Tag: coins

Selling Coins Header smaller

Ranking of The Best Places to Sell Your Coins, Silver, and Gold

Selling coins can be difficult and tedious. After sorting through your coins and deciding which to sell there is the daunting task of deciding how to sell.

This is a ranking I would recommend, but it may depend on your circumstances and what you plan to sell. In this article I will refer mostly to ‘coins’ but I think this ranking works well for gold and silver bullion as well.

1.) A trusted coin dealer

There is a reason I differentiate between a coin dealer and a trusted coin dealer. A coin dealer is someone who makes money by buying and selling coins. They may have a brick and mortar shop, an online store, or work by word of mouth.

A trusted coin dealer is someone you know and have done business with before. You trust that they have your best interest at heart as well as their own. They can help you find deals you wouldn’t otherwise be able to get.

Even if a coin dealer can’t get you the top price for a specific purchase or sale, it may be worth it to do business with them to build rapport in hopes of better future deals. They may also alert you if a coin comes in that you are looking for.

If you have inherited a collection and do not know the value of your coins, definitely go to a coin store if you do not want to learn how to value coins yourself. There are many tiny details that can make a coin more or less valuable. If you try to sell the coins yourself online you will not know how to describe the coins in the best way to sell them.

2.) Ebay

Ebay has been my go-to for selling coins. The benefit of eBay is that there is the potential of your coin being seen by millions of people.

Auctions can drive the price of the coin up to well beyond what you thought it was worth. The problem with selling on eBay, is that you are dependent on eBay algorithms for who your post gets shown to.

You can get around this by adding descriptive keywords into your eBay post, but even that may not be enough. I have sold coins on eBay that sold for less than they were worth simply due to eBay not showing my listing to enough people.

If you plan to sell on eBay, do not start by selling valuable coins immediately. Buyers are very suspicious of buying fakes from online dealers with few reviews. Start by selling other items or low-valued coins. Watch out for eBay fees and shipping costs as they can eat into your profit!

3.) A coin dealer

Not everyone has a local coin dealer they see regularly. It is no surprise given the ease of shopping online. It is worth going into your local dealer and asking what they would offer you for your coins.

Even if you don’t think they are giving you the best deal it may be worth it to sell to them to build rapport, or avoid the hassle of selling yourself. Many people looking to sell online forget the added cost of shipping.

Some online dealers will pay your shipping costs. If you want to know more about buying and selling from large online distributors, Money Metals Exchange has a good article on it here: “Selling Gold, Silver, Platinum & Palladium to Money Metals Exchange”

If you haven’t been to a coin store much and have some anxiety about what to expect, check out “What to Know Your First Time in a Coin Store”.

4.) Reddit

Reddit has a great community of coin collectors, coin dealers, and precious metal enthusiasts. There is a dedicated subreddit called r/PMsforsale where redditors sell precious metals and r/Coins4Sale where redditors sell coins.

I have used reddit to buy coins and have a lot of trust in many of the sellers on Reddit. Here are things to be aware of if you are selling coins on Reddit.

  • Age of your account
    • Currently, neither sub has explicit rules on how old an account must be, but Redditors are less likely to trust new accounts.
  • Trustworthiness of the buyer
    • People aren’t scammed on these subs often, but it has happened. Some Redditors do not pay, or request a refund after the items are received. All of the responsibility is on the buyer and seller to complete a transaction.
  • Shipping Cost
    • You should discuss the cost of the item and shipping before you sell someone your coins or precious metals. Make sure you have an idea before you post on the maximum shipping could cost you and how much you are willing to spend.

5.) Pawn Shops

A pawn shop is my least-preferred place to sell coins. Most pawn shops know a little about coins, but not often enough to give detailed prices. Usually, pawn shops are looking to turn a profit on items as fast as possible, so a pawn shop will rarely offer above the spot price for precious metals and coins.

This isn’t true for all pawn shops however, and it may be worth it to go in and ask what they would offer you for coins or precious metals. The benefit of a pawn shop is that they are easy to find, have lots of connections, and will give you a price quickly.

What is your preferred way to sell coins, silver, gold, and copper? Vote in our poll and share a comment below!

CoreenLeave a comment
Coin Phrases and MEanings Header image Morgan Dollar Idiom

Coin Phrases and Their Meanings

For centuries people have used coins every day. It is not surprising that many coin related phrases and idioms have made it into everyday speech.

