Tag: coin collecting

Fill Your Christmas Stockings with Gold and Silver Coins

Gold Coins Stacked With Christmas Hat
Enough with the festive sweaters and toys that are used once or twice and then thrown in the closet to sit and take up space. This year, if you want to give a gift that will truly be appreciated, give the gift of gold or silver. A gold or silver coin can be a treasured memento or it can be an investment for the recipient’s future. Unlike some Christmas gifts that are soon discarded, a gold or silver bullion coin will always have value. They are beautiful to look at and they will last forever.

It just so happens that gold and silver bullion coins are on sale as we enter the holiday season. Market forces have driven the precious metals down to a price where they are a bargain to buy. Now is the perfect time to buy gold or silver coins as a gift for someone special. Now is a perfect time for you to accumulate precious metals to balance, diversify and strengthen your portfolio. Gold and silver prices will not stay low for long.

An 18 Trillion Dollar National Debt

Don’t think for a minute that having total public debt equal to 101.5 percent of the Gross Domestic Product (GDP) is not going to cause inflation to return. It is not a question of if but, rather, when inflation becomes a big concern. Interest expense on the national debt for the 2014 fiscal year ending on September 30, 2014, was over $430 billion. For the most recent month, November of 2014, interest expense on the national debt was in excess of $23 billion.

Those staggering numbers have serious implications. The government essentially has an interest-only mortgage and at some point, the principal must also be paid back. To service the national debt, or at least to just be able to pay the interest due, the government needs to borrow more money by selling more treasuries and bonds.

Adding to the money supply weakens the dollar so the government needs to print more money. Printing more money leads to inflation. It is a vicious cycle and there is no easy way out of the dilemma. The president cannot solve the problem. Janet Yellen and the Fed cannot solve the problem. The only thing that is sure is a return of inflation. Anyone who holds gold and silver coins or other forms of physical precious metals will be happy they do.

Central Banks Are Buying Gold

Countries around the world have been accumulating gold because they know that their currencies are being devalued. China and India, the number one and number two gold buyers are seeing increased demand for the precious metal. In Russia, President Putin has been filling his vaults with the precious metal. As economic and political uncertainty continues to plague the world, gold demand will return. First, it is the central banks, and then it is the hedge funds and institutional investors. When the general public starts buying gold, you can be certain that prices will move much higher than they are today.

Give the Gift of Gold or Silver

Make someone’s holiday season a very special one by giving the gift of gold or silver. Whether you can afford a Gold Eagle coin or your budget only allows for a Silver American Eagle coin, your gift will make someone very happy. Happy Holidays to all!

How to Find the Value of Your Gold Coins

Gold Coins

Gold CoinsJust like you wouldn’t think to sell your car without knowing how much you can ask for it, so too should you carefully research the value of a coin collection before exchanging it for cash value.  Before you sell, look into the proper worth of your gold coins.

Find The Current Price of Gold

If you happened to be lucky enough to buy gold before its spike in value during the 1970s, you’d be sitting on a mint right now, as the value of the precious metal has increased to over thirty times its original value in a single generation.  When looking at a gold coin collection, you know right away that regardless of the individual value of any coins, each one is worth at minimum the current price of the metal.  You can keep up with the raw cost of your gold per ounce simply by Googling “price of gold” to get up-to-the-minute information on the commodity’s dollar value.  There’s a difference between the price of gold and the selling price, of course — one is how much it costs to buy, the other is how much you can expect when selling gold coins — and a local coin dealer will help you understand your collection’s value and how to sell gold.  Remember that a coin dealer will give you a quote, which is simply how much they’re willing to pay.

Find The Actual Gold Weight (AGW) Of Your Gold Coins

Gold Coins on ScaleIf you’ve heard the expression 14- or 24-karat gold, you may know the difference in consistency and quality of gold.  When you sell gold, you sell it by its purity as well as its weight, and the closer a coin gets to 100% gold, the higher its value.  If you’re wondering how to sell gold coins, start with the actual gold weight (AGW), which is simply the raw weight multiplied by the purity. It’s easy to weigh a coin (a kitchen scale will do just fine), though a gold dealer will use a much more refined scale for the exact weight of the coin and it’s purity. Finding the purity, on the other hand, requires a bit more research. Check out online databases of coin values and purities and search by year, mint mark, and style of the coin.

