Allen G. Berman - U.S. Coins & Currency, Warmans Companion

U.S. COINS

& CURRENCY

2nd Edition

Allen G. Berman

2009 Krause Publications, Inc.,
a subsidiary of F+W Media, Inc.

All rights reserved. No portion of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from the publisher, except by a reviewer who may quote brief passages in a critical article or review to be printed in a magazine or newspaper, or electronically transmitted on radio, television, or the Internet.

Published by

Our toll-free number to place an order or obtain
a free catalog is (800) 258-0929.

Library of Congress Control Number: 2008937689
eBook ISBN: 978-1-44021-930-6
ISBN-10: 0-89689-842-3

Designed by Heidi Bittner-Zastrow
Edited by Justin Moen

Printed in China

Dedication

Dedicated to the millions of private collectors, who, over the centuries, have filled our museums and deciphered our history, all for the love of knowledge.

Acknowledgments

Special thanks to the following for providing the spectacular color photography that made this book possible:

Coins

Heritage Numismatic Auctions, Inc.
3500 Maple Ave., 17th Floor
Dallas, TX 75219-3941
214-528-3500
800-US COINS (872-6467)
Bid@HeritageCoins.com
View full-color images at coins.ha.com

Paper Money

Chester L. Krause

Warmans Identification and Price Guides

Warmans American & European Art Pottery

Warmans Antiques & Collectibles Annual Price Guide

Warmans Carnival Glass

Warmans Childrens Books

Warmans Civil War Collectibles

Warmans Civil War Weapons

Warmans Coca-Cola Collectibles

Warmans Coins and Paper Money

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Warmans Dolls: Antique to Modern

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Warmans Flea Market Price Guide

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Warmans Companions

Carnival Glass Warmans Companion

Collectible Dolls Warmans Companion

Collectible Fishing Lures Warmans Companion

Depression Glass Warmans Companion

Fenton Glass Warmans Companion

Fiesta Warmans Companion

Hallmark Keepsake Ornaments Warmans Companion

Hot Wheels Warmans Companion

McCoy Pottery Warmans Companion

PEZ Warmans Companion

Roseville Pottery Warmans Companion

Watches Warmans Companion

World Coins & Currency Warmans Companion

Warmans Field Guides

Warmans Action Figures Field Guide

Warmans Antique Jewelry Field Guide

Warmans Barbie Doll Field Guide

Warmans Bean Plush Field Guide

Warmans Bottles Field Guide

Warmans Buttons Field Guide

Warmans Coca-Cola Field Guide

Warmans Depression Glass Field Guide

Warmans Disney Collectibles Field Guide

Warmans Dolls Field Guide

Warmans Farm Toys Field Guide

Warmans Field Guide to Precious Moments

Warmans Fishing Lures Field Guide

Warmans G.I. Joe Field Guide

Warmans Hot Wheels Field Guide

Warmans Kitschy Kitchen Collectibles Field Guide

Warmans Lionel Train Field Guide 1945-1969

Warmans Lunch Boxes Field Guide

Warmans Matchbox Field Guide

Warmans Pepsi Field Guide

Warmans Star Wars Field Guide

Warmans Tools Field Guide

Warmans Transformers Field Guide

Warmans U.S. Coins & Currency Field Guide

Warman U.S. Stamps Field Guide

Warmans Vintage Guitars Field Guide

Warmans Watches Field Guide

Warmans Zippo Lighters Field Guide

Contents

Half Cents

Lincoln Cents

Two-Cent Pieces

Nickel Three-Cent Pieces

Jefferson Nickels

Roosevelt Dimes

Twenty-Cent Pieces

State Quarters

Kennedy Half Dollars

PAPER MONEY LISTINGS

This book is not intended to be a comprehensive resource about coins and paper money. In fact, a full library is necessary to answer every question regarding this subject. Rather, it is intended to fill a much needed nichea very basic introduction in which a reader can get a quick overview of the hobby, and get a general feel for the background, characteristics and values of each of the common categories presented.

Because this book is only an introduction to the subject, only brief information is given on early coins and paper money, and photos and listings focus on items from the early 1800s and later, which are the items most likely to be encountered today.

Coin and currency prices can be as volatile as the stock market. While some coins and bills remain stable for years, others skyrocket during a period of popularity and then plummet when they fall out of fashion. The listings presented here simply give an idea of the normal retail value at the time of writing. Because the law of supply and demand ultimately rules, the final decision about the value of a coin lies with the buyer and seller.

Dealers are in business to make a living. This means they must pay less than the retail cost listed in this book when they are buying. Depending on the value and demand, a dealer will pay between 10 and 90 percent of the retail value of coins or currency listed in this reference.

Finally, the grades chosen to represent average prices are those most likely found in the market or the ones most likely to be sought by the average collector.

Coins and paper money are not shown to scale in this book. Most coins have been enlarged to show more detail, and all paper money has been reduced to fit the pages. Thus, do not rely on the size of the photos for identification, but rather the information stamped or printed on the coins or bills, and the captions and listings accompanying them.

In marked contrast to the general economy, the coin market over the past year has been to quite strong, continuing a trend established over the previous three years. Both U.S. and world coin dealers are reporting demand as being anywhere from healthy to robust. This does not however mean that the present market is performing according to traditional expectations.

The most glaring anomaly is the growing disconnect between the spot price and the gold and silver markets for actual physical delivery. Spot price is the value typically quoted by the media and technically reflects the value of a contract for a fixed number of ounces tradable on the commodity exchange.

No physical object such as a coin or ingot is actually handed from a seller to a buyer. In a normal market the price a dealer would pay for an actual bullion coin, an ounce of gold for example, is based on the spot price plus or minus a minimal commission of two or three percent. A dealers selling price would be perhaps three to six percent over that.