Assess Your Coin’s Value, Then Protect and Display Them Accordingly

Coins and currency are huge investments, and coins are valued and judged based on a wide variety of criterion.  Assessing a coin collection and determining coin value is important towards being a great coin collector with a stunning collection.

Everybody starts somewhere, and even the most grizzled, veteran coin collector can use some advice now and then. That being said, here are some ways to determine coin value and boost the organization and presentation of your collection.

Know Your Materials
The market prices of precious metals like silver and gold are volatile, dynamic numbers that can literally change every minute.  That being said, it’s important to know the materials that your coin is comprised of.  This can have a huge bearing on the value.  Silver and gold coins are becoming scarce in America, and even small antique three-cent coins can be worth more than 2000% of their original value.  It should go without saying that a silver nickel will be worth more than zinc or nickel one based on the intrinsic value of the metals alone.

Understand Mintage and Numismatic Value
“Mintage” simply refers to the insignia that refers to the mint that a coin was stamped in.  Often, mintage is confirmed by small markings on the backside of a coin.  These markings can be subtle and hard to find, often requiring magnification and visual aids that can be purchased on our website.  But having the right mintage credentials will increase a coin’s value by multiples.  And once you know which mintage you have, you will need to evaluate the grade of the coin, determining what kind of shape the coin is in.  Unfortunately this can be very subjective, but many dealers can help you with that.  And you can learn more about how to determine a coin’s grade by educating yourself.  The mintage and the grade will determine the coin’s numismatic value, rather than simply its bullion value.

Know the Value of Gold
There’s more to collecting gold coins than their uncirculated shiny luster, though that is a plus.  Buying gold has become a great way to invest your money and receive a great return on investment.  The price tends to fluctuate, but it will always retain a high value; much higher than silver or copper, and much more plentiful than platinum.
That being said, collectors holding onto gold coins should preserve the value of their coins.  This can be done with a wide variety of methods, including specialty coin holders and hard plastic coin capsules.  Protecting gold coins from wear and tear greatly enhances their value and ensures that the money you invest in them will grow, or at least not deteriorate to the point of worthlessness.

Also, beware that there are a lot of places out there that will try and “buy” your gold for much less than it’s worth.  Figure out the value of your coins by checking several sites and sources, instead of simply trusting the first one, especially if that first one is someone trying to purchase your collection. 

If you check a website such as goldprice.org, you may notice that some of the highest rated gold products on that site are coins.  One good example of a coin with rich, high-quality gold content would be the Liberty Twenty Dollar Gold Coins, which can be worth over $1,000 even in poor condition.

Now that it’s understood that gold coins are not only beautiful, but a great way to invest your money and create a great asset, it’s important to…
Guard Your Assets
Museums love to put their gold and valuables on display, but most collectors are not running museums.
It’s important to have good surveillance, even if it’s just one camera, it can make the difference between losing a collection and catching a thief.  Sometimes it’s best to ensure that your cases are non-discriminant and maybe even without display windows.  It’s much harder to steal when someone has to guess, pick and choose between where they want to look for valuables.
Protecting your assets is an integral part of respecting and honoring your collection. A poorly protected collection is a dangerous investment; don’t let your money go down the tubes.  Be careful who you show your collection to, and try not to brag online about your awesome Gold Eagles, Morgan Dollars or your American Buffalo Gold Coins. 
We at SAFE® Collecting Supplies don’t blame you for wanting to, but discretion is the better part of valor and exceptional collections should be limited to trusted friends, enthusiasts and family.
Enjoy your coin collection!
These few measures and tests only scratch the surface of coin value and grading.  Buying gold coins is a serious investment and we at SAFE® Collecting Supplies advise you to use great caution while investing any large amount of money.
For more information, you can check out coinweek.com, a site that contains many coin prices, guidelines and a lot of information on coin buying trends and the coin grading process.  Coinweek also offers daily news on coins, including price changes and discoveries.  Likewise, on the website, users can view a regularly published newsletter.  Part of being a collector is being sure to stay educated!
With these factors in mind, be sure to enjoy your coin collection and make it beautiful.  Check out SAFE® Coin Collecting Supplies for a wide selection of products to protect your coins as well as organize them in a way that either you or spectators will appreciate and learn from.

Why Coin and Stamp Collecting Books are Assets to All Collectors

Adequate preparation is needed when beginning the exciting hobby of collecting stamps and coins. If you are new to the world of stamp or coin collecting, you will find that the best way to benefit from collecting is to always be prepared!  What is the best way to prepare for a rewarding hobby in collecting? By reading and using stamp and coin collecting books! 

By using coin and stamp collecting books, you will present yourself as a well-informed and experienced collector. Having that special aura surrounding yourself can be the difference between convincing another collector to buy from you, or sell to you. As a collector or dealer, you will find yourself learning more each day by reading stamp and coin collecting books and using that information to your advantage to teach others about the rare coins you have collected throughout the years. 

