Like most collectors, you have probably collected Lincoln Cents, or some other recent series and now you want to go back in time a little bit more. Indian Head Cents were produced from 1859 to 1909, while its predecessor, the Flying Eagle Cent was produced from 1857 to 1858. Just think of the history that took place during that span of time; The Civil War, invention of the automobile, etc. America was essentially at war with Native Americans, yet on the coin that was most widely produced and widely used, was the image of an Indian. Over the span of 50 years, over 1.8 billion Indian Head Cents were produced. That 1.8 billion is not that far off from the number of Lincoln Pennies made in a single month today. Additionally, about ˝ of that 1.8 billion were made during the last 15 years of production. Experts have estimated that less than 1% of all earlier date Indian Head Cents survive today and only 2% to 10% of later dates survived. Unlike today, back in 1880, a pocket full of pennies could buy quite a bit. While there is no sure way to tell, and despite low mintages compared to the Lincoln Cent, many coins are readily available making a collection of Indian Head Cents a very feasible project.
Before embarking on starting a collection, you must first decide how you want to proceed. Like any coin, there are as many ways to collect it as you can think of. It is up to you. For most readers of this article, you are probably looking at completing an entire series. Most dates in low or average grades will be very easy to come by. Excluding an 1877, a complete set may cost you around $1200. Include an 1877 and the cost goes up as an 1877 in G4 will cost around $800 (price as of March 2007). That same collection in XF may cost around $8500 and the same set in MS65, if you could find them all, would run over $63,000. Regardless of what you want to collect, a well thought out plan is required. Your plan should include a budget, methodology and goals. Here are some ideas you may want to consider regarding the type of collection you want to have.
For example, you could collect:
Complete set from 1859 to 1909 low grade Complete Set from 1859 to 1909 VF-XF grades Complete Set from 1859 to 1909 Mint State (Very, very expensive) Only Mint State MS65 and above of any date Only 1877 coins Proof only coins Only varieties Indian Heads in General (just buy whatever seems like a good price)
Let’s assume you would like to complete an entire set of Indian Head cents. As mentioned above, this is a very doable project. As mentioned earlier, most all dates are available. Generally speaking, about 15-20 dates, the last 15-20 years of production, can be had for a couple dollars apiece if in G4 condition or $7.00 to $15 in XF. For G4 coins, a good way to start may be purchasing a roll and you will likely get 10-15 of these dates for less than a couple dollars each with a few left over. Additionally, a mixed roll might contain a few coins in VG or higher condition. This could minimize your cost, assuming you can then sell the extras. From there, another 10 dates (1880-1890) will cost you about $3 to $10 each in G4 condition and $15 to $50 in VF to XF and then there are 3-5 dates before 1880 that can be had for less than $10 in G4 and $30 to $50 in VF to XF. Using this approach you can complete a short set from 1880 to 1909, not including “S” dates real fast. Once you get to this point though, it gets a little tougher, at least in terms of price. With the exception of a few dates, most Indian Head Cents from 1859 to 1879, even in just G4 condition can run from $10 to $100, with many in the $40-$60 range, excluding the 1877 of course. In XF condition, all but a few are over $100 with many in the $500 dollar range. The 1877 will run about $3000. One option to consider is to keep an eye out for the tougher coins as you attempt to complete your set. Historically, the 1877 cent has continued to go up while the lower end coins have remained fairly stable in price. Also, be careful as there are 1877 fakes out there. You may want to consider your purchase from a reliable source or only certified examples.
I have hit on the 1877 as being the key to the series. If you have done some research you may have noticed that the 1877 was NOT the lowest mintage Indian Head coin. That honor belongs to the 1909 S. There were over 852,000 1877 coins made but only 309,000 1909 S coins. The 1909 S will ‘only’ set you back $425 in G4, only about ˝ the cost of the 1877. Why the difference? There are several reasons. The first is that the 1877 coin was not recognized as a rarity for a while and saw heavy circulation
If you are primarily looking for beauty in your collection, then consider buying proofs or mint state coins in RED condition. I would highly advise buying only certified coins in this area and then only consider well known grading companies. In all cases, buy the coin, not the grade. What does this mean? Grading is highly subjective. A MS64 coin may well look much better than a MS65 coin. Grading does not typically include toning, luster, etc. I once bought a site unseen MS65 coin only to get the ugliest looking coin I ever saw. But it was graded MS65 by PCGS.
