February 2nd, 2012 — Coin Collecting, Silver Bullion Coins
People buy silver bullion coins for a few different reasons. Some buy them because of the precious metal content as an investment and buffer against inflation. Some people buy them because they fear that one day our popular currency will become worthless, and they want to be prepared with the only kind of money that would likely be worth anything in that case. They know they could use gold and silver coins to barter for goods and services if paper money were repudiated. And some buy bullion coins because they’re coin collectors and they want to add these brilliant pieces to their collections.
If you want to buy silver bullion coins for investment purposes, then your true investment in the silver lies in not how many coins you buy necessarily, but how many ounces of silver you end up owning because of those coins. In this case, it doesn’t matter if the coins can be used as currency, so foreign coins which contain high amounts of silver are as good an investment as United States coins, or vice versa, depending on where you live. The age of the coins is irrelevant, too.
Silver bullion coins minted since 1965 contain stamps showing the purity of the silver within them and the silver coins pre-dating this do not, but that makes them no less valuable as an investment. Many people think the only silver bullion coins used in the US are dollars like the 1 ounce American Eagle, which is a popular collector’s coin. But before 1965, several types of coins contained 90% silver, like dimes, quarters and half-dollars. These and coins like the American Silver Eagle, which contains 1 ounce of pure silver, are a good investment and in a worst-case scenario where the value of paper money dropped substantially, these coins could be used as money.
Survivalists who invest in silver bullion coins typically purchas as many coins dating since 1965 as possible. They believe that it’s likely that one day our money system will collapse and the only real currency that one could survive on would be silver and gold bullion. Since the silver content is stamped on each coin produced since 1965 showing that it’s an ounce of pure silver, they believe that it will be easier to get people to accept those coins as payment in the event of a financial collapse. For these purposes, they’ll typically buy $1000 face value bags, or bags in smaller increments, rather than individual coins.
For collectors, the earlier coins are often considered junk coins, because they have little numismatic worth. Silver bullion coins for collectors are typically silver proofs or coins in Brilliant Uncirculated condition, only if they really want the coin and can’t acquire a mirror-like proof. If you’re looking on eBay for collector coins, a popular place to find them, you’ll need to do some research on the individual silver coins so you can tell the difference between BU and proofs, as often they look similar.
Photo Credits: hardwarehank
Originally posted 2008-10-27 14:00:50. Republished by Blog Post Promoter
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January 15th, 2012 — Coin Collecting, Foreign Coin Collecting, Foreign Currency
If you are a serious coin collector you will probably start to look into foreign currency for your coin collecting ventures. There are plenty of coins to be had, both new and old, when looking into foreign currency. Paper currency also plays a large an important role in foreign monies, making for plenty of opportunities and possibilities with your collection.
There are a couple of different things that you are going to want to look for when looking at foreign currency for your own collection. Taking the time to think about coin collecting and this currency will help you to better understand how to collect it and how to obtain it.
Counterfeits
It is important for you to stay well versed in foreign currency counterfeits as you work to add foreign coins and foreign paper money into your collection. It is easy for collectors to fall to counterfeits because they are not familiar with the money. This is not the currency you are used to, making it hard for you to easily identify any potential counterfeits. There are plenty of research sites that will make it easy for you to correctly identify true and authentic foreign currency pieces of interest.
Personal Interest and Intrigue
You need to feel something resembling a connection with the foreign currency that you are trying to collect. You don’t want to get into coin collecting just for the sake of having multiple coins – you want to feel a connection to all of the different pieces that you own. If you are not interested in or intrigued by a piece, do not add it to your collection.
Rarity
There are some pieces of foreign currency that will catch your attention that are currently produced, and others that are rare. Look for rarity as you collect but do not rely on it. Simply understand how rare the price is to have a better understanding of exactly how much the piece will cost.
Cost
Finally, you are going to want to look into the cost of the foreign currency that you are looking into. You want to know exactly how much it is worth and how much you are willing to pay for it. You want to make sure that you are making a smart decision and that you are not paying too much for the coins you are interested in.
It is important for you to look into each one of these different aspects of money collecting when looking into foreign currency. You may decide to stick with coin collecting or may branch out into paper money collecting. You may decide to stick with one particular foreign country, or to open up your collection to the world. There is truly no wrong way to start to approach collecting a foreign currency. You simply need to look for these various things and give serious thought to your collecting before you begin.
