Hobby: Metal Detecting – Sand Scoops

Metal detectorists hunting beaches or in other sandy areas definitely need to have a sand scoop. It is vital for this environment as it allows to user to easily sift through sand to find their item. Whether you’re hunting the dry sand, the surf at low tide or ankle deep in salt water you will need a sand scoop.

A major thing to consider when buying a sand scoop is will your equipment resist the harsh elements. Sand scoops generally come in plastic , aluminum , or steel. Let’s take a look at a few options.

First off we’ll look at the Garrett Metal Sand Scoop. It comes in at 10 x 8 x 6 and weighs about 2 pounds. While 2 pounds might not sound like much; do keep in mind that you’ll be lugging it around the entire hunting trip. It comes with a short handle and is incredibly durable. The shorter handle allows the user to easily sift through sand to find their item. The shovel blade itself is very sharp and cuts through the sand with ease. It comes in at under $40 and if you’re hunting the beach or any other sandy environment it is an ideal tool.

Next up we’ll check out a plastic sand scoop option. Pro Hand Held Plastic Sand scoop comes in at a very affordable $13. It measures 14 x 3 x 5.5 and weighs only 11.8 ounces. The sifting holes are specifically designed to be smaller diameter than most coins. It does not offer sifting holes on the sides though. For being made of plastic it is surprisingly durable. I would recommend this scoop if you’re only an occasional beach hunter.

Finally, let’s look at an aluminum option. Whites Aluminum Sand Scoop weighs only 1 pound and it 12.6 x 9.8 x 7.9 inches. It offers a rubber grip and a reversible handle. The reversible handle is a really great feature as it gives users to option to dig in any direction. It works well in dry or wet sand and offers sifting holes on the bottom and sides. While the aluminum lessens the weight of the tool it isn’t quite as strong as steel. Avoid rocks are other materials other than sand or risk denting the shovel scoop.

Having the proper tool for the job is ever apparent with sand scoops. Be sure to find the right job for you and your environment. Next up we’ll take a look at protective gear for your metal detector.

Hobby: Metal Detecting – Diggers and Trowels

For the beginner metal detectorist, after acquiring your metal detector the next step is finding the right digger or trowel. Do not make the mistake of buying a cheap digger. The worst thing is being out in the middle of nowhere with a lot of hits and your digger breaking. Most general use trowels or diggers are made for lightweight gardening and simply aren’t durable enough for busting roots, thick weeds, and dry dirt.

One of the most popular digging tools on the market today is the Lesche Digging Tool. It offers a serrated blade on either the right or left side. Typically right-handed users will want the serrated blades on the right side and left-handed users will want the blades on the left side. This digger is specifically made for treasure hunting. Let’s take a closer look at the Lesche Digging tool.

The Lesche Digging Tool offers a large, comfortable, plastic handle. The handle is also ribbed so it doesn’t slide in your hand while digging. The handle is also bright red so its easier to see in the dark. It also offers a handle guard that protects your hand from sharp objects. The natural stabbing motion is also a lot easier on your hands. The blade is made of aircraft-quality steel and is incredibly durable.

The Lesche Digging Tool is 100% American made. It’s manufactured in Bridgeton, NJ and comes with a 5-year warranty. Lesche has been family owned since the 1950s by Walter Lesche and family. The Lesche Digging Tool can be found online for around $45.

Next we’ll look at shovel options..

3 Rarest and Most Valuable Coins in the World

We’ve gathered 3 of our favorite rare and valuable coins from an article written by one of our favorite sites The Spruce Crafts.
Image Credit Coin News

Price Realized: $3,737,500
Date Sold: January 7, 2010
Sold By: Heritage Auctions, Dallas, Texas  (Auction #1136, Lot #2455)

Researchers widely believe that five 1913 Liberty Head nickels were struck by a mint employee in the middle of the night. They are not sure how coin dies for a 1913 Liberty Head nickel were created since Buffalo Nickels were first produced in 1913. However, five of these nickels found their way into various public and private coin collections.

Starring in one of the 1970s television series Hawaii Five-O apparently did not help this coin to increase in value. This coin was used for close-up shots for the television show while producers used a common Liberty Head nickel for action shots where the date could not be discerned. They feared the risk of damaging a rare and expensive coin was too great of a risk to take.

Auction Listing: 1913 5C Liberty PR64 NGC Olsen Specimen

$1 Million Gold Canadian Maple Leaf

Image Credit: Kitco

Price Realized: $4,020,000
Date Sold: June 2010
Sold By: Dorotheum Auction House, Vienna, Austria

In 2007 the Royal Canadian Mint produced the world’s first million dollar coin. The coin measures 50 cm (20 inches) in diameter by 3 cm (1.2 inches) thick and contains 100 kilograms (220 pounds or 3,215 troy ounces) of  99.999% pure gold. The idea for the coin was originally conceived as a centerpiece to promote the Royal Canadian Mint’s new line of 99.999% pure one Troy ounce Gold Maple Leaf bullion coins.

