February 12th, 2012 — Bullion, Coin Collecting, Silver Bullion Coins, US Coins
American Silver Eagles have been minted in the United States since 1986. These are the official silver bullion coins of the United States, guaranteed to contain one troy ounce of silver that’s 99.9% pure. A troy ounce is actually slightly heaver than a typical ounce of weight, because it’s not measured by weight but rather by grains. A grain is a unit of measure used where absolute precision is crucial, as in archery to weigh arrow heads, and in ballistics to weigh powder and bullets. An ounce is between 28 and 29 grains, and is a very specific number that goes out to 9 decimal places. A troy ounce is over 31 grains, in a number that goes out to 7 decimal places. A troy ounce is the measurement always used for black powder, precious metals and gemstones.
Silver Eagles have their one troy ounce weight and silver content certified by the United States Mint, and are authorized by the US Congress. A proof version of these coins is produced specifically for collectors. These coins have been produced by three mints. Coins marked with a P were minted in Philadelphia, with earlier coins bearing an S for San Francisco and the most recent silver coins marked with a W on the reverse side, which stands for West Point.
The front or obverse of Silver Eagles is based on the “Walking Liberty” design that appeared originally on half-dollars minted between 1916 and 1947. Designed the Adolph Weinman, it became a favorite and one of the best-loved coin designs in American history, so it was chosen for the Silver Eagles. The back or reverse of the coins feature a heraldic eagle.
The face value of Silver Eagles is $1, but the silver content causes the value of these coins to vary with the markets. Because of the different minting, it’s best to look into reference books to find the value of any coins you’re interested in purchasing. Because these coins have been struck in such huge numbers, the value is often not as high as one might expect, even for proofs. Most can be purchased for $25, with that number fluctuating along with the silver market prices. Some years with lower minting can go for over $100, and the boxed anniversary set issued in 2006 that went for $100 each now commands over three times that, because only 250,000 were created. Some rare dates can cost thousands of dollars, but without an up to date reference book it’s difficult to know which are more valuable.
When looking at Silver Eagles do your research and become familiar with the more rare coins, and those which can be found almost anywhere. As with most things, eBay is an excellent source for Silver Eagles of the more rare varieties. One good strategy for investors is to buy the current year’s Silver Eagles and work your way backwards through the years. This can make the collecting more fun and interesting, and give you time to investigate the more valuable minting and dates.
Originally posted 2008-12-14 14:00:32. Republished by Blog Post Promoter
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October 21st, 2011 — Bullion, Coin Collecting, Palladium Coins
Palladium coins are extremely rare and they are one of the most valuable types of money that you can collect. If you have never heard of palladium before, or if you are curious as to what these coins are, there are a few things you should know. First, palladium is a type of metal that was discovered in 1903. It is very light in color, almost a silver/white shade. The man who discovered it, William Hyde Wollaston, named it after the giant Pallas, who according to Greek mythology, was slain by the goddess Athena.
This form of metal is considered to be a subset of the platinum group, making it very rare. Palladium is often used for coinage and bullion due to the fact that it melts very easily and is much easier to work with than other members of the platinum group. Coins made of this metal will resist tarnishing well and make wonderful display pieces since they are not as affected by open air as other metals.
Many countries have minted palladium coins, and strangely enough, Tonga was one of the first to do so. In 1967 they produced a run of these coins and collectors that are seriously involved in precious metals will always try to find at least one of these coins. However, the most collectible palladium coins in the world are the ones that were produced by the Soviet Union. Other countries that produced palladium coins include Canada, France, and Slovakia.
In addition to Russian varieties, there is another extremely rare palladium coin that is difficult to find. The Royal Canadian Mint produced what they called the Big Bear and Little Bear Constellation coins, with a run of only 1200 coins total. This is considered to be one of the smallest runs in the history of recent coin making. There are a total of four different coins in this run, and each one corresponds to a specific season. Collectors that can get their hands on these are considered to be very lucky.
When you’re shopping for palladium coins, there are a few things to remember. First, the dealer should be reputable. If you are dealing with an unknown, there is always a chance for fraud. Always ask for certification, references and do your due diligence before spending money. If a palladium coin is priced well below the current market value for palladium, this is definitely cause for concern. Remember, if it’s too good to be true, it probably is.
In addition to these steps, if you are dealing with a serious investment in a palladium coin, we highly recommend having a third party appraise the piece. This can help you determine the actual value of the coin and the appraiser will be well trained to spot any potential errors that may indicate that the coin is not legitimate. Don’t sink any money into palladium coins unless you are certain that they are authentic. Otherwise, you may find out too late that your investment is worthless.
Photo Credits: pandaamerica.com
Originally posted 2008-09-15 05:00:53. Republished by Blog Post Promoter
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