Valuable Tips On How To Collect Coins PDF
Valuable Tips On How To Collect Coins PDF
Valuable Tips On How To Collect Coins PDF
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Ti p s
Va l u a b l eation!
& Inform
LITTLETON’S
HOW TO
COLLECT
COINS
✓ Find the answers to the
top 8 questions about coins!
WELCOME…
Dear Collector,
Coins reflect the culture and the times
in which they were produced, and U.S.
coins tell the story of America in a way
that no other artifact can. Why? Because
they have been used since the nation’s
beginnings. Pathfinders and trendsetters –
Benjamin Franklin, Robert E. Lee, Teddy
Roosevelt, Marilyn Monroe – you, your
parents and grandparents have all used
coins. When you hold one in your hand,
you’re holding a tangible link to the past. David M. Sundman,
You can travel back to colonial America LCC President
with a large cent, the Civil War with a two-cent
piece, or to the beginning of America’s involvement in WWI with
a Mercury dime. Every U.S. coin is an enduring legacy from our
nation’s past!
Have a plan for your collection
When many collectors begin, they may want to collect everything,
because all different coin types fascinate them. But, after gaining
more knowledge and experience, they usually find that it’s good to
have a plan and a focus for what they want to collect. Although
there are various ways (pages 8 & 9 list a few), building a
complete date and mint mark collection (such as Lincoln cents) is
considered by many to be the ultimate achievement. After the
anticipation of waiting to fill the next space in your album, you’ll
experience proud satisfaction when you locate that coin.
Of course, one of the greatest thrills of collecting is hunting for
elusive coins that make your collection stand out. Some collectors
dream of owning a scarce coin like the 1909-S V.D.B. Lincoln cent.
Others search patiently for prominent rarities from the annals of
numismatic lore. Coins like the 1804 Draped Bust silver dollar
with only eight known examples, and which sold for $4.14 million
in 1999; or the 1913 Liberty Head nickel, with only five known
specimens, one of which sold for $5 million in April 2007; or the
King Farouk 1933 Saint-Gaudens $20 gold piece, which sold for
$7.59 million in July of 2002. Rarities like these are not the
majority, and most collectors are drawn to the hobby because it
offers history, art, challenge of completion, and fellowship.
Whatever your interest or experience, I hope you’ll find How to
Collect Coins a fun, useful, and educational guide to the hobby.
Sincerely,
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Liberty Cap Left Liberty Cap Right Draped Bust Classic Head Braided Hair
1793 1794-1797 1800-1808 1809-1836 1840-1857
The smallest denomination U.S. coin, yet nearly the size of a modern quarter.
Made of pure copper, the half cent was useful for making change during its early
years of issue. But as time passed and things grew more expensive, the half cent
lost its usefulness, and was abandoned shortly before the Civil War. Today, all half
cents are scarce. All types carry a bust of Liberty on the obverse and a wreath on
the reverse.
LARGE CENT 1793-1857
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was ceased, all circulating dimes were minted in fine silver. Dimes in higher
grades are scarce and expensive, since this denomination was used extensively
compared to quarters and halves. But many early dimes are still available in
circulated condition at a more reasonable cost.
QUARTER 1796-DATE
Because of the practice of cutting up the Mexican 8 Reales coin into eight parts
(thus the “Piece of Eight” name), the U.S. quarter, as 14⁄ of a dollar, became known as
“two bits.” As a silver coin of substantial size until 1964, the quarter has always been
popular – both in circulation and among collectors. Several designs have been used
since 1796, and many collectors try to assemble at least one coin of each type.
Quarters continued on next page
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Though the half dollar is almost forgotten today, it was once the major silver coin
of circulation. At one time, a half dollar was often more than a person made in a
day’s labor. To have one, or perhaps two, was a significant stash of money.
Because the half dollar is seldom seen today, it continues to grow in popularity.
DOLLAR 1794-1873
Early silver dollars represent the remarkable era in America’s history when the
colonies united to form what would become one of the greatest nations on Earth.
Since precious silver ore was scarce in that era, the dollars of that period have very
low mintages. Silver dollars were not minted between 1804 and 1836, so those that
still circulated were scarce and hoarded. In addition to the early dollars pictured, a
number of so-called “Gobrecht” dollars were issued between 1836-1839.
