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Numismatists Article Of The Month
Gold Coins
By Eric Morris
For thousands of years, gold coins have been used as currency in many cultures. It is believed that the first gold coins used as currency were produced somewhere between 560 and 547 B.C. by King Croesus of Lydia. Ever since then, gold coins have been used by countless other civilizations as a form of currency. Gold coins today are used by some people as a form of investment.
Many investors believe that investing in gold coins is safer than other forms of currency is because of its security. The currency of any country has the risk of devaluation and inflation. Gold is independent from political or economic variables that are associated with other forms of currency. Gold has also been historically seen as a precious and valuable commodity. Years of historical record have proven that gold is reliable in keeping its value. In fact, it has shown that it has the tendency to increase in value.
It is believed by some investors that they best way to protect their portfolio during the troubled times that we live in is to invest in gold. With fears of another terrorist attack, there is also fear of a crash in the stock market, as well as a prospect of a recession. Their fears of economic instability can be put at ease by the stability gold coins offer.
Gold is not confined to any particular country. It is traded globally, and it is easily liquidated at any time. The demand for gold is constantly on the rise, causing the price to rise along with it.
Despite the conservative and secure nature of investing in gold coins you must be careful where you buy them. You must make sure you buy from a reputable and licensed gold dealer. There are plenty of places that will sell you low quality merchandise, and they can cheat you out of your money.
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Gold Coins provides detailed information on Gold Coins, Rare Gold Coins, Sell Gold Coins, Buy Gold Coins and more. Gold Coins is affiliated with Gold Teeth.
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1862 U.S. Legal Tender $1 notes. The cost of the Civil War was huge in dollars and lives. To finance the war both North and South turned to paper currency issues. The Union issued $1 and $2 currency notes beginning in 1862. A second issue of 1862-63 added $5, $10, $20, $50 and $100 notes. Unlike the contemporary Confederate issues, the Union notes were printed in smaller numbers with better specie backing. As the war progressed the notes traded at only a percentage of their stated values; but they also traded at a major premium to Confederate notes. Today Union notes are much rarer than most Confederate issues. The $1 note is the most common. Depending on condition these notes usually sell for between $100 and $1000.
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Gold accounts can be started with major banks. Typically those speculating in gold usually resort to this sort of account with commodity brokers or private bankers.
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Perhaps the most fascinating field of Canadian Numismatics is paper money. The issues to be collected and studied extend from the card money of 1685 up to the present period, and include issues by a number of Colonies (Provinces) prior to Confederation, local governments, private, and chartered banks, business institutions, the Dominion of Canada and the Bank of Canada. Many collectors also include merchant notes or 'bons', education notes issued by Business Colleges, notes issued for political purposes and advertising "bills".
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Most U.S. National Bank Notes are relatively inexpensive, although the range in value is quite large. The definition of "common" may also not be typical with National Bank Notes, as a note from a bank with only a couple of dozen notes known may be considered "common." This is because, while there only may be a limited number of notes known from a specific bank, more than 14,000 National Banks were chartered to issue these notes, and no single collector can reasonably hope to own them all. As such, most collectors specialize in a single state, city, or even bank. As a result, there may only be a small number of collectors interested in notes from a particular bank, so supply and demand is the overriding factor in value. A note from a bank with as few as five or six notes known may only be worth a small amount of money if only two or three interested collectors are in the market for such a note. The standard reference book to National Bank Notes, by Don C. Kelly, is a must for research on this series of notes.
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Although central banks do not generally announce gold purchases in advance, some, such as Russia, have expressed interest in growing their gold reserves again as of late 2005. In early 2006, China, which only holds 1.3% of its reserves in gold, announced that it was looking for ways to improve the returns on its official reserves. Many bulls hope that this signals that China might reposition more of its holdings into gold in line with other Central Banks.
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Labels: rare and collectible gold coins | u s gold coins | world gold bullion coins | 2003 proof gold coins
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