Monday, November 17, 2014

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.

Gold Coin Collecting SuppliesKnow 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.

Monday, October 6, 2014

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!

Saturday, June 14, 2014

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.

Sunday, March 30, 2014

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?

Saturday, January 25, 2014

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.

Sunday, December 15, 2013

To clean, or not to clean....that is the question

I get asked this question once a month at least.  Do you think I should clean my coins before I put them in your coin cases?  While we sell many coin cleaners, in most cases from what I understand from many coin dealers, the value of a cleaned coin will typically go down, rather than up.  This makes a difference if you have a coin worth $1 vs a coin worth $500 or more.  So before cleaning a specific coin and placing them in a coin capsule, I would advise you to talk to your local coin dealer.

In reality, for kids just getting involved in the hobby itself, they typically have less expensive coins and I think that cleaning the coins allow them to see the actual coin a little clearer and would peak their interest more.  Rather than using a chemical coin cleaner or coin dip, perhaps try a coin wash, or a 100% cotton coin cloth to get started.  You might be amazed at how much dirt comes off.   We have a wide variety of coin accessories that might help you through this process.

Again, coin cleaning is a funny thing and a personal thing. I am re-posting a copy of an article posted online by Bob Reis from years ago to give you a more detailed look at cleaning coins (again this is his opinion, not the opinion of myself or SAFE Publications):

