Coins as Gifts

Buying coins as gifts is something that may well be appreciated. Bu t, if it is done right it may have an even better chance of being greatly appreciated. Here we will look at how to better select, package, and give coins as gifts.

Boxed coins have a great advantage when being considered as a gift. The box may sometimes be large enough to wrap and add a bow. This can add to the appeal.

Coin boxes range from the size of a jewelry box to slightly larger, and this could easily throw the person to whom it is being given off and maintain the surprise.

One thing that is important to remember is to not tape directly to the box. Many collectors want to keep the box in great shape.

Of course, the other option is to use a gift bag. The small ones are just right for a coin.

New coins, still in the mint packaging, offer an assurance of quality, even if the person giving the coin has no clue as to the coin's quality.

Another option is to buy a graded coin. Grading of MS-70 is the highest, while MS-69, very desirable by most collectors is about half the price. However, not all grading companies grade well. Many inflate the grading. Two that most collectors respect are NGC and PCGS. The plastic slab also can be placed easily in a gift bag.

Other words that can assure higher quality are "proof," "first strike," and "cameo." Cameo coins can be deep cameo mirror-like, or reversed cameo.

Not every collector collects all coins. Here you have two options. Find out what the person collects and give a related coin, or give something different that you can be somewhat certain will not be a duplicate.

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Storage Box for Graded Coins

This box holds 20 slabbed coins.

 NGC Plastic Storage Box for 20 Slab Coin Holders

 

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Certified Coins

Certified Coins are coins that have been graded by a professional service, then sealed in a slab. This provides some assurance of the grade, and other significant qualities such as First Strike or Deep Cameo.

 Unfortunately, the assurance does not exceed the reputation of the grading service. While there are many, and a few good ones, NGC and PCGS are the ones we very comfortable with.

 So, if a coin has been graded by a good service, does that guarantee its quality? No, the humans doing the grading make mistakes, albeit rarely if the service is good. Another thing to consider is any damage due to contact with foreign materials such as oils, or exposure to chemicals in the air. In such cases the damage may not be there when the coin is graded, but can still show up later. 

Poor grading services tend to over-value coins. This could be due to incompetence, grading as they think the collector would like, or running up the grading fee. And, some people grade their own, then place fake labels inside the slab. We even got one that did not bother to glue the slabs. They opened by hand. Coin slabs are also counterfeited. This is why the top services change regularly, adding obscure markings. Of course these markings must be revealed or collectors would have no idea if the slab is genuine. And, this does not change slabs that are already out.

 Grading can also be expensive, and you may have to submit postage for each coin in an order to be returned. This is because the person who specializes in buffalo nickels may not be qualified to grade Morgans, and your order may get separated. Check to see how this is handled by the service you choose.

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