By: Bimol Bee
Submitted: 2011-10-16 04:24:34 | Word Count: 489
Speaking about coin collecting it's important to touch such topics as the reasons why people collect coins, types of coins, appropriate handling of coins to conserve their uniqueness, coin grading services and the tools a collector should possess. A Numismatist is the person who studies the history of collecting coins. These people also study the history of coins, their usage and artistry.
Why People Collect Coins?
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There're different reasons why people collect anything. Speaking about coins it's recommended to learn about the historical importance they have in general. Thus, in 1986 the United States began a program of minting the Silver American Eagle available to the public. For the first time it was made in 1935.
Today, collectors appreciate the significance of coins because of the importance of events that took place at the moment the coin was first minted. You as if hold a part of history in your hands. Besides, coin minting is an art form.
Areas of Coin Collecting
Ancient Coins include the Roman and Greek coins up to the coins of Middle Ages.
World Coins include not only United States Coins but also coins from other countries of the world. U.S. coins are subdivided into two subcategories: the first one is referred to as Old and includes coins dating back to the creation of the U.S. to 1982 while the second category includes modern coins beginning from 1982 to the present.
Numismatic Coin Terms
As far as it's known, the front or head of the coin is called the Obverse while the back or tail of the coin is referred as the Reverse. Any coin has a portion that is raised. This portion is called the "devices" of the coin. The flat areas of the coin are the "fields" of the coin and aren't used for the design or inscription.
Preserve Coins' Uniqueness
In order to preserve uniqueness and the original state of coins an individual needs to follow certain rules:
* Hold the coin by the rim with your fingers.
* Never touch the coin with bare fingers on the Obverse or Reverse of the coin as the oils from skin can tear on the coin.
* Use white cotton gloves to handle the raw coins.
Coin Grading
The goal of coin grading is to learn the value of a coin in the marketplace. For a coin to have a higher grade it must follow particular guide lines. Dr. William Sheldon invented a grading scale for modern coins in 1949. It's a scale from one to seventy. The higher the coin grade the less flaws there are in the coin. A coin graded at seventy should have no flaws or bag marks.
Circulated coins are valued according to the range on this scale from one to fifty-nine while uncirculated coins are valued according to the sixty points scale and above range and they are considered to be Mint State (MS). A coin graded MS70 may be considered perfect.
