Frequently Asked Questions
about the Coin Collecting Hobby

The following questions and answers are often asked by newcomers to the coin collecting hobby. At R. Howard Rare Coin Gallery, we hope to present an internet coin experience that is as friendly to novices as it is to veterans of the numismatics industry!

Q: I'm interested in collecting coins. How should I get started?

A: Pick a set to assemble. Lincoln cents and Morgan dollars are the most popular. Morgan dollars, for example, were made from 1828 until 1921, so you could collect a Morgan dollar from each year. Coins are made in mints in various cities, and each year has several varieties of the same coins made in different mints, so you'll be collecting several coins from each year.

Be sure to acquire a guide book as well. A good one is the "Red Book," also known as "A Guide Book For United States Coins." (Click the link to order this book.) We also have a variety of coin collecting kits that are helpful for those just getting started.

Q: I have some old coins laying around, how can I find out how much they are worth?

A: Use your "Guide Book to United States Coins" or take the coin(s) to a full-time coin dealer for evaluation. In any case, coins need to be physically examined to determine value, we cannot determine the value of your coins over the phone or by e-mail!

Q: What kind of things make a coin more valuable than others?

A: Condition and availability. A certain year and mintage of coin might be particularly sought after for a variety of interesting reasons. For example, a particular batch of coins might have had a particularly rough ride in the horse drawn carriages that transported them, causing more damage than usual. Such a mintage of coin would be harder to find in good condition, causing an increase in value. A word of warning: mintage numbers, or how many of a particular coin was made in a particular year, are often misleading.

Q: I see that some of your coins are "certified" and others are not. What is the difference? Should I always buy certified coins?

A: We advise certified coins for large dollar purchases. Certified coins are graded and encapsulated ("slabbed" in coin hobbyist terminology) by third party companies who specialize in grading. Uncertified coins are called "raw," and are graded by the dealer who is selling the coin.

Q: Can you explain how coins are graded, and what the various grades mean?

A: The art of coin grading is complex indeed, and it takes much time and practice to understand the finer points. It isn't too hard to understand the basic premise, however.

Basically, coins are broken down into the following grades:

AG = About Good. Very worn coin but date is still legible.

G = Good.

VG = Very Good.

F = Fine.

VF = Very Fine.

EF = Extremely Fine.

AU = About Uncirculated. This means that the coin has only minimal wear but was indeed in circulation, if only briefly.

MS = Mint State. Coin only has damage from the minting process itself. Coin has not been in circulation.

Q: What do the little letters after the years mean, for example 1878-S?

A: The letters are "mint marks", which designate which mint made the coin. Coins are minted in the following cities:
San Francisco (S)
New Orleans (O)
Philadelphia (P)
Carson City (CC)
Denver (D)

Q: I am interested in learning more about coins and coin collecting. Can you refer some books or periodicals on the subject?

A: One valuable reference for hobbyists and dealers alike is the "Red Book," also known as "A Guide Book For United States Coins." (Click the link to order this book.) Coin World is the standard industry newspaper, check out www.coinworld.com for more information on "Coin World." Another popular newspaper is the "Numismatic News." New collectors can benefit from our coin collecting kits, which include all the supplies you need to start a collection. Find them in our "new collectors" section.

Q: I sometimes see the term "proof." What does that mean?

A: Proof is a grade and type of production of a coin that was double-struck producing mirror-like images. These coins were and are sold to collectors and not for circulation. A proof coin is graded using the designation "PR" instead of "MS."

Q: Can coins be used as an investment opportunity?

A: Coins of high quality and high demand have appreciated 10 percent a year and more! Send for our investment brochure, which is free with any purchase (five dollars otherwise).

Q:Do you buy coins as well as sell them? Do you buy from private individuals as well as dealers?

A: We are a nationally known buyer via "Coin World" since 1971! We buy from individuals and dealers daily!