COIN CLEANING SECRETS OF THE ANCIENTS by Bob Reis

     I'll start this with a couple of axioms.  The first I heard from another dealer, to the effect that EVERY ancient coin has been cleaned.  The second, self-generated, is my personal assertion that any dealer who deals in loose coins has cleaned them on occasion.  These statements offered for amusement only, as many dealers will deny ever doing such a thing.
     One should look upon old coins with suspicion should they completely lack toning.  Example: I have seen a number of bright 18th century Russian coppers.  Their owners swore by them of course, but I could not bring myself closer to their point of view than "maybe."  I have, on the other hand, seen British conders, USA large cents, etc. with full luster, but they were subdued, not bright.  Bright old copper is improbable, but bright old silver does happen, and on silver you can do such a good job that you can't tell.  The fact is modern cleaning techniques are very good and you can be fooled.
 When discussing this subject two categories of state are important:
      A) the condition of the surfaces before the cleaning, and
      B) the material from which the item was made.
     In this exposition I will not go deeply into the chemical interactions which take place.  I will, rather, confine myself to practical considerations: what works with what kind of "dirt," what won't work, what reduces value, what enhances, etc.
A. STATE OF PRESERVATION
 A. Circulated
 B. Uncirculated
 C. Proof
B. MATERIALS
  1. Gold
  2. Platinum & palladium
  3. Silver
  4. Copper & bronze
  5. Brass (including aluminum-bronze)
  6. Iron and ferrous alloys
  7. Zinc, tin, lead, aluminum, nickel
A. STATE OF PRESERVATION
     The basic principle is that the better the grade the more likely the possibility that one can perform an undetectable cleaning job.  On some of the late proofs in precious metal, where all there is is some superficial toning, a "dip" may restore the thing to blazing original perfection.  This will be less possible with regular issue Uncs, and nothing will restore original luster to a circulated coin.  Details will be discussed below.
B. MATERIALS
1. GOLD
     Gold by itself will not tone, but coins are never pure gold, there is always some alloy, and the alloy will be subject to chemical attack.  Old gold will most likely have been buried in earth or water, and will be subject to physical encrustation and abrasion, as well as facing possible attack on the alloying metal.  Straight out of the ground these things will often have a coating of dirt.  Base specimens may show pitting where the alloy has been leached by acid conditions.
     On good gold there should be no pitting.  The color might be a bit dark. This will more likely be due to dirt than oxidation, so a bath in soapy water would not be amiss.  You want to be careful what you use to scrub your gold with though, because nothing is easier to scratch and abrade than gold.  I'd suggest fingers and perhaps a carefully wielded Q-tip or similar.  No pressure should be applied.  The lightest of touches only.  But look carefully at your old gold.  Probably someone has already tried to clean it, and probably you can see where they tried too hard.
     Biggest problem with gold is not dirt, but jewelry mounting.  Many old coins were so treated.  Many times the evidence has been skillfully removed. Five out of five 18th century Russian gold coins recently examined by me showed ambiguous evidence of having been mounted.  The removal of the traces was skillful enough that the seller was able plausibly to deny that the traces existed.  This kind of tooling is common on old gold and silver, and often is of high enough caliber that you can't tell with naked eye.  20x magnification will usually clear up the ambiguity, but not always.
2. PLATINUM & PALLADIUM
     Coins made of these metals typically don't get dirty, are not reactive, are hard, and thus are not usually cleaned.  Nevertheless, one often runs into 19th century Russian platinum coins which have been treated with abrasive or polished, the desecrations performed not doubt by idle rich of bygone years with nothing better to do than ruin coins.  As far as the chemistry is concerned, you can dunk these into most anything: acid, base, organic solvent, etc. and it won't hurt the coins.
3. SILVER
     Now we get to the real business.  Silver surfaces are chemically responsive, and can develop salt and oxide layers of various colors, depths, and degrees of adherence.  All of these can be removed.  Some are more difficult than others, and with some you'll wish you hadn't.  But by and large, most silver coins will clean nicely, and often the appearance of a coin can be improved considerably without leaving any definite evidence that something has been done.
     I've cleaned a lot of silver coins.  The vast majority had favorable results.  I've done this for so long that I've developed a general routine I follow for silver.  Here's a list of my personal dos and don'ts:
     1.  For dirt and minor toning (brown is oxide, gray and black is sulfide) I carefully place the coins in a jar of straight household ammonia and leave them there for 15 minutes to 3 days or so.  The dirt and most of the toning come off.  The solution always takes on a blue color after a while, sooner with base coins, later with purer alloys.  The blue is copper in solution, but I have never, over 20 years of doing this, created pitting, not even under 20x magnification.