Find the Melt Value of Your Gold Coins

Melting Gold CoinsIf you were to melt down your gold coin collection, how much would be pure gold?  Perhaps not as much as you think: many gold coins are “cut” with low-value metals; zinc, for instance, costs a mere six cents per ounce — it would take two million ounces of zinc to equal the value of one ounce of gold.  Your gold coins are worth their melt value, or the pure gold left over after melting the coin and removing other metals.  When you sell gold, you often sell by the spot price (its current value as a security on the marketplace, determined as a value at any time) per troy ounce (a unit of Imperial measurement used for metals) multiplied by AGW.  Those wondering how to sell gold coins that are old or even ancient should know that the intrinsic or historical value nearly always outweighs the melt value — never settle on the melt value if the coin is old.  Nevertheless, the melt value is always the lowest you should accept.  Coin databases like NGC’s often contain the melt value of common gold coins.

Find the Blue Book Price

Coin Blue BookJust like there’s a blue book price on a 2003 Toyota Camry, so too is there a blue book price on popular gold coins.  The blue book is a starting guide on where to sell gold coins because it offers a wholesale price benchmark that’s used by nearly all coin dealers.  Check the blue book price and you’ll see the best place to sell gold based on how much more they offer you than the listed sum.

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Find the Red Book Price

Coin Red BookSimilar to the blue book, the red book helps when selling gold coins by providing information on individual coins rather than the wholesale price: if you find a coin listed for $100 in the red book but on sale for $10, it’s a great deal.  By contrast, a coin listed for $15 in the red book but on sale for $10 may just be the dealer trying to clear out inventory.  The red book helps to determine insurance premiums for very rare or valuable coins by calculating the specific price for one coin.

Shop Around

Would you sell coins to the first offer if you wanted to maximize their value?  Unless you have the supreme good luck to find an astronomically high sale value on the first time, the obvious answer is that it pays to shop your coins around.  A reputable gold coin dealer will give you a quote for the coin’s sale value and help calculate the melt value in order to know how much it could be worth to the right dealer, which will give the best offer and be the best place to sell coins.  Where to sell gold depends on the buyer: it’s rarely the best choice to take your gold coins to “We Buy Gold” shops and pawn shops, since they profit from unsuspecting customers (or customers in need of a quick buck) and have a tendency to lowball a coin’s value.  Nevertheless, asking around at various pawn shops may give you a starting idea for how much you can ask for a coin.  The process of selling other precious metal coins made of silver, platinum, or palladium is no different than selling gold: you can nearly always sell gold and silver coins to the same dealer.

Conclusion

Selling your coins can be a fun and educational experience, especially since many coin dealers are eager to talk about the specific value of a coin or compare it to others that they have traded.  By doing research ahead of time to find a coin’s value, you can better negotiate a favorable price that leaves you with more cash in your pocket.  If you are interested in selling your coin collection, SBC Gold has the knowledge and expertise to help determine an honest price.

Buy The 2014 Baseball Hall of Fame Curved Silver Dollar

The First Curved Coin Made By The U.S. Mint

MS70 Baseball Curved Coin
Earlier this year, the U.S. Mint collaborated with the National Baseball Hall of Fame and Museum to produce the 2014 National Baseball Hall of Fame silver dollar (as well as both a gold & a clad half-dollar). These coins were created to commemorate the Hall of Fame’s 75th anniversary. The 75th anniversary is an important one, as it is also known as the diamond anniversary. Diamond is commonly used to describe the shape of the baseball field.

The coin’s design was selected after a nationwide competition. According to the U.S. Mint, “the obverse (heads) glove design was inspired by a well-loved and well-used family glove. Inscriptions on the obverse are Liberty, In God We Trust, and 2014. The reverse (tails) design depicts a baseball similar to those used by Major League Baseball. Inscriptions are United States of America, E Pluribus Unum, and One Dollar.”

