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34-680: Whitman now primarily produces coin and stamp collecting books and materials. The company is owned by Anderson Press. From the early 1900s to the mid 1980s, Whitman was a popular children's book publisher. For decades it was a subsidiary of Western Publishing Company . In 1933 the company signed a licensing contract with Walt Disney to produce books based on Disney cartoon characters, such as Mickey Mouse , Donald Duck , and Goofy . Books about movie and television dog stars, including Rin-Tin-Tin and Strongheart , were published. Whitman also published Whitman Authorized Editions with stories featuring fictionalized versions of popular actresses of

68-522: A brief time, or coins with errors . Coin collecting can be differentiated from numismatics , in that the latter is the systematic study of currency as a whole, though the two disciplines are closely interlinked. Many factors determine a coin's value including grade, rarity, and popularity. Commercial organizations offer grading services and will grade, authenticate, attribute, and encapsulate most coins. People have hoarded coins for their bullion value for as long as coins have been minted. However,

102-405: A broad variety of historical or geographically significant coins, but most collectors focus on a narrower, specialist interest. For example, some collectors focus on coins based on a common theme, such as coins from a country (often the collector's own), a coin each year from a series, or coins with a common mint mark . There are also completists who seek an example of every type of coin within

136-530: A certain category. One of the most famous of this type of collector is Louis E. Eliasberg , the only collector thus far to assemble a complete set of known coins of the United States . Foreign coin collecting is another type of collection that numismatics enjoy collecting. Coin hoarders are similar to investors in the sense that they accumulate coins for potential long-term profit. However, they typically do not take into account aesthetic considerations. This

170-412: A grading service in the hope of receiving a higher grade. Because fees are charged for certification, submitters must funnel money away from purchasing additional coins. Coin collector clubs offer a variety of benefits to members. They usually serve as a source of information and unification of people interested in coins. Collector clubs are popular both offline and online. Bullion Bullion

204-625: A patriotic coin was minted in 1813 by the United Provinces of the Rio de la Plata . One of the first pieces of legislation the new country enacted (after the revolution that freed it from Spanish rule) was to mint coins to replace the Spanish currency that had been in use. Another example is the U.S. 2022 Purple Heart Commemorative Coin Program. Some coin collectors are generalists and accumulate examples from

238-645: A pursuit of the well-to-do. But rational, Enlightenment thinking led to a more systematic approach to accumulation and study. Numismatics as an academic discipline emerged in these centuries at the same time as a growing middle class , eager to prove their wealth and sophistication, began to collect coins. During the 19th and 20th centuries, coin collecting increased further in popularity. The market for coins expanded to include not only antique coins, but foreign or otherwise exotic currency. Coin shows , trade associations, and regulatory bodies emerged during these decades. The first international convention for coin collectors

272-484: A reputation for stability in periods of economic uncertainty. To assess the purity of gold bullion, the centuries-old technique of fire assay is still employed, together with modern spectroscopic instrumentation, to accurately determine its quality. The specifications of bullion are often regulated by market bodies or legislation. In the European Union , the minimum purity for gold to be referred to as "bullion", which

306-411: A store of value. Gold bullion and silver bullion are the most important forms of physical precious metals investments. Bullion investments can be considered as insurance against inflation or economic turmoil, their sole direct counterparty risk is theft or government confiscation. Compared to numismatic coins, bullion bars or bullion coins can typically be purchased and traded at lower price premiums over

340-555: Is non-ferrous metal that has been refined to a high standard of elemental purity. The term is ordinarily applied to bulk metal used in the production of coins and especially to precious metals such as gold and silver . It comes from the Anglo-Norman term for a melting-house where metal was refined, and earlier from French bouillon , "boiling". Although precious metal bullion is no longer used to make coins for general circulation, it continues to be held as an investment with

374-514: Is most common with coins whose metal value exceeds their spending value. Speculators, be they amateurs or commercial buyers, may purchase coins in bulk or in small batches, and often act with the expectation of delayed profit. They may wish to take advantage of a spike in demand for a particular coin (for example, during the annual release of Canadian numismatic collectibles from the Royal Canadian Mint ). The speculator might hope to buy