To date, five of these majestic gold bullion coins have been purchased by investors from around the world. The last coin to sell at a public auction sold for 3.27 million euros (USD 4.02 million) at an auction in Vienna at the Dorotheum auction house.

1794 Flowing Hair Silver Dollar

Image Credit: USA Coin Book

Price Realized: $10,016,875             
Date Sold: January 24, 2013
Sold By: Stack’s Bowers Galleries

Sold by the auction firm Stack’s Bowers in the January 2013 New York Americana Sale, this coin set the world record for the sale of a single coin. Numismatic researchers believe it was the very first silver dollar ever minted by the United States.

The United States Mint first opened in 1792, and only minted copper coins and some pattern coins for the first two years. Coin collectors have preserved this pristine example in its original mint state condition for over 200 years. It’s not very often that you come across a coin this old and in almost perfect condition.

Of the entire known population of 1794 silver dollars, this is the only example to exhibit Proof-like reflectivity in the fields. When viewed out of its encapsulation, the fields flash with an astounding deep mirror reflection, providing a remarkable contrast to the fully frosted devices. Several 1795 silver dollars have the silver plugs but also show adjustment marks. On this coin, adjustment marks are light but noted on both the obverse and reverse, primarily around the rim. The term “once in a lifetime opportunity” is seen now and again, but for this piece, it is especially relevant, according to a press release by Stack’s Bowers Galleries.

Auction Listing: Stack’s Bowers – The January 2013 New York Americana Sale Lot #13094

Source: See the full list of 10 at The Spruce Crafts ;  James Bucki

Currency

 

Image result for types of currency

 

currency (from Middle Englishcurraunt, “in circulation”, from Latincurrens, -entis), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, US dollarsBritish pounds, Australian dollars, European euros and Russian ruble are examples of currency. These various currencies are recognized stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.

Other definitions of the term “currency” are discussed in their respective synonymous articles banknotecoin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systemsfiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government’s physical metal reserves). Some currencies are legal tenderin certain political jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency has arisen with the popularity of computers and the Internet.

Early currency

Originally money was a form of receipt, representing grain stored in temple granaries in Sumer in ancient Mesopotamia and later in Ancient Egypt.

In this first stage of currency, metals were used as symbols to represent value stored in the form of commodities. This formed the basis of trade in the Fertile Crescent for over 1500 years. However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there was no place that was safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. Trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the northwest to Elamand Bahrain in the southeast. It is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency.

It is thought that the increase in piracy and raiding associated with the Bronze Age collapse, possibly produced by the Peoples of the Sea, brought the trading system of oxhide ingots to an end. It was only with the recovery of Phoenician trade in the 10th and 9th centuries BC that saw a return to prosperity, and the appearance of real coinage, possibly first in Anatolia with Croesus of Lydia and subsequently with the Greeks and Persians. In Africa, many forms of value store have been used, including beads, ingots, ivory, various forms of weapons, livestock, the manilla currency, and ochre and other earth oxides. The manilla rings of West Africa were one of the currencies used from the 15th century onwards to sell slaves. African currency is still notable for its variety, and in many places various forms of barter still apply.

Coinage

These factors led to the metal itself being the store of value: first silver, then both silver and gold, and at one point also bronze. Now we have copper coins and other non-precious metals as coins. Metals were mined, weighed, and stamped into coins. This was to assure the individual taking the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but they also created a new unit of account, which helped lead to bankingArchimedes’ principle provided the next link: coins could now be easily tested for their fine weight of metal, and thus the value of a coin could be determined, even if it had been shaved, debased or otherwise tampered with (see Numismatics).

Most major economies using coinage had several tiers of coins, using a mix of copper, silver and gold. Gold coins were used for large purchases, payment of the military and backing of state activities; they were more often used as measures of account than physical coins. Silver coins were used for midsized transactions, and as a unit of account for taxes, dues, contracts and fealty, while coins of copper, silver, or some mixture thereof (see debasement), were used for everyday transactions. This system had been used in ancient India since the time of the Mahajanapadas. The exact ratio in value of the three metals varied greatly in different eras and places; for example, the opening of silver mines in the Harz mountains of central Europe made silver relatively less valuable, as did the flood of New World silver after the Spanish conquests. However, the rarity of gold consistently made it more valuable than silver, and likewise silver was consistently worth more than copper.

