Tag Archives: silver

Medal Memories: “My Great Grandfather’s Collection”

Posted on by

By Susan Blumlein Amodeo

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

https://www.masshist.org/database/82

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.

“Dutch Republic | History & Facts.” Encyclopædia Britannica, 2019, http://www.britannica.com/place/Dutch-Republic.

“Massachusetts Historical Society.” Masshist.org, 2019, http://www.masshist.org/.

“Nicolaas van Swinderen – Numista.” Numista.com, Numista, 2026, en.numista.com/catalogue/artist.php?id=2330.

“The Hague – Eurocities.” Eurocities.eu, 6 Aug. 2020, eurocities.eu/cities/the-hague/.

www.americanacorner.com/blog/john-adams-ambassador.

Common Mercury Dime Counterfeits

Posted on by

Key date coins are commonly counterfeited and should be viewed with scrutiny. This subject example of a 1916-D Mercury Dime surfaced and what many would call a “one glance” counterfeit.

The mintmark punch for the 1916-D is easily recognizable, along with 4 mintmark positions for genuine coins. This clearly isn’t a genuine mintmark and as one can tell by the surface quality the coin itself is a counterfeit.

This is one seen routinely through various Facebook groups, you would be hard pressed not to see one of these shared weekly. It isn’t just the key dates targeted (although that is the primary targets). Image comparison of a 1916-D, 1921-D, and 1939-D pictured below. A common reverse with a “bad” mintmark and small surface lump to the right of E.

Common markers in Red:

  • Surface lump to the right of E of ONE
  • Deformed mintmark shape and placement

Markers In Green indicate features not present on all examples. In this case two cracks running though U in “UNITED” and the A in “STATES”.

If you would like to know more about 1916-D markers, click here.

If you like posts like this, please go to our counterfeit archive with reports from Jack Riley, Jack D. Young, John Lorenzo and Michael Bugeja. Also, please subscribe so you can get our weekly newsletter and be informed whenever there is a new article or column.

Proxiblog also has hundreds of followers on Facebook Coin Groups. To get the latest discussion and commentary, be sure to friend us by clicking here.

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.

Double Denomination/Struck Coin

Posted on by

Double denomination coins are genuine errors struck on a previously struck planchet of a different denomination (e.g., a cent on a dime). Double struck coins are struck twice with the same dies, often overlapping. 

Let’s investigate these genuine error coins and distinguish them from post mint damage (vise and glue coins).

Double Denomination

A double denomination error happens when a previously struck coin, often a smaller denomination like a dime, is fed into a press for a larger denomination like a cent. Because there are two denominations, struck over each other, the error is known by this name. Typically, this happens when struck coin bounces or falls into the wrong hopper or is jammed in the machine, coming loose during striking of another coin.

Technically, this is a machine error. But unlike machine doubling, double denomination coins are rare and highly sought after. The strike also usually ends up misaligned on the planchet.

The most frequent holdered examples include the so-called “11-cent coin”–a cent on a dime. Often a Roosevelt dime is struck with a Lincoln cent. One way to tell is identifying the reeded edge from the dime. Replicas and fakes often do not include this identifying aspect.

Other denominations include a 15c Coin, or Jefferson Nickel on a Cent; 35c Coin, or Quarter on a Dime; and a $1.05 Coin Sacagawea Dollar on a Nickel.

Also, the dates of these double struck coins do not have to match. Two different dates usually occur with machine-jammed coins that come loose during striking of another, as in this example:

Double Struck

This error happens when a struck coin did not eject from the coining chamber and gets struck again, or several times. The result is an overlapping and distorted design with one strike flattening the other. Some double-struck coins have a date; others, as in the above example, do not.

There are different types of double struck coins. The most common is a coin struck correctly that doesn’t eject with the second strike off center. Another type happens with a second image struck over the first. Less common are multiple strikes,

You can see the various examples on the PCGS website. Here’s a double struck off center cent from that site:

The most common double strikes include Lincoln Cents (1959-2008) and clad Jefferson Nickels, Roosevelt Dimes and Modern Washington Quarters.