Photo Credits: CanadianAEh
Originally posted 2011-05-09 03:14:48. Republished by Blog Post Promoter
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December 21st, 2011 — Coin Collecting, Foreign Coin Collecting, Foreign Currency
Foreign currency is incredibly interesting to collect simply because of the incredible variety provided by the world. Each company produces incredible currency that is known for being unique and beautiful. The mass of the money for these countries creates an incredible bank from which to start collecting from. If you are thinking about coin collecting or paper money collecting of foreign currency you need to make sure that you are on top of your game. Take the time to think about how to collect foreign currency to ensure that you have the best professional collection possible.
Visit the Countries
If you want to get the currency of foreign countries you are going to want to try to visit as many of these countries as possible. This gives you a clear and easy way to collect the current currency without having to pay any fees to those who have traveled for you. You will also be able to find plenty of shops that offer the various types of currency that you are interested in. This simply makes it easier to find some of the older and more historic foreign coins.
Make some Friends
If you do not travel often make friends with those who are coin collectors who often travel to foreign countries. You may be able to get them to purchase some coins for you without having to pay them an extra fee. Even if they charge a small fee, it will make it easier and cheaper for you to get the coins that you are interested in.
Check Local Stores
Local coin collector shops are going to have the foreign currency that you are looking for more often than not. Our global world and economy has made it easier for individuals to collect currencies from various parts of the world. If you do not travel and do not know anyone who travels, fear not – you will still be able to find strong foreign currency.
Do Not Overpay
If you are going to collect foreign currency like a pro you are going to need to know when to say when. You do not want to overpay for foreign currency, even if it is harder to find. Be sure to know the value of the currency you are looking at. Be sure to consider in some type of fee for the fact that the currency is foreign, but nothing that should completely change the price bracket of the piece that you are looking into.
There are various things for you to take into consideration as you think about collecting foreign currency. You are going to want to make sure that you do not overpay for any of the currency that you find, and that you have friends who can help you to get that currency. You will be able to avoid the incredible fees some charge for this money while still creating a professional, large collection of foreign currency.
Photo Credits: seriykotik1970
Originally posted 2010-12-20 03:45:41. Republished by Blog Post Promoter
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October 7th, 2011 — Ancient Coins, Coin Collecting, Gold, Gold Coins, Gold Eagle Coins, Rare Coins
Gold is one of the most popular substances in the world, and rare gold coins are highly sought out by collectors, not just for the precious gold content, but because of the rarity of the coins and the designs themselves. How do you know if a gold coin is actually rare, or just old? First of all, if you’re shopping in online auctions, which is actually a good place to find coins, decide that you won’t get too excited by every auction that claims its coins are rare.
“Rare” is actually a flash-word in online auctions, designed to get people to view the auction. If you browse the site a while, you’ll find items listed as “rare” and “hard-to-find” that you can probably purchase anywhere with very little effort. This practice has made the word rare almost meaningless on eBay and other online sites. So to find truly rare gold coins, you’ll need to do a little research on the coin that’s offered in the auction, as well as into the seller’s past auctions.
Have a look at the seller’s feedback. Does every auction represented there shout “Rare!” from the rooftops? Also, you can search on the specific coin that’s offered to see which others sellers offer it and what they have to say about it. Then you’ll want to research the coin online to find whether its truly rare, or the use of the word was just an advertising tactic. Truly rare gold coins won’t be found in hundreds or sometimes even dozens of auctions at one time, because of their rarity.
Even reputable online shops that deal in gold coins will exaggerate the use of the word “rare.” If you search on “rare gold coins,” for instance, you’ll come up with hundreds of dealers that don’t really happen to have any rare gold coins for sale, but newly released ones. They’ve simply used “rare” as keyword to rank higher in the search engines when someone’s looking for a rare coin, in the hopes of attracting that customer’s business with their new coin selection.
Your own interest in rare gold coins and a little time spent searching can help you find the right coins. You’ll also get a good idea of the price you should pay for one, judging by the median amount charged by many different dealers. Also do a search on eBay for closed auctions that featured that item, and you’ll see about how much you might end up paying if you should purchase from an auction.
Some of the most rare gold coins from the United States were minted before 1933. Liberty gold coins minted throughout the 19th century, and the Saint-Gaudens gold coins and Indian gold coins minted from the early 1900s to 1933, are some of the best rare coins available today. They’re prized, not just for their gold content and their rarity, but their beautiful designs, with the Saint-Gaudens considered one of the most beautiful American coins minted to date.
The business of buying and selling gold can be profitable, and is one you might be interested in getting into.
Originally posted 2008-11-14 05:34:49. Republished by Blog Post Promoter
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