Hints for completing the requirements for the Boy Scout
Coin Collecting Merit Badge
This page gives simple explanations and hints on how a scout, usually
ages 11-17 could complete the requirements to earn his Coin
Collecting Merit Badge. Further information is available in the
Coin Collecting Merit Badge Booklet. The
booklet is available at scout service centers (council offices) and in
troop libraries.
Requirements:
1- Understand how coins are made, and where the active U.S. mint
facilities are located.
To start off we have some basics on how the things we collect are
made. This includes the designing process and die production as well as
the actual mechanics of the milling of strips, making of blanks, and
striking finished coins. Knowledge of the mint locations is a natural
building block for the concepts of mintmarks.
How are coins made?
The metal used to make coins starts in a solid
form called an ingot. This ingot is then fed into a rolling mill that
exerts pressure and the ingot bar is reduced in thickness from over six
inches to a long strip of metal the thickness of the final coin.
Since 1965, U.S. dimes, quarters, half
dollars, and dollars have been made from a core of copper, layered
between and bonded to two thinner outer layers of copper-nickel (except
the current Sacagawea dollar). Cents since 1982 have been made of a zinc
core plated with copper.
Once the strips, called coils, are
rolled to the proper thickness, they are about 13 inches wide and over
1,500 feet in length. They are then fed through a blanking press, which
punches out circular discs, called blanks. The leftover strip, now
punched full of holes, is called webbing and is shredded and recycled
for use in future coinage.
 Blanks
are the approximate size of a finished coin. They are heated in an
annealing furnace to soften them, and then they are run through a washer
and dryer to remove any stray grease. The shiny blanks are sorted on a
riddler to screen out any that are the wrong size or incomplete shape.
The clean blanks are sent through an upsetting mill, which squeezes the
edges, giving them a slightly raised surface.
The blanks are now ready to be
placed into a coining press, where dies strike the image and legends on
them. The raised edges in the upsetting process assist in the striking
of uniform flat edges at the rim, so that coins can be
“stacked.”
In the United States, the stamping of
the official image at one of the U.S. Mints makes them coins, and the
new coins are inspected, counted by weight, and bagged for shipment to
the 12 Federal Reserve banks, and then to your local bank for
distribution.
U.S Mints
Today's U.S. coins are made at the
mints in Denver, Colorado ("D" mint mark, 1906 to date) and
Philadelphia, Pennsylvania ("P" mint mark, 1793 to date).
The
Old San Francisco Mint
Proof coins and special collector coins are manufactured at mints in
San Francisco, California ("S" mint mark, 1854 to date) and West
Point ("W" mint mark, 1984 to date). Pictured is the Old San Francisco
Mint (The Granite Lady) which operated from 1874-1937.
Other mints that have operated in the United States are: Charlotte,
North Carolina ("C" mint mark, 1838-1861, gold coins only), Carson City,
Nevada ("CC" mint mark, 1870-1893), Dahlonega, Georgia ("D" mint mark,
1838-1861, gold coins only), and New Orleans, Louisiana ("O" mint mark,
1838-1909).
2- Explain these terms: obverse, reverse, reeding, clad, type set,
date set.
The Boy Scout Coin
Collecting Merit Badge booklet explains many more terms specific to the
hobby, but these six were selected, as they are cornerstones to  further requirements and a basis for the talk of
the hobby. For a complete glossary of terms, consult the merit badge
booklet.
Obverse: the front of a coin, usually the side with
the date or head. When you flip a coin and call
“Heads,” this is the side you want.
Reverse: the back of a coin, usually the side
without a date or a head. When you flip a coin and call
“Tails,” this is the side you want.
Reeded Edge: an edge with raised vertical or
diagonal marks designed to make it obvious if anyone has removed any
metal from the edges. This was important when coins were valued
for their full weight in precious or semi-precious metal. Modern U.S.
coins with a reeded edge include the Roosevelt dime, Washington quarter
and Kennedy half-dollar.
Clad: coins made of layers of metal. Examples
include our modern Dimes, Quarters, Half Dollars, and One Dollars that
have centers of copper and outer layers of a copper-nickel alloy.
Type Set: each kind of coin from any given time and
place. For example, a 20th century U.S. Type Set would include each
design of cent, nickel, dime, quarter, half dollar and dollar coin
minted in the United States from 1900 to 1999.
