Coin Collecting For Dummies (eBook)

Neil S. Berman: Neil S. Berman has been an expertnumismatist and professional rare coin dealer since 1968. Comingback to the United States from Israel at the end of 1967, heapprenticed to the world-renowned Dutch numismatist and coinauctioneer Hans M. F. Schulman. He incorporated as Neil S. Berman,Inc., in 1968. In 1974, Neil became an associate of MetropolitanRare Coin Company of New York. For the next several years, herepresented Arthur and Donald Kagin of Des Moines, Iowa, then thelargest coin dealer in the Midwest, as a purchasing agent. Later herepresented Superior Galleries under the Goldbergs, also as apurchasing agent. In 1979, Neil, with his brother Jed, foundedFirst Federal Coin Company, the first East Coast coin company tosell rare coins into IRA, Keogh, and pension plans. From 1983 until1990, he was the purchasing agent for Asset Services, Inc., thelargest coin company serving the financial community. Neil donatedhis large collection of German and Swiss silver minor coins to theAmerican Numismatic Society (ANS) in 1989. In 1997, he received theAmerican Numismatic Association (ANA) Service Award from ANAPresident David Ganz. In 2005 and 2006, he was associated againwith Superior Galleries of Beverly Hills, this time under theownership of numismatist Silvano DiGenova. Neil catalogued the U.S. gold in the 1977 Kagin's ANA CoinAuction Sale, the first New York coin auction sale in 1981 of Spinkand Sons, England's oldest and largest coin dealer, and acoin auction sale by Superior Rare Coin Galleries of Beverly Hillsin 2006. Neil has been published in Barron's, Trusts & Estates,The National Law Journal, The Financial Planner, PensionsWorld, and Executive Jeweler. In 1987, he wrote, withHans Schulman, The Investor's Guide to United StatesCoins, which sold 40,000 copies and received a NumismaticLiterary Guild award for Best Investment Book. In 2007, he wrotethe second edition of the book with Silvano DiGenova. Neil has justcompleted a book on rare coin auctions. Ron Guth: Ron Guth is a jack-of-all-trades and master ofone -- numismatics. Ron is a certified public accountant(CPA), a licensed auctioneer, and a writer, but the bulk of histime is spent on his true love -- coin collecting and dealing.Ron's battle with coin fever began when he was 12 years old,and he's never gotten over it. After a decade of collecting,Ron went professional in 1976, when he began working for a localcoin shop in Tampa, Florida. In 1978, he partnered with DavidGoldsmith and purchased the Bay Area Coin Exchange in Tampa. Ronand Dave blasted through the silver boom, and then split up in1981, when Ron moved to Evansville, Indiana (his wife'shometown), where he set up shop on First Avenue. In 1984, Ronformed Mid-American Rare Coin Auctions with Jeff Garrett ofLexington, Kentucky. The company quickly established itself as aninnovative leader in the industry and, within the first year,became the fifth largest rare coin auction company in America. In1988, Ron sold his interest in the company, went back to school tofinish his bachelor's degree in accounting and finance, andhas since become a numismatic consultant and a major dealer inGerman coins. In 1984, Ron won the American Numismatic Association's Wayteand Olga Raymond and Heath Literary awards. He has written manycoin-related articles and is listed as a contributor to severalbooks, including Walter Breen's Encyclopedia of UnitedStates Coins, Krause Publications's Standard Catalogof German Coins, Roger S. Cohen's American Half Cents,Walter Breen's Encyclopedia of United States Half Cents,and others. Ron has served as a numismatic consultant for manyrare-coin companies, including major firms such as the ProfessionalCoin Grading Services, Heritage Numismatic Auctions, and EarlyAmerican History Auctions.

Introduction 1

Part I: Making Heads and Tails out of Coin Collecting 7

Chapter 1: Welcome to the World of Coin Collecting 9

Chapter 2: Understanding Numismatics 15

Chapter 3: Arming Yourself with Knowledge 27

Chapter 4: Storing Your Collection Correctly 41

Part II: Ancient to Present Day: Choosing Coins for Your Collection 63

Chapter 5: Showing Their True Age: Ancient Coins 65

Chapter 6: Making a Safe Bet with U.S. Coins 71

Chapter 7: Globetrotting with World Coins 75

Chapter 8: Exploring the Wild Side with Rare, Expensive, and Esoteric Coins 81

Part III: Focusing on U.S. Coins 91

Chapter 9: Colonial Coins: America's Ancients 93

Chapter 10: Copper and Nickel Coins: Made for the Masses 109

Chapter 11: Silver Coins: Keeping Commerce Alive 131

Chapter 12: Gold Coins: Concentrated Wealth 163

Chapter 13: Commemoratives: Raising Money with Money 181

Chapter 14: Advancing to Oddball Coins 195

Part IV: Buying Coins the Safe Way 205

Chapter 15: Foiling the Fakes 207

Chapter 16: Weaving Your Way through Price Guides 223

Chapter 17: Wheeling and Dealers 233

Chapter 18: Going Once, Going Twice: Buying at Auction 243

Chapter 19: Affecting Value through the Condition of Your Coins 255

Chapter 20: Grading Coins: Your Best Defense 269

Part V: Selling Coins and Minding the Law 285

Chapter 21: The Art of the Sale: Selling Your Coins Yourself 287

Chapter 22: Selling Your Coins on Consignment or at Auction 301

Chapter 23: Coin Investments, Taxes, and the Law 313

Part VI: The Part of Tens 319

Chapter 24: The Ten Most Valuable U.S. Coins 321

Chapter 25: Ten Favorite U.S. Coin Designs 325

Chapter 26: Ten Ways to Get Your Kids Involved in Coin Collecting 331

Glossary 337

Index 345

"...a treasure trove of information on numismatics." (Stamp & Coin Mart, July 2011).

"After reading this guide you will understand the basics about ancient coins, US coins and world coins." (Stamp & Coin Mart, September 2011)