On Mints and Mint Marks

With so much information and beauty contained in soFrancesco Petrarca, or Petrarch, who is often called
small a package, it is no surprise that coin collectingthe father of the Renaissance.
has been a hobby nearly as long as the concept ofThe Philadelphia mint used no mint mark until 1980,
coins themselves. The history of gold coins dates aswhen it started stamping coins with tiny P's. Yet
far back as 2,700 years ago. The first gold coins insomehow, a small number of dimes minted in 1982
the world were issued in Lydia around 640 B.C.were a throwback to the time before the mint mark,
certain internet websites will provide you with a lotand bear no letter P.
of information about the history of gold coins.As you become a more experienced coin collector
Australia reveres its national animal with the Goldyour "eye" will mature and you'll be looking more
Kangaroo, for example, while China has a Gold Pandaclosely at details like the lettering on a coin, making
with a lovely design that changes every year.sure the letters are still clear and not worn down.
Collectors covet the unusual and uncommon above allCoin collecting for investment purposes can be a
else, and these minor oversights result in a verytricky endeavor.
limited number of coins. This means that supply isAll too often, new coin collectors who try to go it on
much lower than demand, and even something thattheir own without professional help end up being
looks almost exactly like a common penny canscammed out of hundreds or thousands of dollars.
actually be a precious rare coin. Coins can lose their3. The blanks then are softened by running them
brightness over time, and you'll be tempted to polishthrough an annealing furnace, through tumbling
them. The best advice is ... DON'T.barrels, and then through revolving cylinders
Learning what to look for, how to identify qualitycontaining chemical mixtures to burnish and clean the
items, how to use the lingo, and how to establish ametal.
fair price will make the hunt that much more exciting.4. The blanks then are washed and placed into a
One thing is for certain, there isn't a coin collector outdrying device, then into the "upsetting" machines,
there who will stop collecting just because the pricesthat produce the raised rim.
have risen a little and probably the same amount will5. The Final stage: "coining press". Each blank is clasp
consider selling their prize collection to the highestinto position by a collar or ring as it is being struck or
bidder. Commemorative coins are a popular form ofhit under great pressure. Pennies need
collection, as are rare minted coins like those whichapproximately40 tons of pressure and the larger
had an error in their stamping. If a certain set ofcoins need more. The "upper and lower dies" are
coins doesn't interest you, it won't be any fun at allstamped simultaneously on the two sides of each
to become a collector.coin.
Coin dealers will also be more likely to recognize aThe design:
counterfeit coin, have a higher chance of hearingThe "Director of the Mint" chooses the design and
about the sale of the specific rare coins that interestpattern for United States coins, then that is
you, and will recognize an asking price that is over- orapproved by the "Secretary of the Treasury";
undervalued. As an investor, these are all criticallycongress can recommend and suggest a design. The
important points for your success.design then can not be changed for twenty five
On Mints and Mint Marksyears unless directed by the congress.
Mint Marks are tiny letters referring to the localityAll emblems of United States coins minted currently
where the minting of coins took place. The positionrepresent previous presidents of the United States.
of mint mark can be found typically on the back sidePresident Lincoln is on the one-cent coin, adopted in
of coins that were minted before the year 1965 andthe year1909; Washington on the 25 cent coin that
on the front after the year 1967.was minted first in 1932; Jefferson on the five cent
Coins of every US mint branch are recognized bycoin in 1938; Franklin Roosevelt on the dime,
mint marks. These coin marks date back to ancientintroduced in the year1946; Kennedy on the half
times in Rome and Greece.dollar that was first minted in 1964.