Date Set: a set of the same type of coins with an
example from each date that particular type of coin was minted; for
example a date set of Lincoln "Wheat-back reverse" Cents would include
an example from each year 1909 to 1958.
3- Explain the grading terms: Poor, Good, Very Good, Fine, Very
Fine, Extremely Fine and Uncirculated. Show five different grade
examples of the same type coin. Explain the term ‘Proof’ and
explain why it is not a grade. Tell what ‘encapsulated’
coins are.
 A collector’s coin or piece of
paper money is valued based on its grade or state of preservation. What
follows is a brief summation of the recognized terms used to describe
the various levels of condition of coins. The Official
ANA Grading Standards for United States Coins, from the
American Numismatic Association, is the accepted reference on the
subject and offers more complete details and illustrations of coins in
each grade.
The grading system is based on a
1 to 70-point scale, with 70 being the perfect coin. The basic grading
categories are:
Basil State: B-1,
B-2
About Good:
AG-3
Good: G-4,
G-6
Very Good: VG-8,
VG-10
Fine: F-12,
F-15
Very Fine: VF-20,
VF-25, VF-30, VF-35
Extremely Fine:
EF-40 (XF-40), EF-45 (XF-45)
About
Uncirculated: AU-50, AU-53, AU-55, AU-58
Uncirculated or
Mint State: MS-60 to MS-70
Grade: the determination of the degree of wear (or
lack thereof) on a coin.
Poor: term for a basil state coin that is so badly
worn that you can barely recognize the type and date.
Good: term for a coin that is heavily worn but which
has most of the devices outlined.
Very Good: a grading term for a coin that is well
worn with the major designs visible but faint in areas; easily
recognizable.
Fine: term for a coin with moderate to considerable
even wear, but clear and easy to read. A coin graded "Fine" is in better
condition than a coin in "Very Good."
Very Fine: term for a coin with moderate wear on the
highest points of the design; light even wear on the on the surface.
Extremely Fine: term for a coin with light overall
wear. All designs are very sharp. The coin may have some original mint
luster.
Uncirculated: term for a coin that has no signs of
wear or circulation.
Proof: a term for a type of manufacturing process
which results in a special surface or finish on coins made for
collectors. It is not a grade.
Encapsulated Coins are coins that have been graded
by a grading service and placed in a tamper-proof plastic holder or
"slab" with an identification sticker. Most grading services use the
official ANA Grading Standards.
4- Know three different ways to store a collection, and describe the
benefits, drawbacks and expense of each of these methods. Pick one to
use when completing requirements.
Storage of a collection
– When one is about to embark on collecting something, one should
know of the types of storage items available (and the associated costs
and drawbacks associated with those options).
How do you store your collection of favorite
coins? In a jar? box under your bed? or maybe in a bureau drawer?
Coins that are hoarded in a box or jar can get scratched, rubbed and
dented, lowering the grade and condition. NEVER glue or
tape coins to anything! This will damage the coin and ruin any collector
value. Collector coins should be organized and properly stored to
provide protection for the coins and information about the collection.
This will keep your investment safe and you will enjoy your collection
more as you work to organize it.
 Many people are familiar with
cardboard folders that hold a specific type of coins like the
50-State Quarters. This is a good, inexpensive way to organize and
display a date set of coins collected from circulation or pocket change.
It is not a good way to store valuable collector coins as the cardboard
holders can tarnish the coins and do not offer protection to the
surfaces of the coins. Pushing the coins into the round holes also
leaves oil from your fingers on the surface of the coins and permanent
marks may develop. It is best to wear special cotton gloves when
handling the coins and placing then into the holders.
 A "2 x 2" is an
inexpensive cardboard holder. One coin is placed in the center of one
side of a square of cardboard with a see-through piece of mylar in the
center. The other identical side is folded over and stapled shut
resulting in a 2-inch by 2-inch holder (thus the common name "2 by 2")
containing one coin. Both sides of the coin can be viewed through the
plastic center (which varies in size according to the coin type) and
information about the coin can be written on the cardboard portion. The
holders fit perfectly into specially made boxes and albums. This is a
very popular way for collectors and dealers to organize large
collections of moderately priced coins. The drawback to this storage
method is that the plastic centers can tear and the staples can damage
the coins if not handled with care. With a lot of handling, the holders
can become worn and unattractive.
