Coin Identification

When buying or selling coins, one of the most important aspects of consideration is to know how to properly identify a particular coin of interest.

Whereas coin identification is a very significant aspect in coin collecting, it has to be combined with other factors that are equally important and also play a critical role in the identification process and eventually the overall success of the activity. For a better view and understanding click on any of the links below to view finer details of consideration.

Identifying a coin is crucial as it will determine if you are engaging in a meaningful and successful activity.

It is very crucial to verify and ascertain the validity or authenticity of a coin so as to properly gauge its marketability and eventually it’s value.

How To Identify Valid Coins :-

Once you have acquired a coin of interest, the steps shown here below are recommended so to assist you to identify and assess the validity and authenticity of the coin and if it meets the threshold of being eligible for immediate payment.

  • Confirm Denomination :- A coin normally has a face value indicated on it. These can be used to distinguish a coin of interest. If it lacks these then it is most likely a medallion.
  • Confirm Date :- The date indicated on a coin is a point of consideration as it enables you to zero in on a coin of interest. Point to note is that some coins may use a different calendar system in dating them e.g Islamic calendar or Orthodox calendar.
  • Note The Shape :- Coins are minted in different shapes depending on the tastes of their creators. These shape can be used to zero in on a particular coin of interest.
  • Note The Size :- Knowing a coins diameter and thickness can be crucial and these may require you to have some tools in hand like a ruler or calipers.
  • Confirm Colour :- These can a great indicator of a coins metallic composition though it is not an absolute determinant of its content. Colour may be used together with other techniques to establish the authenticity of a particular coin of interest.
  • Image On The Coin :- These can be used in identifying the origin, age or ruler in power under which it was minted. Also the coins image can be used to identify the socio-economic activities of the community the coin was circulating in.
  • Inscriptions On The Coin :- These are the observable writings on a coin and can be a great pointer to a valid coin. These can also be a pointer to the language of the society under which the coin was circulating.
  • Mint Mark :- Some coin creators usually placed a special mark on their coins as a sign of prestige and ownership. These marks are at times cleverly hidden on the coin so you may require to have prior knowledge so to identify and spot the mark.
  • Reference Catalogue :- Established coin collectors and enthusiasts have gone an extra mile and created coin catalogues, coin identification Apps and a wide range of references of which these information can be used to identify a coin of interest.
  • Ask An Expert :- After checking all the above points of consideration, you may not be fully able to pin point a coins validity. You may need to consult experienced coin collecters and coin dealers for expert opinion and advice.

WARNING :- Be aware that many rare coins are counterfeited by unscrupulous people who doctor less valuable coins so to resemble high grade rare coins.

Once all these factors of Coin Identification have been taken into account and have been fully exhausted, then you are assured of trading a coin that has a great potential of earning big money in the coin collectors market.

Identifying a coin of interest is a very crucial and important aspect of coin trading. Interestingly it is just a small fraction of the whole journey of buying and selling of coins.

Coin Cleaning :-

Coins originate from extremely different backgrounds and regions and apart from that they also pass through very diverse environmental conditions and situations in their day to day circulation.

Whether you are an amateur coin collector or an experienced coin collector or scholar, one way or the other you will definitely come across a coin that is not so appealing to the eye due to its dirty looking surface.

You will definitely and eventually be at a point of considering how to remove the dirt or grime from your coin.

If you need your coins to be always good looking, then the best form of cleaning is by protecting them from the need of being cleaned in the first place.

These can be achieved by exercising good coin handling practices which if properly taken into account can be of great assistance whichever type of coins you are dealing with.

How To Handle Coins :-

How you handle your coins will greatly impact and determine their eventual appearance and eye appeal which will in turn better position them in the coins market.

  • Coin Handling :- Always handle coins between your index finger and thumb. These ensures you don’t transfer your body fat, sweat or prints onto the coin.
  • Use Gloves :- Using soft cotton or latex gloves is a great idea when handling coins.
  • Get A Mask :- Talking when handling coins may expose them to your saliva droplets which contain chemicals that may harm your coins. A mask may come in handy to save the situation.
  • Soft Cotton Cloth :- These acts as a soft pad which cushions coins from hitting against each other and also incase of accidental falls.
  • Keep Foods And Drinks Away :- When handling coins always keep off foodstuffs and drinks since droplets from them may interfere with a coins surface.

Coins with some kind of tarnish are highly appreciated as an indicator of age and authenticity so cleaning them may wash away a rare coins value.

Although you should never clean your coins since cleaning devalues a coin, there comes a time that you may need to clean them. Below are some basics that can help you in doing it properly and effectively.

