The Coin Collector's Survival Manual, Revised Seventh Edition

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  • Edition: 7th
  • Format: Trade Paper
  • Copyright: 2015-09-01
  • Publisher: House of Collectibles
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Revised and Updated for the Gold Rush From one of the worldrs"s most knowledgeable coin dealersa former consultant to the Federal Trade Commission who is often quoted by the Wall Street Journalcomes a thorough update of the most-trusted consumer protection handbook to buying and selling rare and valuable coins. Illustrated with black-and-white photographs and a full-color insert, The Coin Collectorrs"s Survival Manual, Seventh Edition is indispensable for seasoned collectors and novices alike. This substantially revised edition of the Coin Collectorrs"s Survival Manual includes revised chapters that focus on legal and financial advice for buying and selling coins, and a new chapter on the most secure way to detect coins that have been "doctored." You will learn how to: bull; Avoid scams when buying and selling gold bull; Understand the new coin grading system bull; Detect altered, counterfeit, and doctored coins bull; Know how high gold and silver coins will climb in value bull; Buy coins through Internet auctionsand avoid the pitfalls bull; Safeguard and protect your coins from disaster ABOUT THE AUTHOR: Scott Travers, former vice president of the American Numismatic Association, was called the "preeminent consumer advocate in the numismatic field" by The New York Times. He is a contributor to all the leading coin publications and served as a coin valuation consultant to the Federal Trade Commission. He has been featured as a coin expert in Barronrs"s, Business Week, The WSJ, MSNBC and TODAY.

Author Biography

Scott A. Travers is the president of Scott Travers Rare Coin Galleries, LLC and former vice president of the American Numismatic Association. He has served as a coin valuation consultant to the Federal Trade Commission, and has been cited as a coin expert in Barron's, BusinessWeek, the Wall Street Journal, and the New York Times. He and his books have also been featured on national television, including MSNBC, NBC's Today, ABC World News Tonight, and Inside Edition.

