Gold and grading share the spotlight in The Coin Collector’s Survival Manual, Seventh Edition, the just-released latest edition of the perennial hobby bestseller by award-winning author Scott A. Travers.
Published by Random House, this thoroughly updated 400-page book also contains two new and timely fact-filled chapters; one on buying and selling gold coins and other precious metal items, the other on recent innovations in coin grading.
With gold scaling record-high price levels, Travers examines the impact the precious metals boom is having on the rare coin market. Citing one expert’s prediction that gold might soar to $10,000 an ounce, he shows why this is not far-fetched. A new section of the book looks at possible negative effects for collectors and dealers if burdensome IRS 1099 reporting requirements are not changed before their scheduled implementation in 2012.
Travers also provides pointers on how to avoid being victimized when buying or selling valuables containing precious metal, and goes behind the scenes to show in detail how buyers determine the value of gold and silver in items they buy from the public. Travers reveals insider secrets for getting the most money when selling gold and silver coins, jewelry or "scrap."
He cautions that high-profile gold buyers who advertise extensively often pay rock-bottom prices, "luring cash-starved victims with slick TV commercials or eye-catching newspaper ads promising ‘top dollar’ for the gold that’s sitting idle in their jewelry boxes or drawers."
A new chapter titled "A Grade Leap Forward" explores what Travers calls "the new math of coin grading" — the enhancement made possible in early 2010 when the Professional Coin Grading Service introduced its PCGS Secure Plus™ system and added intermediate "plus" (+) designations to coins at the high end of their grade level. The Numismatic Guaranty Corporation of America (NGC) soon began offering similar grading.
Exclusive first-time photographs show the differences between "regular" and "plus" grades.
Travers also explains how Secure Plus™ combats coin "doctoring" and shares insiders’ tips on how to get the greatest value when buying and selling PCGS and NGC plus-grade coins. Hundreds of never-before-published digitized coin images give readers a clear look at subtle grading nuances and ways to detect altered coins. In a beefed-up color section, surprising photos reveal how the same coin was given different grades by leading services. It also shows examples of difficult-to-detect doctored and altered coins, plus endangered coins rescued from harm’s way through proper conservation.
Exclusive color photographs pinpoint how to distinguish between Morgan dollars and Saint-Gaudens Double Eagles that are Mint State-65 and Mint State 65+ — a small difference in grade that can make a significant difference in marketplace value.
The Coin Collector’s Survival Manual, Seventh Edition provides consumer-friendly advice on how to buy and sell U.S. and world coins, plus consumer protection information about the potential hazards of buying rare coins on the Internet and caveats about online auctions.
The Coin Collector’s Survival Manual, Seventh Edition has a suggested retail price of $22.99, and is available now in bookstores everywhere and online at www.RandomHouse.com.