Coin Collecting For Dummies

by Berman, Neil S.; Guth, Ron

• ISBN13: 9780470222751
• ISBN10: 0470222751
• Edition: 2nd
• Format: Paperback
• Copyright: 2008-01-03
• Publisher: For Dummies

Summary

Covers the essentials of coin collecting at an affordable price Spend wisely and then keep your collection in mint condition Can't make heads or tails of numismatics? Welcome to a treasure-trove of information on numismatics or rather, coin collecting. This hands-on guide escorts you through the world's oldest hobby, covering topics such as how to decide which coins to collect, ways to protect them, buying andselling on the Internet, attending coin shows, to assembling and diversifying your collection. Discover how to: Store your collection correctly Understand how age affects value Locate rare and expensive coins Get savvy with avoiding fakes Get kids or loved ones involved

Author Biography

Neil S. Berman: Neil S. Berman has been an expert numismatist and professional rare coin dealer since 1968. Coming back to the United States from Israel at the end of 1967, he apprenticed to the world-renowned Dutch numismatist and coin auctioneer Hans M. F. Schulman. He incorporated as Neil S. Berman, Inc., in 1968. In 1974, Neil became an associate of Metropolitan Rare Coin Company of New York. For the next several years, he represented Arthur and Donald Kagin of Des Moines, Iowa, then the largest coin dealer in the Midwest, as a purchasing agent. Later he represented Superior Galleries under the Goldbergs, also as a purchasing agent. In 1979, Neil, with his brother Jed, founded First Federal Coin Company, the first East Coast coin company to sell rare coins into IRA, Keogh, and pension plans. From 1983 until 1990, he was the purchasing agent for Asset Services, Inc., the largest coin company serving the financial community. Neil donated his large collection of German and Swiss silver minor coins to the American Numismatic Society (ANS) in 1989. In 1997, he received the American Numismatic Association (ANA) Service Award from ANA President David Ganz. In 2005 and 2006, he was associated again with Superior Galleries of Beverly Hills, this time under the ownership of numismatist Silvano DiGenova.
Neil catalogued the U.S. gold in the 1977 Kagin’s ANA Coin Auction Sale, the first New York coin auction sale in 1981 of Spink and Sons, England’s oldest and largest coin dealer, and a coin auction sale by Superior Rare Coin Galleries of Beverly Hills in 2006.
Neil has been published in Barron’s, Trusts & Estates, The National Law Journal, The Financial Planner, Pensions World, and Executive Jeweler. In 1987, he wrote, with Hans Schulman, The Investor’s Guide to United States Coins, which sold 40,000 copies and received a Numismatic Literary Guild award for Best Investment Book. In 2007, he wrote the second edition of the book with Silvano DiGenova. Neil has just completed a book on rare coin auctions.

Ron Guth: Ron Guth is a jack-of-all-trades and master of one — numismatics. Ron is a certified public accountant (CPA), a licensed auctioneer, and a writer, but the bulk of his time is spent on his true love — coin collecting and dealing. Ron’s battle with coin fever began when he was 12 years old, and he’s never gotten over it. After a decade of collecting, Ron went professional in 1976, when he began working for a local coin shop in Tampa, Florida. In 1978, he partnered with David Goldsmith and purchased the Bay Area Coin Exchange in Tampa. Ron and Dave blasted through the silver boom, and then split up in 1981, when Ron moved to Evansville, Indiana (his wife’s hometown), where he set up shop on First Avenue. In 1984, Ron formed Mid-American Rare Coin Auctions with Jeff Garrett of Lexington, Kentucky. The company quickly established itself as an innovative leader in the industry and, within the first year, became the fifth largest rare coin auction company in America. In 1988, Ron sold his interest in the company, went back to school to finish his bachelor’s degree in accounting and finance, and has since become a numismatic consultant and a major dealer in German coins.
In 1984, Ron won the American Numismatic Association’s Wayte and Olga Raymond and Heath Literary awards. He has written many coin-related articles and is listed as a contributor to several books, including Walter Breen’s Encyclopedia of United States Coins, Krause Publications’s Standard Catalog of German Coins, Roger S. Cohen’s American Half Cents, Walter Breen’s Encyclopedia of United States Half Cents, and others. Ron has served as a numismatic consultant for many rare-coin companies, including major firms such as the Professional Coin Grading Services, Heritage Numismatic Auctions, and Early American History Auctions.

Table of Contents

Introduction

Making Heads and Tails out of Coin Collecting

Welcome to the World of Coin Collecting

Understanding Numismatics

Arming Yourself with Knowledge

Storing Your Collection Correctly

Ancient to Present Day: Choosing Coins for Your Collection

Showing Their True Age: Ancient Coins

Making a Safe Bet with U.S. Coins

Globetrotting with World Coins

Exploring the Wild Side with Rare, Expensive, and Esoteric Coins

Focusing on U.S. Coins

Colonial Coins: America's Ancients

Copper and Nickel Coins: Made for the Masses

Silver Coins: Keeping Commerce Alive

Gold Coins: Concentrated Wealth

Commemoratives: Raising Money with Money

Advancing to Oddball Coins

Buying Coins the Safe Way

Foiling the Fakes

Weaving Your Way through Price Guides

Wheeling and Dealers

Going Once, Going Twice: Buying at Auction

Affecting Value through the Condition of Your Coins

Grading Coins: Your Best Defense

Selling Coins and Minding the Law

The Art of the Sale: Selling Your Coins Yourself

Selling Your Coins on Consignment or at Auction

Coin Investments, Taxes, and the Law

The Part of Tens

The Ten Most Valuable U.S. Coins

Ten Favorite U.S. Coin Designs

Ten Ways to Get Your Kids Involved in Coin Collecting

Glossary

Index

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