5. New Saturday Hours; Saturday we are now open from 2 p.m-6 p.m. Sunday is still 11-6pm.

OUR NEXT PACK WAR WILL BE FRIDAY NIGHT "April 25" WHICH IS THE LAST FRIDAY OF THE MONTH. 

ALMOST PACKS IN THE PACK WAR WERE $1.00 EACH, THE LAST FRIDAY NIGHT OF EVERY MONTH STARTING AT 6:30.

KC KINGS SPORTSCARDS 3875 TELEGRAPH RD. SUITE L

VENTURA, 93003  (805-654-0800)

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IT IS HERE; KC KINGS COIN CORNER

A monthly column written by coin expert Bruce Luisi. It will appear right here on the home page of KC Kings web site.

Welcome to the fourth installment of K.C. King's "Coin Corner."   I can't believe how fast the summer blew by.  I hope you enjoyed it in good health.  The seasons seem to change faster and faster every year.

By now most of you have probably seen the new dollar coins.  If you haven't you may want to stop by your bank and ask the teller to show them to you.  Or, next time you go to the post office and want to buy stamps, put a larger bill in the stamp machine like a $5 or a $10 bill and you'll get dollar coins in change.  There may be some of the new presidential dollar coins among the older Sacagawea dollars; that's how I got my first dollars.  Or, go to your local coin shop and see them there.  Anyway, there are three presidents in circulation now.  Can you name them?

Last month we talked a little about investing in rare U.S. coins as part of a diversified investment portfolio.  This month, as promised, we'll look at some ways of acquiring coins (mainly "raw" or uncertified coins) needed for a certain collection you've started or want to start, and what to look for when purchasing them.  Generally speaking, one doesn’t begin collecting "slabbed" or certified coins unless you have big bucks or have inherited a stash of slabbed pieces.  Even then you must decide what direction to take:  are you a collector, or an investor, or possibly both?  I tend to be more a collector than an investor.  Usually an investor has a single goal in mind, profits.  And in order to make a profit one must first buy and then sell at, hopefully, a higher price.  Over the years I've noticed how difficult it is for most active collectors to actually let go of or sell off any of their coins.  There seems to be some kind of attachment to them.  But for investors, it's more a business than a hobby, and the passion of collecting just isn't there.

As I mentioned last month, the most important thing to remember in collecting coins is CONDITION.  Of course with slabbed coins, condition is not an issue because the piece is graded as part of the certification process.  The grade is printed on the label and that’s that.  However, in the case of raw or uncertified coins, condition is most important because the grade of the coin is somewhat subjective.  Someone selling a coin may think it's in better shape than it really is and therefore asks an inflated price which reflects a higher grade.  But in reality, the prospective buyer is the one who determines its value.  Coins are only worth what someone will pay for them.  It is also important to understand that a coin may be correctly graded at a certain level, say "very good" or "fine" as to the wear, but its over all condition may be problematic due to nicks, grooves, pits, rim dings or having been polished.  Coins with any of these marks are referred to as problem coins. These problems of course detract from its appearance, but also its value.  Whenever I'm holding a coin, the first things I look for are problems like the ones I mentioned, and if there are none to speak of, I either confirm or disagree with the grade that someone has assigned to it.  There have been plenty of times I've been looking at a coin that someone has graded "uncirculated" and found definite signs of wear.  The coin may be totally problem free, no marks or scratches, and looks brand new.  But on closer inspection, knowing where to look at the high points of the design with a magnifier, I see signs of wear.  Then I have a choice to make.  I either say, "No, thank you" while handing the piece back to the seller, or if I really want the coin, I begin a dialogue and respectfully disagree with the assigned grade and offer a price at "AU" meaning, almost uncirculated.  But I better know what I’m talking about before I start that conversation.

To assist you in the subjective science of evaluating the condition of a coin, commonly known as grading, I highly recommend another book on the subject,

The Official American Numismatic Association Grading Standards for U.S. Coins, edited by Kenneth Bressett.  Another absolutely essential book for your numismatic library to accompany the "Red Book" we discussed last time.

Now, where do you go to shop for coins?  Well, a coin shop would be an obvious choice.  I would invite anyone to stop by K.C. King's and take a look at the wide selection of truly great bargains you'll find in Bob's display cases.  Another suggestion would be to check out the internet and seek out the nearest coin club in your area.  The people in these clubs are a treasure chest of knowledge and experience.  They can expose you to all sorts of possibilities associated with coin collecting and can be most helpful in directing you to various venues of value, such as bid boards, live auctions and coin shows.  These are great places to shop around for good buys on coins.  I like coin auctions best for adding to my collection.  But I can not emphasize enough how important it is to be prepared by having a good understanding of the coins being offered and their pricing based on condition.  Knowing exactly what to look for during personal inspection, and how much you want to spend or invest, are key factors in any successful auction bid.  Furthermore, the other bidders you'll encounter at the auction are most likely serious collectors or investors and/or dealers.  So, the first time you attend one, I would suggest going with someone (possibly from a coin club) who has experience with coin auctions.  Trust me, you'll get much more out of it and enjoy it more than if you go alone.

Next time we'll talk about coin shops that offer bid boards as an exciting way to acquire coins for your collection, and how to utilize the bid board action to continually upgrade your pieces.  Also, we'll begin talking about what to collect.

If any of you want to talk about coins or ask questions, feel free to contact me at: luisib@yahoo.com  

Stay well….

 ^{Bruce Luisi}