Gold & Silver Forum - TUTORIAL: Handling Rare Coins

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TUTORIAL: Handling Rare Coins

http://www.finestknown.com/fk/images...g4coins-hd.gif

<table align="center" border="0" cellpadding="0"><tbody><tr><td width="10"> </td>  <td colspan="2"> Once you decide to become a serious rare coin collector/investor proper handling and storage of your collection will become essential. Fortunately, once you know the rules, proper storage and handling is simple.

The two major grading and authentication services we recommend to our clients, <acronym title="Professional Coin Grading Service">P.C.G.S.</acronym> and <acronym title="Numismatic Guaranty Corporation">N.G.C.</acronym>, sonically seal the rare coins they certify in inert hard plastic holders that allow for safe, efficient handling, examination and storage.

I also recommend when storing rare coins graded and certified by P.C.G.S. and N.G.C. that our clients use Intercept Shield holders and boxes. Intercept shield-holders and boxes are lightweight, inert holders that will help further guarantee the long-term safety of your coins. High humidity, air pollution, salt air and temperature extremes can sometimes adversely affect the surfaces of rare coins. Intercept shield-holders and boxes are designed to protect your coins from these environmental risks with technology developed by Lucent Technologies.

When handling raw coins, coins that have not been sonically sealed in a P.C.G.S. or N.G.C. holder, there are several hard and fast rules you must follow...

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<table border="0" cellpadding="0" cellspacing="0" width="543"><tbody><tr bgcolor="#990000"><td height="53" width="20">
</td> <td align="left" height="53" valign="bottom" width="120">http://www.finestknown.com/fk/images...hand-wash1.gif</td> <td height="53">Always wash and dry your hands thoroughly before handling any rare coins.</td> <td>
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Your hands are a breeding ground for bacteria and naturally contain oils that can damage any rare coins you might handle. Gold, silver, nickel, aluminum, zinc and copper can all be
adversely affected by these bacteria and oils. Coins that are handled over time can develop carbon spots, change in color
or even corrode. All of which will adversely affect the value
of your coins.
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<table border="0" cellpadding="0" cellspacing="0" width="543"><tbody><tr bgcolor="#990000"><td height="53" width="20">
</td> <td align="left" height="53" valign="bottom" width="120">http://www.finestknown.com/fk/images...sandwich-1.gif</td> <td height="53">Never talk or eat over or near rare coins.</td> <td>
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All it takes is a microscopic partial of saliva or food to land on
rare coins to change its appearance. Carbon spots, changes in color and even corrosion can occur. You wouldn't believe the amount of gorgeous coins I've seen ruined over the years by knowledgeable dealers and collectors who have ignored this rule.
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<table border="0" cellpadding="0" cellspacing="0" width="543"><tbody><tr bgcolor="#990000"><td height="53" width="20">
</td> <td align="left" height="53" valign="bottom" width="120">http://www.finestknown.com/fk/images...ing-coin-1.gif</td> <td height="53">Always hold a coin by its edge - never allow your fingers to touch the obverse or reverse of the coin.</td> <td>
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Over the years I've seen hundreds of very expensive coins with fingerprint and thumbprints. More often than not, even the most skilled coin care expert cannot remove these prints. The prints permanently damage and reduce the values of these rare coins.
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<table border="0" cellpadding="0" cellspacing="0" width="543"><tbody><tr bgcolor="#990000"><td height="53" width="20">
</td> <td align="left" height="53" valign="bottom" width="120">http://www.finestknown.com/fk/images...felt-pad-1.gif</td> <td height="53">When examining coins that have been graded or that are still raw, use jewelers felt pad.</td> <td>
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Drop a rare coin once and you'll never hold one again without a table and jewelers felt pad directly underneath the coin your examining. P.C.G.S and N.G.C. sonically sealed plastic holders can crack, shatter and chip if dropped. When a single mark can be the difference between a coin being worth $50,000 or $15,000 you certainly want to make sure you never take that risk!

