Tag Archives: Leadership

Coin Collecting On A Small Budget

New Post from Andrew Brunhart

andrew brunhart budgetTo some coin collecting seems like an expensive and all consuming hobby. However, there are ways to collect on a budget in the United States. For example, a Lincoln Cent from 1959 and beyond has the Lincoln Memorial on it. Before that time the coin featured two wheat stalks around the words “one cent.” The wheat stalk coins were minted between 1909 and 1958 and are almost completely out of circulation. However, the Lincoln memorial version of the cents are still around and one with a small budget could easily get a blue coin book with each year and slowly fill up their collection.

A place to find coins cheaply may be in an older friend or relatives house. Many keep change jars and if you look through them you may find a few Lincoln Memorial cents and some other valuable finds.

Another, more inexpensive coin to collect is the State Quarter series. Many of these books are widely available and fun to find all fifty. If you collect all of those coins you can starts to look for the two series that followed, the Possession and the National Parks series. The fifty state series started in 1999 and included five different quarters each year. Every state quarter has something memorable from each state like a monument, flower, or something else unique about the state. All of the 50 state coins were struck in the Philadelphia and Denver Mints. Cardboard maps were also released to place a coin in each slot in its actual location on a map of the U.S. It makes a beautiful display and the total investment in collecting all 50 is only $12.50.

These are just two inexpensive ways to collect coins. However, keep in mind that any series that is in circulation is easily collectable if you keep your eye out. Look through pocket change, change jars, and keep an eye to the ground for something in a series that you might want to collect.

via Andrew Brunhart’s Coin Collecting http://ift.tt/1tjRIPp

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Time to Invest in Numismatics

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andrew brunhart numisThe coin-collecting business is on fire right now, which makes it a perfect time to invest in the hobby. What makes it simpler to join the race is that most of the auctions are online now, so you can be part of the action from the comfort of your own home.

The vice president of numismatics at Stack’s Bowers Galleries, Vicken Yegparian, says, “There’s so much fervor around coin collecting in today’s economy, because it’s so accessible to so many different people.” You are able to join the game at whatever price you can afford. For, example Buffalo Nickels can range anywhere from $50 to a few thousand. This easy entry aspect of coin collecting makes it a great option for investors. There’s no high buy in.

Additionally, the learning curve is not too steep. To be a successful collector you need to be able to appraise the price of a coin. Fortunately, this doesn’t take too long to learn. The three basic rules to live by when appraising are quality or condition, rarity, and the history of the coin. You may not know the answer to all of these questions for any given coin, but you can find the answers relatively easily. You can also make smart decisions about how to collect by gathering coins in a series. For example, the 50 State Quarters are much more valuable as a set than they are individually.

In terms of collectables, coin collecting has a great investment advantage. First is that coins are “one-offs.” Coins were produced in mass by the government, so you have other samples to compare them with as far as quality and price. Additionally, the Numismatic Certification Institute (NCI) has a system for appraising the condition of a coin so that you can verify authenticity and rarity of certain coins. And, finally, coins not only have historical value, but also intrinsic value. Whatever coin you have, it is likely worth something for some reason, so start investing!

via Andrew Brunhart’s Coin Collecting http://ift.tt/1iTqptv

Quality and Rare Coins

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andrew brunhart quality rareThe numismatic market is known for desiring, even demanding top quality coins. Auctions tend to reward coins handsomely, by bringing sky-high sums of money for those in Gem condition. However, this trend of quality-equals-quantity does not always apply to the rare coin market. Rare coins, often regardless of their condition, are the most valuable because of how rare they are. Recently, at auction, a damaged 1792 Half Disme sold for $28,000. In that case, that buyer was certainly more interested in the history of the coin than the actual physical condition. This proves that not everyone buys coins solely based on quality; there are other value measures to be considered.

Other cases of coins with poor quality that performed well at auction include 1895 Proof Morgan Dollars. Some can go for $60,000 and even with considerable wear the coins have sold for $35,000. Those who collect Morgan Dollars are not as interested in quality, their main objective is to assemble a collection with as many as possible. Collectors have increased demand for these coins in recent years and many who pursue series will make compromises with quality in order to get the coin.

