Buying coins from online auction sites such as ebay can be a good way to find a bargain, but it can also be a good way to get ripped off! One of the most rampant coin-related frauds on ebay is the “graded coin value” fraud.

The graded coin value fraud works like this: The unscrupulous seller will post an auction for a coin that has been graded by a “third tier” grading service, and then claim the value of the coin according to PCGS graded values. This is frequently done in lots; you’ll see a photo of a small collection that the seller claims he inherited or bought at an estate sale. The photo will usually have several encapsulated coins in it. The seller will then link to, or quote, PCGS values for these coins as if they had been graded and encapsulated by PCGS, when in fact, the coins are greatly overgraded and in third tier slabs.

An $8,000 Coin for $400? For example, a seller will list an encapsulated 1968-D business strike Washington Quarter, graded MS-68. He will encourage potential bidders to visit the PCGS coin values page

to verify his claim that the coin is worth $8,000 in MS-68. The buyer checks PCGS, and sure enough, the 1968-D MS-68 quarter is listed, for $8,000 (the price as of this writing.) His asking price of $400 is

seemingly a bargain! After all, the coin is graded and slabbed. But there’s a problem here…

The Coin Grading Service is WHAT Company?! The problem is that the coin was graded by SGS. SGS, (Star Grading Service), is a “third tier” service that, according to its web site, “specializes in grades

60 through 70.” Apparently, these are the only grades they issue! So, a coin graded by PCGS as AU-50 would grade somewhere between MS-60 and MS-70 at Star, probably near the higher end, as my own testing indicates.

MS-68 by Any Other Name is Not PCGS MS-68 - The old saying, “A rose by any other name would smell just as sweet” does not apply to the world of coin grading! Each grading service has its own

standards, and just because SGS grades a coin MS-68 does not make it worth the same amount of money as a coin graded by PCGS as MS-68! The reason for this is that PCGS has very conservative grading standards. So the next time you see someone claim PCGS values for slabbed coins, consider the holder it’s in. If it’s not in a PCGS holder, PCGS values do not apply.

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Many people like to start a coin collection for their children, or grandchildren, as a sort of investment for them. These collections are typically held by the parent or grandparent on the child’s behalf, with the intention of giving them to the child at a certain age, or as an inheritance, although sometimes the coins are given directly to the children.

Before you start collecting coins on behalf of your kids, you should take a moment to consider a couple of points. First of all, like all investments, collecting coins costs money, so you need to determine how much you can afford to spend each year for this. Secondly, you must decide what the ultimate goal of this collection is. Are these coins meant to help put the child through college, or are they just meant to be a nice gift that hopefully has some greater future value? Is this coin collection meant as a monetary investment to be cashed in someday, or do you mean for the coins to become family heirlooms which will be passed down through the years? Or perhaps your hope is that the child will take up the coin collecting hobby someday. Depending on what your collecting goals are, and what your budget is, you’ll want to buy different types of coins.

Starting a Coin Collection on a Tiny Budget
For the sake of this discussion, we’ll consider a tiny budget to be between $50 and $100 a year. This is the type of collection where you buy something at Christmas and for the child’s birthday, and usually not at any other time. The typical coin gifts of this type are the national Mint Sets, such as the U.S. Mint’s annual Uncirculated Coins set, or the annual Proof set. These sets typically cost less than $25 for the Uncirculated sets and less than $40 for Proof. Fancier Silver Proof Sets run $50 and up.

Another popular U.S. Mint investment coin type for the person on a tight budget is the U.S. Silver Eagle. These are one full ounce silver bullion coins that are typically sold for a couple of dollars over the spot price of silver. They make a great investment if you think the price of silver will be going up. Although the U.S. Mint sells Proof Silver Eagles and specially mint-marked Silver Eagles directly to collectors through the U.S. Mint Web site, you’ll have to buy the “generic” Silver Eagles from a coin or bullion dealer. You can also find them online at auction sites like eBay and at dealers’ Web sites. I recommend buying the generic Silver Eagles if you are investing, and the Proof types if you are buying heirlooms.

Motivating a Child to Start a Coin Collection
If your primary goal is hoping that the child will someday take an interest in collecting coins, your best purchases are not the Mint Sets offered by the U.S Mint, but rather unsearched or “bulk mixed” lots of older U.S. coin types. For example, you could buy 20 rolls of mixed circulated Wheat Cents, plus the Whitman Wheat Cent Coin Folders to put the coins into. When the child is old enough, start giving them the accumulated stash, a little at a time, and see if an interest develops. Sit down with him, and show him how to look at each coin and place it in the proper spot.