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408-406: Is subjective; coins may be graded differently by different services or even upon resubmission to the same service. The numeric grade alone does not represent all of a coin's characteristics, such as toning, strike, brightness, color, luster, and attractiveness. Due to potentially large differences in value over slight differences in a coin's condition, some submitters will repeatedly resubmit a coin to

442-458: Is the inheritor, an accidental collector who acquires coins from another person as part of an inheritance . The inheritor type may not necessarily have an interest in or know anything about numismatics at the time of the acquisition. In coin collecting, the condition of a coin (its grade ) is key to its value; a high-quality example with minimal wear is often worth many times more than a poor example. Collectors have created systems to describe

476-552: Is treated as investment gold with regard to taxation, is 99.5% for gold bullion bars and 90% for bullion coins . Investors may choose to purchase physical bullion for several reasons – to attempt to hedge against currency risks, inflation risks, geopolitical risks, or to add diversification to an investment portfolio. The London bullion market is an over-the-counter market for wholesale trading of gold and silver. The London Bullion Market Association (LBMA) coordinates activities of its members and other participants in

510-465: The Big Little Books and Better Little Books. The early Big Little Books had print runs of 250,000 to 350,000 for each title, with no reprints. They also published illustrated card games including War , Hearts , Fish , Old Maid , and Crazy Eights . By the mid-1930s Whitman began a line of “coin boards” that helped popularize the coin collecting hobby. Whitman’s Handbook of United States Coins

544-477: The H.   E. Harris company, another publisher that specialized in coin and postage stamp collecting materials. H.   E. Harris was then renamed Whitman Publishing, which continues to produce primarily coin and postage stamp collecting books materials. Whitman operates the websites Coin Update , Mint News Blog and World Mint News Blog . Today, Whitman Publishing is owned by Anderson Press. As of 2017, Whitman

578-604: The Holy Roman Empire , Louis XIV of France, Ferdinand I of Spain and Holy Roman Emperor, Henry IV of France and Elector Joachim II of Brandenburg , who started the Berlin Coin Cabinet (German: Münzkabinett Berlin ). Perhaps because only the very wealthy could afford the pursuit, in Renaissance times coin collecting became known as the "Hobby of Kings". During the 17th and 18th centuries coin collecting remained

612-734: The 1940s and, later, novels based upon popular television shows, such as Captain Kangaroo , The Patty Duke Show , and The Beverly Hillbillies . One of Whitman's most popular mystery series was Trixie Belden . In 1977 they launched the Trixie Belden Fan Club, and issued a lower-priced paperback book format of the series. At the time some booksellers stated that the Trixie Belden books were more popular than Nancy Drew and The Hardy Boys books. Other children's book series were Meg Duncan and Power Boys Adventure . Whitman published

646-429: The 1980s with the goals of standardizing grading, exposing alterations, and eliminating counterfeits. For tiered fees, certification services grade, authenticate, attribute, and encapsulate coins in clear plastic holders. Coin certification has greatly reduced the number of counterfeits and grossly over graded coins, and improved buyer confidence. Certification services can sometimes be controversial because grading

680-661: The 20th century, such as the Maria Theresa thaler and the Krugerrand . Modern bullion coins generally do not enter common circulation despite having legal tender status and nominal face value. Some modern bullion coins are produced as business strike and collectible proof and uncirculated versions, such as the American Silver Eagle and American Gold Eagle coins. Private mint strikes called bullion rounds, bullion wafers or bullion bars are typically sold at prices slightly above

714-559: The London bullion market. The LBMA sets and promotes quality standards for gold and silver bullion bars. The minimum acceptable fineness of the Good Delivery Bars is 99.5% for gold bars and 99.9% for silver bars. Bars with a purity less than these may not be referred to as "bullion". Bullion coins are contemporary precious metal coins minted by official agencies for investment purposes. Some bullion coins have been used as currency throughout

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748-592: The Twelve Caesars ), written in the first century AD , the emperor Augustus sometimes presented old and exotic coins to friends and courtiers during festivals and other special occasions. While the literary sources are scarce, it's evident that collecting of ancient coins persisted in the Western World during the Middle Ages among rulers and high nobility. Contemporary coin collecting and appreciation began around

782-429: The bullion markets, such as banks , fabricators , refiners , and vault operators or transport companies, as well as brokers . They provide facilities for the refining, melting, assaying, transporting, trading and vaulting of gold and silver bullion. Other professional parties such as investment companies and jewelers use bullion in the context of products or services which they produce or offer to customers. Shares of

