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All Posts Tagged With: "scott Travers"

Scott Travers’ ‘Survival Manual’ Now Available in Seventh Edition

(New York, NY) – 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. (more…)

Gold to Shine in Forum at World’s Fair of Money

Two leading experts on the acquisition and trading of gold coins and bullion will provide a wealth of inside information on those subjects – free of charge – during the ANA World’s Fair of Money (www.WorldsFairOfMoney.com), the year’s biggest coin show, on Friday, August 13, 2010, at the Hynes Convention Center in Boston, Massachusetts.

The experts, Scott A. Travers and Maurice H. Rosen, will be the featured speakers at Coin Collector’s Survival® Conference 2010, a 90-minute seminar that will give attendees useful information on how to “survive and thrive during the decade of gold.”

The Survival Conference will start at 10:30 a.m. August 13 in Room 200 of the convention center. Admission is free, and everyone who attends will receive a copy of one of the bestselling books authored by Travers, as well as a newsletter published by Rosen. The free books and newsletters will be vintage copies of earlier editions.

Travers is a nationally known New York City coin dealer, author and consumer advocate who has written more than half a dozen award-winning books, including The Coin Collector’s Survival Manual®, a hobby bestseller that will have its seventh edition published by Random House in November. The New York Times has described him as “the Ralph Nader of numismatics” for his consumer activism.

Rosen is a prominent professional numismatist and coin market analyst from Plainview, New York, whose influential Rosen Numismatic Advisory is recognized perennially as the outstanding newsletter in the field of rare coins and precious metals. He forecasts in the soon-to-be-published edition of the Survival Manual that “by the end of 2020, the price of gold in U.S. dollars will be $5,000 to $10,000 per ounce.”

Travers and Rosen both foresaw the tremendous advance in the market value of gold well before it began. Travers was predicting $1,000-an-ounce gold in books and articles several years beforehand, when the price was less than half that amount and barely one-third its present level of about $1,200.

Also taking part in the symposium will be Jerry Jordan, award-winning news editor of The Examiner, a newspaper in Beaumont, Texas, who wrote a series of articles exposing apparent abuses by traveling gold buyers. Jordan’s four-part series revealed that in many cases, the itinerant buyers – operating out of hotel suites – apparently offered unwary sellers a small fraction of the true value for their gold coins and jewelry.

Top 10 Most Important Coin Grading Tips

By Scott Travers – USGoldExpert.com

With the advent of independent third-party certification, many coin buyers and sellers thought all their grading worries were over.

No longer would they have to scrutinize each coin they bought and sold to determine its level of preservation. No longer would they need to concern themselves with grading pointers, grading tips, grading advice–these mattered now only to the experts at the leading certification services.

From now on, all Mint State-65 coins would be created equal, as long as they got those grades from the Professional Coin Grading Service (PCGS), the Numismatic Guaranty Corporation of America (NGC) or ANACS.

In short, buyers and sellers no longer would need to think for themselves and exercise their own common sense. This is not entirely true.

Certification services have made–and are continuing to make–tremendous contributions to standardizing and stabilizing coin-grading standards. In the process, they have dramatically reduced the risk that buyers might suffer significant financial loss because they purchased coins that were overgraded.

But certification services aren’t infallible. And though they strive mightily for consistency, they–like the coins they grade–inevitably fall short of total perfection. Some coins graded Mint State-65 by PCGS, NGC or ANACS are indeed better than others; some might even qualify as Mint State-66. Others, by contrast, might get a lower grade if broken out of their holders and resubmitted.

Over a period of time, subtle shifts in standards or in their application can result in the existence of whole groups of coins that are undergraded or overgraded relative to the rest of the coins from a given grading service.

For example, in 1994, David Hall, founder and president of PCGS, admitted on my radio program–a weekly talk show called One-Hour Coin Expert–that during its early years, his company was reluctant to assign the grade of Mint State- or Proof-68. He candidly agreed that a number of the coins graded Mint State- or Proof-67 by PCGS during that early period might well receive a grade of 68 if submitted today. And that could increase their current market value by many thousands of dollars. (more…)