• SPECIALIZING IN JAPAN

• IBNS (Treasurer; Past President; LM 8)

• ANA (Board Member, 2007-2009, Chief Judge, 1991-93, 1995-2007; LM 2888)

• PNNA (former Secretary, Treasurer; HLM 26)

• ANS (Standing Committee on East Asian Coinage; Life Fellow)

• FRNS, NLG, ONS, NI, SPMC, UCC, SCC

Revised 7 January 2002; partially revised by PNNA webmaster, Sept. 2008.

Collectibles — money (numismatics)

• Numismatics — the collection and study of coins, medals, tokens, decorations, paper money, stocks/bonds, souvenir cards, exonumia

• Where found — circulation, family hoards, treasure, auctions, dealers, coin shows, "mints," museums

• Sorting and classification — general knowledge, examination, reference books

• Care (with care) and cleaning (don’t)

• Housing and storage — working, permanent, short term, long term — metallic and paper

• Authentication — contemporary counterfeits, museum counterfeits, commercial counterfeits, collectors’ counterfeits, "innocent" replicas, the Hobby Protection Act

• Grading — adjectival, numeric, proof, third-party, foreign, paper

• Evaluation — face value, intrinsic (bullion) value, retail sale offerings, auction prices realized, reference books

• Retail vs. wholesale

• "Investment" potential — short term (none), long term (possibly)

• Appraisal — insurance, probate, sale

• Disposal — gift (family, charity), auction, sale (collector, dealer), consignment for sale

• Hobby associations — national, regional, local, specialized

• Exhibiting — competitive, non-competitive (local, regional, national, international)

• Sources of information — book stores, public libraries, numismatic book sellers, dealers, collectors, hobby association libraries

The following is a more detailed explanation of the above topics.

Numismatics — each of the areas below has a wide following and specialist organizations

• coins — US, foreign, commemorative, "non-circulating legal tender," ancient, primitive, errors

• medals — commemorative, award, amuletic, souvenir, elongated coins, love tokens

• tokens — "good for," emergency, transit, sales tax, ration, advertising, gambling, communion, woods

• decorations — orders, decorations, campaign medals, service medals, fraternal badges

• paper money — currency (governments at all levels, banks), scrip, emergency, military

• scripophily — stocks, bonds, autographs, warrants, broadsides, lottery tickets

• souvenir cards — replicas of (usually) banknotes to commemorate coin conventions or other events

• exonumia — political materials, advertising mirrors, ribbons

Where found

• circulation — pocket change or current notes, domestic and foreign

• family hoards — cigar boxes, safe deposit boxes, jars of cents, heirlooms (including jewelry)

• treasure — sunken, buried, metal-detected

• auctions — estate sales, liquidations, collectibles, numismatic

• dealers — vest pocket, full time, storefront, itinerant, national and international houses

• coin shows — local, regional, national, international

• "mints" — national, commercial, mass advertisers, telemarketers

• museums — local historical, banks, universities, numismatic

• general knowledge — slang names, daily usage

• examination — legends, devices, dates, mint marks, privy marks

• reference books — general, specialized

• Handle by edges (especially copper/silver, items with proof surfaces)

• Handle with care (especially paper)

• DO NOT CLEAN — use no abrasives, silver polish, "dip," soap and water, oils, erasers

• Leave cleaning to specialists — there are safe ways to clean, but only in the hands of experts
  Editor's note: Also see my comments under "Grading."

• working storage — soft plastic holders ("flips"), 2x2 coin holders, paper envelopes, "penny boards"

• permanent storage — archival materials (Mylar or polyethylene plastics, acid- and sulfur-free papers/bindings), low humidity, stable temperatures, no coins in contact

• contemporary counterfeits — meant to deceive the commercial public in circulation

• museum counterfeits — electrotypes, casts

• commercial counterfeits (gold coins) — created when holding gold was restricted — thousands exist

• collectors’ counterfeits — meant to deceive collectors (now or earlier) (cast, struck, altered)

• "innocent" replicas — advertising promotions, amuletic pieces

• Hobby Protection Act — requires that replicas be marked (since 1973); domestic application only; not well-known or well-observed

Grading

• adjectival — poor, fair, good, very good, fine, very fine, extremely fine, about uncirculated, uncirculated (choice, gem, and so forth); different standards for every coin type

• numeric — AG-3, G-4, VG-8, F-12, VF-20, VF-30, EF-40, EF-45, AU-50, AU-55, AU-58, MS-60 to MS-70

• what’s a proof? — a method of manufacture, not a grade, though proof coins also get graded

• third-party — ANACS, PCGS, NGC, others; "Eagle-Eye"; technical grading vs. "market" grading

• foreign — some standards exist for Canada, Britain, but none so detailed as for US coins

• paper — same adjectival grades, common across issues, but to different standards (IBNS for world notes, US commercial (more lenient)); numeric grading of paper just starting to be accepted
  Editor's note: Also see my comments under "Grading."