Another popular and reasonably
priced storage method is the 2 by 2-inch paper envelope, great
for long-term storage. Information can easily be written on the outside
of the envelope and groups of envelopes can be stored in special boxes.
The drawback is that the coin has to be removed from the envelope to
view.
There are several different types
of plastic holders, slightly more expensive than cardboard or
paper. The most common is a 2 x 2 holder or "flip" that has two pockets,
one for a coin, and the other for a paper insert with information about
the coin. When folded together, the size is 2-inches by 2-inches and
they fit into the same special boxes and albums that hold cardboard 2 x
2 holders.
A danger from certain plastic holders
is PVC, an ingredient in the plastic that is used to soften the
material. PVC will turn coins slimy green over a period of time. Either
use PVC-free holders or put the coin into a small PVC free "poly bag" or
2-piece "coin-tain" before placing it into the plastic holder. Soft
plastic holders (with PVC) can be used for short-term storage. They are
easier to handle than the stiffer PVC-free holders. Saflips are PVC-free
inert flips that optically clear and will not crack or discolor.
 Cointains are PVC-free
holders. These two-piece clear plastic discs are made in many different
coin sizes and fit together to completely encase your coin. There is no
room for coin information, but you can view all three sides of the coin
(obverse or heads side, reverse or tails side and the edge of the coin).
Many Museums, including the ANA Money Museum use "tains" to protect
their finest specimens while on exhibit to the public. Tains can be hard
to handle, many different sizes are needed.
There are many types and sizes of square
hard plastic snap-together holders for coins. They offer maximum
protection for storage, but can be expensive.
Expensive collector coins that have been graded by a third-party
grading service are encased in a hard plastic holder or "slab." These
vary in size, but most fit into special "slab" boxes and "slab"
albums.
Expensive collections are usually
stored in a bank or vault. It's important to monitor the temperature and
humidity and check the condition of the coin's surfaces on a regular
basis.
5-Do the following:
a) Identify the persons depicted on
the following denominations of current U.S. paper money: $1, $2, $5,
$10, $20, $50, and $100.
b) Explain ‘Legal Tender.’
c) Describe the role the Federal Reserve
System plays in the distribution of currency.
Paper Currency is readily available; it is good to know who is on the
notes. Knowing how the currency is distributed in the banking system is
a good way to re-enforce the use of the branch codes on the currency.
With the redesign of the currency, perhaps this area of collecting will
see an increase in popularity.
You all know that George Washington is depicted on the
U.S. one-dollar notes and that Abraham Lincoln is on the
five-dollar notes, but who is on the $2, $10, $20, $50 and $100 notes?
Are they all United States Presidents? Why do you think they were
honored in this way?
George Washington, the
father of our country, was the first President of the United States. He
served from 1789-97.
KNOW MORE! http://www.whitehouse.gov/history/presidents/gw1.html.
Abraham Lincoln was our
sixteenth President (1861-1865) He was born February 12, 1809, in
Hodgenville, Hardin County, Kentucky and died April 15, 1865, the
morning after being shot at Ford's Theatre in Washington, D.C. by John
Wilkes Booth, an actor. He was married to Mary Todd Lincoln.
KNOW MORE! http://www.whitehouse.gov/history/presidents/al16.html
Thomas Jefferson
appears on the U.S. two-dollar bill. He was the third President of the
U.S. serving from 1801-1809. He was born April 13, 1743 in Albermarle
County, Virginia and died July 4, 1826 in Monticello (his home) in
Virginia.
KNOW MORE! http://www.monticello.org/jefferson/index.html
Alexander Hamilton
was born in 1757 on the island of Nevis, in the Leeward group, British
West Indies. He was the Secretary of the Treasury from 1789-95. He is
pictured on the face of the 10-dollar note and the U.S. Treasury
building is pictured on the back.
Andrew
Jackson, the 7th U.S. President graces the face of the U.S.
20-dollar note. Andrew Jackson was elected by popular vote, and as
President he sought to act as the direct representative of the common
man.
KNOW MORE! http://www.whitehouse.gov/history/presidents/aj7.html
Ulysses S.
Grant was the eighteenth U.S. President serving from 1869-1877. His
portrait is on the 50-dollar bill. The U.S. Capital Building is on the
back.
