Coin Collecting Misconceptions: Debunking Common Coin Collecting Myths
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- Опубліковано 7 чер 2024
- Welcome to the American Numismatic Association channel! Rod Gillis, ANA Education Director, is here to unravel some of the most prevalent misconceptions in coin collecting. As the go-to expert fielding calls from the public, Rod shares valuable insights to clear up any confusion and enhance your numismatic journey.
First up, Rod addresses the age-old question: should you clean your coins? While it may seem tempting to restore a worn or corroded coin to its former glory, cleaning can actually diminish its value. Rod advises caution and recommends minimal intervention, such as using distilled water and mild soap, to preserve the coin's integrity.
Next, Rod tackles the misconception of rarity. Just because a coin is unfamiliar doesn't necessarily mean it's rare. Take the case of the 1943 cent, often mistaken for silver due to its steel composition. With over a billion produced, its value remains modest despite its deceptive appearance.
Moving on, Rod dispels the notion that coin collecting is a get-rich-quick scheme. While there are exceptions, the true joy lies in the historical significance and personal enjoyment of the hobby. Don't miss out on the enriching experience by solely focusing on monetary gain.
Contrary to popular belief, coin collecting isn't just for solitary enthusiasts. Rod highlights the vibrant community of coin collectors and encourages joining local coin clubs to connect with like-minded individuals. Whether you prefer solitary pursuits or engaging discussions, there's a place for everyone in the numismatic world.
Lastly, Rod sheds light on counterfeit coins, a pervasive challenge in the hobby. Education is key to distinguishing between authentic and counterfeit coins. Utilize resources like the ANA library and consider attending courses to hone your skills in authentication.
In conclusion, Rod emphasizes the importance of education in maximizing your enjoyment of coin collecting. Explore the wealth of resources offered by the ANA and immerse yourself in the fascinating world of numismatics.
Join us in debunking myths and embracing the true essence of coin collecting with the American Numismatic Association! Don't forget to subscribe for more expert insights and tips.
Educational, good vid. Especially like the part about NOT CLEANING COINS! Too many people who are ignorant clean coins and destroy value! Good job Rod.
Coins please call me help 18682970976 whatup
O have old coins and notes
Coins for Amateurs subd your channel can I get a sub back my channel was deleted
Coins for Amateurs
People who lack information should not be categorized as being ignorant. There was a day when every one of us did not know coins shouldn’t be cleaned, as well. Some of us learn the easy way and others the hard way, but that makes us no better than those who have not yet learned. Just sayin.
The very definition of ignorant, is one lacking information/knowledge.
I’m guilty of cleaning a few of my peace dollars. I remembered I’m a lazy person, and quit. Whew, saved by lazy.
I really enjoyed your delivery. I found you informative and entertaining and all around pleasant to listen to. Thank you.
One I get all the time is : "The older it is the more it's worth, right?"
As to cleaning. I once had a guy come up to me at a show who handed me an old british penny(1800's) that was badly worn, but I could practically use it as a mirror it was so shiny.
He looked so proud too, I almost didn't have the heart to tell him that not only could I tell it was cleaned but that he completely ruined the coin.
What if you clean the coin just to look at the coin rather than to sell it.
I would advise that you first try to get an idea of the coin's value before you do anything with it, otherwise you may end up regretting what you've done.
@@numanuma20 you can but you can take a 1964 Cadillac and put Honda rims on it also if that makes you happy.
