Neil S. Berman

Cheat Sheet / Updated 03-28-2022

The fine and fun hobby of collecting coins has a long history and no doubt a long future as well. If you’re collecting in the here and now, though, you need info on grading services, price guides, and auction houses, not to mention helpful magazines and websites.

Article / Updated 11-04-2021

Unlike so many hobbies and pastimes that kids can participate in, coin collecting can last a lifetime. Your niece, the avid skateboarder, isn't going to be doing a kickflip when she's 50. And your son, who's totally into video games, isn't going to be staring at that TV screen for the next 30 years (despite what all signs point to today). With so many activities competing for your kids' time and attention, how are you possibly going to break through all that noise with some coins? Here are some tips. Show them your favorite coins Introduce your kids to some of the more eye-catching designs, in denominations they've never seen before. As you talk about when, how, and why the coins were made, where they were made, and the history of the time, you'll probably be surprised by how curious your kid is. Start them on collecting the 50 State Quarters Next time you're in a store buying something with your kids and you notice that they've gotten one of the 50 State Quarters back in change, point out to them what that is, and ask if they think they could possibly collect the entire series. "That's a lot of coins . . . do you think you could find them all?" If your kids are up for the challenge, they'll probably start emptying out their piggybanks and asking for change for a dollar bill whenever they're in a store. Use coins in a school project If your child is doing a project on World War II, suggest they assemble a set of U.S. coins from the war, as well as a set from the overrun countries, from the Allies, and a set from the enemy. They might even get extra credit for their clever presentation! Take them to a coin show Going to a coin show will take a little planning, but it's worth your time. Start by going to a show that's as close to home as you can. Later, if the small show is a hit with your kids, you can take them on a trip to a national show or even to the American Numismatic Association show. Take them to a coin dealer Most dealers love the opportunity to talk with young people about coins. A coin dealer has access to just about anything that a young or inexperienced collector would want to know or see. Most kids are thrilled to meet an adult who shares their interest in coins and takes them seriously. Take them to a U.S. mint The only working mints that offer tours are Denver, Colorado: The Denver mint opened in 1906 and is still in operation. You can take a tour of the Denver mint. Reservations are required and can be made online or in person at the U.S. Mint Visitor Center. Philadelphia, Pennsylvania: The Philadelphia mint opened in 1793 and is still in operation. You can take a tour of the Philadelphia mint, and reservations are not necessary.

Article / Updated 11-04-2021

Throughout the years, people all around the world have experimented with a variety of items to denote value. The natives of Papua New Guinea valued the dried carcasses of the bird of paradise. The early Chinese created copper money in the shape of knives. Native Americans made and used wampum (clam shells, handmade into beads, polished, drilled, and strung on strands of leather) as a medium of exchange. All sorts of innovative methods have been used to facilitate trading, but none of them became so convenient and important as those little round pieces of metal we call coins. Gold and silver coins Gold and silver formed the basis for most great civilizations' systems of money. Greece, Rome, Egypt, Spain, England, the United States, and other countries all based their monetary systems on gold and silver at one time or another. Commemorative coins In the 1930s, numerous proposals for commemorative coins appeared before the U.S. Congress. Although many of the coinage bills had narrow appeal, they became law, and the U.S. Mint dutifully struck the coins, which were then sold through distributors who added a premium above the face value of the coins. The collecting public paid the premium for the coins and happily added them to their collections. But before long, collectors rightly complained of too many different coins and argued that speculators were manipulating the markets and prices. The U.S. Mint got the hint, the flood of commemoratives slowed to a trickle, and collectors were happy again. Nevertheless, many new people were attracted to coin collecting by the beautiful commemorative coins, just as they are by today's commemorative coins. BU rolls In the late 1950s and early 1960s, collectors went nuts for BU rolls: original, bank-wrapped rolls of Brilliant Uncirculated coins. Collectors tried to obtain rolls of as many different dates, denominations, and mintmarks as they could. Certain issues, like the 1950-D nickel, were promoted as being rare, and prices shot up. The public eventually realized that coins with mintages in the millions were not rare and would never be. Today, the BU 1950-D nickel roll remains cheaper than it was 35 years ago, and new collectors can't understand why BU penny rolls from the 1950s are so inexpensive. Like all good fads, the BU roll craze created lots of new collectors. Silver certificates The front of old silver certificates state that they are redeemable on demand for one silver dollar (or later, for silver). That ended in 1964, when the U.S. government changed the law and discontinued the redemption of silver certificates. For a short while, the government allowed the public to redeem silver certificates, in person, for a fixed amount of silver per note, either in granules or bars. The metal in the silver dollar became worth more than a dollar, so coin dealers found themselves the enviable recipients of another windfall. Suddenly, everyone began looking through their wallets for silver certificates to sell to coin dealers. You can bet that many new collectors were created among the thousands of people who visited coin shops to sell their silver certificates. Art bars Silver popped up again in the early 1970s when 1-ounce silver art bars became the rage. Art bars are thin, rectangular silver bars with polished surfaces and designs that commemorate just about everything imaginable — weddings, a new year, Thanksgiving, cats, you name it. Mintages were limited, unusual varieties appeared, and some rather deliberate errors showed up. In short, a flood of art bars overwhelmed the market and quickly killed it. However, while it was alive, the art bar craze introduced thousands of people to coin collecting, many of whom stayed.

