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just carl View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote just carl Quote  Post ReplyReply Direct Link To This Post Posted: 03 Nov 2006 at 1:32pm
OK now here is one I don't know why and when I hear some reason it is just to hard to believe. We have so many coins in our monitary system with over dates. Example is the 42/41 or 42D/41 Merc Dime. Or 1918/17 Buffalo Nickel. There are numerous others and more being discovered all the time. Why would the Mint do that? Why not just not make coins that year? Why would anyone spend the time aligning a Dime to put a new date on it? How can anyone put a value on such a coin when there is no record of the quantity Minted? Has the Mint ever admitted doing this and for what reason?
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silverhawk View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote silverhawk Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 12:27am
Why was the motto left off of some St Gauden's?
President Theodore Roosevelt was personally involved in the redesign of American coinage, and wanted our coinage to have the beauty of classic Greek coins, etc. He personally objected to the motto being included, as he thought that it bordered on sacreligious and people care for it anyway. In addition (my opinion), he may have also wanted a more pure design with fewer words.

What is wire rim on a coin?
The thin, knife-like projection seen on some rims created when metal flows between the collar and the dies. Also, slang for the Wire Edge Indian Head eagle of 1907.

 
What is high relief?
Any coin that is designed with extra high and low spots in the design to produce more of a 3D effect. The most famous are the high relief and ultra high relief St Gaudens $20 gold coins. The 1921 peace dollar had a somewhat high relief as well. It was changed in 1922 to allow for better striking and stacking. High relief coins are harder to strike, and can take several impressions to achieve the effect.

 
What is a TOP POP coin?
Also known as POP TOP, this is a coin that is at the top of the population charts for known graded samples. So let's say that the highest graded known coin for a series is MS66 (like a large cent or something). That coin is a Pop top, no know samples graded higher. These are premium coins and usually command significant money, if the series is rare.
 
Why will no one give me a St Gauden's any condition?
The gold content keeps even AG coins high priced and people typically hoard money. But, about once a year Heritage or other coin companies hold drawings for St Gaudens $20 Double Eagles, so SIGN UP!
 
When money is completly out of use and circulation will we still collect coin's or collect old credit card's?
I think that people will collect both and coins will go much higher in value.
 
 


Edited by silverhawk - 04 Nov 2006 at 12:28am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote silverhawk Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 12:47am
Govt-mint- collector or investor-grading comp.-auction house-insurance-coinmarket-currency-Govt.  when a mint relaese a coin for sale for collector and investor they buy it more or less their face value,  then a coll. or invst. find an error more than thier face value then graded more tha again there face value. then the govt. tax the comp. then the coll. sold the coin to the auction house both tax by the govt. again. the coin in transit insured and the govt tax the insurane company. then the collector insured the coin at home tax again. for that piece of metal that is insured already a monetary value of its own,
 
what is the real price of the coin specailly the highly collectable and expensive and slab?
 
The government issues coins with a face value (like $10), because if it is a true government issue it MUST be monetized (usable as money) and what we call "legal tender". This means the coin is backed by our government. In the old  days the goverment used to make the metal value (or bullion value) of the coin close to the monetized value. What they found was that when the bullion value (gold silver copper) went over the face value, people melted the coins for the gold silver etc. So NOW the government makes coins with MUCH LESS precious metal value than the face value. And guess what? The government gets to KEEP the profits from doing this. This is called Seigniorage. If some of these terms don't make sense please look them up for additional clarity. So now we have commemorative coins that may cost $15 to make but the goverment sells them for $33. The coin has a face value of $1 as an example.
 
Most collectible coins have a market value based on their rarity and desirability NOT the face value or previous metal content.  Many people use the Greysheet to track this value (or Coin Values from CoinWorld).
 
It is just a metal or it is already a currency of the state of its own for all the process it went through?
 
Coins have a face value that the government backs, usually much less than the actual value. Coins also have a precious metal value. This value fluctuates with the price of silver gold, etc. AND coins have collectible value.
 