Good coin types to accumulate for this kind of endeavor include Wheat Cents, Jefferson Nickels, Buffalo Nickels, Indian Head Pennies, Mercury Dimes, and pre-1965 Roosevelt Dimes. Once you start collecting silver quarters, halves and dollars, you’re getting into pricey coins that cross the line from “a starter collection for a child” to “investment quality coins.” Whatever coin types you buy, be sure to buy coin folders or albums so the youngster has somewhere to display all of his “finds” once he sorts through the rolls.

Start Collecting for a Youngster Now
If you are ready to get started with a child who wants to start a coin collection now, check out my article about How to Start a Coin Collection on $4. This article tells you how to start a coin collection on $4 (2 rolls) of nickels. You can substitute pennies, dimes, or state quarters to start a collection right out of pocket change, but be sure to get the coin folder to collect them in! Finding a new coin to fill an empty hole is most of the fun and satisfaction for coin collectors!

Be Sure Your New Coin Collection is Safe
Whether you decide to collect for investment reasons, heirloom reasons, or for the fun of it, remember to use common sense safety practices in accumulating your treasures. Do not keep investment and heirloom coins at home! Get a safety deposit box for them. Coins that the kids are actively collecting can be kept at home, but keep them stored away in drawers out of sight of visitors to your home, especially if strangers come in (such as repairmen, etc.) Once the kids lose interest in a certain folder or coin type, take them to the bank and store them in the safety deposit box until the kids ask for them again. Coins are always one of the first things burglars will grab, because they are easily sold. It never hurts to establish good collecting practices right from the start by always teaching your child to put his coins and folders away out of sight when he is done with them for the day.

You Don’t Have to Collect Coins on Your Own
If you’d like to talk to someone else who can give you some advice about what to buy, develop a realtionship with a local coin dealer. If the kids have taken an interest in a new coin collection, find a local coin club they can join, and go to the meetings with them, not only as a chaperone, but to learn more yourself about what coins make good investments and which ones are just “fun to collect.” Many coin clubs have special programs for “young numismatists.”

Every effort is made to ensure the accuracy of the information provided, and extensive research has been carried out to this end. However, I will not and cannot accept liability for the consequences of any decisions made by readers of this site.

1. The History Pages which detail the history of the individual denominations used since before the Norman Conquest up until decimalisation in 1971. The Main Index for these is on this page. There are links to the relevant Values and Pictures pages on each of the History Pages. With hammered gold coins (such as the Angel) the changes of value over time do create a problem; they are referred to under each value that they had, with links taking you from one value to the next.
2. The Decimal Coins pages which detail the history of the change to decimal coinage in 1971, and the coins issued since that time. These are now integrated into the main History Pages section.
3. The Values Pages, which detail the values of individual coins in a range of condition grades since the introduction of Milled coins during the Commonwealth. There is a Values Index Page, at present on http://www.coins-of-the-uk.co.uk/values which will help you find the value of your coins. There are links to the relevant History and Pictures pages on each of the Values pages.
4. The Pictures Pages. This is now hosted on my alternative site at http://www.ukcoinpics.co.uk. To speed up the loading of History and Values pages, pictures are confined to the pages on this alternative site. However, links to many images can be found on the History pages. There is a Pictures Index which will help you to see the many designs of UK coins. There are links to the relevant History and Values pages on each of the Pictures pages.

first try to judge their condition using the Grading Information below, and then look up your coins on the Values of UK Coins pages. This may answer your question without adding to the several messages per day that the author receives on the subject.

A proof coin is made with

By treating the die in a special way, the coins it produces have a different appearance.  Modern technology allows the high points on the coin design to be acid treated (on the die).  The background (field) design of the coin die is polished, resulting in a mirror-like look on the coin it strikes. This gives the finished coin a frosted look (frosting) on the raise parts of the design, with a mirror like finish on the background. This contrasting finish is often called “cameo”.  (See picture above.) On some older coins a cameo appearance is quite rare. The attribute “CAM”, when added to a coin’s description, means cameo appearance. “DCAM” means deep cameo, and indicates the cameo appearance is strong and easy to observe.

Proof coins are struck twice, or more!

Not only are proofs made using specially treated dies, each coin is struck two or more times by the coin die. By striking it more than once the metal is forced into all the crevices of the die, thereby giving a very fine detail to the image on the coin.  This fine detail does not appear on some non-proof coins.
Grading proofs

Today’s grading of proofs is similar to the grades used for uncirculated coins.  The attribute “PR” or “PF” stands for “proof”, and is used instead of the MS (mint state) to indicate a proof coin. Proofs (that are also un-circulated) will be graded PR 60 to PR70, with PR70 being rare or nonexistent in some cases.  Because a proof coin can be mishandled or receive wear by cleaning or handling, proof grades can extend below PR 60.  Example, a PR50 grade proof coin, is one that has had a touch of wear on the high points of the coin. Like uncirculated coins, proofs can experience toning, tarnish or darkening.