Anyone interested in learning about coins will often turn to the internet to find the information they need. Why keep turning to the internet, if you have the books right at your fingertips! You can purchase stamp and coin collecting books and pull them out whenever you need them! Owning the actual books has many advantages because the books you buy have all the resources you need. This helps you avid the headache of figuring out what exactly to search for on the internet, which could take hours! 

Benefits of Coin and Stamp Collecting Books:

•  Find information on coins or stamps made in a particular year
•  Find information on coins stamps made in a specific part of the world
•  Buy pocket-sized books to carry with you and use at exhibits
•  Buy books with sleeves built in, so you can store your coins or stamps

If you are willing to invest in coin or stamp collecting books, contact us at SAFE Collecting Supplies today. Our website has much more information on all coin and stamp collecting supplies needed for success!

Coin Toning - why does it happen?

Recently I got into a discussion with a long time stamp collecting customer of our's who recently got started into coin collecting.  He asked me about coin toning, its causes and what can be done about it.  So thought it would be nice to share with everyone who doesn't understand why this occurs.

Toning is a natural process that coin collectors frequently encounter.  After all, coins are made of metal, and virtually all metals will corrode under the right environmental conditions.  As the chemistry of the surface metal changes, so does the coin's color.  With some metals it happens faster than others.  The key to keeping your coins as beautiful as the day you acquired them lies in your coin storage and how you store them.

The first line of defense is the coin holder itself which helps prevent the metal from interacting with the environment.  Plastic coin capsules that are virtually airtight offer the greatest protection against the environment and oxidizing agents.  Self sealing plastic flips offer the next level of protection that seals out much of the local environment.  Clear plastic flips with open pockets still offer good protection for the coin, but still leave the coin more susceptible to the environment around them. 

It is the surrounding environment that you store these coins, no matter what they are in, that will determine the accelerated oxidation.  The sulfur and organic compounds in cardboard can tone metals quickly.  If you leave a silver or copper coin sitting in a cardboard box, you are likely to see color changes.  When not protected from the natural surroundings, a coin can begin to oxidize immediately when stored within cardboard.  High humidity and temperature also will hasten the toning process.  Basements, attics and garages, with their extreme temperatures, are not good places for your coins.   Adding silica desiccant gels to your storage container, and changing them out every year is also a way to help your coins avoid susceptibility to the humidity.

Using common sense and high quality coin holders from SAFE, can keep your coins as fresh and beautiful as they are today.  Be confident that SAFE coin holders and coin capsules offer optimum protection from the environment.  And remember to avoid keeping your coins near materials containing volatile oxidizing compounds and store your collection in a stable environment.

Why does the plastic seem to get more brittle over time?

I had a question at the Baltimore coin show this weekend that we encounter from time to time from long time collectors.  Over the years, the plastic coin flips and coin pages that I keep my coins in seems to get more brittle over time.  With coin flips, they actually seem to crack.  Why does this happen?

I know what you mean about the brittle nature of the plastic.  This is the inherent problem with plasticizer and softener-free polyester.  Over time, they get even harder.  Without the softeners in the plastic, they are absolutely getting more brittle.  But believe it or not, its a good sign for your coins.

The alternative is putting softeners in the plastic which would harm the coins.  Cheaper coin album pages and coin holders/flips are available from other manufacturers that do this, because it may "seem nicer" to non-professional collector.  Not realizing that those softening agents cause problems over time to their collection.  So if your pages or flips are cracking, rest assured that your coins are safe.  If the look is bothering you, perhaps you should switch to a nice coin case with archival materials?

Counterfeit Coins - how can I protect myself?

Every coin show I go to I get into a discussion about counterfeit coins.  Collectors are always concerned about spending their hard money on a coin that later turns out to be a counterfeit.  So they ask how can they defend against this? A Coin Scale is the first line of defense!
There are a number of scientific measurements that can be used by the average collector to protect themselves against acquiring a counterfeit coin.  First and foremost, the weight of a coin is one of the determining factors in determining if a coin is authentic or counterfeit.  A precision digital coin scale is a must for any intermediate or advanced coin collector. The coin scale is used to determine the exact weight of a coin.  Additionally, a precision digital coin scale can be used to determine if the coin is an error coin.   For example, if a modern U.S. clad coin is struck on a silver blank or it is struck on a planchet from another denomination.

Most digital coin scales allow you to select the unit of measure (grams, ounces, etc.). It is most important that the scale measures in grams and has accuracy to 0.01 (1/100) grams.  But it also helpful to have it in troy ounces for gold, as well as pennyweight.  These measurement standards are often referenced in coin books which is where you will need to go to validate the weight of the coin.

Additionally it is ideal for you to check the specific gravity and density of the coin to verify that it is the proper metal used as originally designed.  This is done typically by simply using your digital coin scale as well as some other tools as shown in this picture at right.

Next time, we will talk about using a coin caliper for further validation of the coin.