2 PIC SANAGAWER ONE DOLLAR 2000 P=1 PIC DO 2000 D MARK 1 PIC & CONTACT +8801533407030 // ALL LINCOLN ONE CENT PENNY STEEL===1944//1944 D //1943 S//=10 PIC ======2005 d // 2000 COPPAR // 2000 D // MUL COLLAR // 2015 COPPAR //2010 D COPPAR // 2021 COPPAR // 2017 D // 2020 D COPPAR // 2012 DO // 2020 D // 2020 D // 2014 D // 2014 D// 2020 D// 2015 // 2017 D // 2021 D // 2020 D// 2011 D // 2010 D// 2005 D // 2007 // 2003// 2016 D// 2016 D// 2009 D// 2018 // 2020 D// 2012 D//2016 // 2010 // 2020 // 2000// 21019 D// 2006 MULTI COLLAR // 2012 // 2021 D// 2014 BRONZO // 2019 D// 2019 D// 2017 D// 2019 D// BRONZO // 2000 BRONZO // 2012 BRONZO // 2013 D// 2012 BRONZO // 2008 D BRONZO // 2015 DO // 2014 COPPAR // 2014 D // 2012 D// 1981 COPPAR // 80% COPPAR ==6 % BRONZO =5 % STEEL PENNY 1943 S MARK// 1944 // 1944 D MARK ==10 PIC ( STEEL ) 1958 D COPPAR ==3 PIC 1999 BRONZO ==2 PIC 1937=4 PIC =1958 D =5 PIC =COPPAR 1944==3 PIC =1964==5 PIC=LINCOLN PRESIDENCY PENNY 2009 // 2009 D MARK =144 PIC 1982 COPPAR 2 PIC=1913 =1 PIC =1909 =1 PIC //=======================///1999=2 pic+1982+ 1964 d+ steel 1944+1944 d+1943 s+ 80% copper +1939+1940+ 1941/1942+1943//1944+1944 d + 1964 +1964 d+1974+ 1909+1925+2021+2021//2010//2016//2017// 2016//2000//2005//2015//2017//1948+1949 D+1948+1945 D+1974 D+1936+ 1946 D+1921 D+1941 +1939 +1982 +1948 D+ 1937+1964 D+1951 D+ 1960 D+ 1951 D+ 1998 + 1961 D+ 1962 D+ 1978+1955 D+ 1941 + 1949 S + 1939+1951+ 1940 + 1944+ 1974 D+ 1944 D+ 1945+ 1913+ 1937+1977+1966+1986+1998 D+1981+1969+1991+1988+1997 D+1981+1992+1981+1993+1987+1952D+1956D+1974 D+1977 D+1994 D+1970 D+ 1975 D+1978+1988 D+1976 MULTICOLLAR ++1964+1984 D+1973D+ 1985 D+1969 D+1983 D+1951 D+1985 D+1962 D+1958 D+1996 D+ 1980 +1960 D+ 1996 D+ 1988+1971 D+1961 D+1980 +1961 D+1980+1956 D+1978 MULTICOL;LAR ++1970 D+1974+1994+1990 D+1993 + 1979+2000+2000D+2015+2010 D+2021 +2017 D+ 2020D+ 2012 +2014 D+ 2011 D+ 2007+2005D+2003+2016 D+2009D+ 2018 +2019 D+2006 MULTICO;2008 D+2015 D+2012 D+1981 ++2013 D+2012 BRONZO+2019 D+ PLEASE HELP ME SIR . I AM ASHOK KUMAR SARKAR MY COLLATION==LINCOLN ONE CENT PENNY ALL REAR YEAR .. STEEL PENNY 1944 // 1944 D // 1943 S // PRESIDENCY 2009 // 2009 D =144 PIC = AND 200 PIC EMERGENCY SALE . MY CONTACT ashokkum3003@gmail.com ORIGINAL BUYER & OLD COIN SHOP ADDRESS,,, NEED. PLEASE HELP ME SIR. == COPPER + BRONZE+ STEEL +ZINE THANKS //STEEL PENNY 1944//1943 S==1944 D ==10 PIC===US Eisenhower Dollar==1971 == 2 PIC
Big like 1.6K my friend! Excellent video and thank you so much for sharing!
Some great guidelines for those just starting their interest in coins and want to build a great foundation! Thanks for posting this :-)
Some coins (especially ancient ones) have something called "bronze disease", and those need to be cleaned, but using a specific process (involving sodium sesquicarbonate, if I recall correctly). Otherwise, the green powder will continue to spread and eventually destroy the coin.
