Methods Teaching Money Counting Skills

Counting money is a critical functional skill for all students. For children with learning disabilities but average intelligence, money not only gives them access to things they want to purchase, but it also builds a foundation for understanding the base ten systems of numeration. This will help with them learn decimals, percents, the metric system, and other skills that are vital for science, technology, and the social sciences.

For students with intellectual disabilities and lower functionality, counting money is one of the skills they will need for self-determination and for the opportunity to live independently in the community. Like all skills, counting and using money needs to be scaffolded, building on strengths and teaching the "baby steps" that will lead to independence.

Coin Recognition

Before students can count coins, they have to be able to correctly identify the most common denominations: pennies, nickels, dimes, and quarters. For low-function students, this may be a long but worthwhile process. Do not use fake plastic coins for low-functioning students with intellectual or developmental disabilities. They need to generalize coin use to the real world, and the plastic coins do not feel, smell, or even look like the real thing. Depending on the student's level, approaches include:

• Discrete trial training: Present only two coins at a time. Ask and reinforce correct responses, i.e. "Give me a penny," "Give me a nickel," "Give me a penny," etc.
• Use errorless teaching: Point to the correct coin if the student picks up the wrong coin or seems to waffle. Collect data and don't introduce a new coin until the child is at least 80 percent accuracy.
• Coin sorting: After the child has succeeded with discrete trial training, or if the child quickly seems to be distinguishing the coins, you can give them practice by sorting coins. Place a cup for each denomination, and place the mixed coins on the table in front of the child. If the child recognizes numbers, put the coin value on the outside of the cup, or place one of the coins in the cup.
• Matching coins: A variation of sorting coins is to match them to the values on a cardstock mat. You could add a picture if it helps.

Counting Coins

The goal is to help your students learn to count coins. Counting money requires understanding the base ten math system and strong skip counting skills. Activities with a hundred chart will help build these skills. The hundred chart can also be used to help teach counting money as well.

Money should begin with a single denomination, ideally pennies. Counting pennies could easily accompany learning to count, as well as introducing the cents sign. Then, move on to nickels and dimes, followed by quarters.

• Number lines and hundred chart: Make paper number lines to one hundred or hundred charts. When counting nickels, have the students highlight the fives and write the fives (if they are not on the number line). Give students nickels and have them place the nickels on the fives and recite out loud. Placing the coins and reciting out loud make this a multi-sensory unit. Do the same with counting dimes.
• Giant number line: This activity ramps up the multisensory element of money and skip counting. Paint a giant number line (or get parent volunteers) on a paved portion of the playground or school courtyard, with the numbers one foot apart. Have individual children walk the number line and count the nickels, or get giant nickels from a bulletin board set and have different students stand at different points to count off by fives.
• Coin templates: Create counting templates by cutting out facsimile coins and pasting them on five-inch by eight-inch file cards (or any size you find most manageable). Write the value on the card (front for low-functioning children, on the back as a self-correcting activity). Give students nickels, dimes, or quarters and have them count them out. This is an especially useful technique for teaching quarters. You need only make one card with four quarters and the numbers 25, 50, 75, and 100. They can count multiple quarters in rows.

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What Is Tibetan Silver?

Tibetan Silver is the name given to the metal used in some jewelry available online, such as on eBay or via Amazon. These items typically ship from China. Have you ever wondered how much silver is in Tibetan Silver or about the chemical composition of Tibetan Silver? Would you be surprised to learn that this metal can be dangerous?

Tibetan Silver is a silver-colored alloy consisting of copper with tin or nickel. Some items described as Tibetan Silver are cast iron that has been plated with the silver-colored metal. Most Tibetan Silver is copper with tin rather than copper with nickel because nickel causes skin reactions in many people.