Here’s a list of the most common phrases and their meanings. If I forgot any, add a comment below or reach out to me on my Contact Page!

“Nickel and dime”

Meaning: When a person or entity is trying to get all the money they can from a transaction. Often used when something feels expensive, especially when people have no choice but to pay.

Example: If someone is charging a lot for an item you might say “They are nickel and dime-ing me.”

“Squeeze a nickel“

Meaning: Refers to someone holding tightly onto all their coins. Meant to imply that someone is cheap or not willing to spend money.

Example: “My mom only buys thrift store clothes; she sure knows how to squeeze a nickel.”

Similar To: Penny Pinching

“Penny pincher”/”Penny pinching”

Meaning: Someone who holds tightly onto every penny. It is used when someone is being cheap or unwilling to spend money. It is often a criticism.

Example: “Harold’s penny pinching ways paid off when he could finally afford a trip to Disneyland.”

Similar To: Squeeze a nickel

“A penny saved is a penny earned”

Meaning: Saving money is as important as earning money in keeping wealth. This is often used as advice for people who are overspending.

Example: If your friend was working extra shifts to make ends meet, but often spent money eating out you could tell them, “a penny saved is a penny earned.”

“Accept a wooden nickel”

Meaning: This refers to someone being conned. A ‘wooden nickel’ refers to a fake coin. If you accept wooden nickels it means you are easily fooled.

Example: If you lend a friend money and they always promise to, but never pay you back, then you are accepting wooden nickels.

“Chasing nickels around dollar bills”

Meaning: Used when someone is focusing on saving small amounts of money. Oftentimes, it is used when someone is spending money on a big purchase, but frets about smaller expenses.

Example: If your friend buys an expensive dinner, then complains about the cost of a soda at the restaurant, you can say they are chasing nickels around bills.

“Coin a phrase”

Meaning: Honestly, I always thought this was ‘coin OF phrase’. ‘Coin a phrase’ means to invent a new saying or expression. The phrase is usually used sarcastically, when someone is using a very common phrase.

Example: “That test was, to coin a phrase, a piece of cake.”

“Cost a pretty penny”

Meaning: Means that something is expensive.

Example: “By the glittering of the rhinestones, Paige knew Claire must have spent a pretty penny on the dress.”

“Earn an honest penny”

Meaning: When someone earns money in a legitimate way through hard work.

Example: John earned an honest penny by providing medical care to all the elderly residents of the town.

“Heads or tails”

Meaning: Refers to a coin flip.

Example: If you want to challenge someone to make a bet or pick a side you might say “Heads or Tails?”

“Can’t make heads or tails”

Meaning: Refers to someone who can’t understand or figure out something.

Example: “Rhonda couldn’t make heads or tails of the legal jargon on her rent agreement.”

“In for a penny in for a pound”

Meaning: Means that someone can’t be in halfway. Often used to signify someone’s intent to complete something no matter the barrier. (A pound is comparable to a dollar in the US.)

Example: “Although James had already sunk hundreds of dollars into the business, if he was in for a penny he was in for a pound.”

“Penny for your thoughts”

Meaning: Used to say that you will listen to how someone is feeling. Used instead of asking directly how they are feeling.

Example: “You look troubled. Penny for your thoughts?”

“Penny wise, pound foolish”

Meaning: Used to describe someone who is frugal on small purchases, but spends lots on big purchases.

Example: If you buy cheap toilet paper, but drive an expensive sports car, then I would call you ‘penny wise but pound foolish.’ (But I’m not a car person.)

Similar To: “Chasing nickels around dollar bills”

“See a penny, pick it up all day long you’ll have good luck”

Meaning: From an old rhyme promoting the good luck that comes from picking up pennies.

Example: Often chanted when seeing a penny on the ground.

“Take care of the pence and the pounds will take care of themselves”

Meaning: This means that someone who gets good at managing small financial transactions will become more financially stable.

Example: If you are saving for a cruise, I may advise looking at your everyday expenses by saying, “Take care of the pence and the pounds will take care of themselves.”

(Great advice for someone who is penny wise and pound foolish lol.)

