Coin Collector's Survival Manual, 6th Edition
From the world's top coin market insider comes a thorough update of the most-trusted consumer protection handbook to buying and selling coins. Including hundreds of black-and-white and color photographs, The Coin Collector's Survival Manual, Sixth Edition is an indispensable guide for collectors and investors. Negotiate deals like a pro so you can make money right now, Detect doctored, altered, and counterfeit coins, Avoid the perils and pitfalls of Internet auctions, Safeguard and protect...
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Revised and UpdatedFrom one of the world’s most knowledgeable coin dealers–a former consultant to the Federal Trade Commission who is often quoted by the Wall Street Journal–comes a thorough update of the most-trusted consumer protection handbook to buying and selling rare and valuable coins. Illustrated with black-and-white photographs and a full-color insert, The Coin Collector’s Survival Manual is indispensable for seasoned collectors and novices alike. This substantially revised edition of the Coin Collector’s Survival Manual includes new chapters that focus on legal and financial advice for buying and selling coins, and a section on the newest coin grading service, the Certified Acceptance Corporation, and how it will change the landscape of coin grading for investors. You will learn how to: • Understand coin grading systems • Detect altered, counterfeit, and doctored coins • Know when to buy and sell–and when not to• Buy coins through Internet auctions–and avoid the pitfalls• Safeguard and protect your coins from disaster
Acknowledgments xi Preface to the Sixth Edition xvii Introduction xxi1 Collecting Coins Profitably The Nature of a Collector 1 The Lure of Coins 2 Major American Collectors 4 Collecting Reaches the Masses 4 A Dealer's-Eye View of Collectors 6 Collectors Versus Investors 72 Reading a Coin Like a Book Coin-Viewing Attitudes and Techniques 9 Quick Viewing Action 13 How to Handle Coins 143 Bigger and Brighter Magnification for Grading 16 Magnification for Authentication 18 Lighting 184 The Grading of U.S. Coins What Grading Is and Why Coins Are Graded 21 Certification Services and Grading 22 What Constitutes Grade 24 Coins Made for Circulation 25 How the Certification Services View Eye Appeal 25 Subjectivity and Self-Certified Coins 26 Proof-A Method of Manufacture, Not a Grade 26 Grading Guides 27 Numerical Grading Standards 28 How the Marketplace Defines the Grades AU-58 Through MS-70 29 The Coin Grading Spectrum 40 Overgrading and Undergrading 43 Small Imperfections, Big Grade Difference 47 Mint-Made Imperfections 49 White-Collar Overpricing 49 How to Distinguish Mint State from About Uncirculated 49 The Rub 54 Strike 55 Toning 63 Detecting Doctored Coins 64 The Most Difficult Coins to Grade 65 Concluding Grading Tips 675 Grading Services and the Plastic Revolution A Tale of Two Investors 74 The Impact of Grading Services 76 Some Important Grading Services 76 Detecting Counterfeit PCGS Holders 81 PCGS Versus NGC: Analyzing the Certified Coin Market Indicator 92 Changes in Grading Standards 96 Premium-Quality Coins 101 Grading by Consensus 103 A Case for No Industry Standard 103 How Grading Services Determine Grade 106 How to Protect Yourself When You Buy CoinsCertified by Leading Services 107 Bombshell Interview: A Candid Look at Coin Doctors 1096 New Services Land a 1-2 Punch to Protect You Certified Acceptance Corporation 118 Reasons for Rejection 121 How to Protect Yourself When Buying CAC-Verified Coins 123 Alternative Services 124 Numismatic Consumer Alliance, Inc. 1247 Beauty and the Best-Authenticating Proofs How to Tell Proof from Prooflike 130 The Most