Special issue coins typically are made for collectors and have their own designations, devices and mintmarks. Ones featured here are readily available. Some hobbyists collect all of them.
1996-W Roosevelt Dime
One of the most popular special issues is the 1996-W Roosevelt dime, marking the half-century of the design. This was the first base metal coin struck at the West Point mint.
The 1996-W Roosevelt dime is the lowest-mintage business-strike coin in the series (1,457,949). The next lowest was the 1955 dime (12,450,000).
Unlike other business strikes, the coin was not released into circulation. It was a bonus coin included in that year’s U.S. Mint Uncirculated Coin Sets.
It is the only business strike dime carry the W mint mark for West Point.
PCGS recounts the trouble that the Mint had in adding the W mintmark. For the occasion, engraver John Mercanti was asked to hand-punch the mintmark into the die directly. But the steel die was not properly prepared (heated) so the force of the punch made it mushroom. It could not be used. Another engraver had to create an entire new dime model, carving the mintmark directly into the master plaster. This is why the mintmark looks different than on ones used for other W mintmark issues.
If you want to buy or bid on this dime, make sure that it has full bands. PCGS estimates it has holdered some 6,700 dimes that are not full bands compared with 4,500 that have them.
An MS68FB retails for about $60; in MS69FB, about $260.
2019-W Lincoln Cent
The 2019-W cent was produced to celebrate the 110th anniversary of the Lincoln cent. PCGS lists three finishes for the dime, released as a bonus in these sets:
Proof finish: Included with the standard 2019 Proof Set.
Reverse Proof finish: Included with the 2019 Silver Proof Set.
Uncirculated finish: Included with the 2019 Uncirculated Mint Set.
As with all coins manufactured for collectors, the overwhelming number of coins will be uncirculated still and not worth much unless in extremely high grades. Examples of the business strike in MS69 are worth about $30 whereas an MS70 retails for about $350.
2020-W Jefferson Nickel
This was the first U.S. nickel to bear a “W” mintmark. The regular nickel came inside the 2020 Mint Proof Set. A 2020-W Jefferson Nickel in a Reverse Proof format came inside the 2020 Silver Proof Set.
The Mint planned to make a 2020-W nickel with an uncirculated finish to be included in the 2020 Uncirculated Coin Set. The COVID-19 illness limited production, however, and the issue was canceled.
The 2020-W Proof Nickel had a mintage of 464,039; the 2020-W Reverse Proof Nickel, 313,185. These typically retail online for $35 in PR69 and $80 in PR70.
2015-W March of Dimes
The 2015-W March of Dimes Proof Silver Dime and the 2015-P March of Dimes Reverse Proof Silver Dime also were special release issues. They were available only when collectors bought the 2015 March of Dimes Special Silver Set.
2015-W Proof Silver Dime was the first ever silver proof Roosevelt dime to carry the “W” mint mark and also the first non-dollar denomination coin to ever be produced with a reverse proof finish.
The set was limited to 75,000 units. As such, both silver dimes are some of the scarcest in the Roosevelt series.
Depending on the price of silver, the 3-Coin Set typically sells for about $200.
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When looking through my great grandfather’s coin collection I discovered several medals. For those who are not familiar with me or my previous articles, my great grandfather was a bartender in Brooklyn, NY, around 1900. At that time, Ellis Island was admitting people from all over the world, and thus, he took payment of different currencies. I’m sure he also traded and perhaps purchased items that led to a vast collection containing hundreds of coins and medals which hold stories of the past.
First, let’s address what is a medal. We know from winning a contest in school or watching the Olympics that medals can show achievement. We understand today that a gold medal is the most important, then silver and bronze (due to metal value). We know medals have been made throughout history as recognition, often depicting a person or event and can be minted for one person or for the masses. We see this today in the US mint where medals are sold to commemorate the 250th Anniversary of the United States of America.
Medals belong to the genre Exonumia, with medals serving as a major category of this classification. Medals fall into these subcategories: military medals, commemorative medals, souvenir medallions, and, at times, challenge coins.
They can also be contemporary and express social concerns. One of the top medal artists is sculptor Heidi Wastweet who also has served in the Citizens Coinage Advisory Committee of the U.S. Mint. Here is one of her popular medals, “Abbreviated Liberty,” about the power of free speech and the muzzling thereof. Proxiblog publisher Michael Bugeja has the 1st of 40 strikes.
