Sunday, September 28, 2025
Circulating Coins: Making Money
Thursday, September 25, 2025
History of Nickel
Nickel has been found in metallic artifacts dating back more than 2,000 years. It was first identified and isolated as an element by the Swedish chemist, Axel Cronstedt, in 1751. In the 19th century, it came to prominence in plating and in alloys such as “nickel silver” (German silver) in which it is alloyed with copper and zinc. This alloy was named for its color and does not contain any silver! 15th century miners in Germany found a brown-red ore which they believed to contain copper. They called it Kupfernickel or Devils' Copper because they couldn't recover copper from it.
Coins in the USA first used nickel alloyed with copper in 1857. The “nickel” was not made from pure nickel but in 1881, pure nickel was used for coins in Switzerland. Stainless steels were discovered early in the 20th century and nickel was found to have a very beneficial role in many of the common grades, which continues to this day. Alloys based on nickel were found to have excellent corrosion resistance and could withstand high temperatures, which made them suitable for chemical plants and also allowed the practical realization of the jet engine.
As a result of these developments, nickel has enjoyed a very strong growth of demand over the past century. This continues today because of the essential role nickel plays in many technologies. Source
Monday, September 22, 2025
History of the Penny
The history of the Penny goes back over 1,200 years ago, as the first pennies were made all the way back in 790 A.D. The word “penny” and its variations across Europe, including the German “pfennig” and the Swedish “penning,” originally denoted any sort of coin or money, not just a small denomination. In fact, Great Britain is actually the only country to have a denomination that is officially called the penny. In the United States we have been calling our one-cent coins “pennies” for centuries, largely because our one-cent coin was inspired by the British penny. However, the one-cent coin or “cent” is the official name of the coins we endearingly call pennies today. Over 300 billion one-cent coins, with 11 different designs have been minted since 1787.
The penny was the first currency authorized by the United States from the Mint Act of 1792 signed by George Washington. The design for this first one-cent coin was suggested by Benjamin Franklin, and for over two centuries, the penny’s design has symbolized the spirit of the nation, from Liberty to Lincoln. The following is an historical roadmap of the Penny.
Friday, September 19, 2025
When Were Quarters First Introduced in the United States?
Quarters were first introduced in the United States in 1796 following the Coinage Act of 1792 that authorized their issuance. The initial design that appeared on quarters was known as the Draped Bust design. It featured Liberty on the obverse and a small heraldic eagle on the reverse. While early quarters were made of highly pure silver, the designs and compositions have evolved over the years. Nevertheless, the quarter has remained a staple of American currency.
Tuesday, September 16, 2025
Early Coin Collecting
The long-held view that coin collecting began with the Italian Renaissance has been challenged by evidence that the activity is even more venerable. Suetonius (ad 69–122) relates in his De vita Caesarum (Lives of the Caesars; Augustus 75) that the emperor Augustus was fond of old and foreign coins and gave them as gifts to his friends. In addition to this account and a variety of other literary accounts of collecting from Greek and Roman sources, there is tangible archaeological evidence that coins have been collected at least from the Roman era and probably for as long as they have existed. For example, a hoard of some 70 Roman gold coins found at Vidy, Switzerland, did not contain any two specimens of the same type, which implies that the coins were collected during the period of Roman rule in that town. The broader field of art collecting, for which specific and reliable accounts do exist, began in the 4th or 3rd century bc. Since coins of that period are universally recognized as works of art, and since they were among the most affordable and transportable objects of the art world, it is not surprising that they would have been collected even then. Certainly, they were appreciated for more than their value as currency, because they were often used in jewelry and decorative arts of the period.
During the reign of Trajanus Decius (ad 249–251), the Roman mint issued a series of coins commemorating all of the deified emperors from Augustus through Severus Alexander. The designs on these coins replicated those of coins issued by the honored rulers—some of the original coins being nearly 300 years old by that time. It would have been necessary for the mint to have examples of the coins to use as prototypes, and it is hard to see such an assemblage as anything but a collection. In ad 805 Charlemagne issued a series of coins that very closely resemble the style and subject matter of Roman Imperial issues—another example of collected coins providing inspiration for die engravers of a later era. The Nestorian scholars and artisans who served the princes of the Jazira (Mesopotamia, now Iraq, Syria, and Turkey) in the 12th and 13th centuries designed a magnificent series of coins with motifs based on ancient Greek and Roman issues. Some of these so accurately render the details of the originals that even the inscriptions are faithfully repeated. Others were modified in intriguing ways. The only difference, for example, between the reverse of a Byzantine coin of Romanus III and its Islamic copy is that the cross has been removed from the emperor’s orb in deference to Muslim sensibilities. The great variety and the sophisticated use of these images reveal the existence of well-studied collections. The eminent French numismatist Ernest Babelon, in his 1901 work Traité des monnaies Grecques et Romaines, refers to a manuscript dating to 1274, Thesaurus magnus in medalis auri optimi, which recorded a formal collection of ancient coins at a monastery in Padua, Italy. Petrarch (1304–1374), the famed humanist of the Italian Renaissance, formed a notably scientific and artistic collection of ancient coins.