     What you get at the end of this treatment is a dirt free coin, lighter in color than it used to be.  If there were any deep tone spots they will still be present.  Silver coins will pick up black marks from contact with steel staples, such as are used to close 2x2 cardboard/mylar sandwich-type holders.  Ammonia won't touch them.  Green crust on old coins will eventually come off, you just need to be patient.  However, under the green you will often find a red copper oxide adhesion, which is  difficult.  Best result on red crust comes from alternate immersions in ammonia and vinegar or lemon juice (works just as well as hydrochloric or sulfuric acids).  Patience is required, and occasionally one might consider a little physical help with a sharp tool, if one trusts one's hand.  One can eventually get it all off with no marks.
     One occasionally finds coins from Central Asia and other places with what I call "purple yuck," and more refined people call "horn silver."  The coins have patches of dark encrustation that obscure the designs.  Yuck is a sulfur salt of some kind, but it is acidic, and under the crust the coin's surface has been lost to corrosion.  Ammonia won't touch yuck.  Neither will vinegar or lemon juice.  A long soak in battery acid will take it off, but then you'll have a pitted area.  Whatever you do, your coin will be worth less than when you started.
     2. After the ammonia bath comes the vinegar or lemon juice bath.  (Wash coins in soapy water between baths.)  Why acid?  The deeper sulfate layers will respond to acid where they won't to ammonia, I suppose because they're denser?  At any rate it's true.  Some people don't do the ammonia, start right with the acid.  The problem I see with acid is that its action is a little more vigorous, and if your spots or toning are too deep you will start to visibly erode the surface.  Large areas of deep toning will strip to an off-color matte gray, spots will turn into pits.  You need to know when to stop.  That takes experience, which comes from ruining coins.  So get some cheap coins to practice on.  This kind of problem hardly ever arises with ammonia.
     3. Both ammonia and weak acid will leave a circulated coin with a nice, mildly tony, completely natural looking "old silver" appearance.  High grade coins will have their luster.  Some deeper toning will remain in the recesses, and the overall result will usually be salubrious.  One can go further and strip the surface completely.  This is done by things like Jeweluster, Tarnex, etc., all of which are basically the same thing: versions of thiosulfate and various secret ingredients.  These will take away all of the toning and leave a bright coin.  The thiosulfate compounds give excellent results with high grade coins, but deeply toned coins are subject to the overkill mentioned above, and these chemicals will ruin your coin in minutes versus hours for weak acid.  Still, I use Tarnex frequently to brighten up tired proofs. Thiosulfates have limits too.  They often won't work on staple marks, or the heat sealing defects on some Franklin Mint proofs of the 70s and 80s.  They have no effect on crusts of any kind.
     To repeat my progression: ammonia, vinegar, Tarnex.  When all done wash in soap and water.  Handle by edges, carefully dry, place in inert package.  I think that's enough for silver.
4. COPPER & BRONZE
     Might as well include bullion too, any silver under about .350 fine.  Copper divides into two categories: been buried or hasn't been.  Unburied pieces will either have original red surfaces or will be toned various degrees of brown, but will have no encrustation or patina.  I generally don't mess with these other than to clean them if they're dirty.  That I do with soapy water or organic solvent.  I don't use ammonia or vinegar on these.  The result will be a mottled surface.  Won't look good.  In fact, I think there's very little to be gained from working on coppers of the 18th century onward. You can always tell when one's been messed with.  I think it's useless to try to restore mint appearance to toned copper.  Just stick it in an inert capsule and leave it as is.
     On older coins I follow a different policy.  A bunch of late Romans, or Indian dumps, or medieval European billons will most likely end up in the ammonia bath, some pieces staying in for weeks.  The solution becomes very blue.  Many of these coins are very dark or encrusted to the point that they have no value as is, and must be improved if anything is to be done.  Ammonia works on copper as on silver, except that pitting will happen to some small percentage of the coins.  "Silver wash" on late Roman coins is not disturbed by ammonia.  Usually you will have a cleaner coin with a normal looking surface.  Coins with green patina will lose the entire patina, and are likely to be pitted underneath.
     Red oxide is not touched.  On copper I often end up scraping it.  Sometimes this works, but sometimes there's nothing underneath the red patch.  A couple of times I've actually used a ball peen hammer to percuss patches off large Ptolemaic bronzes with good result.  A heavy duty ultrasonic cleaner might occasionally give similar results.
     By and large I've found ammonia worth applying, as it has turned many pieces of worthless junk into saleable pieces of junk. Use a utensil to get the coins out of the blue solution.  It'll stain your fingers.
     Acid is not nice to copper.  Pitting almost always occurs.  I recommend not to use.
     Tarnex on copper will give bad results to all except proofs and BUs.  It will not yield desirable results with fingerprints, nor will it restore lost lustre.