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Demand

The U.S. Mint introduced these silver commemorative coins at a price of $51.95 on March 27, 2014, and on April 28, 2014, the price was raised to $56.95. Just 400,000 total 2014 National Baseball Hall of Fame Silver Dollars were minted, with a household order limit of 100 coins. According to Mint News Blog, by April 9, the U.S. Mint had posted a “waiting list,” indicating that all silver dollar coins had been sold. Collectors on the waiting list would only have their orders filled in the event of an unlikely cancellation.

Mint News Blog reported on April 21, 2014 that, “the figures for the silver dollars indicate total sales of 262,091 proof and 137,909 uncirculated coins, accounting for the entire 400,000 maximum mintage. The figures represent a split of 65.5% proof and 35.5% uncirculated coins.”

Where You Can Still Buy The 2014 Baseball Hall of Fame Silver Dollar

Coin collectors who have missed out on this opportunity earlier in the year can still buy these silver curved coins from a small number of coin dealers. As of today, SBC Gold still has a limited supply of the first batch of these silver coins. Currently, we have in stock, the first strike 2014 National Baseball HoF silver dollar proof coins that are graded by PCGS at a MS70. MS70 is the highest possible grade, which makes these perfect proof coins highly sought after by coin collectors.

2014-national-baseball-hall-of-fame-silver-coin2

To order this curved coin, please call: 1-888-812-9892.

Why Are Non-Mint 1889 CC Morgan Silver Dollars Worth So Much?

1889 Carson City Morgan Silver Dollars

1889 Carson City Morgan Silver Dollars

While many mint state or proof Morgan silver dollars sell at auctions for thousands of dollars, the value usually drops to a figure much closer to just the melt value of the silver for circulated coins. That is even true of AU (Almost Uncirculated) examples that retain all of their details. Typically, coins gain value because of their rarity or condition, but some coins might benefit more from one than the other.

In the case of one MS-68 Morgan CC, the auction price benefited from both scarcity and condition. It might be somewhat surprising to learn from Coin Update that an MS-68 1889 CC Morgan silver dollar sold at auction in 2013 for almost $900,000, but it was the finest example of its kind that had ever been found, and this date and mint mark are extremely rare in all conditions.

It is interesting to note that a previous sale of that same coin, in 2009, collected $531,875, but that was right in the middle of the Great Recession when many collectable coin values were depressed. Still, the auction value of this coin increased dramatically in less than five years.

How Valuable are Circulated 1889 CC Morgan Silver Dollars?

However, collectors might find it even more surprising that even some circulated Morgan silver dollars, engraved with that rare date and mint mark, sell for thousands of dollars. This high valuation might also be somewhat disappointing for collectors who want to complete a set but lack the budget for very expensive coins.

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Consider recent price guides for these Morgan dollars:

  • Even in G (Good) condition, the NCG price guide says that these coins could sell for over $500.
  • The Morgan’s silver melt value is about $16 right now.
  • In almost uncirculated (AU) condition, the price guide suggests selling these coins for between $6,850 and $18,500.

Compare these prices to the 1889 O and S Morgan dollar in similar condition. NCG states that an 1889 S in G condition might sell for $29, and an AU-58 might sell for $43. Similarly, an O mint mark might be worth $29 in G condition and an AU worth about $40.

It’s not just the Carson City mint mark raising the value either. Of course, the CC tends to inflate the value of a Morgan silver dollar from any year that mint produced silver coins. If you try to buy an 1890 CC Morgan, for example, you might pay about $75 for a coin in G condition and $360 for an AU-58.

What’s Special About the 1889 Morgan CC Silver Dollar?

1889 Carson City Morgan Silver Dollar CoinThe Carson City Mint had been closed for four years before 1889, and it did not open until the third quarter of that year. Because the mint had been closed, crews had to clean the offices and machinery before production could begin. That year, the mint only produced 350,000 coins, and all of these coins came out in the last three months of 1889.

Additionally, according to estimates, only 100,000 to 25,000 of these dollar coins avoiding getting melted down for silver. Most of the few remaining coins got heavily circulated, and many of the existing examples have damage. Any examples of 1889 CC Morgan silver dollars are scarce, but typical examples have grades of VF or worse. Many have damage.

