On Mints and Mint Marks

With so much information and beauty contained				widely thought to have begun with Francesco
in so small a package, it is no surprise that				Petrarca, or Petrarch, who is often called
coin collecting has been a hobby nearly as				the father of the Renaissance.
long as the concept of coins themselves. The
history of gold coins dates as far back as				The Philadelphia mint used no mint mark until
2,700 years ago. The first gold coins in the				1980, when it started stamping coins with
world were issued in Lydia around 640 B.C.				tiny P's. Yet somehow, a small number of
certain internet websites will provide you				dimes minted in 1982 were a throwback to the
with a lot of information about the history				time before the mint mark, and bear no letter
of gold coins.				P.

Australia reveres its national animal with				As you become a more experienced coin
the Gold Kangaroo, for example, while China				collector your "eye" will mature and you'll
has a Gold Panda with a lovely design that				be looking more closely at details like the
changes every year. Collectors covet the				lettering on a coin, making sure the letters
unusual and uncommon above all else, and				are still clear and not worn down.
these minor oversights result in a very
limited number of coins. This means that				Coin collecting for investment purposes can
supply is much lower than demand, and even				be a tricky endeavor.
something that looks almost exactly like a
common penny can actually be a precious rare				All too often, new coin collectors who try to
coin. Coins can lose their brightness over				go it on their own without professional help
time, and you'll be tempted to polish them.				end up being scammed out of hundreds or
The best advice is ... DON'T.				thousands of dollars.

Learning what to look for, how to identify				3. The blanks then are softened by running
quality items, how to use the lingo, and how				them through an annealing furnace, through
to establish a fair price will make the hunt				tumbling barrels, and then through revolving
that much more exciting.				cylinders containing chemical mixtures to
				burnish and clean the metal.
One thing is for certain, there isn't a coin
collector out there who will stop collecting				4. The blanks then are washed and placed into
just because the prices have risen a little				a drying device, then into the "upsetting"
and probably the same amount will consider				machines, that produce the raised rim.
selling their prize collection to the highest
bidder. Commemorative coins are a popular				5. The Final stage: "coining press". Each
form of collection, as are rare minted coins				blank is clasp into position by a collar or
like those which had an error in their				ring as it is being struck or hit under great
stamping. If a certain set of coins doesn't				pressure. Pennies need approximately40 tons
interest you, it won't be any fun at all to				of pressure and the larger coins need more.
become a collector.				The "upper and lower dies" are stamped
				simultaneously on the two sides of each coin.
Coin dealers will also be more likely to
recognize a counterfeit coin, have a higher				The design:
chance of hearing about the sale of the
specific rare coins that interest you, and				The "Director of the Mint" chooses the design
will recognize an asking price that is over-				and pattern for United States coins, then
or undervalued. As an investor, these are all				that is approved by the "Secretary of the
critically important points for your success.				Treasury"; congress can recommend and suggest
				a design. The design then can not be changed
On Mints and Mint Marks				for twenty five years unless directed by the
				congress.
Mint Marks are tiny letters referring to the
locality where the minting of coins took				All emblems of United States coins minted
place. The position of mint mark can be found				currently represent previous presidents of
typically on the back side of coins that were				the United States. President Lincoln is on
minted before the year 1965 and on the front				the one-cent coin, adopted in the year1909;
after the year 1967.				Washington on the 25 cent coin that was
				minted first in 1932; Jefferson on the five
Coins of every US mint branch are recognized				cent coin in 1938; Franklin Roosevelt on the
by mint marks. These coin marks date back to				dime, introduced in the year1946; Kennedy on
ancient times in Rome and Greece.				the half dollar that was first minted in
				1964.
The "Director of the Mint", through the "Act
of March 3, 1835", set rules to classify and				The "Act of 1997" known as the "50 States
distinguish the coins released from every US				Quarters Program" supports and allows the
Mint branch. This core management set				redesigning of the quarters - the reverse
accurate standards and pattern of production				side is to show each of the fifty states
as well as responsible coinage. Coins that				emblems. Every year starting in 1999 and
minted at the "Philadelphia mint" earlier				until 2008, coins honoring five states,
than the year 1979 have no mint marks. So it				having designs that are created by each
was in that year that the dollar was marked				state, will be issued in the sequence or
with the letter P and other denominations had				manner in which each state signed the
that same mark thereafter. All dies for US				Constitution.
coins are produced at the "Philadelphia Mint"
and prior to shipping the coins to their mint				The phrase "In God We Trust" was used first
branch, coins are marked first with the				in 1864, on a United States two-cent coin. It
correct and designated mint markings. The				then was seen on the quarter, nickel,
precise size and positioning of the coins'				half-dollar, silver dollar and on the $10, $5
mint mark can slightly vary; this is				and $20 in 1866; in 1909 on the penny, in
influenced by how deep the punch was				1916 on the dime. Today, all United States
impressed and where.				coins carry the motto.