As stated above, when building your collection, have an end-goal in mind otherwise you may end up with a bunch of common low-grade pieces with not much resell value or interest.
Keith Scott has been a collector for over 30 years and owns a small internet-based coin store at www.mountainviewcoins.com and writes articles for www.articlefree4all.com. Visit his websites for a history of US coins, metal market updates and news about your favorite coins.
To the novice, it might seem like one coin is as good as the next. However, that’s just not the case. To determine value of coins of the same type, grading is performed. Basically, grading is the process that determines the condition—and the value—of the coin being looked at. The grade of a coin can wildly affect its value. Years past, Dr. William Shelby devised the 0-70 scale system for grading coins.
Today, this code is combined with letters to create a great coin grading scale that anyone can follow. In the remainder of this article, I am going to share with you nine different grades for coins. We will start with the best possible grade and work our way down from there.
The best possible grade is MS, which means Mint State. Actually, the MS grade has a numerical range from 60 to 70. An MS coin is perfect in every way and uncirculated. You don’t find MS-70 coins, you buy them—if you can. The majority of MS grade coins you will see are MS-65. If you turn on your TV, there’s probably a coin selling show that will have MS grade coins.
Next up is AU. Almost uncirculated (AU) coins typically have very light traces of wear on them. One thing is for sure. The novice will have trouble determining if the coin is AU-50, AU-55, or some other grade. Here’s a tip. Find the highest point on the coin (the part that sticks out the most) and look for wear. That will be your guide.
Below the AU grade is the EF grade, which means extremely fine. The EF coins have slightly more wear. Keep in mind that grading is a precise process. EF grade coins are very striking.
Very Fine coins (VF) have even more wear than the EF grade coins, but they are still great to look at. VF grade coins have sharp features, and light wear. It’s one step above the change you have in your pocket.
Fine coins are basically pocket change. These coins still resemble their mold, but they have worn details. Perhaps you have seen a worn coin from the 1960’s. If the coin is really showing some wear, it can be downgraded to Very Good (VG). The rims of the coin will still pop, but the coin has miles on it.
Should the coin be fairly worn, but the mint marking is still visible; it’s Good (G). Below Good is AG (Almost Good). The AG grade coin has excessive wear, and features like the date might be partly missing. Fair (F) coins are in miserable shape. They might even have holes in them or be misshaped. Finally, there is the Basal State coin, which is basically a worthless coin.
History of Standing Liberty Quarter by Keith Scott
The radical change in our coinage that was taking place in the early 20th century was not quite done by 1916. With the new Lincoln cent and Buffalo nickel now in circulation, and changes to gold coinage, it was now time for a change in silver, specifically, the dime, quarter and half dollar to undergo a facelift and eliminate the uninteresting Barber designs. In late 1915 a design competition was announced to replace the designs on the dime, quarter and half dollar. In 1916, Mint Director Robert Woolley told Mint Chief Engraver Charles Barber that Hermon Atkins MacNeil's design had been accepted for the quarter and that MacNeil would be visiting the Mint to obtain information about preparing the needed relief models. As Walter Breen writes in his book entitled Complete Encyclopedia of U.S and Colonial Coins, "Barber was as usual, completely uncooperative." Assistant engraver George Morgan, who would later become chief engraver upon Barber's death, was apparently more helpful. In late May of 1916, with Morgan's help, MacNeil's models that could be used for fie preparation were approved.
The first Standing Liberty Quarter coins came of the Philadelphia presses on December 16, 1916 and the series continued through 1930. A mere 52,000 pieces were minted in those last two weeks of 1916 and were released to the public along with 1917 dated coins in early 1917. Legend has it that shortly after the release there was a public outcry over the exposed right breast of Lady Liberty. Others complained that the small eagle looked like a pigeon. Whether this led to the design change is not well documented as there were also stacking issues with the Type I coins. In any event, the design was changed in 1917 to cover the right breast with chain-mail as well as minor changes to the back of the coin which moved three stars beneath the eagle, thereby raising and centering the eagle. Thus was born the Type II Standing Liberty Quarter.
