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Neil S. Berman. Coin Collecting For Dummies
Coin Collecting For Dummies® To view this book's Cheat Sheet, simply go to www.dummies.com and search for “Coin Collecting For Dummies Cheat Sheet” in the Search box. Table of Contents
List of Tables
List of Illustrations
Guide
Pages
Introduction
About This Book
Foolish Assumptions
Icons Used in This Book
Beyond the Book
Where to Go from Here
Making Heads and Tails out of Coin Collecting
Welcome to the World of Coin Collecting
B.C: BEFORE COINS
On Your Mark, Get Set, Go: Starting Your Coin Collection
Eeny, Meeny, Miney, Moe: Deciding Which Coins to Collect
I Pledge Allegiance: Turning Your Attention to U.S. Coins
I'll Take That One, and That One, and That One: Buying Coins
Parting Is Such Sweet Sorrow: Selling Your Coins
Understanding Numismatics
Admitting Your Numismatism
Discovering How Cool Coin Collecting Can Be
Collecting versus Accumulating
Collecting Various Types of Coins
Gold and silver coins
Commemorative coins
BU Rolls
silver certificates
Getting Excited about Collecting Today
50 State Quarters
Sacagawea dollar
New commemorative issues
Error coins
Arming Yourself with Knowledge
Gaining Knowledge Before You Buy
Understanding the parts and purpose of a coin
Putting the book before the coin
Trade papers
Numismatic books
Price guides
Grading guides
WHAT WOULD YOU DO?
Mix and mingle
Affecting a Coin’s Value
Age: Good for wine, good for coins?
Condition: Pumping them up
THE HOARD FACTOR
Demand: Demanding high dollar
HOARDING WASHINGTON CARVER
Rarity: Hunting for treasures
Supply: Giving them what they want
Deciding What to Collect
Staying focused
Thinking long-term
Long-term price trends
Long-term opportunities
Storing Your Collection Correctly
Holdering Them the Right Way
Keeping Away from the Cleaning Products
Removing dirt
Handle with kid gloves
Wash your hands before touching
Ask before removing a coin from a holder
Watch out for the holder
Handle a coin by the edges
Keep your mouth shut
Hold a coin over a soft surface
Keeping Them High and Dry
Keepin’ ’em dry
Using a desiccant
Securing Your Stash: At Home and on the Road
Deciding between a home safe and a safe-deposit box
Carrying coins in your car
HOW ALARMING: A HOME SYSTEM
Carrying coins on a plane
How comforting is your inn?
Dealing with a robbery
Insuring Your Investment
Ancient to Present Day: Choosing Coins for Your Collection
Showing Their True Age: Ancient Coins
Ancient Coins — of Gods and Men
Deciding Which Ancient Coins to Collect
Ancient Greek coins
Ancient Roman coins
Biblical coins
Byzantine coins
Understanding How Age Affects Value
It’s All Greek to Me!
Knowing Where You Can Get ’Em
Making a Safe Bet with U.S. Coins
Discovering a Finely Tuned Market
Understanding Why U.S. Coins Are So Popular
Recognizing Desirable Coin Characteristics: Liquidity, Liquidity, Liquidity
Globetrotting with World Coins
A Few Hints for Beginners
Collecting by country
Collecting by denomination
Collecting crowns
Collecting by date
Collecting topically
Recognizing the Hot and Cold Countries
Understanding That Grading Standards Are Not All the Same
Obsession with quality is okay — to a point
Extremely Fine is not Extremely Fine is not Extremely Fine
Exploring the Wild Side with Rare, Expensive, and Esoteric Coins
Looking for the Best of the Best
Collecting Finest Known coins
Checking Condition Census
Recognizing Odd and Curious Money
Investigating Tokens, Medals, and Miscellaneous Coins
Hard Times tokens
Good For tokens
Civil War tokens
Washington medals
Collecting by Die Variety — the Spice of Life
Focusing on U.S. Coins
Colonial Coins: America’s Ancients
Recognizing a Colonial Coin
Locating Foreign Coins Used in the American Colonies
French coins
Irish coins
British coins
Spanish coins
London elephant tokens
Appreciating How Colonies and States Expressed Themselves
