Coin Collector Blog

Mullen Coins Collection Blog provides valuable articles and content about coin collections, rare coins, currency, antiquities and interesting reviews of news and events within the numismatic community.

Find valuable articles and content about rare coins, coin collecting, coin evaluation, and coin prices.

How Much Was a Biblical Talent Worth?

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The Bible contains many mysteries within it, but not all of these were meant to be mysteries. Some are just references to a culture that no longer exists. One of these is found in The Parable of the Ungrateful Servant in the Gospel of Matthew. In this parable a king (or “master”) forgives the debt of a man who owes him ten thousand talents. The reader is meant to understand this is a huge sum of money and the king, who represents God, is very generous. How much money was a talent worth, though? What was a biblical talent? Here we will answer those questions. 

The Parable of the Ungrateful Servant 

For those unfamiliar with this story, the details are these: a servant who owes ten thousand talents to a king is brought before him unable to pay back his debt. He and his whole family are to be sold into slavery to settle what he owes. The man throws himself at the mercy of the king and begs a little more time to pay back the money. The king, in response, shows him pity and tells him the debt is forgiven and he can go. 

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The Walking Liberty Half Dollar, a Beautiful Collectible Coin

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The Walking Liberty half dollar is one of the three most collectible U.S. half dollar coins, with the others being the Kennedy half dollar and the Franklin half. This historic coin is not only very collectible, it’s also a beautiful and beloved American coin. Let’s talk about how the Walking Liberty half dollar came to be and what it’s worth to coin collectors today.

Early 20th Century Coin Revamps

In the early years of the twentieth century, several U.S. presidential administrations were motivated to update the coinage with designs they thought were more beautiful and modern than the Barber coins in circulation. In 1890 Congress had passed legislation regulating the design and issue of new coins, putting a 25-year limit on when the treasury could replace old designs for new. The Barber half dollar and other denominations were introduced to the American public in 1892, so the U.S. Treasury instigated the design process for a new half dollar in January of 1915. 

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The History of Vatican Coins

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For Americans who collect primarily American coins, it can be hard to know where to start with coins from around the world. There are so many beautiful and history rich coins that have been produced over the millennia. Collecting Vatican coins would be a rewarding place to begin. The Vatican has a long and storied history of politics and art. Its mint produces new Vatican City money every year, and those coins tend to increase in popularity and value. 

The Catholic Church dates back to the death of Jesus Christ and the evangelism of his disciples, in particular Peter. In Catholic history, St. Peter is one of the earliest martyrs and saints. Tradition has it that he was crucified upside down in Rome in Nero's amphitheater in 67 A.D. This is the site on which the Vatican stands today. 

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Barber Coins - Affordable and Enjoyable Coin Collecting

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For people who have an interest in coin collecting but don’t know where to begin, one common recommendation everyone gives is to search out Lincoln cents. There are so many different varieties of this coin, and they are everywhere in circulation, so even young children can successfully hunt for them. Barber coins are another wonderful entry-level choice - attractive coins that can be found at mostly affordable prices. There are enough Barber coins available that a collector can build a year set without breaking the bank. Halves are readily obtainable, quarters have three challenging years, and dimes have the mammoth rarity being 1894 S. Given some very low mintages compared to Walking Liberty halves, Standing Liberty quarters, Mercury dimes, and Washington quarters there is upside potential. The Walking Liberty half dollars series has a mere 9 coins with mintages under one million compared to 20 for the barber half series. Considering the extra years in circulation, this makes higher grade circulated coins a fun challenge.

What Are Barber Coins? 

U.S. Mint engraver Charles E. Barber designed these coins, and they get their name from him. Specifically, Barber coins are dime, quarter, and half dollar denomination coins that were minted between 1892 and 1916. Barber dimes, quarters, and half dollars all have the same design on the obverse of the coin, so size is the best way to tell them apart, along with the different details on their reverse sides. 

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How Did the "In God We Trust" Coin Motto Originate?

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Americans are very familiar with coins and currency that display the motto, “In God We Trust.” It’s our nation’s motto, so it only makes sense that it would appear on our money. This was not always the case, however. Why was the motto added to our coinage and when?

Civil War Upheaval 

The first coin to display the “In God We Trust” motto was the 1864 two-cent coin. Given the timing, you can imagine the impetus for the change. Shaken by the worst war that Americans had ever experienced and great casualties for both the North and the South, many people were looking for reassurance that all would be fine and that God had not abandoned them during this terrible ordeal. In 1861, the Secretary of the Treasury, Salmon P. Chase, received the first request for an acknowledgement of God on the national coinage. Rev. M.R. Watkinson wrote to him with a design for a coin in mind involving a ring inscribed with the words PERPETUAL UNION, the all-seeing eye crowned with a halo, the American flag with all the stars of the once again United States, and the words GOD, LIBERTY, and LAW. 

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What Are Doubled Die Coins?

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Coin errors that occur during minting have often created coins that are in demand by collectors. There are many different types of coin errors. In our last blog we discussed off-metal coins. In this blog we will talk about doubled die coins - what they look like, how they are made, and which are especially collectible. 