Rarity and the Cost of Proofs

Because of the extra effort, time, labor and production costs in making a proof coin, the respective government mints often sell them at higher prices.  In many instances the production of proof coins is limited.  The end result is that usually, but not always, a proof coin of the same date will be more expensive than a non-proof uncirculated.

For most United States gold and silver coins, the proofs have the same amount of precious metal in them as non-proof uncirculated coins.

Coin collecting  is the collecting or trading of coins or other forms of legally minted currency. Frequently collected coins include those that were in circulation for only a brief time, minted with errors or especially beautiful or historically interesting pieces. Coin collecting can be differentiated from numismatics in that the latter is the study of currency, though both are obviously closely related.

Coin collecting is one of the oldest of all hobbies. Hoards of ancient coins found in excavations indicate that coins were one of the first collectibles. From earliest times, people valued coins not only as a means of trading and storing wealth, but also as miniature works of art.

Coin Collecting software should be for the study of coins, not the study of software manuals. It should be a tool that enhances your enjoyment of your collection rather than forcing you through the drudgery of endless data entry. It should help your collection “Come alive” as it immerses you into a world of imagery and information. It should instill a feeling that this coin in your hand is a piece of history, not just a chunk of metal to be catalogued. Exact Change is based on a vision that is far beyond anything that coin collecting software has ever attempted before. Whether you collect a single type of U.S. coinage, or you collect coins from around the world, Exact Change provides you with the tools you need to accurately track and enjoy your collection. There are no add-ons or accessories to purchase; Exact Change includes everything you need no mater what type of coins you collect. We don’t track bean-bag dolls or beer cans; we are a group of professional programmers with a life-long commitment to numismatics.

Coin collector is an organizer program designed for the coin enthusiast. The program tracks multiple fields for each coin including Coin name, Category, Date, Grade, Denomination, Material, Size of coin, Edge, Designer, Location, Mint, coin ID#, Estimated Value, Weight, Buy Price, and Buy Date. Each field name can be customized to fit your coin collection and organizational needs. The user interface has been designed to be easy to use and to allow you to view all the information on each coin on one screen. You can also browse through your coin list, search for coins, and create print outs of your coin collection.

Do you have any coin and want to know its value? Leave a comment/question and I will do my best to find out the price and history for you.

Yes New York City caters to tourist from around the world. They intern leave their funny money behind. That is how I got this 20 English Pence in my change and most of my foreign coins.

Also those penny squishing machines are everywhere for tourist as a cheap souvenir. The T-rex one was found on the floor of the AMNH. While the M&M squished cent was from the M&M store, the line was too long to get more.

The wheat cents at the bottom were just change finds I got from the local supermarket. Another 1944 cent which makes 19 I found. Plus a 1957D that I think is a D/D/D, a mint error but it is so dirty I can’t really tell I’ll label it as a D/D.

Here are the stats…
Type/Country: 20 Pence/Great Britian
Year: 2002
Mintages: 93,360,000
Metal: Copper-Nickel
Value: $0.30 in XF

Type/Country: 1 Cent Elongated/American Museum of Natural History(T-Rex Skeleton)
Year: Made 2007
Mintages: Still in production
Metal: 0.8% copper, 99.2% zinc
Value: $0.50 costs $0.51 to make

Type/Country: 1 Cent Elongated/M&M Store NYC(Green M&M winking)
Year: Made 2007
Mintages: Still in production
Metal: 0.8% copper, 99.2% zinc
Value: $0.50 costs $0.51 to make

Type/Country: 1 Cent(1MM-019-D/D)/United States
Year: 1957D
Mintages: 1,051,342,000
Metal: 95% Copper, 5% Tin and Zinc
Value: $1.00 in fine because I can attribute it to a D/D

Type/Country: 1 Cent/United States
Year: 1944
Mintages: 1,435,400,000
Metal: 95% Copper, 5% Zinc
Value: $0.10 in VF-20

Do you have a coin and want to know its value? Leave a comment/question and I will do my best to find out the price and history for you.

History of Philippine Money

Philippine money–multi-colored threads woven into the fabric of our social, political and economic life. From its early bead-like form to the paper notes and coins that we know today, our money has been a constant reminder of our journey through centuries as a people relating with one another and with other peoples of the world.

Pre-Hispanic Era

Trade among the early Filipinos and with traders from the neighboring islands was conducted through barter. The inconvenience of barter later led to the use of some objects as medium of exchange. Gold, which was plentiful in many parts of the islands, invariably found its way into these objects that included the piloncitos, small bead-likeb gold bits considered by the local numismatists as the earliest coin of the ancient Filipinos, and gold barter rings.

