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31 Aug

Pros and Cons of the Penny Retirement

Coins-United States | nachos10

Should the US government stop producing pennies or should it continue making them? This remains an unresolved question to this date as there are people on both sides of the argument. There are notable points that both sides make. I will now list them and also describe them.

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31 Aug

How I got started collecting

| CERGRADER

So there I was, at Gam and Bucka's (gramma and grampa to us) house. 1975. Nothing to do while my brother was playing catch with Bucka outside. Gam feeling like she needed to do something other than feed me again got out her change purse. She asked me to separate out the pennies for her. When I did that I noticed the backs on some were different. A few canadian bird pennies were mixed in with wheat's and lincoln memorials. It triggered me to separate them by dates, and I noticed the mint marks. So I separated them by date and mint mark. She noticed my interest spiking as I played with them. I asked if she had any more I could go through... (if you are a collector you know where it went from there...lol).A year later she took me to the local mall, a coin show!!!!???? I had never dreamed there was such a thing!I was lost in awe of all of the booths and coins. One elderly gentleman saw the sparkle in me eyes and asked me if I wanted to see a 250.00 penny. "OF COURSE I DO", was my reply. He was a burly gray and white bearded older man who would have maybe intimidated the masses at the time. His giant hands reached into a book he had under glass and pulled out something called a 1909-S VDB. Shiney new looking yet is was 67 years old. I didn't know the reasons it was worth more money, I didn't care. I knew I was on the right path and had chosen a hobby that suited my goals in life. He told me he bought that penny from his quitting smoking. He saved all the money he would have spent smoking and bought coins.He told me I could buy a lot more coins than he had if I never smoked.Well one day I did smoke. Do you think that ever left my mind in my years of collecting? No, it didn't. His face stuck with me. I knew my collection was suffering. So I only smoked for about 4 years and I quit. I have followed his advice. I don't think he realized how much cigarettes would end up costing, or did he?.Moral of the story, as a collector, we can change the lives of the young ones with our words, our reasons, our willingness to share our experiences.Thanks Gam, thanks unknown collector.By the way that VDB is probably worth 4 grand today.

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30 Aug

The Exquisite Morgan Dollar

Coins-United States | nachos10

The Morgan Dollar was minted from 1878 to 1904 and lastly in 1921. This coin is composed mainly of 90% silver and 10% copper. The purpose of  producing this coin was to stabilize the silver prices which had crashed due to the Colorado silver strike. The designer of this coin, the famous George T Morgan, got his inspiration for the coin from Anna Willess Williams of Philadelphia as he used her as a model to create the beautiful image of Miss Liberty on the reverse of the coin. The obverse of the coin has the eagle clutching an olive branch and arrows which is alike to the eagle portrayed on the quarter dollar coins we use today. In conclusion, this coin is a magnificent and intricate piece of art which every avid coin collector should own

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30 Aug

Always Take Physical Delivery of Purchased Precious Metals!

Stocks & Bonds | Mike Ellis

For those of you who know me, especially if you know me well, my most oft quoted numismatic statement is, "Never, ever buy coins off of television!" My second most oft quoted numismatic statement is "When purchasing bullion, always take physical delivery!" Sorry folks but holding precious metals, that includes coins, on paper is just plain foolish. If you want any precious metals to be part of your IRA, make that the IRA of a safe deposit box at the bank or your own immobile vault! Never hold it on paper!Why? Check out this story: www.coinweek.com/bullion-report/merit-gold-silver-longer-accepting-bullion-orders/ . I am certain this is just one of many such stories coming. And it is not the first time this has happened. To my knowledge, precious metal pushers have been scamming people out of their hard earned money forever, especially since the early 1980s, again in the early 1990s and apparently now it is going to start up again. Every time there is a run up of values in precious metals it has been followed by a crash where prices settle back where they were or even lower than they were before parts of the run up. It has not been so obvious this time around and it may never again fall much below where it is now but, it is much lower than the record prices were just a short time ago. Plenty of people have lost lots of money and now some are beginning to lose it all that was on paper. Some have made money as well but they usually know what they are doing and are often those who sell it on paper and then disappear!I am just trying to share fair warning. Do not let history repeat itself with you being the victim this time!

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30 Aug

What Makes a Coin Collector Do Back Flips?

Coins - United States | coinsbygary

I love type collecting, my ultimate goal is to complete a Dansco 7070 type set with affordable, yet attractive coins. I also collect a type set of coins struck at every US mint with the exception of the mint in Manila when the Philippines was under US sovereignty. One of these days I'm going to have to buy a coin minted at the Manila Mint for my collection.

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30 Aug

Increasing the Nickel

Coins-United States | Yemrot

The nickel, previously, was three cents, and called a trime. The trime was minted during 1851-1873 in two different compositions. The first was metal was silver, silver being such a valuable and precious made three cents worth a very small amount. People would frequently lose such a small coin. The silver trime's weight was only 0.8 grams and the diameter 14mm. Changes were on the horizon for the coin when congress got and approved a proposal from Joseph Wharton, owner of the majority of nickel mines in the United States. Wharton's proposal called for a larger, thicker trime made of a copper-nickel composition. The new trime was 75% copper and 25% nickel started being produced in 1865. The new copper-nickel trime weighed 1.94 grams and had a diameter of 17.9mm. Later, in 1866, congress then felt comfortable to reintroduce the 5 cent nickel, with the same copper-nickel composition although increasing the diameter to 21.21mm, the weight to 5 grams and thickness to 1.79mm. All of those characteristic are what the current nickel is composed of.

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29 Aug

Crum donates $50,000 to ANA website project

World's Fair of Money | ANA Official Post | jfletcher

Adam Crum, owner of Monaco Rare Coins, donated $50,000 to the American Numismatic Association on Saturday, Aug. 9, the final day of the 2014 World's Fair ofMoneySMin Rosemont, Illinois. Accepting on behalf of the ANA was Executive Director KimKiick.

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28 Aug

Little to do about coins

| Cmower

Well, when I first started dealing with any kinds of coins it was just silver, .999 good ole bullion. It was a good gateway drug, if you will, into bigger and better things. A lengthy story short, I was walking out of the local jewelers when I noticed under the counter, a row of Morgan silver dollars. I looked down the row and I choose the first 1878 I saw (I figured it was still 90%) and picked it up with my grandfathers help. I never intended to start dabbling in numismatics, even then I just thought it was a cool piece but, the longer I was staring at it, the longer it started creeping into my mind and I wanted another one. As any good addiction story goes, that's when it was all down hill from there.

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28 Aug

RCNA's 60th Anniversary Convention Features Active Involvement of ANA

World's Fair of Money | ANA Official Post | Jake Sherlock

The American Numismatic Association was well represented in the activities of the 60th anniversary convention of the Royal Canadian Numismatic Association held in Toronto, Ontario, on August 13-16, 2014. Leading the delegation from the ANA, in keeping with this year's joint ANA/RCNA "Hands Across the Border" promotion, was president Walter Ostromecki from California.

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