Doubled Die Coins

Doubled die (not “double die”) is a numismatic term referring to doubling or repeating in the design elements of the die which creates the coins. As the term suggests, it is the die that is doubled and then used to create thousands of coins. 

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What Are Off-Metal Coins?

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In an earlier blog we discussed coin errors, how they occur, and what makes them special. In this piece we will talk about off-metal coins, another kind of rare coin that can occur accidentally as the result of error. Finding off-metal coins can be exciting for coin collectors, and many will search them out as part of the treasure hunt that is coin collecting.

What Are Off-Metal Coins?

Off-metal coins are coins that are struck using a different metal alloy planchet than the one that is typically used. This usually happens accidentally as in the case of the 1943 Copper Cent. The typical metal for the Lincoln cent that year was zinc-coated steel. In 1943, the U.S. government had substituted zinc-coated steel for copper to mint cents because copper had been allocated for other war purposes. There were, however, about 40 copper Lincoln cents struck, likely on planchets left over from 1942.

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What To Do with Inherited Coins

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You’ve inherited coins from a friend or relative or been gifted a coin collection. What will you do with it? That’s a very good question. We’ve talked before about whether coin collectors should leave their collections to their heirs, but if you have inherited coins and don’t know their value, it’s challenging to know what to do with them. In this blog we will go through your options. 

Determining coin value takes both familiarity with coins and knowledge of the market. It’s not something that anyone learns overnight. So if you have been given coins and don’t know their value, don’t feel overwhelmed. The good news is that even if you have no idea about the worth of your coins, it is unlikely to change very rapidly so you have time to decide what to do while you educate yourself. 

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Franklin Roosevelt and the Roosevelt Dime

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You have probably heard of the March of Dimes, but the origins of that organization have faded from the public’s memory. One ever present reminder is found on the Roosevelt dime - the  ubiquitous coin you use everyday to pay for small items or make change. President Franklin Roosevelt, the March of Dimes, and the change in your pocket are all connected, and in this blog we will explain how.

Franklin Delano Roosevelt had an enormous impact on the history of the United States. He was the 32nd President of the United States, and he won four national elections - more than any other president. His presidency lasted from the early days of the Great Depression until the final days of World War II. He was loved (and hated) by Americans and citizens of many other countries.

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Coin Myth #1: Old Coins Are The Most Valuable

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People who are new to coin collecting may assume that because many of the coins in numismatists’ collections are old that age is what makes them valuable. This is not true at all. Here we will talk about this myth about old coins and what does affect the value of coins, old or new.

Old Coins Aren’t Valuable because They Are Old

Ultimately, supply and demand determine the value of a coin just as they determine the value of everything else in a free economy. Coin dealers consider a number of factors when they value coins, including availability, metal content, condition, and the current popularity of specific coins. However, if there is no great demand among coin collectors for a certain coin, its value is going to be low. You can have an incredibly rare item, but if no one wants it, it’s not worth anything.

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The Rare, New 2019-W America the Beautiful Quarter Dollars

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This April the United States Mint announced that the West Point Mint was striking 2019-W America the Beautiful quarter dollars for general circulation. These 2019-W quarters will be added to commerce in select cities in 29 states throughout the year. The mint is releasing them into circulation as a bid to spur interest in numismatics among the general population. Coin collectors are already searching for and finding W mint mark quarters of the first two designs. The hunt for these coins is on.

The 2019-W America the Beautiful Quarter Dollars

The U.S. Mint has been issuing America the Beautiful quarters since 2010 at a rate of 5 per year. The coins depict national parks and other national sites. The five designs for the 2019 America the Beautiful quarters are:

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The History and Value of the Kennedy Half Dollar

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The Kennedy half dollar is a very popular collectible coin that has both sentimental value for many Americans as well as numismatic value for coin collectors. Why is this coin worth seeking out? Which ones are the most valuable? We will answer those questions here.

 

The History of the Kennedy Half Dollar

When John F. Kennedy was elected President of the United States in 1960, he was the youngest man to ever hold that office, and many saw in him hope for the future of the country. The war years were over, the economy was booming, and the future seemed bright. When Kennedy was assassinated in Dallas, Texas on November 22, 1963, the nation was shocked and mourned him deeply. It was a pivotal moment in our nation’s history. Generations of people still can say where they were when they heard Kennedy was shot. An outpouring of grief resulted from this tragedy. One tangible symbol of that grief was the Kennedy half dollar.

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Are You Thinking of Buying Silver?

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Previously we’ve talked about the reasons for investing in bullion. In this blog we’ll discuss the advantages of silver and why buying silver in bullion or coins might be a good addition to your overall investment portfolio.

 

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Cleaning Coins Decreases Their Value

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You may have seen this piece of advice on Mullen Coins’ Evaluations page:

The single biggest mistake you can make as a collector: Cleaning your coins. Your collection will likely be worth much less if the coins have been cleaned! An uncirculated coin that has been cleaned is not longer an uncirculated coin! Please do not clean them! The occasional exception to this rule would be a rare coin in heavily circulated condition that has dirt of PVC... in that case professional restoration might be an option.

