How to Buy and Invest in Gold Coins
With the price of gold and silver falling over the last few weeks, some people are going bargain-hunting and purchasing gold bullion and gold coins. I am certain there are "very good deals" out there, but usually they don't involve meeting some guy your friend knows or purchasing rare coins at a flea market. Follow the tips I have listed below and you are sure to purchase gold coins that will be authentic United States or world gold coins.
Guide to Buying Gold Coins:
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Stack’s Bowers Giving Away 1,000 Free ANA Memberships
Christina Karstedt, Executive Vice President at Stack's Bowers Galleries announced in Coin World magazine that they will be giving away 1,000 free memberships to the American Numismatic Association. Karstedt states, "Belong to the American Numismatic Association has enriched my life greatly." Personally, I couldn't agree more. I have been a member of the ANA since 2009 when Ian Russell President of Teletrade offered free ANA memberships. Since then, I have attended ANA coin shows, went to the ANA Summer Seminars in 2010 and taken advantage of many other ANA member benefits. What do you have to lose? Sign up today and expand your coin collecting experience.
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Image courtesy of: The American Numismatic Association
2013 West Point Two-Coin Silver Set Orders Begin
The United States Mint will begin selling the 2013 American Eagle West Point Two-Coin Silver Set tomorrow (May 9, 2013) at 12 noon EDT. The initial sales price has been lowered from the originally announced $149.95 to $139.95 (not including shipping and handling). There will be no mintage limit or household ordering limit, but sales will only be open for a period of four weeks and will close on June 9 at 5:00 pm ET. The set will contain one 2013 Reverse Proof Silver Eagle with a W mint mark and one 2013 Enhanced Uncirculated Silver Eagle with a W mint mark. Each coin is struck from 99.99% pure silver and weighs one Troy ounce. Last year the two coin San Francisco Silver Eagle set sold almost 250,000 units.
Image courtesy of: The U.S. Mint
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2013 United States Silver Proof Set
The 2013 United States Mint Silver Proof Set is now available for sale on the U.S. Mint's website. The set contains 14 proof coins, encased in three clear plastic lenses and newly designed packaging so that the edge of all the coins is visible. The five quarters, half-dollar and dime are struck in 90 percent silver and contain a total of 1.338 troy ounces of pure silver. Currently, the set is selling for $67.65 (plus $4.95 shipping and handling per order) with no mintage or ordering limits.
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Image courtesy of: United States Mint
Grading Cameo Contrast on U.S. Proof Coins
In 1971 the United States Mint developed a new process for producing coin dies that would give virtually every proof coin minted a cameo contrast finish on the devices. Previously, the frosty finish on proof coins was the exception and not the rule. Approximately the first one hundred coins minted from a new set of proof dies had frosted devices. If you collect proof coins made before 1970, you know that the deeper the cameo contrast the more valuable the coin. I have assembled a collection of Kennedy half-dollar photographs to illustrate the progression from the "deep cameo" finish on the devices to a brilliant reflective finish across the entire surface of the coin. You can use this guide to grade your proof coins.
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Image: Copyright 2013 James Bucki, All rights reserved.
Walton 1913 Liberty Head Nickel Sells for $3,172,500
Coin dealer Jeff Garrett of Lexington, Kentucky, and partner Larry Lee of Panama City, Florida, placed the winning bid of $2.7 million dollars at Heritage's Platinum Night Auction on Thursday, April 25, 2013 at the Central States Numismatic Society coin show at the Schaumburg Convention Center. After the auction house's commission or buyer's premium was added, the final selling price was $3,172,500. According to the Chicago Tribune, "This is one of the greatest coins at that price range," said Garrett.
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Image Courtesy of: Heritage Auction Galleries, Ha.com
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1913 Liberty Head Nickel to Sell This Week
Back in January, Heritage Auctions announced that they would be selling the Walton Specimen of the 1913 Liberty Head Nickel. The time has come! On Thursday, April 25 beginning at 7 PM CT, the Signature Floor Session 5 will begin. The Walton specimen is lot number 4153 and should come to the block approximately 7:15 PM. As of this writing, the nickel has been bid up to $2,585,000.00 (including buyer's premium).
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Image Courtesy of: Heritage Auction Galleries, Ha.com
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Roosevelt Dime Values and Prices
The Roosevelt dime has been produced since 1946 soon after the death of President Franklin D. Roosevelt in 1945. This is an easy series to collect, especially for beginners who have already completed their Lincoln cent and Jefferson nickel collections. This guide provides both buy prices (what you will pay for the coin) and sell values (what the dealer will pay you for the coins). Roosevelt dimes dated 1964 and before are made out of 90% silver and are rarely found in circulation anymore. Use these guides to make informed buying and selling decisions for your Roosevelt dime collection.
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Image courtesy of: Heritage Auction Galleries
2013 West Point Two-Coin Silver Set On Sale May 9
The United States Mint has announced that it will begin selling the 2013 American Eagle West Point Two-Coin Silver Set on May 9 at 12 noon EDT. The initial sales price will be $149.95 (not including shipping and handling). There will be no mintage limit or household ordering limit, but sales will only be open for a period of four weeks and close on June 9 at 5:00 pm ET. The set will contain one or 2013 Reverse Proof Silver Eagle with a W mint mark and one 2013 Enhanced Uncirculated Silver Eagle with a W mint mark. Each coin is struck from 99.99% pure silver and weighs one Troy ounce.
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Image courtesy of: The U.S. Mint
Falling Gold & Silver Trigger Mint Re-Pricing
Gold and silver prices fell to a two year low today and the U.S. Mint took several products off the market for re-pricing. According to Canadian precious metals dealer Kitco, the drop in gold and silver prices was triggered by "panic selling" where investors dumped large quantities of gold and silver contracts on the market at a loss. This activity pushed the prices of precious metals even lower and more investors sold their positions. While I am writing this gold is hovering around $1350 an ounce and silver at about $22.75 an ounce. We haven't seen prices this low in over two years.
The United States mint issued the following press release, "Due to the falling price of silver, the following products have been taken off sales for re-pricing.
- 2013 American Eagle Silver Proof Coin (GA6)
- 2012 U.S. Mint Annual Uncirculated Dollar Coin Set (XA3)
- 2012 ATB Silver 5 Ounce Uncirculated - Chaco Culture (NQ1)
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