Brief Numismatists News
One of the reasons there is such a disparity between what the average consumer expects, and what the coin dealer actually delivers when it comes to buying coins from the public is that coin dealers see vast amounts of common "junk." By "junk" I mean common date wheat pennies, circulated Buffalo Nickels and Mercury Dimes, worn Washington Quarters and circulated Franklin and Kennedy Halves. Coin dealers are offered so much of this type of material that many of them get tired of seeing it. They give such material the cursory once-over and offer low-ball prices for it based on long experience. Usually people have already pulled out the more valuable coins, leaving the "junk," (or at least the the dealer must assume so.)
Buy gold coins.
A general rule of wholesale coin pricing is that the more valuable the gold coin is, the smaller the profit margin needs to be, percentage-wise. If a coin will sell for $15,000, a dealer can make a nice profit if he buys the coin for $14,000, but he might have this coin in is inventory (and his investment in it tied up) for a long time before someone who can afford $15,000 a pop for coins comes along.
Buy gold coins.
For most of history, coins were valued based on the precious metal they contain. Whether a coin is made by who it appears to be was of secondary importance compared to whether it contains the correct amount of metal, that is, right weight and fineness. Genuine appearance was simply a convenient shortcut to avoid time-consuming tests in everyday transactions.
In the mood for buying rare gold coins? Visit our store.
The Latest silver dollars value News
Is the U.S. Mint Running Out of Coins?
Is the U.S. Mint running out of coins? Surprisingly, the answer is, "yes!" As many collectors are aware, the Mint has had trouble keeping up with demand for...
I was wrong on NGC Presidential Dollar "First Day of Mintage" designation - I like it!
Mon, 16 Apr 2007 23:04:00 +0000
Gold Bites at $700, Platinum Drops to 4-Year Low
Thu, 23 Oct 2008 20:42:02 +0000
Gold and platinum were dragged under Thursday, as fund liquidation and a rising U.S. dollar provided no mercy. Gold touched below $700 for the first time since September of 2007 and platinum tumbled to its lowest level in more than four years. New York gold and platinum futures plunged 2.8 and 5.2 percent, respectively. Silver ...]
Fiji Reserve Bank Clarifies Coin Eliminations
Mon, 20 Oct 2008 15:14:49 +0000
View Larger Map of Fiji
The Reserve Bank of Fiji’s new awareness campaign promoting the modernization of coins and the elimination of the one and two cent coins began in September and was further clarified Friday by Governor Savenaca Narube.
The issuance of Fiji’s two smallest coins ceased as of ...]
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Labels: us gold and silver coins | very rare gold coins