Paper money

In premodern China, the need for credit and for a medium of exchange that was less physically cumbersome than large numbers of copper coins led to the introduction of paper money, i.e. banknotes. Their introduction was a gradual process which lasted from the late Tang dynasty (618–907) into the Song dynasty (960–1279). It began as a means for merchants to exchange heavy coinage for receipts of deposit issued as promissory notes by wholesalers‘ shops. These notes were valid for temporary use in a small regional territory. In the 10th century, the Song dynasty government began to circulate these notes amongst the traders in its monopolized salt industry. The Song government granted several shops the right to issue banknotes, and in the early 12th century the government finally took over these shops to produce state-issued currency. Yet the banknotes issued were still only locally and temporarily valid: it was not until the mid 13th century that a standard and uniform government issue of paper money became an acceptable nationwide currency. The already widespread methods of woodblock printing and then Pi Sheng‘s movable type printing by the 11th century were the impetus for the mass production of paper money in premodern China.

Song dynasty Jiaozi, the world’s earliest paper money.

At around the same time in the medieval Islamic world, a vigorous monetary economy was created during the 7th–12th centuries on the basis of the expanding levels of circulation of a stable high-value currency (the dinar). Innovations introduced by Muslim economists, traders and merchants include the earliest uses of credit,  chequespromissory notes savings accountstransactional accountsloaningtrustsexchange rates, the transfer of credit and debtand banking institutions for loans and deposits.

In Europe, paper money was first introduced on a regular basis in Sweden in 1661 (although Washington Irving records an earlier emergency use of it, by the Spanish in a siege during the Conquest of Granada). As Sweden was rich in copper, its low value necessitated extraordinarily big coins, often weighing several kilograms.

The advantages of paper currency were numerous: it reduced the need to transport gold and silver, which was risky; it facilitated loans of gold or silver at interest, since the underlying specie (gold or silver) never left the possession of the lender until someone else redeemed the note; and it allowed a division of currency into credit and specie backed forms. It enabled the sale of stock in joint-stock companies, and the redemption of those shares in paper.

But there were also disadvantages. First, since a note has no intrinsic value, there was nothing to stop issuing authorities from printing more notes than they had specie to back them with. Second, because it increased the money supply, it increased inflationary pressures, a fact observed by David Hume in the 18th century. Thus paper money would often lead to an inflationary bubble, which could collapse if people began demanding hard money, causing the demand for paper notes to fall to zero. The printing of paper money was also associated with wars, and financing of wars, and therefore regarded as part of maintaining a standing army. For these reasons, paper currency was held in suspicion and hostility in Europe and America. It was also addictive, since the speculative profits of trade and capital creation were quite large. Major nations established mints to print money and mint coins, and branches of their treasury to collect taxes and hold gold and silver stock.

At that time, both silver and gold were considered legal tender, and accepted by governments for taxes. However, the instability in the ratio between the two grew over the course of the 19th century, with the increases both in supply of these metals, particularly silver, and in trade. The parallel use of both metals is called bimetallism, and the attempt to create a bimetallic standard where both gold and silver backed currency remained in circulation occupied the efforts of inflationists. Governments at this point could use currency as an instrument of policy, printing paper currency such as the United States Greenback, to pay for military expenditures. They could also set the terms at which they would redeem notes for specie, by limiting the amount of purchase, or the minimum amount that could be redeemed.

By 1900, most of the industrializing nations were on some form of gold standard, with paper notes and silver coins constituting the circulating medium. Private banks and governments across the world followed Gresham’s law: keeping the gold and silver they received, but paying out in notes. This did not happen all around the world at the same time, but occurred sporadically, generally in times of war or financial crisis, beginning in the early part of the 20th century and continuing across the world until the late 20th century, when the regime of floating fiat currencies came into force. One of the last countries to break away from the gold standard was the United States in 1971, an action known as the Nixon shock. No country has an enforceable gold standard or silver standard currency system.

How to Find Silver Coins in Circulation

How to Find Silver Coins in Circulation

By Contributor

1943 Walking Liberty HalfIt is possible to find silver US coins in circulation. You rarely find them in your change anymore, but they are out there and you can get them at face value. Here’s how to do it.

Silver Kennedy halves found in 2008US quarters and dimes were made of 90% silver up until 1964. Since then, they have been made of the copper-nickel sandwich we see every day. A common silver dime is worth about $1 and a quarter is worth about $2 in melt value today according to coinflation.com. So it would be worthwhile to find them. Half dollars were also 90% silver up until 1964. Those are worth about $5 each. What many people don’t realize is that halves continued to be made of 40% silver from 1965 through 1970, and those are worth about $2 each also. All very interesting, but how do we find them?