But what about historic medals? Why are they so special? First, expert engravers were needed to work by hand, and perfection was necessary. Second, as Betts notes “medals are original documents in metal.” They are story tellers and tangible connections to the past. They are art, but unlike a historic painting or sculpture in its original form, medals can be reproduced, although die deterioration (having been struck several times) will cause the quality of later medals to diminish. Some medals were only struck once, or a few times, so let’s talk about mine.
I came across this large 67mm, well struck bronze medal that captivated me with its beautiful details and size. After finding out (through the internet) that this was from the Netherlands, I found information was scarce. That is until I found a picture of my medal in gold on the website of Massachusetts Historical Society located in Boston. The website states “This gold medal was presented by the States-General of the United Provinces of Holland to John Adams upon his departure as minister on 6 March 1788. Adams was the first envoy to Holland from the United States. This medal is believed to be the only known 18th century diplomatic medal presented to a United States minister.”
As I examined the pictures, I could see the same engravers mark on my medal.
John Adams’ Gold Medal
Collection of The Massachusetts Historical Society
I eagerly contacted the Historical Society by phone and explained what I had. To my surprise, Susanna from MHS Library Reader Services, said they were interested in the history of mine, as they were identical apart from the metal. I was asked to send an email the details of my medal with pictures. I was delighted to get a response within a week from the Curator of Art & Artifacts, Anne, with information on the engraver and manufacturer, as well as other interesting articles and John Quincy Adams journal entries.
Details and Engraver
The medal’s engraver, Nicolaas van Swinderen, was born in November 1705 in The Hague. His work began in 1720 as a prominent engraver and medalist. He lived on The Lutherse Burgwal (Lutheran Canal/Street) in The Hague, specializing in engraving and cutting dies. His works were often struck in the workshops of other medalists.
Over one hundred of his medals are on display in the Rijksmusum, the Teylers museum, and in the Metropolitan Museum of Art. Although there are several medals like mine (and Adams), I could not find another identical. It is unknown when and who this medal was originally made for, however, you will see that his medal dies remained active even after his death in 1760. The Commemorative Medal given to John Adams was struck using dies from van Swinderen in 1788 by Willen de Koning, a manufacturing jeweler, as Swinderen had passed away 28 years earlier.
Details:
Size: 67 mm
The obverse shows the arms and supporters of the United Provinces (lion wild with sword in shield, surmounted by crown) with the motto, “CONCORDIA RES PARVÆ CRESCUNT”. This translates: “By concord small things increase” and signed “N VS” above PARVÆ.
The reverse depicts the arms of the House of Orange-Nassau, surrounded by seven provinces, entwined with leaves and orange fruit. The motto, “DISCORDIA MAXIMÆ DILABUNTUR” translates to “By discord great things are destroyed”.
Edge: Plain, raised with integral suspension loop. Assay stamp on loop (Betts)
John Adams
(americanacorner.com)
John Adams retired from 2nd Continental Congress in November 1777 and soon went overseas. After spending time in Britain and France, Adams sought American Diplomacy in the Netherlands to secure recognition of American independence. Adams also had the job of obtaining a loan which would provide much needed assistance to the financially strapped colonies and help establish credit for the young nation.
During the 1700’s the Dutch Republic had internal political stress, but it maintained peace. The Stadholder (Dutch: Hoog-Mogenden) referred to the States-General of the United Netherlands. The Princes of Orange held this office and were referred to as “their Mighty Mightiness”. The Hague served as administrative seat of government for the Dutch Republic. Until 1810, when Amsterdam officially became capital. (Britanica)
On October 8, 1782, Adams and Dutch representatives successfully concluded the Dutch American Treaty of Amity and Commerce, primarily dealing with trade, shipping, and other commercial ventures. Adams had also made a successful application for a three-million-guilder (Dutch currency) loan. This would help fund the American Revolution.
In 1787 Adams requested to close his commission and return to America. The president of the assembly (De Wassenaar Caywyke) brought this to their High Mightiness (William V) who granted this resolution. The following is an excerpt from an account regarding the medal:
Whereupon, it having been considered, it seemed good, and was hereby ordered, that leave be taken of the said Mr. Adams, at the same time declaring that his person and conduct have been agreeable to their High Mightiness, and that the usual present of a chain and medal of gold, of the value of thirteen hundred florins, be transmitted to him; the jeweler de Koning having it in charge to prepare the same forthwith.