As a coin collector its very helpful for me...
Thank you!
Great video. My son is interested in starting this hobby & I sent this to him.
Thank you.
Another great vid. Keep them coming!
As a new coin collector i find this very helpful. Thanks you.
Thank you for sharing. I'm coins collector for few years.
Thank you for an excellent video. Great Information!
Wonderful content. Bravo!
Good afternoon, my friend. It is also interesting on the topic, we also have misconceptions in Russian numismatics, some confuse the state of coins, and someone does not study the varieties, and among the coins of the USSR this very much changes the value of coins. good luck and come visit
Great information!
Thank you for sharing. I'm collect it for its value.
What's your thoughts on just dipping your coin, pat dry and never rub?
I have an associate that said"what is the point of having money that I can't spend"and after hearing this as an numismatist I was in shock now I know that he was not a coin collecter but is that a misconception?
what is the rough definition of clean ing a coin? everything you said sounds ok but I'm not sure what is cleaning.
Thank you!
I cringe every time I see a video about coin cleaning. I hope people see this video first.
I cringe every time I see stacker videos with a bunch of half dollars I keep thinking to myself all those little kids that could have started into coins I know I did by sifting through junk silver my daughter's collection is mainly junk silver which is a term I hate I prefer constitutional silver but let's face it that's how most of us got into this marvelous Hobby
The only reason to clean coins:
You can't tell what it is
Your a idiot
or, they are just some loose change that are icky and people just want to have clean change to spend.
If you clean a not rare coin only with water and mild soap just to get rid of oils does it reduce the value?
@@Crazytesseract No.
he says people clean coins because they think it will make it more valuable....not me.. i clean mine to make them look better for me...i dont scratch them or damage them.
I got into the hobby for the history and fun of it!👍 💯
The only time I have “cleaned” a coin is when I have put a 1917 buffalo nickel that was already in bad shape in some solution. But it was only to get the date. To this day I can read the date and it looks like brand new!
nic a date?
Hello , thanks for your valuable knowledge . I'm from India can j have membership of pcgs?
Very good you can tell he is a pro I am an old man used to collect but was just in it for the pure love of it but can’t afford I don’t care about the money. Part of it
I love it im going to share this video
I know what collection for the sake of profit feels like. I've been instructed by a collector close to me to scour hobby shops frequently for one particular coin minted in 14, and after over 2,000 years that coin has yet to turn up in the hobby shops where I live.
I definitely agree, education is extremely important in the hobby.
Happy New Year 2024 !
Very good points!
I give you three more:
"Buying books about them is wasted money, better to invest it in coins."
"Buy coins and not in the correct way to store the collection"
"The direct relationship between age and price"
Greetings from Argentina!
Condition + Age = Price. Thats the circumstantial direct relationship
Thank you
this is a great video especially the part about not getting into it to get rich but some of those old counter fits can be worth quite a pretty penny too
Out in a small rural western town a got a dark colored penny in change back that turned out to be an Indian head. Someone might have found a penny on the ground and put it in their pocket and spent it at the sandwich store.
How about PVC contamination and PVC contamination removal?
The only coin I cleaned was a wheat penny. It was in a box under my bathroom sink and at one point it flooded because of a leak and it got covered with all sorts of nasty stuff. I only used water and a microfiber towel. I didn't know it was in the box or I would have put it somewhere else.
Hey I'm new to the hobby and I'm wondering what are some sites I can buy coins from.
Take a look at our "Where to Buy Coins Video"
ua-cam.com/video/Ur3JtJb3OXw/v-deo.html
Liked and subbed
I have rare early Large cents, that have PVC damage. Can I use Koinsolve, then Verdi-care, to conserve the coins?
Mike Pellerin no PCGS has a conservation process let them do it.
BareCoincc so a 1793 chain reverse large cent isn’t rare? You are what push people away from this great hobby. People can’t simply state or ask questions about coins without people like yourself having something negative to say.
