National Coin Week -We are giving away coins

This year marks the 95th occurrence of National Coin Week

 

To celebrate- we will give every customer a silver coin $25 value for free with a qualified gold purchase of $250 or more. We will let you choose which coin you want too!

Now lets learn money!

The Federal Reserve Board currently issues $1, $2, $5, $10, $20, $50, and $100 notes. The largest denomination Federal Reserve note ever issued for public circulation was the $10,000 note. (wow)

On July 14, 1969, the Federal Reserve and the Department of the Treasury announced that banknotes in denominations of $500$1,000$5,000, and $10,000 would be discontinued due to lack of use. Although they were issued until 1969, they were last printed in 1945.

Federal Reserve notes are not redeemable in gold, silver, or any other commodity. Federal Reserve notes have not been redeemable in gold since January 30, 1934,

Life span of US dollar

Denomination Estimated Lifespan*
$1 5.8 years
$5 5.5 years
$10 4.5 years
$20 7.9 years
$50 8.5 years
$100** 15.0 years

 

Curious or confused about whether a product you have is a real gold or silver US minted Coin? Bring it in to our shop for appraisal

Unfortunately, there are a few “sharks” in the coin collecting hobby that would love to take advantage of you. The good news is that these

unscrupulous coin dealers are few and far between. A vast majority of coin dealers are honest businessmen that run their businesses with integrity and fairness.

If you are not a coin collector, there is a lot to learn. The more information you possess will give you the advantage when it comes time to sell. The education process may take a while, but it is more than worth it to avoid getting ripped off when you sell your coin collection. Here are a few essential tips to get you started:

 

 

Never clean your coins! No matter what you think, cleaning coins reduce their value dramatically

Gather the Coin Collection into One Location

There are “coin collectors” an

 

d “coin accumulators.” A coin collector will have his or her coin collection logically organized into sets, folders, albums or labeled containers. A coin accumulator is a person who buys coins and puts them in a box or safe without assembling them into a coherent collection.

If the coin collection that you inherited is truly a “coin collection,” then most of the work has already been done for you.

 

The next step is to start identifying the items in the collection

them into five major categories:

  1. U.S. coins
  2. U.S. paper money
  3. Foreign coins
  4. Foreign paper money
  5. Medals and exonumia

Once you have your coin collection organizedinto logical groupings, you can begin the task of cataloging the collection. If the collection has under 100 pieces, you can do this on a piece of paper with a couple of columns. For more substantial collections, you may want to use a spreadsheet on a computer to help you organize the information.

 

Now that you have identified and graded the coins in your coin collection, you can now determine the approximate value.

Using a handbook like A Guide Book of United States Coins is a great start to determining a coin’s value