Health Hazards

Ironically, the metal often contains other elements that are much more toxic than nickel. It is inadvisable for pregnant women or children to wear items made with Tibetan Silver because some of the items contain high levels of dangerous metals, including lead and arsenic.

eBay issued a buyer warning so that bidders would be aware of the metallurgical testing conducted on Tibetan Silver items and the possible toxicity of these items. In six of seven items that were analyzed using x-ray fluorescence, the primary metals in the Tibetan Silver were actually nickel, copper, and zinc. One item contained 1.3% arsenic and extremely high lead content of 54%. A separate sampling of items revealed comparable compositions, with trace amounts of chromium, aluminum, tin, gold, and lead, although in that study, all of the samples contained acceptable levels of lead.

Note that not all items contain toxic levels of heavy metals. The warning for pregnant women and children is intended to prevent accidental poisonings.

Other Names Tibetan Silver May Go By;

Sometimes comparable metallurgical compositions have been called Nepalese silver, white metal, pewter, lead-free pewter, base metal, or simply tin alloy.

In the past, there was an alloy called Tibetan Silver that actually did contain the element silver. Some vintage Tibetan silver is sterling silver, which is 92.5% silver. The remaining percent could be any combination of other metals, although usually, it is copper or tin.

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Why the Copper Penny Is Worth More Than One Cent

The prices of most commodities have risen substantially since the turn of the century, and some of the coins you have in your pocket or piggy bank are worth more today than in the past.

How much is a copper penny worth? 

Pennies used to be made from 95% copper, at least until 1982. United States Mint. "Copper Half-Cent and One-Cent Coin Legislation."Since 2000, the price of copper has risen dramatically, making the meltdown value of these pennies more than the face value of the coin. Commodity prices continue to rise and fall with market changes, which affect the current metal value of the penny. It's illegal to melt down 5-cent and one-cent U.S. coins. Investors hoping to gain from the future worth of the copper in their old pennies are counting on the penny eventually being discontinued as legal tender and the government allowing the copper coins to be sold for the value of their metal.

The Copper and Zinc in a Penny

A pre-1982 penny consists of 95% copper and 5% zinc. It contains about 2.95 grams of copper, and there are 453.59 grams in a pound.5 The price of copper on Dec. 10, 2019, was $2.75 a pound. Macrotrends. "Copper Prices - 45 Year Historical Chart." That meant the copper in each penny was worth about 1.7 cents. Thus, the meltdown value of a pre-1982 penny was about 70% more than the face value.

Beginning in 1982, pennies began to be manufactured out of zinc, amounting to 97.5% of the mass of the coin, with a thin copper coating that amounted to 2.5% of the penny's mass. Some pennies dated 1982 are of the almost-all-copper type, and some are the mostly zinc kind. You can tell them apart by weighing them if you have a sensitive scale: The majority-copper ones weigh 3.11 grams, and the majority-zinc ones weigh 2.5 grams.

The price of zinc has also increased since 2000, though it's down from a peak of $2.06 a pound in November 2006. As of Dec. 10, 2019, zinc was valued at $1.02 a pound. The 2.43 grams of zinc in a post-1982 penny was then worth six-tenths of a cent.

Buying Pennies

You can go to a bank or anywhere else that has large quantities of pennies and buy them at face value, but it can be time-consuming to sort through and isolate the mostly copper ones. Some companies sell bulk pennies that have already been sorted, but they will charge you a premium.

A Warning About Legality

Because of the increasing value of copper and other metals, in 2006, the U.S. government imposed a penalty for melting pennies or nickels: a fine of up to a $10,000 or up to five years in prison or both.3 For that reason, if you're thinking of buying up lots of copper pennies, you would have to consider it to be a long-term investment.

The U.S. Mint has entertained the thought of stopping penny production because of the high price of minting the coin but has yet to officially do so. Many other countries have already done away with their version of the penny. If and when the U.S. penny is abandoned, it is likely to become legal to melt the coins down for their copper content.

Collecting and Storing Pennies

Investors and collectors have already begun hoarding pennies. It will likely become more difficult to find pre-1982 pennies in the years to come, especially if the price of copper continues to move higher. One thousand dollars worth of pennies consists of 100,000 coins, and $10,000 is equal to 1 million pennies. If you decided to get your hands on such a large number of pennies, you might run into a storage issue.

On a smaller scale, there's nothing's wrong with sorting through spare change every week and putting the copper pennies in a container to save for the day when they could be worth a good deal more.