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<table border="0" cellpadding="0" cellspacing="0" width="543"><tbody><tr bgcolor="#990000"><td height="53" width="20">
</td> <td align="left" height="53" valign="bottom" width="120">http://www.finestknown.com/fk/images...hecklist-1.gif</td> <td height="53">When examining a coin you should always have the following checklist in mind:</td> <td>
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First, make sure any coin you examine has no hole or plug.

No kidding; people have been known to put holes in rare coins and people have been known to plug these holes in an attempt to recover the numismatic value of these coins.
</td></tr></tbody></table>
<table border="0" cellpadding="0" cellspacing="0" width="543"><tbody><tr bgcolor="#990000"><td height="53" width="20">
</td> <td align="left" height="53" valign="bottom" width="120">http://www.finestknown.com/fk/images...hecklist-1.gif</td> <td height="53">When examining a coin you should always have the following checklist in mind:</td> <td>
</td> </tr> <tr> <td height="171">
</td> <td align="left" height="171" valign="top">http://www.finestknown.com/fk/images...hecklist-2.gif ALWAYS
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Second, make sure there's no rim bumps, damage or repair.

Don't buy rare coins that have rim damage. Collectors hate those coins and investors just won't buy them.
</td></tr></tbody></table>
<table border="0" cellpadding="0" cellspacing="0" width="543"><tbody><tr bgcolor="#990000"><td height="53" width="20">
</td> <td align="left" height="53" valign="bottom" width="120">http://www.finestknown.com/fk/images...hecklist-1.gif</td> <td height="53">When examining a coin you should always have the following checklist in mind:</td> <td>
</td> </tr> <tr> <td height="171">
</td> <td align="left" height="171" valign="top">http://www.finestknown.com/fk/images...hecklist-2.gif ALWAYS
</td> <td colspan="2" height="171" valign="top">

Third, make sure any coin you examine hasn't been cleaned.

Look for heavy lines and abrasions. The surfaces of the coins, whether toned or brilliant, should be original. Improper caustic cleaning has damaged valuable coins. Once you're taught by an expert, you can easily tell a cleaned coin from one that remains original. High quality rare coins should never be cleaned by anyone other than a skilled professional numismatist!
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TUTORIAL LINK

Re: TUTORIAL: Handling Rare Coins

OK, I won't open that slabbed coin.

Re: TUTORIAL: Handling Rare Coins

Good stuff. I found out that if I handle coins, eventually they loose that luster.

What really helps to bring it back is cotton balls soaked with alcohol.

Re: TUTORIAL: Handling Rare Coins

To see what a single touch can do to a coin. Take a new Lincoln cent and place your thumb on the front or obverse and see what is left behind.

The Great Ag

Re: TUTORIAL: Handling Rare Coins

First post.

If they have been handled over 50-100 years, does touching it a few times make that much of a difference?

I can only imagine how they were handled during the era that they were minted.

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by Big Mac (Post 491139)

First post.

If they have been handled over 50-100 years, does touching it a few times make that much of a difference?

I can only imagine how they were handled during the era that they were minted.

Hey, BigMac:

Welcome to GIM. We always need good members.

To answer your question, it depends. That's helpful Great Ag, thanks.

Well, it does. It depends upon the condition. Anything mint state, do not touch with bare hands. ALWAYS were cotton gloves. The only way to touch a mint state coin, if you do not have gloves is by the rim.

A coin in AU (about uncirculated) I will not touch bare handed either.

Everything else, I will touch and hold, and may even carry in my pocket. THE ONE EXCEPTION being a rare date coin. I do not want to add any other flaws to it, then already exists.

Hope this helps.

The Great Ag

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by The Great Ag (Post 491169)

Great Ag,

you've got another newb on your hands now :)

I have a basic question. I would buy silver coins as a means of trade in the event the economy tumbles. Here you are all talking about keeping coins in mint condition which certainly sounds like you have no intention of letting it touch human hands. My question is, do you plan on trading these mint condition coins for currency at a later date, or is the plan to use these coins AS currency when no strong currency remains standing? And do you have a collection of coins that could be traded on the open market, and other coins just for collecting? Does that make sense?