Vise and Glue Coins

A “vise job” is evidence of post mint damage. It is not an error. Someone squeezed one coin atop another using a vise, hammer or pliers so that it resembles a double struck or denomination coin.

You can spot a vise job when letters or the date appeal backward or the design is sunken into one rather than raised as would be a genuine error.

Note the backward spelling of “America” on this coin:

You can also do similarly with glue. These often appear like double strikes with a ghost image seemingly stuck to a regular strike. Upon inspection, you should see a foreign raised substance. A person uses glue to get an imprint of one coin and then layers it on another. If the raised area looks shiny, you probably have a glue coin.

As the glue dries, however, it may turn darker rather than transparent, looking like metal as below:

If in the market to purchase a double denomination or double struck coin, and are unsure how to identify replicas and forgeries, make sure that it is in a reputable holder. Keep in mind that China has been exporting these fakes. Here’s some examples from Etsy, all selling for under $30.

If you are interested in the various coin conditions like double denomination and double struck, be sure to visit our illustrated coin glossary, the largest on the web, with close to 300 entries.

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.

eBay Seller’s comments to “Your Baby’s Ugly”

Posted on by

By Jack D. Young

Proxiblog asked me to consider doing an article on “how eBay sellers react when we report their coins as fake? I know some take down the lots. Others don’t.” I was intrigued by the thought and decided to write the following!

When I explain a Bay listing is counterfeit sellers can react a number of ways–in disbelieve, argumentatively (Grandpa owned it), accepting and thankful, combative (I’ll meet you in a parking lot dude…) or just “crickets.”. In my experience the larger the seller the higher the probability of crickets.

So, moving on I will not lower our standards here and report the combative ones but several of recent experiences I have had of the other types of reactions.

Let’s start with an interesting Trade dollar. This example just caught my eye, and the images led me to believe the coin was not genuine. The images in the listing were not definitive, and I asked the seller for better ones. He agreed and that was all it took! The common reverse used for a family of fakes I nicknamed the “notched R.” I wrote an article on these published in a recent LSCC Gobrecht Journal. I actually own one returned to a seller by NGC as counterfeit, so well versed on these:

eBay recent listing

So, I asked the seller about the coin and that I had concerns about its authenticity. He responded that he looked up the cert and the “PCGS verification”.

I responded there were no images on the on-line cert, so no help there. I included images from my coin and article and that I was sure it was counterfeit.

And he responded with a thank you and that he would remove the listing immediately, which he did!

So, a win, except who knows were the coin ends up, as he responded he is taking it back to the previous seller… And then another listing and another message:

Seller actually had two bad Morgans in fake PCGS slabs listed:

As he stated in his message, he ended both!

So, two with likely the best results we could hope for. And then this one:

Another counterfeit coin in a counterfeit slab, this one gets a little complicated if you really evaluate this one properly.

First, the obverse barcode scans as a 1989 $10 gold eagle. Then, the images of the genuine example for the cert# on the PCGS site are a completely different coin. And third, the interesting twist for this one is fakes of this type typically have a reverse QR code that scans to the genuine PCGS cert site in CHINA (cnpcgs), BUT this one scans to pcgseurope! A separate article on this one in the works.

So, I notified the owner, but he is in denial, and his response and then silence:

Silent until this😎:

So, good luck to all eBayer’s with that one!

And now the crickets; my friend Jack Riley posted the next example in our Face Book group:

Pretty bad counterfeit in a counterfeit slab again, the surprise was it is a large well respected Bay coin seller. Several of us sent messages to the seller with no response, so I took a risk and purchased it with the intention of asking for a return for it being a counterfeit.

Refund granted, never heard from the seller…

And eBay removed the listing:

Shortly thereafter my eBay account was permanently suspended.

If you like posts like this, you can read more articles on counterfeit coins by Jack D. Young, Jack Riley and Michael Bugeja at this URL. Also, please subscribe so you can get our weekly newsletter and be informed whenever there is a new article or column.

Proxiblog also has thousands of followers on Facebook Coin Groups, YouTube and other venues. To get the latest discussion and commentary, be sure to friend us by clicking here.

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.

Difference between dryer and spooned coins

Posted on by

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.

