Legal Tender - Silver Bullion Coins For the Collector Or Investor
December 19, 2008
This article will provide a General Description of Gold, Silver, & Platinum Bullion
A lot of people are familiar with bullion coins and bars, and you see them offered on TV or on websites, but the sheer number of these products may cause even the experienced investor to pause. They are similar in nature, they move up or down directly with the price of gold, silver, or platinum on a daily basis. And, their buy and sell prices are easy to comprehend.
They are precious metals and as such are measured by the Troy ounce, as compared to your bathroom or postal scale weight which is called Avoirdupois. For the record 14.58 troy ounces = 16 postal scale ounces. The Troy ounce is approximately 10% heavier than the Avoirdupois weight. These bullion products move directly with the New York Commodity Exchange, which opens for trading at 5:30 AM and closes at 10:30 AM California time. After the Comex (Commodity Exchange) closes the price of these coins usually remain fized until the beginning of the next trading day. However there is an aftermarket which may cause quote changes.
A definition of bullion coin: one in which there is little premium above the content or weight value of the coin. You are buying only the commodity itself. Coins like this will increase in value if world markets go up and will decrease in value if world markets go down. This happens because bullion manufacturers produce large numbers of them each year, and eliminates the idea of these coins being rare in any sense, this is not the same for government issue bullion coins.
Silver Dollar – A Jewel Among Coins
December 9, 2008
It wasn’t long ago when a silver dollar in your change meant that you’d remove it from your pocket and squirrel it away among your treasures. It’s easy to see why -- silver dollars stand out from ordinary coins that we receive every day in our change. They’re heavier because of their size and silver content and the designs that adorn them are works of art.
Rich in American history and beautiful to behold, silver dollars have long been prized as highly collectible by coin collectors and history buffs alike. Perhaps no other coin is so prized among collectors as the Morgan silver dollar. Designed by George T. Morgan, the Morgan silver dollar is mired in conspiracy.
Morgan became the designer of the coin because of a contest held by Henry P. Linderman, director of the Philadelphia mint. It was later revealed that the contest was staged because Linderman was unhappy with the designs for the dollar by the Chief Engraver. By staging the contest, Linderman was able to help design the dollar himself. The bald eagle and the head of Liberty was actually Linderman’s idea – designed by Morgan.
Know the Grading System for Morgan Dollars
December 4, 2008
The grading system for silver dollars helps you find the Morgan dollar to complete or begin your collection. All coin collectors and dealers use a standardized system to grade Morgan silver dollars.
When minting was low the Morgan dollar is valued highly, but other factors – like its condition – also determine what you’ll pay. Key date coins are especially difficult to find because only a few were minted during a certain time or because there may have been an error during production.
Coins may be graded by numbers, such as 1 through 70, 70 being the best condition possible for a coin and 1 being a damaged coin.
Look at photos of the coin if you’re thinking of buying online. Also take into consideration its rating. But beware that a seller may grade a coin too high because they’re inexperienced or want a higher price for the coin.
A Morgan dollar may be graded low because of the following conditions:
Coin Collecting - Avoid Worthless Silver Coins
October 30, 2008
A worthless silver coin for collecting purposes is any circulated silver coin that is only in fair condition and has value to collectors beyond the value of the silver bullion it contains.
This is an unofficial term used in the United States and Canada. Junk silver is not scrap silver. These coins can still be spent in the US and Canadian markets for the value stamped on the coin. However, coin collectors call them “junk” because they have little numismatic, or trading, value.
The Mercury and Roosevelt dimes, the Washington quarters, and the Franklin and Kennedy half dollars are the most popular US coins collected for junk silver. These coins, minted before 1964, contain 90% silver composition, with 0.7 troy ounces of silver per each dollar of face value. Kennedy half-dollars minted from 1965 to 1970 contain 40% silver composition, so they are collected but are not as popular. The Peace Dollar (minted from 1921 to 1928, then again in 1934 and 1935) is also collected for its silver value, which is high at a little over 90%. However, these are more rare and may have collectible value beyond the value of the silver.
