Library
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June 02, 2016
Half of one cent may seem like a minuscule amount of money in today’s dollars, but in the 18th century, many everyday goods could be bought for that amount. Items like drinks, snacks, newspapers and such cost just a fraction of a cent! With that in mind, when the United States Mint began producing copper coins in 1793, one the denominations it produced was the Half Cent.
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June 01, 2016
In the mid-1990s, U.S. Mint Director Philip N. Diehl felt that America’s coinage was in need of rejuvenation. All circulating United States coins had gone decades without a substantial redesign. The Lincoln Cent had not changed since 1959, the Jefferson Nickel went untouched since 1938, the Roosevelt Dime was identical to its original form from 1946, the Washington Quarter had never been modified since its release in 1932, and the Kennedy Half Dollar was the “youngest” design at just 30-35 years of age.
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April 08, 2016
The vast majority of vintage coins exist in circulated condition. Since they were typically made to be used in everyday commerce, they are usually encountered with some degree of wear. The extent of the circulation, however, is a major component of a coin’s value. Lightly worn pieces with minimal loss of detail or luster will command a far higher price than a heavily circulated specimen. To help classify the degree of wear, numismatists have established nine major categories of circulated coin grades.
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April 07, 2016
As is the case with most major historic events, the effects of World War II had an impact on American numismatics. The war generated an immense demand for copper, as it was desperately needed for ammunition. Therefore, the United States Mint was obliged to use a different alloy for the one-cent “penny.” After experimenting with numerous substitutes – including even plastic – the government finally settled on a zinc-coated steel alloy as a replacement material.
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April 06, 2016
The category “Classic Head Gold Coinage” refers to a series of Quarter Eagles and Half Eagles produced in the 1830s. The design for these coins was first introduced in the early 1800s for the Half Cent and One Cent coins, but was retrofitted for the $2.50 Quarter Eagle and $5 Half Eagle in 1834. The motifs would be discontinued shortly thereafter; the Half Eagle switched to the Coronet design in 1839 and the Quarter Eagle followed suit in 1840.
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April 05, 2016
Since the United States Mint began producing gold coins in 1795, it has always used an alloy of both gold and copper. The primary purpose, originally, was to make the coins both larger and stronger. Pure 24 karat gold is extremely soft and vulnerable to wear, damage and deterioration. Even after being mixed with copper, gold is still softer than hard metals like nickel. Another reason for the copper blend was to make the coins bigger and easier to handle.
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April 04, 2016
A popular way of collecting United States Gold coinage is to target the first year of issue for each series. Luckily, most first year issues are relatively affordable. They typically have higher mintages and, due to their first year status, were saved as souvenirs. For this reason, first year issues are often quite available and affordable. This article provides a list of interesting and reasonably priced first year of issue gold coins that can be had for $1500 or less.
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April 01, 2016
There are seemingly endless acronyms and abbreviations in the field of numismatics, but one of the most commonly used is “PQ.” What does this term mean, and why is it used so frequently? PQ stands for Premium Quality, and it generally refers to coins that are above average in terms of grade and/or appearance. It’s not an official grading term, but a quick shorthand way of recognizing coins that are superior in some way.
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March 04, 2016
For much of the 19th and early 20th century, one-dollar coins circulated freely in American commerce. Even though one-dollar paper notes have been printed since the 1860s, the one-dollar coin remained a staple of everyday commerce until the 1930s. With that in mind, why have more recent one dollar coins failed? This article will explore why modern attempts to circulate a one-dollar coin have proved difficult.
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March 03, 2016
Almost immediately after its founding, the Confederate States of America began issuing money. The first Confederate dollars, nicknamed “Greybacks,” were first released into circulation in April 1861. Initially the CSA currency had decent purchasing power and was readily accepted—but this would soon change. As confidence waned in the South’s ability to win the Civil War, the currency lost value and acceptability. Eventually the Confederacy would experience tremendous inflation as its currency became essentially worthless.