This seller is a little confused, for some odd reason he thinks that this coin is in a PCGS slab. Now, I'm not expert, but I think that slabs are made of plastic. Actually, on that note, this "slab" looks more like a cardboard 2X2 holder.
Check it out for yourself- That's not a slab!
A Young Numismatist View on Numismatics
Sunday, February 27, 2011
Interview with Curator of the ANA Money Museum, Douglas Mudd
Our latest installment in the Numismatic Hub's "Minds of Numismatists" interview series is with Douglas Mudd, former manager of the National Numismatic Collection at the Smithsonian Institution. Mr. Mudd is currently the curator of the American Numismatic Association’s Edward C. Rochette Money Museum.
Numismatic Hub- As the son of an American diplomat, you spent your early years moving from country to country. How did you get involved with numismatics?
Douglas Mudd: My father was a collector of Spanish Colonial and ancient coins – so I was always exposed to coins from a very early age. By the time I was ten, when we were in Bolivia, I would accompany my dad as he visited the various coin dealers that he knew – that was when I acquired my first coin, a Spanish quartillo. Later, when we lived in Syria, I collected a few ancient Roman coins and contemporary Syrian, Egyptian and Lebanese coins.
NH: You received your BA at the College of William and Mary. How did you come to work at the Smithsonian?
DM: I graduated from W&M in 1985 and applied for a position at the Smithsonian as a Temporary Museum Technician with the MOVE project at the National Museum of Natural History. I worked there for three years packing, moving, cleaning and recording all sorts of collections from botany to mineralogy. It was a great way to learn about museums and museum collections!
NH: The National Numismatic Collection contains some of the rarest numismatic pieces in existence. You served as the Collection Manager for the National Numismatic Collection for over 14 years, what was that experience like?
DM: It was fantastic – I was really spoiled by the number and quality of the objects in the collection. From the DuPont/Michaelovich collection of Russian coins and medals to the amazing Chase Manhattan collection and the US Mint cabinet, the National Numismatic collection is just full of rare and historically invaluable items – each of which was waiting for its story to be told! There was some frustration also – it was very difficult to get exhibits done since each idea (no matter how small) had to go through a lengthy review and approval process and then had to wait for the availability of a designer and a fabricator from the exhibits department. The really frustrating part was not having the time to really get to research the collection – I was able to do a little at a time, and being the photographer (another hat I wore while working at NNC), I did get to work with a large part of the collection over the years (over 8,000 slides alone!).
NH: At the Smithsonian, you were responsible for the care, storage and security of 1.6 million items in the numismatic collection. What kind of planning goes into maintaining the integrity of the rarest numismatic items in existence?
DM: Quite a bit! The planning ranges from how to categorize and organize the objects to how to store them and complete periodic checks. With 128 coin cabinets, each with 80 drawers capable of holding up to 80 dollar-size coins – not to mention the storage for the paper money collection (over 2000 linear feet of shelving!), there is a lot to do just to keep track of everything. Some areas are easy to organize, based on how other numismatic museums and collectors organize their collections – others are not so easy – especially items like medals, where there is no standard way to organize all medals.
NH: What goes into creating an awe-inspiring numismatic exhibit?
DM: To start with, you need a theme – without it, even the greatest objects cannot make an exhibit great. It helps to have amazing objects to work with, whether they are amazing due to their rarity or value, or because of the stories they can tell through their imagery and verbiage. The biggest problem in creating an exhibit (to me) is how to tell an interesting and historically accurate story in an extremely limited space – how do you say something meaningful about Abraham Lincoln in 125 words?! Or the origins of money? The key is to stick to your theme and be as precise and concise as possible in your writing. The next most important element in a great exhibit is to have a great designer (I have been extremely lucky at the ANA to be able to work with Leslie Wigington – the best designer I have had the privilege to work with!) and, for numismatic exhibits, great images of the objects – coins are small, and it helps if you can use blow-ups of them to highlight their beauty.
NH: With the dominance of the internet and its increasing digital capabilities, do you think there is a threat to “physical” museums and exhibits?
