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<p>[QUOTE="xGAJx, post: 1653011, member: 43897"]Hello Guys! I finished my report that I had to do for my sixth grade class, and Im posting below my research report that I did.</p><p>This is intended for the amateur coin collector, who wants to be a coin roll hunter, and/or a coin dealer!<img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" /></p><p>Thank you anyways, Honest</p><p><br /></p><p><b>The Guide to Coin Roll Hunting</b></p><p>A research report</p><p>In the hobby of coin roll hunting, coin collectors search rolls of pennies, nickels, dimes, quarters, and half dollars to find the hidden treasures found in circulation every day. Sometimes they even find precious metals like silver. </p><p>Silver changes in price constantly, but at the time of this writing (February 2013) it is worth around thirty dollars a troy ounce, which can lead to enormous profits for coin roll hunters. I suggest you start with penny rolls, which have fifty cents per roll and cost accordingly. It should be mentioned that coin roll hunting in general is free because it can be exchanged at the bank for the equivalent value afterwards. As an amateur coin roll hunter, you may probably assume that all pennies are worth one cent. That is not true; in fact, one rare penny can sell for millions of dollars. Any penny minted before 1982 (dates are on the obverse, or Lincoln’s face) is made of 95% copper, which is worth about two and a half cents. Many people also assume that modern pennies are 100% copper, but really, they’re made out of only 97.5% zinc, and a very thin layer of copper. Pennies minted before 1959 are Wheat Pennies, or Wheaties. They are worth five cents in average condition. In higher condition, specimens may sell for higher than twenty dollars apiece. Pennies found before 1909 are much rarer because the U.S minted less of them, and they’re rarely found in penny rolls; if you do find one, get it appraised. A very beaten-up specimen is worth around 4 dollars. Anyway, in the first couple rolls, you might find a wheat penny. (Shown below) </p><p><br /></p><p><i>Fig. 1 – Obverse and reverse of a wheat penny</i></p><p>Its reverse (the back side of a penny) will have a much different layout then a regular penny. Coin roll hunting is a very fun hobby, and some coins can be worth far more than face value! </p><p>[ATTACH]241413.vB[/ATTACH]</p><p>[ATTACH]241414.vB[/ATTACH] </p><p><i>Grading</i> is a coin term that has nothing to do with giving A’s on math tests. Grading can refer to the <i>grade</i> or <i>condition</i> of a certain coin. There are certain TPGs (third person graders) out there who grade your coins with their expertise for a hefty fee. Some examples are ANACS, PCGS, and NGC. However, some TPGs are unreliable, so heed my warning and stick to the mentioned three. You should only get coins graded to increase their value. Don’t get your coins graded if they are worth less than a hundred dollars because they won’t be worth the fees. </p><p>Graded coins are placed in clear plastic cases to display both sides of the coin. This is the most highly recommended way to store rare coins. That’s only if you find really rare coins during coin roll hunting, though! To identify rare coins, I suggest you first buy a coin price guide book before you start. The Redbook™ is a reliable coin price guide. Condition is a very important matter when it comes to identifying coin values. There is only one way to grade coins, and it’s using the 1-70 point grading scale, 1 for signifying hardly identifiable, and 70 for being literally perfect. If you ever go to a coin dealer and say, “My coin is in good condition,” then you’ve basically undervalued your coin. “Good” is one of the worst conditions there is. Don’t feel ashamed if you made this mistake, because it’s very common for beginners. Doing lots of research on grading is highly recommended, it’s actually one of the most important parts of being a coin collector! </p><p>The first time you find a rare coin, you may not even notice it! Look up <i>any </i>funny-looking coins you find while coin roll hunting, because many are valuable errors or mistakes. Doubled dies are extremely popular errors when a die (a coin making device) is faulty and causes the coin to look doubled. These are usually found while using a 5x magnifier and are quite valuable. Some can be visible with the naked eye, and a popular example is the 1955 doubled die penny, which shows tremendous amounts of doubling and is a rarely found while coin roll hunting, as most coin dealers will notice the