Coin Flip

Next time you flip a coin, you might want to pick the side that's already facing up. A recent University of Amsterdam study says that flipped coins have what's called a same-side bias. The study flipped coins in 46 different currencies 350,000 times and registered that 51% of the time the coins landed on the side they started on. The research could upend ideas about the fairness of flipping a coin. I guess you could always draw straws.

So next time you go to flip a coin maybe think again which side you choose!

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Understanding Coin Grading Basics

An important factor in determining the value of any coin is the condition it’s in. Has it seen much circulation? Is it well-struck? This is something that is quantified in a “grade.”

Coins are graded on a scale of 1-70, starting with 1 on the lowest end of the spectrum, and 70 representing the most pristine example possible. There are multiple grading companies that will evaluate your coins and encapsulate them in a sealed plastic holder with the assigned grade printed on a label. However, even if you’re not concerned with learning to grade coins yourself, it’s important to be familiar with this basic scale, to understand how numismatists ascertain value.

The scale we use today was created by Dr. William Sheldon in 1949 to determine accurate pricing for large cents based on their overall condition or state of preservation; the better the coin, the higher the price. Using this method, a Good 4 would be worth $4, a Fine 12 would be worth $12, and so on - and who wouldn’t be thrilled to spend just $65 for a beautiful Gem BU red large cent today?! Each number in the scale is accompanied by a shorthand term and there are detailed explanations available for each degree. For example, if you have a Very Fine 35, it would be referred to as a VF-35, or just a “35” by some. It’s also important to note that some numbers aren’t used. You’ll encounter pieces in VF-30 and VF-35, but never VF-32 - at least not yet. This could change however, based on future conditions in the numismatic marketplace. Some have argued that the grade AU-59 may come about some day if deemed necessary by enough collectors and dealers.

Poor 1, Fair 2, and Almost Good 3

The lower the number, the more heavily worn the coin. On a Poor 1 (PO-1) coin, the type and date are discernible, but not much else. You’ll typically be able to see outlines of major devices, but no detail and little to no lettering. This improves gradually through Fair 2 (FA-2) and Almost Good 3 (AG-3). Interestingly, a PO-1 is typically the most valuable of these three; many people put together “lowball sets,” where the goal is to have the lowest grade coins possible, resulting in more competition for PO-1 than FA-2 or AG-3. Many collectors enjoy coins of this nature as there is a lot of history associated with them, as opposed to some uncirculated specimens that only saw unexciting movement from one safe to another, trapped in a canvas bag for 150 years. Just imagine the stories some of these well-worn coins could tell us!

Good 4, 6, and Very Good 8, 10

The lowest grade where the design really starts to become visible is Good 4 (G-4). Most of the lettering is visible, though not all, or it may be very hard to make out. Coins from G-4 through Very Good 10 (VG-10) show quite a range in terms of how much detail is visible, but all are heavily circulated and clearly spent a lot of time in use.

Fine 12, 15, and Very Fine 20, 25, 30, 35

Starting at Fine 12 (F-12), the lettering and digits should all be clear and crisp. All the way up through Very Fine 35 (VF-35), circulation wear is still easily visible on high points with the naked eye. This wear will be visible down to recessed areas at F-12, but only noticeable on high points by VF-35.

Extremely Fine 40 and 45

Extremely Fine 40 (EF-40 or XF-40) is the lowest grade where you might not notice any circulation wear at a glance. However, under close inspection, EF-40 and EF-45 will both display minor wear on the high points, and with a bit of practice, it becomes easy to spot. Traces of original mint luster may remain in areas protected by design elements.

Almost Uncirculated 50, 53, 55, and 58

Almost Uncirculated (AU) coins are generally desirable and are commonly quite attractive. These pieces will display very little wear, usually discernible only by minor softness or color difference on the highest points of the design. They should show some original mint luster, and can be easy to mistake for uncirculated specimens to the untrained eye. In general, lower-end AU coins (ex. AU-50) will have low eye appeal, with a lot of bag marks, low luster, etc. AU-58 coins, however, are typically very well struck and appealing pieces that have almost unnoticeable wear. AU-58 pieces commonly come with a bit of a premium thanks to collectors working on “everyman sets,” which are entirely comprised of coins in AU-58 or below. Again, many collectors enjoy coins that saw some use as actual money but still show a great deal of originality, instead of pieces that just languished in vaults.