Another example of a coin with low grade, but a lot of worth is the 1929 Double Eagle. Most of the Double Eagle’s were melted down in 1930, which makes the existing coins very valuable, despite poor conditions. Yet another example of a lower grade coin is the 1804 Bust Silver Dollar. A few years ago a buyer purchased a circulated silver dollar for $2,000,000. In this case, the buyer wanted the publicity associated with owning one of the greatest coins ever minted, even it wasn’t in the best conditions.

These examples stand to show that top quality coins are not everything. In the numismatic market there are plenty of valuable worn coins.

via Andrew Brunhart’s Coin Collecting http://ift.tt/1pkPtMm

Coin Collecting Tips

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Andrew BrunhartThe best way to enjoy a hobby is to become good at it. The point of a hobby is to relax, and worrying about being good every minute isn’t exactly the best way to relax. But making too many mistakes can take the fun out of any activity. So while a hobby shouldn’t involve 99% self-criticism, it shouldn’t involve 99% complacency either.

Here are some things every coin collector should remember so that coin collecting remains enjoyable for him or her.

1. Educate yourself.  Study coins and the dynamics of the coin market. Read books and periodicals. Learn, so you know the value of the coins you’re buying. Don’t get swindled.

2. Specialize.  Have boundaries that are definable, and goals that are achievable. If you specialize in Charlotte gold coinage, you can probably become an expert within a year. If you however aim for all mint U.S. coins, it could take you five years. The smaller the race; the more likely you’ll reach the finish line.

Andrew Brunhart3. Have patience.  Don’t seek to build your coin collection too quickly. You’ll end up purchasing over-priced coins and regret it later. The more you wait, the clearer you’ll think.


4. Be passionate about coin collecting. 
If you’re just collecting it for the money, it’ll be hard to stay motivated. It’ll be hard to know what’s worth being hype over. As a golden rule: you should care enough that you aren’t quickly swayed by the “expertise” of others; but rather the research of your own.

Most important of all: remember that it’s a hobby. Make sure to still have fun.

 

via Andrew Brunhart’s Coin Collecting http://andrewbrunhart.org/2013/10/24/coin-collecting-tips/

The U.S. Mint is Booming!

New Post from Andrew Brunhart

The U.S. Mint had great success, almost too much success for their own good.  The U.S. Mint had seized the sales of its 2013 American Eagle silver bullion coins.  Now there didn’t seem to be a problem with the coin, the fact of the matter is that the demand was just too high for the coin.

The record of 6,422,000 ounces sold in January 2011 was shattered by nearly 300,000 ounces (6,7000,000) which was sold between January 7th, its launch date, and January 15th.  The company took on much more demand than anticipated and resumed selling the coin around the week of January 28th.  Such a feat to break a record like this starts at the top of great business leadership.

Terry Hanlon, a frequent purchaser who buys directly from the mint and sells to bankers, coin dealers, and jewelers, has an interesting take on the situation.  His personal business is through the mint is booming.  Terry says, “We are very, very busy and we have been for the last several months. That would certainly reflect that people are worried that the financial situation in the U.S. isn’t going to get any better — so they’re buying precious metals.”

It takes a great business leader to find its niche in the market, and for a guy like Terry to be very busy in this economy today shows that he’s taking advantage of a great opportunity in the mint industry.

The U.S. Mint had a large task ahead of them in getting these coins minted and ready for sale soon.  With demand there, people were waiting to invest in these 2013 American Eagle silver bullion coins.  In the meantime, Peter Schiff, an economist and president of Euro Pacific Precious Metals, offered collectors an alternative coin to purchase.  Schiff said other coins such as the Canadian Maple Leaf silver coins are just as good despite being minted by the Canadian government.  Buyers may have been skeptical at first, but in order to continue their business, some were forced to purchase the minted coin from the Canadian government.  It was great reassurance to know that the American Eagle coins were going to minted and ready for sale again in approximately 2 weeks.

via Andrew Brunhart’s Coin Collecting http://andrewbrunhart.org/2013/10/14/the-u-s-mint-is-booming/