Even though these coins are silver, if you find one in decent condition, it’s likely that you just struck gold.

Why Consider Owning a Silver Coin Like This?

1889 Morgan Silver Dollar CC CoinThe current economy inspires many investors to look for alternative investments. Nationwide, more people than ever seem to invest big dollars in collector’s items such as rare coins, rare cars, rare artifacts and rare artwork. The top end of these markets has been flourishing because of big money investors scrabbling for tangible assets.

The reason these investors are so attracted to these kinds of purchases is that their value is recognized in any economic climate. Even during the German invasion of Europe in WWII, the riches that were the most sought after by the Germans were not only Europe’s gold, but also Europe’s rare art and artifacts.

So, if you have never considered owning coinage that has immense value because of its recognized rarity, perhaps you should now. You don’t need to be an expert to participate in rare coin investing, you can contact Scottsdale Bullion and Coin and have a Precious Metals Advisor show you how to get involved and what types of coins have the best chance for future returns.

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Rare Gold Coin Collection Sells For Record $10.7 Million

Rare 1880 $4 Coiled Hair Stella Gold Coin

Rare 1880 $4 Coiled Hair Stella Gold CoinBonhams announced that the “Tacasyl Collection of Magnificent United States Proof Gold Coins” sold on September 23 for a total of $10,778,040. Each of the 27 lots was sold, with an average price of $399,186, which represents a world record for a rare coin collection on a per lot basis.

The 1880 Coiled Hair Stella sold for a breathtaking $2,574,000, more than doubling the presale estimate. Hence, this gold coin is now one of the most expensive coins ever sold at an auction, such as the 1933 Double Eagle, the 1794 Silver Dollar, 1804 Silver Dollar, 1913 Nickel and Brasher Doubloons. The 1794 Silver Dollar, called the Flowing Hair Silver Dollar, brought a total of $17.2 million last January.

Other major sales from the Tacasyl Collection included an 1879 Coiled Hair Stella that fetched $1,041,300, an 1880 Flowing Hair Stella that sold for $959,400, and an 1855 Type 2 Gold Dollar that brought in $397,800.

 

Story Source: FoxNews.com 

Rare 1880 Gold Coin Could Sell for $1.5 Million

Rare 1880 $4 Coiled Hair Stella Gold Coin

Rare 1880 $4 Coiled Hair Stella Gold CoinToday, September 23, the auction house Bonhams in Los Angeles, CA, will be offering 27 valuable gold coins, among them a very rare $4 gold coin known as the Coiled Hair Stella. This coin was minted in the U.S. in 1880 and is valued at up to $1.5 million. The front of the gold coin features the profile of Lady Liberty with her hair tightly coiled on top of her head, while the reverse side shows a star with the inscriptions “ONE STELLA” and “400 CENTS”. The Coiled Hair Stella coin contains six grams of pure gold.

Paul Song, director of rare coins at Bonham reports that the 1880 $4 Coiled Hair Stella is one of the finest and rarest items in the coin-collecting world. It was initially designed to match the weight of coinage in countries in the Latin Monetary Union (LMU) like France, Belgium and Switzerland, to make trading in Europe easier. However, the coin and the prospect of joining the LMU were rejected by Congress, but not before a few hundred coins had already been struck.

Since the Coiled Hair Stella never circulated, they are exceedingly rare. Song states, “They are so rare, they come on the market maybe once or twice, at most, every decade…That particular gold coin, there’s only 10 or 12 now, and most of these are in public institutions or private collections.” Moreover, Bonham emphasizes the exceptional craftsmanship of the coin: “The braided plait on top of Liberty’s head is delicately and intricately engraved, and the portrait of Liberty is fully modeled and has a distinct individual personality. “

In addition, the auction will sell 26 other gold coins worth up to $8 million. “That’s an average lot value of almost $300,000 per coin. That may not be a Monet painting but in my world, that’s pretty amazing. It’s been a privilege to handle them, and they are gorgeous, just because they’re gold, perfectly struck and the designs are really incredible,” Song adds. All coins are available for public viewing from September 20 to 22.
 

 
Story Source: Reuters.com
Image Source: NGC