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Susan B. Anthony
1979-1981,
1999
Eisenhower
1971-1978 American Eagle
1986-Date
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U.S. COMMEMORATIVES
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U.S. HOARDS
Well-known hoards are exciting for collectors and the public, especially
when they were amassed under remarkable conditions. During the 1990s,
Littleton Coin purchased three unusual hoards.
NEW YORK SUBWAY HOARD
Called the New York Subway Hoard,
this stash of elusive coins was amassed
by George Shaw, a 1940s coin dealer.
Located in New York City, Shaw had Standing
Liberty
many sources for coins, including NYC Quarter
Transit Authority workers. The subway took in many from NY
coins daily, and workers had access to thousands. After Subway Hoard
the hoard purchase in 1996, Littleton’s coin buyers opened the
vault and discovered 1916 Standing Liberty quarters, 1916-D Mercury
dimes, 1896-S Barber quarters, and that was just the beginning.
VERMONT YANKEE HOARD
A. K. Miller and his wife Imogene lived a
life of Yankee frugality in their home in
East Orange, Vermont. Imogene fashioned
raincoats from plastic bags, and A. K. rode
a 1903 bicycle with patched tires.
But when they died, a fortune in cars,
antiques, silver coins, and gold and silver
The Vermont Yankee Hoard was just part ingots was discovered hidden in buildings
of a fortune estimated at $3,000,000.00. and beneath the schoolhouse floor on the
property. In the fall of 1996, Littleton purchased first-year Uncirculated 1878-S
Morgans, seldom-seen $500 and $1000 Federal Reserve Notes, and the rare
Miss Drury token. This became known as the Vermont Yankee Hoard.
MIDWEST MEGAHOARD
Near the end of 1998, Littleton bought the largest coin
hoard ever. Dubbed the Midwest MegaHoard, it held
1.7 million Indian Head cents and Liberty and Buffalo
nickels, weighed 7.6 tons, and would stretch 21.7 miles
if the coins were placed side by side. This stash was
hidden in the walls of a Midwest collector’s house.
Filling canvas sacks and 55-gallon drums, the coins in
this hoard had been off the streets, out of circulation,
since the 1950s & ’60s. According to American Coin
Treasures and Hoards by numismatist Q. David Bowers, David Sundman
with Midwest
the Midwest MegaHoard surpassed prior records MegaHoard bags
by a long shot.
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WELL-KNOWN COLLECTORS
BUDDY EBSEN
During an interview with Paul Green, Buddy Ebsen
told Numismatic News that he became interested in
collecting after buying a coin for a friend.
An admitted history buff, Ebsen told Green that
he was fascinated by the history of coins in his
collection. One of his favorites being a Territorial
gold $50 octagonal slug that had a lot of nicks on [it]. “It’s a long way
from being Mint State, but I associate a story with each one of these
nicks,”… A story about a family shoving off for the West and this is
going to put them in business. And they get attacked by Indians and
the coin is stolen”… “Every one of these nicks I start making up
stories about. So I enjoy this coin, even the heft of the coin.”
(Photo and excerpt from October 13, 2002 issue of Numismatic News with permission from
Krause Publications, Iola, WI 54990)
PENNY MARSHALL
“Film director-actress Penny Marshall, besides having a numismatic
first name, is a coin collector. Marshall said her first name came as a
sop for her brothers, who were saving their pennies for a pony, but
got a baby sister instead.”
(From August 15, 2002 issue of The Sacramento Bee)
(Golden Globe and Tony Awards-winning actor James Earl Jones, in the educational video program,
“Money: History in Your Hands” [American Numismatic Association and Professional Numismatists
Guild, 1995])
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“A PURE COLLECTOR”
He’s made millions from his sports and real
estate empires, but he doesn’t “invest” in
coins... he “collects” them
by Bob Lemke, Editor of Numismatic News
It’s hard to tell why more than 200 people showed
up at a special Saturday afternoon forum during
the Numismatic Association of Southern California
(NASC) convention in Los Angeles.
The lone speaker on the program told the audience,
“From experiences speaking to different groups, I
find that more people are curious about me than
actually want to hear what I have to say.”
In this case, the curiosity may stem from the fact
that Jerry Buss, Ph.D., is the only modern coin
collector to concurrently own the two great
American coin rarities: the 1913 Liberty nickel and
the 1804 silver dollar.