Fascination with the images on the coins—depictions of famous rulers, mythological beings, and the like—seems to have generated much of the interest in collecting in these early periods. Because the coins of Asia and Africa did not usually feature images, collecting was not common in these areas until relatively modern times.
Saturday, September 13, 2025
Understanding the Gold-Silver Ratio
Gold and silver have long been treasured for their beauty, rarity and intrinsic value, making them popular investment choices throughout history. Part of the rationale behind their investment appeal is that they can offer a hedge against inflation and economic uncertainty, often performing well when other asset classes fall in value. For many looking to invest in precious metals, one of the first questions is the choice between gold or silver and as such, understanding the dynamics is crucial.
One important concept in the precious metals market is the gold-silver ratio. In simple terms, this measures the relative value of gold to silver, indicating how many ounces of silver are needed to purchase one ounce of gold. It is important as it serves as a key indicator of market trends and investor sentiment, offering valuable insight into the potential trajectory of both metals.
What is the Gold-Silver ratio?
The gold-silver ratio is a simple, yet powerful metric used to compare the relative values of gold and silver. It indicates the number of ounces of silver needed to purchase one ounce of gold. For example, if the price of gold was £2,000 per ounce and the price of silver was £20 per ounce, the ratio would be 100:1. This means you can purchase 100 ounces of silver for the same price as one ounce of gold.
History of the Gold-Silver ratio
The ratio is an interesting market indicator, but also intriguing is how it has been calculated and implemented over time. Historically, the ratio was often fixed by official bodies and governments, with some suggesting it was first officially set during the Roman Empire.
In more recent years, the United States Coinage Act of 1792 established a ratio of 15:1 and later 16:1 as part of the 1834 Coinage Act. This set the mint price for silver at a level below its international market price, effectively raising the price of gold and lowering the price of silver. This correction was an effort to restore gold circulation because, by 1834, the US had experienced outflows of gold, largely because the 15:1 ratio had overvalued silver. This made gold more expensive in the U.S., compared to international markets, causing gold coins to be hoarded or exported. Although historically the ratio has been determined and set officially, in modern times the ratio is determined by the free market and can fluctuate widely, based on supply, demand, economic conditions and general investor sentiment.
Why the Gold-Silver ratio matters
The gold-silver ratio is a valuable market indicator that reflects the relative performance of gold and silver. When the ratio is high, it suggests that gold is outperforming silver, broadly indicating that silver might be undervalued compared to gold. Conversely, a low ratio implies that silver is performing better, suggesting that gold may be undervalued. Investors can use this ratio to gauge market conditions and sentiment, helping them to identify potential buying or selling opportunities.
Including the ratio in your investment strategy
Using the ratio as part of your investment strategy can help you to make more informed decisions and identify opportunities to buy or sell. When the ratio is high, investors may consider buying silver as they expect its price to rise relative to gold over time. Similarly, when the ratio is low, buying gold may be seen as advantageous, anticipating its price to increase relative to silver. Implementing a strategic approach could enhance returns and improve the resilience of your portfolio by capitalizing on the fluctuating relationship between these two metals.
As previously stated, the ratio is no longer set or enforced by a particular government or official organization. As such, any changes are influenced by economic cycles, geopolitical events and changes in supply and demand. This is why the ratio could be used to help understand the current overall economic climate, because during times of economic stability, the ratio tends to narrow and in times of economic uncertainty, it often widens.
In addition to the wider market conditions, investors should always consider how diversification can help manage their risk and improve potential returns. The gold-silver ratio can be used to guide how you allocate your investments between gold and silver. When the ratio is high, you may consider increasing your silver allocation, while when it is low, it may be more beneficial to turn towards gold. This balanced approach can help mitigate the risks associated with price volatility in the precious metals market and ensure that your portfolio remains resilient under various market conditions.
By understanding historical trends, investors can better anticipate future potential movements in the price of gold and silver and adjust their strategies accordingly. Incorporating the gold-silver ratio into your investment decisions may allow you to navigate the precious metals market more effectively, capitalising on price movements, and maintaining a well-diversified portfolio. This strategic approach not only helps manage risk but also enhances the potential for optimized returns and should help to form a more balanced portfolio as a result.
Wednesday, September 10, 2025
The Art of Coin Collecting, What Makes Them Rare or Valuable?
