Where Can You Sell Scrap Gold & Silver?

Do you have jewellery you no longer need or use rarely? Maybe it is about time to consider selling them to make extra money. You have plenty of options when it comes to selling scrap gold and silver; all you need to do is know where to look.

Collectors

Some collectors will purchase or trade for the old scrap and silver you have. Items such as old watches, jewellery, medals, coins and other items still have value to certain people. You may not know about it, but the item you have may be more valuable than you think. Collectors may want your scrap items because they want to add it to their collection.

These items may be rare, no longer sold or are a piece of a bigger collection. Look for these collectors online or go to shows. They might be willing to pay more for your scrap items if you are unwilling to make a trade.

Jewellery Stores

Jewellery stores may pay good money for scrap gold and silver, as long as they are pure with few other metals and substances mixed with them. Old watches, rings, earrings and other pieces of jewellery with a high silver and gold content will fetch a high price.

If the watches or jewellery you sell contains other precious stones, they will have an even higher value.

Recyclers

Gold has a high resale value because it is malleable and recyclable. Recyclers melt gold jewellery to reform them into other products, making them valuable again. Even if your old jewellery has a low gold or silver content, a recycler is an ideal option as there might be jewellery stores unwilling to take your scrap silver or gold.

Online Shops

It is now easier to find someone willing to buy scrap gold and silver because of the prevalence of online stores. Several sites offer great deals on old watches, jewellery and other items made from precious materials. All you need to do is sift through the excess to find the right store willing to buy your items at the price you want. You might want to check out Colonial Acres when selling your scrap gold and silver.

Before You Sell

You need to know the weight and the metal content of the items you plan to sell to get an overall idea on how much they are worth. High gold or silver content will fetch you a higher price for the items you want to sell. If the items you sell have a high purity rating, they will also get you better value. Have your items appraised to give you a clear picture of their worth.

Where Can You Get Coins for Your Collection?

Are you an advanced numismatist or just starting a collection? For both types of collectors, you have several options when it comes to finding coins to add to your growing collection.

Loose Change

The first thing you check for coins you find interesting are the ones you already have. Sort through the coins you have and find one you like to keep. Look for the change your older relatives might have, you may discover an old coin minted decades ago.

Specialty Shops

Shops that specifically sell old coins are the best place to find all sorts and ages of coins that you want for your collection.

Many shops sell commemorative, new and old coins that might interest you. They also sell various coins that fit any budget. Some shops have a bargain section if you want affordable coins to build your collection quickly. However, do not expect to find rare coins in this section.

Some shop coin owners are also willing to talk about their hobby with you. If you are a beginner, you learn a lot from talking with shop owners. Get tips about how to identify fake coins and determine the value of your collection.

These shops can be retail shops or online, both can have good sources of coins to add to your collection. Check out Colonial Acres for online coin buying and selling.

Other Enthusiasts

Other coin collectors may have the coins you cannot find in shops or at shows. However, you have to convince them to sell you the coin they might have had difficulties acquiring. You might have a coin they want, make a trade or sweeten your offer with cash. You can meet other enthusiasts in shows or clubs.

Coin Shows

Check for any scheduled coin shows in your area or outside. Shows will help you find the coin you are looking for because several dealers will be in one place. If you are not buying, a show might be the best place to compare prices of different coins. It may also allow you to improve your coin grading skills.

Auctions

Coin auctions are a great way to find a rare coin that you want to add to your collection, because collectors are looking to sell their coins. Auction Houses, Online Auctions and Mail Bid Sales are good places to start looking.

Place a bid by mail, phone or attend in person. Make sure to study and understand the terms of the sale, return policies and fees that you may incur by joining the bid.

These are some of the places to find coins for your collection. You can also find the coins you are looking for through mail order service, online stores, flea markets and others.

Coin Profiles: The 1804 U.S. Silver Dollar

It is sort of a wonder how minting mistakes can actually produce many of the rare coins today. One of these coins are the 1804 US Silver Dollar.

Although the date on the coin indicates that the silver dollar was struck in 1804, no silver dollars were actually made from 1804 to 1834. The 1804 US Silver Dollar was actually struck in 1834 under the orders of President Andrew Jackson. Proof coins were minted to serve as presents given to the heads of some Asian nations. The reason why these coins are dated 1804 instead of 1834 or 1835 is because the officials of the U.S. Mint misinterpreted the law and thought that for these coins to be legal they need to be marked with the date 1804.

There are 3 Classes of 1804 US Silver Dollars. The first class, Class I were silver dollars minted in 1834 or 1835 for diplomatic purposes. Two Proof sets of the 1804 silver dollars were delivered by the US Envoy. One was sent to the King of Siam (Thailand) and one was delivered to the Emperor of Muscat and Oman, which is now known as the Sultanate of Oman. More sets of these proof coins must have been sent to other kings or heads of the Asian countries. Class II sets were the only ones with a plain edge, and were struck after 1857. Class III sets were also struck after 1857, but these coins have lettered edges and a rust pit in the afore-mentioned place on the reverse.