Mint State 60-70; No numbers are skipped between 60 and 70, and all of them are considered Mint State (MS). This is largely due to the intense trading of some uncirculated coins, which tend to be in greater demand by advanced numismatists. Minute differences in contact marks can translate into huge prices. These are coins that show no evidence of circulation wear and look the same as when they were first minted. The differences within Mint State grades are determined by the quality of the strike, luster, severity and location of contact marks, and most importantly, the general eye appeal of the piece. An MS-60 coin is usually a rather unattractive coin, often accompanied by numerous bag marks and very weak strike. An MS-70 is near impossible to find among many older types, and for the most part, only modern issues are able to attain an MS-70. Terms like Choice Brilliant Uncirculated or “Gem BU” are commonly used numismatic jargon for MS-63 and MS-65 respectively.

Details Grades; There are multiple flaws that are considered undesirable and will result in a “details” grade, lowering the value of the coin. If it has been cleaned, scratched, mishandled, or suffered other environmental damage, it will be considered problematic. These pieces still receive a verbal descriptor of the overall condition, but are not assigned a number (ex. EF Details). Source

Collecting Strategies – A Coin for Each Year

A collecting strategy for some collectors is that of trying to accomplish a date set of coinage. While this objective seems simple, there are many areas and considerations collectors pursuing this goal can take into account. The foremost of these considerations is what date to begin with.

For some collectors, a choice is made to collect a coin for each date they have been alive. Others will choose a date such as their parents’ birthdates or another date significant to themselves. However, several have chosen to start with a date of historical importance. For many American collectors, the one-per-year set starts with 1792, the first year the United States Mint issued coinage; others choose 1793 – a far more affordable choice than a United States issue from 1792.

Others who are not concerned with the coinage solely being from the United States may choose a date such as 1776, in which often Spanish Colonial, British, or French coinage is required to fill the dates needed. Some American collectors will also choose a specific denomination, such as cents or half dollars and collect a single date for each year of their issue. However, these series are not continuous, with no cents being issued the United States bearing the 1815 date.

For collectors not exclusively focused on the coinage of the United States, this set offers tremendous possibilities for diversity and longevity. A set of coins dated from 1600 to present wouldn’t be inconsiderable to complete. The difficulty for dated coinage comes for coins dated before 1500, where European coinage can date from as early as 1234 (This coin being an anomaly) and dating coinage doesn’t become continuous until the 1500s.

Many earlier-dated pieces are extremely scarce, yet people do pursue collections of dated coinage before 1500 and make that their specialty. European coins started to see dates beginning as early as 1372, however this is uncommon. Prior to this, most coinage is not dated with a single date but can be attributed to date ranges. For example, Byzantine Empire early ancient coinages, among others, can sometimes be dated in years of the reigning monarch. These years often correspond to the ruler in power and not to a calendar, yet they can be translated to corresponding Gregorian calendar years. The practice of collecting one coin per year isn’t typically done with ancient coins.

Like any collecting strategy, the particulars of collecting one coin per year is up to the individual collector when it comes to how they pursue to their goals. Whether it is a defined goal of a date or a moving goal that changes as the collector moves towards completion, the one-per-date set is an achievable and often affordable option for those who want to show the passage of time and history with each coin they add to their collection. Source

How to Clean Coins Without Damaging Them

 

 

Unlock the secrets to cleaning coins without damaging them with our step-by-step guide! Whether you're dealing with old, silver, or copper coins, we've got you covered. Learn effective techniques using baking soda, dish soap, vinegar, salt, coke, or lemon juice. Whether you're a seasoned collector or just discovered a jar of old coins, this video will guide you through proper cleaning methods to restore their shine and reveal hidden beauty. From old coin basics to silver, copper, and more, tailor your approach to each unique coin. Discover safe and effective cleaning methods, and remember to prioritize the preservation of your prized possessions. 

Tips For Selling Your Sterling Silver Flatware

Silverware sets tend to get passed down for generations. Often, families own silverware and flatware that’s over a century old. While older generations often kept silverware sets as family heirlooms, younger counterparts are typically less interested in keeping them for sentimental value. After all, large sets of silverware and flatware can take up a significant amount of space and require polishing if pieces have become tarnished over the years. And not many people are willing to display or take the time to polish old candelabras or matching salt and pepper shakers along with their great-grandmother’s forks and spoons.

