Coins Collecting Hobby: How to determine value of a coin

We have been sharing news and views about coin collecting and some of the rare coins from around the world in our previous posts. Today, we are sharing an informative video on How to determine the Value of the coin - which would surely answer many questions the beginners in coin collecting hobby may have.

The value of a coin depends on several factors, including what the coin is made from, if the coin has a mint mistake and if the coin is rare. Determine the value of coins and understand the grading system with tips from the owner of an antique store in this free video on coin collecting.

Watch a video about 'How to determine the value of the coin' featuring Rui Farius, who has over 20 years of experience in collecting antiques and coins, and 15 years of experience in buying and selling antiques.

Video and details courtesy: YouTube / eHow

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£1,000 Golden Jubilee coin that costs £60,000 to buy

So you are a coin collector? If so, here is a coin for you: A £1,000 Golden Jubilee coin that costs £60,000 to buy

The Royal Mint has made it's first ever coin to weigh a kilo in pure gold as a special tribute to mark the Queen's Diamond Jubilee.

But while the heavy commemorative coin has a denomination worth £1,000 it costs £60,000 to buy because of its rarity and value as a collector's item. 

The coin required a special parliamentary bill to be passed enabling its £1,000 face value to acquire legal tender status.

Worth your weight in gold: This picture shows both sides of the Royal Mint's first ever coin to weight a kilo in gold to mark the Queen's Diamond Jubilee [Photo: PA / Daily Mail]

Read more / see more photos of the coin: Daily Mail

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Coin collecting hobby turns into a thriving gold business

[ Shared from Bloomberg Businessweek ]

Coin collecting is one of the most liked, costly and "fortune making" hobbies of the world. While many collect coins for fun and treasure keeping, others make it an investment passion and earn handsome dividends. But there are some who make fortunes out of it and even become supplier of gold to governments. 

Don't believe it? Read a few excerpts from a post recently published by Bloomberg Businessweek and see for yourself how a small passion and hobby can outgrow into a thriving business.

Here is how the story begins:

In 1973, Louis Oliari opened Coins ’N Things, a small storefront between a Dairy Queen and a hair salon in Brockton, Mass. His teenage son Mark had become obsessed with coin trading, and Louis, an engineer and a coin enthusiast himself, figured if he indulged the kid he’d eventually outgrow the hobby and go to college. “The whole idea was that I’d get bored and get this out of my system,” Mark, now 54, remembers.

Today, Coins ’N Things is the largest seller of raw gold to the federal government. In the fiscal year that just ended, the U.S. Mint, which has bars made into coins for collectors and investors, bought $1.86 billion worth of the metal from the Bridgewater (Mass.) company. Not too shabby, considering that Coins ’N Things and the Mint struck their first deal less than two years ago.

Read full story for details..

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Commemorating 60 years of Pakistan - China friendship

The Pakistan - China friendship dates back to 21 May 1051 when Pakistan became one of the first group of countries to recognize China as an independent state. Since then, China and Pakistan have witnessed smooth development of friendly and neighbourly relations as well as mutually beneficial cooperation. These sixty years between 1951-2011 have shown the resolve between the two great countries to cement their ties more stronger every day that passes by.

Pakistan's President Ayub Khan with the Chinese premier Zhou Enlai on the Great Wall of China - 1964

The hallmark visit of President Ayub Khan to China in December 1964 opened a new era of friendship and long term partnership between the two countries. President Ayub was so warmly received by the Chinese that people still remember that warmth even today.

China today is the major trade partner and contributor of defence equipment to Pakistan. The recent joint venture of JF-17 Thunder multi-role jet aircraft has further cemented the ties between the two countries.

Commemorating the 60 years of long and tested friendship, the State Bank of Pakistan has issued a Rs.20 commemorative coin (above top) with effect from 21 May 2011 to celebrate year 2011 as the Pakistan-China friendship year. The coin has a diameter of 30 mm and weigh 9.5 grams. The obverse of the coin shows the waxing crescent and a five-pointed star facing northwest in rising position. The words - 2011, YEAR OF PAK CHINA FRIENDSHIP - in English is written on the top of coin.