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How Are Coins Made?

 

 

In this video, learn how the United States Mint makes coins!

The Ten Most Valuable Coins in the United States

The following coins listed below are the most valuable coins in the United States. However don’t go digging through your coin jar just yet looking for them…5 are owned by the Smithsonian and  the other 5 are held by private collectors.

 1849 $20 Liberty gold piece, PR64 – $20,000,000. The first $20 gold piece struck at the U.S. Mint. This piece is struck in proof and is unique. This incredible piece of numismatic history is in the Smithsonian Institution.

 1907 Indian Head $20 St. Gaudens gold pattern, PR69 – $15,000,000. This unique gold pattern was designed by famed sculptor Augustus Saint-Gaudens. It marries Saint-Gaudens’ $10 Indian Head obverse design to his $20 reverse design. Some numismatists refer to this coin as “Teddy’s coin” in reference to President Theodore Roosevelt’s involvement in coaxing Saint-Gaudens to redesign our nation’s $10 and $20 gold pieces.

1877 gold pattern $50 (J-1546) PR67 (estimated grade) – $15,000,000. This is the famous “Half Union” pattern $50 gold piece. It is unique and in the Smithsonian Institution.
 1877 gold pattern $50 (J-1548) PR67 (estimated grade) – $15,000,000. A variation on the design of the $50 gold pattern listed above. This one is also unique and in the Smithsonian Institution.

1907 Double Thick Extremely High Relief $20 St. Gaudens, PR69 (estimated grade) – $8,500,000 (two coins). Augustus Saint-Gaudens’ “Extremely High Relief” design for the $20 gold piece is arguably the most beautiful coin ever made. Saint-Gaudens’ design was struck in several variations including two examples that were smaller in diameter and “double thick.” Both of these “double thick” gold patterns are in the Smithsonian Institution.

 1794 Silver dollar, SP66 – $7,850,000. Silver dollars were first struck in 1794 and this is believed by some to be the very first one struck. It changed hands in 2010 for $7,850,000.

1804 Silver dollar, “Original” or Class I, PR68– $7,500,000. The 1804 silver dollar is one of the most famous United States coins. A small handful of these coins were struck (actually beginning in 1834 and back-dated) for presentation to dignitaries including the King of Siam and the Sultan of Muscat. The finest is the Sultan of Muscat-Virgil Brand-Walter Childs specimen graded PR68 by PCGS and now in a private collection.

 1804 Silver dollar, “Original” or Class I, PR67– $6,500,000. This is the specimen in the still-intact King of Siam proof set.

1822 $5 gold piece, EF45 (estimated grade) – $6,000,000. There were 17,796 $5 gold pieces struck in 1822, but only three survive today. Two are now in the Smithsonian Institution and this coin, the finest of the three, is now in a private collection. This coin was last sold in the October, 1982 auction of the Louis Eliasberg gold coin collection where it realized a then-record $687,500.

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Tips for Selling your Sterling Silver Flatware

Silverware sets are one of those things that tend to get passed down for generations within a family. In many instances, families may own silverware and flatware that is over 100 years old. While baby boomers and members of older generations often kept silverware sets as a family heirloom, people of younger generations are less interested in keeping them. Large sets of silverware and flatware take up space and require polishing if they have become tarnished over the years. Fortunately, flatware and sterling silverware sets can be worth a good amount of money, making it worth your time to sell your unwanted silverware.

The pieces of a silverware set are either made from real sterling silver, or they are made with a different metal and plated with silver. It is important to figure out whether your flatware is sterling silver or plated silver before trying to sell it. The easiest way to determine this is to look at the markings from the manufacturer on the individual pieces. Pieces that are silver plated are typically marked with phrases such as “silver plate,” “plated,” “EP” for electroplated, or “EPNS” for electroplated nickel silver. If there is no marking on the silverware, the pieces are most likely silver plated. Sterling silver flatware is virtually always marked as such. American made sterling flatware is typically marked with the word “sterling” or the shortened “ster.” Silverware made in other countries is often marked with the number 925 which refers to the 92.5% concentration of silver in sterling silver objects. Some flatware may also be marked with the word “coin” which means that the pieces are made from melted coins. Flatware marked “coin” is usually about 90 percent silver.