They may have come to hear him because of his Los Angeles Lakers owner Jerry Buss
highly visible ownership of such Los Angeles is also a coin collector.
sports properties as the L.A. Lakers of the National
His mother worked as a waitress to support herself
Basketball Association, the L.A. Kings of the
and infant son. By attending night school, she
National Hockey League, the L.A. Lazers of the
eventually became a bookkeeper. At the time of
major Indoor Soccer League, and the 17,000-seat
her death, she was head bookkeeper for her son’s
Los Angeles Forum sporting arena.
business, supervising 14 people.
In an exclusive interview with Numismatic News
In 1945, at age 12, Buss and his mother moved to a
prior to his appearance at the NASC forum, Buss
small Wyoming mining and sheep ranching town.
revealed himself to be an avid, knowledgeable and
He worked throughout his school years, but
responsible collector, who doesn’t let his fortune get
dropped out of high school because of the need to
in the way of his hobby.
support his family. A sympathetic chemistry
For Jerry Buss is, to use his own words, “a pure teacher urged him to return and Buss realized that
collector.” While he classifies his sports interests on without an education all he could look forward to
the investment side, he calls his stamps and coins was a life of unskilled labor, a small pension and a
“toys... even though they are good investments.” gold watch.
And he does recognize that rare coins are an He earned a scholarship to the University of
excellent investment medium – he just doesn’t Wyoming and an undergraduate degree in just two
think of them that way when it comes to his and a half years. A Ph.D. in chemistry from the
own collection. University of Southern California followed. He
“As a pure collector,” he continued, “I don’t think the helped put himself through school by, among other
ups and downs of the market are at all significant or things, selling tickets at the L.A. Coliseum.
meaningful. You’re fortunate if on occasion you find Later, Buss became friends with the man who
the coins you want and the market is somewhat was responsible for bringing him to the NASC
depressed and you buy it low. But at the same time, convention as a guest speaker, Lee Kuntz. Kuntz
the next one you find will probably find the market was an early investor in Buss’ enterprises (“To this
up and you’ll pay for it. In the stock market they call day I’ve never been sorry,” Kuntz says), and a fellow
it dollar averaging.” coin collector.
For Jerry Buss the good times were long in coming. Buss decided that the assembled collectors might
When he was a year old, his parents were divorced. best identify with how he went from plugging
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“A PURE COLLECTOR”
Lincoln cents into a penny board to ownership of He continued, “My tastes were becoming
the hobby’s greatest treasures. somewhat more expensive, but then at the same
time, I could afford it. In 1967-1970, the years were
Buss began coin collecting as a 10-year-old in Los
becoming more and more lucrative. The million
Angeles. “What I would do – of course all of you
suddenly became two million, which turned into
probably started the same way – was save a certain
four million which turned into ten million, and of
amount of my allowance and once a week I would
course by this time I was acquiring some really
purchase a coin.”
attractive coins.”
Buss said he would pore over the “5¢ apiece” box or
In the mid-1970s, Buss continued, “I had the first
the “10¢ apiece” box. “I religiously spent several
real trauma that any coin collector can ever have.
hours every Saturday selecting that 20¢ item,”
Namely, I was keeping my coins at my house and, of
he said.
course, somebody came in and robbed me of my
“Somewhere in that stage I was first introduced to sack of gold coins.” He said the loss of that $150,000-
the penny board, and like so many novice collectors 200,000 worth of coins “hurts more than anything
really began to get thrilled with the idea that I could I can imagine in the financial sense,” including
find a rare coin in circulation.” some deals in which he has lost $5,000,000. Since
The search paid off. “I hold as close to my heart, I that time, he has kept his collections in several
think, as any part of my collection, the three original bank vaults.
sets – Lincoln Cents, Buffalo Nickels and Mercury With the late 1970s and the unprecedented boom
Dimes – which were taken totally out of circulation. in southern California real estate property values,
They were absolutely completed, all out of Buss saw his personal wealth increase to the
circulation, with the single exception of the 1909-S $100,000,000+ level, and after 35 years was able to
VDB,” Buss said. In fact, he added, he began to realize his dream of owning the 1913 Liberty nickel
doubt that the coin was ever placed into circulation. and 1804 dollar.