DM: No – people will always want to see the real thing in person, especially in the case of interactive museums where you can also touch the objects. I do not see museums and the internet as competing – the internet actually vastly expands the ability of museums to reach audiences through virtual exhibits. People who would never otherwise get a chance to see a particular museum or exhibit now get the chance. Digital exhibits are a great thing for numismatics because they allow you to see objects at many times their actual size – but they also give a distorted view of them since they are not viewed at actual size – the bests of both worlds is to combine digital presentations with physical exhibits.
NH: In 2004, you joined the staff of the American Numismatic Association as the curator of the Edward C. Rochette Money Museum. What was making the move to a considerably smaller museum like?
DM: There is definitely a major difference when moving from a museum like the Smithsonian Institution with thousands of employees to a small museum like the Edward C. Rochette Money Museum, but not as big as you might suppose. Even in large museums, most departments are relatively small and often work fairly independently. The big difference is that at a small museum you will be doing multiple tasks and have fewer resources – conversely, you will not have to go through as many layers of bureaucracy to get things done! At the ANA we can get a single case exhibit done in a week from start to finish – at the Smithsonian the same case might take six months…
NH: You are an esteemed author and in your article, “Plastic Cash: A History of Money and the Credit Card in America,” you talk about the future of our currency. Do you think we will ever experience a completely “electronic” society?
DM: Not any time soon – human nature being what it is, there will still be plenty of transactions that will require cash for the foreseeable future either for reasons of privacy, or to skirt the law, or simply because the transaction is too small to warrant the expense of completing an electronic paper trail (such as at flea markets). A major overriding reason that coins and paper currency will not disappear anytime soon is that governments make a huge profit in producing currency. The U.S. makes a 93 cent profit on every dollar bill it prints! Not until governments can find a way to make an equivalent profit off of electronic transactions will they stop producing currency. (Right now, the banks are making the profits…)
NH: What has been your most momentous moment in your career?
DM: Difficult question… I have had the privilege of dealing with some very accomplished and famous people and objects in my career so far, but I guess the most momentous moment for me was the publication of my book “All the Money in the World” in 2006. It was pretty amazing to see my name in print as the author of such a beautifully produced book!
Numismatic Hub- As the son of an American diplomat, you spent your early years moving from country to country. How did you get involved with numismatics?
Douglas Mudd: My father was a collector of Spanish Colonial and ancient coins – so I was always exposed to coins from a very early age. By the time I was ten, when we were in Bolivia, I would accompany my dad as he visited the various coin dealers that he knew – that was when I acquired my first coin, a Spanish quartillo. Later, when we lived in Syria, I collected a few ancient Roman coins and contemporary Syrian, Egyptian and Lebanese coins.
NH: You received your BA at the College of William and Mary. How did you come to work at the Smithsonian?
DM: I graduated from W&M in 1985 and applied for a position at the Smithsonian as a Temporary Museum Technician with the MOVE project at the National Museum of Natural History. I worked there for three years packing, moving, cleaning and recording all sorts of collections from botany to mineralogy. It was a great way to learn about museums and museum collections!
NH: The National Numismatic Collection contains some of the rarest numismatic pieces in existence. You served as the Collection Manager for the National Numismatic Collection for over 14 years, what was that experience like?
DM: It was fantastic – I was really spoiled by the number and quality of the objects in the collection. From the DuPont/Michaelovich collection of Russian coins and medals to the amazing Chase Manhattan collection and the US Mint cabinet, the National Numismatic collection is just full of rare and historically invaluable items – each of which was waiting for its story to be told! There was some frustration also – it was very difficult to get exhibits done since each idea (no matter how small) had to go through a lengthy review and approval process and then had to wait for the availability of a designer and a fabricator from the exhibits department. The really frustrating part was not having the time to really get to research the collection – I was able to do a little at a time, and being the photographer (another hat I wore while working at NNC), I did get to work with a large part of the collection over the years (over 8,000 slides alone!).
NH: At the Smithsonian, you were responsible for the care, storage and security of 1.6 million items in the numismatic collection. What kind of planning goes into maintaining the integrity of the rarest numismatic items in existence?
