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Butternut
Bite #2: Building a Library
The
old saying, “Buy the book, before you buy the coin”,
is a lesson in which most collectors and hobbyists wish
they had heeded.
My
Webster dictionary defines numismatics as; “The study
and collections of coins and medals.”
In order for collectors to understand and
appreciate a coin or currency, they must at least know
what it is. The
public library and Internet offer excellent information,
however, you are going to want your own books, articles,
and notes for reference in order to study a coin. With
that reasoning, here is Six Basic resources materials a
collector should possess:
1.
A
Guide Book of United States Coins by R. S. Yeoman.
The “Red Book” has become the standard.
The 1998 book is the 51st edition and
the cost is under $10.
It is a wealth of knowledge, and within its pages
a novice can become proficient in many, many areas of
numismatics. Some
areas such as colonials, it is the best source for
information. A collector should buy a new one each year, and be sure to
retain the previous year, as they too become
collectable. In fact, a first edition now sells for over
$300. It is not the best source for prices, as they tend
to outdated before the book is printed.
To compensate, the editors tend to inflate the
prices, only to be undervalued be year-end.
2.
Photograde
by James F. Ruddy. This book makes it easy for anyone to
get a general idea as to what grade a coin is.
It does not necessarily help with the condition
of a coin, but it does help with a sharpness grade as to
the wear of a coin. The book is designed so that you
simply place a coin near the type and grade photograph
that most closely resembles your coin. Then read the
short narrative (also found in the “Red Book”) to
insure the match. It
is that simple. It
will not make you an expert grader, but it will give you
at least a general idea as to the grade of a coin.
3.
Official
A.N.A. Grading Standards for United States Coins
by Ken Bressett and A. Kosoff. This book will give the
collector a closer standard for grading a coin than does
Photograde.
The book uses detailed drawings and descriptions
that show the progression of wear. It lists every US
coin form 1793 to present.
This book is an indispensable aid to grading a
coin.
4.
Numismatic
News & Coin World Newspapers. We are fortunate in
numismatics to have two fine newspapers in which to
subscribe to. Both papers are excellent.
From my opinion, Numismatic News, has more
articles about series and types of coins and currency,
where Coin World offers more articles on current
events and prices of coins.
Coin World’s Price “Trends” is the
guide most dealers use to price their average coins.
Either or both would give the collector articles
concerning his/her interest in collecting.
The key is to organize the article in a file for
your future reference.
They are inexpensive and I would recommend
subscribing to one or both.
5.
The
Numismatist
the official publication of the American Numismatic
Association (ANA). Founded in 1891, and over 27,000
members, the ANA’s The Numismatist is published
each month and cost $5, but is sent free to it’s
members. Every issue has great articles and reference
materials for collectors. Most collectors save them sort of like National Geographic.
ANA also puts out an index every 10years to look
up specifics. If you are not a member of ANA, you should
be.
6.
Specific
Coin Type Books.
Once you have identified a type or series of coin
which interests you, buy the current book pertaining to
the subject. As
an example, if large cents are your interest, then United
States Large Cents 1793-1814
by William C. Noyes,
The Cent Book 1816-1839 by John D. Wright,
and Attribution Guide for United States Large Cents
1840-1857 by J. R. Grellman are three essential
references. It
does not matter what you collect, there have been books
written on it. Be sure to consider earlier works, since
they too are a treasure of information.
Your
thoughts and ideas are always welcomed.
Address them to: Colonel Steven Ellsworth, c/o BUTTERNUT,
Post Office Box 498, Clifton, VIRGINIA 20124 Phone: 703.802-0252
E-mail:
butternut@butternut.com. Web site: www.Butternut.org.
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