The "Director of the Mint", through the "Act of MarchThe "Act of 1997" known as the "50 States Quarters
3, 1835", set rules to classify and distinguish the coinsProgram" supports and allows the redesigning of the
released from every US Mint branch. This corequarters - the reverse side is to show each of the
management set accurate standards and pattern offifty states emblems. Every year starting in 1999 and
production as well as responsible coinage. Coins thatuntil 2008, coins honoring five states, having designs
minted at the "Philadelphia mint" earlier than the yearthat are created by each state, will be issued in the
1979 have no mint marks. So it was in that year thatsequence or manner in which each state signed the
the dollar was marked with the letter P and otherConstitution.
denominations had that same mark thereafter. AllThe phrase "In God We Trust" was used first in
dies for US coins are produced at the "Philadelphia1864, on a United States two-cent coin. It then was
Mint" and prior to shipping the coins to their mintseen on the quarter, nickel, half-dollar, silver dollar and
branch, coins are marked first with the correct andon the $10, $5 and $20 in 1866; in 1909 on the
designated mint markings. The precise size andpenny, in 1916 on the dime. Today, all United States
positioning of the coins' mint mark can slightly vary;coins carry the motto.
this is influenced by how deep the punch wasThe collection of ancient, commemorative, and rare
impressed and where.coins is a fun and exacting hobby, and opens up a
The importance of mint marks:realm of history that most people never get to see.
Collectors can determine the value of a coin thoughAn avid coin collector will be able to tell you virtually
mint mark, date and condition examination, makingevery piece of history that surrounds any coin in
the coins condition the most significant factor andtheir collection both because they tend to specialize
standard when determining its value. Defining the Mintand because knowledge is one of the most
which hit the coin is tremendously important inimportant factors when it comes to starting and
determining the value of the coin; the coin can be hitmaintaining a collection of any value or worth.
in huge quantities at a single Mint or in smallerPerhaps one day the coin you bought last year will
quantities in another hit.have gone up in value, but the idea is to buy it so
The process of minting:you can enjoy it now, and for as long as you own it.
1. The making of metal strips in the correct thickness:Hobbyists usually start collecting coins from their own
Zinc strips are used for pennies, alloy stripslocality. This makes sense because they are the
composed of nickel (25%) and nickel (75%) for nickeleasiest to collect. These hobbyists then expand their
and dollars, half-dollars, dimes, half-dimes arecollection to coins from increasingly farther and earlier
fabricated from a fusion of three coatings of metals;origins.
the external layer are alloys and the center is copper.And while the rarest and finest of all rare coins have
2. These strips of metals are then put into "blankingreached stratospheric prices, what does this leave
presses" that are responsible for cutting "roundthe rest of us? Not much, unless you are willing to do
blanks", approximately the dimension of the "done"a little work. Always be on the lookout for rare gold
coin.coins, and have coins appraised by a gold coin expert
But as time goes by, the number of these coins goto avoid large differences in price. American coins
down. Some get lost and some are damaged beyondhave undergone several changes in material. For
recognition.example, during World War II, pennies were made
Everybody wants to make sure that theirout of steel, because copper was needed for the
investment is protected, but there are nowar effort.
guarantees, especially in rare coins. In fact, some rareRemember that most gold coins are worth more
coins take years to appreciate to the point of beingthan their legal tender amount. Although they re not
able to sell it profitably.available for purchase directly from the U.S. Mint,
The Gold Eagle features a representation of LadyAmerican Eagle can be commonly found for sale in
Liberty striding with torch in hand through a field ofcoin shops, on the internet, by gold dealers, and at
light rays on its front side.coin shows. You can get a silver locating device or a
For most gold coin collectors, there are the highlymagnetic pole for finding loose coins in ditches, under
coveted rare gold coins and a lot of gold coincars, or in other hard-to-reach places. Or simply rely
collectors are interested in these rare gold coins thaton your eyes to identify those gleaming metal circlets
they will offer high bids just to be able to get theirof potential wealth.
hands on these. Coin Collection in Renaissance TimesDuring the Renaissance, popes and nobility began
Modern coin collecting, where the coins are viewed ascollecting coins for their artistic and historical value,
a work of art as well as a collection of valuable legaland the name "the hobby of kings" was born.
tender, is widely thought to have begun with