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The U.S. Mint's First Pink Coin

pink-coin Breast Cancer Awareness 2018 Proof $5 Gold Coin

The United States Mint unveiled its first “pink coin” in October of 2017. This coin, designed by Emily Damstra of the Artistic Infusion Program, is intended to raise awareness of breast cancer as well as funds for the Breast Cancer Awareness Foundation’s research programs. This is an interesting case for how activism and coin collecting intersect. Sales of the coin began in mid-March, and so far seem successful.

The Breast Cancer Awareness 2018 Proof $5 Gold Coin is the first pink gold coin that the U.S. Mint has ever produced. It is 85% gold, 14.8% copper, and 0.2% zinc and features a design of two women, breast cancer patients past and present, and a butterfly on the obverse. In the upper background of the obverse is a ribbon which references the pink ribbon the public has come to associate with the battle against breast cancer. A tiger swallowtail butterfly flies above the women and under the word “LIBERTY.” The butterfly is also the focus of the reverse.

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Giving the Gift of Coins

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This time of year the news is always full of stories of people being generous to others, and invariably there will be a report of a valuable coin being dropped into a Salvation Army kettle. On December 15, in fact, someone donated a gold 1979 Krugerrand coin in this way in Reno, Nevada. Even more interesting was the report that an anonymous donor was giving $86 million dollars worth of Bitcoin to charitable causes. This is a new twist on an old story!

For the coin enthusiast, the holidays are always a good time to spread numismatic cheer. In fact, it’s tradition. The wise men brought the infant Jesus gold, frankincense, and myrrh, after all, and, according to legend, St. Nicholas gifted bags of silver coins to the girls of a noble family that could not afford their dowries. This is what began the habit of hanging out stocking for St. Nicholas to fill. Most parents do not fill Christmas stockings with coins, but why not? It’s hard to find good stocking stuffers.

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Should You Leave Your Coin Collection to Your Heirs?

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Last time we discussed some of the practical considerations coin collectors need to keep in mind if they intend to leave their collections to their heirs. This time we’ll talk about whether you should leave all or part of your collection to your loved ones. What are some reasons you might choose to gift or sell it beforehand instead of leaving it to friends or relatives in your will?

Families are complicated, and, sadly, money can cause problems in families. These problems can persist for years after an estate has been transferred. The question of fairness in terms of who gets what and who might deserve it more often comes up in these situations, even when people explain their wishes in person to everyone. If you think there’s a possibility that your heirs will fight over your collection or that hard feelings will arise between them because of it, it might be better to sell the collection ahead of time and leave cash amounts behind in your will. While it’s very satisfying to leave a collection to someone who will value and cherish it, weigh that against any damage that might be done to relationships because someone feels slighted or overlooked.

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Will Your Coin Collection Be an Inheritance?

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Coin collecting, like golf, is a hobby people can and do enjoy over a lifetime and one that can grow more enjoyable and satisfying with age (and additional resources). At Mullen Coins we see many older clients, and some of them are at the point in their lives when they are trying to decide what they will do with their collections due to downsizing, investment liquidation, or when making a will. No one enjoys thinking about death, but for many collectors, their coins are personally very meaningful, and so it’s appropriate that they are afforded this consideration.

The first thing that all coin collectors need to decide is if they want to sell all or part of their collections or if they want to transfer them to their heirs. This may be a complex decision if the collection is quite valuable, if there are multiple heirs, or if one or more of the heirs has an interest in coins. For people who are worried about arguments breaking out among family or friends later, selling a collection and dividing the money between heirs is one way to bypass that problem.

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What Happened to the Half Dime?

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Did you know that 5-cent pieces haven’t always been called nickels? During George Washington’s presidency, the half-dime was first produced as part of the American money experiment that replaced the pounds-and-shillings monetary system of Great Britain. In 1792 the Coinage Act introduced the U.S. dollar to the world. One silver dollar was worth 10 dismes or 100 cents. The dismes became known as dimes, and half dimes were also struck and became a commonly used piece of American coinage for many years.

We don’t know much about the first half dismes. Legend has it that Martha Washington may have served as the model for the Lady Liberty portrait on its obverse side. George Washington himself may have supplied some of the silver for its first minting. The U.S. Mint in Philadelphia wasn’t even fully constructed at this point, and the half disme was the first American coin struck. Legend says this happened in the cellar of John Harper’s saw-maker shop.

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States with Sales-Tax Exemptions on Precious Metals and Bullion

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Late last month when Minnesota governor signed H1A into law, it was great news for Minnesotans who want to invest in bullion. This is because the bill contained a sales-tax exemption on precious-metals bullion, ushering Minnesota into a group of 35 states that have a full or partial sales and use tax exemption on precious-metals bullion and coins.  

While it may seem against Minnesota’s best interest to collect less in revenues from businesses selling bullion, studies done in other states show that the sales tax revenues from other sources are increased by these kinds of exemptions. Because some states do not charge sales tax, buyers from other states will purchase bullion or collectible coins in those states rather than pay taxes in their own state. This is terrible for local coin dealers in states that border states with exemptions, as was previously the case with Minnesota. The competitive disadvantage for them translates into fewer sales, fewer employees, and less money in payroll and income taxes collected.

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