Massachusetts
New Jersey
Connecticut
Vermont
New York
Virginia
Collecting Privately Issued Coins and Tokens
Mott token
Brasher doubloon
Higley coppers
Distinguishing Quasiofficial Colonial Coins
Continental dollars
Fugio cents
Nova Constellatio coppers
Washingtoniana: America Goes Ape for Its First President
Unity States cent
1791 Washington large eagle cent
1793 ship halfpenny
1795 grate halfpenny
Liberty and Security penny
Copper and Nickel Coins: Made for the Masses
Getting the Hang of Half Cents
Major types of U.S. half cents
Liberty cap, head facing left (1793 only)
Liberty cap, head facing right (1794–97)
Draped Bust (1800–08)
Capped Bust or classic head (1809–36)
Braided Hair or coronet type (1840–57)
Collecting U.S. half cents
Living Large with Large Cents
Major types of U.S. large cents
Flowing Hair, chain cent reverse (1793 only)
Flowing Hair, wreath reverse (1793 only)
Liberty cap (1793–96)
Draped Bust (1796–1807)
Capped Bust or Classic Head (1808–14)
Matron head (1816–39)
Braided Hair or coronet type (1839–57)
Collecting U.S. large cents
Seeking Out Small Cents
Major types of U.S. small cents
Flying Eagle (1856–58)
Indian head (1859–1909)
Lincoln type, wheat ears reverse (1909–58)
Lincoln type, Memorial reverse (1959–present)
Collecting U.S. small cents
Taking on Two-Cent Pieces
Rounding Up the Three-Cent Nickel
Firing Up for the Five Cents (or Nickels)
Major types of U.S. five-cent pieces
Shield nickel (1866–83)
Liberty-head or V nickel (1883–1913)
Indian-head or buffalo nickel (1913–38)
Jefferson-head nickel (1938–present)
Collecting U.S. five-cent pieces
Silver Coins: Keeping Commerce Alive
Thrilling Yourself with Three-Cent Silvers
Major types of U.S. three-cent silvers
Collecting U.S. three-cent silvers
Hunting Down Half Dimes
Major types of U.S. half dimes
Flowing Hair (1794–95)
Draped Bust (1796–1805)
Capped Bust (1829–37)
Seated Liberty (1837–73)
Collecting U.S. half dimes
Digging in for Dimes
Major types of U.S. dimes
Draped Bust (1796–1807)
Capped Bust (1809–37)
Seated Liberty (1837–91)
Barber (1892–1916)
Mercury head (1916–1945)
Roosevelt head (1946–present)
Collecting U.S. dimes
Touring Around for 20-Cent Pieces
Calling All Quarter Dollars
Major types of U.S. quarter dollars
Draped Bust (1796–1807)
Capped Bust (1815–38)
Seated Liberty (1838–91)
Barber (1892–1916)
Standing Liberty (1916–30)
Washington head (1932–present)
Collecting U.S. quarter dollars
Holding On to Half Dollars
Major types of U.S. half dollars
Flowing Hair (1794–95)
Draped Bust (1796–1807)
Capped Bust (1807–39)
Seated Liberty (1839–91)
Barber (1892–1915)
Walking Liberty (1916–47)
Franklin head (1948–63)
Kennedy head (1964–present)
Collecting U.S. half dollars
Digging Around for Dollars
Major types of U.S. dollars
Flowing Hair (1794–95)
Draped bust (1795–1804)
Seated Liberty (1836–73)
Trade (1873–85)
Morgan (1878–1921)
Peace (1921–35)
Eisenhower head (1971–78)
Anthony head (1979–99)
Sacagawea (2000–present)
Collecting U.S. dollars
Gold Coins: Concentrated Wealth
THE HISTORY OF GOLD COINS IN THE UNITED STATES
$1 Gold Pieces
Liberty-head gold dollar (1849–54)
Indian-princess gold dollar (1854–89)
$2.50 Gold Pieces
Turban Head $2.50 gold piece (1796–1807)
Capped Bust $2.50 gold piece (1808–34)
Classic Head $2.50 gold piece (1834–39)
Liberty-head $2.50 gold piece (1840–1907)
Indian-head $2.50 gold piece (1908–29)
$3 Gold Pieces
$4 Gold Pieces
$5 Gold Pieces
Turban Head $5 gold piece (1795–1807)
Capped Bust $5 gold piece (1807–34)
Classic Head $5 gold piece (1834–38)
Liberty-head $5 gold piece (1839–1908)
Indian-head $5 gold piece (1908–29)
$10 Gold Pieces
Turban Head $10 gold piece (1795–1804)
Liberty-head $10 gold piece (1838–1907)
Indian-head $10 gold piece (1907–33)
$20 Gold Pieces
Liberty-head $20 gold piece (1849–1907)
Saint-Gaudens $20 gold piece (1907–33)
Commemoratives: Raising Money with Money
Commemorate This!