After a few years in circulation it became apparent that the date was wearing off way to fast. Unlike the Buffalo Nickel, someone at the mint did make changes and in 1925, the date area was lowered as to be protected by the rim of the coin resulting longer wear on the date field. Thus was born Type III which many consider a subtype.
In production for only fifteen years, the Standing Liberty quarter suffered an early demise. 1932 marked the 200th anniversary of George Washington's birth was introduced as a circulating commemorative which is still in circulation today.
Collectibility
General
As one of our most beautiful coins, Standing Liberty quarters garner quite a following. A complete set in circulated condition, except for the 1916, can be had with only a few coins going for over $100 in circulated condition. Many of the later dates (1925 and after) in decent condition can be had for under $5.00. When grading this series for higher end coins, look to the right knee and center of the shield on the obverse and the eagle's breast and left wing on the reverse as these will show wear before other areas. Additionally, very well struck coins will be graded as Full Head (FH). Coins graded as FH are much scarcer and will demand a substantial premium over non FH in the same grade. In order to be graded FH the coin must show three leaves in Liberty's hair, the hairline along Liberty's brow must be complete and the ear indentation must be evident.
Key/Semi Key Dates
Without a doubt, the key for the series for the common collector is the 1916 coin. With a mintage of only 52,000 it would seem that this coin should be quite rare. And while it is, it is not has hard to obtain, for a price, as it would seem. As with most new series, collectors and the general public hoarded the first coins of new issues. A G4 coin still retails for about $3500, so it is not cheap. In terms of scarcity in high grades, the 1916 date has more FH MS-67 coins graded by PCGS than any other date expect the 1930-P and 1930-S. Still, the 1916 will cost you more due to its popularity. A MS67 FH lists for over $90,000.00
The year 1917 consisted of Type I and Type II coins. Although the 1917-D Type II had a higher mintage (6.2 million vs. 1.5 million), the 1917-D type II in good (G4) condition retails for $40.00 vs. the 1917D Type I which goes for around $28. Since there were so very few 1916 coins, and they were produced in Philadelphia only, the folks out west probably thought 1917 was the first year and hoarded the first coins, that being Type I and ignored Type II coins of the same year. This price differential is also apparent in the 1917-S Types. Philadelphia minted far more coins in both Types in 1917 than the other two mints so there is not a big difference in price for this mint/date.
For the common collector, filling the earlier dates, those before 1925 can become costly. Coins in G4 grades are usually not that eye appealing and can still cost you well over $100 such as the 1919 D & S, 1921 and 1923-S. Obtaining these in higher grades will reach near $1000 and well over $1000 for the 1923-S. For most other dates prior to 1925, consider spending $50-100 per coin. As we get into coins dated 1925 and after, prices drop considerably. This primarily due to the change to the date that enabled to withstand more wear. As previously mentioned coins dated 1924 and before wore the date out quickly. Coins dated 1925 and after were better preserved. It was not uncommon to find dated Standing Liberty quarters in circulation as late as the 1950's. There one exception though to those 1925 and later quarters. The 1927-S was the 2nd lowest produced coin of the series with a mintage of only 396,000. Although this is a very low mintage, you can still obtain a F-12 coin for less than $100. Coins above that grade jump in price considerably. It is interesting to note that the famed 1932 D and S Washington quarters had higher mintages than the 1927-S yet you can get a G4 1927-S for less than $35.00 yet the 1932 D or 1932 S will cost you around $150. This anomaly changes though for higher grades as the 1927 S skyrockets in price while the 1932 quarters go up in price gradually until you reach mint state coins.
As with many series of the day, Philadelphia was the main producer of coins while the Denver mints and San Francisco mints had lower production totals making mint-marked coins "generally" more difficult to find and more expensive.
Errors
The only highly recognized error in the series is the 1918/17 overdate. This coin in FH Mint State condition exceeds the prices of the 1916 coin. (in MS-65 FH the 1916 lists for $35,000 while the 1918/17 lists for $300,000). PCGS has not yet certified a FH ms-65 FH 1918/17 overdate and has certified only 34 FH coins. In G4 condition the coins lists for $1,700.
There have been other reported errors/varieties such as small/large mint marks for the 1928-s. If you are into collecting errors and varieties for the Standing Liberty quarters then the book for you is Standing Liberty Quarters: Varieties and Errors, written by Robert Knauss.