Passing Down Adams Medal – John Quincy Adams Diary Entries
John Quincy Adams, the son of John Adams, had quite an extensive collection of diaries. The following are excerpts regarding John Adams passing his medal down to his grandson:
27 Sept. 1819: [My father (President John Adams) called me and my son John, who was going away, into his bedchamber,] and gave him a gold medal and chain, which at the close of his Mission to the Netherlands was presented to him by the then existing States-General. My father told my son John, and directed me to remember and witness that he gave him this, rather than his gold-watch, which was a trinket, for the sake of his name; because it was John Adams; and that it should be disposed of for his benefit according to my directions.
Oct. 1819: I told John what I proposed to do with the medal and chain given him by his grandfather. Which is to keep the medal as a memorial of the giver, and to send the chain to the Mint, and have its proceeds vested in Stocks yielding interest, till he shall come of age: with this arrangement, John said he should be satisfied.
In Conclusion
Historical coins, tokens, and medals are fascinating in the history they hold and stories they tell. Although I will never know for whom my bronze medal was struck or where it came from, it led me down a path to history. I certainty did not expect that my research would lead to John Adams and his family, who had a tremendous impact on Early America. I found working with The Massachusetts Historical Society to be a wonderful experience. I will continue to dig further into this medal because I would love to know the origin.
References
“#7 Johnny Goes Dutch.” Hollandsociety.org, 2024, hollandsociety.org/2024/01/7-johnny-goes-dutch/.
“Adams Papers Digital Edition – Massachusetts Historical Society.” Masshist.org, www.masshist.org/publications/adamspapers/index.php/volume/PJA16/pageid/PJA16p265.
Betts, Charles Wyllys. American Colonial History Illustrated by Contemporary Medals. New York: Scott Stamp and Coin, 1894, pp. 275–276.
C.F.A.; Ed. The Works of John Adams. Vol. VIII, Boston, Mass, Little Brown and Co., 1853, pp. 482–483.
Proxiblog has published articles about each of these altered coins. This is a roundup with markers and links. Read the summary and then, for more knowledge, access the article.
1909-S V.D.B. Lincoln Cent
The “S” is added to common 1909 Philadelphia cents. This is the No. 1 faked coin.
We need some background on why this coin is valuable and how decisions by the US Mint created opportunities for counterfeiters.
Secretary of the Treasury Franklin MacVeagh disliked the prominence of Victor David Brenner’s initials on the reverse and stopped production in August of that year, removing initials entirely on the remaining 1909 and 1909-S cents. That is why you only find the initials on some 1909 and 1909-S examples. In fact, those initials did not appear again until 1918 when the VDB appears below Lincoln’s shoulders. That’s how angry MacVeagh was. But he wasn’t thinking about counterfeits at the time even though his actions inadvertently made altered dates easy.
Scammers realized they stood to make big profits merely by adding:
An “S” to a 1909 VDB cent. VDB to a 1909-S cent. An “S” and “V.D.B” to a 1909 cent.
Now compare mintmarks with a genuine, added mintmark and cast replica mintmark:
1916-D Mercury Dime
Scammers add a “D” mint mark to a 1916 Philadelphia dime. It is one of the second frequently faked coins, after the 1909-S VDB. You can also find them in fake PCGS and NGC holders. There are replicas, too. And more.
Learn about all the ways scammers are altering or faking this rarity. See: “Deceptive 1916-D Dimes” by counterfeit expert Jack D. Young.
Excerpt:
As Jack always says when reviewing a subject coin, ATTRIBUTION is the key! And with help from a few friends he pulled this template together of the 4 known reverses/mint-mark positions and shapes for use in evaluation of the 1916-D. He also has added this fake example in the middle of the template for a good comparison of good versus bad.
Template of four good mintmark positions and bad one in the middle.
Jack is one of the top counterfeit detectives in the country. Read the aforementioned article to become familiar with his methods.
1914-D Lincoln Cent
Scammers alter 1944-D cents, shaving down the first “4” to make it look like a “1.”
