Coin Collecting

Coin collectors tend to be split into two camps - The Hobbyist and the investor.

Investors buy and sell coins on both their value in silver or gold and value relating to their rarity as a collectors item.

This page will deal with the Hobbyists.

Collection themes

Most collectors start with a few coins but quickly develop a theme to their collection.

Common themes include Countries, Years, Events and Connections ie the relevant mint.

Storing

There are many ways of storing coins.

A major don't is to store them together in a tin or box. Any movement can scratch or damage them.

Coin envelopes, albums and display cases are all available at coin fairs, hobby shops, coin dealers shops or via the Internet at reasonable prices.

Using these displays will keep your coins safe and give you a nice way of showing them off to other people.

Grading

There are several systems of grading coins although essentially all have mint coins as the most sought after with decreasing grades until the lowest grade will have the coin barely recognisable as a coin.

This system is so important that a mint coin can be quite valuable whilst a poor version will be comparatively cheap.

When checking a coin look at the general condition, the fineness of engraving , the lustre , the rim and for scratches or marks on the surface.

At one stage many coins had small holes drilled in them to wear as jewelry. This will drastically reduce their price.

Cleaning

Be careful how you clean coins as badly cleaned coins actually reduce in value as permanent damage may have ensued.

If you want to clean you coins more than gentle rubbing using a dry cloth ( do not use tap water as the chemicals contained can damage coins) please take expert advice.

Never polish coins.

The old wives tale about using coca cola to clean coins is also a good way of damaging them.

Weight in Ounces

There are two types of ounce.

Avoid Dupois (AV) is the measurement that we use for weighing things at home on kitchen scales.

Gold and precious metals are normally weighed in Troy ounces.

A troy ounce is significantly heavier than and AV ounce.

Often coins are valued by weight so be aware of the difference.

Charging at Troy ounce weight and measuring at AV rates can significantly increase the profit for an unscrupulous dealer.

Counterfeiting

This is a big problem for coin collectors as coins are comparatively easy to copy.

Whist the face value of modern coins would provide little profit copying of older coins can prove very profitable.

The situation is worsened by the complication of legal replica coins and even old genuinely old coins that were  minted as copies by opposition governments trying to undermine another countries economy at the time of war.

Many collectors , especially beginners, do not have the experience to tell if a coin is counterfeit.

Buying from the Internet

Auction sites like E-Bid have some great bargains for coin collectors BUT beware as there are also many counterfeiters using this sale methods as you pay for the goods a few days before they are delivered and you can actually see them.

If you buy from the Internet be very careful and only buy from reputable sellers with high satisfaction figures.

Check back through their feedback pages and look at the comments carefully.

Slabbed coins

Slabbed coins are a new invention coming mainly from USA.

Legitimate dealers submit coins to one a few expert firms who examine the coin verify that it is genuine and grade it.

The coin is then secured in a plastic slab to protect if from decay.

While it is satisfying to have a genuine coin that will not decay or need protection many collection miss the thrill of actually being able to touch a real coin.

The choice is yours although I suspect that slabbed coins are here to stay.

Specific areas to watch

The rise of the price of gold has seen the rise in value of gold sovereigns and also the rise of counterfeit sovereigns that are made from other metals.

Counterfeit laws either do not exist or are not enforced in China and many other Asian countries. Whilst some genuine coins are sold by Asian traders there are also some counterfeit coins. Likewise there are no consumer laws to get a refund should the coins turn out to be counterfeit when they arrive so you could be left with the coins.

The higher the value of the coin the more profit for counterfeiters which probably means that low level coins that attract beginners are less likely to be criminally counterfeit although possibly may have been copies for other reasons.

What you can do to check

Firstly if the deal offered seems to good to be true then it probably is a counterfeit coin.

Be aware that there are many counterfeit coins out there but don't let that spoil your hobby as there are many sellers selling genuine coins.

Check the weight and size of the coin. Most counterfeits will be made from different metals which will mean that they will be lighter or heavier. Weights and sizes are found on several places on the Internet such as the coins of the UK.

Kits that will detect gold or silver are available from specialist coin and metal detecting shops. Old coins will probably be made from gold or silver. Modern alloys were not available until recent times so if they show up on an old coin it's certainly a fake.

Look carefully at the coin under a magnifying glass . Replica coins should have the letter r or s stamped on them but sometimes it is very small and put in a place that is difficult to spot.

Check the details on the coin against pictures of genuine coins. Many counterfeiters make basic mistakes like the wrong dates or the Monarchs head pointing the wrong way.

Look at the engraving , colour and general appearance of the coin. Does it look right! You often get a feeling that something is not right when looking at a counterfeit.

Buy from Marshland

Marshland chooses to use the auction site E Bid as the sales outlet as this provide more protection to both seller and buyer.

For details of the banknotes or coins currently for sale please visit the E Bid Shop by clicking on the E Bid logo below.

Items are available immediately at a buy it now price or if you feel lucky at a lower price to start an auction.