Related:

Pakistan's Foreign Relations (Pakistanpaedia)

Pakistan's JF-17 Thunderbolt at Farnborough air show 2010 (JahoJalal)

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The Jinnah Gold Coin

On the eve of 100th birthday celebration of Muhammad Ali Jinnah, the founder of Pakistan (born 25th December 1876), a gold coin with a face value of Rs. 500 was issued by the Government of Pakistan.

Weighing 4.5 grams, the gold content of the coin was approximately 91.7%. The obverse side of the coin had Government of Pakistan inscribed in Urdu (the national language of Pakistan) with the motto given by Mr Jinnah for the newly created state of Pakistan in 1947. The reverse side had the portrait head of Jinnah with an Urdu inscription "100th birth anniversary celebrations of Quaid-e-Azam," a title with which Jinnah is most commonly known in Pakistan. 

The coin with a diameter of 19 mm was issued on 22 February 1977.

Related Reading: Muhammad Ali Jinnah - the founding father of Pakistan (Pakistanpaedia)

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Yuri Gagarin Commemorative Coins

The history made by Yuri Alekseyevich Gagarin on 12 April 1961 will always be remembered as one of the most extraordinary achievements by mankind in the fields of science and technology, and space exploration. Although a lot of commemorative stamps have been issued by most of the countries around the globe since 1961, the issuance of commemorative coins has somewhat been limited.

There were two commemorative coins issued in the Soviet Union to commemorate 20th and 30th anniversaries of his flight: 1 ruble coin (1981, copper-nickel) and 3 ruble coin (1991, silver). In 2001, to commemorate the 40th anniversary of Gagarin's flight, a series of four coins bearing his likeness was issued in Russia: 2 ruble coin (copper-nickel), 3 ruble coin (silver), 10 ruble coin (brass-copper, nickel), and 100 ruble coin (silver). The copper-nickel coin can be seen above.

In 1981, on the 20th anniversary of Yuri's space orbital, the erstwhile Czechoslovakia issued a silver coins weighing 9 grams as seen above. The face value of the coin was 100 Czechoslovakian koruna Kčs. 

The unique coin above was issued by the Government of the Cook Islands. The the coin's obverse depicts the Raphael Maklouf effigy of Her Majesty Queen Elizabeth II, the 2008 year-date and the monetary denomination surrounding another coloured image of the Earth.  The unique construction of the coin literally ‘orbits’ around a coloured representation of Earth. The coin comprises 1oz of 99.9% pure silver with a central core made of non-precious metal.

Related Links:

12 April 2011-50th anniversary of Yuri Gagarin's journey into space

Postage stamps commemorating Yuri Gagarin's space mission

Coin Photo Sources:
Russian Coin (Wikipedia)
Czechoslovakia coin (Colnect)
Cook Island coin (The Perth Mint)

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Uniquely shaped coins

Normally all coins are round since the times coins came into the common use. But man’s aesthetics and quest for change never rests, and this is applicable to the shape of coins as well.  Here are some of the coins with a different shape for the interest of coin collectors.

Isle of Man took the lead a few years ago (2007) to issue world’s first pyramid shaped coins. One side of the pyramid coin bears an image of Tutankhamun while the other has a portrait of Queen Elizabeth. The copper coin’s legal tender value is 25p. Tutankhamun was an Egyptian pharaoh of the 18th dynasty (ruled c.1333 BC – 1323 BC in the conventional chronology), during the period of Egyptian history known as the New Kingdom. His original name, Tutankhaten, means "Living Image of Aten", while Tutankhamun means "Living Image of Amun".