Mike Pellerin yeah I agree, even if they weren’t rare he shouldn’t have said it so sarcastically, I hate seeing when other collectors are just jerks to the newbies/ even ppl who are just asking questions, love the chain cent though.
The biggest Misconeption is there is a market for resale. For the majority of coins melt value is just about all your ever going to get.
I am also a currency collector. I am collecting from 1year😊😚😚
I know better than to clean a coin...BUT, Ive always found it interesting that this has been deemed “taboo”. It would make more sense if we were talking about evasive cleaning, but Im not clear on why a general de-gunking of a coin ruins its value
You can remove dirt if its easily removed, but if its dirt that has been on the coin for years, dont remove it. Its part of the original surface layer of the coin. if you do that, it removes the original surface layer and therefore removes some value
Basically the same as bronze artworks and sculptures - the patina (the colour it goes with age and exposure to the environment) is deemed more attractive than shiny new bronze, so a cleaned and polished bronze sculpture would be viewed as less desirable. Silver acquires a black patina quite often. Even proof coins can acquire a patina, and cleaning them will definitely ruin them as collectables. Mind you, if you ruin your coin that will be one less in collectable condition, and scarcity is a driver of price, so all of the others will eventually enjoy an increase due to your sacrifice.
.
What anout 1944 steal penny ?
I have liberty one dime, mint mark D at top of 1973..i know D means Denver..but the "JS" at left side of the year what does it mean? hoping it will answer,many thanls
Probably the initials of the designer of the coin or the bust on the coin.
.
Also, I believe in case of ancient coins, there are more counterfeits than people realize, even on most professional auction places. Let's say you are capable blacksmith and artisan: how difficult would be to use genuine ancient pieces of silver (from destroyed coins) to make absolutely perfect copy of rare tetradrachm or denarius? If you can imitate entire process and the material is 100% legit, centuries old silver, it would be hard to recognize fake.
Here's a question: Is it possible to find any valuable coins from buying rolls at a bank? All the times I tried that, I didn't find anything valuable and it just seemed like a waste of time.
People are paying $5+ for W quarters, which is essentially the only way to actually make a decent amount money off of roll hunting right now. (I have an average of one per $100 searched)
Other than that, it's unlikely that you'll find coins that are worth a lot. As Rod said in the video, it's more for fun than profit.
.i will never accept that you devalue something just by taking dirt off of it.
Coins for my collection I don't clean.
Coins I pick up off the ground with the intention of spending I DO clean because 1) it helps for the cashier to know what the hell you gave them, and 2) I don't feel like getting sidewalk diseases into my body.
It is impossible to make any money at all from collecting coins. You might make some money by selling them, but that's selling not collecting. Collecting will likely cost money, unless you find your coins with a metal detector, have them given to you, or steal them. And you'd still have to buy the metal detector and batteries, possibly have to return the favor in some way to a giver, or maybe get caught, prosecuted for theft, and have to pay a fine.
.
You actually can make money by collecting coins.
One dollar gives you 100 Cents from two rolls.
You can then search for die varieties and Mint errors.
If you don't find anything special, you still have your one dollar.
If you do find a collectable die variety Cent, save it, it only costs a Cent after all.
Now, the next time you find another, keep the better condition one and then sell the other coin RAW on eBay.
Only consider having a coin graded and the variety attributed if the value of the coin surpasses 150$ US, otherwise you'll probably lose money selling it due to the fees.
In other words, spending 85$ for slabbing a 30$ coin makes zero sense.
You can make profit!
How does someone who doesn't know what to look for know if a coin is rare or valuable or not?
Google Coin Community forum.
Join or lurk.
You can learn almost anything you want to learn there.
There are many dedicated Men and Women who frequent the forum that are professionals and collectors alike in the Numismatic community.
Be patient.
A wonderful world awaits you.
Best of luck with your coins!
Collect for the history of it and if your loved ones get a few bucks from your collection after your gone that's a bonus!
