Coin collecting is a popular hobby in America and around the world. This hobby is not only fun and historically educational, but it also makes for a decent investment strategy. There is more to coin collecting than simply hoarding old pennies and quarters, however. If you are thinking about starting a coin collection, here are a few terms that you should know:
Alloy
An alloy is a combination of two or more metals. Many modern coins are made from alloys, as alloys can provide traits like increased strength and desired colors. A serious collector should know his alloys.
Assay
When a collector or investor wants to learn the value of a coin or other precious metal item, he must take it to a professional who will assay it, or analyze it for the sake of determining the monetary value.
Clad Coinage
A clad coin is a coin with a core metal and an outer layer made from a different metal. Many modern coins are made this way, including all U.S. dollar coins, 50-cent pieces, quarters, and dimes.
Key Date
Oftentimes, coin collectors gather sets and series of coins organized by date. If a collector has completed one of these collections save for one rare coin from a specific year, he is said to be missing a key date.
Type Set
A type set is a collection of coins of a particular monetary denomination. For example, a collector might have a collection of every version of the penny ever minted by the United States.
If you’ve been collecting coins and are ready to sell a few, whether for some extra cash or to make room for a new set, contact California Numismatic Investments today and we can help get you some wonderful Austrian 4 Ducats. We are America’s largest dealer in precious metals, and your top source for buying or selling gold and silver. Call (800) 225-7531 to learn more.