1856 Flying Eagle Cent in Proof-63

 

THROUGH 65+ By the 1850s, the large copper cent had worn out its welcome. The U.S. Mint conducted tests to find a suitable substitute and settled at length on a smaller coin made from an alloy of 88% copper and 12% nickel. The coin was the same diameter as the current Lincoln cent, but thicker and twice as heavy. It carried a portrait showing an eagle in flight and is known as the Flying Eagle cent.

The Flying Eagle cent wasn’t struck for commerce until 1857. However, the Mint produced small quantities of the coin in 1856 for presentation to members of Congress, Treasury officials and other dignitaries.

Researchers estimate more than 600 were distributed and hundreds of restrikes were made a few years later, using the same dies, for sale to collectors of the day for a combined total of possibly 1,500 – all proofs. This is the nation’s first small-size cent. Prices are far from cheap: $25,000 in Proof-63, $40,000 in Proof-64 and $50,000 in Proof-65.

Discontinuance of the Lincoln cent should propel this small cent to great heights in 2023. Copper coins exposed to moist environments, even in grading service holders, deteriorate rapidly. Flying Eagle cents are considerably more stable. Source

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.

Source

Need Cash Now?

Earn immediate cash with Martinez Coin & Jewelry Exchange and Vallejo Coin Exchange

If you are in need of fast cash, don’t hesitate to call Martinez Coin & Jewelry Exchange or Vallejo Coin Exchange now.

We understand everyone has challenging times, so we can assist with your immediate cash needs. No matter the reason, we can help you in your time of need. We have over 30 years of experience in offering fair and honest prices. Bring your items to us, leave with cash. It is that simple.

GIVE US A CALL:

Martinez Coin & Jewelry Exchange

925-335-9500

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707-554-1754

Happy Labor Day!

 

“Perseverance is the hard work you do after you get tired of doing the hard work you already did.” 

— Newt Gingrich

Happy Labor Day Weekend! Enjoy!

3755 Alhambra Ave Ste 1

Martinez CA 94553

925-335-9500

Coin Terms To Know

 

Here is a list of coin terms to know when starting a collection...

Alloy: A mixture of two or more metals

American Numismatic Association (ANA): nonprofit educational organization that encourages the study of money throughout the world.

Annealing: Heating blanks (planchets) in a furnace that softens the metal

Assay: To analyze and determine the purity of metal

Bag Mark: A mark on a coin from contact with other coins in a mint bag

Bi-Metallic: A coin comprised of two different metals, bonded together

Blank: Another word for planchet, the blank piece of metal on which a coin design is stamped

Bullion: Platinum, gold or silver in the form of bars or other storage shapes, including coins and ingots

Bullion Coin: Precious metal coin traded at current bullion prices

Business Strike: A coin produced for general circulation (as opposed to a proof or uncirculated coin specially made for collectors)

Bust: A portrait on a coin, usually including the head, neck and upper shoulders

Clad Coinage: Coins that have a core and outer layer made of different metals. Since 1965, all circulating U.S. dimes, quarters, half dollars, and dollars have been clad.

Coin: Flat piece of metal issued by the government as money

Collar: A metal piece that restrains the expanding metal of a planchet during striking

Commemorative: A special coin or medal issued to honor an outstanding person, place, or event

Condition: The physical state of a coin

Counterfeit: A fake coin or other piece of currency made so that people will think it’s genuine

Currency: Any kind of money – coins or paper money – that’s used as a medium of exchange

Denomination: The different values of money

Die: An engraved stamp used for impressing a design (images, value, and mottoes) upon a blank piece of metal to make a coin

Designer: The artist who creates a coin’s design (but doesn’t necessarily sculpt the design)

Edge: The outer border of a coin, considered the “third side” (not to be confused with “rim“)

Engraver: An artist who sculpts a digital or clay model of a coin’s design in bas relief

Error: An improperly produced coin, overlooked in production, and later released into circulation

Face Value: The sum for which a coin can be spent or exchanged (a dime’s face value is 10¢) as opposed to its collector or precious metal value

Field: The portion of a coin’s surface not used for design or inscription

Grade: Rating which indicates how much a coin has worn from circulation

Hairlines: Tiny lines or scratches on coins, usually caused by cleaning or polishing

Incuse: Opposite of relief, the part of a coin’s design that is pressed into the surface

Ingot: Metal cast into a particular shape; used in making coins

Inscription: Words stamped on a coin or medal

Intrinsic Value (Bullion Value): Current market value of the precious metal in a coin