There's nothing wrong with cleaning a low-value circulated coin if you want to. Are you afraid of scratching it? It's been in circulation and has a lot of scratches already. If you like the look of a polished coin, go for it. It's your coin. I wouldn't clean a coin worth $100 and I wouldn't clean a mint state coin, but 90% of my collection are low value coins taken out of circulation. Finally, the comment that cleaning a coin "destroys" its value is silly. A 1956 Lincoln cent in AU-50 condition with its patina intact is worth 15 cents. If I polished it up with copper cleaner, I could still find somebody happy to give 15 cents for my shiny well-defined wheat penny. "destroys its value"...psssh. The same applies to 50-cent Jefferson nickels, $2 Roosevelt dimes and $5 Washington quarters. Cleaning doesn't destroy anything: it lowers the value of expensive and MS coins, and has little or no effect on low-value circulated coins.
I have been hunting errors and variety’s for over 30 years and have at least 10 coins I would love to speak to you about.
What about cleaning junk silver? Since they have little numismatic value, I have occasionally cleaned some nasty ones knowing it really isn't going to affect the value at all.
look up toned coins
Why clean junk silver? Leave the dirt on there - it adds to the weight.
.
Years ago they had antique dealers at the local malls. I have seen Whitman Lincoln cent albums with the coins looking like they were cleaned. All had a shiny surface.
I found a 1938 silver penny ? I haven't seen this one before...
Deland Chen thank you i thought so.
Lucy Hernandez could have been struck on the wrong planchet. Ex. Meant for a dime but struck with penny dies.
Lucy Hernandez it’s plated very unlikely to be stuck on the wrong planchet.
i have a question somone told me that its rare i got a peny book full of coins and the 1943 coin was copper and i was very comfuesd is it rare or is it fake cuz my friend bought at ftom i shop that already cheacket at!
If it is real, it's worth tens if thousands, but there are many more fakes than reals, so it's most likely not genuine.
Ariel levy.gaming try using a magnet cuz if it sticks its fake beacuse steel is magnetic and someone must have plated it with copper. if it doesnt stick then your on the right track. then look at the 3 in the date if it extends below the other numbers then its genuine.
The 48 can be changed to 43 easily most are those only three real ones .😎
arghhh . I bought a counterfeit Morgan cc dollar once and it was silver just wrong date .I demanded my money back . Rrrrrrrr you're saying it had Value !
😍😱😍
Sorry but if it is a well-circulated common coin I will clean it but as you suggest simply distilled water and a few drops of woolite to soak it in for 5 minutes then thoroughly drying it. Why? Germs and bodily fluids that are left to sit on it may increase damage to it. But yes, use only mild soap and clean water to disinfect.
If it is a well-circulated common coin and cleaning it will make you happy, go ahead and clean it. It's your coin. If you've got a 10-cent wheat penny and you want to dip it in copper cleaner, have at it. Some people just like shiny coins.
I'm new to the coin collecting world. Why can't you just clean coins for looking at, not the value.
Chris Garner why ruin value? why cost yourself money?
It will probably look...odd. You'll have a worn down coin that's super shiny. And if you clean a coin by polishing it you'll rip the top layer of metal off, and if you look at it under a magnifying glass, i'll look all scratchy.
If you really want to and the coin is common and not valuable to begin with I guess there's not much harm per se if you're keeping it for yourself, but probably not the best habit to get into.
he says people clean coins because they think it will make it more valuable....not me.. i clean mine to make them look better for me...i dont scratch them or damage them..
Rod Gill: I just found me a penny 1995 On the face and reverse side it look like double prints on both side how could i get to you I would love for you to see this.
I saw one for sale for $1650.00 it was easy to see the doubling!
How about collecting copper pennies for future profits when they become obsolete
There has been talk about that for 50 years that I know about and remember. Don't hold your breath waiting for it...
With google I don't know anyone that wouldn't know a silver penny is steel.
Cleaning is the destruction of the history bled into that coin and all the things it has ever touched and collected through the journey that no one will ever be able to really know.. all we can do is imagine where it has been. Except dollars.. you don't wanna know what some of those dollars have seen.. "Helga's House of Pain" Never again bro..