DM: Quite a bit! The planning ranges from how to categorize and organize the objects to how to store them and complete periodic checks. With 128 coin cabinets, each with 80 drawers capable of holding up to 80 dollar-size coins – not to mention the storage for the paper money collection (over 2000 linear feet of shelving!), there is a lot to do just to keep track of everything. Some areas are easy to organize, based on how other numismatic museums and collectors organize their collections – others are not so easy – especially items like medals, where there is no standard way to organize all medals.
 |
| An exhibit from the Smithsonian coin exhibit |
NH: What goes into creating an awe-inspiring numismatic exhibit?
DM: To start with, you need a theme – without it, even the greatest objects cannot make an exhibit great. It helps to have amazing objects to work with, whether they are amazing due to their rarity or value, or because of the stories they can tell through their imagery and verbiage. The biggest problem in creating an exhibit (to me) is how to tell an interesting and historically accurate story in an extremely limited space – how do you say something meaningful about Abraham Lincoln in 125 words?! Or the origins of money? The key is to stick to your theme and be as precise and concise as possible in your writing. The next most important element in a great exhibit is to have a great designer (I have been extremely lucky at the ANA to be able to work with Leslie Wigington – the best designer I have had the privilege to work with!) and, for numismatic exhibits, great images of the objects – coins are small, and it helps if you can use blow-ups of them to highlight their beauty.
NH: With the dominance of the internet and its increasing digital capabilities, do you think there is a threat to “physical” museums and exhibits?
DM: No – people will always want to see the real thing in person, especially in the case of interactive museums where you can also touch the objects. I do not see museums and the internet as competing – the internet actually vastly expands the ability of museums to reach audiences through virtual exhibits. People who would never otherwise get a chance to see a particular museum or exhibit now get the chance. Digital exhibits are a great thing for numismatics because they allow you to see objects at many times their actual size – but they also give a distorted view of them since they are not viewed at actual size – the bests of both worlds is to combine digital presentations with physical exhibits.
NH: In 2004, you joined the staff of the American Numismatic Association as the curator of the Edward C. Rochette Money Museum. What was making the move to a considerably smaller museum like?
DM: There is definitely a major difference when moving from a museum like the Smithsonian Institution with thousands of employees to a small museum like the Edward C. Rochette Money Museum, but not as big as you might suppose. Even in large museums, most departments are relatively small and often work fairly independently. The big difference is that at a small museum you will be doing multiple tasks and have fewer resources – conversely, you will not have to go through as many layers of bureaucracy to get things done! At the ANA we can get a single case exhibit done in a week from start to finish – at the Smithsonian the same case might take six months…
NH: You are an esteemed author and in your article, “Plastic Cash: A History of Money and the Credit Card in America,” you talk about the future of our currency. Do you think we will ever experience a completely “electronic” society?
DM: Not any time soon – human nature being what it is, there will still be plenty of transactions that will require cash for the foreseeable future either for reasons of privacy, or to skirt the law, or simply because the transaction is too small to warrant the expense of completing an electronic paper trail (such as at flea markets). A major overriding reason that coins and paper currency will not disappear anytime soon is that governments make a huge profit in producing currency. The U.S. makes a 93 cent profit on every dollar bill it prints! Not until governments can find a way to make an equivalent profit off of electronic transactions will they stop producing currency. (Right now, the banks are making the profits…)
NH: What has been your most momentous moment in your career?
DM: Difficult question… I have had the privilege of dealing with some very accomplished and famous people and objects in my career so far, but I guess the most momentous moment for me was the publication of my book “All the Money in the World” in 2006. It was pretty amazing to see my name in print as the author of such a beautifully produced book!
Friday, February 11, 2011
Interview with Co-Chairman of Heritage Auctions, Jim Halperin
Jim Halperin is the Co-Chairman of Heritage Auction Galleries (http://www.HA.com/), the world’s largest collectibles auctioneer and third largest auction house. Heritage was established in 1976, and today does more than $600 million in annual sales and boasts more than 500,000 registered online members.
Numismatic Hub: By the time you were 15, you had already established a flourishing business. Would you say that you possessed something that other kids your age didn’t?