Silver coins found in 7 boxes of dimes (17,500)The key is you have to search through a lot of coins to find the silver coins. That means that unless you access a lot of coins at work for some reason, you need to get them from a bank. No problem, just go in and ask for a few rolls of coins and search through them. A roll of halves is $10, quarters are also $10, and dimes are $5.

Silver coins can be foundYour best bets are the dimes and halves. There are a lot of dimes and quarters in circulation. A dime is small enough that you may not notice a silver one, so some slip though everyday commerce, and that’s why you can find them. Silver quarters are scarcer because they are bigger and more easily noticed. So there are not as many to find. Half dollars basically don’t circulate, but they are still made and are sitting in the banks. Since people don’t pull them out of everyday change, you can find them in bulk lots from the bank. I recommend you try some of each and see what you think. You may hear this hobby referred to as coin roll hunting by people who practice it.

50 Rolls of dimesHere are some practical tips for searching for silver coins using this method. Get rolls from a bank you have an account at. If you start asking for a lot of rolls, some banks will want to charge you a fee if you don’t have an account. The coins are delivered to the banks in boxes. You can order boxes from a teller if you want to search a lot of coins. A box of halves costs $500, a box of quarters is also $500, and a box of dimes costs $250.

If your bank has a free coin counter, that is the easiest way to return the coins after searching. If you can unroll the end and put the coins back in after searching, that is good too. If not, sometimes the bank will give you free paper rolls. It is recommended to dump the coins back at a different branch than you pick up from, just to keep the tellers happy. I brought them some chocolates over the Holidays, and they have always treated me nicely.

Proof Kennedy Half found in a bank rollYou can get some coin collecting books and try to fill them up with every date in the series. This is a lot of fun to do with your kids. You can sell the silver coins to coin dealers, but you’ll get a better price on Craigslist or Ebay.

All the silver coins pictured in this article were found recently using this method. It’s really a thrill to pick a nice shiny silver coin out of a roll. Finding silver in circulation is a form of treasure hunting that many thought was long gone.

Good luck and happy hunting!

Tip

Silver S mint coins are still made each year for Proof sets. You can occasionally find proof coins as well, they are stamped on polished dies as seen above. The picture doesn’t do it justice. They are beautiful coins. Nickels dated 1942-1945 are 35% silver also, the nickel was needed for the war effort in World War 2.

Warning

Wash your hands after searching for silver coins or any coins, they can be quite dirty.

https://www.apmex.com/education/numismatics/what-nickels-are-silver

What Gold Coins and/or Bullion should I buy?

What Gold Coins and/or Bullion should I buy?

… the ultimate shopping guide to gold and silver

This gold (and silver) shopping guide introduces you into the world of physical gold. At the end you will have an understanding of the different gold products, how to differentiate them and how to buy best value for your money.

There are two main categories of buying gold: Collectors Gold and Investment Gold.

The two main categories of buying gold: Collectors Gold and Investment Gold. 

Buying Physical Gold

Collectors’ coins also called ‘numismatic’ coins are from the Middle Age, Roman Empire or specifically minted for numismatists. The coins are very old, rare and especially traded by collector’s. These coins usually have a high premium to the gold spot price. It’s basically like a rare stamp.

CelticGold does not offer these kind of coins. All products offered in our shop are in the second category: Investment gold.

Investment gold is produced in high numbers and therefore as close to the spot price as possible. The investor is interested to buy as close as possible to the spot price.

Investment gold has in itself two categories that describe the ‘make’ of the gold product: Coins or Bullion, bullion is also called bars.

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Mints and Producers

These are the World’s most reputable producers of Gold Coins and Bars:

Gold Coins and Bars Producers

For a professional bullion dealer there are two ways to buy: direct from the mint or from one of the few largest distributors worldwide.

At CelticGold we have a lowest price philosophy and receive our products only from the largest banks and bullion dealerships in the European market. This actually allows us to offer lower rates than compared to receiving the goods directly.

A coin is always minted by a state owned mint, such as the US Mint for the Eagle gold coins or the Austrian Mint that produces the Vienna Philharmonics gold and silver coins. A coin is usually round and goes from 1 gram to 31,1 kilo.

bar or bullion is produced by private corporations and banks. The biggest companies are Heraeus in Hanau, Germany, Degussa/Umicore in Hanau, Germany, The Perth Mint in Perth, Australia and UBS in Switzerland.

A bar is usually square in shape and goes from 1 gram to 1 kilo for the private investor.

Generally is a bar due to lower manufacturing costs closer to the gold spot price and therefore a bit cheaper than a coin.

Coin Specifications: Fineness, Face Value, Purity, Weight and Fractional sizes

The fineness or purity is with the most coins and bars 24 carat or 999/1000. You will sometimes find a fineness of 999.9/1000 which is a bit higher than 999/1000 but still 24 carat.