Re: TUTORIAL: Handling Rare Coins

Two newbees in one thread I have never seen that before. Welcome to GIM, fellows. :aetsch: :aetsch:

Re: TUTORIAL: Handling Rare Coins

Hey, Wingmaster:

Welcome to GIM. Everything you read is true in some ways. Everything you read is false in some ways. Lastly everything you read will be true and false in some ways. You figure out! I sure can't :laugh_m:

You have asked a fair question. Whether the economy tumbles or not it is good, in my opinion, to have both numismatic (high grade) and circulated coins. Here is why. Let's say the TSdoesnotHTF (TSHTF = The fit hits the shan), numismatic coins historically have performed better than their bullion counterparts. That is a 1911 St. Gaudens, double eagle in MS65 will give you a better return than a 1oz gold American eagle. This is true for silver and copper coins.

What about if the "economy tumbles" or TSHTF won't those numismatic coins be worth their bullion content? To some, yes. People will always love coins, and there will always be people who have too much money and will want to spend it on lovely collectibles, such as defunct American coinage. That, and many of the designs are quite beautiful. Thos with the money (whatever that consists of at that time) will exchange lots of it for numismatic coins.

On a side note, I do not believe the money mongers (my words for those who control the money supply and therefore politics and a host of other areas), will allow a complet a total disaster. I believe they will want the dollar to fail. We, the People, will demand something different, and sure enough, the money mongers will come through with a new currency that is backed by the land of United States. At least the federal lands at first.

Ask any questions you like. I will answer as best I can. Also, Master Ho is very knowledgabe, and Anty Ep is learning fast. I suspect RossL surpases us all, but he keeps a low numismatic profile.

The Great Ag

Quote:

Originally Posted by Wingmaster05 (Post 496537)

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by The Great Ag (Post 497607)

Thats easy.............its a Tao thing! :D

As to the rest of your post below - I think you covered that pros and cons perfectly.......and I agree - as I have said many times - while I can see the POSSIBILITY TScanHTF........I think the PROBABILITY is that it won't be as bad as everything thinks - so I am half in bullion and half in numismatic myself.......

And if TSHTF and we do not get a premium on the numismatics - I figure the price of gold will be so high, we won't care!

And thanks for the nod - I think it smart if we all understate our bullion and numismatics a bit on any site cause - regardless of how well we know or how safe we feel with those posting - we never know who is lurking and reading! (All I own is a copper slug! :wink: )

GREAT THREAD, PEOPLE!

Cheers!

Quote:

Originally Posted by The Great Ag (Post 497607)

You have asked a fair question. Whether the economy tumbles or not it is good, in my opinion, to have both numismatic (high grade) and circulated coins. Here is why. Let's say the TSdoesnotHTF (TSHTF = The fit hits the shan), numismatic coins historically have performed better than their bullion counterparts. That is a 1911 St. Gaudens, double eagle in MS65 will give you a better return than a 1oz gold American eagle. This is true for silver and copper coins.

Quote:

Originally Posted by The Great Ag (Post 497607)

What about if the "economy tumbles" or TSHTF won't those numismatic coins be worth their bullion content? To some, yes. People will always love coins, and there will always be people who have too much money and will want to spend it on lovely collectibles, such as defunct American coinage. That, and many of the designs are quite beautiful. Thos with the money (whatever that consists of at that time) will exchange lots of it for numismatic coins.

On a side note, I do not believe the money mongers (my words for those who control the money supply and therefore politics and a host of other areas), will allow a complet a total disaster. I believe they will want the dollar to fail. We, the People, will demand something different, and sure enough, the money mongers will come through with a new currency that is backed by the land of United States. At least the federal lands at first.

Ask any questions you like. I will answer as best I can. Also, Master Ho is very knowledgabe, and Anty Ep is learning fast. I suspect RossL surpases us all, but he keeps a low numismatic profile.