Jim Halperin: Yes, I was an unusually ambitious and focused kid, which is not as wonderful as it sounds. Another description would be relentless. Luckily, I was also blessed with understanding parents. I couldn’t have been an easy child to raise, though by now they have forgiven, and largely forgotten, all the grief I put them through.
NH: Starting numerous businesses before entering college is unquestionably an astounding accomplishment. Would you consider yourself to be “Jim Halperin, the entrepreneur,” or “Jim Halperin the collector?”
NH: After receiving an early acceptance to Harvard College and studying there for three semesters, you took a permanent leave of absence to pursue your numismatic career. What was it like to make that integral decision?
JH: It was hard on my dad, but an easy decision for me. I couldn’t seem to attract a girlfriend at Harvard no matter how hard I tried, hated sitting through lectures, and loved buying and selling coins to and from all the dealers in Boston.
NH: In 1982 you formed a merger with Steve Ivy, who at the time owned the Steve Ivy Rare Coin Co. Upon forming the merger, did you ever conceive that Heritage would grow into the third largest auction house in the world?
JH: No. But I knew we’d be very successful at something!
NH: In 1984, you and your partner, Steve Ivy, formed the Numismatic Certification Institute (N.C.I) in an attempt to standardize coin grading. The concept became the inspiration for the formation of the top grading companies today. Why didn’t N.C.I continue to flourish?
JH: PCGS developed a better product. Also, PCGS’s founder David Hall, whether accidentally or by design, tightened the grading standard (though that standard eventually loosened some years after we closed down. NCI and many NCI coins were subsequently graded the same or higher by PCGS). Our problem was that telemarketers began to overcharge for NCI-graded coins. Even though we had very specific disclosure on the back of every NCI certificate, many of telemarketers were still selling NCI coins at Grey Sheet prices, which were now based on PCGS standards. No one forced us to close NCI, which was still very profitable, but Steve and I realized this sort of activity wasn’t good for the coin business in the long run, so we decided we wanted no part of it.
NH: “How to Grade U.S Coins” is a book that you authored, why was it so instrumental in changing the way coins are graded today?
JH: Nobody had really tried to articulate the thought processes of U.S. coin dealers looking at and evaluating mint state and proof coins. A lot of people could have written that book; I just happened to be the first one to attempt it.
NH: Heritage Auctions has grown into the world’s largest collectibles auctioneer and has auctioned some of the rarest and unique items in existence. Out of all of the auctions facilitated by Heritage, which would you say was your favorite?
JH: That’s easy, too: Our first Platinum Night auction, which took place at FUN in January 2004, because it was such a game changer. Just to give you an idea of the effect it had on our position in the auction business, consider that before that sale HA, though already the leading numismatic auctioneer, had never auctioned a seven-figure coin. Yet from January 2004 through today (January 16, 2011), 13 U.S. coins have sold at auction for $1.6 million or more – and HA auctioned all 13 of them!
NH: What is HA doing to continue its dominance in the industry into the future?
JH: It’s all about bringing more buyers to our auctions, which creates higher prices. We attract more buyers by leveling the playing field between experts and beginners, and by saving buyers time. I figure if educated buyers are willing to pay over market for a rare coin or other valuable object because they really want it right now, that’s great. But if someone overpays because he or she was tricked or not given unbiased information, our entire industry risks losing that buyer forever.
NH: The numismatic industry has undoubtedly changed in the past ten years, where do you see the industry heading in the next ten years?
JH: Technology and competition will continue to drive bigger volume and lower margins. We embrace that trend, because we want to help even the busiest collectors buy more intelligently. Thus, their hobby can also be a good investment, and more mainstream buyers will be attracted to our field through word of mouth.
I remember when I was back in Boston in the late 1970s, our neighbor, Fidelity Investments, was attempting to bring stock market investing into the mainstream through lower friction costs and more accessible information. Now HA wants to do the same for coins, though on a somewhat smaller scale, of course. I believe that if numismatics becomes a safer, easier and more transparent market, more and more people will buy coins as an asset diversification, creating significant wealth and helping our entire industry prosper.