Spanish Era (1521-1897)

Three hundred years of Spanish rule left many indelible imprints on Philippine numismatics. At the end of the Spanish regime, Philippine money was a multiplicity of currencies that included Mexican pesos, Alfonsino pesos and copper coins of other currencies.

The cobs or macuquinas of colonial mints were the earliest coins brought in by the galleons from Mexico and other Spanish colonies. The silver dos mundos or pillar dollar is considered one of the world’s most beautiful coins. The barilla, a crude bronze or copper coin worth about one centavo, was the first coin struck in the country.
Coins from other Spanish colonies also reached the Philippines and were counterstamped. Gold coins with the portrait of Queen Isabela were minted in Manila. Silver pesos with the profile of young Alfonso XIII were the last coins minted in Spain. The pesos fuertes, issued by the country’s first bank, the El Banco Espanol Filipino de Isabel II, were the first paper money circulated in the country.

Revolutionary Period (1898-1899)

Asserting its independence, the Philippine Republic of 1898 under General Emilio Aguinaldo issued its own coins and paper currency backed by the country’s natural resources.

One peso and five peso notes printed as Republika Filipina Papel Moneda de Un Peso and Cinco Pesos were freely circulated. 2 centimos de peso copper were also issued in 1899.

The American Period (1900-1941)

The Americans instituted a monetary system for the Philippine based on gold and pegged the Philippine peso to the American dollar at the ratio of 2:1. The US Congress approved the Coinage Act for the Philippines in 1903.

The coins issued under the system bore the designs of Filipino engraver and artist, Melecio Figueroa. Coins in denomination of one-half centavo to one peso were minted. The renaming of El Banco Espanol Filipino to Bank of the Philippine Islands in 1912 paved the way for the use of English from Spanish in all notes and coins issued up to 1933. Beginning May 1918, treasury certificates replaced the silver certificates series, and a one-peso note was added.

The Japanese Occupation (1942-1945)

The outbreak of World War II caused serious disturbances in the Philippine monetary system. Two kinds of notes circulated in the country during this period. The Japanese Occupation Forces issued war notes in big denominations. Provinces and municipalities, on the other hand, issued their own guerrilla notes or resistance currencies, most of which were sanctioned by the Philippine government in-exile, and partially redeemed after the war.
The Philippine Republic

A nation in command of its destiny is the message reflected in the evolution of Philippine money under the Philippine Republic. Having gained independence from the United States following the end of World War II, the country used as currency old treasury certificates overprinted with the word “Victory”.

With the establishment of the Central Bank of the Philippines in 1949, the first currencies issued were the English series notes printed by the Thomas de la Rue & Co., Ltd. in England and the coins minted at the US Bureau of Mint. The Filipinazation of the Republic coins and paper money began in the late 60’s and is carried through to the present. In the 70’s, the Ang Bagong Lipunan (ABL) series notes were circulated, which were printed at the Security Printing Plant starting 1978. A new wave of change swept through the Philippine coinage system with the flora and fauna coins initially issued in 1983. These series featured national heroes and species of flora and fauna. The new design series of banknotes issued in 1985 replaced the ABL series. Ten years later, a new set of coins and notes were issued carrying the logo of the Bangko Sentral ng Pilipinas.

*The above information is quoted from the Bangko Sentral ng Pilipinas website

Fifty Centavos Commemorative Coin, 1936-M
Establishment of the Commonwealth

Obverse: Facing busts of incoming Philippine President Manuel Quezon and outgoing Governor-General Frank Murphy, “Commonwealth of the Philippines”, “Fifty Centavos”
Reverse: arms of the Philippine-American Commonwealth, “United States of America”, year mark (1936)

Material: silver
Shape: round
Mintage: 20,000

This coin is one of three that commemorate the transition from protectorate to commonwealth which occured on November 15, 1935.

50 Peso Commemorative Coin (1981)
Pope John Paul II visit to the Philippines

Obverse: Bust of Pope John Paul II, “Papa Juan Pablo II”, “Pagdalaw ng Papa sa Pilipinas”, 1981
Reverse: , “Lorenzo Ruiz Martir na Pilipino”, “50 Piso”, “Republika ng Pilipinas”

Material: Silver
Weight: 27.5 grams
Diameter: 39.0 mm
Mintage: 10,000 pcs

*This post is sponsored by Frito Frio Fried Ice Cream

Piloncitos are tiny engraved bead-like gold bits unearthed in the Philippines. They are the first recognized coinage in the Philippines circulated between the 9th and 12th centuries. They emerged when increasing trade made barter inconvenient.

The term piloncito comes from the word pilon, a local sugar container that resembles the coin. They are engraved with the Brahmanic character “ma” which looks like an upside down “R”. We can only guess that this character refers to the pre-colonial kingdom of Ma-yi which is roughly the Philippines we know today.

Many piloncitos were unknowingly melted into jewelry in the past and very few exist today.