The second coin above with a rectangular “hole” was issued by Canada in 2007 - a first for the Royal Canadian Mint! This unique coin was inspired by the square-holed coins that came into use in China after 523 B.C. Many believe its round shape symbolized heaven while the square represented earth.

The third tablet shaped coin was again issued by the Isle of Man in 2010 made of fine silver depicting Kublai Khan this time.  Kublai Khan was the fifth Great Khan of the Mongol Empire from 1260 to 1294 and the founder of the Yuan Dynasty in East Asia. Kublai Khan was the first non-Chinese Emperor who conquered all China and the only Mongol khan after 1260 to win new great conquests.

And talking of technologies, this last coin above features the Canadian Mint’s leading-edge hologram technology on its reverse side as its obverse displays an effigy of Her Majesty Queen Elizabeth II against a mirror-like proof field. With a worldwide mintage of only 4,888, this coin retails for $638.88 CDN. This $150 18-Karat gold coin represents the Year of Rabbit of the Chinese calendar. 

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The royal wedding stamps

The Britons are once again gearing for a royal wedding on 29^th of April next month – this time it is Prince William who is being married to Kate Middleton. The stamp will be available for sale with effect from 21^st April, eight days prior to the wedding. The issue date of stamps also coincides with the Queen's birthday.

This is the third time that Prince William will be appearing on the UK’s stamps. He earlier appeared on the eve of the Queen Mother's 100th birthday in 2000 and in 2003 when he celebrated his 21^st birthday. He is also the first of the queen’s grandchildren to have a stamp issued on the eve his wedding.

The commemorative stamp sheet consists of two first class stamps and two 1.10 pound stamps, portraying the would-be couple in both formal and informal poses.

Beside the stamps, the Royal Mail will also put to sale a Souvenir Cover for £7.49, Presentation Pack for £3.65, First Day Cover for £4.22, Miniature Sheet for £3.12 and a Coin Cover for £17.50. The Coin Cover that includes a stamp of four stamps and a special coin of £ 5, a unique combination that will add to the interests of both stamp and coin collectors.

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Two rare coins of Pakistan

As the world moves towards lighter and easier plastic money, the coins are becoming a rare commodity. Although, these still continue to be in use, their value and use is on decline. I remember the days when even one paisa on my childhood was a great possession. Now even a rupee of hundred rupees vanish in seconds when one goes to the market.

Above are pictured two rare coins of Pakistan. The first coin on the top is one paisa denomination dating back to 1957. One paisa was then part of one rupee and a rupee had 64 paisas in it or 16 anas, each ana having four paisas. Upon conversion to the decimal system in 1960, the rupee became 100 paisa rich, while the concept of ana was done away with. This brass made one paisa was good enough to buy a toffee in my childhood, which now cost one rupee or 100 paisas.

The second coin is 10 rupees coins issued in 13 October 1998 on the eve of 25th silver jubilee of Pakistan Senate. The coin is a Cuprous Nickel, containing Copper 75% Nickel 25%. The coin is no more to be seen except with the coin lovers.

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Serbian Kingdom Coin – 1915

Above is a photo of a coin dating back to 1915, bearing the portrait of King Peter I of Kingdom Serbia on the obverse side (left). This silver coin bears a face value of 1 Dinar, which is printed on the reverse side (right) of the coin. The coin weighed 5 grams with a diameter of 23 mm. The current value of the coin is around 10 Euros. 

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Basics of Coin Collecting - Which side is front?

There is always a confusion as to which side of coin is the front and which is the back - or which is head and which is tail. Well in coin collecting no jargon as front/back or head /tail is used. Instead the words Obverse and Reverse are used.

Obverse (or for layman a head) is the "front" of the coin. And obviously the Reverse is the opposite side or the famous tail.

For U.S. coins, whichever side has the date on it is generally considered the obverse (barring a few exceptions). For other coins, the rule followed by the Krause Standard Catalog Of World Coins is that for countries with royalty, the bust is the obverse. For republics and other non-royally ruled countries, the side with the name of the country is the obverse, so neither the date nor the denomination is entered into it. But once again there may be variations.

