Coin Collecting Information

lee williams asked:


The Professional Coin Grading Service (PCGS) is a third-party appraisal service for grading rare coins. It determines the condition and authenticity of each coin it grades to provide consumers with an independent knowledgeable rating on which to judge the coin. It was founded in 1986, and is located in Newport Beach, CA.

An early PCGS slab.In the May 26 2003 edition of Coin World, the hobby newspaper had announced that they had conducted an investigation of PCGS, NGC and ANACS, three of the leading grading services along with several other grading services. In this investigation, several coins. were sent to each grading service. In no case did the grading services agree on the grade of any given coins. , and in some cases the difference in grading was seven points off (it is standard in U.S. numismatics to grade coins on a point-scale from 1 (poor) to 70 (perfect)). In one case ACCGS had graded a coin as “cleaned” and several grades lower than PCGS which PCGS had not noted was “cleaned”. However PCGS has a policy for reimbursing customers if they had wrongly attributed, wrongly authenticated, or significantly overgraded a coin.

In 1990 the FTC(Federal Trade Commission), which oversees business ethics and fraud, filed a civil action against PCGS alleging exaggerated advertising claims. PCGS did not admit wrongdoing, but agreed to submit its advertising for review for a period of five years. In a filing in Federal district court in Washington, the company agreed to include a statement in its newspaper and television advertising affirming that certification by P.C.G.S. does not guarantee protection.

Muna wa Wanjiru asked:


Coin Prices sure can vary. As coins are used as a primary form of money transaction for centuries together, nowadays there are various forms of currencies Bank Notes Paper Money Card Mony Wire transfer ,whereas in olden times barter was the main form of transaction then coins were minted and they became an integral part of transactions.

In the early century coins were usually made out of valuable metal like Gold Silver Platinum.

One of the earliest coins were produced in Lydians ,these gold coins have high historic as well as valuable metal ,so definitely these coins would be highly pirced.

Around 1933 all countries stopped using valuable metal for currency ,and the use of nickel copper became popular for making coins used as currency.

In today’s times lower denomination money coins are used and Bank notes for higher denominations. Precious metal like Gold Silver Platinum coins are now minted only for the purpose of coin collection or for Investors.

Gold Silver Platinum coins are bought as an investment, as till date investing in these kind of coins is a safe and secure investment. Coin Prices for these valuable metal coins depends on the prevailing market price of the metal.

Coin Prices of these valuable coins also depends on their weight and purity of the metal.

Rare coins or Old coins are known as collectors item, basically only a coin collector is interested in a unique rare specimen ,which has no face value but high historical value.

Generally Coin Prices are generalized on basis of its condition the coins history its origin its uniqueness and its eye catching beauty and its design.

A rare coin with historical significance, is a steal historians are always after such ancient coins as coins help us gain a lot of knowledge of our ancestors. The historical importance the date the condition of the coin the mint the uniqueness all this will be taken into account while Pricing this coin. These rare coins are very high priced as they are very few specimens of the kind.

Coin grading also plays a very significant role n Coin Prices. The better the grade higher the value. As definitely a well graded coins are certified with authenticity and would fetch a good market price for the collector.

Sometimes Coin Prices also depend on the market demand of the coin, a coin may not be old rare or even have an historical significance but still would fetch a high Coin Price s the coin has a high demand in the collectors market.

Coins Prices need not be stable ,they fluctuate sometimes depending on the economy sometimes up and down in the coin collectors market.Coin Prices have to be careful verified before ,putting your savings into them. It is always recommended to verify the coin price and buy certified coins from proper experienced people as there are very strong chances of one being duped in this market.

In Coin Prices Coin grading plays a very vital role ,as grading certifies the authenticity and the true market value of the coin. So along with other factors grading is also given up most importance while fixing the Coin Prices.

Coin Prices sure can vary!