World Coin questions

TeacherShell

1. When a coin has a hole in it (was meant to have it), does that make it have a greater value?

2. Are coins from the Middle East worth more now? They used to not even be worth the amount on them.

3. If you have coins that have got "funk" on them and you can't really see the coin, should you just go ahead and clean them?

4. Is there a new book out on priceing world coins? If so, could someone pm me the name of the book and the author.

Thanks.

1jester

Hi!

1. Not necessarily
2. I don't know; I suppose it really depends on normal supply and demand factors. Others have posted on this subject before, so it might help to try to sort through some of the threads.
3. In general, a good principle to follow for Darkside coins as well as any other type of coin is to never clean them. However, with experience, some exceptions might be in order. And we must be clear on the meaning of "cleaning". I'd never clean any coin abrasively (using mechanical means. Sometimes a chemical soap cleaner such as MS-70 might be in order if the coin is otherwise ruined). I never use dips for any reason. And sometimes we encounter coins in PVC flips, and in this case I always recommend a bath in acetone, or xylene, as soon as possible to remove the harmful contamination. Acetone doesn't hurt coins. Be careful and read up on this topic before trying to apply it. Another method of "cleaning" coins can be gently washing it with water, to loosen encrusted dirt (for example, from a metal detecting find). And soaking a coin in olive oil for extended periods has its following too, for certain types of "funk" on a coin.
4. Try the "Bible" of world coins, "The Standard Book of Coin Values" by Krause. There are at least 4 volumes, one for each century. It's a basic step, and you can find them in your local library too.

You're welcome.

spoon

Welcome to this side of collecting!

Answers to your questions (I'm sure others will chime in too, these are quick and short answers!):

1. If a coin is supposed to have a hole, then there is no inherent value added because of it. Now, if it is supposed to have a hole but does not, then it would be worth more than usual. But if it is not supposed to have a hole but does have one, then it is usually loses some value (because someone defaced it with a hole!).

2. Depends on what area and what time period. Modern Iraqi coins (and banknotes) didn't go up in value despite some less scrupulous sellers pushing up the price. And most modern coins from the Mid East are still worth dirt on the street and little more to collectors. That said there are some modern coins that are valuable and there are some areas that have been going up lately, mostly your older stuff; Ottoman, etc. To tell the difference, though, you really need to watch the stuff as it sells (ebay, auctions, etc) and browse your book--jump to 4

3. Again, it depends. Some gunk is just there to stay. Some gunk isn't too bad and is tolerable, that or the coin is too valuable to risk damaging by cleaning. So, the rule is never clean your coins unless absolutely necessary. Cleaning them the wrong way can destroy them--or, in the best case, make them unappealing to collectors and hard to resell. There are two main kinds of gunk, each with a way to clean it. If it has a light green coating or spots, you likely have PVC damage (from improper storage sometime in the past). To clean it, dip it in acetone for a few seconds. The other type is that thick stuff that gets encrusted on over the years. Usually soaking it in olive oil for a few weeks will dissolve it away.
These are just the quick answers. We've discussed this topic a lot here and even have a few how-tos. So do a search of the forum for "acetone" or "olive oil" and you'll find the detailed answers.

4. The main book for pricing world coins is the Standard Catalog of World Coins, or Krause for short (the publisher). It comes in a separate edition for each century back to 1600. The 20th century edition is updated every year, but you can get one a year or two old for a lot cheaper. Or check your library for a copy. This book has (almost!) every coin in the world and is the best place to start unless you're focusing on a specific area. In that case there are dozens of books for every interest!

cladking

Most modern world coins have been doing extremely well but most of the
Middle eastern ones are exceptions. Some of these are quite rare but there
are very few collectors for them. The modern markets seem a little more
dependent on the domestic markets than the older coins and most of these
countries suffer conditions which aren't favorable to stability or coin collecting.

wybrit

Hello and welcome!

(1) In general, no. Coin value depends on condition, rarity and the demand for that particular coin.
(2) The same applies here - condition, rarity and demand. Some middle eastern coins are quite valuable, but as cladking pointed out, there are few collectors for them.
(3) My take on cleaning is don't - there is a much higher probability of damaging a coin from cleaning it than the good it may do. Cleaning leads to hairlines or worse. If the coin isn't worth much, then the advice given by my board colleagues is sound. I will use acetone to remove organics, because that is a solvent as opposed to a reactant. I avoid dips completely.
(4) Great advice on this already. 1jester is right - check out your local library. The book is spendy, so the "try it before you buy it" plan is a good one.

laurentyvan

Excellent advice from all of the above-but,

t's always fun to take a 50 cent or one to two dollar coin that needs cleaning and give it that cleaning and examine the result and realize that usually the original was better. Plenty of room for exceptions here...

TeacherShell

Thanks for all the help! I do know that some of the coins have PVC damage. This is an older collection that was left to me by my grandfather. I guess I was always a part of the "darkside" since world coins always appealed to me more than US coins.

In the collection there are several albums filled with a multitude of coins...these are all pre-1972's...I'm using that date because he started setting it aside for me when I was born. I'll have to look through them one of these weekends and post some of the finds.

Thanks again for the help.