If your flatware set is silver plated, it is best to keep it and use it. Silver plated flatware has very little resale value because it is expensive to remove the silver plating. If you determine that your set is sterling silver flatware, then you must dig a little deeper to get a better idea of the set’s true value.

Finding the Value of Your Sterling Silver Flatware

Just because your flatware is sterling silver does not mean it is worth a lot of money.  There are other factors to take into account when trying to gauge the value of your sterling flatware:

• Condition: The condition of the pieces has an impact on the value of the set. It is common for silverware to have small scratches and dings, but any further damage can cause a serious loss in value.  Do not worry if your silverware is tarnished, this can be fixed with polish.  However, it is better not to try and polish the silverware yourself because you could ruin the factory finish.
• Market Price of Silver: The price of any silver objects is always going to be tied to the market price of silver. Check the current market price of silver before you sell your silverware to get an idea of the current silver price.  Weighing your silverware and converting the weight into troy ounces will give you a better idea of its value.
• Patterns & Designs: The patterns on pieces of flatware can add to the value substantially if they are old or rare. Resources like http://silverpattern.com can help you determine the style and age of the pattern.
• Monograms: You should check the flatware pieces to see if they include any monograms or custom markings. Monograms can actually lower the value of your flatware set.
• Individual Pieces: If you do not have the complete flatware set, you can still make money selling the individual pieces. Common pieces like forks, spoons, and knives are worth less than hard to find pieces such as cocktail forks, carving forks and knives, barware, demitasse spoons, and other pieces.
• Complete Set vs. Individual Pieces: If you have a complete sterling flatware set that includes serving pieces, you can get a higher price selling the entire set than by selling the individual pieces.

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Thinking Of Becoming A Coin Collector? Here Are 5 Simple Steps To Get You Started.

Step #1: Get to know your “mint lingo”

Like any specialized hobby or discipline, the world of coin collecting has its own language...

Here are a few key terms to get you on your way:

• Circulation coins: Coins that have been used in commerce and circulated among the general population.
• Commemorative coins: Coins that are minted to commemorate a particular event, person, place, institution or issue. These are usually collector coins, and not circulated. (Also known as numismatic or collectible coins.)
• Face value: The nominal value displayed on the coin (not what you paid for it).
• Intrinsic value: The actual value of the coin, based on key factors including what you paid for it, plus the historic value, aesthetic features, mint year, scarcity/rarity (mintage), and collectability.
• Mint: An industrial facility that manufactures coins (e.g., Royal Canadian Mint).
• Minting: The process of manufacturing coins.
• Mintage: The number of coins issued of a particular design.
• Numismatics: The study or collection of coins or paper money.
• Numismatist: A student or collector of coins or paper money.
• Proof coins: Coins that are minted using a high-quality finish.
• Uncirculated coins: Either a circulation coin that has never been circulated, or a coin with a brilliant field over a brilliant relief.

Coin “anatomy” terms

The body of a coin has some specific terms as well. Here are some of the most popular:

• Obverse: The “heads” or face/front side of a coin, which normally depicts the national emblem or the head of a prominent person.
• Reverse: The “tails” side of a coin, usually depicting the chosen design.
• Relief: The raised or three-dimensional image found on a coin’s field.
• Field: The flat part of the coin (the background) on which the relief is struck.
• Rim: The raised portion that runs around the perimeter of a coin.
• Edge: The outer border of a coin, considered the “third side.” May be plain or serrated.

Step #2: Just start collecting!

You can begin your coin collection by doing two things:

• Acquiring coins that appeal visually and emotionally to you; and/or
• Collecting coin sets.

To a collector, a coin can be precious for many reasons...

Certainly, it may be because of its intrinsic value. Or because it’s made of rich materials like pure silver, pure gold, or platinum. But at its core, collecting coins is about creating something of significance — to you. So simply begin your collection by acquiring coins that pique your interest.