error and pick it up. </p><p><br /></p><p><i>Fig. 2- Example of the 1955 Doubled Die Penny</i></p><p>[ATTACH]241415.vB[/ATTACH]</p><p>Your best chance at succeeding and making lots of profit from coin roll hunting is to educate yourself. There are many different varieties, which once you understand what to look for, you’ll be great at coin roll hunting and you won’t miss a valuable coin. </p><p>In this part of The Guide to Coin Roll Hunting, I’ll talk to you about the different rolls you can find, because some are more important to you than others. I will say that if you ever find any fifty cent pieces, or half-dollars, check them for specific dates. Keep any 1974 Kennedy halves to check if there is a doubled die. Those are worth an average of a hundred dollars. You’ll need a magnifier to see one, and with research you might find them using your naked eye, but that’s rare. Also, silver is a priority when searching half-dollar, quarter, dime, and sometimes nickel rolls. Anything from 1970 or earlier is silver, and half-dollars minted during 1965-1970 in any condition have a composition of 40% silver. The minimum value is its silver melt (which is roughly 5 dollars), but that doesn’t mean you’re going to melt the coin! <i>Melt value </i>refers to the metal content of the coin. 1964 half-dollars are 90% silver and are worth 12 dollars! If the condition is <i>uncirculated</i>, it might be worth a couple dollars more. Any coins minted before 1964 usually command quite higher prices. Rarely, you can find Franklin halves and Liberty Walking Halves. Anything before that is extremely rare and should be appraised as soon as possible, and most likely certified. If you have a Redbook (highly recommended) you can see the mintage of each coin and its value in each condition. Lower mintage coins, such as the 1949 D Franklin half, is worth 550 dollars in MS-65 condition. An average Franklin Half is in about EF-AU condition. So any Franklin half is worth about 20 dollars. And if you’re lucky enough to find a Walking Liberty, you’re in good shape. In really beat up condition it is worth a minimum of 14 dollars, (G-4) and most 1921 Walking Liberty Halves in above VF (Very Fine-20) are worth getting certified. A 1916 S Obverse Mintmark is worth 435 dollars in VF condition. Now let’s talk about other rolls. Quarters are the least rewarding, but they can give really nice rewards if you do the research. Anything before 1965 in quarters and dimes is silver and is definitely worth keeping and putting in 2x2 flips, or tubes. Nickels can also be quite rewarding but only 1942-1945 nickels are silver, and those are on the rarer side, and also less rewarding. Dimes are more rewarding but there are not many variations. If you find the variations, they can be worth thousands of dollars. Pennies are the most recommended, and they have most varieties, but less value. You will never have silver pennies, of course. </p><p>Sooner or later you’ll learn that condition matters. The most commonly used scale for grading is the 1-70 scale, as I mentioned earlier. The grading scale is shown below, just to give you an idea of some condition types. </p><p> </p><p> </p><p><b>Perfect Uncirculated (MS-70). </b>Perfect new condition, showing no trace of wear. The finest quality possible, with no evidence of scratches, handling or contact with other coins. Very few regular issue coins are ever found in this condition.</p><p><b>Choice Uncirculated (MS-65). </b>An above average Uncirculated coin which may be brilliant or lightly toned and has very few contact marks on the surface or rim. MS-67 through MS-62 indicate slightly higher or lower grades of preservation.</p><p><b>Uncirculated (MS-60). </b>Has no trace of wear but may show a number of contact marks, and surface may be spotted or lack some luster.</p><p><b>Choice About Uncirculated (AU-55). </b>Barest evidence of light wear on only the highest points of the design. Most of the mint luster remains.</p><p><b>About Uncirculated (AU-50). </b>Has traces of light wear on many of the high points. At least half of the Mint luster is still present.</p><p><b>Choice Extremely Fine (EF-45). </b>Light overall wear shows on highest points. All design details are very sharp. Some of the Mint luster is evident.</p><p><b>Extremely Fine (EF-40). </b>Design is lightly worn throughout, but all features are sharp and well defined. Traces of luster may show.</p><p><b>Choice Very Fine (VF-30). </b>Light even wear on the surface and highest parts of the design. All lettering and major features are sharp.