Trust me as one who lives in NYC and seen what people wipe on their hands and onto a coin, if the coin is a circulating one I would at least use distilled water and Woolite or very mild soap to just get rid of the germy gunk --- and yes the coin does come out showing some greater details sometimes.
But no more than that as I have heard people using silver polish or scrubbing the damn thing hard. I can see how that could cause damage.
The other case of course is if the coin had been in some protection - that to me would be a definite no-no.
Solitary hobby for nerds hahaha. That was good
by that logic......if i never clean my ass i should be more appealing to the ladies ?
What a strange comment....
Unfortunate that the question of cleaning coins is incomplete. It doesn't address the widely held misconception that dipping is the same as cleaning. It's totally acceptable to dip your silver coins. Not necessarily a good idea, but it's not "cleaning" either.
I always see the coins we collect, as we are stewerts of the coins. Some day they will belong to someone else. So preserve them for future generations. Don’t clean them.
If you're agreeing with the misconception, doesnt it make it not a misconception
Some counterfeit coins are collectable!
Collecting Morgan Silver Dollars is not a hobby it's a investment, Long term, like 50 years. Cleaning them is a Hobby.
😭 I didn't know about a coin at first place I wash all my old coins to look shining cus I did like it look old I want it to look like new, given by my grandfather but some still look old ,after wash,l😔though of selling
Coin collecting is for the upmost, psycho pathic people. It’s not for the faint of heart. It’s a cruel game very cutthroat. I wouldn’t have it any other way.
I would collect only for the metal, it the metal doesn't worth it does not interest me
How am I suppose to enjoy collecting coins if I love them when they are clean and you wont let me clean them.
4:15 All just leave this right here: instagram.com/p/CHEQgFclDcf/
I bought a pitch black 1911 shilling and asked my coin guy to dip it for me. It was AU/UNC !! *~:)
Kozmic Karma Koala *N O*
Why do collectors give high value to worthless base metal coins (though they may be rare)? You say collect coins for the joy of it, and learn something. That's fine. Then why do you give more value to uncleaned rare coins? Why they are worth more? Is this not to become rich? If you clean not rare coins with only water and soap to get rid of oils, would it reduce the value?
And these are just pieces of copper, bronze, steel (incl. copper covered steel) and zinc!! I understand if it is silver and gold (and may be high quality bronze and brass), and cost hundreds or thousands of dollars. They have intrinsic value too. But giving too much value (millions of dollars) to pieces of gold, silver, bronze, copper, steel and zinc just because they are rare is foolishness.
And most Americans think American coins are everything. Just take a look outside your country.
I agree wholeheartedly --- and yes with silver gold platinum and palladium coins you should be very careful about cleaning them only because of their bullion value. It is a contradiction of American coin collecting and frustrates me much. There are some great copperbased modern coins being issued since 199 in the US and they tend to be vastly undervalued if they are in great shape. My main beef is that most American coin magazines online focus on another Morgan, Peace etc dollar that is a rare date and graded high. Quite dull.
Ofcourse is counterfeit....nobody will tell you is real if they want to buy it
I hve one of coin..
I used steel wool and backing soda on all my coins.
I cleaned some coins by watching a bullion collector's video on UA-cam. That idiot encourage new collectors to clean their coins through his video & make people like me a moron
But if he's a bullion collector, it's OK. This video is talking about coins, which should usually NOT be cleaned.
Sorry, but the arguing for dirty coin to have higher value due to hid scratches and other imperfections seems like deception to me. I understand that in case of ancient roman or medieval coins, since they are heavily corroded and fragile. But I want modern coins shining like gold. Especially if it's gold coin.
So if I buy a clean coin it is worth less until I get it Dirty. Man you are nuts. There is nothing wrong with cleaning an old scratched up coin and because of the scratches it is a "Junk" coin and the price will always be Junk Price no matter what you do to it.
Ok Rod, you seem like the type to play with coin in the bedroom. Get a room, ya freak!