NH: Your private collection of collectibles is truly extraordinary; are you able pick your favorite piece?
JH: Yes, Harvey Kurtzman’s original cover art for the first issue of MAD Magazine. I actually bought the border and logo separately, and reassembled the cover. It’s hard to think of a more seminal piece of popular culture artwork.
NH: Can you tell us what you consider to be your most momentous moment in your numismatic career?
 |
| Jim Halperin |
Numismatic Hub: By the time you were 15, you had already established a flourishing business. Would you say that you possessed something that other kids your age didn’t?
Jim Halperin: Yes, I was an unusually ambitious and focused kid, which is not as wonderful as it sounds. Another description would be relentless. Luckily, I was also blessed with understanding parents. I couldn’t have been an easy child to raise, though by now they have forgiven, and largely forgotten, all the grief I put them through.
NH: Starting numerous businesses before entering college is unquestionably an astounding accomplishment. Would you consider yourself to be “Jim Halperin, the entrepreneur,” or “Jim Halperin the collector?”
JH: Jim Halperin, the entrepreneur, definitely. Collecting is a hobby, though I justify it in my mind as an investment, too. Also as market research!
JH: It was hard on my dad, but an easy decision for me. I couldn’t seem to attract a girlfriend at Harvard no matter how hard I tried, hated sitting through lectures, and loved buying and selling coins to and from all the dealers in Boston.
NH: In 1982 you formed a merger with Steve Ivy, who at the time owned the Steve Ivy Rare Coin Co. Upon forming the merger, did you ever conceive that Heritage would grow into the third largest auction house in the world?
JH: No. But I knew we’d be very successful at something!
NH: In 1984, you and your partner, Steve Ivy, formed the Numismatic Certification Institute (N.C.I) in an attempt to standardize coin grading. The concept became the inspiration for the formation of the top grading companies today. Why didn’t N.C.I continue to flourish?
JH: PCGS developed a better product. Also, PCGS’s founder David Hall, whether accidentally or by design, tightened the grading standard (though that standard eventually loosened some years after we closed down. NCI and many NCI coins were subsequently graded the same or higher by PCGS). Our problem was that telemarketers began to overcharge for NCI-graded coins. Even though we had very specific disclosure on the back of every NCI certificate, many of telemarketers were still selling NCI coins at Grey Sheet prices, which were now based on PCGS standards. No one forced us to close NCI, which was still very profitable, but Steve and I realized this sort of activity wasn’t good for the coin business in the long run, so we decided we wanted no part of it.
NH: “How to Grade U.S Coins” is a book that you authored, why was it so instrumental in changing the way coins are graded today?
JH: Nobody had really tried to articulate the thought processes of U.S. coin dealers looking at and evaluating mint state and proof coins. A lot of people could have written that book; I just happened to be the first one to attempt it.
 |
| Obtained by Joseph J. Mickley. Sold at auction for $3,725,000 by Heritage Auction Galleries, May, 2008, as part of the Queller Family Collection |
NH: Heritage Auctions has grown into the world’s largest collectibles auctioneer and has auctioned some of the rarest and unique items in existence. Out of all of the auctions facilitated by Heritage, which would you say was your favorite?
JH: That’s easy, too: Our first Platinum Night auction, which took place at FUN in January 2004, because it was such a game changer. Just to give you an idea of the effect it had on our position in the auction business, consider that before that sale HA, though already the leading numismatic auctioneer, had never auctioned a seven-figure coin. Yet from January 2004 through today (January 16, 2011), 13 U.S. coins have sold at auction for $1.6 million or more – and HA auctioned all 13 of them!
NH: What is HA doing to continue its dominance in the industry into the future?
JH: It’s all about bringing more buyers to our auctions, which creates higher prices. We attract more buyers by leveling the playing field between experts and beginners, and by saving buyers time. I figure if educated buyers are willing to pay over market for a rare coin or other valuable object because they really want it right now, that’s great. But if someone overpays because he or she was tricked or not given unbiased information, our entire industry risks losing that buyer forever.
NH: The numismatic industry has undoubtedly changed in the past ten years, where do you see the industry heading in the next ten years?
