Coinblogger Twitter Weekly Updates for 2009-07-03



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3 Ways to Collect the Peace Silver Dollar

Very few people would argue that the Peace Dollar is one of the most collected and collectible coins of American mint.  Since we’re into that, we here at Coin Blogger decided to tell you something about this coin and show you 3 ways to collect the Peace Silver Dollar.

The Peace Dollar was first minted in 1921 and continued until 1928.  It was minted again in 1934 and 1935.  It was issued as a circulating coin with 0.77344 troy ounces of silver.  It replaced the Morgan Dollar and has the word “Peace” under the eagle on the reverse–referencing the commemoration of the anniversary of WWI’s end, when it first entered circulation.

Collecting the Peace Silver Dollar is not always a simple task.  There are two basic types of highly collectible Peace Dollars: proofs and varieties/rarities.  These are the cream when collecting the Peace Silver Dollar.  The coins are old enough now, however, that any example is worth getting and Peace Silver Dollar collecting is fun, no matter your find.

The only proofs recorded for the Peace Dollar were minted in 1921 and 1922.  These are extremely valuable with the latest auction selling them at $50,000 each.  Extra Fine examples of the 1921, 1928-P, and 1934-S are valued at almost $20,000 each because of their rarity.

The best bet to collect the Peace Silver Dollar is to find an online or phone-in coin auction for them.  Some coin dealers will also have them available in stock, but this is very uncommon and if they do have them, they won’t keep them for long.  There are always more buyers than sellers in Peace Silver Dollar collecting.

Occasionally, you’ll find them online in auctions, but be leary of the coins unless you can verify their validity.

Another option are estate sales, which can often have them.  A better bet, though, is to regularly attend coin shows.  Peace Silver Dollar collecting at these events can often take place as either a silent auction at a dealer’s table or in a private auction room.

Rarely will you collect the Peace Silver Dollar directly from a seller as the only person bidding to buy.  These coins are rare enough that there will always be competition to get one.  Once you do, though, you’ve entered a new realm of coin collection!



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Coinblogger Twitter Weekly Updates for 2009-06-26



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Coinblogger Twitter Weekly Updates for 2009-06-19



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Coinblogger Twitter Weekly Updates for 2009-06-12



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Coinblogger Twitter Weekly Updates for 2009-06-05



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Coinblogger Twitter Weekly Updates for 2009-05-29



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Gold Spot Prices

Gold had a slight downturn today thanks to an “upsurge” in confidence in the Dollar.  That’s not likely to last long, so while the spot price on gold has steadily (though only slightly) dropped today, it will be going back up soon enough, most analysts agree.  Gold spot prices today are at 953.50/ounce at New York’s gold price.  This is important to note for the Coin Blogger reader, even collectors.

The thirty day gold spot prices have been on the rise dramatically.  At their lowest, the spot price on gold was at about $885 in the past 30 days and now is over $950.

The sixty day spot prices on gold trends are the same, though in March gold was at an earlier high of about $940.  Like any long-term investment, the longer trend of gains is what matters here and gold is performing well in that regard.

Speaking of long term, the spot price on gold a year ago was about $920 and peaked in February at just under $1,000 and is again on a general rising trend.  The five year trend is definitely rising in a big way.  The gold price in 2004 was about $400/ounce and is now well over double that and still appears to be on a continued long-term gold spot prices upward trend.

For the coin collector, of course, the spot price on gold also directly affects the value of a given gold coin.  Even plated or heavily alloyed coins will have their price affected by current spot prices on gold.  Many of us at Coin Blogger have seen our collectible coins suddenly jump in value thanks almost exclusively to gold price trends rather than the other factors in the collectibles markets.

We’ll keep you updated on the gold spot prices as they continue, of course.

Of course, we are not investment brokers or analysts and cannot give investment advice, but we endeavor to provide the information you need to make your decisions when purchasing collectibles or bullion.



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Coin Dealers Online - Find A Good One and Stick With Him

Today I read a great story in the Daily North Western about great coin dealers online.  I loved the quote from the coin dealer of North Shore Coins.  The quote was, “Coins will come and coins will go, but customers are forever.”

I love this quote.  Too many coin dealers both online and offline look for the quick profit.  But, this is so short sighted.

The best coin dealers online know that repeat customers are worth much more than one time customers.  And, the only way to get a repeat customer is to treat a customer with respect and honesty.

But, coin buying is a two way street.  Once you find a good coin dealer whether he has an online coin store, a local coin store or is a vest pocket coin dealer, I highly recommend that you stick with him.

I love buying coins from the same coin dealers because,

  • I know I can trust my purchase
  • My coin dealer knows my wants and looks out for them
  • He finds me great quality items to add to my coin collection

Through building this relationship, my coin buying experiences are always better now.

What do you look for in a coin dealer online?



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Silver Bullion Prices Rally

Wow, what a week for silver bullion prices.  Silver and gold prices went up 5.3% and 3.3%, respectively.  Those are pretty big rallies in one week for the bullion markets.

The price of silver is at a 9 month high.  But, what caused this rally?

I think that the biggest reason for silver and gold prices going up is the weekness in the US Dollar.  The US Dollar declined rapidly this week and when this happens, investors look for ways to move money out of a declining Dollar and into commodities offering more price stability.

We will have to see whether the silver bullion prices continue to rally this week or whether people sell off their silver positions.



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