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Posts Tagged ‘Lincoln Cent’

COLLECTING AND INVESTING IN COINS IS SYNERGISTIC!

Posted in coin investments, Gammill Numismatics, knowledge is power, numismatics, tagged , , , , , , , , , , , , , , on August 28, 2008| Leave a Comment »

Over the years, as an avid collector of all things related to numismatics, I have talked to many colleagues who accurately regard themselves as true, “bona fide collectors”.  That is to say, they have absolutely no interest in discussing their collection as an investment instrument under any circumstance.  Well almost any circumstance.  They will rock back on their rears when they start talking about how much their AU-50 1909 S VDB cost them back in 1957.  Yes, they will remind you that they have made some good purchases over the years.  However, they most likely will say they have no desire or interest in “investment grade or investment quality coins” right after telling you about that very nice Lincoln cent.  They are investors aren’t they?  They say they are collectors and collect for the pure enjoyment of participating in the hobby.  They often remind you that it’s the hunt that drives them year after year, looking for that one special coin(s), book or piece of paper money to add to their collection…and they are dead serious and proud of that pursuit.  However, aren’t these collectors also investors by the simplest of definitions?  They have invested in America’s future by investing (collecting) in her past!

 

I know a number of collectors that fall under the definition of “bona fide collector” and they are some of the most knowledgeable and enjoyable people you will ever find when it comes to discussing collecting or any other topic as far as that goes.  I guess the simple point they make is that making money is not the most important aspect of their collecting activities.  Money has not been the driving force that has kept their interest in collecting alive over the many decades of what they consider a very nice leisure activity.  In addition to being quite knowledgeable about the history of the coin series they find most interesting, in general, they are always willing to share their collection with you, seek your opinion, giving new and young collectors sound advice and in the end, everyone gains an abundance of new knowledge and new friends.

 

If you talk to these people long enough you will generally find that they have no plans of ever selling their collection.  Talk to them a little longer and you will find out why they will never sale.  Very often, they are going to pass their collection on to future family generations.  I know one gentleman that has assembled five complete sets of Indian Head Cents in EF to MS 65.  They will go to his five grandchildren.  I have seen three of these sets and they are truly amazing.  Beautifully matched in color and quality and just about as problem free as you can imagine.  These sets have been assembled over a forty year period.  A truly remarkable task has been accomplished by this gentleman, reflecting on his own personal character as well as his dedication to pass not only his interests on to his children and future generations, but also the history of our country.

 

A second gentleman I met many years ago has put together three complete sets of Indian Head Cents for his grandkids.  To add to the hunt, he is attempting to upgraded each coin in every set to “four full diamonds”.  What a goal.  His sets are in the grade range of EF to AU 58.  Another wonderful accomplishment and he knows hel’ll never get full diamonds on all the coins, but he keeps looking.. 

 

I know individuals who have inherited multiple Lincoln Cent and Buffalo Nickel collections from a previous generation.  These people are not collectors but continue to hold the collections in hopes of future generations taking interest in a hobby enjoyed by a past generation.  These are remarkable coins that are properly stored and cared for and just waiting for their next custodian. 

 

I could go on but I think the point has been made.  These collectors have had a goal to leave something special to their families that gave them great enjoyment and satisfaction over many years.  They didn’t call themselves investors, but if fact they were.  All of these sets have greatly appreciated over the years.  It doesn’t matter who reaps the benefits of the financial gains, these gentleman have had a great experience collecting and assembling something they love and because they stuck with quality purchases, and made the key and semi-date purchases, they indeed have made a handsome investment over time. 

 

Any collection that has been assembled by a “bona fide collector”, as they might call themselves, stressing strike, luster and eye appeal, have done very well over the decades.  You don’t have to spend a million dollars, or make a million dollars on the sale of a collection to be both an astute collector as well as an investor. 

 

Collecting and investing in coins is synergistic!

 

COLLECT OR INVEST IN AMERICA’S FUTURE BY COLLECTING AND/OR INVESTING IN HER PAST!  IT IS TRULY AN AMAZING STORY FOR ALL GENERATIONS.

 

 

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A Coin is Worth More Than a Coin…When it is RARE and in DEMAND!

Posted in coin condition, Gammill Numismatics, knowledge is power, numismatics, tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , on August 1, 2008| Leave a Comment »

Coin collectors, old and new, as well as many non-collectors, often wonder these days whether the coins in their pocket (or modest collection) are worth more than their face or bullion value.  The following are basic factors that in general influence a coins value.  No rocket science here, just common sense.

How rare is that Lincoln cent I just found in the parking lot?  It’s for sure old because it has the wheat stalks on the reverse and those haven’t been around for almost 50 years.  Ah, my ship has landed….or has it!