Procedure Of Cleaning Coins :-

  • Start by assembling all your cleaning materials together to avoid moving around once you have started so that the process is continuous from start to finish.
  • Wash your hands thoroughly with soap to ensure your hands are clean. You can opt to use latex gloves if you may wish so.
  • Place a soft towel around your cleaning area to serve as a soft landing and drying spot.
  • Prepare a foamy soapy bath by filling a plastic container with warm water. Squeeze a proportional amount of mild dish detergent. Avoid using glass or metallic containers to minimize dents or scratches.
  • Prepare the final rinse using another plastic container filled with distilled water which is best for these step. Normal water is treated with fluoride which may affect the coins surface.
  • Start cleaning your coins one by one to avoid them from knocking against each other. Gently rub the coin with your fingers. You may use a very soft brush to avoid scratching the coins surface.
  • Rinse your coin thoroughly with running water until there is no soap residue on the coins surface.
  • Complete the final rinse with the earlier prepared distilled water. These will remove any chemicals gotten from the normal water and soap.
  • Soak the cleaned coin in a vinegar or lemon juice sitz bath for a short period of time roughly half an hour.
  • Complete the process by carefully drying the coin with the soft towel till you achieve a completely dry coin.
  • Repeat the full process and steps for all the other coins.
  • Store the coins safely in a cool and dry place to avoid them from developing moisture.

It is never time for cleaning your coins. No matter how dirty, worn out or tarnished they are, the filth is part of their beauty and market value.

Depending on a particular coins metallic composition, cleaning techniques may vary since different metals have different reactions to various cleaning agents. Here below are some crucial metal-specific cleaning tips.

  • Copper Coins :- Combine a table spoon full of salt and vinegar to make a thick paste. Apply the paste on the coin and allow a short time before doing the final rinse.
  • Bronze Coins :- Substitute the soapy water with commercial olive oil. Carefully and lightly wash the coin.
  • Silver Coins :- Soak coin in lemon juice before drying so as to keep it looking fresh and shiny.
  • Gold Coins :- Only use warm soapy distilled water and dry the coin using a gold cleaning cloth.

Different cleaning techniques can be employed to take care of different types and forms of grime. It is beneficial to know how to properly clean different coin stains so to avoid causing more harm to your coins.

Types Of Coin Stains :-

Take into account the tips below depending on the kind of grime you are attempting to take care of.

  • Lacquer :- These is a loose unnatural covering on a coins surface. Use a prolonged sitz bath of acetone or alcohol to remove these unwanted covering on a coin.
  • PVC Film :- Polyvinyl chloride (PVC) is a plastic like material that can occur on a coins surface. To clean these type of grime, soak coin in acetone for twelve hours.
  • Tarnish :- These is a form of corrosion as a result of exposure to moisture and usually causes dullness or loss of brightness on a coin. Be careful when handling these type of stain. Never use an abrasive cleaner. Use a mild dish detergent mixed with salt and vinegar. Rub gently with an extremely soft brush to avoid making hairlines on your coin.
  • Dirt :- If your coin has excessive dirt, soak it in olive oil, vinegar or natural lemon juice for a considerable period of time then use a soft brush to gently wash off the dirt.

Always ensure you carefully check your coin to confirm the type of stain on it’s surface so as to properly determine the procedure of cleaning it.

Coin Cleaning Accessories :-

A serious coin collector wishing to clean their coins may be at an advantage to always have various cleaning agents and accessories nearby. These may include :-

  • Salt is an excellent additive when combined with other cleaning agents. It helps in removing rust though should be used in a dissolved form so to avoid scratching your coin.
  • Vinegar which contains mild acetic acid is essential as it helps reduce and remove coin corrosion.
  • Tomato Ketchup contains citric acid which is useful in dissolving oxides that have settled on a coins surface.
  • Cokes and Colas are sure additives that easily cut through grime that has settled on a coins surface.
  • Lemon juice is a great accompaniment that easily removes tarnish from coins.
  • Always use a soft brush, latex gloves, plastic containers and soft towels when cleaning coins.

Certain general coin cleaning tips are essential to sum up. These include making sure you avoid strong or excessive scrubbing which essentially gives your coin a brilliant and shiny look but infact removes the much sought after lustre on the coin therefore lowering your coins value and acceptability in the market.

Tap water contains chlorine which can have adverse effects on your coins. Endeavor always to use vinegar and iodized salt combined with distilled water. Using these is the best non destructive way of cleaning coins.

Coin Storage :-

Once you have a particular coin of interest, at times you may find that you may need to hold on it or maintain it for a while as you wait for the appropriate time to place it in the market.

As a serious coin collector there are two main considerations that you may have to keep in mind. First is to figure out if you require storage for an individual coin and secondly if you need to store a set of coins or an entire collection.

Any type of container or holder is great to store low value coins whereas airtight containers made of inert materials are best for high quality, rare and valuable coins.

