• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Archived

This topic is now archived and is closed to further replies.

Business Strike?

Started by collectingfamily,

26 posts in this topic

John Martinez

John Martinez

Posted
Posted

I did not get a chance yet to welcome you and your family to our community. I'm fairly new myself so I'll defer your question to the more experienced. I understand "Business Strike" to mean that the coin is meant for circulation, and therefore one can conduct business with it.

Link to comment
Share on other sites
DaveG

DaveG

Posted
Posted

As Xpipe said, "business strike" is the name today's collectors give to "regular" coins meant for circulation, rather than for sale to coin collectors or presentation to a VIP.

 

"Proof" or "specimen" are terms used to designate particular methods of manufacture and such coins are almost always made for sale to collectors or presentation to VIPs.

 

For example, modern US proof coins are minted from specially polished planchets that are struck twice by specially polished dies. They are minted on slower-speed presses and the coins are carefully removed from the press.

 

Modern US "business strike" coins are minted from "regular" planchets that are struck once by "regular" dies. They are minted on high-speed presses and the coins are then dumped by hopper into giant (shipping pallet-size) plastic bags.

Link to comment
Share on other sites
cpm9ball

cpm9ball

Posted
Posted
Well, according to PCGS, the very first dollar ever made is a "specimen."

 

link

 

 

 

 

Don't ask how they know it's the first one struck...it just is, OK wink.gif

 

Xpipe , are you sure that isn't a misquote? Didn't PCGS mean that they still have the first dollar THEY ever made? 27_laughing.gif

 

Chris

Link to comment
Share on other sites
cpm9ball

cpm9ball

Posted
Posted
That Rare Coin Wholesalers guy is pretty lucky. King of Siam Proof Set, and the first gold and silver US coins ever made.... WOW!

 

Did he inherit his luck (money!) or did he earn it?

 

Chris

Link to comment
Share on other sites
DaveG

DaveG

Posted
Posted

The US has made Proof and/or Specimen coins since the first US coins were minted, I believe, although very, very few were made until the Mint started formally selling Proof coins to collectors in the late 1850s.

 

Throughout the 19th Century, a collector could order one, several or all the Proof coins minted that year. I believe that Proof coins began to be sold only as sets in 1936.

 

(By the way, this is the sort of information for which the Red Book is very useful.) grin.gif

Link to comment
Share on other sites
RWB

RWB

Posted
Posted

The term "business strike" was invented by numismatic research genius Walter Breen. It is not, in the opinion of some, a very useful term since it brings to question "What sort of business?" Producing all sorts of coins is the "business" of the mint, not just circulating pieces.

 

The term "circulation strike" is more accurately descriptive if you are refering to a coin struck for circulation. The same applies to "proof strike" or "specimen strike" and other terms that are both accurately descriptive and clear.

Link to comment
Share on other sites
MunkyMan95

MunkyMan95

Posted
Posted

Vintage is cool! You won't believe how cheap some of the coins that are now $100's of dollars, back then were maybe only $10-$15! When I lift myself from my mail ban, I'll send you last year's copy.

Link to comment
Share on other sites
collectingfamily

collectingfamily

Posted
  • Author
Posted

Chad,

 

It is a really neat little book. It has a wonderful history of coins section in the beginning of the book, which we are reading as a family. I couldn't believe we found it yesterday...and it only cost 20 cents.

 

Kelly

Link to comment
Share on other sites
Bruceswar

Bruceswar

Posted
Posted
Vintage is cool! You won't believe how cheap some of the coins that are now $100's of dollars, back then were maybe only $10-$15! When I lift myself from my mail ban, I'll send you last year's copy.

 

 

Vintage is not so cool in coins. The new books have so much more information then the old ones could ever imagined. The book she has does not even use the current system of grading(Sheldon) not to mention with the 2006 book, you also get a great section in the back about the most famous collections every, and a slue of other things. This book old as it is, would be better suited for a collector who has been in the game longer and can take the book in as whole. A newer book would better suit a beginner. Just some thoughts as I have a few older redbooks, and rarely use them, since they are so outta touch with the market at all.

Link to comment
Share on other sites
MunkyMan95

MunkyMan95

Posted
Posted

I was saying that it's cool to see what the prices of some coins were way back when. Sure it's out of touch with reality, but it's still cool to look at.

Link to comment
Share on other sites
Bruceswar

Bruceswar

Posted
Posted

Sure it is and I agree with you there. Now for a new collector its nice to have new prices to compare them with, so they can see the increase on some coins.

Link to comment
Share on other sites
MunkyMan95

MunkyMan95

Posted
Posted

Yeah, that's true. Kelly, go to your local book store, even a used book store, and buy yourself a newer copy. Brand new 2006 edition in paperback is only about $15, and I'm sure you can get an '03 or an '04 for about $4-$5 at your local used bookstore, if you want to go that route. You might also check eBay for older versions.

Link to comment
Share on other sites
ldhair

ldhair

Posted
Posted

Vintage is cool!

The truth is, it's what the hobby is all about. smile.gif

 

Tell me this ain't cool. Check out the prices on CCs.

star0oq.jpg

Link to comment
Share on other sites
Bruceswar

Bruceswar

Posted
Posted
I just swallowed my tongue! Man oh man was I born in the wrong time period?!

 

No I think we are in a great time period. Just because coins have gone up in price does not mean we can't still enjoy them!

Link to comment
Share on other sites
Go to topic listing