The most counterfeited coin is the 1909-S VDB; but the 1914-D Lincoln Cent actually has a smaller surviving population. This makes the 1914-D a prime target for counterfeiters.
Look for a large gap between the “9” and the second “1” in date. 1944-D cents are commonly altered to appear as 1914-D cents, but this leaves too much space between the first two digits and the last two digits.
See this example from NGC:
You can also find telltale markers on genuine coins in the aforementioned article.
1932-D and 1932-S Washington Quarters
Common 1932 quarters are altered with an added “D” or “S” mintmark.
The 1932-D Quarter (436,800 minted) and 1932-S Quarter (408,000, lowest mintage in the series) are a coveted pair for collectors. The 1932 Philadelphia Quarter has a mintage of 5,404,000 with no mintmark, of course, on the reverse, making it a target for added mintmark fakes.
You can see how scammers add the mintmark as well as become familiar with die markers.
Except:
The most obvious die marker for a genuine coin concerns the filled mint mark (“D”) with visible serifs and bloated appearance, even in uncirculated grade.
Here’s how the mintmark looks in more common circulated grades (note you can see still serifs).
You should also look for die cracks on the reverse, especially near the eagle’s left wing or the motto “PLURIBUS.” Many but not all display this.
Go to the article to see the 1932-S die markers.
1943 P/D/S Copper Cent
Steel cents from this year are often copper-plated or the date is altered on a 1948 or 1949 cent.
You’ll also find replicas on Temu and Etsy shopping sites.
Approximately 40 copper-alloy cents were accidentally minted across all three U.S. Mints (Philadelphia, Denver, San Francisco) in 1943. The 1943-D is the rarest (1 known), while 1943-S (San Francisco) is exceptionally rare (fewer than 5 known). Some 20+ 1943 cents are said to exist.
A magnet. If the coin sticks to it, it isn’t copper.
A coin scale to see if your specimen weighs 3.1 grams. (Steel cents weigh 2.7 grams.)
A lupe to view the date and to detect if it has been altered.
Here’s an example of a 1948 cent altered to look like a 1943 copper cent weighing 3.1 grams and passes the magnet test:
Go the article to see the die markers of each copper cent. You’ll also learn to identify replicas.
1989-CC Morgan
Fortunately, the 1889-CC Morgan dollar has only three known major die varieties (VAMs), each with specific die markers. This makes it easier than other dates with more markers when identifying counterfeits.
The most common practice is to add a CC to the common 1889 Philadelphia Morgan. That is why knowing the die markers for authentic coins is so important.
A mere 350,000 coins in 1889 were struck at the Carson City Mint, and hundreds of thousands of those were melted after 1918 due to the Pittman Act. This makes it a nifty target for criminals. Moreover, the common date 1889 Philadelphia is used for an added mintmark. Here is an example from NGC:
Right off the bat, veteran hobbyists know that the mintmark used in the above example is the wrong one for an 1889-CC dollar. Scammers typically take the “CC” from a lesser value 1878-CC dollar.
Let’s start there by showing the mintmark of an 1878-CC and 1889-CC Morgan:
The aforementioned article also discusses the VAMs of genuine 1889-CC Morgans. You will want to know those, too.
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You can find more information about errors and varieties as well as buying and bidding on coins in Coin News Updated: The Essential Guide to Online Bidding. Please consider purchasing the work for yourself or a friend, as it underwrites this hobbyist website. Thank you.
Have you noticed that people, often from different countries, hijack Facebook coin group posts and show their own coins rather than commenting or answering questions? Here’s an example:
The above hijackers were responding to this post:
To many, this is just a nuisance.But it also can be hazardous as many such posters have malicious intentions including scamming you, phishing your email or Facebook site, and worse–algorithmic manipulation.
Let’s define that: Algorithmic manipulation is the intentional use of computer data to exploit your vulnerabilities or pull information from and about you, often via a bot or program to scrape data.
They also might appear on a FB post that solicits lots of comments–like the post above about the 1982-D Small Date Cent.
These scammers might have stolen or fake accounts. They hijack posts and show coins that they do not own, trying to get you to engage them about buying. Or they just might want your personal data for some other spurious reason.
Some cannot get a legitimate FB account and so use “likes” or engagement as a ruse to operate without being blocked.