“That and a nickel will… get you a ride on the subway”

Meaning: This phrase is used to call someone’s idea worthless. Most commonly people just shorten the phrase to “that and a nickel.” The idea is that this phrase was invented when a subway ride was actually a nickel. 0 + .05 = .05

Example: “Shannon told me about her new aromatherapy business, I told her, ‘that and a nickel will get you a ride on the subway.'”

“The other side of the coin”

Meaning: Means to look at the other side of things.

Example: “When I complained about how long it took to get my latte this morning, my mom told me to look at the other side of the coin and see how busy the employees were.”

“Pay someone back in their own coin”

Meaning: Seeking revenge by treating someone the same way they treat you.

Example: “When my step mother stopped inviting me to family events, I decided to pay her back in her own coin and didn’t invite her to the baby shower.

Can you think of any other coin idioms and phrases? If you have a better example or definition, share it in the comments below!

Coreen2 Comments

How to Use A CoinStar to Find Rare Coins

Most people know Coinstar machines as places to exchange coins for cash, but did you also know that Coinstars are a great way to find valuable coins?

Coinstar machines work by weighing coins and checking their magnetism. If a coin is outside the parameters of most US coins, the Coinstar will reject it. Since silver coins (mostly dimes quarters and half dollars minted before 1965) are heavier than modern coins, the Coinstar will not accept them.

A Coinstar Kiosk

Most people who exchange coins at a Coinstar do not realize that their coins that are rejected may not be accepted because they are silver! Some people take the rejected coins back, but many people leave the coins in the reject tray or on the countertop of the Coinstar.

Getting into the habit of checking the Coinstar reject tray every-time you go to the store can be very profitable. It takes seconds to do and you can find silver, tokens, and foreign coins.

Where do I check a Coinstar for silver?

Here is the handy Coinstar coin-finders guide for all the coin hunters out there:

Coinstar Labeled Coin hunting finding silver guide reject tray
Coinstar Guide Labeled

I recommended looking first in the reject tray. Check with your eyes quickly, then reach your hand along the bottom of the reject tray to feel around for any coins. It doesn’t take more than a second to do.

How often do you find rejected coins at a Coinstar?

This will really depend on the area you live in. I have some Coinstars where I will find rejected coins about 1 in 5 times I check, and others that are closer to 1 in 10.

The best Coinstar’s to use will be ones at busy places, the more often the Coinstar is used, the more likely you will find something good!

Buy Gold and Silver



Are all Coinstar rejects valuable?

Not all Coinstar rejects are valuable. Coins can be rejected for being dirty, damaged, or just due to a machine error.

Along with coins, I have also found lint, plastic, and nails in the Coinstar reject tray.

Does this only work for Coinstar brand coin counting machines?

No! You can find rejected coins in any brand of coin counter.

I simply refer only to Coinstar machines as it is the most popular coin counter. You can also find counter counters at some banks and credit unions. (And some coin counters at banks don’t charge a fee!)

What is the most valuable thing ever found in a Coinstar?

One of my friends told me that his brother once found a gold sovereign in a Coinstar! His brother sold the gold to a pawn shop, then went to buy an Xbox.

There is always a small chance you can find something amazing in a Coinstar, so it is always worth it to check.

What are the most common coins or tokens to find in a Coinstar reject tray?

Without a doubt the most common coin to find in a Coinstar is this prayer token pictured below!

Prayer Token Angel Golden
Prayer Token

I have probably found about 5 of these prayer tokens while searching the Coinstar reject tray over the last couple of years!

Is it legal to take coins from the Coinstar?

I’m not sure if a store could make a case that they own the coins once they have gone through the machine, but I have never been asked to not check the machine. Plus, it would be hard to prove they are not your coins.

It only takes a few seconds to look for rejected coins, so I doubt most employees even know what I am doing when I go over to the Coinstar.

Where can I show off my finds?

There is a great Reddit community on the sub r/CoinstarFinds where you can post images of coins, tokens, and random objects found at the Coinstar.

You can also share your photos on my Contact Page or on the American Coin Stash Facebook page!

Share a comment below on your best finds and vote in our poll!

Coreen6 Comments
Coin Collecting Mistakes Smaller White Out Avoid

Top 6 Coin Collecting Mistakes to Avoid

Coin collecting should be fun, and as long as you are having fun there are no real mistakes. That being said, there are ways to make coin collecting more enjoyable and help save money. More money = more coins!

