Monday, September 21, 2009

Recent News

-The Royal Canadian Mint releases the 1st Olympic moment coin -Men's Ice Hockey into circulation this September, 29, 2009.

- This web page is now currently on the city of Burlington web site under community links.

Tuesday, August 11, 2009

Banknote Collecting

Collecting world Banknotes let's you travel all around the globe without leaving comforts of your home. When you collect banknotes from around the world you explore different cultures, places and countries, learn about nature, animals, birds, fishes and plants that are plentiful in seven continents of our Earth. Collecting banknotes of the world teaches you arts, geography, history, foreign languages even politics. This is an exciting hobby which many thousands of people all over the world enjoy so much along with coin collecting. Money, while it still serves as a symbol for a person's wealth and savings, it can also be a reflection of the history of the nation that uses it. Collecting money is truly one of the best hobbies around today.

Saturday, August 1, 2009

Cleaning coins

As a general rule you should not clean your coins. There are some exceptions when you can clean a coin, but make sure you know what you are doing first.

Thursday, July 30, 2009

World Currency Names

AUKSINAS (Lithuania) - means "golden" or "gulden". Auksinas derives from
lithuanian "
Auksas" which means "gold". Currently "Litas" is used in Lithuania
which has no particular or direct meaning or translation other than similarity with
the name of the country "Lietuva" (Lithuania; Litauen; Lituanie; Lituania).

COLON (Costa Rica, El Salvador) - derives from last name of Christopher Columbus -
Cristobal Colon

DRACHMA (Greece) - means "handful".

ESCUDO (Portugal) - means "shield", referring to the coat of arms on the original

FORINT (Hungary) - comes from the city of Florence, where golden coins were minted
from 1252 called fiorino d'oro. In Hungary, florentinus (later forint), also a gold-based
currency, was used from 1325 under Charles Robert.

FRANC (Frank, Frang) (France, Switzerland, Luxembourg) - first issued in
1360, as a gold coin. Gets its name from its original Latin inscription - Francorum
, which means "King of the Franks", - the title given to kings of France in the

GUILDER (Gulden, Florin) (Netherlands) - from the same root as "gilded", the
guilder was originally a gold coin. It was first introduced from Florence in the
13th century. Florin - another nickname for Guilder means "flowers".

KORUNA (Czechia, Slovakia) - means "crown".

KRONA (Kroner, Kronor) (Iceland, Sweden, Norway etc.) - means "crown".

KUNA (Croatia) - means "marten". Marten skins were used as money.

LIRA (Lire) (Italy, Turkey) - from the Latin word libra, which means "pound".

MALOTI (Kingdom of Lesotho) - Maloti is plural for Loti, currency of Lesotho,
a kingdom in Southern Africa.

PESETA (Spain) - means "little peso", and was created in the 18th century as a
"companion" coin to the Spanish peso.

PESO (Mexico) - means "weight". It was introduced by Spain in 1497, then
adopted by Mexico and other Latin American countries in the late 19th century.

POUND (English) - named for its weight in Sterlings, - the unit of currency in
Medieval England. The first pound coin was issued in 1642.

PULA (Botswana) - Pula means ‘rain’ in Setswana, but "pula pula" does not
mean a lot of rain. It means luck, prosperity, health.

RIYAL (Saudi Arabia) - borrows its name from the Spanish real, meaning "royal".

ROUBLE (Russia, Belarus etc.) - means "cut-off", a term that dates back to the
days when portions of silver bars were literally cut-off from the bars and used as
coins. The rouble was first issued as a silver piece in 1704.

RUPEE (Rupiah) (India, Indonesia, Sri Lanka, Mauritius etc.) - comes from the
Sanskrit rupa, which means "beauty" or "shape".

TAKA (Bangladesh) - the word "taka" is derived from the Sanskrit "tanka" which was
an ancient denomination of silver coin. Taka currency name was also used in North India.

YEN (Japan) - borrowed from the Chinese yuan, which means "round", and
describes the coin. First issued in 1870.

YUAN (China) - means "round" and describes the coin.

ZLOTY (Poland) - means "golden".

Frequently asked questions about Collecting Canadian Coins

How do I start collecting?
The best thing to do is just start picking up different things: coins, medals, tokens or notes that attract your attention. Also pick up a couple of standard reference catalogues such as The Charlton Standard Catalogue of Canadian Coins or Haxby's Coins of Canada. They will prove invaluable in the future. Eventually you will need a plan to organize your collection. Let this follow your interests and other hobbies. Most collectors decide to specialize in issues of a particular country or time period, or even a theme, such as trains. What you chose is up to you, there are no rules. The Canadian Numismatic Association also runs a correspondence course.

What coins should I buy?
There are three basic rules to follow: buy what you like, buy what you can afford, and buy what you consider reasonably priced. In other words, enjoy your coins, and don't pay too much for them. Your collection should be fun to own and affordable. It is an old maxim that collectors should buy the book before they buy the coin. As a rule, it is better to own one high-quality coin than it is to own several mediocre ones.

How approachable are dealers to new collectors?
Most dealers are willing to help out a new collector with advice and information but not all the time. However this is a business and their time means money. If a dealer is busy with customers then wait, or come back later. If a customer shows up, offer to wait until after they have been served. It also helps if you repay their time with a little patronage. It doesn't have to be an expensive item, but it proves that you are sincere about collecting.

Are coins and banknotes a good investment?
Yes and no. Some people have made a lot of money buying and selling coins, and others have lost fortunes. If you are serious about investing in numismatics, first spend a bit of time learning. Most successful investors were knowledgeable collectors first. A well-chosen coin collection will appreciate, but probably no better or worse than any other investment. By well-chosen we mean good quality coins purchased at reasonable prices.

I've got a bunch of dirty old coins and banknotes, how do I clean them?
Don't! Chances are you'll do more damage than good. The process of cleaning often leaves tiny scratches that will show up with a magnifying glass and lower the value of the coin. Physical dirt can be removed by careful washing with a hand soap and patting dry. Tarnish, called toning to collectors, does not lower the value of the coin. Although dips can remove the tarnish, they also remove any remaining mint lustre. The result is a coin with an unnatural appearance and a lower value.

How do I sell my collection?
It depends on the coins. Most people believe that auctions will get the fairest price, but not always. Dealers are also looking to buy coins or collections. The best thing to do is take an inventory and then contact a couple of dealers or auctioneers to see if they are interested. It is possible that they aren't. If they express an interest you'll have to make arrangements to show them the coins. If they make an offer urge them to take all or nothing. A dealer will generally prefer to take only the desirable items, leaving you with the common ones that are difficult to sell. If there's a coin show in your area you may want to take your collections there. With a room full of dealers you won't have to wait long for an answer. Once you've got some offers the decision is up to you, they are your coins. After checking out the retail price of your coins be prepared for a shock when you get some offers, there is a significant difference between dealer's selling prices and buying prices, that's how they earn a living. If nobody wants your coins don't despair, you can always spend them.

What are my old coins worth?
Although there are exceptions, most old coins are not particularly valuable unless they are very well-preserved. The best place to start is by making a trip to the reference section of your local library. There are a number of catalogues, some for specific countries. When in doubt the Standard Catalogue of World Coins or the Standard Catalogue of World Paper Money offer fairly complete lists of almost everything.

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