Sunday, September 7, 2025
6 Reasons to Start Collecting Coins
Coins were first used in the Iron Age kingdom of Lydia well over two thousand years ago. Although it is not documented, you can rest assured that the world’s first coin collectors started at about the same time. Over the years coin collecting has been called the “Hobby of Kings” because only kings could afford to collect rare coins. It has now morphed into “The King of Hobbies” because everyone can now afford to collect coins. Coin collecting is a hobby that can last a lifetime because there are always new coins to collect. Additionally, there are as many ways to collect coins as there are coin collectors. The possibilities are endless. Coin collecting reached its peak in the United States in the 1950s and '60s. There was a coin shop on almost every corner. The coin collecting market bottomed out in the 1980s and 1990s due to economic downturns and the advent of high-tech devices and video games that could occupy our time.
Today, there are a wide variety of ways to obtain and collect coins. Experts estimate that over 140 million people collected the 50 State Quarters®. It is a little-known fact that even celebrities collect coins. Actors Buddy Ebsen, James Earl Jones, Nicole Kidman, and Penny Marshall are a few Hollywood coin collectors. Even sports stars such as Wayne Gretzky, Dennis Rodman, and Kareem Abdul-Jabbar ventured into coin collecting, too.
Here are six reasons why you should start a coin collection...
1.) To Make Money
Coin collections can also function as an investment instrument to diversify your portfolio. Rare gold and silver coins can be purchased from a reputable coin dealer to add value to your range of investments. Many experts will tell you that precious metal bullion coins can reduce the amount of risk in your investment strategy. Additionally, you can easily liquidate your coin collection if you need cash.
If you are strictly purchasing coins to make a profit, you need to become extremely familiar with the rare coin market. Fluctuations in demand and coins available-for-sale can dramatically affect prices. Additionally, become familiar with the coins that you are purchasing. Buy a book or do some research online before investing in any coin.
2.) The Challenge
It is human nature that we like to see things through to completion. It gives us a sense of satisfaction when we can see a task completed or goal accomplished. Successful coin collectors begin by establishing a goal of what they want to collect. Sometimes it is the “thrill of the hunt” that gives us satisfaction when we find the perfect coin for our collections. Satisfaction also can be obtained by finding a valuable coin in your pocket change. Finally, the pride of ownership of the valuable coin collection is one of the most satisfying benefits of collecting coins.
3.) Beauty and Art
The design of each coin begins in the skillful hands of an artist. Although many different types of artists can design coins, the best artists are the ones that understand bas relief sculptures. Most numismatists agree that the most beautiful United States coin ever made was the Saint-Gaudens double eagle, minted between 1907 and 1933. Other masterpieces include Victor David Brenner’s Lincoln cent, Bella Lyon Pratt’s Indian Head quarter eagle and half eagle sculpted in sunken relief, and William Wyon’s The Una and the Lion on a British £5 gold coin.
In effect, coin collections are actually collections of art. The owner of a carefully assembled coin collection will want to display their cherished works of art proudly.
4.) History and Education
Almost all coins feature some historical element. It can feature the victory of an ancient war immortalized on an ancient Roman coin, the inauguration of a king or queen on a medieval coin, or a circulating commemorative coin showcasing each of the fifty United States and six territories and protectorates.
Colonial coins minted in the United States before the formal founding of the United States Mint in 1792 are actual pieces of history you can hold in your hands. The same can be said for pirate treasure coins and coins recovered from shipwrecks from the century gone by. World coins can introduce you to other countries and cultures from around the world.
5.) Leave a Legacy
A carefully planned and investment-driven coin collection can turn out to be a valuable inheritance for your heirs. Although very few people get rich overnight from collecting coins, carefully planned and thought out investment strategies in rare and valuable coins can appreciate over time.
Take the time to get your children or grandchildren interested in coin collecting. Most children will lose interest in coin collecting during their teenage years but may return to it years later. Years from now, they can look back on your legacy captured in your coin collection. They may even remember acquiring a special coin from you.
6.) Relaxation
Assembling a coin collection and studying the origins of a particular coin can take your mind off the stress and pressures that you experience throughout the day. Coins are easy to collect and can be collected right from your pocket change, at a favorite coin store, coin show, or through the Internet. There are also coin clubs around the country that can add social interaction to your coin collecting hobby. Getting started is easy for a collector on any budget.
Thursday, September 4, 2025
Some Trends Affecting Coin Collecting in 2025
A lively presentation about some of the biggest trends in coin collecting and the rare coin market right now and how the stories making news today might impact the way we collect coins tomorrow. From record-setting gold, new U.S. Mint issues, changes and consolidations within the coin industry and how collectors gather and share, there’s a lot to chat about!
Steve Roach joined the ANA in 1991 and was editor-in-chief of Coin World. He’s a numismatist and appraiser with a focus on fine art, rare coins and medals. Steve is a certified member of the International Society of Appraisers where he teaches appraisal ethics and methodology.
Monday, September 1, 2025
Happy Labor Day!