The Great Ag

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by Master_Ho (Post 497696)

And thanks for the nod - I think it smart if we all understate our bullion and numismatics a bit on any site cause - regardless of how well we know or how safe we feel with those posting - we never know who is lurking and reading! (All I own is a copper slug! :wink: )

Hey, Master Ho:

You are one up on me. . . I bought a copper slug once, but it turned out to be a worthless zinc slug with a copper coating! :favorites21:

I feel like such a dork! :s13:

The Great Ag

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by The Great Ag (Post 500406)

Awwwwww.............it could have been worse.........I bought a slug of platinum, paid a fortune for it........turned out to be a vanilla Necco Waffer! :banghead:

Now THERE'S one the babby boomers will get but the young Turks might not! :D

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by Master_Ho (Post 497696)

(All I own is a copper slug! :wink: )

What a co-winkadink. I just traded all my PM's for copper slugs too!
However, being the connoisseur that I am, I had them graded and slabed!

Maranatha,

:smile:

Re: TUTORIAL: Handling Rare Coins

That was an uneccessarily long winded tutorial in the handling of rare coins. The only thing you need to know is to hand it to a buyer so you can take the FRN's and buy some bullion at spot.

WTSHTF "rare" stuff will be worth just as much per ounce as an ordinary 1964 quarter.

"Here's a rare turd. You won't find one exactly like it anywhere in the world"

Re: TUTORIAL: Handling Rare Coins

Good, very good first post on start of thread.

Even taught an old hand something about the rumors I've heard.

By the way, rare coins are fun after one has his stash held close and dear and very quiet. The quiet part avoids your friends from telling his friend (some robber by accident) about your MILLION DOLLAR COLLECTION. 45% gold bullion; 45% silver bullion; 10% rare coins.

Re: TUTORIAL: Handling Rare Coins

Bump.

I think it's wise to have both kinds. Numismatics to be treasured, common bullion to be traded.

Re: TUTORIAL: Handling Rare Coins

Ok, so I love to hold some of my gold hands in my grubby paws because it makes me feel kind of tingly inside (sick, I know).

then my paws start sweating and my heart rate increases and I begin to pant.

After awhile I stop and decide to put the coins away.

Question: what does DogFarm clean the coins with?

DF

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by DogFarm (Post 747490)

Never clean coins unless you are an expert conservationist working for the high rated firms.

Read about it from NGC.

PERIOD.

Re: TUTORIAL: Handling Rare Coins

what if dogfarm was playing with his gold and suddenly started humping his safe and he made a mess? what then?

Quote:

Originally Posted by HistoryStudent (Post 747917)

Never clean coins unless you are an expert conservationist working for the high rated firms.

Read about it from NGC.

PERIOD.

Re: TUTORIAL: Handling Rare Coins

If you were buying gold coins today, which coins would you be buying? AGE? Krugs?

Just curious what would be the best coin to be purchasing and why?

I am looking to add to my collection soon and wanted some advice.

Re: TUTORIAL: Handling Rare Coins

I have a platinum coin that, stupidly I managed to drop on a carpet- I know, I know.. At least I like to think I've learnt something from that experience.

It appears to have tiny little hairs on it and I have not touched it to clean it since.. Do you think I should send it to a specialist at NGC or PCGS? It is a modern coin not dissimilar to the one in my photo.

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by Big Mac (Post 491139)

First post.

If they have been handled over 50-100 years, does touching it a few times make that much of a difference?

I can only imagine how they were handled during the era that they were minted.

I only own circulated at this time right now....... ( havent got to point where I want to pay premiums)

what I will do is take some old peace dollars and shine them up. alot of people scold me for that but my premise is simple: when I sell my silver the price will be so high no one is going to be harping about weather I polished it not. I bought it by the ounce I will sell it back by the gram.:s9:

Even in TSHTF...... rare coins will survive when a new society emerges (hope springs enternal for me) and those coins that will make it will have a premuim so massive on them it will defy anything we'll ever see but you must have the pateince of God to realize those gains.

The wisest thing to do is first acquire a good chunk of physical metal THEN work on treating yourself to some graded stuff every once in a while for giggles.Plus get well versed on the subject of Numimastics, going forward you are going to need all the education you can get because the hucksters are going be coming out the woodwork as the prices of PM's start to rise. You can almost see it now.