The weights shown in our shop reflect the actual weight of the pure gold content. For example theKrugerrand contains 31.10 gram (1 Ounce) of pure gold but weighs 33.93 gram. That gives the Krugerrand a fineness of 22 karat or 916/1000. You find all this information in the product description of the gold product.

Almost all coins (except the Krugerrand) have a face value minted on the coin. A coin with a face value is automatically legal tender. This amount which is minted on the coin is the legal tender worthiness of the coin. Obviously a Vienna Philharmonic coin trading at around 1,300 Euro which reflects the value of the gold content and a face value of 100 Euro can only be described as delusional. Delusional because the real value is much higher than legal tender value. Minting a face value to the coin was invented in the 1800’s to generate more revenue for the government by accepting only the minted face value to pay for taxes.

By now you know that there is Collector’s gold and Investment gold. As a Gold Investor you go with investment gold. With Investment gold you can choose between coins or bullion, also called bars.

The worldwide most bought gold coins are: KrugerrandVienna PhilharmonicsMaple LeafAmerican Eagle and Australian Kangaroo. The coins are minted in different sizes mainly from 1/10oz up to 1oz as shown with the Canadian Maple Leaf gold coins here in this picture.

 

Maple Leaf gold coins

Find here an overview with direct links to our sortiment of the world’s most circulated coins:

1oz Maple Leaf gold 1oz Krugerrand 1oz Philharmonics 1oz Austr. Kangaroo 30g Panda
1/2oz Maple Leaf 1/2oz Krugerrand 1/2oz Philharmonics 1/2oz Kangaroo 15g Panda
1/4oz Maple Leaf 1/4oz Krugerrand 1/4oz Philharmonics 1/4oz Kangaroo 8g Panda
1/10oz Maple Leaf 1/10oz Krugerrand 1/10oz Philharmonics 1/10oz Kangaroo 3g Panda
1/20oz Maple Leaf 1/20oz Kangaroo 1g Panda
More gold coins and bars
Swiss Vreneli 100 Euro German Perth Mint Gold Bullion 1oz American Eagle  Britannia
Heraeus Gold Bullion 1/2oz American Eagle Sovereign Gold
1/4oz American Eagle
1/10oz American Eagle

 

Five types of Gold Investors – Which group are you in?

I have 10,000 Euro, Pounds, Dollars to invest– What should I buy?

When you like to convert 10,000 in paper-currency in gold, we recommend an assortment of different coins and denominations. For example:

Ten 1/10oz gold coins, such as the Maple LeafKrugerrandPhilharmonics
Five 1oz gold coins, such as the PandaMaple LeafKrugerrandPhilharmonicsAmerican Eagle
50 1oz Silver coins, such as the Maple Leaf

This gives you a nice assortment of the most renowned coins and you have different denominations as well.

Gold Investor Starter mix:

The gold investor starter is curious about the shiny metal and buys whatever he or she sees and likes. A large variety of designs, years and motives are key. Celticgold offers over 90 different investment coins, a coin for every taste.

 

The Private Trader

The private trader searches for best price ratios and likes to trade physical gold with the up and down movement of the market. Bullion is the best option here.

 

The Paper-Currency concerned buyer

The paper currency concerned buyer hedges against the devaluation of currency in the worldwide fiat-money system by buying gold and silver. The paper currency concerned buyer starts with a minimum assortment of:

100 of 1/10oz gold coins and
500 of 1oz silver coins

He or she then adds 1oz gold coins to the portfolio with adding 1 kilo bars after the first 100oz of gold are filled up with coins. This group of customers sees the need of owning silver and fractional gold coins to barter with if a crash of the banking systems occurs.

 

The Moving out of the banking system buyer

This type of buyer is mostly keen on silver but also has a focus on small gold coins. This buyer believes in a systemic crash of the banking system and hedges with the physical ownership of gold and silver against this scenario.

He or she also spreads and stores outside of the home country in different places.

As a professional bullion dealer Goldwiser specialises in helping to develop an individual solution for buying and delivery/storage.

https://www.celticgold.eu/en/gold-university/gold-shopping.html

Don’t Get Fixated On Spot Price When Buying Silver Coins

Don’t Get Fixated On Spot Price When Buying Silver Coins

Silver investors tend to check the current spot price before making a purchase of silver coins. That’s a logical starting point, as the cost for physical metal is usually – but not always – related to spot.

Don’t expect former premiums to remain in place when spot plunges. Why does this happen? Lower prices means fewer sellers, so dealers have to raise their bids in relation to spot to purchase new supplies.

I would be very thrilled to have a pre-1965 silver dime for every time I’ve heard someone mindlessly blather about how they expected to obtain silver at around spot right after prices took a substantial plunge. Since spot (a paper price) can be and is manipulated by traders, it’s not a rock-solid indicator of what the metal is going to cost in the real world. Think of spot as theory and retail prices as reality. In precious metals and life in general, reality rules and theory drools.

