Archive for Sunday, July 25, 2004
Playing with money
Dealers offer their two cents on fascination with coins
The first local coin, currency and collectables show this weekend may have generated more interest than revenue, but co-host Steve Patterson said education is also important. Although dealers need to sell pieces to survive, many are there because of their passion for the trade and the enjoyment of sharing that excitement with people new to the world of rare coins and currency.
"I've been having a great time," Patterson said Saturday afternoon. He explained that "The Red Book" is the definitive guide for coin collectors, and it's the first thing collectors generally buy. "I've sold more of those (at the Craig show) than in the last four to five shows combined," he said.
The Erie dealer said that the interest is likely a positive sign for future shows and probably means the local collectors' scene will continue to grow.
Nearly 100 people filtered in and out of the show before 3 p.m. Saturday, said Erika Everett, who greeted visitors. One family from the Four Corners area was in town for the Triple Crown baseball tournament. They were wandering across town when they saw the signs for the show and stopped in to peruse the offerings until their evening game. Rick Casaus said he enjoys attending shows like this with his family because of the interesting facts he and his children learn.
People collect for different reasons. Patterson rattled off the thrill of a treasure hunt, an addiction, or an interest in history as three reasons.
Terry Elmer, another Front Range collector and dealer, pointed out that most coin collectors also collect something else, suggesting it may have to do with an instinct to hoard things. For Elmer, sifting through coins after a rough day relaxes him.
Carol McCurdy, who was born in Craig and now lives in Crowley, is not a collector but she said she enjoys coming as a dealer to interact with other dealers and the people who stop at her table. On this visit, she got to spend time with her mother who lives in Craig. She said she often brings a box with hundreds of foreign coins to sell for 25 cents a piece and people will sift through that box in search of very specific things.
"They look for size -- either tiny or huge -- or animals, or shapes, or ones with a hole in the middle, or scalloped edges," McCurdy said.
Elmer said he looks for EFOs (errors, freaks and oddities). One example is a 1984 cent on which Lincoln has a second ear -- on the same side of his head -- now worth $200 according to "The Red Book."
Elmer offered free advice for beginning collectors: Go to the bank and ask for any odd pieces they might have. Elmer said he's found some interesting pieces that way and he said the banks are often eager to give it away, because odd money is harder to deal with than common coins and currency.
Another tip to impress those in-the-know: Never call a one-cent piece a penny. Elmer said there is officially no such thing in the United States. Call it a cent, and you're one step ahead of the game.
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