</p><p><b>Very Fine (VF-20). </b>A moderate amount of wear is noticeable on the high points of the coin's design. All major details are clear.</p><p><b>Fine (F-12). </b>The coin shows moderate to considerable even wear throughout. Entire design is bold with an overall pleasing appearance.</p><p><b>Very Good (VG-8). </b>Well-worn with main features clear and bold although rather flat.</p><p><b>Good (G-4). </b>Heavily worn with the design visible but faint in areas. Many details are flat. Common coins in "Good" condition are not particularly desirable pieces for collectors. Rare or valuable coins in this condition, however, are often saved when no others are available.</p><p><b>About Good (AG-3). </b>Very heavily worn with portions of lettering date and legend worn smooth. The date may be barely readable.</p><p>As a starter, I suggest looking at photographical grading guides to show you more precise grading on specific coins. For now, you’ll use this guide. Certified coins by TPGs, are a great start if you want to examine them since there grades are usually perfect. (Some earlier grades were graded less points due to strictness.)</p><p>Now is where I am going to get into the topic of toned or tarnished coins! Tarnished, is for people who don’t like toning, but personally I do and it can be quite beautiful.</p><p> </p><p><br /></p><p><i>Fig.3 Example of a rainbow toned Morgan dollar.</i></p><p><i>[ATTACH]241416.vB[/ATTACH]</i></p><p>Now that you know how to coin roll hunt, you can begin your adventure. Remember, anyone can strike it rich with rare coins in coin rolls!</p><p> </p><p> </p><p> </p><p>Resources:</p><p>And Credit goes to Strike it rich with Pocket Change, 3[SUP]rd[/SUP] edition for facts on silver and other various coins.</p><p><b>Strike It Rich with Pocket Change, 3rd Edition (book)</b></p><p><b>By Ken Potter and Dr. Brian Allen</b></p><p>Also credit goes to the Treasure Net forum, Beginners guide to coin roll hunting for tips on how to successfully coin roll hunt. </p><p><b><a href="http://www.treasurenet.com/forums/coin-roll-hunting/29389-beginners-guide-coin-roll-hunting-terms.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.treasurenet.com/forums/coin-roll-hunting/29389-beginners-guide-coin-roll-hunting-terms.htm" rel="nofollow">http://www.treasurenet.com/forums/coin-roll-hunting/29389-beginners-guide-coin-roll-hunting-terms.htm</a></b></p><p>And lastly, credit goes to the US mint for publishing this accurate grading scale.</p><p><a href="http://www.usmint.gov/about_the_mint/collectors_corner/index.cfm?action=grading" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.usmint.gov/about_the_mint/collectors_corner/index.cfm?action=grading" rel="nofollow">http://www.usmint.gov/about_the_mint/collectors_corner/index.cfm?action=grading</a>[/QUOTE]</p><p><br /></p>
[QUOTE="xGAJx, post: 1653011, member: 43897"]Hello Guys! I finished my report that I had to do for my sixth grade class, and Im posting below my research report that I did. This is intended for the amateur coin collector, who wants to be a coin roll hunter, and/or a coin dealer!;) Thank you anyways, Honest [B]The Guide to Coin Roll Hunting[/B] A research report In the hobby of coin roll hunting, coin collectors search rolls of pennies, nickels, dimes, quarters, and half dollars to find the hidden treasures found in circulation every day. Sometimes they even find precious metals like silver. Silver changes in price constantly, but at the time of this writing (February 2013) it is worth around thirty dollars a troy ounce, which can lead to enormous profits for coin roll hunters. I suggest you start with penny rolls, which have fifty cents per roll and cost accordingly. It should be mentioned that coin roll hunting in general is free because it can be exchanged at the bank for the equivalent value afterwards. As an amateur coin roll hunter, you may probably assume that all pennies are worth one cent. That is not true; in fact, one rare penny can sell for millions of dollars. Any penny minted before 1982 (dates are on the obverse, or Lincoln’s face) is made of 95% copper, which is worth about two and a half cents. Many people also assume that modern pennies are 100% copper, but really, they’re made out of only 97.5% zinc, and a very thin layer of copper. Pennies minted before 1959 are Wheat Pennies, or Wheaties. They are worth five cents in average condition. In higher condition, specimens may sell for higher than twenty dollars apiece. Pennies found before 1909 are much rarer because the U.S minted less of them, and they’re rarely found in penny rolls; if you do find one, get it appraised. A very beaten-up