Key Date: A scarce date required to complete a collection, usually more difficult to find and afford

Legal Tender: Coins, dollar bills or other currency issued by a government as official money

Legend: Principal lettering on a coin

Medal: A metal object resembling a coin issued to recognize an event, place, person or group, with no stated value and not intended to circulate as money

Medium of Exchange: Anything that people agree has a certain value

Mint: A place where coins of a country are manufactured under government authority

Mint Luster: The dull, frosty, or satiny shine found on uncirculated coins

Mint Mark: A small letter on a coin identifying which of the United States Mint’s facilities struck the coin

Mint Set: A complete set of coins of each denomination produced by a particular mint

Mint State: Same as uncirculated

Mintage: The quantity of coins produced

Motto: A word, sentence or phrase inscribed on a coin to express a guiding national principle, such as, “E Pluribus Unum” inscribed on all U.S. circulating coins is Latin for “out of many, one”

Mylar®: Trademark for a polyester film used to store coins.

Numismatics: The study and collecting of things that are used as money, including coins, tokens, paper bills, and medals

Obsolete: A coin design or type that is no longer produced

Obverse: The front (or “heads”) side of a coin

Off-Center: Describes a coin that has received misaligned strike from the coin press and has portions of its design missing

Overstrike: A new coin produced with a previously struck coin used as the planchet

Pattern: An experimental or trial piece, generally of a new design or metal

Planchet: The blank piece of metal on which a coin design is stamped

Proof: A specially produced coin made from highly polished planchets and dies and often struck more than once to accent the design. Proof coins receive the highest quality strike possible and can be distinguished by their mirror-like background and frosted foreground.

Proof Set: A complete set of proof coins of each denomination made in a year

Relief: The part of a coin’s design that is raised above the surface, opposite of incuse

Restrike: A coin that is minted using the original dies but at a later date

Reverse: The back (or “tails”) side of a coin

Riddler: A machine that screens out blanks (planchets) that are the wrong size or shape

Rim: The raised edge on both sides of a coin (created by the upsetting mill) that helps protect the coin’s design from wear

Roll: Coins packaged by banks, dealers, or the United States Mint

Series: A collection of coins that contains all date and mint marks of a specific design and denomination

Slab: Nickname for some protective coin encapsulation methods, especially those that are permanently sealed and rectangular

Strike: The process of stamping a coin blank with a design. The strength of the imprint – full, average, or weak – affects the value of rare coins.

Type Set: A collection of coins based on denomination

Uncirculated: The term “uncirculated” may have three different meanings when applied to a coin:

• It can refer to the particular manufacturing process by which a coin is made
• It can be used as a grade when referring to a coin’s degree of preservation and quality of the strike
• It can point to the fact that a coin has not been used in everyday commerce

At the United States Mint, the term uncirculated refers to the special coining process used to make the coin, which gives it a brilliant finish. Uncirculated coins are manufactured using the same process as circulating coins, but with quality enhancements such as slightly higher coining force, early strikes from dies, special cleaning after stamping, and special packaging. Uncirculated coins may vary to some degree because of blemishes, toning, or slight imperfections.

Upsetting Mill: A machine that raises the rim on both sides of a blank (planchet)

Variety: A minor change from the basic design type of a coin

Year Set: A collection of all coins issued by a country for any one year (does not necessarily include every mint mark)

Source

Retiring Old Coins

 

Coins can last around 30 years in circulation before they’re too worn to use. When coins reach the end of their life, the Federal Reserve removes them from circulation. Old coins are melted down and used for other things.

Why Would You Want To Melt Coins?

The only time it ever makes sense to melt down coins is when the face value or collector's intrinsic value of that coin is less than the value of the metal used to make the coin. For instance, in 1979 and 1980, silver prices rose to just shy of $50 an ounce ” an all-time high. [1] As a result, an untold number of coins with silver content were melted down because their metal was more valuable than the coin's value.

This rarely happens. Generally, coins are worth more in numismatic value than they are when melted down. This is especially true when it comes to the costs of the melting process itself. However, it all depends on the current price of the metal and whether it is high enough to warrant the melting.

What Rules Are in Place for Melting Coins?

It's illegal to melt down coins in some countries. Canada, for instance, forbids the melting down of any Canadian legal tender in the country. Be sure to check in with your country's laws on melting or defacing official coinage before sending your coins off to the furnace.

In the United States, melting non-circulating silver or gold coins is legal. As long as the coin is not in circulation, you can melt it down regardless of its composition. Source

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