GRADE AWAY!!!

I just wanted to take a moment to post some links that should prove to be helpful in your search to professionally grade a coin. Here they are in order of trustworthiness* (*my opinion... and most peoples for that matter). Below each main page is a link to the fees page:

PCGS

http://www.pcgs.com

PCGS FEES

NGC

http://www.ngccoin.com

NGC FEES

ANACS

http://www.anacs.com

ANACS FEES

ICG

http://www.icgcoin.com

ICG FEES

You want how much?!

After a recent day at the Denver Coin Exposition, I am left wondering something: How much is too much? I set out on my search for a 1916-S Walking Liberty 50 cent piece in VG. After finding about 10 examples of the coin, the only one that was graded accurately was a PCGS VG08. There were many AG/G marked as G+ and mostly G/G+ marked as VG. I'll save the common practice of over-grading by dealers for another post, but when buying a key date, it's more important than usual to make sure your coin is graded accurately, hence the coin in the holder caught my eye.

Greysheet ASK on that particular coin is $115. The coin was marked at $175. I talked him down to $165 and he wouldn't budge even one dollar more. I fully expect to pay a premium when buying key date coins that have been professionally encapsulated by one of the four trusted companies, but a 43% premium seems a bit steep even for a coin dealer. At the end of the day, I walked away without buying the PCGS coin. I settled for a G+ slider (marked as a VG of course) for $100.

When it comes down to it, the people who BUY coins make the market, so if someone is overcharging... just walk away, and take your business to someone who deserves your hard earned money.

Toned coins... Desirable or Dirty?

Coin toning has been a highly debated topic in many coin collecting circles for years. Some view it as a nuisance that has to be cleaned up, while the other school of thought sees toning as enhancing the natural beauty of the coin.

I happen to be a toned coin lover as it makes each coin unique. Because toned coins are so attractive to some collectors and often carry a premium, there are many fakes and artificially toned coins out there.

Beware of fake toning and scams!

A few years back, there was a real scam artist on ebay advertising "MONSTER" toned morgan dollars. I wrote to ask if there was a guarantee of authenticity in case I wanted to send one of these coins to PCGS. My emails were ignored on every attempt.

A few weeks ago, I went to a local coin store and found a Morgan dollar with dark black and orange toning (RED FLAG!)... but... I really thought it was a nice coin, and in spite of knowing it was altered, I could have been easily talked into purchasing it. I asked the dealer his opinion on the authenticity of the coin, and he responded, "I don't know. You're the one that wants to buy it." Now I've already complained about dealers in a previous post, but I'd like to point out that a simple honest reply that it was probably fake but absolutely gorgeous would have made the sale.

The point of these examples is to show you that you need to be careful about buying toned coins. Certified / graded coins with toning are preferable, as you have some sort of guarantee, but I wouldn't buy toned coins outside of PCGS, NGC, ANACS, or ICG.

Color Pattern:

The natural toning pattern for 90% silver coins is as follows:

1. Yellow
   
2. Magenta
   
3. Cyan
   

(to help remember this... just picture me yelling, "YOU MY COIN!"... Yellow, Magenta, Cyan) 

There can be slight variances due to conditions, but with crazy 'circus' or 'crayola' colors you can be comfortably sure they are fakes. The toning should also be bonded to the coin and deep within the grooves and hard to get to spots like the sides of letters. This is especially true when looking at the black type toning that is also fairly common with silver coins.

Now I've been told that collecting toned coins are a "rich man's game". I strongly disagree. While it does add a premium to almost every coin, there are plenty of gorgeous toned specimens that us average folk can afford.

Many dealers will tell you toned coins are bad. (Much like most used car dealers will tell you the car runs great!) I overhead this 'toned coins are bad' speech at a coin store once being given to an older gentleman trying to sell his collection. I politely asked, "Mr. Dealerman... if these coins aren't worth as much, why do you charge more for them than the non-toned coins?" The dealer was left speechless.

Basically what I'm getting at is the old adage, Beauty is in the eye of the beholder. And this beholder thinks toned coins are stunning!

Foreign Coins: Love By The Pound!

Chances are if you are reading this blog, you are a coin collector. (Or desperately trying to understand your husband's / boyfriend's / grandfather's coin addiction) Well... you coin collectors out there have probably thought at one time or another, some or all of the following list:

• There doesn't seem to be any 'deals' out there to buy
• U.S. coinage does not change that much, I need some variety!
• My local dealer always has the same items in his display case
• I am not THAT concerned with making money in coins, just collecting
• I love collecting, but don't feel like I'm learning anything
• I 'think' i know almost all there is to know about coin series XYZ

For those of you that find yourselves in these troubling and frustrating situations, I have a solution! FOREIGN COINS! I know when you started, it was ALL about U.S. coins, but in an effort to keep that love of coins alive, I am offering a solution to the numismatic blues. Think about investing some time / money in Foreign Coins.

It's a fact that the great majority of coin dealers care very little about foreign coins. With a few exceptions, most dealers either throw the foreign into a bucket, pick out just the silver coins, or ship it off to someone who IS interested in it. Here's a few reasons to think about picking up some foreign coinage:

• Foreign coins are OFTEN sold by the pound (rather than by the piece)
• On two separate occasions, I have found very RARE foreign coins ($$$!)
• You will learn about geography and history through researching your coins
• You will make other valuable coin contacts through research or trading
• You will feel like Indiana Jones looking for hidden treasure

I have spent countless hours searching through bags and buckets of foreign coins, and when I feel the need to get involved with my collection, and not just patiently wait for the value to rise, I dig in and sort the foreign. I now have a little box of 'unidentifiable coins', and there is no feeling on earth like FINALLY figuring out where one of these little mysteries is from.

So, to end this infomercial-like blog: Next time you're at the coin store, ask Mr. Dealerman if he's got some foreign coins laying around that he'd like to part with at a reasonable price. Head here to get yourself the most useful book for identifying and checking values on foreign coinage (at the bottom of the page), and most of all HAVE FUN!