specimen is worth around 4 dollars. Anyway, in the first couple rolls, you might find a wheat penny. (Shown below) [I]Fig. 1 – Obverse and reverse of a wheat penny[/I] Its reverse (the back side of a penny) will have a much different layout then a regular penny. Coin roll hunting is a very fun hobby, and some coins can be worth far more than face value! [ATTACH]241413.vB[/ATTACH] [ATTACH]241414.vB[/ATTACH] [I]Grading[/I] is a coin term that has nothing to do with giving A’s on math tests. Grading can refer to the [I]grade[/I] or [I]condition[/I] of a certain coin. There are certain TPGs (third person graders) out there who grade your coins with their expertise for a hefty fee. Some examples are ANACS, PCGS, and NGC. However, some TPGs are unreliable, so heed my warning and stick to the mentioned three. You should only get coins graded to increase their value. Don’t get your coins graded if they are worth less than a hundred dollars because they won’t be worth the fees. Graded coins are placed in clear plastic cases to display both sides of the coin. This is the most highly recommended way to store rare coins. That’s only if you find really rare coins during coin roll hunting, though! To identify rare coins, I suggest you first buy a coin price guide book before you start. The Redbook™ is a reliable coin price guide. Condition is a very important matter when it comes to identifying coin values. There is only one way to grade coins, and it’s using the 1-70 point grading scale, 1 for signifying hardly identifiable, and 70 for being literally perfect. If you ever go to a coin dealer and say, “My coin is in good condition,” then you’ve basically undervalued your coin. “Good” is one of the worst conditions there is. Don’t feel ashamed if you made this mistake, because it’s very common for beginners. Doing lots of research on grading is highly recommended, it’s actually one of the most important parts of being a coin collector! The first time you find a rare coin, you may not even notice it! Look up [I]any [/I]funny-looking coins you find while coin roll hunting, because many are valuable errors or mistakes. Doubled dies are extremely popular errors when a die (a coin making device) is faulty and causes the coin to look doubled. These are usually found while using a 5x magnifier and are quite valuable. Some can be visible with the naked eye, and a popular example is the 1955 doubled die penny, which shows tremendous amounts of doubling and is a rarely found while coin roll hunting, as most coin dealers will notice the error and pick it up. [I]Fig. 2- Example of the 1955 Doubled Die Penny[/I] [ATTACH]241415.vB[/ATTACH] Your best chance at succeeding and making lots of profit from coin roll hunting is to educate yourself. There are many different varieties, which once you understand what to look for, you’ll be great at coin roll hunting and you won’t miss a valuable coin. In this part of The Guide to Coin Roll Hunting, I’ll talk to you about the different rolls you can find, because some are more important to you than others. I will say that if you ever find any fifty cent pieces, or half-dollars, check them for specific dates. Keep any 1974 Kennedy halves to check if there is a doubled die. Those are worth an average of a hundred dollars. You’ll need a magnifier to see one, and with research you might find them using your naked eye, but that’s rare. Also, silver is a priority when searching half-dollar, quarter, dime, and sometimes nickel rolls. Anything from 1970 or earlier is silver, and half-dollars minted during 1965-1970 in any condition have a composition of 40% silver. The minimum value is its silver melt (which is roughly 5 dollars), but that doesn’t mean you’re going to melt the coin! [I]Melt value [/I]refers to the metal content of the coin. 1964 half-dollars are 90% silver and are worth 12 dollars! If the condition is [I]uncirculated[/I], it might be worth a couple dollars more. Any coins minted before 1964 usually command quite higher prices. Rarely, you can find Franklin halves and Liberty Walking Halves. Anything before that is extremely rare and should be appraised as soon as possible, and most likely certified. If you have a Redbook (highly recommended) you can see the mintage of each coin and its value in each condition. Lower mintage coins, such as the 1949 D Franklin half, is worth 550 dollars in MS-65 condition. An average Franklin Half is in about EF-AU condition. So any Franklin half is worth about 20 dollars. And if you’re lucky enough to find a Walking Liberty, you’re in good shape. In really beat up condition it is worth