JH: Technology and competition will continue to drive bigger volume and lower margins. We embrace that trend, because we want to help even the busiest collectors buy more intelligently. Thus, their hobby can also be a good investment, and more mainstream buyers will be attracted to our field through word of mouth.
I remember when I was back in Boston in the late 1970s, our neighbor, Fidelity Investments, was attempting to bring stock market investing into the mainstream through lower friction costs and more accessible information. Now HA wants to do the same for coins, though on a somewhat smaller scale, of course. I believe that if numismatics becomes a safer, easier and more transparent market, more and more people will buy coins as an asset diversification, creating significant wealth and helping our entire industry prosper.
NH: Your private collection of collectibles is truly extraordinary; are you able pick your favorite piece?
JH: Yes, Harvey Kurtzman’s original cover art for the first issue of MAD Magazine. I actually bought the border and logo separately, and reassembled the cover. It’s hard to think of a more seminal piece of popular culture artwork.
 |
| Cover of first issue of MAD Magazine. Image: EC Publications |
NH: Can you tell us what you consider to be your most momentous moment in your numismatic career?
JH: Launching HA’s first interactive bidding web site (HeritageCoin.com) in 1998, alongside an amazing team of programmers and developers.
Sunday, February 6, 2011
"What NOT to do on eBay"- Gloves Please!
A rule of thumb to remember while handling coins (no pun intended) is to never touch the fields of the coin. Any time you pick up a coin it should be by the coins rim. Failure to properly hold a coin will result in unsighlt fingerprints all over the coin and can greatly decrease the value of the coin.
If you don't trust yourself to properly hold a coin, pick up some cotton gloves to wear. This way, you really don't have to worry about ruining a coin.
Please don't be like the owners of these coins, who clearly do not know the first thing about proper coin handling! Auction 1 Auction 2
If you don't trust yourself to properly hold a coin, pick up some cotton gloves to wear. This way, you really don't have to worry about ruining a coin.
Please don't be like the owners of these coins, who clearly do not know the first thing about proper coin handling! Auction 1 Auction 2
Saturday, February 5, 2011
"What NOT to do on eBay"- USA! USA! USA!
Politics, for many, can turn into hot headed argument in a matter of seconds and political figures often face scrutiny from those who oppose them.
Basically everybody associates with one political party or another, so what is a better way to show your love towards your favorite politician than a colorized version of their face on a quarter!?
These lovely pieces come from a "Top Rated Seller" with 100% positive feedback, who is selling a lot of colorized items. These items are currently at .01, which may be considered a bargain to some, but I doubt they will bring more than a dollar each. You can follow one of the auctions here- USA! USA! USA!
Basically everybody associates with one political party or another, so what is a better way to show your love towards your favorite politician than a colorized version of their face on a quarter!?
These lovely pieces come from a "Top Rated Seller" with 100% positive feedback, who is selling a lot of colorized items. These items are currently at .01, which may be considered a bargain to some, but I doubt they will bring more than a dollar each. You can follow one of the auctions here- USA! USA! USA!
Friday, February 4, 2011
"What NOT to do on eBay"- Is that a black hole?
When selling on eBay, one of the key components to the perfect listing is the picture. The picture aspect of the listing can make or break the sale and directly effect the sale price of the coin.
Taking beautiful pictures of your coins for your listing can be quite difficult, but you don't have to be a professional photographer to take a decent picture. With a little time and patience, you can take a pretty decent picture with a point and shoot camera or even use a scanner!
As you get ready to take that picture for your listing, please don't be like this seller- Black Hole
The seller describes the coin as being in "good condition," but you cannot tell anything about this coin from the picture!
Remember, you can have the most beautiful coin in the world, but if you can't take a picture of it, the value of the coin on eBay is severly less!
Taking beautiful pictures of your coins for your listing can be quite difficult, but you don't have to be a professional photographer to take a decent picture. With a little time and patience, you can take a pretty decent picture with a point and shoot camera or even use a scanner!
As you get ready to take that picture for your listing, please don't be like this seller- Black Hole
The seller describes the coin as being in "good condition," but you cannot tell anything about this coin from the picture!
