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Collectors Article Of The Week
The True Value of a Gold Coin
By Cindy Teruya
The use of coins dates back to ancient times, and they have been with humanity ever since. Coins stayed in usage even after the world adopted paper money. Coins offer a sense of permanence and history that bills lack. This is especially true of gold coins. Coins of any material that are kept safe for a long time tend to increase in worth.
Many coins no longer in circulation are of great interest to coin collectors. Also called numismatists, these collectors love old and rare coins. Gold coins are especially popular. This is because the gold coin has a high collection value, and an even higher market value. They can be worth hundreds of dollars. Certain rare coins can be worth thousands, or even millions, of dollars. American monetary history is full of rare coins in high demand by collectors. Some of the more famous coins include the gold and silver buffalo coins, or the renowned St Gaudens Double Eagle. Coin collecting is a popular hobby, so there are many sources (in the form of books and websites) supplying information about the value of specific coins.
There are many ways to get these rare coins. Sometimes, people find them lying around the house. It's easy for someone to drop a coin and completely forget about it. Of course, the collector cannot rely on finding a rare gold coin in his or her house. Auctions are another method of obtaining rare coins, though these can get quite expensive. Perhaps the most convenient way is through a website.
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Sites like GainesvilleCoins.com carry many different types of coins. This particular website is one of the most reputable, and is sure to be a great resource for any coin collector.
Gainesville Coins is a site that sells rare and valuable coins. Coins in the site collection include silver buffalo coins, and state quarters. The serious coin collector should make a point of visiting http://www.gainesvillecoins.com.
More Gold & Silver Coins News
Gold coins have had a very long period as a primary form of money, only falling into disuse in the early 20th century. Most of the world stopped making gold coins as currency by 1933. However, gold-coloured coins (not made of real gold) have made a comeback in many currencies. Furthermore, many countries continue to make legal tender gold coins, but these are primarily meant for collectors and investment purposes and are not meant for circulation.
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Central banks and the International Monetary Fund play an important role in the gold price. At the end of 2004 central banks and official organizations held 19 percent of all above-ground gold as official gold reserves. The Washington Agreement on Gold (WAG), which dates from September 1999, limits gold sales by its members (Europe, United States, Japan, Australia, Bank for International Settlements and the International Monetary Fund) to less than 400 tonnes a year. European central banks, such as the Bank of England and Swiss National Bank, have been key sellers of gold over this period.
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A popular form of cherrypicking in coin collecting is done at coin shows, when the cherrypicker carefully scrutinizes dealer stock, looking for die varieties that the dealer has overlooked. A more low-end form of coin show cherrypicking is searching through the pick bins and junk boxes trying to find coins that are worth substantially more than the dealer asking price.
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1889 silver dollars
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