1.) Not doing research.

Learning about coins is part of the fun of the hobby! If you aren’t learning about the coins you buy or find, then you are missing out on great learning opportunities.

Plus, doing research helps you get better prices, and learn more about the buying and selling aspect of the hobby.

By doing research, you can learn about key dates, errors, and mint marks that others may miss. This could give you a profit or help you add more rare coins to your collection.

There are many great resources online to learn about coins. You can also buy a coin collecting book. Two of the most popular coin collecting books are the Red Guide Book and the Blue Handbook, if you want to read a comparison of the two books go to “What is the Difference Between the Red and Blue Coin Collecting Books?”.

2.) Not organizing your collection.

Keeping your collection organized can be difficult at times. Especially if- like me- you enjoy taking your coins out to look at them.

Organization is important because it can help you spot if a coin is lost or stolen. Labeling coins can help you sell them or help people who may inherit your collection appropriately value the coins.

Storing coins properly will help prevent tarnishing and scratches that affect a coins value. If you want to read more about safe coin handling, check out “4 Essential Supplies to Handle and Store Coins Properly”.

3.) Focusing too much on trends.

This may be ironic coming from the person who has written articles condemning colorized coins and ranking ugly coins, but the most important part of your collection is making sure you enjoy every piece.

There are lots of things the general coin community likes to bash on, but if you enjoy them, go for it. Personally, I really like the Susan B. Anthony dollar coin and the Ozarks quarter! Fight me coin collectors!!

4.) Not checking your spare change.

There are sooooo many coins that can be found in your spare change. It is rare, but not impossible to find valuable old coins from coins you get as change.

You don’t need to check every handful of coins for minute errors, but giving a quick scan for silver, buffalo nickels, or older wheat-back pennies can be profitable.

If you get really into it, you can also start coin roll hunting! Coin roll hunting is when you get rolls of wrapped coins from the bank and search them in search of treasures. If you want to learn more about coin roll hunting, check out “What is Coin Roll Hunting?”.

5.) Focusing too much on precious metals.

Silver and gold coins are amazing. They combine precious metal collecting with coin collecting. Buying coins with a precious metal content is a good idea, because even if the numismatic value falls, they will still be worth the price of the metal.

Before you decide to focus solely on collecting coins made of silver or gold, I think it is worthwhile for any coin collector to learn about the appeal of other types of coins. Coins are also loved for their history, rarity, and intricate designs.

There’s nothing wrong with focusing on only silver coins. A huge collector favorite are the large silver-dollar coins. Being a coin collector led me to becoming a silverbug ;). (If you don’t know what a silverbug is, click here!)

6.) Being too afraid to spend money.

Of course, people sometimes overpay for coins, I did not add that to this list, because I felt like it was covered by “do your research”. People who research coins before purchasing are less likely to fall for scams.

It is possible to do too much research and never feel like you are getting good deals on certain coins. Think of it this way, let’s say a coin has a current book value of $15, but you can only find it for $20. You put off buying because the coin is overvalued. Now, the price may stabilize and return to $15, but you may also be left waiting forever.

Be careful when you research coin prices to see if the prices you are seeing reflect how coins are currently being bought and sold. For this reason, I do most of my price research from the “sold” listings on eBay.

Any big mistakes you made when you started collecting? Maybe you bought a fake coin, or lost all your coins in a tragic boating accident? Share a comment below and vote in our poll below!

Coreen4 Comments
Coin Necklaces Bezel Dollar Innovation and Mercury Dime

How to Make a Coin Bezel Necklace – Easy!

I looooove coin jewelry! It’s a great way to show off my favorite finds and get others interested in coins. Today I’ll show you how you can make your own coin jewelry.

Step 1: Decide What Coin You Would Like To Wear

If you are reading this article, I assume you already have a coin in mind. I recommend mercury dimes and small gold cents in jewelry! They are small enough to be inconspicuous and not too gaudy. I wear my mercury dime necklace everyday!

Today I will be making a dollar coin necklace. I was caught between the American Innovation Series Telephone Coin or a Susan B. Anthony Dollar coin. I decided on the Telephone Coin because I think it looked better in contrast to the silver color of the bezel.

