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The 43 American coins worth over a million dollars each |
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US Coin Values Advisor maintains this list of the most valuable American (mostly) gold and silver coins ever sold. Currently there are 43 coins which have sold for over a million dollars, and many more for over $100,000. Top of the list is an 1804 gold eagle which sold for $5 million, back in September 2007, and a 1913 Liberty Head nickel which also went for $5 million. For most coin collectors or investors of course, this list is academic, since all but the super-rich will never have a chance to see coins like these, never mind own them. But it may be worth familiarising yourself with these rare coins, mostly from the 19th century, so that if the opportunity presents itself at a garage sale or a estate sale... OK, I'm dreaming.
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Tips on Buying gold coins on eBay |
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Here is a guide worth reading on how to go about buying gold coins safely on eBay. This is the most detailed step by step description of the process I've ever seen. It is aimed at those completely new to eBay, but has good advice for all coin collectors. The writer concentrates on his own particular area of interest, pre-1933 American gold coins, but the information is useful to everyone. It is interesting that he advises never to bid more than 30% above spot price of the coin's gold value.It's easy to get carried away in the heat of the auction, but if your maximum is exceeded by another bidder, let it go. There is always another gold coin on offer tomorrow.
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Here is an article in the Buffalo News which describes the origin of the phrase 'acid test' in relation to people selling their old gold jewelry to jewelers. There is a lot of this going on, as the price of gold is so high, and people in financial hardship because of the recession are often looking to raise some quick cash. People sometimes wonder what is best to buy as an investment, gold jewelry or gold coins. The article above answers that question, because the jewelers quoted say that 'an individual selling gold cannot expect to be paid 100 percent of its value'. Actually, an individual selling any gold coin on an auction site like eBay does expect to get 100 percent of its value, and a bit more too, and they do, every day. So, when you eventually come to sell your gold, what would you rather have?
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How one man saved himself financially with gold |
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I've been rereading a story from last year about the financial crisis in Iceland, and how one man saved himself by seeing what was coming and then transferring most of his assets into gold. (If you've forgotten about what happened to Iceland, you can read about it here.) This individual didn't buy gold coins, but put his money into an offshore gold bullion ownership account. It's now very easy to do this through services like Bullion vault, and it may be an option if you can't take possession of actual gold in your home, or don't want to trust a bank with it. Iceland may be an extreme case - it suffered a two-thirds devaluation of its currency in a period of a year and the collapse of its three main banks - but this happened in a modern Western country with a high standard of living. A reminder that it's really up to you to protect your own wealth. In doubt of gold? Not me. And yes, I use Bullion Vault too.
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The most dangerous gold coin scam of all |
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Here is an informative post on the goldismoney forum detailing exactly how some gold coin and precious metal scammers work, and how they exploit vulnerable people. The scammers have large advertising budgets, and they use their purchased publicity from talk show hosts or religious ministries to make themselves appear legitimate, and hook people in. You may want to print that forum post out and give it to anyone you know who might be tempted by these schemes. The lesson from this? As ever, the best way to invest in gold is to take physical possession of it yourself.
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Page 21 of 22 |
Daily Gold Coins blog