KNOW MORE! http://www.whitehouse.gov/history/presidents/ug18.html
 Benjamin
Franklin was famous as a scientist, an inventor, a statesman, a
printer, a philosopher, a musician, and an economist. Today, we honor
Ben Franklin on the 100-dollar note as one of our Founding Fathers and
as one of America's greatest citizens. Although he was born in Boston,
the city of Philadelphia is remembered as the home of Ben Franklin. In
Philadelphia, you can find both Ben's gravesite and the Benjamin
Franklin National Memorial. You'll also find The Franklin Institute
Science Museum.
KNOW MORE! http://bensguide.gpo.gov/benfranklin/, http://sln.fi.edu/franklin/rotten.html, http://www.pbs.org/benfranklin/, and http://www.english.udel.edu/lemay/franklin/.
Legal Tender Notes are intended for "all debts public and
private." Also known as "United States notes," they were introduced in
1862 and still circulate today. Unlike earlier demand notes, they are
not redeemable in gold or silver of equivalent face value.
KNOW MORE! http://www.moneyfactory.com/section.cfm/4
On December 23, 1913, an Act of Congress created the Federal
Reserve System, which serves as the nation's central bank. The
System consists twelve Reserve Banks located in major cities throughout
the United States: New York, Boston, San Francisco, Atlanta, Chicago,
Cleveland, Dallas, Kansas City, Minneapolis, Richmond, St Louis, and
Philadelphia.
An important job of the
Federal Reserve is to function as the "banks' bank," ensuring that
institutions have enough currency and coin on hand to meet current
demand, which varies with the seasons of the year. Currency and coin put
into circulation to meet seasonal demand is eventually returned to the
institutions by merchants and other business owners. So to reduce the
excess currency and coin held in their vaults, banks typically return
cash to the Reserve Bank, where it is credited to their accounts. The
process is reversed when the institutions need to replenish or increase
their supply of currency and coin.
KNOW MORE! http://www.federalreserve.gov/otherfrb.htm
6- Do the following:
a) Demonstrate to your counselor that
you know how to use two U.S. or world coin reference catalogs.
b) Read a numismatic magazine or newspaper
and tell your counselor about what you learned.
 Books are resources in the areas of
interest. For U.S. Coins – The Guidebook of US
Coins (Red Book), U.S. Coin Digest or the
North American Coin and Price Guide. For World coins, the
Standard Catalog of World Coins series, or country specific
publications. All have pricing information and illustrations to assist
in proper identification.
Newspapers or magazines – Weekly
Newspapers – Coin World or Numismatic News,
monthlys Bank Note Reporter, World Coin News,
Canadian Coin News or magazines, Numismatist,
CoinAge, Coins, Coin Prices. They are
different, they are available at libraries or news stands. Reading is
fundamental.
7-Describe the 1999-2008 50 state quarter program. Collect and
show your counselor five different state quarters you have acquired from
circulation.
A scout who has a foundation in mints,
how they are made, grading, preservation and information, gets to show
the coins he has collected!
The 50 state quarter program seems to have
been popular with the general non-collecting public, and it has made
folks look at their coins again. Collecting five different and knowing
about the program is easy.
8-Collect from circulation a set of currently circulating U.S. coins
(cent, nickel, dime, quarter, half dollar, and dollar). For each coin,
locate the mint marks and designers’ initials, if any.
Collect a circulating type set; simple
for the Cent thru Quarter, a bit more difficult for the Half and Dollar
(it may require a visit to the bank). This requirement makes the scout
look at the design elements, and use information learned in Requirement
1 about the Mints and mintmarks. Finding the designer's initials may be
a little more difficult as they are sometimes hidden in the design
elements. You may need some magnification to clearly see them.
The Lincoln Memorial Cent was
designed by Victor David Brenner (head of Lincoln) and
Frank Gasparro (Lincoln Memorial reverse). The initials
"VDB" are just under Lincoln's shoulder; "FG" is to the right of the
base of the monument.
The Jefferson Nickel was
designed by Felix Schlag ("FS") and his initials are on
the obverse (heads side) below Jefferson's shoulder. 
The Roosevelt Dime was designed
by John R. Sinnock and his initials "JS" are located at
the base of Roosevelt's neck.