Also for raw coins highly collectible and expensive but not insured and slab what is thier value?
 
Insurance is a good idea, but does not effect value. Most people use www.greysheet.com to track coin values.
 
 
And for coin raw and slab both expensive and insured what is thier value are they a currency or just a piece of metal?
 
A slabbed coin may have additional value for several reasons: It has a certified grade or quality (if the slab company is good), it cost money to slab it, the slab authenticates the coin (if the grading conpany is good), and for the best graing companies: the grade may be proven rare.
 
Some respected grading companies: PCGS, NGC, ANACS, ICG.
 
What happen hypothetical. very few people buy or collect coin what happen to the insured and slab coins with high value.?
 
If many fewer people buy coins, coin prices should go down. However, truly rare coins may not because the owners of these coins presumably have money and KNOW what they have is rare.  So common coins would tend to drop but not truly rare coins.


Edited by silverhawk - 04 Nov 2006 at 12:51am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote silverhawk Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 12:56am
Originally posted by just carl just carl wrote:

OK now here is one I don't know why and when I hear some reason it is just to hard to believe. We have so many coins in our monitary system with over dates. Example is the 42/41 or 42D/41 Merc Dime. Or 1918/17 Buffalo Nickel. There are numerous others and more being discovered all the time. Why would the Mint do that? Why not just not make coins that year? Why would anyone spend the time aligning a Dime to put a new date on it? How can anyone put a value on such a coin when there is no record of the quantity Minted? Has the Mint ever admitted doing this and for what reason?
 
There were no strict rules over quality controls, and expediency ruled the day. Die making and hub making was much more manual.
 
From PCGS.com

In the early days dies were cut by hand. By means of an engraving tool the die cutter would create the figure of Miss Liberty, an eagle, or other motif. Letters and numerals would be added to the die individually by means of punches. Certain other punches were used for elements as leaves and berries. Each die was slightly different from all others. The collecting of coins made by different dies is a fascinating pursuit. Sometimes a die would last long enough to make tens of thousands of coins before it broke, and thus coins from such a die are easy to find today. In other instances a die would break shortly after it was first used, only a few pieces would be struck from it, and today that particular die variety is rare.

Beginning about the year 1836 the preparation of dies was mechanized, and the lettering, eagle, figure of Miss Liberty, and everything else but the date was stamped on the die from a master die or hub. The date figures were then added individually. Soon thereafter, logotypes consisting of an entire date, such as 1898, were made, and the date was then punched in all at once, rather than individual date punches. Still later, the date was included in the master die, and all working dies were stamped with all information on them -including the date, design, and lettering. That is the way dies are produced today. Consequently, there are relatively few die variety differences among modern coins.

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Amanda View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Amanda Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 2:47am
Originally posted by just carl just carl wrote:

OK now here is one I don't know why and when I hear some reason it is just to hard to believe. We have so many coins in our monitary system with over dates. Example is the 42/41 or 42D/41 Merc Dime. Or 1918/17 Buffalo Nickel. There are numerous others and more being discovered all the time. Why would the Mint do that? Why not just not make coins that year? Why would anyone spend the time aligning a Dime to put a new date on it? How can anyone put a value on such a coin when there is no record of the quantity Minted? Has the Mint ever admitted doing this and for what reason?


With regards to the 1918/17 D buffalo nickel (and SLQ), these dies were being made in 1917 by new employees. Many young men had gone off to Europe to go fight in the war and the Philadelphia mint was understaffed and so was unable to properly train the new help. The dies for 1917 were being made quickly along with dies for 1918 in anticipation of future steel shortages. During the annealing process, one die for 1917 was overpunched with a 1918 date. This was then shipped to Denver where it was put into use.

There was a great coin shortage during this time, so the mint was working feverishly to meet current and expected demands.

I hope this helps.

