coin collecting basics

Presented By

Ginger Bing

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.

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

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 Mint’s facilities struck the coin.

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

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.

Circulating Coins

The circulating coins were first issued as following:Cent 1793-current5 cent 1866-currentDime 1796-currentHalf Dollar 1794-1797, 1801-currentDollar 1794-1935, 1971-1981, 1999-current (clad), 1849-1889 (gold)

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/dime1794-1873

Twenty cent 1875-1878

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.

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 Lincoln’s 200th birthday in 2009.

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 FDR’s birthday, Jan 30,1946.

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 president’s birth.

About $100 of Washington’s 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.

JFKThe 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.

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 smoothFine- 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 presentVery 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

To learn more about grading..

The book to have is:

Official ANA Grading Standards

for United States Coins

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

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

Local Coin Clubs

Pasadena Coin Club Meets 2nd and 4th Monday @ Golden Corral,

4021 Spencer, meets starts at 7 pm

Bellaire Coin Club Meets 1st and 3rd Monday @ Bellaire Public

Library, 5111 Jessamine Second Floor 6-8pm

Greater Houston Coin Club Meets 3rd Thursday @ Fair Haven Methodist

Church, 1330 Gessner, meets start at 7:30pm

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