  • SBA Coin in Bezel Susan B Anthony
I decided on the newer Innovation Dollar Coin.

Step 2: Find A Correctly Sized Bezel

A bezel is the ring that holds your coin in place. There are two main types of bezels and how they secure your coins. One type uses prong in the back to keep the coin in place, the other is a screw-top bezel which uses tension to keep the coin in place.

Screw Bezel:

Screw Labeled Bezel
Screw Bezel

Prong Bezel:

One prong turned down.

If you are using a valuable coin, definitely pick a bezel that does not use prongs, as the prongs will dig into the coin and diminish its value.

I decided to make a necklace out of a cheap dollar coin, so I was not worried about the type of bezel I used. Here is the bezel I decided on, the Sabrina Silver 26mm Diamond Cut:

Sabrina Silver Bezel Diamond Cut Dollar Coin
Sabrina Silver Diamond Cut Bezel.

Step 3: Center the Coin in the Bezel

Make sure you properly center the coin in the bezel! It is very hard to change after it is secured. I recommend putting it in place and then checking in a mirror to see how you like it.

Where I centered the coin.

Step 4: Secure the Coin

For this prong-type bezel, you will need to move the prongs without scratching the front of the bezel. The best way to do this is to put a folded piece of paper or cloth on the front of the coin to prevent scratches.

This way, you can push on the front of the coin with your pliers and not cause any damage to the surface of the coin.

Push in Tabs Bezel How To
How to push in tabs on a coin bezel.

Make sure all the prongs/tabs are tightly secured, you do not want the coin to jiggle free.

Step 5: Attach Your Necklace

The biggest step here is to make sure the necklace lays flat against your neck when it is worn. For some bezels, that may mean using a jump instead of directly attaching the chain to the bezel.

Finished coin on necklace Bezel Telephone Coin
Finished Dollar Coin Necklace

There are many different types of chains you could use. For my dollar coin necklace, I decided to use a regular nickel-plated chain since I had one on hand. For my mercury dime necklace, since it is a valuable coin, I opted to buy a .925 sterling silver chain.

Step 6: Wear It!

Congratulations! You did it!

Mercury Dime Necklace

I made this Mercury dime necklace 2 years ago and have worn it everyday! A lot of people have complimented me on it.

The hardest part about making coin jewelry is usually gathering the appropriately sized materials.

Below I will attach a list of my recommended products. The dollar coin items will be cheaper, since the coin is usually cheaper. I will recommend nicer/more valuable material for a Mercury dime necklace, because I like the way silver and gold-filling look.

You can make either one as cheap, or as expensive as you would like, feel free to message me for product recommendations!

Here is a list of what I would recommend for making your own dollar coin necklace:

Here is a list of recommended products for a mercury dime necklace:

Do you wear coin jewelry? Share a comment and vote in our poll below!

I am an Amazon Affiliate, so I earn a commission on sales made through my links. This does not increase the price of any item linked through my site. My main goal is to inform.

CoreenLeave a comment
Close Up Size Comparison Staple Free Coin Flip Cardboard

Peel-N-Seal Cardboard Coin Flip Review: No More Staples!

The Peel-N-Seal products are meant to replace traditional 2×2 cardboard flips. A regular cardboard flip requires staples to be secured, BCW created a brand of self-adhesive coin flips.

Here is the version I will be reviewing, the 2″x2″ flips for half dollars. These were purchased on Amazon.


BCW Peel-N-Seal Self-Adhesive 2×2 Coin Flips for Half Dollars 100ct

How to Use Peel and Seal Coin Flips:

1.) Pick a coin in the right size to go in the flip.

BCW Self Adhesive Cardboard Flip for Half Dollars
1963 Franklin Half under a BCW Peel-N-Seal Flip

2.) Remove the sticker protecting the adhesive.

Peeling Adhesive
Peel up the adhesive. I have longer nails, so this was no problem.

3.) Center coin on one of the windows.

Center Coin on Flip
Center coin on one side of the flip. It is helpful to use a flat surface.

4.) Press firmly around all edges.

Press Firmly
Make sure to focus around the window, keeping the coin in the center.

5.) Finished!

1963 Franklin Half Dollar in cardboard flip
Tah-dah! Perfectly sized.

Benefits:

There are several benefits to using self-adhesive coin flips.