-Amanda


Edited by Amanda - 04 Nov 2006 at 2:50am
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josie View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote josie Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 3:41am

THANK YOU SILVERHAWK and for the new info.

 

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coldshot View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote coldshot Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 4:28am
NNC has a process to preserve coin's before they are graded and slabbed. What does this process consist of?
 
[Editors note: NCS is a conservation service, NNC is a lesser known grading service]


Edited by silverhawk - 04 Nov 2006 at 12:45pm
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GDJMSP View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote GDJMSP Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 7:32am
Originally posted by just carl just carl wrote:

OK now here is one I don't know why and when I hear some reason it is just to hard to believe. We have so many coins in our monitary system with over dates. Example is the 42/41 or 42D/41 Merc Dime. Or 1918/17 Buffalo Nickel. There are numerous others and more being discovered all the time. Why would the Mint do that? Why not just not make coins that year? Why would anyone spend the time aligning a Dime to put a new date on it? How can anyone put a value on such a coin when there is no record of the quantity Minted? Has the Mint ever admitted doing this and for what reason?
 
 
Yes the mint has admitted it and has also provided the explanation, it's quite simple really - to save money.
 
The quote Silver Hawk provided explains how the dies were made. But at the end of a year, if some of those dies that were already made were left over the mint did not want to just throw them away and make new ones. So they would take a date punch with the new date on it - punch the new date into the die right over top of the old date - and thus we have an overdate coin.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote silverhawk Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 8:37am
Originally posted by coldshot coldshot wrote:

NNC has a process to preserve coin's before they are graded and slabbed. What does this process consist of?
 
Do you mean NCS?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote coldshot Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 12:25pm
yes it is the name. sorry

Edited by coldshot - 04 Nov 2006 at 12:26pm
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coin crazy!! View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote coin crazy!! Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 12:28pm
okay,how about the first mint estibalished?Or what year?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote silverhawk Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 12:34pm
Originally posted by coin crazy!! coin crazy!! wrote:

okay,how about the first mint estibalished?Or what year?
 
History of the Mint
"The Congress shall have the Power . . . To Coin Money."
(Constitution of the United States, Article I, Section 8.)

When the framers of the U.S. Constitution created a new government for their untried Republic, they realized the critical need for a respected monetary system. Soon after the Constitution's ratification, Secretary of the Treasury Alexander Hamilton personally prepared plans for a national Mint. On April 2, 1792, Congress passed The Coinage Act, which created the Mint and authorized construction of a Mint building in the nation's capitol, Philadelphia. This was the first federal building erected under the Constitution.

David%20Rittenhouse%20Portrait
David Rittenhouse
First Director of the
United States Mint

President George Washington appointed Philadelphian David Rittenhouse, a leading American scientist, as the first Director of the Mint. Under Rittenhouse, the Mint produced its first circulating coins -- 11,178 copper cents, which were delivered in March 1793. Soon after, the Mint began issuing gold and silver coins as well. President Washington, who lived only a few blocks from the new Mint, is believed to have donated some of his own silver for minting.

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coin crazy!! View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote coin crazy!! Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 12:40pm
wow,that is great information.Okay here another:what person is on the indian penny?And also who was the engraver and maker?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote silverhawk Quote  Post ReplyReply Direct Link To This Post Posted: 04 Nov 2006 at 12:44pm
Originally posted by coldshot coldshot wrote:

NNC has a process to preserve coin's before they are graded and slabbed. What does this process consist of?
 
[Editors note: NCS is aconservation service, NNC is a lesser knowngrading service]
 
NCS (ncscoin.com) is a numismatic coin conservation service that utilizes a number of preservation and restoration techniques for problem coins. Many positive results can be experienced, although outcomes are not guaranteed. Primary means are controlled use of chemicals.
 
 
Many chemicals are EXTREMELY harsh.
 
People do clean their own coins at home, but inexperienced people can hurt themselves or damage the coins. Care is required.
 
 


Edited by silverhawk - 04 Nov 2006 at 12:46pm
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