How To Sell Gold and Silver Bullion and Coins.

With the price of gold and silver going up and then down a bit, how do I know when to sell and when to buy?

The adage of selling high and buying low applies to almost everything in the commodity market. Gold dipped to $1835 per ounce and then shot back up to its highest price in March 2022, selling for $2056 an ounce. Watching the market and the spot price of precious metals is the key to getting a fair price for your old silver, gold, and silver coins, silver bars, scrap silver, sterling silver, bullion, and other precious metals.

Why is gold and silver spot price going up and down?

In late February 2022, the USA warned that Russian intended to invade Ukraine. There is tension all over the world with what is going on abroad. The United States has sent troops from Ft. Bragg, NC, to Poland as a part of NATO to help Ukraine people flee to safety. The U.S. is supportive and has sent Ukraine ammunition, small arms, and other defensive weaponry.

During times of global tension, the market price of gold and other precious metals goes up and will fluctuate as situations change.

According to experts, the federal interest rate is expected to continue to rise at least six times during 2022. It is presumed that the interest rate will be greater than it has been since 2005.

Since March 2020, the feds have purchased $4.5 trillion in treasury bonds and mortgage-backed securities to stabilize the financial system and lower long-term rates for consumers and businesses.

Inflation is here and ugly right now, contributing to economic uncertainty and how the spot price of gold and silver fluctuates.

Bank loans will cost more, gas prices are soaring, and food prices and supplies are waxing and waning, contributing to how consumers spend their money. Things like farm equipment, employees, etc., are reduced so businesses can watch their spending.

Individuals and companies are trying to save because interest rates may increase even more. When individuals and companies take a conservative approach to spend their money, money becomes less available, and spending decreases.

Spending Cautiously

Consumers are more likely to approach spending with safety. They are slow to burn through reserves right now, anticipating a rise in interest rates and other risks that may be on the horizon.

These things all affect gold and silver spot prices, and buying them is an investment during periods of political and economic uncertainty. Half of the gold consumption in the world is in jewelry, 40% in investments, and 10% in industry.

Gold holds its value in weak economic environments.

Investors are flocking to gold and silver bullion during the last year to protect their business and personal wealth. Gold and the U.S. Dollar

As the U.S. dollar rises in value, the value of gold falls. The same is true inversely. The strength of the U.S. dollar is related to interest rates. Gold may be far more efficient than cash as storing wealth. When you look at inflation, currency may lose value.

Gold is recognized as having a long-term record of stability, and investors are making it a part of their investments today.

Spot Price, What is it?

When buyers buy gold, sellers will raise the price, and buyers will buy lower if sellers are flooding the market. The influences on the price are extensive.

When the geopolitical and economic situations are tense, gold prices go up and the current silver price. Currency markets are a driver in the spot gold price. As the dollar rises, it makes gold relatively more expensive for foreign buyers and can cause declines in the spot price. Inversely, gold prices rise as the dollar weakens, and gold is less costly for foreign investors.

The price of gold and silver is based on someone buying the precious metal “on the spot” or, in other words, at a specific moment in time, it is paid for and delivered. The price will fluctuate with the market.

If you want to sell your silver or gold, remember to sell it when the price is high, so you get the most money possible. If you will buy silver or gold, make sure that you do so when the market price is lower to invest in for future sales.

Troy Ounce

Gold and silver are bought in a troy ounce. A troy ounce is a unit of measurement and equals 31.1034768 grams or 1.09714286 ounces.

Purity

Gold price is based on 24k gold or the purest form of gold at 99.9% pure. Like gold, silver prices are based on pure silver or .999 silver. The object will be marked 999 or 99.9% pure silver.

How the spot price is calculated is critical to understand as you get ready to buy and sell gold and silver because you will get paid according to how much silver and gold are worth on the current market at a specific moment in time.

Knowing that the price is based on the purity of the precious metals makes it possible for you to determine what a fair price would be to compare prices when trying to sell online or in-person like to a local pawn shop.

Several places buy and sell silver and gold. Most of the valuable silver items you find on the market are made of sterling silver, containing 92.5% silver. Pure silver is too soft and malleable for making jewelry, flatware, and other objects. The same is true for 24k gold, and it is slightly softer and scratches easily. This is why most jewelry is made from 18k, 14k, and 10k gold. You will also get a better price on jewelry made from 14k and 10k gold at a jewelry store because it is less pure. The purchase price of jewelry depends on the purity of the metal used in the jewelry and what gemstone is included.

Do Research Before Buying and Selling

Bullion coins, silver coins, silver bars, and bullion all sell well when considering selling precious metals. A bullion dealer, an online dealer, a local buyer, auctions, pawnshops, and private buyers will all buy and sell gold and silver.

Make sure that whomever you are dealing with is a reputable buyer.

You can research online reviews, check with the better business bureau, and look for details on a dealer’s website to decide if the shop you are dealing with is a safe place to sell and get a reasonable price.

Rising coins and blank shopping bags on black background. Rising prices or inflation concept. Mock up
Online Dealer

There is always a long list of online dealers when you search for selling gold and silver. Online ads will pop up regularly saying where you can sell your silver and gold. Selling your silver and gold online is an excellent way to do comparison research, and it allows you to interact with different dealers worldwide. You can compare silver prices.

Online dealers buy numismatic coins and bullion coins throughout the world. They will often give the best price but remember, a sale will involve shipping costs. Goldsilver.com is an easy place to buy and sell silver online but remember you will have to wait for payment, so the payment isn’t instant.

Coin Shop

A local coin shop or coin show may be an option to buy and sell silver and gold. Coin shops also have a retail market they work with, and they know what a fair price is for collectible coins. Silver coin shows are a great place to take your silver coins if you want to sell them. These shows have interested buyers, so you may be able to move your coins quickly. It’s also fun to see the random collection of coins.

Private Buyers

Private buyers on Craigslist or online will also buy silver and gold. Private buyers may be willing to say they will pay more for high-quality items, but there is always the risk associated with private buyers. Safety is vital in these transactions.

Online Auctions

Online auctions like eBay can be another place to sell your gold and silver. These have large audiences multiple bids, and you could get a good price, or it could be undersold as well. Unique silver items like antique silver flatware may do well on an auction. Multiple bids can help in the selling process, but you will still have to wait for your funds until after the auction closes and a deposit is made.

Pawn Shops

Pawnshops are an excellent place to visit if you are in the market to sell or buy silver and gold. Having experts who know coins, silver coins, gold, fine jewelry, scrap silver, silver bars, silver bullion, sterling silver, junk silver, and bullion coin, pawn shops are considered gold buyers.

Pawn stores can be found locally, making it easy to visit and speak with an expert in person. They have large retail showrooms where they sell silver, gold, coins, sterling jewelry, and gold and diamond jewelry. Some pawn shops are like jewelry store with more affordable prices.

Because pawnshops have experts who can appraise your valuable silver, they can tell real silver from fake and what purity your gold may be. The selling process is easy because an offer is made once appraised, and you get cash immediately if you agree with the offer, and there is no waiting.

If you want the most cash you can get in an expedited process; a pawn shop may be the answer. If you have silver and gold jewelry you don’t wear anymore, and maybe they have silver markings, it may be an excellent time to gather them up and see what your selling options are at a pawnshop.

Pawnshops will appraise gold and silver items like silver rings with silver hallmarks, silver flatware, old silver, junk silver, sterling silver, gold bullion, gold coins, and more. They also consider luxury items like Rolex, diamonds, and luxury handbags.

As you look through your things and decide if you are in the market for buying silver or selling gold or both, look at what you have that might be silver plate, electroplated nickel silver, or sterling silver.

Silver plate and electroplated nickel silver may not be worth as much money but may have some value to a pawnshop. Plated silver will be marked with a PNS. Sterling silver will be marked with a 925 because it is 92.5% pure silver.

Scrap silver and scrap gold are worth money and typically are broken pieces of jewelry. The pawn shop will buy these items, act as the middle man, and send them off to a refiner for melting after they are purchased.

Living in San Jose, CA and Need a Reputable Bullion Dealer?

R & J Jewelry and Loan

At our family-owned and operated pawn shop since 1978, we have built our reputation on personalized services and our extensive jewelry selection in a variety of price ranges. We strive to set ourselves apart from other pawnshops by offering real money for your items.

Fair and reasonable offers are how we do business.

At R & J Jewelry & Loan, we will buy your items or give you a cash loan to get you through the rough times. We buy gold, silver, gold bullion, diamonds, silver jewelry, and luxury handbags and watches. We are a reputable dealer, and we will treat you somewhat, getting you the most money for your things.

If you have gold jewelry, silver with silver hallmarks, Rolex or other luxury watches, diamonds, silver jewelry, we want to offer you free appraisal services to get you the best price.

We also have an extensive retail store with affordable prices to buy valuable silver items, gold items, luxury watches, or other fine jewelry if you are in the market.

Here at R & J Jewelry & Loan, we pay cash for a wide variety of products. Gold, diamonds, jewelry – you name it, we can help. When you come to our pawn shop in San Jose, CA, you can be sure you’re dealing with EXPERIENCED and dependable professionals. Trade your unwanted items at our pawn shop.

We will buy, sell and trade all types of items like Jewelry, Gold, and Luxury Accessories.

Gold Buyers San Jose & Loan will buy Gold Bullion in San Jose, diamonds, and jewelry, and the pawnshop accepts unwanted things.

We will purchase, sell, and exchange goods. We are the leading Gold Coin Buyers in San Jose, CA, to buy your scrap gold.

Clear said, “We are currently buying gold in any form or condition, including coins and jewelry. Fair market prices paid, no games. Bring your gold to our pawn shop in San Jose, CA, and get instant cash on the spot.”

Reviews Say It all When You Do Comparison Research
Loans

Fantastic service. I needed some bridge loan funds for a couple of months. Brought in my Patek and A.P. and was funded that day They worked with me, very professional. I picked up my watches last week, never could be more happy.”

Jewelry – Retail

For being a pawn shop, the jewelry and display setup they have is very impressive. They offer a surprisingly wide selection of jewelry for both men and women, and you can ALWAYS catch a good deal. I wanted to get a new watch, so I stopped in, and sure enough, I was able to find a great deal on a lightly used Rolex that I loved!”

Please stop by and see us today!

WHY IS EVERYONE BUYING GOLD?

Why Is Everyone Buying Gold?
Why Is Everyone Buying Gold?

Gold bars, gold bullion, gold jewelry, gold coins, gold by the ounce, gold by the gram; it seems like everyone is buying gold or selling gold.

Maybe it’s not such a good sign when you consider gold as a hedge against inflation or financial disaster. Gold has had a great year, and it doesn’t appear that this will change anytime soon.

A survey completed in the summer 2o2o summarized that one in six Americans bought gold or other precious metals in the last three months, and about one in four were seriously thinking about it.

Gold Bugs

Gold Bugs

Are we all Gold Bugs? Borrowed from the title of the Edgar Allan Poe story “The Gold Bug” (1843), this label by the 1870s referred to anyone who favored basing the United States monetary system on gold and excluding silver. “Gold bug” (sometimes spelled “goldbug”) is a term in the financial sector of the world to describe someone who becomes highly bullish on the commodity gold for investment purposes or standard for measuring wealth.

Many young and older adults will buy and trade gold as part of their business and personal financial portfolio with the current gold market price. Both gold and silver market price is high. If you can buy gold and silver now, what will it be worth as things change in the economy?

The USA economy is turbulent right now, and people are concerned about inflation and the cost of goods. People want to find gold and silver to purchase to use these precious metals as a part of their financial portfolio and a hedge against inflation. Creating a portfolio that is diversified seems to be the best goal.

In this country, the US, there is a range that gold and silver sell for, and this changes daily. The spot price is the price the gold and silver sell for at market value. It is vital to check spot prices to buy and sell at the best prices.

The gold industry has competitive prices, and the gold industry itself is competitive. Establishing a relationship with a pawn shop or gold buyer is essential when you are buying to add to your financial portfolio.

It is vital to understand how gold bullion and other precious metals are bought and sold if you consider investing in them.

Troy Ounce

Troy Ounce

First, silver and gold bullion and other precious metals are weighed using a troy ounce equivalent to 31.1034768 grams, and an ounce is equal to 28.349 grams. The troy system is a system of units of mass that originated in the 15th century in England. The troy weight units are the grain, and the troy grain is equal to the grain unit of the avoirdupois system. The troy weight system is used in the special metals industry because it helps ensure purity and weight standards are consistently met.

Spot Prices

Spot Prices

Second, it is essential to learn the spot price for gold and other metals you want to buy and sell. The spot price is an economic concept, and it is determined by supply and demand or the numbers of buyers and sellers interested in the precious metals being bought and sold and how much is available.

Limited availability + high demand = higher market value price for that commodity.

The name spot price comes from the “deal” being done on the “spot,” meaning it needs to be bought, paid for, and delivered immediately or “on the spot.”

Every day the spot price of precious metals goes up and down. The spot price of gold and silver is available online and is used to calculate the market prices of the precious metals you want to buy, sell, or trade. Goldcalc has a gold spot price calculator, making it easy to determine what your gold is worth. Don’t forget that all gold buyers have a premium deducted from the price.

Gold Purity

Gold Purity

Gold has different purity. All gold spot prices are based on gold being 99.9% pure. 24k gold is considered “pure” gold without traces of other metals. 24k gold is soft and bright yellow. It is mainly used in gold bullion and gold coins because it scratches easily and, therefore not always a good choice for jewelry.

18k gold is 75% pure, 14k is 58.3% pure, and 10k is 41.7 pure. The weight of gold is measured in troy ounces; however, the purity of gold is The weight of gold is measured in troy ounces; however, its purity is measured in ‘carats.’ Since the spot price of gold is based on gold being 99.9% pure, the more other metals are in the gold, the less refined, the less it’s worth.

gold coin
Photo Provided By 2nd Markets (Click Image For Source)

The Gold Coin

Gold has always been a part of the international monetary system, and gold coins were used before paper money. Around 550 BC, the first coins were struck in an area now known as Turkey. An earlier gold coin, the Ying yuan, was minted in ancient China, with the oldest ones being known from the 5th and 6th centuries BC. Some were large and used for high-value exchanges.

In the US, gold coins were used for commercial transactions from 1795 until 1880. The first gold coin struck in the United States was the 1787 Brasher Doubloon. The privately minted coin is one of the most important coins in American numismatic history. Ephraim Brasher made the unique coin along with six others. It was struck it was worth about $15.00 and was being sold at auction for 15 million dollars. If you were to find one of these, your investment portfolio is “golden.”

Investing in buying and selling gold coins is a relatively low-risk option because it offers security. Gold is a tangible asset that always seems to hold its market value. Gold coins will bring a slightly higher premium over spot price due to the extra costs associated with minting and the commemorative nature of their value.

Gold Bullion

Whether it is silver or gold or one of the other precious metals, bullion is a non-ferrous metal that has been refined to a high standard of purity. The term is ordinarily applied to the bulk metal used in the production of coins, and gold bullion is a refined and stamped weight of precious metal.

Like gold coins, gold bullion is considered a good investment. Gold bullion is also known as a gold bar or gold ingot. It consists of high-quality refined metallic gold of any shape made by a bar producer. It has to meet the standards and conditions of the manufacture, labeling, and record keeping. A mold is used for large gold bars, and the mold is called an ingot.

Gold bars and bullion are sold at spot price, just like any other gold. Bars and bullion are considered suitable for investment purposes because gold holds its value over time. Gold bars and bullion can typically be purchased and sold at a lower price premium.

Price Premiums

Premium over spot is a mark-up over the market price per ounce. Depending on precious metals, the premium over spot will differ. Typical price premiums for gold are about 5-8 percent. As mentioned above, the spot price of gold fluctuates daily in response to supply and demand. When there is more demand, premiums may be higher as well. This is due to fewer sellers willing to part with the precious metal. A premium is applied when a buyer wants to buy physical gold and take possession. The premium is the cost of production and distribution.

How Do You Decide to Buy Gold?

Research Gold and Buying Gold as an Investment Purposes

After researching and fact-finding about what is worth buying and what is worthless and a waste of time and money, decide what kind of gold you are interested in buying.

Doing some research and building your knowledge about gold, the types of gold, the forms of gold, and the services that produce gold sales will lead you to decide with confidence.

Take an Analysis of Your Financial Situation

Before you dive into buying gold, do an analysis of your current financial situation, your short-term goals, and your long-term goals. When purchasing precious metals for investment purposes, it is essential to remember all investments take time. Seldom do people buy gold for an investment and then turn around a sell it quickly for a fast dollar. Knowing what you have to invest in, watch gold prices past and current, and understand how to buy low so you can sell high. Contact gold buying experts to discuss your plans so you make good decisions on diversifying your investments for long-term secure investment purposes.

How Do You Decide to Buy Gold?
Decide on the form of gold you would like to buy.

Are you interested in gold bullion, bars, or coins? As you did your research, you can see that each form has its unique characteristics and purpose. Knowing this information will help you with your purchase.

Find a Reputable Gold Seller Who Has Precious Metals for Sale

Now you have to decide where to buy the gold from. Next, do your research and identify a reputable seller. US mints do not sell directly to the public; however, they have a list of Authorized Purchasers.

R& J Jewelry and Loan

Reputable pawnshops like R&J Jewelry and Loan may be an option. People will come in and secure a collateral loan against their gold or coins and may default. If this happens, the gold becomes available for purchase. Also, the pawnshop buys gold outright. Customers have posted reviews and talked about how friendly, professional, and discreet R&J Jewelry and Loan’s gold buying process is.

R&J Jewelry and Loan inventory is vast and often changes, so make sure you phone ahead to see what is available. Established in 1978, R&J Jewelry and Loan is a family-owned pawnshop that built its reputation on personalized services. As a pawnshop that understands the value of gold and silver, they are happy to consult with you if you want to buy, sell, or pawn your luxury items. Of course, visit the pawnshops’ website, so you can see what others are saying about their reliable service.

Safe Storage Options

As the final step in your gold buying journey, research and prepare a place to store your gold. There are third-party storage options, vaults, and a safe or lockbox at home. Home safes can also be used for other purposes like storing essential papers, bonds, currency and money, silver, other precious metals, and more.

You want to account for the gold you have by keeping records and then having it stored in some reliable location where it is safe. Some gold owners want to display their gold and do some research. After all, this may pose a security risk because people may know how much and what type of gold you have. You certainly don’t want to entertain a thief.

Why Is Everyone Buying Silver?

WHY IS EVERYONE BUYING SILVER?

Start Small with Silver Bullion, Silver Bars, and Silver Coins

As a new investor, investing a great deal of money into gold might be intimidating or scary. You certainly know after doing your research that gold values are high, and it will cost some money to invest. There are tools available to help you see the current spot price and calculate costs.

These same tools are available for silver. Silver holds its value as all precious metals; however, it is not nearly as expensive as gold. If you want to “practice” buying and selling precious metals, you could start with silver bullion, silver coins, or silver bars. There are on line services that include shipping, and again don’t forget to visit R&J Jewelry and Loan.

Start somewhere…Now is the time to invest!

Morgan Silver Dollars, Pawn Shops Are A Great Hedge Against Inflation

Morgan Silver Dollars
Morgan Silver Dollars

In 1960 the paper dollar and the Morgan dollar circulated side by side, and they both had the same value. Now the Morgan Dollar is worth $34.00.

1971 The United States Abandonded the Gold Standard

In 1971, by executive order by the President of the United States, the United States would no longer convert dollars to gold at a fixed value. This order abandoned the gold standard, and President Nixon did this to address the country’s inflation problem and discourage foreign governments from converting dollars for gold. Since the gold standard was eliminated in 1971, gold and silver are great hedges against inflation.

The Coinage Act of 1873

The Coinage Act of 1873 revised laws to move towards the gold standard and away from silver. The Act specified the exact silver coins that could be minted and their respective weights, but the standard silver dollar was not included. This ended the free coining of silver and the production of the Seated Liberty Dollar.

The Coinage Act of 1873

The Morgan Dollar

The Morgan dollar is a United States dollar coin minted from 1878 to 1904 and in 2021. It was the first standard silver dollar minted since the Coinage Act of 1873.

In 1878 the Sherman Silver Purchase Act increased the United States government silver purchases increases silver dollar production. The Panic of 1893 an oversupply of silver triggered bank failures causing economic depression. In 1904 the Morgan Dollars ended after the mints stopped manufacturing Morgan Dollars when the silver reserves were gone.

Two rare silver coins both depict United States history.

 

The front side of the Morgan Dollars depicts Liberty wearing a Phrygian cap with “Liberty” on the hairband. On Liberty, the front is displayed wearing a radiating crown, and the reverse shows a bald eagle resting on an olive branch. Originally named the Liberty Head Dollar, the Morgan dollar was minted in the Philadelphia Mint, New Orleans, Carson City Mint, Denver Mine, and the San Francisco mint. There were criticisms about its design as well as its weight and size.

george-t-morgan
Photo Of George T. Morgan (Click Photo For Source)

George T. Morgan

Morgan, born in November 1845, was a British immigrant who assisted William Barber, the Chief Engraver at the Philadelphia Mint. The Morgan Dollar is one of seven coins designed by George T. Morgan and an assistant engraver at the Philadelphia Mint.

Director of the United States Mint, Henry Linderman, realized that the nation desperately needed a new silver dollar coin. He instructed George T. Morgan and William Barber to design a coin depicting Lady Liberty. Morgan decided to show an American woman instead of a greek profile on the coin.

Anna Willess, Williams

A teacher from Philadelphia, Anna Willess, Williams, sat five times as her portrait was used for the Morgan Dollar. The reverse depicts an eagle with wings outstretched. Liberty’s cap is adorned with two stalks of wheat and two cotton blossoms representing American agricultural heritage. The eagle with its wings outstretched holds an olive brand in its mouth, representing peace as it perches atop a bundle of arrows symbolizing readiness for war. Encircling the coin above the United States Of America is the denomination, one dollar with stars on each side. The obverse features the head of lady liberty facing left with the words E. Pluribus Unum in the upper curve of the coin.

The Morgan Dollars all have an M representing George T. Morgan’s efforts in the coin design.

The Morgan Dollar series had a rough start.

The problems started five years before the first Morgan Dollars were ever minted. Why? Under the Mint Act of 1873, the Act ended bimetallism in the United States and placed the United States firmly in the gold standard and away from silver. The production of circulating Liberty seated silver dollars ended in favor of trade and gold dollars. Silver dollars made up less than one percent of circulating silver.

Some people called the coin the Cartwheel because of its size and weight and cowboys in the west. Morgan Dollars are 90% silver and 10% copper, and its ways 26.73 grams, almost an ounce. Imagine carrying around 20 of these coins all day long.

Nicknamed the Buzzard Dollar

Mostly circulated in the American west, the Morgan dollars were nicknamed the buzzard dollar because the bird on the reverse side of the coin was said to look like a buzzard, not an eagle.

It was initially minted from the largest silver strike in U.S. history, the Comstock Lode.

In 2021 the Morgan Dollar was replaced by the Peace Dollar.

Nicknamed the Buzzard Dollar
Photo Provided By CoinWeek (Click Image For Source)

Over a quarter-million of the older Morgan Dollars were melted down to mint the 1921 coin, which was over half of the entire mintage from 1878-1904. A surprisingly large number of Morgans still exist and can be found in uncirculated conditions. The Denver Mint only struck Silver Dollars during 1921 because the Treasury had destroyed the obsolete Morgan Dollar dies in 1910, and a new master die had to be created.

 

George T. Morgan designed the reverse design of the Columbia Exposition Half Dollar and the reverse design of the McKinley Birthplace Memorial Gold Dollar before his death in January 1925.

morgan-silver-dollar-denver-mint
Photo Provided By Coin Study (Click Image For Source)

Mint Marks

A mint mark is a small capital letter or letter identifying where a coin was made. This is important because the mark holds the maker responsible for the quality of the currency. Mint marks first began being used in 1838.

A mint is an industrial facility that manufactures coins that are used as currency. Historically coins were hammered or cast, which took time. Now coin dies are used to manufacture large numbers of coins. Planchets are made into milled coins. Planchets, sometimes called flans or blanks, are small metal disks used as the bases for the currency.

The United States has had eight different mints over the last 200 years. The small capital letters tell the location where the coin was birthed.

Carson City, Nevada, struck both gold and silver coins between 1870 and 1893, and the double letter CC is used for this location. Between 1838 and 1861, the mark C was used to denote the minting that took place in Charlotte, North Carolina.

The D mintmark was used for the Dahlonega, Georgia Mint, which operated between 1838 and 1861, and this mint only manufactured gold U.S. coins. In 1906 the D was then used for Denver, Colorado.

The O mintmark represents the facility in New Orleans, Louisiana, between 1838 and 1861 and between 1879 and 1909.

The only mint that did not have a mint mark is the coins manufactured in Philadelphia, which often carry no mint mark.

silver Morgan dollar collection
Photo Provided By 2nd Markets (Click Image For Source)

Coin Collectors

Coin collectors are skilled in looking at the date on a coin and the mint mark to determine where the coin was made. Which U.S. Mint a coin was manufactured at tells a great deal about its historical significance. Because the Morgan Dollar had a rough start, some of the first years of issue coin an extra historical significance.

Morgan’s silver dollar values start from as low as $10 to as high as $100. However, the most expensive MS65-graded coins with the 1889 CC bring $300,000.

The rare 90% Morgan Silver Dollar is considered the most desirable Morgan ever manufactured. The key-date 1893‑S Morgan is a showpiece. According to Coin Trackers, a certified mint state 1893-S Morgan could bring as much as $550,000 at auction.

Coin Grading Scale

A coin grading scale is a process of determining the grade or condition of a coin. Grading is directing related to assessing the value of the currency. The coins’ grade is determined by strike, preservation, luster, color, and attractiveness.

The American Numismatic Association

The American Numismatic Association was founded in 1981 by Dr. G. Heath. It was established to advance the knowledge of numismatics along educational, historical, and scientific lines and enhance interest in coin collecting. The American Numismatic Society is an organization dedicated to studying coins, currency, medals, tokens, and related objects from all cultures, past and present.

What Coin Grading Service is best?

If you want your coin’s certification to be universally accepted, you may want to stick to the two most trusted servicesNumismatic Guaranty Corporation (NGC) and Professional Coin Grading Service (PCGS). NGC and PCGS are trusted around the world because of their consistent and reliable grading.

The main reason to have a coin graded is to determine its market value. To understand its value, you have to know how well it was made, to begin with, how well it was preserved, and how much wear and damage the coin has sustained. The uncirculated finish is a coin that has never been in circulation and obviously maintained well. These coins bring top dollar.

Coin Grading Service

Notes

Paper money is also graded, and United States banknotes are graded like the coin grading system. The topmost pristine grade is new or gem, the worst being poor. Paper money or notes have a natural advantage over coins in that they are lighter to carry, but they are also less durable than coins. Either way, collecting coins and notes is a great hobby and investment.

Where can you buy and sell coins like Morgan Dollars?

Morgan dollars were minted and are now sought after as a hedge against inflation and by collectors. Silver coins, silver bullion, and precious metals are worth the time and effort put into finding the right deal. Pawnshops carry Morgan dollars because other customers had gone through their large quantities of coins and decided to sell them or use them as a collateral pawn loan item when they needed fast cash. Popular coins like a silver coin are those with a historical significance, and sometimes grandparents from the world war era saved Morgan dollars and other silver coins to give to their children and grandchildren.

With the most recent changes in the economy, some customers had to dig through their coin staches and find the coins with “tail feathers,” Morgans, and took them into pawn shops to sell. Did you know that the original Morgan dollars had an eagle on the reverse side that had eight tail feathers, and soon after production began, the U.S. mint was advised that the eagle should have eight tail feathers. The design was changed. Some of the 1878 Morgan dollars have eight tail feathers, whereas some have seven.

Pawnshops also have fine silver, a silver bullion supply, and pure silver dollars for retail. The stock qty depends on the traffic the pawnshop has experienced at their store and the number of customers trading in silver coins for cash.

R& J Jewelry and Loan

R & J Jewelry & Loan pays cash for a wide variety of products. Silver, diamondsJewelry – you name it, we can help. When you come to our pawn shop in San Jose, CA, you can be sure you’re dealing with EXPERIENCED and dependable professionals. Trade your unwanted items at our pawn shop. We will buy, sell and trade all types of jewelrysilver, and luxury items. We will purchase, sell, and exchange goods. We are the leading Gold Coin Buyers in San Jose, Ca. Buy your silver, Morgan Silver Dollars, fine silver, precious metals, dollar coins, junk silver, luxury handbags, Rolex, luxury watches, and more.