90% silver coinsSometimes demand for the real thing increases faster than spot prices. That means some short-term hikes in premiums. We’re not talking about a massive surge in buying, but a moderate bump in retail demand. Since there are no great hoards of physical product waiting to be dumped into the hands of the general public, these moves take place for a week or two every few years.

Web sites and chat rooms are full of people who say they will buy silver coins once the price drops a few dollars or more. Those who make such statements usually assume they will be able to obtain the metal at something near spot, but recent developments prove once again that reality stomps on theory when dealing with physical product.

Bags ($1,000 face value, or 715 troy ounces) of pre-1965 dimes, quarters and half dollars sold for three to four percent above melt in December 2012 when silver was in the US$33 range. At that time, buy prices ranged just below spot to spot.

Fast forward to now for an entirely different situation. Two bullion industry market makers are currently paying significant premiums over spot for 90 percent silver.

Even those who are willing to pay the new levels may not be able to acquire silver. “Out of stock” is a common phrase at silver coin web site listings, and the same sad news has been dispensed to many potential buyers at local coin shops and over the phone.

One small silver coin dealer obtains much of his product from a large Midwestern source. An order for $500 face was placed and accepted last week. When the buyer went to pick up his order, he was told that just $250 face was available. Since this wholesaler is known for his utter dependability, this was something of a surprise.

silver coins, bullion coinsThe supply/demand and price situation in silver Eagles and Maple Leafs is similar to what is happening with 90 percent. Premiums and prices are moving up, and those who hesitate need to get out of the way as others in line are willing to pay the going rate.

Need more proof that spot numbers are not the ultimate guide to real world pricing? What if spot dropped to $15 tomorrow? Do you think that you could obtain silver for $5 or $6 an ounce over spot? Only the delusional and uninformed would expect to find silver in such a scenario.

Spot will have less influence on the retail market as the frequent manipulation of paper prices continues and public awareness of such trickery expands. Toss in growth in demand for physical silver coins coupled with tight supplies, and precious metals buyers may have to do a little work to determine fair prices in the future.

How can a person find such information? It’s very easy in the information age. Check a few major dealer web sites to get their buy/sell spreads. When postage fees are added to the total, small buyers can do as well or better making purchases of silver coins at local shops rather than going the mail-order route.

So when is the right time to buy silver, and what would be a fair premium to pay? That’s a decision (emphasis on being proactive rather than passive) every individual has to make. Keep in mind that buying silver isn’t an all or nothing proposition.

What if someone wants to spend a few thousand dollars on the metal, but they aren’t sure about pulling the trigger? Put a portion of the funds into silver and see what develops in the future. Don’t expect to hit a home run on every buy, but a steady stream of singles and doubles will win the silver game in the long run.

Don’t Get Fixated On Spot Price When Buying Silver Coins

8 Valuable Coins That Could Be Hiding in Your Change

8 Valuable Coins That Could Be Hiding in Your Change

  
You never know what a coin might amount to.
You never know what a coin might amount to.
IMAGE: FLICKR, QUINN DOMBROWSKI
Take a closer look before you dump that handful of pennies and nickels into the tip jar — you don’t need to find a Revolutionary War-era coin to make a fortune from your change.They’re harder to find each year, but there are several valuable coins floating around that aren’t all that old. They’re often valuable for vastly different reasons — like the World War II-era coins minted from atypical metals, or double-printed pennies — but each one is easy to miss if you’re not paying attention.

Check out these eight coins that are worth a lot more than their intended value.

1. 2004 Wisconsin state quarter with extra leaf

Value: Up to $300

Find an average Wisconsin state quarter from 2004, and that will get you one-fourth of a bag of chips. Find one with either the high or low leaf error, and you can get a whole lot more.

The 50 State Quarters series ran from 1999 until 2008, with special designs representing each state. Wisconsin’s quarter came out in 2004; the reverse design features a cow, a wheel of cheese and a partially husked ear of corn lurking in the back.

765px-2004_WI_Proof
It would be too easy to make a corny joke about this coin. Too cheesy?

However, some the coins have an extra line below the front left leaf, which looks like another leaf entirely. There are two varieties you should be looking out for: the high leaf and low leaf.

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2. 1995 double die penny

Value: $20 – $50

1995ddo1liberty-435x165
1995ddo1inGOD-437x153

This penny has a double-printed obverse (heads side) that makes the “LIBERTY” and “IN GOD WE TRUST” look blurry. The error has happened before, in 1969 and 1972, and those versions of the coins are much more valuable.