Difficult Coins to Confirm Proof Status Of 1318 Telling Fact from Fiction Altered Coins 134 Cast Counterfeits 140 Die-Struck Counterfeits 143 For Further Assistance 1479 Making Money in Coins Right Now The Crack-Out Game 149 Multimillion Dollar Crack-Out Secrets 152 The Handpicked List for Quick Cash 153 When Not to Play the Crack-Out Game 156 The Best Place to Buy Coins to Crack 156 Crack-Out Cautions 158 Dipping Coins 159 Cracking Out Commemorative Coins 160 Profiting from Generic Gold Coins 167 Generic Gold's Price Performance 168 Rare Gold Coins' Performance 170 Tips on Making Coins Profitable 17110 Making Sure the Price Is Right Determining Value 175 Where the Price Is Always Right 184 Monthly Price Guides 185 Secret Dealer Tip Sheets 186 When the Price Is Not Right 189 Common-Sense Tips 19011 Registry Sets Get High Grades The Meaning of "Registry" 192 A '"Weighting" Game 193 Registry's Impact on Prices 194 Pitfalls to Avoid 19512 Secrets of Cherrypicking13 "Insider Trading" of Rare Coins Rare-Coin Insider Trading 202 Insider Information and Rare Coins 203 Completely Legal Insider Negotiating 209 Rare Coins as Securities 21214 Dangers of Buying Coins on the Internet and by Mail Buying Coins on the Internet 216 Online Auctions 216 The eBay Phenomenon 218 The Risks of Buying Coins by Mail 229 How to Identify a Disreputable Dealer 230 Confession of a Rip-Off Coin Salesman 233 Mail-Order Coin Guarantees 235 Your Rights as a Mail-Order Coin Buyer 237 How to Complain and Get Results 237 Hanging Up on Telemarketers 24115 Cashing In at Shows Local Club Meetings 244 Local Club Shows 245 Seminational Conventions: Regional and State 245 National Conventions 246 International Conventions 247 Bourse-Room Etiquette 247 Security Tips for the Convention-Goer 249 Educational Forums 250 Youth Programs 250 How to Design a Winning Exhibit 251 How to Complain 252 Dealing with Dealers 25316 Selling High, Higher, Highest Changing Strategies 255 The Need for Certification 257 Generic Coins 257 High-Grade Rarities 258 Generic Gold Coins 259 Five Types of Coins to Sell 259 The Anatomy of a Coin Transaction 263 Coin Sale Methods 266 Cashing Out at the Top of a Bull Market 27617 Don't Let Uncle Sam Pick Your Pocket How the Mint Makes a Mint 280 Proof Sets' Price Performance 282 Modern Commemorative Coins 285 Traps Set by the Mint and How to Avoid Them 287 Tax Obligations, Record-Keeping, and Estate Planning 288 Estate-Planning Secrets 291 Coins and Retirement Plans 292 Contributing Coins to Charity 294 Like-Kind Exchanges When Coins Have Increased 294 A Tax-Slashing Strategy When Selling at a Loss 29518 Myths That Can Cost Millions19 Endangered Coins-and How to Rescue Them Abrasive Cleaning 303 Nonabrasive Cleaning 306 State-of-the-Art Protection Against Deterioration 309 Artificial Toning and Doctored Coins 311 Toning and Corrosion 314 Holders Can Damage Coins 315 Preservation Precautions 316 Coin Conservation Services 317 The $10,000 Conservation Secret 32020 Security After September 11 and Hurricane Katrina Insurance Against Terrorism and Protection from Natural Disasters 322 Explosion-Resistant Safes 323 Safe-Deposit Box Storage 324 Home Security 325 Photographs and Digital Images 32921 Using the Legal System to Protect Your Coins Forming a Legal Entity 331 When a Relationship Sours 332 Minimizing Acquisition Costs 334 Financial Privacy 336 Nothing is Certain but Death and Taxes 337 Appendices Value Chart for United States and Canadian Silver Coins 342 Value Chart for Commonly Traded United States Coins and World Gold Coins 346 Specifications for American Eagle Silver and Gold Bullion Coins 350 Internet Resources 351 Calamity Insurance: Gold Coins as a Safe Haven 354 Glossary 357 Index 365
