Thursday, April 16, 2009

1955-D Penny from My Collection

1955-D Lincoln Cent MS-67 Red
ACCGS Certified
Estimated Survivor Condition: 5000

As you can see I am new to collecting coins and have not come up with a good process for taking photos of coins. If you you have any tips for this It would be gratefully appreciated. I will be posting more photos of coins in my collection every now and then, especially as my collection grows.


5 Tips for Collecting Rare Coins as an Investment.

Collecting coins, especially rare coins, can be a great way to invest your money and have fun doing it. Although a small fortune can be made buying and selling rare coins, an individual needs to know what he or she is doing in order to avoid losing a large fortune instead. To help you accomplish your goals when it comes to investing in rare coins I am providing you with 5 important tips to remember when making your purchases. *These are not my ideas nor is it knowledge gained from my own personal investing, these are ideas and tips gained from quality, professional websites and passed onto you.

1. Works of Art. It should be remembered that rare coins are a work of art as much as they are forms of currency and as so you should expect the same high quality as you would from a rare painting. When purchasing a rare coin the craftsmanship and quality of the coin should be flawless, in addition the coin’s design should have high artistic merit as well as eye appeal. Keep in mind that historic value and rarity do not alone make up the value of the coin, a coin must possess beauty and appeal to the senses as well and these qualities add to the value of the coin.
2. Preservation and Quality. The quality of the coin should be flawless and this is evident in a well preserved coin in which there should be no noticeable wear or scratches. The quality of the coin is measured in grades; typically coins are graded from a MS (mint state) 1 being a very poorly preserved heavily worn coin to a MS 70 being a perfectly preserved coin. “Mint condition” coins are considered to be between MS 60 and MS 66 and anything MS 60 or higher are considered to be uncirculated.
3. Precious Metals. Gold and silver coins are a fabulous choice when it comes to collecting coins whether for personal enjoyment of investment purposes. Coins minted in precious metals continually have a high level of appeal to serious collectors and have a lasting intrinsic value. In addition the coins may gain value from a collector’s standpoint as well as in the value of the gold or silver itself as compared to the precious metals market.
4. Stick with Coins that are “Official Legal Tender”. There are many coins out there that are marketed as collectible but in reality have very little to no value. It is wise to stick to coins minted by the U.S. Mint, these coins will be well known to both serious collectors and investors and be designated “Official Legal Tender”.
5. Coins are like a Good Steak, the Rarer the Better. It of course makes sense that the rarer a coin is the more valuable it is likely to be. This can make it quite expensive to acquire a nice rare coin however it is a good bet that the value of such a coin will continue to increase. This is what most collectors are looking for, especially when the coin is being used for investment purposes.

I hope you enjoy these tips and they work to help make you a better informed collector, and remember, collecting coins can not only be enjoyable but quite rewarding as well!

James Bishop, 2009
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