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Collectors Article Of The Day

10 Fun Facts About Coins and Coin Collecting

By Sara L. Gray

For the beginner coin collector, you might want to enhance your experience with collecting coins by reading up on some fun facts about coins.

Fact #1: The U.S. Mint has minted over 300 billion coins in the last 30 years. These coins are worth around $15 billion.

Fact #2: The U.S. Mint is the worlds largest manufacturer of coins and medals. They produce coins not just for the United States but also for other countries as well.

Fact #3: The old 'Buffalo Nickel' has a profile of a Native American chief on the obverse (front). Collect a complete date and mintmark set and you could eventually sell it today for about 500-600 dollars. And if you were to collect the complete date and mintmark set of the uncirculated Buffalo Nickels, that would be worth between 26,000- 27,000 dollars. A complete set is from 1913-1938.

Fact #4: Speaking of Buffalo nickels, did you know that the buffalo - actually it is a bison - depicted on the reverse (back) of the coin roamed around in New York City at the turn of the century? He was named Black Diamond and less you think he was running wild and free down the streets, he was actually a resident of the Bronx Zoo!

Fact #5: True silver coins stopped being minted in the United States during 1964. Any coins made before 1964 retain their value in silver. This is what I like to do: besides looking at the date, look at the edge of your quarters and dimes. If the edge is only a silver color, then you have a true silver coin. If the edge looks like a couple of colors have been sandwiched together, then it's not a true silver coin.

Fact #6: A 5-cent coin was minted from 1942 through 1945. But guess what? They weren't nickels! How come? They didn't have a single bit of 'nickel' in them! What's special about this coin? It represents the time in our country when we were at war (WWII) and the U.S. Mint used a combination of copper, silver and manganese instead of nickel to make this 5-cent coin. They did this to save all the nickel that would have been used for coins and used it for the war effort instead.

Fact #7: Silver dollars have a couple of interesting nicknames: They have been called Ferris Wheels and Cartwheels.

Fact #8: Speaking of nicknames, in 1839, the penny had a good one. People called it the 'Silly Head'. Why? Because everyone back then thought the design of Miss Liberty on the obverse (front) of the coin looked down right silly!

Fact #9: After much digging and researching, coin enthusiasts found out that the Philadelphia Mint spent around $3 to purchase a watchdog to protect the mint. I wonder if the pup's name was 'Penny'?

Fact #10: Before technology as we know it today helped the mint process, men, oxen and horses were the source of power for the Mints' coin presses - before 1816. by 1836, the mints had graduated to using steam-operated coin presses.

About The Author

For more fun and easy ways to collect coins, check out Sara L. Gray's Web site called, Easy Coin Collecting where anyone from age 5 to age 99 can learn how to have fun collecting coins and do it starting with just your pocket change!

Gold & Silver Coin Bullion Info

When it comes to hand lenses, four or five powers of magnification seem to be the norm for many collectors. At these powers, an entire coin may be viewed all at once, which is especially useful when grading. Nevertheless, unless you are an experienced numismatist, you will not be able to see characteristics such as metal flow, die doubling, and counterfeit diagnostics on many coins when using minimal magnification. The micrograph shows the head detail of a genuine 1861-O CSA Obverse Seated half dollar. This view is close to what you would expect to see when using a 10� hand lens.
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Buy the scarcest coin in the best condition that you can afford. Many collectible gold coins sell near the melt price of gold because there are more than enough around to cover demand. When gold increases or decreases in value, these coins will follow. But the higher the grade, the lower the population and demand will push up the price rather than just following the price of gold.
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Although central banks do not generally announce gold purchases in advance, some, such as Russia, have expressed interest in growing their gold reserves again as of late 2005. In early 2006, China, which only holds 1.3% of its reserves in gold, announced that it was looking for ways to improve the returns on its official reserves. Many bulls hope that this signals that China might reposition more of its holdings into gold in line with other Central Banks.
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When collecting paper money, always try to collect uncirculated notes if they are current issues. In many cases, a note that is in less than uncirculated condition will never be worth more than face value. The colors are usually more vibrant on an uncirculated note and the artwork is frequently more 'crisp' and easier to discern. Of course older notes can often only be found in various degrees of circulated condition. In this case, only buy notes which are visually pleasing.
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