Information About Coin Collecting

//Information About Coin Collecting

Information About Coin Collecting

We lost another dear friend on Monday. I haven’t written about it yet because I was involved in helping with the Memorial. Norm’s death was expected as he had emphysema and had been suffering for a long time. It was a relief when he was able to pass away. His dear wife and son were with him along with the Hospice nurse that helped ease his suffering. His family and friends are very grateful to this angel in human form.

You also have another avenue to invest in Silver and it may be in your pocket right now. Any Silver nickel or dime that was produced in 1964 or earlier is pure silver. Any time you make a purchase and are handed loose change, check the Silver and save any coin that predates 1964. You may already be invested in a precious metal and not even know it! Either save or take those coins to the dealer to find out how much they may be worth.

We charge a monthly fee. It is 0.12% per annum charged monthly in arrears, and it is subject to a $4 per month minimum. You will pay $4 a month if your holding is less than $40,000. $100,000 stored will cost you $10 per month. You can use all three vaults if you wish, as this doesn’t escalate your storage bill. Those fees includes insurance. Gold is very easy to store because there are no complex stock splits, dividends, rights issues etc to administer. It simply sits quietly in a highly secure vault. That’s why our storage rate at 0.12% per annum (less than 1% after 8 years) comes in at less than a tenth of share portfolios which I read recently charge an average of 1.31% per annum in management fees.

There are currently no freely circulating gold currencies in the world; so, right or wrong, as a medium of exchange it is clearly prone to failure. Why? Because it is so good at storing value that presented with a choice of spending pesos or gold people repeatedly spend pesos and save gold – which means the gold gravitates to savers, not spenders, and stops circulating as currency.

What does all this have to do with precious metals investing, and silver investing in particular? Nothing–at least not directly. First, the CPI is not a measure of inflation. It is a measure of price change of particular consumer items. Second, prices fluctuate all the time. If you read the next sentence beyond the headline that grain prices are up, you learn that production (supply) is expected to be down. The economic law of supply/demand has not ceased to work. And oil, like all commodities, is priced in U.S. dollars. Have you heard? The dollar is falling. Therefore anything priced in U.S. dollars rises.

“>coin dealer Colfax to purchase silver varies with the spot price of silver; today it paid eight times face value, or in other words 8 X .15 = $1.20.

The Good Delivery Bar usually weighs 400 oz (this varies across markets) and has been continually stored in these accredited vaults since it was manufactured by an accredited refiner. Unlisted manufacturers, under-sized bars, and also previous private possession of full size bars deny the gold ‘good delivery’ status. This prevents professional buyers accepting them when you sell because of the integrity rules of the bullion market. The result is that for gold in private possession – typically small bars – when you sell you will only get a discounted price from a trader outside the main bullion market, the prices are much less competitive and you will lose probably 4-6% of your gold’s value the instant you take possession.

And while you’re waiting, there are many affordable examples of other types of big silver waiting for you at your local coin shop or online at auction sites and coin selling sites. You can purchase all kinds up of big silver world coins and medals from 2 ounces in size up to a kilo in size, and sometimes, for just a small premium over the melt value of the silver. Some of these are truly beautiful like those put out by mints in Mexico, Canada and Australia.

By | 2017-07-06T15:26:15+00:00 July 7th, 2017|Coin shop|Comments Off on Information About Coin Collecting

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