How to Buy Gold Bullion Coins
December 19, 2008
One of the first things you need to know about buying gold is what do you specifically have in mind. Do you want a 1 Gram Troy Ounce 999.9/1000 24 Karats Pure Gold Bar or The St. Gaudens $20 Double Eagle gold coin? Each of these is different to particular types of investors and collectors. Get familiar with the details and specifications of gold.
Once you have done some research on the different types of gold to buy you will find that the most common form of gold bullion are the one troy ounce gold coins. The most frequently sought after coins are the American Eagle, the American Buffalo, the Canadian Maple Leaf, the South African Kruggerand, the Australian Philharmonic, the Mexican Pesos, and the Chinese Panda.
Gold coins are graded as with any item of value is graded. Whether it is diamonds, real estate, or automobiles. Gold coins have the Very Fine (VF), the Extra Fine (XF), and the Almost Uncirculated (AU). These coins have slight wear, but to the untrained eye they don't appear to have any wear at all. They usually are in beautiful condition. The real rare, high Mint State (MS) are for collectors only, not for people looking for wealth preservation. So be sure to know if you are a gold coin collector or investor. You could pay a hefty premium for these grades of coins.
Gold Coin Collecting Supplies: Keeping Your Collection Pristine
December 12, 2008
Your gold coin collection is one of your favorite things to display and show off, not to mention an investment. Because of the pride factor and the investment factor, it’s important to keep your collection in perfect condition. That’s part of collecting valuable objects. If you are a new gold coin collector and unsure about what you need to keep your collection in top-notch shape, here are the supplies you’ll need:
• Gold coin cleaner – Now before you go out and purchase something that calls itself coin cleaner, remember gold can very easily be damaged. Abrasives, harsh chemical and lots of rubbing will damage your gold coins. If you must, clean them in warm soapy water and pat dry with a gentle cloth – that’s your gold coin cleaner.
• Latex gloves – your body oils can damage gold coins. It’s best not to touch them without gloves
• Airtight display containers or cases – Airtight containers will protect your gold coins from outside pollutants and come in ring frames, boxes and albums.
• Coin envelopes and cardboard or Mylar holders, if you are not using air tight containers. Make sure they are acid-free.
Gold Eagle Coin Collecting Guide
December 4, 2008
Avid collectors of anything, whether it’s gold coins or antique dishes need a collecting guide. Why is this important? Well, for several reasons. Maybe the most important reason is so that the collector won’t make purchases of “collectables” only to find out later that that collectable wasn’t really a great investment. Now, with gold coins, the investment is probably always pretty good because gold is so high in value. But you can make wiser choices even among gold coins.
If you are a collector of the Gold Eagle coin, for example, you want to know what to look for. It’s important to know what years are most valuable, which production runs are the most highly prized. Is proof more valuable than uncirculated or the other way around? Gold coin collecting enthusiasts will benefit from having a good guide so that they know what to look for with each coin, not just the Gold Eagle gold coin. A gold coin collecting guide will also help you in terms of knowing what price range you should expect to find your coins in.
Another benefit of a good guide is that it will give you information on how best to take care of your valuable gold coins – how to store them, clean them and so on.
$10 Indian Head Eagle Gold Coins - 1907 to 1933
October 16, 2008
The $10 Indian Head Eagle gold coin, also know as the $10 Eagle, minted from 1907 to 1933, is considered to be one of the most beautiful American gold coins produced by the U.S. Mint. Its production came about through the insistence of President Theodore Roosevelt. He did not like the current design on his Inaugural Medal that was designed by Charles E. Barber and George T. Morgan, nor other coins being produced by the mint at the time.
The President had some artistic friends who encouraged him to have it re-done. "I think our coinage is artistically of atrocious hideousness," President Theodore Roosevelt wrote in a note to Secretary of the Treasury Leslie Mortier Shaw on December 27, 1904, and then continues, "Would it be possible, without asking permission of Congress, to employ a man like Saint-Gaudens to give us a coinage that would have some beauty?"
President Roosevelt commissioned the sculptor Augustus Saint-Gaudens for the task of coming up with a new design. Saint-Gaudens accepted this assignment, but was so terribly busy that he only had time to sketch out some rough ideas on a paper napkin while making the train trip from Washington. He had told President Roosevelt that he would need to have his associate, Adolf A. Weinman, to do most of the actual work on the design. Collectors today will probably know Weinman for his work on the Mercury dime and the Walking Liberty Half Dollar.
Double Eagle Gold Coin
October 2, 2008
During the time that the Double Eagle Gold Coin was being minted in the USA there have two major versions along with six minor deviations of it produced. The main two versions are the Liberty Head or Coronet which was minted between 1849 and 1907 and the Saint Gaudens which was minted between 1907 and 1933.
But for the Liberty version of this gold coin there have been 3 different versions of it minted and these are as follows:-
1. Liberty Head with no motto but with a value on it of "Twenty D." and was produced between 1849 and 1866.
2. The Liberty Head with a motto and its value again showing as "Twenty D." and this one was minted from 1866 until 1876.