• face value — if still valid (often worth more than face value for older issues in high grades)

• intrinsic (bullion) value — value of silver or gold (in troy ounces) at market rate, less smelting charges

• retail sale offerings — must be for same grade and variety; can vary widely

• auction prices realized — must have several examples, and must also be same grade/variety

• reference books — can be outdated, are only estimates in any event (or worse — can be self-serving)

• Spread can be as low as 10% for high value pieces with an immediate turnover; material can be non-salable if common or in low grade (or if offered to the wrong buyer). Figure on being offered 40%-60% of retail for desirable material; much less for low-end material.

• short term — virtually none; the spreads are too large, the material not very liquid; exception could be bullion coins in a volatile precious metals market (with equal potential for loss)

• long term — only if collected with an objective in mind and with knowledge born of studying the series; if the best quality material is acquired, then held for years (or decades); and if disposed of properly.

• for insurance — appraise at replacement cost (must describe the material explicitly)

• for probate — appraise at low wholesale

• for sale — appraise at "best wholesale" or auction expectation (and be prepared to take the time to achieve this result — see disposal below)

• gift (family) — bequeath or give to a family member who will appreciate the material or who will know how to dispose of it advantageously if retention is not desired

• gift (charity) — similar to above, but with knowledgeable tax advice (this can be tricky)

• auction — find the company that specializes in your material (divide it if necessary); be prepared to wait for several months to be paid; expect some results to be disappointing

• sale (to collector) — find a collector who specializes in and needs the material (not someone planning to turn it over)

• sale (to dealer) — find a dealer who specializes in your material (divide it if necessary); get several offers; negotiate

• consignment (to dealer) — expect some pieces to not sell (and thus be nearly unsalable if you selected the proper dealer to handle the material); expect to wait many months for final disposition
  Editor's note: Also see my comments under "Coin Buying and Selling."

• national — American Numismatic Association; American Numismatic Society (ANS); similar organizations in many countries

• regional — Pacific Northwest Numismatic Association (this web site!)

• local — see local club list

• specialized — many, dealing with individual series or issuers of coins, or with paper money, tokens, medals, exonumia, and so forth; see the listing following.

Exhibiting — a means of sharing knowledge (or bragging about what you have)

• competitive — for trophies, occasionally for valuable coins, at local to national levels

• non-competitive — for the experience, or to educate, at local to national levels

• book stores — for the most common general-purpose books on US and foreign coins or notes

• public libraries — for the same books, and the occasional specialized book

• numismatic book sellers — sell at retail or auction, and can be the only source for obscure or out of print books and journals

• dealers — will often share their knowledge and libraries, but not always, and nobody knows everything

• collectors — will often share their knowledge, and write many articles/books for specialty societies

• hobby association libraries — have depth of resources found in few places; some loan books by mail

• Editor's choice: This web site and the many other numismatic sites on the Internet!

National, regional, and specialty societies

• American Numismatic Association
  818 North Cascade
  Colorado Springs, CO 80903-3279
  800-467-5725 (member services)
  http://www.money.org
  dues $33/yr ($29 for seniors 65+, plus $6 initiation fee, first year)
  monthly journal (The Numismatist), semiannual convention

• American Numismatic Society
  Broadway at 155th Street
  New York, NY 10032-7598
  212-234-3130 (fax 212-234-3381)
  http://www.amnumsoc.org
  dues $40/yr, quarterly newsletter

• Canadian Numismatic Association
  Executive Secretary
  PO Box 226
  Barrie, Ont L4M 4T2 CANADA

• International Bank Note Society
  Milan Alusic, General Secretary
  PO Box 1642
  Racine, WI 53401
  dues $20/yr ($25 family), quarterly Journal

• Society of Paper Money Collectors
  Bob Cochran, Secretary
  PO Box 1085
  Florissant, MO 63031
  dues $24/yr, bi-monthly Paper Money

• Token and Medal Society
  PO Box 951988
  Lake Mary FL 32795-1988
  bi-monthly TAMS Journal

• Numismatics International
  PO Box 670013
  Dallas, TX 75367-0013

• Pacific Northwest Numismatic Association
  dues $10/yr, $15 family or club

• Northwest Token and Medal Society

• Blue Ridge Numismatic Association

• Central States Numismatic Society

• Colorado-Wyoming Numismatic Association

• Eastern States Numismatic Association

• New England Numismatic Association

• Penn-Ohio Coin Clubs

plus state associations for most states, several each for the very populous states

• American British Numismatic Association

• American Israel Numismatic Association

• American Medallic Sculpture Association

• American Political Items Collectors

• American Society for Portuguese Numismatics

• American Society of Check Collectors

• American Tax Token Society

• American Vecturist Association (for transit token collectors)

• Amusement Token Collectors Association

• Armenian Numismatic Society

• Barber Coin Collectors Society (named for coin designer Charles Barber)

• Bust Half Nut Club

• Casino Chip and Gaming Token Collectors Club

• Civil War Token Society

• Colonial Coin Club

• Combined Organizations of Numismatic Error Collectors of America (CONECA)

• Currency Club of Chester County, Penna.