If you are the target of a scammer, file a report with the group moderator. Many people do not know how to do this. Here’s a video about this with easy instructions:
You can also use Facebook’s contact form to report impostor.
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Proxiblog wishes to thank the thousands of subscribers, followers and Facebook and YouTube coin group members for helping our site reach a half million hits in the past six months. A special thanks to our writers Jack Young, Jack Riley, Susan Blumlein Amodeo and John Lorenzo as well as Facebook coin group moderators who welcome our articles and posts.
Everyday on Facebook coin groups, Reddit and eBay, dryer and spooned coins appear with their owners believing they have found valuable errors. Let’s look closely at both examples of post mint damage in this article so you can identify what you have if you found examples in pocket change (literally) and rolls.
Also, this article showcases examples of sellers claiming dryer and spooned coins are valuable errors. They are not. They have no collector value.
Dryer Coin
A coin left in a home dryer or, more probably, a commercial dryer at a laundromat is known in numismatics as a “dryer coin,” dramatically changing dimensions so that it appears vastly different than the denomination.
The coin typically remains in a person’s pocket after being washed and tumbled and then falls out of the clothing and is exposed to high heat in a dryer. Sometimes it falls into the gap between the rotating inner drum and the stationary outer frame of a commercial dryer where it suffers even more damage due to grinding, friction and heat.
If you put the phrase “dryer coin” into a search engine, you get dozens of examples on Facebook and Reddit.
Dryer coins undergo these transformations: a flattening and widening of the edge, losing any reeding in the process. The heat pushes from the center outward resulting in a state that often resembles a bicycle tire with enhanced rim. The diameter becomes smaller.
Also, the result is a “mushy” discolored surface with devices literally melting away, as in the above coin. That is not a grease strike. It is a cent that was exposed to high heat in a commercial dryer. Compare:
It is important to distinguish between dryer coins and spooned ones. While both are considered damage, there are distinct differences.
Spooned
A spooned coin often looks like a dryer coin. In this case, however, the edge of a coin is intentionally hammered or pressed with the back of a spoon, eventually flattening and widening it.
The process is used to make a coin ring, as in this example:
The process of tooling the coin varies from a kitchen spoon to a handy person’s tool box and machinery. Basically, the coin is secured on a hard surface so that the person can use the back of a metal spoon, tapping, rotating and rubbing the coin over a long period (we’re talking days or even weeks).
Eventually the coin starts to mushroom toward the edge, developing an extended ring-like edge as in the above coin. At that point what remains of the coin is punched or drilled out, leaving the ring, which eventually is polished.
Some finished rings are lovely, as in this example:
Of course the finished ring looks nothing like a dryer coin. The confusion happens when the person abandons the spooning process and leaves the coin with a large ring-like edge but with the remaining devices of the coin still visible without the mushy appearance of a dryer coin.
That’s how you tell the difference between a spooned and dryer coin. Compare:
As you might expect, unknowledgeable people sell dryer and half-spooned coins as valuable error. Here’s an example of a dryer coin offered for $150.
Here’s an example of a spooned quarter misidentified as an error for $500.
Proxiblog has the largest illustrated glossary on the web. Click here. You can compare dryer and spooned coins to sunken dies and heat damage. Study all the examples so that you, too, can become a coin expert.
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There are various patterns of toned coins ranging from rainbow to terminal. Here are the major ones. You can use these terms when selling or sharing your coins with others.
Rainbow
Rainbow colors in nature are Red, Orange, Yellow, Green, Blue, Indigo and Violet. These can be found on coins, as in this example from one of my former coins sold on GreatCollections:
Monster
This term is often misused. Coins that are true “monsters” have exceptionally vibrant, intense, and often, high-value colorful toning, frequently associated with Morgan dollars. Again, from one of my former coins:
Target (Bull’s Eye)
Concentric rings of color, often developing from the outside rim inward. This was one of my favorites and difficult to sell:
Pastel
These coins exhibit soft, light and delicate colors, as in this former coin I owned, also sold on GreatCollections:
Natural/Skin
This refers to natural, undisturbed patina that has developed over a long period. Again, a former coin:
Cabinet
Deep, attractive, often golden or brown toning that develops slowly over many years of storage in a felt-lined cabinet. This coin actually toned over decades in such a cabinet, with the coin saved after JFK’s passing.