3. The final version of the Liberty Head gold coin to be minted between 1877 and 1907 again had a motto on it but the value showing on it was "Twenty Dollars".
As for the Saint Gaudens Double Eagle Gold Coin which began being minted in 1907 the 3 versions available of this are as follows:-
1. The 1907 version of the coin had a high relief, no motto and Roman numerals were used on it.
The Most Expensive Coin Ever Sold - 1933 Double Eagle Gold Coin
September 8, 2008
Have you ever wondered what the most expensive coin even sold was? In 2002 a 1933 Double Eagle Gold Coin went to auction and fetched 7.5 million dollars!
So Why Would Someone Spend So Much Money on a Gold Coin?
The US Mint, which makes coins to be circulated as currency produced over 400,000 double eagle gold coins but none of them ever made it into circulation. It was President Roosevelt that made a decision during the Great Depression to change the currency laws to make it illegal for private citizens to own gold coins. The only gold coins that were allowed were coins that had collectible value. At this time all gold coins were taken out of circulation and melted down as a way of stabilizing the economy. The government felt that in order to solve the problems in the economy, it was necessary to limit gold so that people would not hoard it, causing inflation and more economic uncertainty.
US Mint Halted Sale of American Eagle Gold Coins
August 23, 2008
American Eagle bullion coins are short in supply, but investors jumping to own them due to a recent sharp retreat in gold prices.
"Due to the unprecedented demand for American Eagle gold one-ounce bullion coins, our inventories have been depleted. We are therefore temporarily suspending all sales of these coins," the U.S. Mint told authorized coin dealers in a memorandum dated on Friday.
"We are working diligently to build up our inventory and hope to resume sales shortly," the Mint said.
Coin dealers from the United States to Canada reported a surge in buying of bullion coins and other gold products since prices plummeted from highs last month. The buying spree contributed to supply fears and helped boost gold prices sharply on Thursday.
The move by the U.S. Mint to halt sales caught market participants by surprise as it came at a time when the metal was sharply falling, rather than rising.
Produced from gold mined in the United States, the American Eagles have been novel items among collectors and investors since their introduction in 1986. Each coin has a face value of $50 but it is sold by authorized dealers at a premium to the price of gold.
Why is the American Eagle Coin So Popular
August 17, 2008
The renowned American Eagle Coins, also known as the American Eagle Bullion Coins, have been issued basically for collectors. That means they cannot be sold for commercial purposes. For a bank or brokerage firm to be able to even sell one of these spectacular rare coins, it must first get approval from the United States Mint or any other establishment.
They were basically designed to add value to an investor's portfolio and physical amounts of gold, silver, and platinum into their investments. These beautiful rare coins are of the highest quality and are the best selling investment in America. With America's constant fluctuating economy, they have become a solid investment, and since their issue date in 1986 their popularity has flourished.
President Franklin D. Roosevelt signed the "Gold Confiscation Act" in 1933, which made it illegal to own gold, thus putting an end to all circulation and private possession of any United States gold. However, during the presidency of President Richard Nixon, which was in the early 1970's, the right to own gold was finally restored. In 1986, the Gold American Eagle program was authorized by President Ronald Reagan, which once again began the process of minting non-commemorative gold coins for collectors.
Buy American Eagle Gold Coins - But Know Your Specs First
August 12, 2008
If you are planning on buying American Eagle Gold Coins to invest, or are just a coin collector, it is important to know what it is you are buying.
The following in a listing of the size, content, weight and U.S. Government backing, and all gold proof coins available. This information is accurate, as the source is the United States Mint, who creates the coins.
All American Eagle Gold Proof Coins are legal-tender and contain 91.67% (22 kt) gold. The difference from the 91.67% to 100% relate to the additional alloys needed to harden the coin. Gold alone is too soft.
Coins are available in one ounce, half-ounce, one-quarter ounce, and one-tenth ounce. Each coin denomination will affect the size, and weight of the gold coins.
* The one ounce coin carries a $50 face value, is 1.287 inches in diameter, contains one gold troy ounce and weighs 1.0909 troy ounces.
6 Tips to Buy Gold Coins on eBay Safely
August 9, 2008
eBay is well-known for its bargain prices on everything, including gold coins. If you want to buy gold coins either as investment or collectible coins, you should drop by eBay and check recent gold coin auctions. You would be surprised what you can discover there.
Do not expect to buy gold coins at 50% or even 30% discount there, it’s simply unrealistic. However, you can find great coin deals having gold prices below what is offered on websites specializing in selling gold bullions and gold coins. If you save 5-10% on eBay, it means you are getting one free gold coin with every 10 coins purchased. Talking about smart investing…
But you also want to have a pleasant and save experience with your eBay purchase. Read the tips below and you would never have to worry about your gold coin purchase again.
