Baby Boomer Pocket Change

Coin Terms You Might See on Ebay-What is Extra Fine?

If you ever visit Ebay to purchase or sell coins you will see a lot of different coin terms. Now,  especially if you are buying a coin you should become familiar with some of the coin terms.

So this series will share definitions of some of the terms often seen in the headlines of an Ebay Sale. So to get the ball rolling here is a title on Ebay. Let’s examine it as closely as possible.

1892 COLOMBIAN HALF DOLLAR COMMORATIVE EXTRA FINE

Wikipedia states the following :

The Columbian Exposition half dollar commemorative coin, commonly referred to as the Columbian half dollar, was minted for the Columbian Exposition1892 to 1893. It honors the 400th anniversary of Columbus’ discovery of America.

Now it is important to know that the better condition the coin is in the better the collectability. This is additional info I found on Wikipedia:

Most coins can be had in mint state grades, and can be had for a nominal sum. Due to creditors dumping many half dollars used as collateral for loans, some coins are sometimes encountered with signs of circulation wear.

So what condition is this coin in according to the title? Extra Fine

What is the Extra Fine Grade?

The definitions below are according to the Professional Grading Association.

Extra Fine

Alternate form of Extremely Fine.

Extremely Fine

The grades EF40 and 45. This grade has nearly full detail with only the high points worn, the fields rubbed often with luster still clinging in protected areas.

Of course if you would like to add to this discussion it is more than welcomed!

Tags: coin terms, extra fine, half dollar

What Does the Term BU Mean in Coin Language?

I recently saw a coin for sale on Ebay and the term used was BU. So, I found a great definition by Susan Headley who I respect very much. Read what this coin language means when it says a coin is “BU”

Tags: bu defined, coin language, coin talk

Mint Marks-What Are They

Ever wonder what those little letters were on your coins.  Many coins values are based on those little letters called Mint Marks. These letters indicate the place where your coin was produced.

If you are a beginner just learning like me just understanding what those letters mean is another notch in your coin information. So, the list below will hopefully help.

Here are the letters that are used on coins made in the United States to show where the coin was minted. I have also include the date range that coins were produced at that location.

W- West Point, New York(1984 to date)

C-Charlotte, North Carolina (1838-1861) Note: Only gold coins were minted here

D-Dahlonega, Georgia(1838-1861) Note: Only gold coins were minted here

D-Dencer(1906 to date)

O-New Orleans (1838-1909)

S-San Francisco (1854 to date)

CC-Carson City, Nevada (1870-1893) 

P-Philadelphia (1979 to date)

  Note: Many coins were made in Philadelphia but do not have the mint mark. The very fact that the mark was absent indicated that it was made in Philadelphia.  The mark was not added until 1979. No P has been used on Lincoln cents.

A wee bit of history. In 1942-1945 the- P-mint mark was used on nickels to show that they had a different metal combination that did not include nickel. This can be seen on the “tails” side which is referred to as the REVERSE of the coin.

 Is this helpful? Anything you want to add?

Tags: Mint Marks, what are mink marks

How Much Does Your Gold Weigh? How Do You Really Know?

I just found out this week that if someone brings in coins that have a precious metal value  for  redemption that the weight is measured in something called troy ounces. This measurement is different from the ounces used for food. But it is important for you to know the measurements of coins if you ever plan to cash them in.

I wish I had some to cash in but for now I must be content in knowing that I can always refer to this post. That is another  reason I set up this site in all honesty.  Check out this excerpt on Wikepedia:

The demand for precious metals is driven not only by their practical use, but also by their role as investments and a store of value. Historically, precious metals have commanded much higher prices than common industrial metals. In January 2009, gold was about $840/troy ounce and silver was about $11/troy ounce, compared to copper at $1.50/pound and nickel at $5/pound. (soure:Wikepedia)

So I am listing a couple of references for review. Why? Because if you are getting precious metal weight YOU DON’T WANT TO GET CHEATED. Believe it or not everyone is just not honest.

Troy ounces vs the ounce you you weighed your apples

News item about gold scams and how penny weights are used

How  to sell gold

Do you have anything to add?

Tags: coins, gold, silver, troy weight

What Is An Uncirculated Coin? What Is A Proof Coin?

What is an uncirculated coin?

You may hear the term “uncirculated” related to coins. I keep the image of a cute dog that is only walked outside by his or her owner. Never, ever circulates with the other dogs outside. Never sees the inside of a kennel.  Now, on an occasion that cute dog may bump into another large dog when at the Vet. This may cause some slight brusing.

Well coins that are uncirculated means that coin does not have the wear and tear of being owned by many owners or hanging out with other coins. So it looks good and kept in proper storage. But there may be some “bag marks” from when they bumped into other coins in the bag.

Do I need to say the circulated coins are dogs running with other dogs, etc?

Whereas,  Proof coins are like show dogs. They were breeded in a special way with a special diet, etc.

Proof coins are made special with special dyes.

But allow me to give some links to far better definitions.

Wikipedia says

Us Mint says

Ebay Vender Says

What do you say?

.

Tags: proof coin, uncirculated

What Is The Obverse Of A Coin

Now, as you know, every area of expertise has it’s own language. Well that also holds true in coin collection. When I first heard this term it sounded no different that hearing a carpenter talk about using a “2 by 4″.

But if you are new like me and hanging around this site reading posts or viewing some of the videos you will need to learn a few terms. Hence, I will post them and you can learn them with me.As time goes by you will be excited, like I am getting, when you hear the term mentioned by a dealer or on a video and you recognize it.

The obverse of a coin is the front, main, top, or “heads” side of a coin, usually bearing a portrait. The opposite of the reverse side.

Ok, so here is a video talking about a valuable Lincoln penny’s obverse side.

Tags: lincoln penny, obverse coin