Crescent
Toning that appears as a crescent moon shape on a portion of the coin, often caused by how it sat in a holder or album. It was difficult for me to sell this one:
Textile
A rare sought-after pattern that mimics the texture of the canvas mint bag in which the coin was stored. Again, one of my former coins:
Mottled/Splotchy
Uneven and spotty toning as in this former coin of mine:
Taped
Coins originally taped to an album that may develop unique toning where the tape once was, as in this formerly owned coin:
Corrugated Cardboard
These are extremely rare and coveted coins because they often take on the colors of the American flag. I mourned selling this one:
Black/Terminal
Advanced oxidation that can hide coin details, often reducing desirability. You can find plenty of these once beautifully toned American Silver Eagles that crossed over from old green PCI holders to PCGS, with the Gold Shield interacting again with the toning until it goes terminal. You can see that with crossed over coins that had TrueView:
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If you are in the market for fabulous toned coins, think about Tidy House and American Savings lots whose cardboard produces rainbow patinas.
But there are pitfalls, too. Unscrupulous sellers keep the toned coins and swap lesser or doctored coins.
This article showcases the type of toning you might find with original offerings.
Tidy House Dollars
“Tidy House dollars” are Morgans used in a promotional campaign by the Tidy House Products Company, a cleaning products company, in the 1960s.
The company reportedly acquired a large number of common-date Morgan silver dollars, mostly from the New Orleans (O) mint from the 1880s, from a U.S. Treasury hoard. These coins were sealed in a cardboard holder with an advertising description.
Toning is the main reason “Tidy House dollars” are collected. Coins in the cardboard develop rainbow patinas, as in this example from my collection:
I sent to PCGS and got this grade and TrueView:
But what to do with the now-empty Tidy House holder? You should save the holder after you slab your coin and then, when ready to sell it, show if as this seller did on eBay:
Don’t be fooled by Tidy House holders with coins having no patina. Those probably have been swapped out. You want to buy original ones with rainbows. Otherwise, let the lot go.
And keep in mind that Tidy House only holdered Morgans, not Peace dollars, as in this artificially toned one that I wrote about at Coin World.
In addition to Morgan dollars, Tidy House also holdered 1964 JFK Half Dollars. Those, too, usually have magnificent toning. Here’s an example from one of my Tidy House purchases:
Here’s an offering with all the paperwork and obviously swapped out coins.
American Savings Dollars
American Savings and Loan” banks, especially in Texas, also ran promotions using silver dollars, especially 1979-S Morgans, from a bank bag purchased from the Mint in the 1960s. These have exceptional toning.
I purchased this one in 2022:
Here’s how it graded:
I use the TrueView for my Proxiblog logo.
The empty holder is in my office drawer.
As with the Tidy House dollar, do not purchase any American Savings dollar that lacks toning or has ugly or doctored patina. If the coin exhibits wear, it didn’t come from the bank bag, as this coin, which is AU and has been cleaned and retoned:
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Many hobbyists recommend holdering coins only if they are valuable enough without considering other reasons listed here.
True, the cost to grade can be prohibitive for some collectors. Top companies charge anywhere from $25-38 per coin in addition to fees for membership, handling and mailing, with additional fees for error coins, varieties, special labels or quicker turnaround times.
If cost is not a factor, you might consider holdering a coin for reasons other than inherent value.
Authenticity
A slab provides assurance that a coin is genuine, reducing the risk of purchasing a counterfeit. China exports hundreds of thousand fake coins each year to the United States, especially ones with a Carson City mintmark. If you holder the coin with PCGS, NGC, ANACS, CAC or ICG, you will have a unique barcode or serial number, allowing collectors to verify the coin’s details. Additionally, PCGS and other companies embed security chips to guard against counterfeiting.
Storage
Slabs are sonically sealed in hard plastic, protecting coins from physical damage, such as scratches and drops, as well as environmental damage. Companies also sell containers for compact storage. What’s more, you can share your love of the hobby with family and friends, letting them hold the slabs without your worrying about the coins being improperly handled.
NGC offers some of the most advanced coin holders in a range of sizes to fit virtually every coin ever struck. The company writes, “Designed for long-term preservation and protection, the NGC holders are comprised of high-quality inert materials” with security features. “Collectors, dealers and even the Smithsonian Institution trust NGC holders to protect their most treasured rarities.”