There are 8 specimens for Class I sets, 1 for Class II and 6 specimens for Class III. Class I specimens include the U.S. Mint Specimen, The Stickney-Eliasberg, The Cohen-ANA, The Mickley- Reed Hawn, The Parmelee-Byron Reed, The Dexter, The Watters-Childs, and The King of Siam Speciment known as "Brilliant Gem Proof" by Breen. This Class I Proof Set features the Lettered Edge.

Class II set features a new reverse design and a plain edge which was struck over an 1857 Swiss Shooting Thaler. The only specimen for class II is the U.S. Mint one.

Class III features a new reverse and the lettered edge. Specimens are The Berg-Garrett, The Adams-Carter, The Davis-Wolfson, The Linderman-DuPont, The Rosenthal-ANS and The Idler-Bebee Specimen.

These 1804 silver dollar coins are a prized rarity in the coin collecting business. Aspiring collectors could take inspirations from these eager and successful collectors and start their own coin collections. Who knows, maybe one day your collection's value could provide you some good investment. Whether you are a starting collector or a professional and keen one, a reliable numismatic firm is always a good support. Be sure to scout throughly and choose the ones who have been in the industry for decades like us.

Colonial Acres provides good quality coins and holds sales every now and then, and is also backed up with at more than twenty years of service to the coin-collecting crowd. Start your own collection with the Colonial Acres Coin shop and be a more experienced and knowledgeable coin collector.

Coin Profiles: The Seated Liberty Dollar

Numismatics, or the collection and study of coins, paper money and the like, is one of the oldest hobbies worldwide. At the start, it was only the royals, such as the emperors of Rome, who engaged in the hobby of coin-collecting as it was very expensive to maintain. As time passed by, coins have become more and more accessible and have become primary means of trade, thus making the common John consider this extremely rewarding hobby.

How do coin collectors get rewarded with this venture?

For one, coins are extremely saleable with their face and monetary value. However, the fulfillment that numismatists, or coin collectors get, is when they start raking in coins that have exemplary stories to tell about the time when it was circulated or the historic events that came with it.

Talking about history, the 1800s featured many significant milestones in the field of numismatics. One of the more popular coins minted during this time was the Seated Liberty Dollar. The Seated Liberty Dollar was designed by many popular names; one of them was Christian Gobrecht, the third Chief Engraver of the United States Mint from 1840 until he passed away in 1844. As the name suggests, the Seated Liberty features Liberty sitting on a rock with her flowing robes. On the other side, it features an eagle holding an olive branch with its right claw and three arrows with its left claw.

There are two-versions of the Seated Liberty Dollar – the first design in 1840 does not reflect any motto at the reverse side where they bald eagle is located. There is another design that went out on 1866, which contains the motto “In God We Trust” reflected in a ribbon right under the United States of America text and on top of the eagle.

The Seated Liberty Dollar is 90% silver and 10% copper and was circulated from 1840 to 1873. This coin is the last silver coin minted for that specific denomination until the Coinage Act mandated the end of the production of silver coins temporarily by 1873.

It is extremely rewarding to have a collection. The joy of being able to add more and more to your current stash is something that all collectors can relate with. Much more so when the time comes that they are able to put value to the thing they have put much effort into. If you are looking for a hobby that you’d like to embark on and you have a strong inclination towards history, then coin-collecting is for you. If you wish to look for a numismatic firm that can provide you with a wide range of options as well as resources to get you started on your coin-collecting hobby, try Colonial Acres Coins!

Coin Profiles: The 1913 Liberty Head Nickels

For many years, coins have been made with the sole purpose of public distribution and circulation. It is also known, however, that because of some important events in history that regards with the general economy and the succession of power, some coins were created in very low quantities. Some maybe made during the Great Depression, or some unexpected abdication of throne, or simply just from unreleased coin dies and were, therefore, deemed unofficial.

These rare coins are prized highly in present day numismatics. One of the most valued coins today is the 1913 Liberty Head Nickel. It was produced in extremely low quantities since it is in the year 1913 when Indian Buffalo head nickels were produced. The new design was used since February, and it replaced the Liberty Head design. Because of this, all 1913 nickels were believed to be with the Indian Buffalo design.

It was not until Samuel Brown, an American numismatist, displayed an ad to buy these coins at a $500 USD value in 1919 that the existence of these coins was in question. In a numismatic convention in 1920, Brown displayed the five known 1913 Liberty Head Nickels, and from then only five of these coins were known to exist.

In 1972, one of the five Liberty Head nickels were sold for $100,000. In 1996, it was the first coin to break the million dollar barrier. In 2003, one was reportedly sold for a value under $3 million and in 2010, the Olsen piece was sold for $3.7 million at a public auction. Today, two of these rare nickels are under museums, while three are in private collections. The five Nickels are:

1. The Norweb Specimen, which is currently in the Smithsonian Institution
2. The Olsen Specimen
3. The Eliasberg Specimen, currently graded PCGS PR64
4. The Walton Specimen, the finest known and is currently graded PCGS PR66
5. Mcdermott Specimen, currently in American Numismatic Association Money Museum.