Proofs
There were no official proofs produced for the Standing Liberty quarter although several satin-finish proofs of 1916 and 1917 are reported to exist.
Vital Statistics Summary
Key Coin Info
Designed by: Hermon A. MacNeil Issue dates: 1916-1917 Composition: 0.900 part silver, 0.100 part copper Diameter: 23.4 mm Weight: 96.45 grains Edge: Reeded Business strike mintage: 12,253,200 Proof mintage: None
Designed by: Hermon A. MacNeil Issue dates: 1917-1930 Composition: 0.900 part silver, 0.100 part copper Diameter: 23.4 mm Weight: 96.45 grains Edge: Reeded Business strike mintage: 214,516,400 Proof mintage: None
Keith Scott has been a collector for over 30 years and owns a small internet-based coin store at http://www.mountainviewcoins.com Visit his website for a history of US coins, metal market updates and news about your favorite coins.
Coin Collecting Hobby : Great Fun For The Whole Family by Susan Dean
Isn't it funny that when we are kids we tend to enjoy collecting as a hobby but most of us do not continue this through adult life? I know as a child I enjoyed a stamp and coin collecting hobby along with swap cards and teddy bears. I gave my stamp collection away when I got older and I sold most of my coins as well. I honestly cannot remember what happened to the swap cards or all the teddy bears.
For a lot of people, their stamp or coin collecting hobby has continued into adulthood or perhaps they picked it up later in life as many do. But never the less there are lots and lots of avid collectors out there. A coin collecting hobby for example can mean to the collector many things. Some like to have this type of hobby because they love history and get great pleasure out of learning more from years gone by.
Then there are those who like to only purchase very rare and expensive coins for an investment purpose. Many people love to purchase brand new coins straight from the mint while others collect foreign coins only. The great thing about a coin collecting hobby is that there are no rules and everyone can collect whatever they wish.
If you are a serious collector then there are groups and associations such as the American Numismatic Association that you can belong to if that is what you like. These can be great for all you numismatists as you can have the opportunity to swap coins with other enthusiasts like yourself. They organize The World's Fair Of Money every year where you can learn more about this interesting hobby.
If you think you have a valuable coin in your midst then this group will also be able to help you with having your coin appraised. Even for the novice it is good to have appraisals done on coins that you may have because you never know if you are sitting on a real hidden treasure or not. Something that may look cheap maybe worth a lot and something that looks expensive and old may not be worth much at all. That is why it is a good idea to get them valued.
Whatever your reasons are for a coin collecting hobby you still should keep your collection in good order by displaying them in a protective folder or case. This way you can look at them at any time safely and easily without damaging them. Leave them in a locked glass cabinet if you wish to have them on display all the time.
Having a collection such as this is also a good way to teach the family some history. Especially children. It is also one of the easiest hobbies to start your child off with. Stamps are another great one to do. You don't even have to buy them to start off with. You can collect them off letters from grandma or a friend and before you know it you are hooked. These, just like the coins can also be a history lesson. I remember as a child I ended up with stamps and coins from all over the world because my grandfather was in the ww1 and brought lots back with him and of course stamps on his letters.
Coin Collecting Magazines Keep You Up To Date By Charles Roman
There are many coin collecting magazines on the market today. These provide up to date information to the avid coin collector. These magazines are great for both the experienced collector and the novice. They can provide great resources to coin collectors and give information on new finds in the coin collecting world. There are several such magazines that provide this type of information of which the most popular five will be discussed in this article. These are the leading magazines for coin collectors.
Coin Connoisseur is one such magazine. They specialize in the collection of gold and silver coins. They are the leaders in news relating to rare coins and precious metal coins. The coin collecting magazines that are available all offer different features and Coin Connoisseur is packed full of information that is up to date. They provide information on the internet’s best rare coins, coinstats, and many other suggestions to prevent getting scammed and to better enjoy your collection. This magazine also runs several competitions for gold and other precious material bullion coins. These have no fixed monetary value but the value is based on the precious material they are made off. They are great investments as they are easy to sell with less red tape than bars or ingots.
