Baby Boomer Pocket Change

Breaking News, Seller Offers Refund On My Coin Purchase

Kudos, to the Ebay system of communication. Just when I tried to leave a negative feedback about my coin purchase Ebay forced me to communicate with the seller.

Actually that was a good thing. The seller explained why the specifics about the weight and size was omitted and offered a refund. That was very good.

My lessons still stand because I am responsible for asking questions and I did not. So there is now a new catergory on this site called “Coin Communication.

Tags: coin sales, ebay, gold coins

Fools Gold-Buyer Beware! Plus-Don’t Let Lust for Gold Get in Your Eyes

Picture of tiny gold coins compared to penny

what you see is not always what you get-these are very tiny

Just the other day I was driving in my car listening to the radio. The financial news reporter announced the gold was 1,049. I sucked the air through my nose and let out an audible gasp. I was almost afraid to exhale because I excited about the rise in gold prices.

But then it a little voice of sanity and reason said “Why are you so excited? You don’t have any gold.” So, in the middle of bumper to bumper traffic I laughed as if I was listening to a Bill Cosby tape.

I realized I was just excited for other that might be able to benefit from this good news. Or maybe it was just wishful thinking. Anyway, that night, after my hubby was in bed and I was finished working, I went to Ebay.

There, at a sleepy 1:00 am, I saw a really low priced ad for 22 karet gold coins with only a  $2.00 bid. I looked at the picture and saw the coins spread out unorganized on a kitchen counter top.

I also read the ad closely to determine if they said things like, “looks like real gold”, “feels like real gold,” “gold toned” “as well as ”gold clad”. No, it seemed really legit. “But why so low?” I said to myself. “Self did not answer me.

So, I proceeded, in my lust to actually own a real gold coin, to bid on that item. It was only 2 minutes left and I was still the highest bidder at $4.00. Certainly, this must be a mistake or a very unhappy wife dumping her husbands gold. ” I said to myself.

I won the bid!  I quickly paid for the item and went to bed. “Won’t my husband be surprised,” I said as I quietly slid in the bed besides him. I was about to wake him up to tell him the good news but decided to tell him later.

Well, I told him the next morning and we both laughed about the possible reasons why it was so low. We covered every reason except the real reason. The camera shots did not show the actual size. Nor was there a mention of the size in the ad.

When my coins arrived, very timely I must remember to say in my feedback, they were the size of my finger tips.  I finally had real  gold coins.

So, I decided to share this with all my readers that as you dip in this world of coin exploration keep learning, asking questions ask questions.

I spoke to my coin dealer the day after I purchased the coins and he predicted that they would probably be very tiny coins. He was so right.

Hope this helps someone who is still learning like me.

So, what are my lessons?

1. Don’t get greedy, sometimes if it looks too good to be true it is!

2. Ask questions from from someone who knows more than you before you buy, if they are not around-let it go

3. Ask the seller questions about the size of your coins

4. Chalk up mistakes in judgement and learn from them, just try not to make it expensive.

Ok, if you gleaned some lessons from this let me know.

Tags: gold coins, gold coins on ebay, scam gold

Some Folks Just Want the Metal From The Coins

I have discovered that some folks just want to potential or current metal from coins. They do not collect them to pass down to their grandchildren. But they collect them for a short time then flip them for the value of the metal in the coins.

For example, today silver is at 17.56 an ounce and gold is 1108 an ounce. Now, if you had coins with silver or real gold and it does not have an error or is not a rare coin then you can sell if for the value of the metal. Ok, I know that was a really long sentence but you get the point.

So, check your coins for silver content. If you have gold coins check them also for the amount of gold and the price you can get. Now, note that you will NOT get the full  value of the spot price for gold. There are other considerations like the amount of gold, etc. But just know that if you have any coins with metal value and you need the money you can get to a coin dealer YOU TRUST for advice.

Also, if you want  to know what the value of silver and gold you can check out Kitco.

Tags: gold prices, metal value of coins, silver prices

Finders of Gold 1933 Coins Wants to Keep Them

A family found  gold coins owned by their relative. The coins are  very rare will fetch millions. However, the US Mint never released them and claim they were stolen. Read more and view the beautiful coins.

I have personally never seen a real gold coin so I must make a trip to the dealer and look inside the case.

Tags: 1933 gold coins, gold, gold coins

So Want Some Tips You Can Trust on Buying and Selling Gold?

The ANA has proved to be an excellent and trustworthy resource for information on coins. So, here is an excellent article on buying and selling gold.

Let me know if you find these tips helpful.

Tags: buying gold, gold sales, selling gold

Sale of Gold Coins Limited at USMint?

Are the sale of gold coins limited right now by the US Mint?

Read this short post on coin news to find out. Be sure to also read the comments associated with the blog post. Add your comment or ask a question. That is how we all learn.

Tags: gold coins, gold sales

Can’t Find The Mint Mark?-Dollar Coins and Gold Pieces

Finally here are the locations for the mint marks on dollar coins.

Anthony Dollar= (1979-1981)-Look above Susan B. Anthony’s right shoulder.

Einsenhower dollar (1971-1978)-Look Below Dewight D. Einsenhower’s neck

Peach silver dollar (1921-1935) Look on the reverse, below the word ONE

Morgan silver dollar(1871-1921) Look below the wreath

Saint-Gaudens $20 gold piece 1007-1933) Look above the date

Liberty Head $20 gold piece (1650-1907) Look below the eagle

Tags: dollar coins, gold coins

Looking for The Mint Mark But Can’t Find It?-Quarters

Look for the mint marks on the following quarters:

Type of Quarter

Barber quarter(1892-1916)     Below the eagle

Standing Liberty Quarter (1916-1930)   To the left of the date. Not to be confused with the M for the designers name.

Washington Quarter(1932 to 1964)  Below the eagle

from 1968 to the present -to the right of George Washington’s pigtail

Tags: location of mint mark, Mint Marks, Quarters

How Much Does Your Gold Weigh? How Do You Really Know?

I just found out this week that if someone brings in coins that have a precious metal value  for  redemption that the weight is measured in something called troy ounces. This measurement is different from the ounces used for food. But it is important for you to know the measurements of coins if you ever plan to cash them in.

I wish I had some to cash in but for now I must be content in knowing that I can always refer to this post. That is another  reason I set up this site in all honesty.  Check out this excerpt on Wikepedia:

The demand for precious metals is driven not only by their practical use, but also by their role as investments and a store of value. Historically, precious metals have commanded much higher prices than common industrial metals. In January 2009, gold was about $840/troy ounce and silver was about $11/troy ounce, compared to copper at $1.50/pound and nickel at $5/pound. (soure:Wikepedia)

So I am listing a couple of references for review. Why? Because if you are getting precious metal weight YOU DON’T WANT TO GET CHEATED. Believe it or not everyone is just not honest.

Troy ounces vs the ounce you you weighed your apples

News item about gold scams and how penny weights are used

How  to sell gold

Do you have anything to add?

Tags: coins, gold, silver, troy weight