The reason why these 1913 Liberty Head Nickels are most prized isn't because of rarity alone. There are much rarer coins like the 1870-S Half Dime and 1873-CC Without Arrows Dime. What makes the 1913 Liberty Nickels a prized rarity in numismatics is because of the mystery of how they were made and who owned them before Brown took a hold of them.

The 1913 Liberty Nickels are also considered the Mother of Hype coins. It is because of the mystery surrounding the coins that millions of collectors have become very eager to get one. Because of this, the nickels' value has skyrocketed to millions and has become one of the most prized coins in numismatist history.

Coin collection requires a keen eye and a thing for future trends to make it into a valuable and rewarding business. Coin collectors, back in the days, were rich businessmen who used the coins as an investment or a family heirloom. Today, anyone can start his or her own coin collection. With the help of a reputable coin shop like Colonial Acres Coins, you are sure to get a head start at coin-collecting and be a coin enthusiast in no time.

Understanding Coin Toning

Toning might make your coins look better, but there is a chance that it may lose value despite its new sheen. Valuing a coin based on its toning presents problems for the collector.

Is the coin more valuable or not after toning?

What is coin toning?

Toning describes the light patina or discoloration that appears on the surface of a coin because of the oxygenation of the chemicals in the air. The level of the tone depends on the metal. This process may take months or years; you shouldn’t worry about it if you stored your collection properly.

Toning is a natural process, especially if the coin is decades old. It may take centuries for a coin to reach its least attractive and darkest look.

Will toning add value to your coin collection?

Several factors affect the value of a coin, but the highest value goes to coins that retained their surface appeal. If a coin is unattractive, unless very rare, no one will likely purchase them and their value low; an attractive and toned coin will be worth more.

As the cliché goes, beauty is in the eye of the beholder. Coins with a natural shine to them will always be worth more, but there is also a market for naturally toned coins. Always remember that the value of a coin will rely on its natural look, especially if it is a rare or old coin with limited mint.

What are the toned coins you will likely see?

The toning of a coin will depend on the type of metal. Older coins will display more color variation because of the less pure metal and multiple blends to produce it. Some metals also react faster and tone easier when exposed to certain environments.

1. Copper – the tone you will likely see is an orange to reddish-brown sheen to a full brown to almost black.
2. Gold – the coin will be bright yellow to orange, in some cases, the coin will look reddish.
3. Silver – the tone will be bright silver to brown or black. In some cases, you will see rainbow-style colors on the surface of the coin, which add to its value.
4. Nickel – the coin will have a silvery appearance to a grayish tone.

Toning is a natural process, but there are “coin doctors” who artificially tone a coin to increase its value. Watch out for these types of coins to avoid a scam. A coin that is artificially toned will not be as valuable as a naturally toned coin.

Find out more about coin toning and other essential tips for your coin collecting at Colonial Acres.

Starting a Commemorative Coin Collection

A commemorative coin is unique because it was designed to honor an event, landmark or person. The United States has been producing this type of coin since 1892. Since then, there are hundreds of gold coins, dollar coins, half-dollars and special quarters with the intention of commemorating special people, places or events.

The Value of Commemorative Coins

Commemorative coins vary in value as some are more valuable than others. Proof 5-dollar commemorative gold coins can have a price tag of hundreds of dollars, while circulation grade 50 States quarters have a face value worth. Early commemorative coins can be as low as $20 or $30 for the 1892-93 Booker T. Washington, George Washington Carver and Columbian Exposition half dollars. 1935 Spanish Trail and the 1928 Hawaiian half dollars can be as expensive as $1000 or more.

What is the difference between non-circulating and circulating commemorative coins?

Coins from the U.S. Mint are legal tender and some are in circulation. There are coins, which are for sale only and are not circulated. Two examples of commemorative coins in circulation are the 1976 bicentennial coins and 50 state quarters. Non-circulating commemorative coins are the 1986 Statue of Liberty coins and Olympic coins struck in 1996.

What is the purpose of commemorative coins?

These coins recognize and honor important places, things, animals, events and people. Some organizations use these to raise funds and awareness for their causes or certain individuals, things, places and others that appear on the coin.

How do you start collecting commemorative coins?

The U.S. Mint has struck several commemorative coins since 1892; you can find the coins you want to add to your collection easily. Completing the collection of commemorative coins is an expensive endeavor that is why others just collect coins that interest them or a special event that matters to them.

Coin collecting can be a fun hobby, if you know where to look for coins and how to detect fake ones. Buy recent commemorative coins from the U.S. Mint and older ones from coin dealers.

The first thing you do when you start your collection is to identify what you like. Collecting by theme is a creative way to build your coin collection and makes finding what to add easier. Are you interested in commemorative coins from a certain country or a certain year? A theme keeps you on track and with a goal.

You can also collect coins based on the metal they were struck in such as copper, gold, silver or others.

Start your collection with commemorative coins, as they are unique and quite valuable when you resell them. Find out more about this at Colonial Acres.