Photography
Top holdering companies also provide photos of coins, sometimes for an additional fee. This is especially important for toned coins. For example, PCGS does a fine job enhancing the rainbow of colors that grace the patina. Photos are important if you keep your collection in a bank box or live somewhere else (i.e. a college student away from home) allowing you to see your coins when and where ever you wish.
PCGS TrueView images are perfect for toned coins like this:
Family
A “family” of coins share common design elements, denominations, mintmarks or thematic characteristics within a series. For instance, you may want to collect all five 1878 Morgan dollars or W-mintmark Quarters or perhaps an example of various errors or varieties, as in the seven 1982 cents or 1942-45 silver war nickels. In these cases, a slab’s labeling is important as you assemble the family of your choice.
Set Assemblies and Registries
A complete date and mint mark set of Morgan Silver Dollars (1878–1921) usually contains close to 100 coins. Because there are so many, some hobbyists prefer year sets. Other assemble sets of a specific mintmark, such as all the coins minted in San Francisco or Carson City. A date and mintmark set of Peace Silver Dollars (1921–1935) consists of 24 coins. Regardless of the set in question, collectors may include a lesser value coin in a holder merely to complete the set in question.
Veteran hobbyists also may participate in set registry competitions, again requiring every coin or variety in the series. One of the most popular PCGS set registries are “low-ball” ones featuring the most worn coins.
Selling
It is often easier to sell, trade, or auction a coin that is already certified, particularly online or to collectors who cannot inspect it in person. Some large auction companies such as GreatCollections or Heritage may require you to holder your coins before they will list them in their catalogs. If you holder with PCGS, NGC or CAC, your coins can be sold sight unseen because of the consistency and quality of the grading.
GreatCollections even notes certification in his banner: “Certified Coin and Paper Money Auctions.”\
Provenance
Serious hobbyists often are concerned about provenance of specific rarities. But even damaged or heavily worn coins may be family heirlooms, such as a grandfather’s “pocket piece.” A coin with deep personal history can be preserved in a “perfect” state by slabbing it, even if it is not especially valuable.
In the past, family members might have passed down coins that they wore as jewelry. This was especially popular in the 19th Century. Here’s a perfect candidate for a slabbed personal heirloom, an 1885 20th Anniversary medal commemorating Abraham Lincoln’s death.
Many collectors prefer raw coins to slabbed ones because they want to hold history. There certainly is a place for that. Just keep some of the low-ball Morgan dollars, for instance, so friends and children can feel the heft of the silver.
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There are many ways to figure the worth of a coin. Follow this step-by-step method, answering these questions along the way:
Is it certified?
Do you know denomination, series, strike?
Do you know the mintmark?
Do you know the Sheldon Scale?
Can you identify your coin on the Sheldon Scale?
Can you spot flaws affecting value?
Are you ready to estimate value now?
Do you know how to establish silver melt?
Is it certified?
If you have a coin certified by PCGS, NGC, ANACS, CAC and ICG, simply go to their verification sites and input the certification number on the label. Here are links:
If you have a coin holdered by another company, consider the coin inside “raw” or unholdered.
Do you know denomination, series, strike?
You need to identify these features, which every coin has:
Denomination Definition: The face value of a coin, or the specific amount of money it is meant to represent. Example: Common U.S. circulating denominations include 5 cents (nickel), 10 cents (dime), and 25 cents (quarter).
Series Definition: A series is the complete set of a specific coin design, minted over a period of years, usually including all dates and mint marks. Example: Lincoln Cent Series (1909–Present): Includes every date/mint combination of the Lincoln penny.
Strike Definition: Refers to the method of manufacturing used to create the coin. Types of Strike:
Circulation Strike (Business Strike): Coins made for everyday commerce, usually produced quickly in high volumes.
Proof Strike: Coins made for collectors, typically with higher pressure, multiple hits, and polished dies to create a mirror-like field and frosted design.
Special Mint Strike (SMS) / Burnished: Specific, high-quality finishes used for special sets.
Do you know the mintmark?
