Getting Back to Basics
In keeping with this column's focus on "Basics & Beyond,"
this month I will go back to basics and review a Smithsonian Book written by
David Ganz: Guide to Coin Collecting. Ganz is among other things a
lawyer, a politician on the local level, the author of many numismatic books
and articles, and "a nationally recognized numismatics expert." In
other words, Ganz is definitely someone qualified to produce a coin collecting
guide.
In Chapter One, Ganz starts at the very beginning, with the history of coin
making. He writes, "Coinage began some 2,800 years ago in the kingdom of
Lydia, located in modern-day Turkey. In Lydia, coins were made of
electrum, a natural gold-and-silver alloy.&" Obviously, even at
the very beginning, gold and silver were important indicators of value. In his
discussion, Ganz mentions Chinese spade money, cocoa beans, and
"knife money" that was used in a number of countries.
Chapter Two covers "American Coinage History." Some of the more
interesting (to collectors) coins pictured in the chapter include the 1907
Saint-Gaudens high relief gold $20, the 1776 Continental dollar, the 1916
Standing Liberty quarter, and the 1909-S V.D.B. Lincoln cent (mislabeled as a
1909 V.D.B.).
Chapter Two's sidebars include "Founding of the U.S. Mint," Glenna
Goodacre (the designer of the Sacagawea dollar), and the Kennedy 50-cent piece.
As you would expect given his reputation as the "father of the state
quarter program," Ganz devotes a couple of pages to the discussion of the
program's origin.
Chapter Three is titled "The Coin, Up Close and Personal."
As you would expect, Ganz again starts at the very beginning in this chapter,
first defining the terms "obverse," "reverse," and
"edge." Some of the other topics discussed, or at least defined, in
the chapter include "adjustment marks," "fineness,"
"field," "mintmark," and "incused design." The
coin minting process is covered under such headings as "blanking,"
"annealing," "striking," "inspection," and
"proof coins."
Ganz begins Chapter Four, "What to Collect," by discussing all
the different ways that the state quarter series can be collected. Examples
include by date and mintmark, by date only, by proof coin regular issues, by
silver proof coins only, and so on. He then talks about all the
different ways that U.S. and world coinage can be collected.
"Tools of the Collecting Trade," Chapter Five, discusses many
basic, but essential, elements of coin collecting. Some of the most important
elements include coin storage (many coins have been ruined by improper storage),
tools for viewing your coins (light source and magnifier), and an inventory
list or computer program. Ganz also talks about coin clubs and coin museums.
Chapter Six looks at different ways to acquire coins for your collection.
Chapter subheadings include "Pocket Change," "Bulk Acquisition
from Banks," dealer junk boxes, "Local Merchants," and "The
Internet." In one sidebar, "Buying Coins Directly from the
Mint," Ganz provides a list of several mints (e.g., United States, France,
England, Japan, Australia, Canada) complete with mailing addresses, phone
numbers, and web addresses.
Chapter Seven considers an issue that's nearly always at the top of any
collector's mind: "What's It Worth?" As Ganz expresses it,
"People collect coins for many different reasons, but the storehouse of
value that each contains ranks high with nearly every collector." Some of
the chapter's subheadings include "Quantities Minted,"
"Quantities in Circulation," "Mintmarks," and the all-important
"Grading." One of the sidebars contains a list of
grading/certification services, complete with web addresses.
Chapter Eight asks a question whose answer can make or ruin a collector's
day: "Is It Genuine?" In this chapter, Ganz talks about how much
better the situation is today than it was a couple of generations ago. Now, we
have certification services that will, for a fee, determine whether or not a
coin is a counterfeit or has been altered. As Ganz puts it, "Two things
simultaneously weakened the scourge of counterfeiting: first, the creation of
the American Numismatic Association Authentication Trust (ANAT, later
ANACS) certification service; second, passage by Congress of the Hobby
Protection Act."
Chapter Nine, "Managing Your Collection," covers some of the same
ground discussed in an earlier chapter, as it opens with sections devoted to
storing and inventorying your collection. However, Ganz, as an attorney, gets
into an important, but not widely discussed problem for the collector: What
will become of your collector when you die? Some of the suggestions Ganz makes
include having a current inventory, preparing a list of individuals or firms
that you would trust to handle your collection, and leaving written
instructions for your heirs.
Chapter 10, "Coins of Distinction," discusses and pictures some
of the ultrarare coins in the Smithsonian's collection. Examples include a 1933
gold $20, a 1913 Liberty Head nickel, and an 1804 silver dollar.
With a list price of $19.95, this 154-page paperback book contains a wealth
of information for the new (and more established) collector. It's well-written,
beautifully illustrated, and fully deserving of a slot in your numismatic
library. It can be ordered directly from the publisher, HarperCollins, or from
online booksellers such as Amazon.
Source: numismaster.com