produced all proofs of the Morgan silver dollar, although there are also 1921 proof coins known to have come from the San Francisco mint.
The many varieties of these coins has been included in an extensive research undertaken and published by Leroy C. Van Allen and A. George Allis about 50 years ago to establish the variations in the dies used to mint US silver dollars. This led to having the Morgan Silver Dollar Values indicated in its variety classified under the so-called VAMs (for Van Allen-Mallis).
By: Christina Goldman
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