I have been a Novice Coin Collector (Numismatist) for many years. Mainly, started with the blue booklets and going through change to fill them. As I got older, I liked finding coins with a metal detector plus do some trading/buying,...and did pretty well. There are numerous things to sell in the coin world and paper currencies too. You can find these items at estate sales, garage sales and flea markets. Always get a coin value book, read through it and learn the various histories, mintage, metal contents and demand graphs. THE RED Book of Coin Values is one of the best you can get. There are many magazines and coin publications available at any bookstore..or on eBay!!!! There are coin publications about error coins, Commemoratives, just plain pricing and other coin topics. It is best to learn about KEY Dates and coin histories so you can carry on conversations with more knowledgable dealers/numismatists Also, old TRADE Tokens for busses, trains, state tax tokens, cafe tokens etc...are other "coins"/ valuable items to collect but not officially issued as legal tender. Basically, learn a little about all TYPE/STYLES of coins, mint marks, overstrikes, heavy and weak strikes, small dates, large dates, Key Dates, smooth edges, die cracks, missing parts of the engraving...etc...many unknowns still out there.
Always handle coins on the edge with clean hands or best with a soft linen glove. NEVER scrub a coin with anything...get it professionally cleaned at a coin dealer, they clean coins without scrub brushes. A coin is worth more faded, dirty or tarnished than scratched /discolored by chemicals/scrubbers. Get non-acidic coin folders at a dealer to store/preserve the coin. Many sizes available...always make sure they are non-reactive/non-acidic plastic. NO Zip Locks or other commercial/food etc plastics, they can make an acidic stain that will ruin any nice coin. I have used plain wax paper bags to put them in till I can get a standard coin holder. You may also use a non abrasive cloth to lay them on until secured in holder. Watch temperature extremes...can cause oxidation, especially on pennies and causes silver to tarnish and get dark.
If you just look in your change and notice oddities on coins..you can find CUDS/Lamination Peels, Off Center Strikes as the penny in the above photo. Lamination peels are where the lamination looks like it was torn off the face of the coin. Cuds are where a piece of the breaks and metal fills in during the strike causing a folding effect over part of the coin as a flap of metal.
Find one of these and it will sell on eBay...many freebies just in your change!!!! Also, Flea markets that are outdoors (or indoors) w/ a hodge podge of vendors is a source of valuable surprises. You can find a lot of old coins just in boxes and piles they have laying around. Most dealers know what they have and sell for fair prices. Always have a coin book handy and know the book values. The dealers normally (honest ones) have coins graded fairly usually selling them for 80-85% of Book Value, unless market pricing of Silver/Gold are factors. Many US Silver and Gold coins sell at Premiums (Proofs or **PCGS Graded) a bit above market metal prices due to their rarity value. Just "wheel and deal" a little then buy several coins to receive the best bargain. Note: Some Key dates go up to the 95%-100% (or more) depending on what the dealer has invested in the coin, and its demand on the market. Some Double Dies (look this one up in your coin book) as the 1955 Lincoln Penny is a prime example. Oftentimes, a silver coin will pop out of a junk box...and there you go...another eBay item.
Dropping coins (LOOKING FOR SILVER in your change) on a wooden or hard surface table, listening to the "ting" they make versus a "dead" sound regular coins make. You will learn about what to look for/listen for and see it as silver very easily, with just a little practice. Look at the edge...it has no copper and nickel clad sandwich appearance.... if it is all grey then it is silver, unless it is a foreign coin where the copper in the edge may not be visible. Canadian coins look this way. Before 1964, any dimes, quarters or halves were 90% silver...making them highly valued. Look up "Roll of Silver Dimes" on eBay and see how much 50 silver dimes go for!!..... Will amaze you...I have actually found entire rolls of silver dimes in change, but has been a while. They DO slip out from time to time. right back into circulation!
Many people selling coins on eBay are in the EBAY Community Chat Rooms. They are helpful in answering questions about grading. Just ask them before you sell one or email them a photo and they may be able to help you sell it for more money!! Just don't ask them to buy it in chat room, eBay doesn't like that. Look at people's feedbacks and "view item" it will show you the final value price sold. This will give you parameters on how to start out the pricing for bidders. Basically, study what others do who are successful on eBay and you can become that way over time, with good selling practices and honesty!!! Describe your item to a tee and take closeup photos on front and back so potential buyers can easily see what you have. Describe any damages best you can...also, encourage people to ask questions about your item...get a dialogue going, then you should always carry 100% feedback!!!!
**PCGS= Professional Coin Grading Service. You can visit their dot com to check it out. They are the foremost coin grading/certifying service. It requires a membership. Then it will cost you some money for the individual grading. However, they will seal/certify your coin in a hard plastic display and it will have a 100% accurate grading, retaining it forever, as long as it is never opened or damaged. Many eBayers will have these graded coins (certified) and you will notice a bar code on the plastic cove, w/PCGS stamp on it. Plus in eBay listings it will say "Certified"...This could add a lot of value to your coin up into the thousands depending on the coin. If the coin is only worth 30.00 then grading would not be cost effective since grading it would cost more than the coin's actual value. In the case of a key date, it could mean 100-1000 difference. So, best to grade only worthwhile coins.
A BIT OF QUICK INFO:
4 quarters pre 1964 = about 1 oz
10 dimes pre 1964 = 1 oz
2 halves pre 1964 = 1 oz Don't forget clads 1965 to 1970 halves are 40% or higher in silver..and carry a nice value...different years in the past the silver contents varied.
1935 was last year of pure silver dollars (Peace Dollars) minted for general circulation. However, there were/are Commemoratives or Mint Set/Special Edition Coins sealed by the mint for collectors. These are a special type of coin to collect, since they are uncirculated and normally in Proof condition (stamped twice and carry a mirror/Cameo Finish). After 1935, Silver Dollars were clad nickel and copper. Eisenhower non-silver, silver dollars were the last of the large size. Later in 1979, The Susan B. Anthony (small) Dollar Coins (the approx. size of a quarter) were issued. Now we have more of these smaller variety "Dollar" coins being minted w/different motifs and personalities on the obverse (face).
Silver is 14.50 (going up) per ounce now..so each of these scenarios above carries this value...yet some coins may out value their silver weight in RARITY VALUE. US Gold coins do this, especially pre 1920's gold coins...if gold is 500 per ounce and you have a nice 1888 or so ( almost 1 oz) 20 dollar gold piece...it could easily be worth 600 to 1000 or more dollars depending on mint mark, variety of coin, low mintage year...etc....The American Gold was outlawed at one time and people could not use it. We can now...so, if you find one of these gems...keep it...or sell it..BUT look at coin books and see a dealer to help you determine value.
There are Commemoratives, PROOFS and bullion that are not circulated as change...but are collectors' items...LOOK UP these terms and you may want to collect these as well.
Hope this helps...best wishes to all on eBay!!
girr987!!!!
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