a minimum of 14 dollars, (G-4) and most 1921 Walking Liberty Halves in above VF (Very Fine-20) are worth getting certified. A 1916 S Obverse Mintmark is worth 435 dollars in VF condition. Now let’s talk about other rolls. Quarters are the least rewarding, but they can give really nice rewards if you do the research. Anything before 1965 in quarters and dimes is silver and is definitely worth keeping and putting in 2x2 flips, or tubes. Nickels can also be quite rewarding but only 1942-1945 nickels are silver, and those are on the rarer side, and also less rewarding. Dimes are more rewarding but there are not many variations. If you find the variations, they can be worth thousands of dollars. Pennies are the most recommended, and they have most varieties, but less value. You will never have silver pennies, of course. Sooner or later you’ll learn that condition matters. The most commonly used scale for grading is the 1-70 scale, as I mentioned earlier. The grading scale is shown below, just to give you an idea of some condition types. [B]Perfect Uncirculated (MS-70). [/B]Perfect new condition, showing no trace of wear. The finest quality possible, with no evidence of scratches, handling or contact with other coins. Very few regular issue coins are ever found in this condition. [B]Choice Uncirculated (MS-65). [/B]An above average Uncirculated coin which may be brilliant or lightly toned and has very few contact marks on the surface or rim. MS-67 through MS-62 indicate slightly higher or lower grades of preservation. [B]Uncirculated (MS-60). [/B]Has no trace of wear but may show a number of contact marks, and surface may be spotted or lack some luster. [B]Choice About Uncirculated (AU-55). [/B]Barest evidence of light wear on only the highest points of the design. Most of the mint luster remains. [B]About Uncirculated (AU-50). [/B]Has traces of light wear on many of the high points. At least half of the Mint luster is still present. [B]Choice Extremely Fine (EF-45). [/B]Light overall wear shows on highest points. All design details are very sharp. Some of the Mint luster is evident. [B]Extremely Fine (EF-40). [/B]Design is lightly worn throughout, but all features are sharp and well defined. Traces of luster may show. [B]Choice Very Fine (VF-30). [/B]Light even wear on the surface and highest parts of the design. All lettering and major features are sharp. [B]Very Fine (VF-20). [/B]A moderate amount of wear is noticeable on the high points of the coin's design. All major details are clear. [B]Fine (F-12). [/B]The coin shows moderate to considerable even wear throughout. Entire design is bold with an overall pleasing appearance. [B]Very Good (VG-8). [/B]Well-worn with main features clear and bold although rather flat. [B]Good (G-4). [/B]Heavily worn with the design visible but faint in areas. Many details are flat. Common coins in "Good" condition are not particularly desirable pieces for collectors. Rare or valuable coins in this condition, however, are often saved when no others are available. [B]About Good (AG-3). [/B]Very heavily worn with portions of lettering date and legend worn smooth. The date may be barely readable. As a starter, I suggest looking at photographical grading guides to show you more precise grading on specific coins. For now, you’ll use this guide. Certified coins by TPGs, are a great start if you want to examine them since there grades are usually perfect. (Some earlier grades were graded less points due to strictness.) Now is where I am going to get into the topic of toned or tarnished coins! Tarnished, is for people who don’t like toning, but personally I do and it can be quite beautiful. [I]Fig.3 Example of a rainbow toned Morgan dollar. [ATTACH]241416.vB[/ATTACH][/I] Now that you know how to coin roll hunt, you can begin your adventure. Remember, anyone can strike it rich with rare coins in coin rolls! Resources: And Credit goes to Strike it rich with Pocket Change, 3[SUP]rd[/SUP] edition for facts on silver and other various coins. [B]Strike It Rich with Pocket Change, 3rd Edition (book)[/B] [B]By Ken Potter and Dr. Brian Allen[/B] Also credit goes to the Treasure Net forum, Beginners guide to coin roll hunting for tips on how to successfully coin roll hunt. [B][URL]http://www.treasurenet.com/forums/coin-roll-hunting/29389-beginners-guide-coin-roll-hunting-terms.htm[/URL][/B] And lastly, credit goes to the US mint for publishing this accurate grading scale. [URL]http://www.usmint.gov/about_the_mint/collectors_corner/index.cfm?action=grading[/URL][/QUOTE]
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