Coin Collecting Merit Badge
Workshop
By : Jim
Bevill
Texas Numismatic
Association
1’st Vice President
• Coin Collecting Merit
Badge Counselor
SHAC / Rising Star
District
Merit Badge Requirements
• 1) Understand how coins are made,
and where the active U.S. Mints
are located.
This mint opened its doors in 1792
The “Mile High” Mint
(as it looked on opening day in 1906)
This mint survived the 1906
earthquake and fire !
“The Granite Lady”
This mint strikes only gold, silver
and platinum bullion coins !
#2 Explain these Collecting Terms
•
•
•
•
•
•
A) Obverse
B) Reverse
C) Reeding
D) Clad
E) Type Set
F) Date Set
Obverse = Heads !
Reverse = Tails
Many coins have a reeded edge !
Clad coins, are made of fused
metal, not gold or silver.
Type Set
Date Sets – 2 Types
• All varieties and
mintmarks of a
particular date .
- or • A series of coins
collected in date
order, without regard
to mintmarks.
#3 Coin Grading
• Sheldon Grading Scale (see handout)
• Grades range from Poor, Good, Fine, Extra Fine,
Almost Uncirculated, and Uncirculated on a
scale of 1 – 70 ! A coin graded 70 is perfect !
• Very Important ! Very Subjective !
• The higher the grade, the more expensive
the coin !
Grading U.S. Mercury Dimes
AG
Good
Fine
Mercury Dime Grading
Very Fine
Extremely Fine
Uncirculated
Proof Coins
• A specially made coin distinguished by
sharpness of detail and a brilliant mirrorlike
surface.
• It is a method of manufacture, double struck with
great care on polished dies.
• Most proof coins are in perfect, mint state
condition, though many older proofs were once
in circulation.
Is this 1860 Seated Liberty Dollar
a proof coin ?
Encapsulated or “Slabbed” Coins
• Third party guarantee
of authenticity.
• Independent grading
opinion.
• Protected in sealed
plastic holders.
Even the best grading services
make mistakes !
#4 Know at least three different
ways to store your coin collection ?
Know your paper money !
Federal Reserve Notes
•
The serial number on US paper currency is applied separately from the portraits and
symbols that characterize the bill. Printed in bright green ink when the uncut bills
arrive at each Reserve Bank, this number represents the bill's unique identity.
•
A serial number consists of two prefix letters, eight numerals, and a one-letter suffix:
•
The first letter of the prefix denotes the currency series.
•
The second letter of the prefix indicates the Federal Reserve Bank at which the bill
was produced.
•
The eight digits represent the bill's sequential order within its group. The one-letter
suffix is a further sequential counter within each Reserve Bank's bills in a series.
•
The suffix letter advances when the 8-digit number reaches 99999999 (for example,
xx99999999B is followed by xx00000001C). The entire alphabet is used for this
process except for the letter O.
•
Bills with a star in the place of their suffix letter are replacements for bills that did not
meet federal standards after the printing process and are subsequently destroyed.
•
Bills produced before 1996 were printed with the seal of their particular Reserve
Bank; new bills feature a universal Federal Reserve Seal.
#5 Identify the people on the
$1, $2, $5, $10, $20, $50, $100
…also…Explain “legal tender”
Describe the role of the Federal
Reserve System plays in the distribution
of money.
What’s wrong with this $1 bill ?
This $2 bill commemorates the
American Bicentennial !
What is different about this $5 bill ?
Why does this bill say “Hawaii” ?
Is something missing on this $20 ?
• Some collectors
pay big bucks for
printing errors on
currency !
It can pay you to pay
attention to the details
on paper money that
is in circulation !
$100,000 in Cash !
U.S. Federal Reserve System
Federal Reserve is the Banker’s
Bank !
#6 Numismatic Reference
a)
Demonstrate how to
use a U.S or a world
coin reference catalog.
b) Read a numismatic
magazine or a
newspaper and
tell your counselor
what you have
learned.
“The Red Book”
(The most widely accepted
reference on United States Coins)
#7 State Quarters
1) Describe the 19992008 State Quarters
Program
2) Collect and show
5 different examples
What kind of horse is being ridden
on this 1999 Delaware quarter ?
#8 Collect from circulation a set
of currently circulating U.S. Coins
• 1) Include one coin of
each denomination.
• 2) For each coin,
locate the mint marks,
if any, and the
designers initials.
#9 Collect and identify
• 1) 50 foreign coins from at least 10 countries. or –
• 2) 20 bank notes from at least 5 different
countries. – or –
3) 15 different tokens or medals. – or –
4) Collect a date set of a single type since the
year of your birth.
#10 Do one of the following…
• A) Tour a U.S. Mint, BEP, or Federal Reserve
bank and describe what you learned.
- or • B) Attend a Coin Show or Coin club meeting, or
view the mint’s website or a dealer’s website
and describe what you’ve learned.
- or • C) Give a talk about coin collecting to your troop
or at school.
- or • D) Do drawings of five Colonial-era U.S. Coins.
The Texas Numismatic Association
wishes you well on your coin
collecting merit badge !
www.TNA.org