• Currency Club of New England

• Dedicated Wooden Money Collectors

• Early American Coppers, Inc.

• The Elongated Collectors

• Indiana-Kentucky-Ohio Token and Medal Soc

• Int’l Assn of Professional Numismatists

• Int’l Association of Silver Art Collectors

• Int’l Association of Wooden Money Collectors

• International Primitive Money Society

• International Society of Jeton Collectors

• John Reich Collectors Society

• Latin American Paper Money Society

• Liberty Seated Collectors Club

• Lithuanian Numismatic Society

• Love Token Society

• Medal Collectors of America

• National Scrip Collectors Association

• National Silver Dollar Roundtable

• Numismatic Bibliomania Society

• Numismatic Literary Guild (for authors and editors)

• Old Time Assay Commission Society

• Oriental Numismatic Society

• PAK Jefferson Full Step Nickel Club

• Paper Money Collectors of Michigan

• Polish-American Numismatic Society

• Professional Currency Dealers Association

• Professional Numismatists Guild (for dealers)

• Russian Numismatic Society

• Societe Americaine pour l’Etude de la Numismatique Française

• Society for Ancient Numismatics

• Society for Medieval Numismatics

• Society for U.S. Commemorative Coins

• Society of Lincoln Cent Collectors

• Society of Philatelists and Numismatists

• Society of Private and Pioneer Numismatics

• Society of Ration Token Collectors

• Souvenir Card Collectors Society

• World’s Fair Collectors Society

U.S. coins

• Yeoman, R.S., A Guide Book of United States Coins. Western Publishing Co., annual, "The Redbook" (retail values).

• Yeoman, R.S., A Handbook of United States Coins. Western Publishing Co., annual, "The Blue Book" (wholesale values).

• American Numismatic Assn., Official American Numismatic Association Grading Standards for United States Coins, 5th ed. American Numismatic Association, 1996.

• Ruddy, James F. New Photograde. Bowers and Merena Galleries, 1988.

U.S. paper money

• Hessler, Gene. The Comprehensive Catalog of U. S. Paper Money. BNR Press, 1997.

• Friedberg, Robert. Paper Money of the United States. Krause Publications, 199?.

• Krause, Chester L., and Robert F. Lemke. Standard Catalog of United States Paper Money, Krause Publications, annual.

• Newman, Eric P. The Early Paper Money of America, Krause Publications, 1997.

• Criswell, Grover C. Comprehensive Catalog of Confederate Paper Money. BNR Press 1996.

World coins

• Krause, Chester L., and Clifford Mishler. 2002 Standard Catalog of World Coins: 1901-present, 29th ed., Krause Publications, 2001.

• ——. Standard Catalog of World Coins: 1601-1700, 2nd ed, Krause Publications, 1999.

• ——. Standard Catalog of World Coins: 1701-1800, 2nd ed, Krause Publications, 1997.

• ——. Standard Catalog of World Coins: 1801-1900, 3rd ed, Krause Publications, 2001.

World paper money

• Shafer, Neil, and Colin R. Bruce II, eds. Standard Catalog of World Paper Money: vol. 1, specialized issues, 8th ed, Krause Publications, 1998.

• ——. Standard Catalog of World Paper Money: vol 2, general issues 1368-1960, 9th ed., Krause Publications, 2000.

• Bruce, Colin R. II and Neil Shafer, eds. Standard Catalog of World Paper Money: vol. 3, modern issues, 1961-2000, 7th ed, Krause Publications, 2001.

Military

• Schwan, Fred. Comprehensive Catalog of Military Payment Certificates, BNR Press, 1997.

• Schwan, C. Frederick, and Joseph E. Boling. World War II Remembered: history in your hands, a numismatic study, BNR Press, 1995.

Periodicals

• Coin World, PO Box 150, Sidney, OH 45365-0150, 800-673-8311 FAX 937-498-0812 subscriptions 800-253-4555.

• Numismatic News; World Coin News; Banknote Reporter, Krause Publications, 700 E. State St., Iola, WI 54990-0001, subscriptions 800-258-0929 FAX 715-445-4087.

• The Numismatist, American Numismatic Association, 818 North Cascade, Colorado Springs, CO 80903-3279 800-467-5725 (member services).

plus hundreds of other titles (I have twelve bookcases of numismatic books and periodicals)!