The Washington Quarter obverse
(heads side) was designed by New York sculpture, John
Flanigan. His initials "JF" are located at the base of
Washington's neck. On the 50-State Quarters, the obverse side (with the
head of George Washington) was modified slightly by Mint Engraver,
William Cousins, whose initials were added to the right of
Flanigan's initials. 
Gilroy Roberts, former
Chief Engraver of the U.S. Mint designed the head of Kennedy on the
Half Dollar. His initials are located at the base of the neck.
The beautiful reverse with the presidential coat of arms was designed by
Frank Gasparro.
The Sacagawea Golden Dollars
were designed by New Mexico sculptress, Glenna Goodacre
and Mint Engraver, Thomas D. Rogers. Goodacre's initials
"GG" are located on the sling that holds Sacagawea's baby, Jean Baptiste
or "Pomp." Rogers initials "TDR" are located to the right of the tail of
the Eagle near the "R" in DOLLAR.
9-Do one of the following:
a) Collect and identify 50 foreign
coins from at least 10 different countries.
b) Collect and identify 20 bank notes from
at least 5 different countries.
c) Collect and identify 15 different
tokens or medals.
d) Collect a date set of a single type
since the year of your birth.
This requirement gives a scout
exposure to other areas of the hobby; world coins and paper money are
often brought back from trips by relatives. It is a good way to
re-enforce what one has learned in school with a country's history and
geography. Tokens and medals are often encountered by a scout at
arcades, or with school awards. The date set gives a scout the
opportunity to explore circulating change, and gives exposure to a
popular way of collecting, that of the series date set.
 a & b) Tips on Collection World
Coins and Bank Notes by Bob Hartje
1) World coins and bank notes
are fun, inexpensive, educational, exciting.
2) They help you learn about
history, geography, economics, etc.
3) Buy or borrow a copy of the
Standard Catalog of World Coins (Krause
Publications)
4) You can purchase world
coins by the pound from some dealers.
5) Keep an inventory of your
collection. You might want to include: Country, location, denomination,
date, material, purchase price, date of purchase, interesting facts,
etc.
6) There are lots of ways to
collect including: by denomination, country, design (animals, plants or
flowers, women on coins, etc.), or try to collect one coin or note from
every country.
c) Tokens and Medals
A token is a coin-like
object that is usually made of metal and represents a particular value
or coin. Token are sometimes referred to as "Good Fors" because they may
be "Good For" or exchangeable for a particular item (like one glass of
soda) or service (like one hair cut). Some can be traded for actual
money, most cannot. Tokens can advertise a particular merchant or
product and can be very interesting and fun to collect.
A medal is a coin-like
object that is struck for award, celebration or commemoration. Unlike a
token or coin, they have no stated value. Medals can be beautiful,
elaborate pieces of art and are highly collectible.
Many books on tokens are
found in the ANA Library and available for loan to ANA
members.
There is a National club for
people interested in collecting Tokens and Medals – "TAMS"
(Token and Medal Society). They have an excellent journal.
d) Type Sets
The set can be of any one
denomination (1 cent, 5 cents, 10 cents or 25 cents) and must include
one (1) coin of every year, from the year you were born through 2005.
Any mint is acceptable. All coins must be of the same denomination.
10-Do one of the following:
a) Tour a U.S. Mint facility, the
Bureau of Engraving and Printing, or a Federal Reserve Bank and describe
what you learned to your counselor.
b) With your parent’s permission,
attend a coin show or a coin club meeting, or view the Web site of the
U.S. Mint or a coin dealer, and report on what you learned.
c) Give a talk about coin collecting to
your troop or class at school.
d) Do drawings of five colonial-era U.S.
coins.
This requirement allows those who travel (visiting Philadelphia,
Denver or Washington DC) or live in larger metropolitan areas to take
advantage of a special trip to the Mint or Fed banks. If one is not is a
big city, then those familiar with the Web can visit many different
sites of dealers or museums. If a scout is comfortable speaking before a
group, then the school talk option may be good. If a scout is not
comfortable, then he can learn more about colonial coins by drawing
some, and trust me, some of those drawings could be close but rough.
KNOW MORE!
For a list of the 12 Federal Reserve Districts and links to their
websites: http://www.federalreserve.gov/otherfrb.htm
The United States Mint's website: www.usmint.gov
The Bureau of Engraving and Printing's website: http://www.moneyfactory.com/
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