Article / Updated 11-04-2021

The most important choice you make as a coin collector is deciding on which dealers to do business with. Certainly there are more good dealers than just the ones in the following list, but these offer a few good places to start: Heritage Auction Galleries (phone: 800-872-6467): Home of numismatists James Halperin and Steve Ivy, Heritage sells as many coins to collectors as anyone. Swiss America Trading Corp. (phone: 800-289-2646): Swiss America invites U.S. investors and collectors to rediscover gold coin and rare coin collecting for financial safety, privacy, and profit. It offers knowledge, timing, and quality products from its famous, world-class coin buyer. Tangible Investments, LLC (phone: 888-655-9255): Silvano DiGenova, one of the world’s best coin traders, sells coin rarities primarily to serious collectors. Neil S. Berman, Inc. (phone: 914-763-0678): Neil purchases rare coins, primarily representing serious investors, both private and institutional.

Article / Updated 04-23-2021

Because money is a limiting factor, no matter how much of it you have, figure out how much you want to budget for your collection and then decide where to spend it. Here are some suggestions for interesting and challenging ways to collect coins: Denomination: Try putting together a complete set of all the different denominations issued by the United States. Start with the coins in circulation and then include obsolete coins like a half cent, a three-cent piece, a 20-cent piece — coins that most people have never heard of. Type: You'll find a number of different types within each denomination. For example, half dollars include the Flowing Hair, Draped Bust, Capped Bust, Seated Liberty, Barber, Walking Liberty, Franklin head, and Kennedy types. You can collect by type within a denomination, or you can expand into other denominations. Date: Collecting by date is a fun and affordable way to obtain every date for a particular series. For example, you could easily collect a half dollar from every year they were minted since 1900. There's no reason to pay extra for a rare mintmark — just pick the least expensive coin for the year and add it to your collection. Not only will you have one coin from every year, but you'll have added several different types along the way. Date and mintmark combination: Collecting every date and mintmark combination becomes a bit more challenging and expensive. Most series have a rare mintmark that can sometimes be prohibitively expensive. You don't want to attempt to collect a set of Barber dimes unless you have a lot of money. You may find and be able to afford every date in the series except for the extremely rare 1894-S — you'll need $1 million or more for a nice one! On the other hand, there are several series that you can complete without breaking the bank. If you can't afford the Barber dime set, try the Barber half dollars instead. The coins are bigger, and every date and mintmark in the set is affordable. Keep in mind that until recently, coins minted in Philadelphia had no mintmark. Year: Many people try to buy every coin issued in the year of their birth. If you're under 50 years old, all you have to do is buy the mint sets and proof sets issued by the government in the year of your birth, plus any commemorative coins issued that year. If you're older than 50, you may have to search a little harder — but that's half the fun of collecting coins, isn't it? If you really want to go all out, try collecting coins issued in your birth year by other countries!

