jeudi 7 août 2014

How Collectors Rate The Most Valuable Coins

By Jessica Drury


Building collections has been a favorite hobby for millions of people over the ages. Collectors enjoy the thrill of finding a new addition and they often spend a lot of time organizing and documenting their collections. It would be difficult to think of something that is not and has not been a collectable. Minted tender is still one of the favorites with some of the most valuable coins selling for millions of dollars.

There are different reasons why people like to collect minted tender. Some collectors have inherited collections and they simply continue to build the collection. They could almost be called accidental collectors. Others do it to make a profit. There can be no doubt that there are numerous coins worth money. Yet others simply collect them for aesthetic reasons. Many hobbyists spend large amounts on their collections.

Many collectors subscribe to a specific theme. Some will only collect coins made from a very specific metal. Others will focus on a specific country or period. Yet others will only want tender that has been issued by a specific mint and there are even collectors that will not want a tender that does not feature a very special theme, such as animals, plants or the faces of heads of state.

Supply and demand play a big role in determining the value of coins but this is by no means the only factor involved. Some collectors will pay much more for a specific piece missing from their collections. The condition of the tender is also important. Organizations such as the American Numismatic Association also provide grading services to collectors and dealers.

The first national mint in the United States was established in 1792, but it was only in 1794 that the first tender was produced. This was the Flowing Hair Dollar which is the most expensive coin in the world. A copy was recently sold for more than ten million dollars. This tender was minted for only two years and was replaced by the Draped Bust Dollar in 1795.

In 1933 the US minted half a million specimens of the Double Eagle. This tender was never distributed and all but two of them were melted again. This makes it the rarest tender in the world. One specimen is part of the US National Numismatic collection and the other belongs to a private collector who paid more than seven and a half million US dollars for it on open auction.

When contemplating this hobby, it is important to get expert advice. There are many websites offering valuable information but it may also be wise to join a reputable club and learn as much as possible before making any purchases. When purchasing specimens it is vital to make sure that the dealer is reputable and an acknowledged expert in the field of numismatics.

Building collections has always been a popular hobby and millions of people enjoy looking after their collections, finding new additions and learning more about the objects that they collect. Some collections of minted tender are extremely valuable but many other collectors simply enjoy the act of collecting.




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