| Part three of this series is a combination of coin | | | | numismatimists everywhere. However, the four |
| and metal detecting items that should assist you | | | | key factors in determining value and investment |
| in building your coin collections. I am amazed by | | | | potential are rarity, quality, supply and demand. |
| the mistakes that I have made as a collector or | | | | When coins are judged according to these |
| witnessed others doing in the name of purchasing | | | | standards, gold is not all that glitters. As a |
| or procuring numismatic items. | | | | collector, our decision to invest should not be |
| Myth #1: You should always buy the highest | | | | made in relation to a coin's metallic composition or |
| grade coin you can afford. | | | | its intrinsic value. |
| This myth has been around about as long as dirt | | | | Myth #4: Toned silver coins are worth less |
| and is very convincing. Sometimes it is actually | | | | money. |
| good advice, for high grade coins usually | | | | Some self-acclaimed experts have perpetrated |
| outperform lower grades. The problem with this | | | | the myth that natural toned silvered coins are in |
| myth is the word always. Th word always should | | | | essence damaged goods. This is neither true and, |
| only be used in terms of making sure you get | | | | in fact, is very misleading to collectors. The |
| your money's worth. Values of specific coin items | | | | beautiful natural toning that takes place over a |
| are not always stable. Proof 63 coins in recent | | | | long period of time will work to protect the coins' |
| years have been very stable in performance | | | | surfaces as well as enhancing its value to |
| whereas Proof 67 and 68 grades have been on a | | | | knowledgeable collectors. |
| roller-coaster performance in this same time | | | | Myth #5: Metal detector coin finds are worth less |
| period. | | | | money than coins found in normal circulation. |
| This myth also has a negative effect on | | | | This myth came into existence as a buyer ploy |
| youngsters in the hobby who may have a limited | | | | to get the seller's coins for substantially less |
| budget. Tell them to spend their money on one or | | | | money than their coin market value or worth. I |
| two high grade coins when they can fill many | | | | recently took several coins to a major coin show |
| holes in their collection by buying less pricey lower | | | | that were dug finds. My purpose was to see if a |
| grades is a mistake. Many will get discouraged and | | | | dealer, without knowledge that I had used a metal |
| drop out if they have too little activity and their | | | | detector to find the coin, would make me a fair |
| collections are growing too slowly. | | | | offer for it. One coin was a pristine half dollar that |
| Myth #2: Slabs used to house certified coins are | | | | I graded at MS 60-61 and believed to be worth |
| vacuum-sealed and contain no air. | | | | about $300. Two dealers looked at it and both |
| This is a very common error. Certification | | | | graded it at a high AU level and made offers of |
| services sonically seal the coins. They do contain | | | | $250 and $270. That falls well within my standard |
| air, but are air tight, not allowing in any air from | | | | of 60-75% of value in selling a coin to a dealer. I |
| the environment in which they are stored. In | | | | also offered a silver dollar on ebay, that two |
| essence the sealing is done by high-pitched sounds | | | | other dealers at that show said was only worth |
| used to convert energy into heat that fuses | | | | $18-20. The final bid on that cartwheel was over |
| together the two hard plastic holder pieces. | | | | $30.00. While these are only two very recent |
| Vacuum-sealing wouldn't be practical because it | | | | examples, I have actually found, time and time |
| would require pressing the plastic right up against | | | | again, that there is a mystique on ebay for metal |
| the coin and thus damaging it. | | | | detector finds that frequently bring higher than |
| Myth #3: Gold is always a better investment than | | | | normal prices. This could be a fad taking place but |
| silver, nickel or copper coins. | | | | it is good for us treasure finders. Here's to "diggin |
| Gold glitters, is glamourous and its high intrinsic | | | | It"! |
| value makes it extremely appealing to | | | | |