Learn about Currency Collecting Superblog: Aug 8, 2008

Friday, August 08, 2008

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If you do decide to clean your old coins they are best cleaned with soap and a soft cloth or you can use Vaseline or olive oil and a Q-tip. These methods can remove dirt and grime while not scratching the surface. Because gold is inert, it does not tone when it comes in contact with oxygen and so a simple surface cleaning will not usually change the coin's appearance. Silver coins, including pre-1965 half dollars, quarters and dimes, will retain the same toning (good or bad), as this kind of cleaning does not remove the surface layer, but it may remove dirt, grime, and some oils from the surface of the coin.
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How does the silver coin's edge look? If the coin edge should be reeded, and isn't (or vice versa) this is a giant red flag, since mint errors of this type are very rare. Also, if the coin has a seam around the edge, a bit of a protrusion on the edge that could be a casting sprue, or file marks indicating a sprue or seam was removed, don't buy the coin!
Buy gold coins.

On my list of "do not buy" coins is those from the Franklin Mint and other premium collectibles mints (such as the Bradford Exchange, etc.) They are aggressive marketers who do sell genuine bullion coins (sometimes) but their coins usually do not have any after-market value among coin collectors and investors. You'll typically pay $45 plus for a one ounce silver coin that is only worth the value of its silver bullion when you go to sell it. (Silver bullion is at about $19 an ounce as I write this.)
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Why clean your car's metal to keep it looking good and well preserved and not your gold or silver coins? The difference is that non-gold coins begin to tone as soon as they are minted. That is, the metal on the surface interacts with oxygen in the air, resulting in a thin layer of discolored metal. In the case of silver coins, this toning can actually add value to the coin, as some coins tone with blue, red, or even rainbow colors that collectors find desirable. Copper coins tone as well, to differing shades of red or brown, and while they are not usually as pretty as toned silver coins, they acquire an aged and natural look that collectors expect. A nicely toned coin not only looks good (in the eyes of collectors), but the tone itself can act as a preservative, keeping the rest of the coin from undergoing a reaction to the air. Coins with a good tone should never be cleaned or polished.
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gold coins collectibles News From Around The World

Dubai gold trade increases 29%Emirates Business 24/7, United Arab Emirates - 9 hours agoby Staff Writer on Sunday,January 27,2008 The total gold trade through Dubai reached $19.03 billion (Dh70bn) in 2007, an increase of 29 per cent fr

Sun, 27 Jan 2008 14:02:15 +0100
Trend News Agency, Azerbaijan -Gulf ) - The total gold trade through Dubai reached $19.03 billion in 2007, an increase of 29 per cent from 2006, according to a statement by Dubai Multi ...

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Successful Coin Collecting Format Adopted for Stamps

Tue, 03 Jun 2008 17:37:00 +0000
Newport Beach, California) – A popular way to collect coins is the basis for a new system to attract new stamp collectors and assist novices who may...

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Why I Like french napoleon gold coins

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Austria: Vienna Philharmonica golf coin. Europe's only euro bullion coin is available in the traditional one ounce, 1/2 ounce, 1/4 ounce and 1/10 ounce weights
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In general, gold becomes more desirable in times of bank failures. When dollars were fully convertible into gold, both were regarded as money. However, most people preferred to carry around paper banknotes rather than the somewhat heavier and less divisible gold coins. If people feared their bank would fail, a bank run might have been the result. This is what happened in the USA during the Great Depression of the 1930s, leading President Roosevelt to impose a national emergency and to outlaw the holding of gold by US citizens then known as Executive Order 6102 which has since been ended.
Low or negative real interest rates
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As with stocks, gold investors may base their investment decision partly on, or solely on, technical analysis. Typically, this involves analyzing chart patterns, moving averages, market trends and/or the economic cycle in order to speculate on the future price.
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There are well made counterfeit gold coins in circulation. For example, the Saint-Gaudens Double Eagle omega counterfeit is infamous for its complexity; and has fooled many numismatics experts. It is a high relief business strike, and due to the extensive wear on the die, these coins were not made for many years. For poor counterfeits, a good scale can usually tell if it's counterfeit or not; however, there are many well made counterfeited ancient coins that not only use gold, but the correct amount as well.
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Although at a quick look, gold bars may often seem the cheapest way to invest in physical gold, experts point out that there are some drawbacks. Often the price for a single one ounce bar is the same as for a single one ounce krugerrand.
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The Greatest Living Songwriter ... Macca?Minnesota Public Radio, MN - Jan 21, 2008His song "Yesterday" is listed as the most covered song in history and has been played more than 7000000 times on American television and

