0
What are three different ways to store a coin collection and what are there benifits drawbacks and expenses of each method?
Wiki User
∙ 11y ago
There are many ways of storing coins (much more than 3!), each with their own expenses, advantages and disadvantages.
You could store a coin collection in cardboard 2x2s. These are square pieces of cardboard which are coated on the inside with Mylar (a clear plastic that will not damage coins). You place the coin in the middle and staple the sides (although some are made with a built-in adhesive).
These are very cheap (only a couple of cents per 2x2) and safe for long-term storage. They can be neatly stored in boxes designed for storage of 2x2s and then placed in a vault or safe deposit box. The downside for this method is that when removing your coins you don't want to scratch the coin with one of the staples. Also, ancient and medieval coins are often very thin and may slip out of the sides of the 2x2, no matter how well you staple it.
You could store your coins in "air-tite" capsules, these are small plastic capsules close to the size of your coin with an internal insert to protect your coin from sliding around. These are a bit more expensive than cardboard 2x2s but look better. They are a bit harder to stack in a vault or safe deposit box, but will work in a coin tray or specially designed coin cabinet. The downside is the cost and the fact that you have to have the exact size for your coin or else the coin will rattle around when moved and damage your coin. While it is fairly easy to get air-tites for US Coins, many non-US coins are very hard (or impossible) to get air-tites for.
You could store your coins in what are known as "slabs". Slabs are large pieces of plastic that secure your coin within, usually slabs have a grade from a third-party grader on them. If you are looking to sell your coins in the future, it is best to get your coins graded and slabbed by NGC or PCGS (or ANACS) most of the other third-party graders are not recognized by auction houses (such as eBay) and may not grade accurately. This is one of the most expensive ways to store your collection but provides the best storage for your coin (depending on the grading service and holder you may be able to even view the edge of your coin, something not possible with air-tites and 2x2s) and can boost the resale value of your coin over selling them "raw" or ungraded. They also will verify the authenticity of your coin. This is best for rare coins or high-grade coins and not so much your worn 1964 silver quarter or your 1953 wheat penny due to the cost involved.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
How are variable expenses different from fixed expenses?
Variable expenses are those expenses which vary according to production level while fixed expenses are those expenses which have no effect of production level and remain same.
Can you deduct commuting expenses on tax return?
Only if you work in two different locations. You can deduct the expenses of getting between the locations, but not the expenses of getting to and from home.
Advantages and drawbacks of the fille du roi?
advantages : given free transportation , dowry and settlement expenses from the king disadvantages : their riches became joint property when they got married ,Had to leave homeland
What are the different types of selling expenses?
it is the FIXED and VARIABLE it is the FIXED and VARIABLE expenses only not selling expenses.JOKE.this is a GUESS.haha
What is meant by a revenue law?
revenue law is a law pertaining to the collection of taxes to cover government expenses. They collect these taxes and place them into the treasury.
Give an example of a Proof of cash?
Anything that requires money is a proof of cash.. the payment for the expenses, or anything you get through the use money is a proof of cash: buying, use of transportation expenses, paying for the services rendered, collection of income etc.
Can a collection agency charge you their attorney fees in a garnishment?
Yes, any and all expenses that the lender incurs can be passed to the customer when they are attempting to collect a debt.
What should be the reporting format MIS to the Management about the investments and gain arising therefrom periodically?
monthly information like sale,expenses, collection reporting
Is wages payable is an example of an expense?
Well, yes ...but, there are different kinds of expenses: operational expenses, such as a payroll are not the same as, say, capital expenses, such as buying a large piece of equipment. Capital expenses are writable (taken off taxes) while many operational expenses are not (marketing and advertising expenses, for example, are).-InThree21 (B.A. Business; maybe an MBA could have a better answer!)
How does the contribution margin income statement differ from the income statement used in financial reporting?
Income statement in financial reporting is different in this sense that in that income statement all expenses and incomes are shown as incomes and expenses and there is no classification of fixed expenses or variable expense while in contribution margin income statement expenses are shown in this way that separate the fixed expenses from variable portion of expenses.
What services does collegeboard offer to students?
There are a few different services to students, most of which involve helping student with expenses of college life. They help with living expenses, tuition, books and other common expenses for student if they are accepted.
What are the challenges of North Korea?
trying to get material items to different countries with the expenses