Coins are made from different types of metals or combinations of metals though they may not be as strong as the metals in their natural form. They have to be properly maintained more than if they were in their usual metallic form.

Likely Causes Of Coin Damage :-

  • Incorrect Handling :- Always handle coins with extreme care and caution. Handle coins using your index finger and thumb or even opt to use latex gloves. Be aware of dropping or scratching them and avoid abrasive surfaces and materials.
  • Air Pollution :- Various environmental conditions and situations can have an adverse effect on your coins. Urban settings may have industrial fumes whereas rural settings may expose your coins to moist conditions.
  • Acidity :- Items that we normally use in coin collecting mostly contain various types of acids. The cleaning soaps, the containers used and other items are made from materials that have acids as their ingredients.
  • Heat And Cold :- Too much heat can enlarge or distort your coins. Kitchen areas for example may be too hot or too cold due to fridges, freezers, ovens  and other appliances.
  • Humidity :- Metals react heavily when exposed to water. Keeping water away from your coins is very easy only that water in vapour form can penetrate the best sealed environments which can have an adverse effect on your coins.

Always ensure you choose your point of storage carefully so to avoid putting your coins at risk. Be aware that any slight disfiguration appearing on your coins greatly reduces their value and appeal in the coins market.

Best Places To Store Coins :-

When choosing where to store your coins, always consider places that ensure they are always secure from theft and always safe from conditions that can result to or inflict damage on them.

Another crucial factor of consideration is the quantity of coins you intend to store and also how often you will be wishing to access them.

Home Storage :-

Storing your coins at home is the most inexpensive way to ensure they are well protected from damage and also they are easily accessible whenever you are in need of them.

Depending on their quantity and also how often you need to access and show them off to potential business partners, you may need to make a small investment so as to obtain a few coin storage accessories that include but not limited to :-

  • Coin Tubes :- These are great when storing coins that are of the same size. They are airtight with a lid thus keeping out humidity. Disadvantage of coin tubes is that coins keep rubbing against each other which may result in scratched coins.
  • Coin Flips :- These usually offer an effortless form of storage as it ensures a coin is stored free from humidity in a transparent housing that facilitates easy observation of the coin.
  • Coin Albums :- These are used when storing a slightly large collection of different sized and shaped coins. They have an advantage of adding a brief written description of the coins and also facilitates easy viewing free from damage.
  • Coin Boxes and Coin Chests :- These are advisable when you have a big and wide collection. They have an advantage of added security only that they need to be combined with other coin storage accessories so as to ensure your coins are safe and far from damage or loss.
  • Coin Slabs :- These are the best and most recommended forms of coin storage. They offer a well protected and sealed environment free from unexpected or accidental damage. They also allow for easy viewing at all times. They are used for storing certified, high value and rare coins only.
Third Party Storage :-

At times security may be more important than all other forms of damage. In such a case you have to consider to store your coins in a more secure environment more than at your home.

Approaching a bank or security installation whereby you acquire a safety deposit box to store your coins. These method is an advantage if you have high value coins.

Disadvantage of these form of storage is that you might miss the chance of easy accessibility to your coins and also the vault environmental conditions might not be the best for your coins.

Coin Grading :-

Coin grading is the process of determining the condition of a coin of which these condition is used to determine the approximate or actual value of the coin in the coins market.

Coin grading is a very crucial and delicate part of coin collecting since it is the point at which a collector knows the actual or approximate value of their coin or collection.

The process of grading a coin requires a lot of experience and expertise so to correctly make a fair, informed and honest valuation of how much you can pay for or earn from a particular coin of interest.

Coin grading is an activity that is done by an experienced coin collector, coin dealer or an expert/professional appraiser.

Once you have acquired a particular coin of interest you may find it advisable to first grade it on your own so that you have an overall view and knowledge of what to expect after taking it for expert opinion and professional grading.

How To Grade Coins :-

Grading coins is not an easy task as it requires lots of practice, experience and tactics. You will require to have a strong magnifying glass so to have a clear view of your coins properly and thoroughly. A strong and bright source of light will also be very helpful during the activity.

Once you have set up yourself for the activity you may then be at a good position to know what you are looking for on your coin. Here below is what you are required to keep an eye and look out for on your coin when grading.

  • Contact Marks :- Check for Hairlines which are minute scratches on the surface of a coin that come as a result of the coin coming into contact with abrasive materials. Scrutinize the coins rim, edge and surface for any cuts, nicks, notches or any other form of wear.
  • Preservation :- Check the coin for any visible signs of excessive polishing, cleaning, poor storage or any alterations.
  • Luster :- These is the sheen or soft like shine on the surface of a newly minted coin. When the coin is rotated under a single light source, the lights reflection will spin and dance across the coins surface. Be extra vigilant to observe and detect the coins Luster if it is brightly evident or if it has dulled.
  • Eye Appeal :- These is the overall look and feel of the coin. It is how all the aspects of a coin come together to give it that eye popping and breath taking look that carries away a coin collectors’ mind and heart.