Sun, 27 Jan 2008 23:22:48 +0100
Edmonton Sun, Canada -Those who think history does not matter should consider that the five-masted vessel on which I voyage has been unable to use its sails because of fierce ...

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A Purist’s Lament

Sun, 18 Nov 2007 14:49:21 +0000
Photos used with permission and courtesy of Heritage Auction Galleries

You know you have too much time on your hands when you find yourself creating an Excel spreadsheet just to calculate the total number of Buffalo nickels minted from 1913 to 1938. But you can always defend yourself by telling the world you have a good ...]

Kagin’s Offers $5,000 Reward for Standish Barry Counter-marked Coin

Thu, 31 Jul 2008 16:42:58 +0000

A $5,000 finder's fee reward is being offered by Kagin's, Inc. of Tiburon, California for confirmation of the second known gold coin counter-stamped with the genuine hallmark of Baltimore silversmith, Standish Barry.

Standish Barry imitation Lima douboon gold counter-marked coin

The only coin now known with the hallmark is the unique 1735 imitation Lima 8 escudos that was found in the collection of legendary Baltimore banker, Louis E. Eliasberg Sr.

Announcement of the finder's reward was made by Donald H. Kagin, Ph.D., President of Kagin's, when he displayed the counter-stamped doubloon at the American Numismatic Association World's Fair of Money convention.

Read the rest of this numismatic news article »

Luster on US Gold Coins

Fri, 13 Jun 2008 12:25:36 +0000
By Doug Winter - www.RareGoldCoins.com
Gold coins basically come with three types of luster: satiny, frosty and prooflike. In this blog, I’m going to discuss these three “looks” and the pros/cons of each. I’ll also add an illustration of each look. And away we go…
Frosty Luster
The most common luster seen on United States gold coins, especially ...]

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The Best Information on gold silver coins

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On March 10, 1862 the first United States paper money was issued. The denominations were $5, $10, and $20. They became legal tender by Act of March 17, 1862. The inclusion of "In God We Trust" on all currency was required by law in 1955. The national motto first appeared on paper money in 1957 on $1 Silver Certificates, and on all Federal Reserve Notes beginning with Series 1963.
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The universe of coins and currency is one of the greatest portals to history available to the intelligent collector. Money has always been one of the most important things in society: it represented a store of value, provided news and propaganda and was an integral part of everyday commerce. The ability to own and collect old coins and paper money allows the collector to truly hold history in his hands, to transport himself to another time and place, and to cherish his own museum quality items.
Buy US paper money.

Buy two Krugers though, and quantity price breaks make krugerrands cheaper, and therefore a better buy. Also while it is true that larger bars, such as one kilo ones sell for a lower percentage premium than krugerrands, they are not as easy to resell. Only a specialist gold dealer is likely to give you a good purchase price for gold bars, and then often with less enthusiasm than for krugerrands, sovereigns, or other highly marketable coins
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After adoption of the Constitution in 1789, U.S. Congress chartered the First Bank of the United States untill 1811 and authorized it to issue paper bank notes to eliminate confusion and simplify trade. The bank served as the U.S. Treasury's fiscal agent, thus performing the first central bank functions.
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If numismatists - those expert in coin collecting and valuation � agree on one thing, it's that coins should never be cleaned. Every coin dealer has horror stories about a non-collector who comes into his shop with a box of shiny old coins. Most of the time, the coins have no numismatic (collector) value at all; they are just old but common coins. But occasionally, a rare former beauty is found in the mix. It's a former beauty because whatever value it once had has been scraped off by an excited finder and a jar of silver polish. The coin, which might have been worth hundreds or thousands of dollars, is now all but worthless.
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