Article / Updated 04-23-2021

Forty years ago, your spare change might yield all kinds of things: Indian-head cents, buffalo nickels, Mercury dimes, Standing Liberty quarters, Walking Liberty half dollars, and plenty of the more modern silver coins that had been discontinued a few years earlier. These are all but gone, but recent developments have brought all kinds of people back to coin collecting, and budding numismatists are searching their spare change for treasure. Here are some reasons people are getting excited about coin collecting again. 50 State Quarters In 1999, the U.S. Mint began the 50 State Quarters program, a series of 50 special quarter dollars, each representing an individual state and released in the order in which the states entered the Union. The new coins share a common obverse (coin front); the reverses (coin backs) are chosen from designs submitted by each state. Five new quarters are issued each year. The U.S. Treasury reports that over 100 million Americans are collecting the state quarters, many of them completely new to collecting. Sacagawea dollar In what was perhaps the biggest and most expensive advertising campaign ever seen for a new coin, the U.S. Mint introduced a new $1 coin in 2000. The new dollar featured the Native American guide Sacagawea (and her infant son) on the front, and an eagle on the back. To make the coin distinctive, the edge was left flat and plain, and the entire coin was struck from a gold-colored alloy. In a stroke of genius, the U.S. Mint contracted with Wal-Mart stores throughout the country to distribute the new coins in limited quantities. Banks received very few of the coins, creating the false impression that the new coins were rare. In fact, billions of the Sacagawea dollars have been produced and they will never be rare. New commemorative issues In 1982, the U.S. Mint began tentatively issuing commemorative coins again. Today, the U.S. Mint has hit its stride, issuing one or more commemorative coins each year in a variety of metals, set combinations, and price levels. New commemorative coins are available in gold, silver, and copper-nickel on subjects that appeal to a broad audience. Each new issue creates excitement among existing collectors and brings new collectors into the hobby. Error coins The U.S. Mint is far from perfect. However, as far as numismatics goes, that's a good thing. Few industries have product lines in which the rejected items are more valuable than the perfect ones. In 2000, a number of spectacular error coins stunned the numismatic world. One such error was a coin with the front of a 50 State Quarter and the back of a Sacagawea dollar — the first U.S. coin ever to bear two denominations. Because the two dies differ in diameter, no one believed it was even possible for such an error to exist; in fact, some professionals believe these error coins were made deliberately. The error received tremendous publicity in the national media, causing millions of non-collectors to begin examining their change. Wheaties Occasionally, a Wheatie (the Lincoln cent with wheat ears on the back, struck prior to 1959) still shows up in your pocket. As the years go by, they will become rarer.

Article / Updated 03-26-2016

Most coin collectors read at least one trade publication to see what’s happening in the industry, who has coins or currency for sale that may interest them, who’s buying what, timely coin prices, coin show and auction schedules, and similar current information and news. The following list contains links and some info about the periodicals you’ll want to add to your reading list: Coin Prices is published six times per year. Coin Values is a monthly magazine. Coin World is a must-read weekly newspaper that’s been published since 1952. Coins is a monthly magazine. Numismatic News is a weekly newspaper that has been published since 1952. Numismatist is for anyone with any interest in coins. It has been published monthly since 1888 and is included in the American Numismatic Association basic membership package. World Coin News is a monthly magazine. WorldWide Coins is a magazine published six times per year.

Article / Updated 03-26-2016

The more you know about coins, the more interesting and fun coin collecting is. The easiest place to look for information is on the Web. And then coin collecting is just a hop, skip, and a mouse-click from being as profitable as it is interesting. Some Web sites to start with include the following: CoinFacts.com: CoinFacts.com is probably the best all-around factual Web site about U.S. coins. Each type and date of colonial, private gold, and federally issued coins are described and pictured. CoinGrading.com: Need to learn how to grade a coin? Don’t we all! Expert coin grader and numismatist Jim Halperin’s site is a good place to begin your education. CoinLink: CoinLink is a first-class site with plenty of well-written and interesting articles and stories about coins. National Museum of American History at the Smithsonian Institution: Go to this site, click on Collections, and click Coins, Currency, and Medals. Here you can find fabulous presentations about all manor of U.S. coins. The Smithsonian houses the largest and finest coin collection in the world. NumismaLink: NumismaLink is an educational site that’s a good source of online information about coins, medals, tokens, and paper money of the world, including the United States. It lists other interesting sites, numismatic organizations, and various world mints, with an emphasis on bibliographic sources. This site is as good a place to start as any. Numismatic Bibliomania Society: This online home of a nonprofit society promotes research and the collecting of rare and common numismatic literature, including auction catalogs, dealer price lists, periodicals, books, and other printed materials on the subjects of U.S., foreign, and ancient coins, tokens, and medals, as well as U.S., colonial, private, and broken banks, and foreign paper money. University of Notre Dame Library: This site is a really interesting source of information about historical U.S. coins. If you’re looking for information, this site is well worth visiting. U.S. Mint: The U.S. Mint has been issuing a flood of new commemorative coins consistently for 20 years. If you’re interested in recent modern issues, all you have to do to get in on the action is go to its Web site and see what’s new.

Article / Updated 03-26-2016

Many rare and valuable coins are traded through auction houses. The auction houses in the following list are some of the most respected. Contact at least several of these places, and then go to a live coin auction and follow the excitement and action yourself! Heritage Galleries (phone: 800-872-6467) Stacks Auctions (phone: 800-566-2580) Lyn Knight Currency (phone: 800-243-5211) Bowers & Merena (phone: 800-458-4646) Goldberg’s Collectibles (phone: 800-978-2646) Superior Galleries (phone: 800-421-0754)

Article / Updated 03-26-2016

When you’re ready to buy or sell coins, a price guide is essential. By subscribing to NumisMedia (phone: 949-362-3786), you get weekly updates on price and availability. When you decide that you’re serious about U.S. coins, Coin Dealers Newsletter (phone: 310-515-7369) becomes a must-have as well. Most professional coin dealers and serious collectors get both.