The importance of mint marks:				The collection of ancient, commemorative, and
				rare coins is a fun and exacting hobby, and
Collectors can determine the value of a coin				opens up a realm of history that most people
though mint mark, date and condition				never get to see. An avid coin collector will
examination, making the coins condition the				be able to tell you virtually every piece of
most significant factor and standard when				history that surrounds any coin in their
determining its value. Defining the Mint				collection both because they tend to
which hit the coin is tremendously important				specialize and because knowledge is one of
in determining the value of the coin; the				the most important factors when it comes to
coin can be hit in huge quantities at a				starting and maintaining a collection of any
single Mint or in smaller quantities in				value or worth.
another hit.
				Perhaps one day the coin you bought last year
The process of minting:				will have gone up in value, but the idea is
				to buy it so you can enjoy it now, and for as
1. The making of metal strips in the correct				long as you own it.
thickness: Zinc strips are used for pennies,
alloy strips composed of nickel (25%) and				Hobbyists usually start collecting coins from
nickel (75%) for nickel and dollars,				their own locality. This makes sense because
half-dollars, dimes, half-dimes are				they are the easiest to collect. These
fabricated from a fusion of three coatings of				hobbyists then expand their collection to
metals; the external layer are alloys and the				coins from increasingly farther and earlier
center is copper.				origins.

2. These strips of metals are then put into				And while the rarest and finest of all rare
"blanking presses" that are responsible for				coins have reached stratospheric prices, what
cutting "round blanks", approximately the				does this leave the rest of us? Not much,
dimension of the "done" coin.				unless you are willing to do a little work.
				Always be on the lookout for rare gold coins,
But as time goes by, the number of these				and have coins appraised by a gold coin
coins go down. Some get lost and some are				expert to avoid large differences in price.
damaged beyond recognition.				American coins have undergone several changes
				in material. For example, during World War
Everybody wants to make sure that their				II, pennies were made out of steel, because
investment is protected, but there are no				copper was needed for the war effort.
guarantees, especially in rare coins. In
fact, some rare coins take years to				Remember that most gold coins are worth more
appreciate to the point of being able to sell				than their legal tender amount. Although they
it profitably.				re not available for purchase directly from
				the U.S. Mint, American Eagle can be commonly
The Gold Eagle features a representation of				found for sale in coin shops, on the
Lady Liberty striding with torch in hand				internet, by gold dealers, and at coin shows.
through a field of light rays on its front				You can get a silver locating device or a
side.				magnetic pole for finding loose coins in
				ditches, under cars, or in other
For most gold coin collectors, there are the				hard-to-reach places. Or simply rely on your
highly coveted rare gold coins and a lot of				eyes to identify those gleaming metal
gold coin collectors are interested in these				circlets of potential wealth.
rare gold coins that they will offer high
bids just to be able to get their hands on				During the Renaissance, popes and nobility
these. Coin Collection in Renaissance Times				began collecting coins for their artistic and
Modern coin collecting, where the coins are				historical value, and the name "the hobby of
viewed as a work of art as well as a				kings" was born.
collection of valuable legal tender, is

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A world made of metal

On Mints and Mint Marks