During his teenage years in Wyoming, Buss began to While attending a basketball game in the spring of
buy his coins via mail order, answering classified ads 1978 with Ira Goldberg of Superior Stamp and Coin
in the back of Popular Science and Mechanics Gallery, Goldberg mentioned he had a chance to
Illustrated. He was also introduced to the 1913 buy a 1913 Liberty nickel, and asked if he would be
Liberty nickel and the 1804 dollar on the cover of a interested. “I thought about it for maybe 20-30
famous numismatic advertising circular. seconds, and said ‘yes, I would.’” The coin was
Buss then related the story of his beginnings in real his for a reported $200,000, and later that year he
estate investment and told how he became a acquired the Idler specimen 1804 silver dollar
millionaire. “There’s really no magic required to for a similar figure, also through private treaty
become a millionaire,” he said. “What it really from Superior.
requires is hard work, and hard work for a very long “One night after I bought the 1804 dollar,” Buss
time.” His formula states simply, “Get a part-time concluded, “I went back to my old, old collections
job on Saturday and do it for 10 years, taking that and sat down with my original penny board, my
money and investing it at 12%. Wait 15 more years Buffalo nickels and Mercury dimes – the three
and you’re a millionaire.” Buss continued, “If I asked original boards. I’ve never replaced any of the coins
who in this room wanted to be a millionaire, most of in those boards. I took out my first copy of the Red
you would raise your hand. But if I asked at the same Book – totally worn, I must have looked at it a
time, which of you wanted to work Saturdays for the million times. And I still had the old pamphlet of B.
next 25 years, the hands would drop. I’ve been Max Mehl, with the picture of the 1856 Flying Eagle
working Saturdays since I was 16.” cent, the 1913 ‘V’ nickel and the 1804 dollar on the
And that Saturday work finally paid off in 1967, cover; and I took those three coins and sat the
when “for the first time I recognized that I could, in pamphlet right next to them. I sat back and said, ‘My
fact, be considered a millionaire.” boy, you ain’t doing too badly.’”
Reprinted by permission of Numismatic News, a leading weekly periodical serving the numismatic world.
Subscriptions are available by writing to Numismatic News, 700 E. State Street, Iola, WI 54990-0001.
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DAHLONEGA, GEORGIA
1838-1861, “D” mint mark
Another short-lived southern branch
mint that struck only gold coins. It too
was seized in 1861 by the southern forces
and was never re-opened as a mint.
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GERMANY REICHSMARKS
The Third Reich’s largest silver coin was
the German 5 Reichsmarks, struck in 90%
silver. The obverse features the heraldic
eagle of Germany, and the reverse
features the Potsdam Garrison Church.
EURO COLLECTION
Twelve different European nations officially
converted to the Euro in 2002. Each country’s
Euro has a common obverse used by the
member nations, and its own unique reverse.
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Good
Coin will have a fully readable date. The rims will be
nearly full and may be worn down to the tops of the
letters. The design of the coin will be fully outlined.
Very Good
Coin will have a fully defined rim and full legends
with all the lettering and numerals distinct. Some
detail in the design of the coin will begin to show.
Fine
Moderate wear will be evident. The date will be
bold and all letters and legends will be clear. Major
elements in the design will show some separation.
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Very Fine
Approximately two-thirds of the coin’s overall
design will be visible. The date, letters, and major
elements of the design will be sharply defined.
Extra Fine
All elements in the design will be clearly visible.
There may be mint luster evident, especially
around the edges of the design. The high points
of the design will be slightly worn.
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LITTLETON’S STANDARDS
“I would like to tell Littleton that they are the premier coin company in America.
They give you complete and total satisfaction, courteous service, prompt delivery,
and above all the best grading system I have ever seen!
G.C.
Connersville, IN
Our fussiness means that you are guaranteed that every coin you buy has
met rigorous standards, so you get what you pay for and then some! Every
coin that earns the ‘Littleton’ name comes with a 45-Day Money Back
Guarantee of Satisfaction. And our famous, unbeatable, friendly service is
second to none.
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Acid-free glues
won’t harm coins Acid-free
papers to help
PH-neutral coin PVC-free, crystal- preserve coins
Littleton’s sturdy albums board, safe and clear slides won’t
feature 3-ring binder warp-free yellow
construction so pages lie
flat for easy viewing Heavy-duty construction for long-term protection
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