Fortunately, sterling silverware sets can be worth a decent amount of money, making it worth your time to sell that unwanted silverware. The price of any given silverware set can vary wildly due to several factors, including age, number of place settings, purity of the silver, weight, manufacturer, design, as well as the current market price for silver. If you decide to sell a sterling silverware set you no longer wish to keep, the following tips can help attain top dollar:

Silverware set pieces are either made from real sterling silver or with different metals and plated with silver. It’s integral to determine whether your flatware is sterling silver, coin silver, German silver, or plated silver before trying to sell it. The easiest way to tell? Look at the hallmarks from the manufacturer on the pieces. Those that are silver plated will be marked with phrases such as “silver plate,” “plated,” “EP” for electroplated, or “EPNS” for electroplated nickel silver. Additionally, if there are simply no markings on the silverware, the pieces are most likely silver plated.

Sterling silver flatware, on the other hand, is typically always marked as such. American-made sterling flatware have the hallmark “sterling” or the shortened “ster.” Silverware from other counties are often marked with “925,” which refers to the 92.5% concentration of silver in sterling silver objects. You may also come across flatware marked with the word “coin,” meaning the pieces are made from melted coins. This flatware is typically about 90% silver. Source

7 Most Common Coin Collecting Themes

1) Country Collection

Country collection is one of the favorite coin collecting themes. Coin collectors who collect coins from different countries do their best to get their hands on current or past coins from as many countries as possible. This type of coin collecting would most likely be never ending since many countries keep on changing their currencies.

2) Year Collection

Year collections focus more on a specific coin and denomination. Under year collection theme, a coin collector will collect his coins by year. For example, an enthusiastic collector of the Lincoln cent may collect all Lincoln coins from the date it was first created in 1909 up to the present.

The challenge in year collection is to complete the collection in terms of year. Once a collector has completed the set of Lincoln cents, he will move on to another type of coin and start over again. Many enthusiastic coin collectors who collect coins by year will be able to complete several sets of coins during their lifetime.

3) Error Collection

Error collections are coin collections that are more focused on coins with mistakes on them. The mistakes on these coins may be either be very obvious or not at all. Older coins will usually have more mistakes because coins were minted by hand before the 19th century.

Another very interesting error is mule. These coins are very interesting because each side of the coin has a different denomination. Coin collectors usually desire coins with errors because they are very unusual. These kind of coins can seldom be found them nowadays as minting has become fully automated.

4) Subject Collection

Subject collections are the collections where collectors collect coins which have a specific subject like a ship or animals marked on the coin. To expand the subject collection, the collector would have to do a lot of research to find out which countries have coins with the subject of his collection.

5) Type Collection

Sometimes coin collectors collect coins which are designed in a particular way. For instance, a coin collector may collect certain coins which have a hole in the center. There are some countries which create coins with a hole in the center. This collector will collect coins from different countries but with holes in the center.

6) Composition Collection

Even the coin composition can be a coin collection theme. Some coins are created with a combination of 2 or more metals. There are international coins which are composed of different kinds of metals. Some countries make their coins bimetal and some may use more than two combinations of metal for their coins.

7) Period Collection

Period collections are collections based on the period from which the coins were created. Some collections consist of coins from the Victorian era. Other collectors may go as far down history as the Byzantine or Greek period for their collections. There are several periods which can be the bases for period collection.

Although there are different kinds of coin collecting themes, most coin collectors are generalists and they simply prefer to have a little bit of everything. In reality, coin collecting preference is all up to the collector and does not have to depend on a certain theme. Whatever a collector fancies in a coin can be the basis for the collection.

Many collectors strive to surpass each other by procuring the most sought after coins available. Coin collecting has now become a sort of competition for the collectors. Most collectors wish to outwit and outshine others with their collection of coins. However, there are also coin collectors who are just proud of having a unique set of coins not found in any other collector's collection. Source

Ancient Coin Books and Catalogues You Should Have

 

 

Every ancient coin numismatist needs a good reference library, with catalogues and specialized literature on their hobby! Today, Classical Numismatics gives you some examples of good beginners catalogues and books.