Neil S. Berman - Coin Collecting For Dummies

Hard plastic holders: Expensive and cumbersome to use. These holders consist of three layers of hard plastic — one to hold the coin and two outer layers for protection — all screwed together (see Figure 4-4). Often custom-made, the holders are available in a variety of sizes and colors for individual and multiple coins. Custom printing may be added to these holders to identify the coins. The plastic layers are essentially inert (don’t react chemically with the coins), so they’re perfect for long-term storage. Hard plastic holders are attractive and offer clear views of both sides of the coin. They’re used by collectors for expensive coins that they plan to keep for some time. FIGURE 4-4:Hard plastic holders for storing coins. If the diameter of the hole isn’t perfect, the coin will shift around in the holder, thereby exposing the coin to abrasive movement. If the hole is too small, it must be enlarged by hand, often resulting in an amateurish appearance, and some air and moisture may seep in through the sides.

Slabs: Expensive, but the best option. The cost of slabbing a coin can range from $10 to more than $100, depending on the company you used and the level of service you choose. Slabs are the hard plastic cases used to encapsulate coins graded by independent certification companies (see Figure 4-5). A small slip of paper sealed in the holder identifies the coin and shows the grade assigned to it. These holders are excellent for long-term storage; they offer the tightest seals of all holders, and some are said to be watertight and airtight. Some slabs include bar codes on the internal labels for convenient inventory control via a bar-code reader, a database, and a computer. This type of holder is the only choice for professional coin dealers and serious collectors. Slabs are among the bulkiest coin holders, so storage can become a problem. FIGURE 4-5:Slabs, good for storing and trading coins.

Coin album: A broad range of prices, quality, and levels of protection. Various types are available for the coin collector (see Figure 4-6), including basic albums with holes in which the coins are pushed, albums with vinyl pages, and albums in which coins are placed in holes that are protected on both sides by plastic slides. Most albums and folders are designed for specific collections (Lincoln cents, peace dollars, and so on). Albums and folders are especially suited for lower-grade circulated coins (worn coins). The empty holes urge you to continue collecting. Albums and folders make organizing and displaying your collection a cinch. This option is the method of choice for most beginning collectors. FIGURE 4-6:Coin albums for storing coins in sets. Paper folders will eventually tone your coins; also, only one side of the coin is visible. Vinyl albums may leak PVC. Improper use of the slide-type albums can leave damaging slidemarks (hairline scratches) on the surfaces of your coins.

Tube: Very convenient and relatively inexpensive for storing and protecting large quantities of coins. Coin tubes are used to store rolls of coins of various denominations (see Figure 4-7). Some tubes are round and clear; others are square and opaque.

FIGURE 4-7:Tubes for storing large quantities of coins.

I remember the day when a nicely dressed man in his mid-40s came into my coin shop with a complete set of peace dollars he wanted to sell. The man explained that his father had painstakingly built the collection over many years. He inherited the coins after his father died. Now, many years later, he was curious to find out how much more valuable his coins had become.

Before I opened the album, the man pointed out that some of the coins had become tarnished over the years, so he had cleaned them to make it easier for me to see what they looked like. Hearing that, my heart sank. Sure enough, when he opened the album, I saw rows and rows of bright, shiny peace dollars. But they were too bright and shiny; all were obviously scrubbed and cleaned. Once beautiful, high-grade coins, now they were pieces of junk worth a fraction of their former value. A very disappointed person left my store that day.

Leave coin cleaning, which should rarely be done, to conservators. Never clean a coin yourself. Never. Ever.

Most coins should be left alone, but some coins cry out to be cleaned. The following coins could benefit from a cleaning, but all need to be treated differently:

Coins found by metal detectors

Coins that are extremely dark and tarnished

Coins that have developed film from spending too much time in a vinyl coin holder

Coins with tape residue or some other localized problem

I know you have coins that need to be cleaned, and I know you’re dying to clean them. So because you’re going to do it anyway, I may as well give you some safe cleaning tips. (Abstinence seems to be out of the question.) Please practice these techniques on inexpensive coins until you feel comfortable cleaning coins that are more desirable. Never clean coins that are valuable; take them to a professional instead. Finally, if you don’t feel comfortable cleaning coins, don’t do it.

Dirt is an abrasive that will scratch the heck out of a coin if you’re not careful. Never rub, never scrub, and never polish; always use a light touch. Follow these steps to remove dirt:

1 Use an artist’s paintbrush to lightly whisk off any surface dirt.Be careful not to exert any pressure.

2 Rinse the coin under warm water to remove additional surface dirt.Don’t rub the coin between your thumb and forefinger.

3 After rinsing the coin, pat it dry with a soft towel.Avoid pressure and any rubbing motions.

Don’t use paper towels to dry a coin; the wood fibers in the paper may leave hairline scratches on fine surfaces. Use a 100 percent cotton cloth.

If you have really crusty and dirty coins, soak them in olive oil for a couple of days; then try picking the dirt off with a toothpick. Again, be careful not to exert too much pressure; the toothpick may scratch your coin.

Several years back, a dealer friend of mine handed him a well-struck (nearly perfect) 1913 Indian-head nickel with full, complete details, and he asked whether Ithought it was a coin made for circulation or a coin that had been specially prepared for collectors (referred to as a proof ). The two men were standing at the reception desk of a hotel, and as Iturned the coin over to examine the other side, it flipped out of his fingers and fell about 4 feet to the hard tile floor. Besides feeling like a fool, Iwas even more upset to discover a big bruise on one of the rims of the coin. The bruise destroyed much of the coin’s value and desirability. Suddenly, the coin was most certainly a proof in my friend’s eyes. I was forced (shamed, actually) into buying the coin for a lot more than it was worth — especially for a coin that no self-respecting collector would buy. He found out a lot about handling coins from that lesson, including this: If you break it, you own it.