     I think artificial toners are stupid.  You can always tell.  Wipe the thing with an oily rag and put it in sunlight for a year or so.
     How to stabilize bronze disease (green powder).  This is a carbonate caused by acid conditions.  The easiest way to deal with it is to soak the coin in ammonia until all I mean all the green is gone, neutralize it in soapy water, dry carefully, and tuck it in an inert holder.  If it comes back that means you didn't bathe it long enough.  Do it again.
5. BRASS (including aluminum-bronze)
     The brasses do not clean well.  None of the things described above work.  Ammonia will mess up modern brass and aluminum bronze.  It will leave spots and create a "wrong" color.  Ancient orichalcum will respond more poorly to ammonia than copper or bronze.  Acid is murder on brass, and tarnex is only useful to freshen BUs and proofs.  I admit it, brass has stumped me for 3 decades.
6. IRON and ferrous alloys
     Start with ammonia for the dirt.  For rust you'll need an extended pickling in acid.  If the rust is too bad you'll have pits.  Rust is a fact of life.  Tarnex is useless.
7. ZINC, TIN, LEAD, ALUMINUM, NICKEL
     When you get an Unc piece of zinc or tin you need to put it in an inert holder immediately if not yesterday.  It's probably too late already.  These things suck up oxygen and grow spots in the dark.  You can then clean the spots off with acid, but they ALWAYS leave pits.  You can always tell when zinc has been cleaned.  Other than soapy water for dirt and organic solvent for pvc scuzz (you're probably too late) I wouldn't bother trying to clean zinc or tin.  As for lead, I wouldn't do anything, no matter what shape it was in, how deep the patina, how ugly it looks.  Old lead coins will be covered in tannish patina.  Strip that and it looks disgusting.  I don't mess with lead.
     Aluminum reacts badly with ammonia, and there's nothing else that works either.  This is not a problem though.  Aluminum doesn't do much other than get dirty and corrode.  Corrosion in the numismatic context usually comes from contact with acid paper envelopes, and is a whitish powder.  This can be removed with acid and stabilized, but you'll be left with a pit.  Either way your coin is ruined.  With aluminum at this point prevention is really your only option.
     Pure nickel will clean in ammonia or vinegar, and responds to tarnex like it should.  Copper-nickel, on the other hand, will quickly develop pitted surfaces in all three solutions.  I still dunk copper-nickel coins when I have to because of unsightly spots, etc., but I get them in and out fast: not more than a few minutes for ammonia and vinegar and not more than a couple of seconds for thiosulfates.
ORGANICS
     Organics come in two varieties: lacquer and scuzz.  Both have to be stripped before any chemical cleaning can be done.
1. LACQUER
     Lacquer happens.  It can save a coin when the alloy is reactive.  Lodz Ghetto 10 pfennig coins are examples of coins which should be lacquered, anything made of magnesium.  But most lacquer jobs are terrible and you have to strip it.
     All lacquer will come off with acetone.  Use a sealed jar, provide good ventilation, and work patiently with soft rag and Q-tip.  It'll come off.  On some coins, zinc for instance, lacquer may actually be a good idea.  In fact, why shouldn't we consider restoring precious metal coins to circulation with thick coats of lacquer to preserve intrinsic value?
2. SCUZZ
     The term is usually applied to green, adherent, acidic, sticky stuff that gets on coins that have been kept in PVC, a substance that is still in use for coin storage.  PVC scuzz can be removed with most organic solvents. Acetone usually works fine.  The scuzz occasionally ruins proof surfaces, and base metals in any condition can be spoiled, in which case nothing can be done.
    Another kind of scuzz is simple grease or wax.  Use any organic solvent.
SUMMATION
 I clean silver coins often, and "dip" them frequently.  I clean copper coins only when their salability in their uncleaned state is severely restrained, which is to say when I have nothing to lose.  Many times I get an improved coin which does not look cleaned, but a decent percentage end up worse than before.  I usually take the rust off iron.  I don't mess with brass, zinc, tin, aluminum.

Sunday, November 10, 2013

What size is it?

I was at the semi-annual Baltimore Coin Show this weekend and I had this question many times which actually comes up at many coin shows.  A collector collects a number of different coins, Morgans, Silver Eagles, etc.  Now of course I know some of the sizes of these coins in my limited memory banks, but most I do not.  In order to utilize Coin Albums, Coin Display Cases, Coin Flips or Coin Capsules, you need to know "what size is it?" (meaning your coin - ideally in millimeters).

In order to help you, I have created a little cheat sheet of common coin sizes (and not so common) from varying periods of history.  This list is not all encompassing, nor is it the bible.  This is a list I have accumulated over the years over conversations and over internet research.  But in order for you to get the best fitting Coin Album, Coin Display Case, Coin Flip or Coin Capsule, it would be better for you to measure the coin with a Coin Caliper.  A Coin Caliper is essentially a ruler for coins that will help you measure your coin in millimeters or inches.  This will ensure that you create the optimum environment for you coins.