People generally realize that the rarer a coin the higher the coins value. Of course the condition of the coin is most often also very important.  The exception to this would be a unique coin, i.e., one of a kind in which case condition takes a back seat.  Additionally, the common belief that the older the coin the greater its value is not always true.  The bottom line is 1) condition, 2) mintage (number produced), and 3) demand.  These are “in general” pretty good criteria to follow when you start to evaluate that parking lot find.  

Is the coin in good condition?  The better the condition the greater the value and thus the more it will bring in the marketplace.   The condition (strike and luster) and eye appeal of a coin contribute heavily to a coins value.  A coin that is in mint state condition could actually be worth a hundred times the same coin in a lower circulated grade.   If you don’t know how to grade coins, find a trustworthly dealer that can help you.  You also have the choice of sending it to a third party grading service such as PCGS or NGC.   But remember, knowledge is power and you want to keep the “knowledge card” in your hand.  The ANA sponsors excellent grading classes during the Summer Seminar Series each July.  The instructors represent the best in the industry.  Inaddition, the way the grading is taught keeps you in tune with the market and thus the ever changing commerical demands of the market.

If the coin is in nice condition the next question is, how many were made.  Is the coin rare or just a common date (which might be the reason you found it where you did) within the series.  Pick up a “RED BOOK” at you local bookstore, or just google “US Coin Mintage” and find out how many were made.  Low mintage usually means a higher price.  If you find a coin with a mintage less that 500,000 you probably  have a very interesting coin in your possession.  However, if they made 50,000,000 million, well, you probably don’t have anything of great value. 

Supply and demand!  In those series that are heavily collected, Indian Head Cents, Lincoln cents, Buffalo Nickels, Liberty Head Dimes, the key dates are always in demand….there just aren’t enough of the low mintage coins to go around and the prices stay high.  However, higher mintage issues cost a fraction of these other key dates and this is even true of the mint state issues. 

What about the idea of age, how old is the coin.  Is an older coin more valuable that a relatively modern issue?  No, just because a coin was made in the 16th century does not mean it is more valuable than a coin made in say 1972 (Lincoln double die).  It goes back to rarity, demand and availability.  There are many 16th century coins that can be purchased for less than a hundred dollars, or even fifty dollars.  There were just a lot of them made and they have surived over time. 

Once again, how many are available and what is the demand.  Those are the two big questions for those of us in the world of collecting.

A Coin is Worth More Than a Coin…When it is RARE and in DEMAND!

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200th Anniversary of the Birth of Abraham Lincoln

Posted in Coins, Gammill Numismatics, Inventory, numismatics, tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , on July 29, 2008| Leave a Comment »

1919 D Lincoln Cent

Next year, 2009, we will celebrate the 200th Anniversary of the birth of our 16th President Abraham Lincoln.  In addition, 2009 will mark the 100th Anniversary of our Lincoln Cent.  Lincoln is remembered for his personal struggles and family tradgies he encountered during the civil war by most, none the less, he had a very colorful career as a self taught attorney prior to becoming our Nations President.  In the mid 1850s his cases focused almost entirely on transportation interests of river barges and railroads.   These were giants of industry at the time and Lincoln was in the middle of it all. There are several prominent cases during this time in which Lincoln demonstrated his skills as an attorney.  Such as, in 1851 Lincoln argued that as a matter of law a corporation is not bound by its original charter when the charter can be amended in the public interest.  His most famous civil case, which won Lincoln much notoriety, was the 1856 landmark Hurd v. Rock Island Bridge Company.  However, thought by many his most notable criminal trial came in 1858 in his defense of William Armstrong, a fellow who had been charged with murder.  Lincoln’s use of judicial notice that an eyewitness had lied on the stand) was a rare tactic at the time.  It is a very interesting story. 

Our 16th President was indeed a very colorful and brilliant gentleman and to continue to honor him in 2009 on our coinage is a continuation of our respect to his character and leadership during a challenging time of this great nation.

In 2009 the Lincoln Cent reverse design will change and feature a series of four different designs released every three months. Each of the designs will represent different stages in the life of Abraham Lincoln (see below).

  • Birth in Kentucky (1809-16)
  • Formative Years in Indiana (1816-30)
  • Professional Life in Illinois (1830-61)
  • Presidency in Washington DC (1861-65)

Additionally, the Secretary of the Treasury has the authority to mint and issue numismatic coins with the original composition of 95% copper and 5% tin and zinc.  Fantastic!

There will also be 500,000 Commemorative Silver Dollar issued to honor President Lincoln.  The design will be illustrative of the life and legacy of President Lincoln.

Both proof and uncirculated versions of the coin will be available from the US Mint from January 1, 2009 to December 31, 2009.

Starting in 2010, the reverse design will be changed once again to one emblematic of Lincoln’s preservation of the USA as a unified country as we continue to honor this Great Statesman into the future.   

The 2010 issue will permanently replace the Lincoln Memorial reverse used since 1959.

 

Thanks for reading.

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