Remember, you can have the most beautiful coin in the world, but if you can't take a picture of it, the value of the coin on eBay is severly less!
Thursday, February 3, 2011
"What NOT to do on eBay"- STOP SHAKING THE CAMERA!
Picture This- You have a beautiful coin that you want to sell on eBay, yet you need to start making dinner for your hungry family. You decide that in the midst of boiling water for some pasta, you'll whip out your point and shoot camera and take pictures of the coin. As you are about to to take your first picture you see the water boiling over the pot. You quickly take a picture of both sides of the coin and run over to the stove, successfully deterring the water from boiling everywhere. Proud to have graciously multi tasked, you create the eBay listing and sit down to a delicious meal with your family.
Now, I'm not saying that this was the case in this situation
but c'mon you can't even see the coin! What Is That?
By the way, here's what the coin is supposed to look like:
Wednesday, February 2, 2011
"What NOT to do on eBay"- Lucky Penny
"Find a penny, pick it up. All day long, you'll have good luck." Everyone has probably heard this rhyme and has found themselves picking up that "heads up" penny with the hopes of gaining some good luck.
I think picking this penny up might actually give you bad luck instead of good luck!
The seller describes this "error coin" as having "trully incredible amounts of errors." Clearly this is not the case. This coin suffered some heavy post mint damage and is not an error coin at all. I feel like someone should tell this seller what he really has and save him some of the trouble!
You can follow the auction here- Lucky Penny
I think picking this penny up might actually give you bad luck instead of good luck!
The seller describes this "error coin" as having "trully incredible amounts of errors." Clearly this is not the case. This coin suffered some heavy post mint damage and is not an error coin at all. I feel like someone should tell this seller what he really has and save him some of the trouble!
You can follow the auction here- Lucky Penny
"What NOT to do on eBay"- $15 for THAT!?
If you're going to take the time to create an eBay listing, shouldn't you know what your trying to sell?
The answer is undoubtedly yes, but that isn't the case with this listing- $15 For That!?
I'm going to go out on a limb and say that the seller assumes he has a silver quarter, which is not the case. Washington quarters were minted in silver from 1932 until 1964. In 1965, the composition of the Washington quarter was changed to its current composition of .750 copper, .250 nickel bonded to a pure copper core.
Now even if the coin in the auction was silver, it's melt value would only be about $5, making it's $15 starting price just a ridiculous amount of money.
The answer is undoubtedly yes, but that isn't the case with this listing- $15 For That!?
I'm going to go out on a limb and say that the seller assumes he has a silver quarter, which is not the case. Washington quarters were minted in silver from 1932 until 1964. In 1965, the composition of the Washington quarter was changed to its current composition of .750 copper, .250 nickel bonded to a pure copper core.
Now even if the coin in the auction was silver, it's melt value would only be about $5, making it's $15 starting price just a ridiculous amount of money.
Tuesday, February 1, 2011
"What NOT to do on eBay"- Is There a Doctor in the House?
Alright, I'm going to cut to the chase here. Coin Doctoring is bad! Coin doctors have become increasingly active in recent years. What these "doctors" do is tamper with coins, to make them appear better-and more valuable-than they really are.
Natural toning happens over time and is the result of the metal naturally reacting to its environment. In the past couple of decades, we have seen outrageously toned coins commanding outrageous amounts of money.
"Doctors," fueled by greed, continually try new methods of artificially toning coins. Most of the time, these coins are easily recognizable and you should stay AWAY from them.
Usually coin doctors are discreet about their craft, but this guy is out in the open! I actually can not believe this auction, you can check it out here- Are You Kidding Me?
Natural toning happens over time and is the result of the metal naturally reacting to its environment. In the past couple of decades, we have seen outrageously toned coins commanding outrageous amounts of money.
"Doctors," fueled by greed, continually try new methods of artificially toning coins. Most of the time, these coins are easily recognizable and you should stay AWAY from them.
Usually coin doctors are discreet about their craft, but this guy is out in the open! I actually can not believe this auction, you can check it out here- Are You Kidding Me?
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