Of the coin collecting magazines there is another that is very popular. This is Coin World magazine. This has the best coverage of coin collecting information on a weekly basis. This magazine is especially popular in the US and has great coverage on all the newest issues concerning coin collecting. They analyze the trends of the field and give information to the new and the experienced about the how and the why of coin collection. There is also the additional feature to get great saving when subscribing to this magazine.
Another of the popular coin collecting magazines is Coin Value Magazine. This has a timely editorial and has up to date price guides on coins on the market. This magazine has focused mainly on the tracking of the changes in value of most US coins. This magazine allows with subscription the personal tracking of your coin portfolio online. This is also published by Coin World publishers.
There are two other major coin collecting magazines. One of these is Coins magazine. This magazine tracks the coin market trends and includes tips for those wishing to purchase coins. They also keep their subscribers up to date on the latest occurrences in the field with regular publication of columns that deal with aspects of coin collecting. The other is Coin Prices magazine. This is geared mainly towards the serious collector wishing to glean information on the prices of coins and paper money. They also provide guidance on the grading and the evaluation of coins as well as many other subject areas related to collecting coins.
Charles Roman publishes Coins and Coin Collecting Your guide to getting the very best from your coin collection, including finding out coin values.
Do You Have Precious Rare Coins in Your Purse or Change Jar? By Charles Roman
A Guide to Rare Coins in Circulation Today
It's usually a small thing that turns regular looking money into valuable rare coins. Last year's materials used instead of this year's, a tiny symbol left off a minting die. Collectors covet the unusual and uncommon above all else, and these minor oversights result in a very limited number of coins. This means that supply is much lower than demand, and even something that looks almost exactly like a common penny can actually be a precious rare coin. Even more interesting is that many of these rare coins were released into circulation before anyone realized that a mistake had been made. Because not many people know what distinguishes precious rare coins from run-of-the-mill legal tender, these coins can remain in circulation for decades, until a lucky coin collector recognizes them.
How would you feel if you knew that you had handed over a penny worth $2,000 or more as change for a dollar? This guide will help you recognize a few exceptional American rare coins that you just might have lying around your house, shoved in a change jar, or tucked away into a pocket.
Rare Coins with Mistakes in the Printing
One of the most common mistakes that turn normal coins into limited rare coins is a mistake in the printing. In the case of a nickel minted in 1964, the problem happened when a plate was cleaned too often, and a part of one letter was worn away, leaving the Jefferson nickel with the inscription “E PLURIDUS UNUM.” It took collectors quite some time to catch on to the misspelling of the word “PLURIBUS,” but now these limited nickels are highly sought after. A similar problem resulted in the 1970-S Atheist Cent, when the motto “In God We Trust” was covered with a blob of metal, causing it to read only “In God.”
Another common oversight is when the mint mark, the tiny letter on most American coins that indicates which mint created the coin, is missing or incorrect. Some rare coins with this mistake include the The 1982 no-P Roosevelt dime. The Philadelphia mint used no mint mark until 1980, when it started stamping coins with tiny P's. Yet somehow, a small number of dimes minted in 1982 were a throwback to the time before the mint mark, and bear no letter P. There were only a few coins with this error, and their scarce nature has made them valuable to collectors. A similar problem happened in Philadelphia a few years later, when the P on the die of some 1989 quarters was clogged with dirt, preventing the coins from being properly stamped.
Rare Coins with Double Printing
Minting problems don't only involve the writing on the coin. Sometimes a problem with the die causes a coin to be double stamped accidentally, resulting in a very unusual form of rare coins. Some precious coins with double stamping include doubled-die Lincoln cents from 1972, 1983, and 1984, and a doubled quarter minted in New York in 2001.
Rare Coins with the Wrong Metals
Other than printing problems, another reason why rare coins can be minted is when the wrong precious metals are used to make the coins. American coins have undergone several changes in material. For example, during World War II, pennies were made out of steel, because copper was needed for the war effort. Nevertheless, a very few pennies were minted in 1943 out of copper instead. These rare coins are worth upwards of $200,000 today, and they look exactly like any other penny.
As you can see, sharp-eyed coin collectors can really make a profit by keeping their eyes for rare coins in everyday transactions. Most people wouldn't look twice at a unique find like a 1943 copper penny or a dime that's missing a letter nearly too small to see. By knowing what coins are limited and rare, you could make an exceptional find just sorting through your household change.