These are mintmarks for US coins identifying the facility of manufacture:
P – Philadelphia, Pennsylvania: The primary U.S. Mint. Most coins from Philadelphia historically had no mint mark, but the “P” now appears on most denominations except the penny. D – Denver, Colorado: Operating since 1906, this mark is found on most modern circulating coins. S – San Francisco, California: Since 1975, primarily produces high-quality “proof” sets for collectors. W – West Point, New York: Established as a mint in 1988, it mostly produces bullion and special collector coins.
Historic U.S. Mint Marks: These letters appear on older coins from facilities that are no longer in operation. C – Charlotte, North Carolina: Produced gold coins only from 1838 to 1861. D – Dahlonega, Georgia: Also produced gold coins only from 1838 to 1861 (not to be confused with the modern Denver “D”). O – New Orleans, Louisiana: Struck gold and silver coins intermittently from 1838 to 1909. CC – Carson City, Nevada: Famous for silver dollars, operating from 1870 to 1893.
Once you know the denomination, series and strike, you can go to PCGS CoinFacts to find the location of the mintmark.
Do you know the Sheldon Scale?
The Sheldon Scale is a 70-point numerical system to determine a coin’s condition and market value, ranging from 1 (Poor) to 70 (Perfect Mint State).
There are two main types of condition: circulated and uncirculated. Numbers 1–59 (Circulated), from poor to almost uncirculated.
Intermediate grades are Poor, About Good, Good, Very Good, Fine, Very Fine, Extra Fine, About or Almost Uncirculated, Uncirculated.
Here is a nifty chart for numbers and condition.
Can you identify your coin on the Sheldon Scale?
Identifying the condition is subjective, even for veterans; but you can come close if you compare your coin to the denomination, series and strike on PCGS Photograde, which provides photographs that you can use for comparison.
Example:
You have to compare obverse and reverse, but for purposes here, we’ll just do obverse.
Underestimate when you compare your coin to one on Photograde, adjusting for personal bias. In this case, you may be tempted to think your coin is almost uncirculated. But a strict comparison puts it in the Extra Fine category, somewhere between Very Fine 35 and XF45. Let’s go with XF45
Can you identify flaws affecting value?
There are dozens of possible flaws on a coin that lower value or prevent it from being “straight graded” (a numerical score). Here are major ones:
Cleaning: Harsh abrasive cleaning or polishing that damages the surface.
Environmental Damage: Corrosion, excessive toning, or verdigris.
Physical Damage: Major scratches, rim dents, or metal movement.
Altered Surfaces: Applying substances like wax, putty, or lacquer to hide flaws.
Questionable Color: Artificial re-toning, often used to make a coin look more attractive.
Filed Rims: Rims that have been filed to smooth out dents or damage.
Any one of the above flaws will reduce the value of your coin, depending on severity. In many cases, that is 25-50% of estimated worth.
Are you ready to estimate value now?
You know the denomination, series, strike and mintmark. You know the Sheldon Scale and have estimated the grade using PCGS Photograde. You eliminated possible flaws and think your coin can be straight graded.
Let’s continue with the 1900 Morgan Dollar at XF40:
Go to PCGS CoinFacts for retail and auction values for such a coin.
The retail value here is $85 (due at the time in part to the high price of silver). But only 20 have been slabbed at that grade, meaning it probably wasn’t worth the cost of grading. That is confirmed because there are no recent auction sales listed at that low grade.
Your coin is silver melt.
Do you know how to establish silver melt?
Here is the formula:
Multiply the item’s total weight (in troy ounces) by its purity percentage, then multiply that result by the current spot price of silver.
Again, let’s use that 1900 Morgan Dollar.
Morgan dollars (1878–1904, 1921) contain 90% silver and 10% copper, with a total weight of 26.73 grams, resulting in 0.77344 troy ounces of pure silver per coin.
The current market value for one troy ounce of silver, which changes frequently, happens to be $109 (during a spike in that precious metal). Thus, the silver melt value of your Morgan is 0.77344 times $109 = $84.30.
Keep in mind that coin dealers usually only buy 10-15% under silver melt. So you’re looking at about $71, depending on your buyer.
If you like posts like this, subscribe so you can be informed whenever there is a new article or column.
Proxiblog also has thousands of followers on Facebook Coin Groups, YouTube and other social media. To get the latest discussion and commentary, be sure to friend us by clicking here.
You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