If you like posts like this, subscribe to Proxiblog 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 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.

Family of “Fugazi” Lincoln Cents

Posted on by

By Jack Riley

Fugazi is an Italian slang term meaning “fake” or “bogus,”  referring to a counterfeit object, a sham, or a fraudulent person. People who counterfeit coins are shams and frauds.

We “out” them on Proxiblog.

Prompting this article is a 1914-D cent that a friend shared in a large Facebook coin group. After I explained that this was not genuine, I received additional closeup images for analysis.

A closeup image of the date and mintmark shows this coin is not a genuine 1914-D. The shape and placement of the mintmark is incorrect. This, however, is not the case of an altered date or an added mintmark; the entire coin is counterfeit.

This 1931-S had surfaced on eBay within the last few months. Comparing both reverses it is clear these were produced from the same makers and related to a large “family” of counterfeits. I’m calling this family “Notched O.” More on that momentarily.

The image quality of the 1931-S is subpar, leaving blurry images, yet enough to discern the repeating marks.

“Common marks” highlighted in Red:

  • Depression in O
  • Dent in “N” as well as the “O” in the word OF
  • Small indent of the “E”

At this writing I’ve only seen this on both 1914-D and 1931-S. Likely this exists on many key and semi key dates as well.

To check if your coin may belong to this “fugazi” (i.e. “fake”), look for those common marks highlighted above in red.

If you like posts like this, you can read more articles on counterfeit coins by Jack D. Young, Jack Riley and Michael Bugeja at this URL. Also, please subscribe so you can get our weekly newsletter and be informed whenever there is a new article or column.

Proxiblog also has thousands of followers on Facebook Coin Groups, YouTube and other venues. To get the latest discussion and commentary, be sure to friend us by clicking here.

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.

 

1969/70-P and 70-D Dime Varieties

Posted on by

No one is exactly sure how this variety happened, but the US Mint–under pressure then to produce billions of coins–mistakenly used the reverse of a 1968-S Proof Dime for the reverse of 1969-P, 1970-P and 1970-D Roosevelt business strikes. The official variety is known as 1969 rev. of 1968, 1970 rev. of 1968 and 1970-D rev. of 1968 (FS-901).

The FS-901 refers to a catalog number identified by Bill Fivaz and J.T. Stanton, co-authors of the Cherrypickers’ Guide to Rare Die Varieties of United States Coins.

“Reverse of 1968” on these three dimes is a numismatic variety recognized by all major holdering companies. The 1968 reverse shows two distinct, well-defined, and sharp valleys in the torch flame, whereas the business strike reverse has a less defined, blurry flame.


The 1969-P FS-901 is generally considered the rarest of the three with about 15 holdered by PCGS. 1970-D FS-901 is the most common with about 30 holdered by PCGS. About 20 for the 1970 rev. of 68.

All of these varieties can be found in rolls, although they are very scarce.

While this is a rare variety by population data, PCGS values remain low, ranging from $50-100.

You can find the variety on eBay selling about the same or higher, although the coins are unholdered, as in these examples:

If you are a dime roll hunter, keep your eyes peeled for other Roosevelt dime varieties:

1946 DDO FS-101

1946 DDO FS-102

1982 No Mintmark – Weak

1982 No Mintmark – Strong

As you can see, there are not many varieties for Roosevelt dimes, but click the links above and go to Proxiblog for articles explaining die markers.

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.

Slabbing Common Coins

Posted on by

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.


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.

What’s My Coin Worth?

Posted on by

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:

Example:

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:

  1. 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).
  2. 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.
  3. 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. 

Here is an example of environmental damage:

For other illustrated examples, see “Common Flaws That Hobbyists Often Miss.”

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.

Odds of Finding Ultra Rarities

Posted on by

Clickbait social media sites have tricked new coin collectors into believing they can find ultra rarities in pocket change and bank rolls. What are the odds?