Table of Contents

Acknowledgmentsp. xiii
Preface to the Seventh Editionp. xix
Introductionp. xxiii
Collecting Coins Profitably
The Nature of a Collectorp. 1
The Lure of Coinsp. 2
Major American Collectorsp. 4
Collecting Reaches the Massesp. 4
A Dealer's-Eye View of Collectorsp. 6
Collectors Versus Investorsp. 7
Reading a Coin Like a Book
Coin-Viewing Attitudes and Techniquesp. 11
Quick Viewing Actionp. 13
How to Handle Coinsp. 14
Bigger and Brighter
Magnification for Gradingp. 16
Magnification for Authenticationp. 18
Lightingp. 18
The Grading of U.S. Coins
What Grading Is and Why Coins Are Gradedp. 21
Certification Services and Gradingp. 22
What Constitutes Gradep. 24
Coins Made for Circulationp. 25
How the Certification Services View Eye Appealp. 25
Subjectivity and Self-Certified Coinsp. 26
Proof-A Method of Manufacture, Not a Gradep. 26
Grading Guidesp. 27
Numerical Grading Standardsp. 28
How the Marketplace Defines the Grades AU-58 Through MS-70p. 29
The Coin Grading Spectrump. 40
Overgrading and Undergradingp. 43
Small Imperfections, Big Grade Differencep. 47
Mint-Made Imperfectionsp. 49
White-Collar Overpricingp. 49
How to Distinguish Mint State from About Uncirculatedp. 49
The Rubp. 54
Strikep. 55
Toningp. 63
Detecting Doctored Coinsp. 65
The Most Difficult Coins to Gradep. 66
Concluding Grading Tipsp. 68
Grading Services and the Plastic Revolution
A Tale of Two Investorsp. 74
The Impact of Grading Servicesp. 76
Some Important Grading Servicesp. 76
Detecting Counterfeit PCGS Holdersp. 81
PCGS Versus NGC: Analyzing the Certified Coin Market Indicatorp. 92
Changes in Grading Standardsp. 93
Premium-Quality Coinsp. 98
Grading by Consensusp. 100
A Case for No Industry Standardp. 100
How Grading Services Determine Gradep. 101
How to Protect Yourself When You Buy Coins Certified by Leading Servicesp. 104
Bombshell Interview: A Candid Look at Coin Doctorsp. 106
New Services Land a 1-2 Punch to Protect You
Certified Acceptance Corporationp. 116
Reasons for Rejectionp. 119
How to Protect Yourself When Buying CAC-Verified Coinsp. 121
Alternative Servicesp. 122
Numismatic Consumer Alliance, Inc.p. 123
Beauty and the Best-Authenticating Proofs
How to Tell Proof from Prooflikep. 128
The Most Difficult Coins to Confirm Proof Status Ofp. 129
Telling Fact from Fiction
Altered Coinsp. 132
Cast Counterfeitsp. 138
Die-Struck Counterfeitsp. 141
For Further Assistancep. 145
Making Money in Coins Right Now
The Crack-Out Gamep. 147
Multimillion Dollar Crack-Out Secretsp. 150
The Handpicked List for Quick Cashp. 151
When Not to Play the Crack-Out Gamep. 154
The Best Place to Buy Coins to Crackp. 154
Crack-Out Cautionsp. 156
Dipping Coinsp. 157
Cracking Out Commemorative Coinsp. 158
Profiting from Generic Gold Coinsp. 165
Generic Gold's Price Performancep. 166
Rare Gold Coins' Performancep. 168
Tips on Making Coins Profitablep. 169
A Grade Leap Forward
A New Breakthroughp. 174
The Doctoring Dilemmap. 175
Chinks in the Armorp. 176
Small Grading Nuances Can Mean Big Bucksp. 177
Plus-sizing Gradesp. 179
The New Math of Coin Gradingp. 180
A Pocketbook Incentivep. 181
Photograde Onlinep. 182
How to Get the Most Out of Buying or Selling PCGS or NGC Plus Coinsp. 183
Making Sure the Price Is Right
Determining Valuep. 185
Where the Price Is Always Rightp. 194
Monthly Price Guidesp. 195
Secret Dealer Tip Sheetsp. 196
When the Price Is Not Rightp. 199
Common-Sense Tipsp. 200
How to Determine the Value of PCGS Plus Coinsp. 201
Registory Sets Get High Grades
The Meaning of "Registry"p. 202
A "Weighting" Gamep. 203
Registry's Impact on Pricesp. 204
Pitfalls to Avoidp. 205
Secrets of Cherrypicking
"Insider Trading" of Rare Coins
Rare-Coin Insider Tradingp. 212
Insider Information and Rare Coinsp. 213
Completely Legal Insider Negotiatingp. 219
Rare Coins as Securitiesp. 222
Dangers of Buying Coins on the Internet and by Mail
Buying Coins on the Internetp. 226
Online Auctionsp. 226
The eBay Phenomenonp. 228
The Risks of Buying Coins by Mailp. 239
How to Identify a Disreputable Dealerp. 240
Confession of a Rip-Off Coin Salesmanp. 243
Mail-Order Coin Guaranteesp. 245
Your Rights as a Mail-Order Coin Buyerp. 247
How to Complain and Get Resultsp. 247
Hanging Up on Telemarketersp. 251
Cashing In at Shows
Local Club Meetingsp. 254
Local Club Showsp. 255
Seminational Conventions: Regional and Statep. 255
National Conventionsp. 256
International Conventionsp. 257
Bourse-Room Etiquettep. 257
Security Tips for the Convention-Goerp. 259
Educational Forumsp. 260
Youth Programsp. 260
How to Design a Winning Exhibitp. 261
How to Complainp. 262
Dealing with Dealersp. 263
Selling High, Higher, Highest
Changing Strategiesp. 265
The Need for Certificationp. 267
Generic Coinsp. 267
High-Grade Raritiesp. 268
Generic Gold Coinsp. 269
Five Types of Coins to Sellp. 269
The Anatomy of a Coin Transactionp. 273
Coin Sale Methodsp. 276
Cashing Out at the Top of a Bull Marketp. 286
Don't Let Uncle Sam Pick Your Pocket
How the Mint Makes a Mintp. 290
Proof Sets' Price Performancep. 292
Modern Commemorative Coinsp. 295
Traps Set by the Mint and How to Avoid Themp. 297
Tax Obligations, Record-Keeping, and Estate Planningp. 298
Estate-Planning Secretsp. 301
Coins and Retirement Plansp. 302
Contributing Coins to Charityp. 304
Like-Kind Exchanges When Coins Have Increasedp. 304
A Tax-Slashing Strategy When Selling at a Lossp. 305
Myths That Can Cost Millions
Endangered Coins-and How to Rescue Them
Abrasive Cleaningp. 313
Nonabrasive Cleaningp. 316
State-of-the-Art Protection Against Deteriorationp. 319
Artificial Toning and Doctored Coinsp. 321
Toning and Corrosionp. 324
Holders Can Damage Coinsp. 325
Preservation Precautionsp. 326
Coin Conservation Servicesp. 327
The $10,000 Conservation Secretp. 330
Security After September 11 and Hurricane Katrina
Insurance Against Terrorism and Protection from Natural Disastersp. 332
Explosion-Resistant Safesp. 333
Safe-Deposit Box Storagep. 334
Home Securityp. 335
Photographs and Digital Imagesp. 339
Using the Legal System to Protect Your Coins
Forming a Legal Entityp. 341
When a Relationship Soursp. 342
Minimizing Acquisition Costsp. 344
Financial Privacyp. 346
Nothing is Certain but Death and Taxesp. 348
Don't Turn Your Valuables into Fool's Gold
Finding Reputable Buyersp. 352
Selling Your Gold Coinsp. 353
Gold Jewelryp. 355
Silver Coinsp. 357
Super-Grade Bullion Coinsp. 359
Silverwarep. 359
How to Protect Yourself When Selling Gold and Silverp. 360
New Legislationp. 360
New Tax Law Threatp. 361
Value Chart for United States and Canadian Silver Coinsp. 364
Value Chart for Commonly Traded United States Coins and World Gold Coinsp. 368
Specifications for American Eagle Silver and Gold Bullion Coinsp. 372
Internet Resourcesp. 373
Calamity Insurance: Gold Coins as a Safe Havenp. 376
Glossaryp. 381
Indexp. 389
Table of Contents provided by Ingram. All Rights Reserved.

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