The Early Years (1892–1934): Commemoratives Under Control
The Age of Abuse (1934–54): Commemoratives Out of Control
Modern Commemoratives (1982–present): Money Coins
Circulating Commemoratives
50 State Quarters
Tips for Collecting Commemoratives
Advancing to Oddball Coins
Understanding Pattern Coins
Collecting Pioneer or Private Gold
Finding Confederate Coins
Appreciating Proof Coins
Recognizing Hawaiian Coins
Identifying Error Coins
THE STRANGEST ERROR COIN
Buying and Selling Coins the Safe Way
Wheeling and Dealers
Finding a Good Coin Dealer
Localizing Your Efforts
Going to the Nationals
Going Global
Evaluating the global pros
Weighing the global cons
Surfing the Net for a Deal
Grading and Authenticity, Rarity, and the Establishment of Value
MAKING THE GRADE
Factors That Affect Grade
Eye Appeal
Circulated vs. Uncirculated Coins
Precision Grading
Consistency of Grading
Proofs, Patterns, and Specimens
Overgrading and Overpricing
Grading Guarantees
Authenticity and Originality
Rarity and the Establishment of Value
Market Demand and Survival Rate
Foiling the Fakes
Resisting Temptation
KNOWING CRIMINAL MOTIVES
Becoming Your Own Expert
Finding Out about Repaired, Restored, and Recolored Coins
Cleaned coins
WALKING THE PLANCHET
Curated coins
Dipped coins
Scrubbed coins
Erasered coins
Whizzed coins
Repaired coins
Recolored coins
Getting Duped
Scams
Misrepresentation
Overgrading
Undergrading
Cheap offers
Caveating Your Emptor
Saving the Day: Return Privileges and Guarantees
No return privilege
Return privileges
Guarantees
Slamming the Scammers
Grading with the Pros
The Grading Process
Submitting coins to be graded
Grading
Encapsulation
Shipping
Numismatic Guarantee Company (NGC)
Professional Coin Grading Service (PCGS)
Certified Acceptance Corporation (CAC)
The Other Guys
Restoration and Conservation
Toning
Spots
Metal
Means to an end
Selling Your Coins Yourself
Knowing What to Expect
Deciding Whether to Sell Coins Yourself
Getting Ready to Sell Your Collection
Knowing what you have
Understanding that looks are everything
Getting the grading done beforehand
Pricing properly
Knowing Where to Sell Your Coins
Coin dealers
Selling your entire collection
Selling your collection one coin at a time
Coin shows
Direct marketing via publications or online services
Through specialty clubs
Through trade papers
Through online auction site
Mastering the Art of Selling
Be assertive
Talk ’em up
Appeal to a need
Convey a sense of urgency
Stick to your pricing
Sell from the bottom
Remain patient
THE 20/50/30 RULE
Keeping Good Records
Donating the Rest
Going Once, Going Twice: Buying at Auction
Flying Like Bees to Honey
Seeking a rare flower
YOU CAN’T BUY PUBLICITY LIKE THIS
Getting stung
Preparing to Buy
Obtaining the catalog
Reading the terms and conditions of sale
Registering to bid
Studying the catalog
THE ULTIMATE IN HIDDEN TREASURES
Choosing your battles
Setting your limits
Bidding
In person
GREAT MOMENTS IN AUCTION BIDDING
By mail or phone
Via an agent
Reserving Yourself
Hauling Yourself to Online Auctions
Getting Internet versions of auction catalogs
Using eBay
The Coin Auction Arena
Consignment Journey
If you are a seller
If you are a buyer
Heritage Auctions: “The Titan”
Top Performing Auction Houses
GreatCollections Coin Auctions
Legend Rare Coin Auctions
Stack’s Bowers Galleries
Lyn Knight Auctions
Goldberg Auctions
Kagin’s
David Lawrence Auctions
THE CATALOGUING PROCESS BY JOHN KRALJEVICH
Coin Investments, Taxes, and the Law
Investing in Coins in Theory
THE HISTORY OF COIN INVESTMENTS
RARE COIN INVESTMENT
Dealing with Taxes
Sales taxes
Income taxes
The Part of Tens
The Ten Most Valuable U.S. Coins
1933 Double Eagle ($18,872,250) PCGS MS65
1794 Flowing Hair Dollar ($10,016,875)
1787 Brasher Doubloon EB on Wing ($9,360,000)
1822 $5 ($8,400,000) PCGS AU50
1804 Bust Dollar ($7,680,000) PCGS PF68
1787 Brasher Doubloon EB on Breast ($7,395,000)
1861 $20 Paquet Reverse ($7,200,000)
1794 $1 (Lord St Oswald) ($6,600,000) PCGS MS66+
723 AD Umayyad Gold Dinar (£3,720,000-$6,029,400)
1804 $10 Proof Eagle (5,280,000) PCGS PF65+ DCAM
Ten Favorite U.S. Coin Designs
1792 Silver Center Cent
1849 Double Eagle
1907 Ultra-High Relief Double Eagle
1822 Half Eagle
1785 Immune Columbia Constelatio in Gold
1776 Continental Dollar
1793 Wreath Cent
1809–36 Capped Bust Half Dollar, Second Style
1794 Flowing Hair Dollar
1808 Quarter Eagle
Ten Ways to Get Your Kids Involved in Coin Collecting
Show Them Some of Your Favorite Coins
Show Them a Book That Illustrates the Coins You Own
Show Them Interesting Coin Websites
Start Them on Collecting the 50 State Quarters or the Presidential $1 Coins
Use Coins in a School Project
Take Them to a Museum
Take Them to a Coin Dealer
Take Them to a Coin Show
Take Them to a Coin Auction
Take Them to a U.S. Mint
Glossary
Index. A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
Y
Z
About the Author
Dedication
Author’s Acknowledgments
WILEY END USER LICENSE AGREEMENT