First, it is much easier and faster to use the self-adhesive coin flips than stapling. With a regular coin flip you have to use at least 2 staples to secure the coin.

Without staples, the flips can lay flat together! When you have many traditional coin flips, the staples prevent the cardboard from laying flat, so the flips do not look organized together.

Size comprison stacked BCW Staple Free Peel n Seal
Comparing sizes of stapled flips vs. staple free flips.

Another drawback of using staples is that the staples can damage the coin. Whether the staple is rubbing against the coin in it’s own cardboard flip, or stabbing a coin in the flip behind it, small scratches diminish a coin’s value.

One great thing is that there is more room for labeling. Coin collectors like cardboard flips because you can write the coins denomination, year, and mint mark on the cardboard so that it is easy to quickly catalogue coins. Without the pesky staples, coin collectors have more room for writing on the Peel-N-Seal flips.

Drawbacks:

One of the biggest drawbacks is the price, Press-n-Seal coin flips can be 50% to 100% more expensive than traditional coin flips. It is really up to you whether the time saved is worth the cost. If you go through many coin flips, the price could really add up.

I purchased 100 ‘Self Adhesive Peel-N-Seal’ coin flips for half dollars. If I was going to redo my purchase I would probably use these flips for pennies, nickels, or dimes. Since half-dollars are heavier, I am worried about the half dollars falling out of the flips, particularly when the adhesive begins to age.

The company, BCW, says on their website that they use archival polyester for the window, but no mention is made of the adhesive. In the long-term, the glue used to hold the cardboard together could potentially lead to toning on the coins.

Since BCW specializes in coin supplies, I assume they put thought into the type of adhesive used and how it could affect the coins, but it is not addressed on their website.

I saw several reviews online saying that some people found the adhesive was not working on half-dollar coin flips, but I have not found this to be the case. One reviewer mentioned having to use a lot of force to keep the coin in the holder and that was not my experience at all.

I pushed the coin in securely around the window to keep it in, but I did not have to fight with the coin to keep it down. Perhaps the company made changes to the design since that review was posted?

Out of the 6 BCW flips I have used so far, I had one that was misaligned. Removing the coin from the misaligned flip was more difficult than I expected. Here is a photo of the misaligned coin below, the obverse is centered, but the reverse is off.

Minor misaligned coin flip.

I thought I would be able to peel the coin open from the adhesive layer, but after only a minute in the flip, it was glued tight, so I reverted to tearing it open. (You could use scissors if you are careful not to knick the coin.)

Tearing Flip Removing Coin From Cardboard Flip Adhesive
Tearing the flip open.

So this could definitely be a drawback. If you move coins out of flips often, it is much easier to use a regular coin flip and a staple remover. On the other-hand, I am much more confident in the quality of the adhesive after this!

Comparing BCW Peel and Seal to regular cardboard flips.

This is a really useful tool for coin storage. The BCW coin flips have much thinner cardboard, plus since they are staple-free, they lie much flatter.

Here is a comparison of a standard, stapled penny flip on the left with an adhesive cardboard flip on the left. The Press-N-Seal flip is about 30% thinner.

Comparison Thickness Standard Flip vs BCW Adhesive Flip
Standard Cardboard Flip vs a Self Adhesive

Using the image I used earlier, look at how the smaller width transfers to a much cleaner and more organized look than traditional staples.

Size comprison stacked BCW Staple Free Peel n Seal

Now, to be fair, I have been using regular paper staples on my coin flips. A reader pointed out that you can purchase staplers that staple flat. I asked for his flat stapler recommendation, and he recommended this one:


Max Flat Clinch Light Effort Stapler, 35-Sheet Capacity

Final Thoughts:

I like these more than I expected to. These cardboard coin flips look very clean and organized and that is a big plus for me. I would prefer to use these with pennies, and coins that are less valuable to me.

Aligning the coins is a little frustrating, but I have the same problem with traditional stapling coin flips.

Overall I would recommend giving these a try. If you do decide to purchase Peel-n-Seal coin flips, it would help support my site if you use my Amazon Affiliate link, the small advertising revenue allows me to continue writing reviews and informational articles on American Coin Stash.

Click here to be redirected to Amazon >>

Share a comment below and vote in our poll!

Coreen1 Comment