The photo of the coins above is a coin from Pakistan, minted in 1950. In this One Anna coin, the Obverse (or Head or Front) is the photo of coin on the left showing the star and crescent of Pakistan's flag and denomination written both in Urdu and English. The photo on the right is the Reverse (Tail or Back) of the coin, showing its date of minting, i.e. 1950, and the issuance authority written both in English and Urdu. These coins were supreceded by the Paisa coins upon conversion to metric system in 1960.

Read more about the Journey of Pakistani Currency (Pakistanpaedia)

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When is the Correct Time to Sell Coins and Stamps Collection?

When is the absolute point in time to sell coins or stamps collections? This may possibly be a dumb question if asked to collector however timing really does make a big difference. There are times when a collector wakes up in the morning and suddenly makes a decision to sell his precious collections collected over the years. There are also times that a collector needs to yield up his collections due to private reasons and the concept of selling his precious collection may be the most arduous part. No matter what the reasons are, it is a fact that this does occur in the life of every collector.

A number of collectors often search for the coins and stamps they want and for the period of that searching journey, they may stumble upon items that may not be qualified for their own collection but they may buy them anyway perhaps because at that time it’s sold cheaper than usual. Upon returning back, they trade the coins they have bought and make service of the money to obtain new items that they really are looking for.

Read more at: When is the Correct Time to Sell Coins and Stamps Collection?

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Collecting Coins of Pakistan

Coins in Pakistan once could buy many things. But today these have almost lost their past glory. The Paisa coins are no more in use although the basic currency of Pakistan of One rupee still contains hundred paisas.

Read the following post and find some good photos of coins of Pakistan throught their various stages of evolution and probabaly demise.

Collecting Coins of Pakistan by Asma Mirza

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Coins Collecting

I think after book reading and stamp collecting, collecting coins is one of the most liked and loved hobby around the world. The hobby not only entails collecting rare and precious coins, but also its trading as well as it is also has its own monetary value.  Normally people erroneously relate coin collecting with Numismatics. Although related with coins, Numismatics basically deals with systematic study of currency, which may also include coins. Thus a Numismatist may not necessarily be a coin collector. The differentiation between a coin collector and a numismatist has therefore clarified right here in the opening, so that no ambiguity persists in a reader’s mind about the two terminologies.

Coins have always attracted the attention of the people, collectors and the numismatics since time immemorial, mainly for the reason that paper money is the invention of a much later period of history. Since coins were the first to appear to replace the barter system, the clamouring and shinning attracted all and sundry.  But its collection initially meant as wealth and not a hobby or for the fun of collecting it. We have often seen kings throwing away small cloth sacks full of gold coins to a joker or anyone who made the king laugh or made him wiser in the films and old paintings.

However, the coin collecting as hobby came much later when people started to count on the rare coins they had in their vaults. It was then the face value of the coins also started to rise. Some claim the trend of really collecting stamps came somewhere in the 14^th century. It started off with the royalty and the nobility who started collecting rare and ancient coins to impress upon others their prized treasure. It was for this reason, the coin collecting became to be known as the Hobby of the Kings, not the King of the Hobbies as some put it to elevate this hobby over others.

However as time passed, the middle class also joined in the game and started collecting coins as a hobby and pastime. This came about generally in the 18^th century and also prompted the systematic approach to study the coin history and other attributes associated with it. Thus Numismatics was born and has since then been wrongly associated with the hobby co collecting stamps. By 19^th century, the scope of coins collecting had expanded and markets and vendors appeared in every country trading the coins and also earning money out of it.

The recognition to coin collecting as a hobby came in 1962, when the first international convention for coin collectors was held in Detroit, USA. The convention was sponsored by the numismatic associations of USA and Canada.

I will add more to coin collecting in my subsequent posts.

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