Slideshow

Wednesday, October 12, 2011

Cleaning Of Dirty Coins

 A coin collector should always take care when cleaning the coins. Coins should not be cleaned if unless you know the proper method. Do not use any chemical or wire brush if u are not sure about the proper procedure. Here are some useful tips for cleaning the coins:                              

 1. Silver Coins should be cleaned with soap water and rubbed with fingers. Tooth paste can also be used in place of soap water.

 2. Sometimes over a period of time there is a greenish deposit found on the coins made of copper and bronze. To clean it coconut oil or lemon juice with water or tamarind water can be used. For rubbing use only hard brush made of nylon. Wire brush or any other hard material should never be used for this purpose.  Apply a thin layer of any edible oil to these coins to prevent formation of greenish deposit on them. If the coins are uncirculated (UNC) then it is not advisable to apply anything to them. 

How Can You Find A Good Coin Dealer ?

It is very important to find good coin dealers who can help you in starting a new coin collection and also in selling your collection. Its easy to find a coin dealer but all cannot be considered as honest ones. Here are some advices that you should be considered before dealing:

 1. Is he famous among other coin dealers ? : First thing to consider is that is your dealer famous with the others around. If a dealer is not famous among others then chances are that he may not be experienced enough or he may not be a reliable one. If a dealer shares a bad reputation with his peers then also he must be avoided. Especially when you are collecting coins as an investment. 

 2. Is he experienced enough ? : When you invest in a land, gold, shares, mutual funds etc. you rely on expert advice because its your investment and you don't want to take any chance with it. Similarly If a coin dealer is not experienced enough then chances are that he may not give you proper advice regarding what to collect. People cannot become coin expert just by reading some books, this is an art which comes with experience. If you are buying coins as an investment then do not go to a coin dealer unless he is an considered a knowledgeable and honest person in his field.

 3. Does he have sufficient asset ? : If your dealer is experienced, reliable and well known then he will be having long list of old customers & most probably he will be having a good asset to his name. A dishonest coin dealer will not be well known and certainly will have very few customers. So he might not have a good amount of asset to his credit. Also if a dealer has sufficient asset then chances are that he will not run away and will continue his business for long. So you might find him at the same place even after few months/years, if the coin sold by him is found to be fake. If a dealer is financially stable then he will be in a position to return your money or even compensate for his fake coin. Although these days dealers provide a certificate along with the coins stating its authenticity but we know even certificates can be fake. 

 4. What respect does he have for you ? : A dealer who does not give much respect to you or your collection may actually be trying to show that your collections are not worth much. This gesture is to give a feeling to collector that his collections are not worth much. This sometimes makes a collector sell his collections to the same dealer thinking that its no longer profitable to keep the coins with himself.  Unfortunately, some dealers just do the opposite to get a good bargain. So you must act wisely before choosing a coin dealer.

 5. Does he belong to an association ? : Dealers have to fulfill several conditions before joing a particular renowned association. This will give you some assurance about his credibility.

Various Edges Of The Coins

The following edges of coins are found on Indian coins:  
                        
 1. Plain edge - A plain edge has no marking of any kind on the edge. e.g. coin of 1 rupee of 2009.

 2. Reeded edge / Milled edge - A reeded or milled edge has fine serrations (just like a file) around the rim. It is also known as filed edge. e.g. 1 rupee silver coin of King & Emperor Edward vii 1907.

 3. Security edge - It is a combination of grooved and reeded edge; between the groove some decorated  pattern is found. Its appears like two coins joined together. e.g. coin of 5 rupees of 2003.

 4. Oblique Edge - It has serration at an Angle of 30°-45° to the rim.