coin collecting basics

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coin collecting basics

• Presented By
• Ginger Bing

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A little about me

• member of the Pasadena, Bellaire, and Greater
  Houston Coin Clubs, American Numismatic
  Association, Texas Numismatic Association and
  Society of Paper Money Collectors
• vice president of the Pasadena Coin Club.
• I have attended three summer seminars held by the
  American Numismatic Association.
• The seminars are held once a year in Colorado
  Springs, Colorado and are the highlight of the
  numismatic year. The two, one-week sessions are
  held at the beginning of July. The Association
  brings in the top numismatist in each subject
  from across the country to teach the classes.

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Collecting Terms

• Numismatics- the study and collecting of things
  that are used as money, including coins, tokens,
  paper bills and medals
• Currency- any kind of money, coins or paper
  money, that is used as a medium of exchange
• Planchet- the blank piece of metal that the coin
  design is stamped on

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A few more terms

• Denomination- the different values of money.
  Circulating US coins are currently made in
  following denominations cent, nickel, dime,
  quarter, half dollar and dollar
• Die- an engraved stamp used for impressing a
  design upon a planchet to make a coin.
• Mint mark- a small letter on a coin identifying
  which of the US Mints facilities struck the
  coin.

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US mints and mint marks

• Plain- No Mint Mark
• D- Denver, Colorado
• S- San Francisco, California
• P- Philadelphia, Pennsylvania
• W- West Point, New York
• O- New Orleans, Louisiana
• CC- Carson City, Nevada

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Which is it?

• Front Back or Obverse Reverse of a coin?
• The answer is the obverse and reverse.
• Obverse is the front of a coin
• Reverse is the back of a coin.

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Circulating Coins

• The circulating coins were first issued as
  following
• Cent 1793-current
• 5 cent 1866-current
• Dime 1796-current
• Half Dollar 1794-1797, 1801-current
• Dollar 1794-1935, 1971-1981, 1999-current
  (clad), 1849-1889 (gold)

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Other coins that have been minted

• Half cent 1793-1857
• Two cent 1864-1873
• Silver three cent 1851-1873
• Nickel three cent 1865-1889
• Half disme/dime 1794-1873
• Twenty cent 1875-1878

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A few facts

• The US Mint website states the approximate life
  span of a coin is 30 years.
• By law a coin design has to stay in circulation
  for at least 25 years before it can be considered
  for redesign.
• This law has been on the books since 1890,
  because of frequent design changes.

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Why Lincoln?

• The Lincoln cent was first issued in 1909 to
  commemorate the 100th anniversary of his birth.
• This was the first time a historical,
  nonallegorical figure was used on a circulating
  coin of the US.
• His 150th birthday in 1959 resulted in the
  Lincoln Memorial replacing the wheatears found on
  the Lincoln cents of 1909-1958.
• Currently there is talk about a new reverse
  design to commemorate Lincolns 200th birthday in
  2009.

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Franklin Roosevelt and the dime

• The death of Franklin Roosevelt promoted many
  requests to the Treasury Department to honor the
  president by placing his portrait on a coin.
• Less than one year after his death the dime
  bearing Roosevelt was released to the public on
  FDRs birthday, Jan 30,1946.

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Washington on the Quarter

• The portrait of George Washington that appears on
  the quarters minted from 1932 to today was
  selected to commemorate the 200th anniversary of
  our first presidents birth.
• About 100 of Washingtons silver was reportedly
  used to mint the first US coins. The coins were
  half dismes and the portrait may have been
  modeled after Martha Washington.

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JFK

• The assassination of President John F. Kennedy
  generated such an outpouring of public sentiment
  that President Lyndon Johnson sent legislation to
  Congress to authorize the Treasury Department to
  issue new 50 cent pieces.
• The first Kennedy half-dollars were minted on
  Feb. 11, 1964.

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Coin GradingNote these are not all the grades
only a sample

• About good- very heavily worn with portions of
  the lettering, date, and legends being worn
  smooth
• Fine- moderate to considerable even wear. Entire
  design is bold. All lettering visible, but with
  some weaknesses.

• About uncirculated- with traces of wear on nearly
  all of the highest areas. At least half of the
  original mint luster is present
• Very choice about uncirculated- the barest trace
  of may be seen on one or more of the high points
  of the design. No major detracting marks

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To learn more about grading..

• The book to have is
• Official ANA Grading Standards
• for United States Coins

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Holding Coins

• Always hold with care and clean hands
• Always hold on the rims or edges
• Hold over a soft cloth or towel
• Less handling is always best

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To learn more about coin collecting

• American Numismatic Association
• www.money.org
• United States Mint
• www.usmint.gov
• Krause Publications
• www.krause.com
• Federal Reserve Bank of San Francisco
• www.frbsf.org

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Local Coin Clubs

• Pasadena Coin Club
• Meets 2nd and 4th Monday _at_ Golden Corral, 4021
  Spencer, meets starts at 7 pm
• Bellaire Coin Club
• Meets 1st and 3rd Monday _at_ Bellaire Public
  Library, 5111 Jessamine Second Floor 6-8pm
• Greater Houston Coin Club
• Meets 3rd Thursday _at_ Fair Haven Methodist Church,
  1330 Gessner, meets start at 730pm

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National and Regional Clubs

• American Numismatic Association
• www.money.org, 818 North Cascade Ave, Colorado
  Springs, CO 80903, 1-800-367-9723
• Society of Paper Money Collectors
• www.spmc.org
• Texas Numismatic Association
• Hal Cherry, TNA Secretary, P.O. Box 852165,
  Richardson, Texas 75085-2165