Happy Memorial Day!

 

Happy Memorial Day! Thank you for your service and time. 

Martinez Coin & Jewelry Exchange

3755 Alhambra Ave Ste 1

Martinez, CA 94553

CALL US: 925-335-9500

The First American and U.S. Coins: An Illustrated History

 

This video illustrates the underlying stories of the first American and U.S. coins.  As the video demonstrates, the story of America itself is closely connected with its coinage.

It’s important for collectors to understand the early history of American and U.S. coins and the precise distinction between the two.

We’ll delve into American colonial coinage and the 1652 New England shilling and the events leading up to the American Revolution.  

During the Articles of Confederation era of 1781-87, there was a confusing array of state-issued coinage and the Fugio cent.

Finally, we get to the Mint Act of 1792 and the beginning of U.S. coins following the adoption of the Constitution.

Coin Collecting as a Hobby Through History

Coin collecting dates back to ancient times and is one of the oldest pastimes on record. Roman Emperor Augustus liked to give inspiringly designed coins to his friends.

Coin collecting has been a popular hobby for many great and well-known figures throughout history. King George III and at least three U.S Presidents in Thomas Jefferson, John Quincy Adams and Franklin Delano Roosevelt were all known to have had an active interest in coin collecting. In fact, John Quincy Adams, serving president from 1825 to 1829, collected and studied coins and used his knowledge to guide the direction of early American currency.

From about the 15th century onward, coin collecting was mostly reserved for kings and statesmen who employed specialists to scout Europe and Asia for coins of significance and beauty.

Numismatic research was encouraged by nobilities and a major trade in coins was encouraged by mass excavations of ancient sites. King Louis XIV of France kept a large collection that he actively tended to each day.

The Victorian years saw the creation of many numismatic societies and from there came an entire industry of dealerships and enthusiast magazines to support the hobby. By the 21st century, coins were an accepted form of investment and gold and silver coins have become a stable point of investment in uncertain economies. 

Today’s hobbyists, just like Augustus, still treasure coins for historical merit and the immense sense of achievement.

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What Are the Best Coins to Collect for Investment?

If you enjoy collecting coins purely for the investment value, you may be wondering what coins are worth your time and money. This list can help you get started with the best coins to collect for profit.

1. Rare, Key Date Coins

The best coins to collect for investment are generally considered to be rare, key date coins in the best grade. Key date coins refer to coins that have a date or a combined date and mint mark that are incredibly rare and difficult to find. These also tend to be some of the most expensive coins in a collection, though the value or price of these coins is also determined by other factors, such as the survival rate, condition rarity, mintage and the popularity of the series among collectors.

2. High-Grade Coins

Purchasing a coin in a high grade is key to finding the best coins to collect for profit. A high grade affects how the value of your coin appreciates. Common, lower grade coins haven't appreciated as well as key date coins, so they may not be the best investment choice, though they can still be a lot of fun to collect and add to an album.

If spending thousands of dollars on a key date coin in a high grade isn't affordable for you, you may want to consider purchasing coins in the finest grade you can afford.

Coin experts believe many U.S. nickels are undervalued. Obsolete coins of a high grade, such as silver Kennedy Half Dollars, Walking Liberty and Franklin are also considered underrated.

3. Bullion Coins

Another coin that could be a great investment is a bullion coin. These coins are typically made from precious metal, such as silver, gold or platinum. Bullion coins make good investment coins because metals tend to rise in value over time.

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Mint Marks

Mint marks are letters that identify where a coin was made. In the past, they held the maker responsible for the quality of a coin. When the U.S. used precious metals such as gold and silver to make circulating coins, a commission evaluated the composition and quality of coins from each of the Mint facilities. These evaluations ensured that each facility produced coins to the correct specifications.

Philadelphia was the only branch in operation in the Mint’s earliest years, so identifying the source of a coin was not necessary. When the Mint opened branches in Charlotte, Dahlonega, and New Orleans in 1838, mint marks made their first appearance on U.S. coins.

However, the practice of not identifying Philadelphia’s coins continued even after the first branches were established. This changed in 1942. When nickel was removed from five-cent coins during World War II, the “P” mint mark first appeared on coins produced in Philadelphia. The mark’s position also moved from the right of Monticello to above the dome to indicate the new metal composition.

After the war, when use of the regular alloy resumed, mint marks returned to their former positions, and the Mint no longer used Philadelphia’s “P.” The Coinage Act of 1965 eliminated mint marks to discourage collecting while the Mint worked to meet the country’s coinage needs. So, no mint marks appeared on circulating coins from 1965 to 1967.

When mint marks returned in 1968, they were placed on the obverse, after having previously been on the reverse of coins. In 1979, the Susan B. Anthony Dollar was introduced. Once again, the “P” mint mark appeared. The following year, the “P” appeared on all of the denominations except the cent, which still holds true today.

Modern Mint Marks

American coinage today primarily uses four mint marks: "S" for San Francisco, "D" for Denver, "P" for Philadelphia, and "W" for West Point. Most circulating coins either have a "P," "D," or no mint mark (which signifies Philadelphia as the production facility).

In 2017, the “P” mint mark appeared for the first time on circulating pennies. This change was only for the 2017 issued cents, in honor of the U.S. Mint’s 225th anniversary.

In 2019, the “W” mint mark appeared for the first time on a circulating coin. West Point produced 10 million quarters for the America the Beautiful Quarters® Program.

Historic Mint Marks

Did you know that the "D" Mint Mark has been around since 1838, but it hasn't always stood for Denver? In 1838, three new production facilities began circulating coinage operatoins. This included one facility each in Charlotte, NC; Dahlonega, GA; and New Orleans, LA. Although all three ceased operations during the Civil War, the New Orleans Mint would resume production for another 30 years, beginning in 1879.

The Carson City Mint was established in Nevada to serve the coinage needs brought about by the Comstock Lode, the largest silver strike in the Nation’s history. Beginning in 1870, Carson City produced circulating coins in gold and silver but eventually ceased production for good in 1893.

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Happy Mothers Day

 

Happy Mothers Day! Enjoy your special day.

Martinez Coin & Jewelry Exchange

3755 Alhambra Ave Ste 1

Martinez, CA 94553

925-335-9500

How Coins Are Made - Inside U.S. Coin Factory

 

The US Mint makes 10 billion coins every year. It’s a remarkably efficient operation, with machines capable of sending out tens of thousands of coins a minute. These coins are survivable enough to withstand extreme heat and pressure in the manufacturing process, only to sit on the shelves for years afterward until they finally get the call to get sent out into the world at last.