Invest in coin sets

You can also grow your collection with coin sets. A coin set is a collection of uncirculated or proof coins, released by a mint. Practically every mint worldwide produces uncirculated sets. These are in true “mint” condition and make for a great budget-friendly “starter set.”

Here’s a fun fact: the Royal Canadian Mint is the only mint worldwide that offers “specimen sets.” These are coin sets of higher quality (and higher cost) than uncirculated coins, with a finish combining a brilliant, frosted raised foreground over a lined background.

Step #3: Define your collection type

Over time, you may notice similarities across your growing collection. It may be the glimmer and gleam of gold and silver. Or it could be the design. Or maybe you’re attracted to unique coin shapes and colors.

Whatever those attributes may be, taking note of them will allow you to:

• Define more specifically what you want to collect, and
• Create coin sets based on type.

It’s not necessary to collect coins based on type, but it can certainly make collecting more fun and rewarding…especially when you find specific coins you’ve been hunting for!

Collection types for beginners

Here are just a few ideas of for “type” collections:

• Year/date: Collect coins made in a particular year for a particular country. Or, get one coin of a specific type for every year it was minted — for example, the Canadian silver dollar from its first year to the present day.
• Country: Collect by the country you live in, or try to get a wide variety of coins from all over the world.
• Time period: Find coins minted during a specific timeframe. Fascinated with WWI? Round up coins minted between 1914 and 1918; or collect coins that are associated with that era.
• Design: Collect by design theme, such as animals, plants, flowers, sporting and cultural events, superheroes and other pop culture phenomena. The options are limitless!
• Metal/composition: Collect coins made of certain metals like copper, silver or gold.

Be flexible!

As a general rule, always apply a flexible mindset to your coin collecting. Your interests may change from when you first started. For example:

Let’s say you started your collection around the theme of WWI. Over time, you may want to narrow your collection down to aviation technology used during warfare. Maybe you began a general collection of gold coins — but you grow to have a particular interest in gold coins celebrating a specific milestone, like Canada’s 150th anniversary.

Step #4: Create your toolkit

Great news: you don’t need a lot of expensive equipment to start collecting coins!

However, you do need a few things to:

• Ensure they’re stored and handled properly, and
• Get the most out of the beginner’s coin collector experience.

Keep in mind: as you get more serious about coin collecting, you’ll eventually want to invest in more specialized coin-collecting supplies and tools.

However, this is a great starters’ kit:

• Magnifying glass (ideally 7x magnification): To see coins’ details up close;
• A notebook, index cards or software: To keep track of your growing collection;
• Storage holder: To keep your collection safe and dry;
• Cotton gloves: For handling your coins;
• A basic reference book: For general information about coin collecting.

Step #5: Take care of your coins

Caring for coins is not just a question of esthetics: your collection requires proper handling and storage to retain their value! So here are a few tips for keeping them in “mint” condition (so to speak).

Never handle with bare hands — only cotton

Skin oils and dirt damage your coin’s finish and value. So never handle coins with bare hands; instead, use cotton gloves. Moreover, avoid latex or plastic gloves, because their powder or lubricants can damage your coins.

Use caution while handling

Always pick up coins by the edges, between the thumb and forefinger. Never hold a coin by touching the obverse (front) or reverse (back) surface!

Afraid of dropping your coin when you’re handling it? Hold it over a thick, soft towel. Meanwhile, limit how much you talk when you handle your coins. Why? Because tiny, almost invisible drops of saliva can create impossible-to-remove spots.

Store and display safely

There are a number of different ways you can store and display your coins. For beginners who collect coins of lower value, you can keep them in acid-free paper sleeves or envelopes, tubes, or folders or albums.

As you expand your collection to include more valuable coins, experts suggest investing in small, PVC-free plastic bags or “slabs” (sealed, hard plastic cases). You may also want to arrange an appropriate level of insurance in case of theft or fire/water damage.

From pastime to passion

Whether you are collecting coins for yourself or for a loved one, doing so can fill an entire lifetime with interest and inspiration. Indeed, what begins as a pastime can easily become an absorbing pursuit — even a passion! Source