Grading Coins - What is different about a Mint State 60 and a Mint State 65?
Coins Outlook for 2009 - Key coins to keep your eyes on
Review by aucpro on 2006-02-27 18:08:46:
Bullion - Gold, Silver, and other metals
The term Bullion can be confusing. In the strictest sense,
bullion is hallmarked and or assayed precious metal. Bullion is
usually offered in the form of bars, rounds, or coins and is produced
by both private and government mints. The value of bullion items
can normally be correlated to the weight and price per ounce that the
metal is trading. Bullion items are normally 999 or 9999 fine in
purity. Hallmarks can be on the obverse, reverse, or edge of a coin or medal.
Over the years, many countries have entered the bullion market and
introduced their version of bullion coins. The United States
American Eagle coin is a great example of a bullion item that also has a
face value. Although contradictory to the term bullion, many
American Eagles now sell for well over their bullion value. One
example, is the 1995 West
point proof dollar which now trades for thousands on eBay, but only
contains one ounce of Silver. The 1995W realizes such a price because of
its popularity and rarity. Many other American Eagles, both raw
and certified, have premiums well above their bullion value.
The U.S. Goverment/IRS also favors American Eagle bullion products in certain transactions. Other countries produce bullion coins, such as, the Canadian Maple Leaf
and the China Panda.
Another recent example is the 2008-W (West Point) made reverse of 2007, Unc Silver Eagle. With a quoted mintage of under 50,000, this makes it the second rarest of all Silver Eagles. In late 2008, it traded on eBay for around $500. Look for this coin to increase in value over the next few years.
Other issues grouped as bullion items are metals produced by private
mints, 90 percent US Coins, and other coins that trade at bullion
prices.
Eisenhower, the allied forces WWII commander in the European theater
and later President of the United States, is proudly featured on this
last of the large U.S. circulating coins. The complete Eisenhower
set is a great starter set for most collectors because it is
attainable with a modest budget and can still be challenging to
complete in high grade. Because of its low relief and large
heavy size, it is almost impossible to find perfect examples of
business struck coins. High grade business strikes tend to be
expensive.
In 1971 the U.S. Government issued special Brown Ike which contained a
40 percent Silver Proof example of the coin. It was termed a
Brown Ike because this government-sealed coin was packaged in a brown
box. Also issued were Blue Ikes, which were the 40 percent Silver
Unc example. Each coin was sealed in clear plastic and placed in
a blue envelope. Both Brown and Blue Ikes were produced from 1971
to 1974 in San Francisco. The 1973-S Brown Ike remains a key coin
for the set with a mintage of around 1 million. Eisenhower
Dollars were produced from 1971 to 1978.
NGC certifies Blue and Brown Ikes while still in their original holder. This set is still very affordable and highly recommended.
U.S. Mint Satin vs. Business Strike Coins 2005 Present
Starting in 2005 the U.S. Mint started minting coins for the United States Mint Uncirculated Set with a satin finish instead of the business strike finish. What is the difference between Satin and Business strike coins?
It is really a matter of how the U.S. Mint processes the blanks used in production. The blanks used for business strike production are processed with different types of material vs. those used to mint Satin coins. Overall there are countless ways to produce blanks for minting. The exact process the U.S. Mint is using is secret. I realize this is a very brief explanation. What is important to remember is that starting in 2005 everyone who is collecting modern coins will now need a business strike, satin, and proof example to complete their collection. If you found this guide helpful, please rate it positive. By Troy Thoreson, aucpro
Traditional coin grading is based on a point system developed by Dr.
William Sheldon over 60 years ago. Since a major component of a coins value is equal
to its grade, knowing how to grade is critical when making a coin
purchase. Today, some individuals and grading/certification
companies differ in their objective standards used to grade any one
coin. The infinite combination of surface preservation, luster,
toning, circulation wear, friction, strike, damage (if any), and
overall beauty as seen by the eye of the beholder, all have to taken
into account to determine a grade, therefore it is easy to see why opinions vary. It can take years to become a grading
expert.
Things to remember when it comes to grading. 1). Grading is subjective. 2). If buying expensive or key coins, buy only certified coins. Which certified coins? Again, opinions will vary, for my money I stick with PCGS, NGC, and ANACS graded coins. Note that even if certified, dealers will trade coins at different levels depending on the coin and the certification company. 3). Be conservative. If purchasing for investment, seek expert help, especially if you are a new to the hobby. If you are new to coin collecting and buy raw coins (uncertified coins) you will most likely overpay. 4). If inexperienced, DO NOT BUY KEY Coins that are not certified, especially 1909S VDB, 1914D, and 1922 Die Die 2 Plain Cents, plus 1916D Mercury Dimes and any other major key. Also avoid Pre-1878 Dollars unless certified. 5). Purchase the ANA guide to grading coins. For more great references, read published grading books by PCGS, NGC, and Photograde. 6). Expect to earn your tuition when purchasing raw coins and sending them off to get graded....