3. 1942-1945 silver nickel

Value: 56 cents – $12.25

During World War II, the United States needed to save as much nickel as possible for military uses. Consequently, it started minting nickels made of 35% silver. Melting down pennies and nickels is a federal offense, but the coin might still fetch you enough for a decent lunch, if it’s in good condition.

4. 1943 steel penny

Value: 45 cents – $10

1943 Steel Penny
Pennies were made from steel in 1943 only.

IMAGE: UNITED STATES MINT

Pennies were made from steel during wartime, for the same reasons nickels were made partially from silver — steel pennies helped preserve copper for World War II. However, the switch only lasted one year.

5. Ben Franklin half-dollar

Value: $12 – $125

Franklin Half-Dollar
Easy to notice, but hard to find.

IMAGE: UNITED STATES MINT

In 1948, the U.S. mint began circulating half-dollar coins with images of Ben Franklin and an eagle — which is funny, considering Franklin opposed the bald eagle’s nomination as the nation’s bird, in favor of a wild turkey.

Franklin’s portrait on the coin was replaced by John F. Kennedy in 1964, following the president’s 1963 assassination.

6. 1932-1964 silver quarter

Value: $7 – $65

Between 1932 and 1964, quarters were 90% silver and 10% copper. These silver quarters look like any pre-state quarter 25-cent piece, but are worth a lot more if they’re in the right condition.

7. ‘In God We Rust’ 2005 Kansas state quarter

Value: Up to $100

rust
Remember: Always clean your machine.

IMAGE: ABOUT.COM

While it might seem like a mint employee’s rogue political statement, these coins are actually just the result of grease preventing a clean pressing.

8. Presidential dollar coin with lettering errors

Value: $20 – $45

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These Washington dollars are missing key inscriptions.

IMAGE: NGC

In 2007, the U.S. Mint began printing a series of dollar coins featuring presidents. Many of the early coins, especially those with George Washington, have errant or missing lettering along the edge of the coin.

 

http://mashable.com/2014/08/25/valuable-coins/#B_NvmAVLIGqw

How to Find Valuable Silver in Your Pocket Change

How to Find Valuable Silver in Your Pocket Change

The various types of hobbies that people engage in have an amazing range; from running to reading to collecting, the number of activities are endless. But finding profit in these many hobbies is not easy to do.

But if you are the man in this story, your hobby returns profit nearly every time. This nameless monetary vigilante had his son upload a video to YouTube of his hobby for the whole world to see. He buys large quantities of rolls of dimes from various banks and looks through each roll for ones minted with silver.

The reason behind this is for bullion profit. Before 1965, all dimes were made out of 90% silver by the U.S. Mint. Afterwards, the Mint began using copper and devaluing the coins.

His inspection of one roll takes only a few minutes, as he can spot a true silver dime from the rest fairly simply by looking at the entire stack grouped together. The cleaner, smoother-ridged coin that looks like the color silver – in contrast to the dirtied, more-ridged and copper-based coins – is what he’s looking for.

silver dime rolls

From Mining.com

“I am averaging one silver dime out of every $100,” the Bread Scavenger (as the video below titles him) says. But within this day’s dime inspecting within the mini-documentary, he happens to find more silver dimes than his average.

He explains that he always keeps around $300 to $400 of cash on him to buy up a bank’s dime rolls. He indicates that he only stops by these banks when he has other errands to do and does not go out of his way to collect these large bags of dimes.

After inspecting every dime, he keeps the true silver dimes and then returns the “worthless” dimes back to the bank’s coin collector, emphasizing on NOT using Coinstar (which deducts 9.8% of total amount counted in the U.S.) This deducted fee would then negate any profit he made from the silver dimes he extracted from the rolls, therefore he only uses particular banks’ coin counting machines to receive all his cash back.

This hobby may sound tedious but with training, he says, it only takes a few minutes to inspect hundreds of dollars worth of dimes.

As for profit? With every silver dime he finds, he says they are worth about $2 or higher, as the cost of silver is consistently rising. So about twenty times the dime’s face value comes from just one silver dime he finds.

“Occasionally I will find some really old ones and they will have a numismatic value over their bullion value,” he tells the camera. “It’s coin collecting and sometimes an old coin will have a higher value to collectors than they do for their silver content.”

His reasoning is simple: “If I left $100 in the bank for a year it might make a few cents in interest, but if I keep taking that hundred dollars over, and over, and over again, I could double and triple it with these silver dimes with the same hundred dollars.”

The pre-1965 dimes are made of 90% silver and 10% copper, and following the Coinage Act of 1965, the dime’s silver content was completely removed. It changed to a clad “sandwich” of copper between two layers of an alloy of 75% and 25% nickel. These new dimes that many of us possess hold no precious metals in them and with the prices of gold and silver continuing to go through the roof, any amount of precious metal you can get your hands on – especially for free like the star of this documentary– than it is 100% worth the investment.