Bottom line: as long as you are trading those FRN for PM"s you are coming out waaaaaaaayyy ahead of the rest.

Lots of wisdom here

Welcome to GIM:ok:

T

Re: TUTORIAL: Handling Rare Coins

So what about with new SAE or Silver maples? Really, I'm buying these as tradeble bullion. Do I need to be a paranoid freak and wash my hands, individually encase each coin and never breathe on them to keep them as tradeble bullion?
I'm not a collector.

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by Wakeness (Post 951278)

Bullion is just that. As long as its recognizable as a SAE or Maple you should be fine. I however normally hold mine along the edges as they are the prettiest coins I own and if they were to get very dirty, they might lose some of their premium. Whenever I need to fondle some silver I just get out my rounds and bars!

Re: TUTORIAL: Handling Rare Coins

Another newbie here... and I had to share. My husband and I buy silver, nothing really collectible, but some bars and rounds. My 14 year old son, on the other hand is collecting. All coins, he loves it... his friends spend their money on movies and such... he is saving for a 1909 SVDB! (I am so tired of hearing, "hey mom, can I have $600?) Anyway, I was telling him about the original post on this thread and his response was "DUH... you didn't know that?" I guess he told me! I am such a proud mom, I had to share.

:s9:

Re: TUTORIAL: Handling Rare Coins

Quote:

Originally Posted by mnfarmer (Post 1109920)

Great Mom!

I collected as a kid too....didn't start again until a few years ago. Now I have enough money to buy some nice things :bull-buddy-icon:

Re: TUTORIAL: Handling Rare Coins

I bought some new 2009 Krugerrands and I believe they were touched by the dealers before I received them. Should I wipe them down with alcohol.

Should I Put each into an individual container or leave them in the original stack tube. I do not like the tube because the coins can move around in there and rub on each other. I have the same problem with a new tube of silver ASE. Should I alcohol them down also. should I put the ASE into individual containers also. How to keep them from rubbing each other.

I am shocked the dealers do not at minimum use cotton gloves to handle coins. Are the cotton gloves good for coins. Can I then touch the face with a cotton glove.

Would it be ok to dump the coins out onto a towel. I do not have a jewelry pad. How to take the entire stack out of the tube. 20 ASE in the tube stack.

Is acetone safe. It is real strong cleaner.

Thank you

I am new to all of this

Re: TUTORIAL: Handling Rare Coins

I wouldn't try to clean them. Cleaning coins should be a last resort option. Nothing wrong with acetone, I suppose. If you ever need to dry a coin, pat it dry. Wearing white gloves while handling coins never hurt anyone. I don't suggest cleaning your coins, but if you must, I suggest using the softest jeweler's polishing cloth you can find. Whatever you use, be sure it is lint free, clean, and devoid of dyes and chemicals like fabric softeners. Did your Krugerrands come in one of those neat little tubes with the holes, or the thick, customary tubes? Either way, coins in tubes can rattle around a bit. If you really want to preserve their numismatic condition (don't laugh you know-it-alls; there are a lot of Krugerrand collectors out there, amazingly), then buy individual AirTite holders or something of comparable quality. Krugerrands are the same dimensions as Gold American Eagles. DYODD. Hold the coins by their edge. Keep your breath away from them. Handle them over a soft surface in case you drop them. Etc.

Taking them out of the tubes is a delicate matter. Experience pays here, and there is no easy way to do it. Just be gentle.

Most dealers consider Krugerrands bullion, and bullion is bullion. Fingerprints, hairlines, smudges don't matter.

FYI, don't use acetone on coins with high copper-content.

Re: TUTORIAL: Handling Rare Coins

When you weigh a coin to check for fakes, do you need a .001 accuracy scale or will a .01 accuracy suffice? How much does handling affect the weight of a circulated coin? Appreciate any help.

Re: TUTORIAL: Handling Rare Coins

I'd like to just point out that as we think it is impossible to happen, twice already in history the US Government has declared ownership of Gold and Silver illegal.

I would not be surprised if this is already in the works.
:452::36_1_63: