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June 12, 2012 | Comments: 0 | Views: 141

The Value Of Gold Coins

Are you curious about the origin of Indian Head gold coins? These have become great collectibles of late. There is also an interesting history as to how such coins came into being. It is known that in 1904 the then US President, Theodore Roosevelt had found the artistic quality of the American coinage to be poor. He shared his ideas with the Secretary of Treasury and asked if he could get his sculptor friends to work on such designs. He then invited his friends Augustus Saint-Gaudens to provide his modern and artistic touch to the US coins. Five denominations of the US coinage were thus redesigned by the sculptor and these could be changed without having to go through the authorization process from the Congress as is the usual procedure. The cent and four other gold pieces were designed by Saint-Gaudens in the shape of a quarter eagle, a half eagle, eagle and a double eagle. An eagle, as per the Mint Act, is equivalent to ten dollars.

Buffalo Designed Rounds

So how are you going to decide how valuable are your collectibles such as Buffalo silver rounds? These can be valued easily by looking at the current day spot prices of silver. Such a spot price is usually determined by the whole sale prices that are going currently in the commodities market. The price is usually stated as dollars per ounce. Such an amount usually changes every day and hence it is important to note the price at the time one bought as well as the price when the rounds are being sold. The usual reliable sources of spot prices of silver are the newspapers and other financial newspapers and publications. These rounds are made by private mints. One should find a reliable mint which has built up a favorable reputation in the market regarding the quality of the rounds that they manufacture. There are many such reputable manufacturers in America which provide the best hallmark stamped rounds. These are thus certified regarding the purity of silver used on the making of such rounds.

Silver Proof Coins

Another form of collectible worth considering is the silver proof coins. Such coins are rare collectible since the US mint has stopped manufacturing them. When they used to be manufactured, they were made mainly for exhibition purposes. A proof coin undergoes a unique method of production. These coins are produced when two dies are struck on a black piece of silver. When the dies are struck twice or more, the obverse and the reverse designs are cast uniquely on the coin. The coin has a highly polished surface due to the dies being highly polished. These are to be differentiated from the uncirculated coins which are produced by the mint and are of inferior quality. Thus, one should only purchase such coins from authorized dealers. In this way one can ensure that the coins are pure and genuine and one will get good worth in the market of such pure silver coins.

Buffalo Silver Rounds are among the most popular silver rounds because of their design. American eagle Silver Proof Coins are collector versions of the official United States bullion coins and are only available in the one ounce size.

Source: EzineArticles
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