We’ll calculate those odds later. But here’s the list of what you in all likelihood will never find:

  • 1974-D Aluminum Cent
  • 1943-D Copper Cent
  • 1944-S Steel Cent
  • 1982-D Small Date 3.1 grams
  • 1943-S Copper Cent
  • 1944-D Steel Cent
  • 1983/83-D Copper Cent
  • 2000 Sacagawea Mule
  • 1944 Steel Cent
  • 1943 Copper Cent
  • 1969-S DDO Cent
  • 1971-D DDO Cent

Social media scammers also proclaim “no mintmark” coins are rarities. No mintmark means minted in Philadelphia; missing mintmark is the rarity. Again, later in the article, we will show you just how many of these rarities are believed minted:

  • 1968 No S Proof Dime
  • 1990 No S Lincoln Cent
  • 1970 No S Roosevelt Proof Dime
  • 1975 No S Roosevelt Proof Dime
  • 1983 No S Roosevelt Proof Dime
  • 1971 No S Jefferson Proof Nickel
  • 1976 No S Eisenhower Proof Dollar
  • 1982 No P Mintmark

But not to despair! There are hundreds of findable rarities in rolls and pocket change. They won’t make you rich, but will make you a coin collector–a true hobbyist–who knows how to spend time wisely. We’ll cover those later.

Clickbait Social Media

Scammers on Facebook and YouTube foster the belief you can get rich and retire with pocket change.

Here’s a sample YouTube video:

There are only 5 known 1943-S Copper Cents. People have been checking their change and bank rolls for 70 years. To calculate odds of your finding one, factor this: some 125 million Americans consider themselves coin collectors to some degree. Twenty percent of Millennials, or 14.5 million, have taken a keen interest in numismatics.

New collectors have purchased coin microscopes and visit TikTok, Google, YouTube, eBay, Facebook and other social media venues, believing they can strike it rich by checking their change at the grocery store or making several trips to the bank for rolls.

Now consider the past 50-70 years of Americans collecting coins and looking for ultra rarities like 1943 copper cents or 1944 steel ones. What do you think the odds are of your finding one of them?

Now factor the hundreds of thousands of fake ultra rarities exported to the US by China. These often find themselves in rolls and auctions. Etsy, an American company flooded with Chinese sellers, and Temu, a Chinese company, also have saturated the coin market place with replicas. See this article for examples.

AI Calculates Odds

In addition to being a numismatist, I am a distinguished professor (actual title) emeritus at an institution of science and technology. My research specialty is artificial intelligence. I fed data into several sites and databases to calculate the odds of your finding one of these treasures.

In the table below, you will see those top 12 rarest coins and their values along with the odds of your finding one in pocket change or bank rolls.

Brace yourself:

Social media is undermining the hobby along with Chinese counterfeiters who count on your not knowing die markers for rarities. If you don’t, you can spend thousands on replicas.

Some examples:

Just consider the 1943-S restrike copper cent offerings on Etsy:

eBay scammers buy these restrikes and then list them as ultra rarities. Here’s an example:

You also can find “missing mintmark” rarities in online auctions.

Missing Mintmarks

The Philadelphia Mint did not use a mint mark on coins until 1980, with the exception of the 1979 Susan B. Anthony dollar, 1942-45 35% silver Jefferson war nickels, and the 2017 Lincoln 225th anniversary cent.

Here’s another table about how many missing mint mark coins are believed to have been released into circulation.

Here are tactics of counterfeiters and scammers:

  • Altering Normal Coins: Forgers might take a regular dime and try to remove the mintmark.
  • Tooling: Look for signs of filing or polishing where the mintmark should be.
  • Fake “No-S” Proofs: A common tactic is to take a regular business strike (like a 1970-S) and try to remove the ‘S’ to pass it off as the rare proof version.

If you would like to learn more about the above missing mint mark coins, click here for a full article.

Findable Rarities

There are hundreds of varieties and error coins that hobbyists still can find in pocket change in bank rolls and that are holdered by PCGS, NGC and ANACS. For a comprehensive list, click here.

Coin collecting is in part about value and investment. The difference between now and past decades is where new hobbyists are getting misinformation. In the past, most numismatists embraced the hobby because of the history, art, culture and metallurgy of coins, medals and paper money.

That is why Proxiblog recommends these three articles for new hobbyists:

HOW TO COLLECT COINS *** HOW TO GRADE COINS *** HOW TO SELL COINS

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 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.