It is said that the U.S. could actually save even more money from the Mint if they stopped minting pennies and nickels with copper, zinc and nickel and simply minted with steel. Reestablishing our coins to be made without these mined metals would save the U.S. as much as $207 million a year.

In the meantime, there are plenty of ways to personally profit from precious metals that sit in our couch cushions and piggy banks, it’s just a matter of finding them.

 

http://www.wealthwire.com/news/metals/3510

American Eagle Coin Program

American Eagle Coin Program

american eagle platinum, gold, and silver coins
In 1986, Liberty, as depicted by Augustus Saint-Gaudens, was selected as the design that would grace the obverse of the American Eagle Gold Coins. The Saint-Gaudens design first appeared on the United States’ $20, or double-eagle, gold piece in 1907, where it remained until 1933.

Like their gold counterparts, American Eagle Silver Coins have been produced and sold in both proof and bullion finishes since 1986. They have always featured a rendition of sculptor Adolph A. Weinman’s magnificent Walking Liberty design, originally prepared and executed for the half-dollar coin in 1916.

American Eagle Bullion Coins for Investors

Congressionally authorized American Eagle Bullion coins provide investors with a convenient and cost effective way to add a small amount of physical platinum, gold, or silver to their investment portfolios. The American Eagle Bullion program was launched in 1986 with the sale of gold and silver bullion coins. Platinum was added to the American Eagle Bullion family in 1997.

A bullion coin is a coin that is valued by its weight in a specific precious metal. Unlike commemorative or numismatic coins valued by limited mintage, rarity, condition and age, bullion coins are purchased by investors seeking a simple and tangible means to own and invest in the gold, silver, and platinum markets. American Eagle Gold Bullion Coins are available in four denominations: one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce while the American Eagle Silver and Platinum Bullions Coins are only available in the one ounce size.

Watch the video below to see how the West Point Mint makes a gold bullion coin.

American Eagle Bullion Coins

How to Buy American Eagle Bullion Coins

Aside from the proof version, the United States Mint does not sell American Eagle Bullion coins directly to the public. Instead, the Mint distributes uncirculated Bullion coins through a network of wholesalers, brokerage companies, precious metal firms, coin dealers, and participating banks, a network known as Authorized Purchasers.

This method provides effective and efficient distribution, which maximizes the availability of the coins in retail markets as well as major investment markets. For more information about American Eagle Bullion Coins, call 1-800-USA-GOLD.

American Eagle Bullion coins are sold based on the current market price of platinum, gold, or silver plus a small premium to cover minting, distribution, and marketing costs. A portion of this premium is often recoverable upon resale. Prices between dealers will vary. Volume discounts often apply.

American Eagle Proof and Uncirculated Coins for Collectors

The United States Mint produces proof versions of the American Eagle Coins for Collectors. The American Eagle Proof program was introduced in 1986 with the sale of gold and silver proof coins. Platinum was added to the American Eagle Proof line-up in 1997.

The term “proof” refers to a specialized minting process that begins by manually feeding burnished coin blanks into presses fitted with special dies. Each coin is struck multiple times so the softly frosted, yet detailed images seem to float above a mirror-like field. After scrutiny by white gloved inspectors, each American Eagle Proof Coin is placed in a protective plastic capsule and mounted in a handsome satin-lined velvet presentation case.

An official Certificate of Authenticity accompanies each coin. American Eagle Proof Coins sell at a fixed price and can be purchased directly from the United States Mint.

American Eagle Proof Coins

American Eagle Uncirculated Coins

The United States Mint also offers collectible, uncirculated versions of the popular gold and silver American Eagle Coins. These coins are sold directly to the public, and all American Eagle Uncirculated Coins feature the same stunning designs found on their proof counterparts.

The term “uncirculated” refers to the specialized minting process used to create these coins. Although they are similar in appearance to American Eagle Bullion Coins, uncirculated quality coins are distinguished by the presence of a mint mark, indicating their production facility, and by the use of burnished coin blanks, which are hand-fed into specially adapted coining presses one at a time.

Each American Eagle Uncirculated Coin is carefully inspected before it is encapsulated in plastic. With its pristine finish now protected, each American Eagle Uncirculated Coin is placed in a protective outer box. A Certificate of Authenticity is included with each coin.

These magnificent coins sell at a fixed price and are available directly from the United States Mint. American Eagle Gold and Silver Uncirculated Coins are only minted and sold in the one ounce size.

Content last updated on July 17, 2017

 

 

https://www.usmint.gov/learn/coin-and-medal-programs/american-eagle