Once you have checked and rechecked your coin then the other fact to keep in mind is to be aware of where to place your coin on the grading ladder.

Coin collecting is a universal activity that has participants from all walks of life worldwide. Due to these fact, professional coin collectors, scholars and researchers led by Dr. William H. Sheldon came up with an idea to unify the grading systems of different collectors.

The Sheldon Coin Grading Scale :-

As a way of achieving a common ground and agreement among worldwide coin collectors, the Sheldon Scale was adopted so as to universalize the assessment of a coins condition which is a great indicator and pointer to a coins value and eventual price in the coins market.

The Sheldon Coin Grading Scale is a 70-point coin grading scale that describes the condition of coins from the poorest in condition upwards to the best available condition. Below is a shortened version indicating the main grades of the scale.

  • Poor – 1 :- Coin is barely identifiable.
  • Fair – 2 :- Coin is fairly and thinly identifiable.
  • Good – 4 :- Most details on the coin are worn flat. Most inscriptions are not visible if not clearly clear.
  • Very Good – 8 :- Design is worn out but has some visible detail and it is not flat. Legends are abit clearer.
  • Fine – 12 :- While wear is noticeable most legends are still clear. These is the first grade typically considered as pleasant to look at if not desirable.
  • Very Fine – 20 :- The wear on the coin begins receding to higher finer points. Most of the low level details are intact.
  • Extremely / Extra Fine – 40 :- Coin still has light wear but all details and writings are sharp and clear. These is the first grade that coins still have a Lustre on them.
  • About Uncirculated – 50 :- At these level of grading, wear is basically a trace element. Other criteria of grading like Luster take over. Luster here is half visible.
  • Uncirculated – 60 :- All Luster is fully visible and available.
  • Perfect Uncirculated – 70 :- These is the epitome of coin collecting. Also called Mint State with no wear and having full Luster.

The Sheldon Coin Grading Scale is a very important and helpful tool since it offers and creates a level field for all coin collectors when assessing the value of a particular coin of interest.

Generally speaking, depending on the market demand of a particular coin it is safe to say that a grade 70 coin will be seventy times more worth than a grade 1 coin on the Sheldon Coin Grading Scale.

Coin Valuation :-

Coin Valuation is the process of attaching a payable monetary value to a particular coin of interest. These process is done by a person of high integrity called an Appraiser.

Generally, basically and honestly speaking a coin is only worth as much as someone interested in it is willing to pay for it and you are willing to agree to that payment.

The value of a coin is dependant on three factors and each one plays a pivotal role in the overall determination of a fair price that is agreeable to the buyer and the seller. These factors are :-

  • Scarcity / Rarity :- These is the commonness of a coin in the market. The more many people have the same coin of interest, the lesser in value it is valued.
  • Popularity :- Some coins attract a lot of attention and interest from collectors due to their informational or historical significance. The more significant a coins is, the more popular it gets and ultimately the more in value it is valued.
  • Condition :- The overall condition of a coin is crucial when it is being valued. The more higher a coin appears on The Sheldon Coin Grading Scale the higher in value it is valued.

As all other markets worldwide the simple rule that applies everywhere is that the higher the supply, the lower price. The higher the demand the higher the price.

The only guaranteed value of a coin is it’s face value. Beyond that then the desires of a collector will vastly influence how much a coin is really worth.

At times some coins may be in very high supply but very low in supply of high grade coins that the demand requires. Therefore it is safe to say that demand is the ultimate determining factor of a coins eventual value.

Types Of Coin Valuations :-

Valuing coins can be done in several formations depending on the reasons of the valuation and also on who is doing the valuation. At the end of the day the value is correct if it is agreed upon by the seller and buyer.

  • Book Value :- These is the generally accepted value of a coin
  • Buy Value :- These is the value a dealer will pay a collector. These can also be called the Numismatic value.
  • Retail Value :- These is the value that a dealer would sell a coin for to a collector.
  • Wholesale Value :- These is the value that a dealer would sell a coin for to another dealer.
  • Appraised Value :- These is the value of a coin after grading and appraisal from a recognized and professional coin appraiser.
  • Bullion / Intrinsic Value :- These is the value of a coin that is determined by the current price of the metal that it was minted from.
  • Nostalgic Value :- These is the value of a coin derived from it’s popularity.

As a wise coin collector always aspire to have your coin appraised by a professional coin appraiser since these is the surest method of achieving the best value for your coins.

A professional coin appraiser will give you an accurate and up to date value of your coin. They will base their valuation on their expert opinion of your coins condition and also take into account what similar coins have been selling for of late.

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