816-413: The coin in large lots and sell at a profit within weeks or months. Speculators may also buy common circulation coins for their intrinsic metal value. Coins without collectible value may be melted down or distributed as bullion for commercial purposes. Typically they purchase coins that are composed of rare or precious metals, or coins that have a high purity of a specific metal. A final type of collector

850-465: The collection of coins for their artistic value was a later development. Evidence from the archaeological and historical record of Ancient Rome and medieval Mesopotamia indicates that coins were collected and catalogued by scholars and state treasuries. It also seems probable that individual citizens collected old, exotic or commemorative coins as an affordable, portable form of art. According to Suetonius in his De vita Caesarum ( The Lives of

884-543: The expectation that the value of their purchase will increase over the long term. As with all types of investment, the principle of caveat emptor applies, and study is recommended before buying. Likewise, as with most collectibles, a coin collection does not produce income until it is sold, and may even incur costs (for example, the cost of safe deposit box storage) in the interim. Some people collect coins for patriotic reasons and mints from various countries create coins specifically for patriotic collectors. One example of

918-488: The fourteenth century. During the Renaissance , it became a fad among some members of the privileged classes, especially kings and queens. The Italian scholar and poet Petrarch is credited with being the pursuit's first and most famous aficionado. Following his lead, many European kings, princes, and other nobility kept collections of ancient coins. Some notable collectors were Pope Boniface VIII , Emperor Maximilian I of

952-427: The hobbyists, who amass a collection primarily for the pleasure of it without the intention of making a profit. Another frequent reason for purchasing coins is as an investment. As with stamps , precious metals , or other commodities, coin prices vary based on supply and demand . Prices drop for coins that are not in long-term demand, and increase along with a coin's perceived or intrinsic value . Investors buy with

986-842: The overall condition of coins. Any damage, such as wear or cleaning , can substantially decrease a coin's value. By the mid 20th century, with the growing market for rare coins, the American Numismatic Association helps identify most coins in North America, numbering coins from 1 (poor) to 70 (mint state), and setting aside a separate category for proof coinage . This system is often shunned by coin experts in Europe and elsewhere, who prefer to use adjectival grades. Nevertheless, most grading systems use similar terminology, and values and remain mutually intelligible. Third-party grading (TPG), aka coin certification services , emerged in

1020-474: The underlying prevailing precious metals spot price commensurate with their precious metal content, whereas collectible versions are sold at a significant premium over their precious metal bullion melt value. In some cases, the grade and mintages of privately struck rounds, bars or wafers can affect their value as a collectible too, they can at times be considered collectible numismatic pieces rather than bullion items. Professional market participants participate in

1054-544: The world's largest gold exchange-traded fund , the SPDR Gold Shares , represent a gold spot price mimicking derivative although shareholders in popular gold ETFs such as GLD are almost always unsecured creditors, meaning they own no vaulted gold bullion potentially underlying the exchange-traded fund (ETF). Investors often prefer to own bullion outright over ETFs due to the minimization of counter-party risks inherent. Private individuals use bullion as an investment or as

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1088-474: Was also publishing books on other topics in addition to the coin and postage stamp collecting materials and books. Coin collecting Coin collecting is the collecting of coins or other forms of minted legal tender . Coins of interest to collectors include beautiful, rare, and historically significant pieces. Collectors may be interested, for example, in complete sets of a particular design or denomination, coins that were in circulation for only

1122-522: Was first published in 1942. The first edition of Whitman’s Guide Book of United States Coins (the “Red Book”) was published in 1946. This started an expanding line of books aimed at numismatists . The line continued as Western was sold to Mattel in 1982, then was spun off and renamed Golden Books Family Entertainment. The new company sold Whitman Coin Products and other adult lines to St. Martin's Press . St. Martin's, in turn, sold Whitman Coin Products to

1156-534: Was held 15–18 August 1962, in Detroit , Michigan, and was sponsored by the American Numismatic Association and the Royal Canadian Numismatic Association . Attendance was estimated at 40,000. As one of the oldest and most popular world pastimes, coin collecting is now often referred to as the "King of Hobbies". The motivations for collecting vary. Possibly the most common type of collectors are

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