Coin Collecting Information

Muna wa Wanjiru asked:


Coins are generally hard round pieces of metal that are used as currency and have ben used this way for centuries together. Coins are issued by the banks or Government . Coins are used for day to day circulation in daily life. Lower denomination are in form of coins where as higher denominations are issued in form of bank notes .

The gross value of the metal used in coins is much lower than the face value of the coin.

Exception to the currency coins are the Bullion coins ,coins made out of precious metal like gold silver and platinum. These coins are not used for currency, gold coins and silver coins as currency was ceased in 1933 when the gross value of the coin became higher than the face value.

Gold and Silver coins are not produced only as souvenirs or as collectors item or for investors.

Gold and Silver coins being very valuable are mainly produced for coin collectors ,or for investors who purchase these coins to safe guard their savings. These valuable coins are a good way of liquidating your investments ,in the United States financial planners are known to advice their clients to put at least 40 % of their savings in purchasing these Gold and Silver Bullion coins.

Every country mints Gold coins for their investors as well as coin collectors.United Stats mints the American Gold Eagle.Canada is known to mint the very popular Canadian Gold Maple Leaf.

South Africa is known to mint the not so popular in demand the Krugerrand.

The face value of the U.S Eagle is 10$ ,though In this case the face value makes no difference as the gross value of the coin is much more ,the coin in this case is valued as per the prevailing market price of Gold metal. The Canadian Maple Gold leaf also has a nominal face value.

A great number of metals are used for the production of coins ,metals and alloys of all kinds are used for minting coins , earlier valuable metals like gold silver and platinum were used which then became collectors item or Bullion coins ,for currency the use of copper came into practice this too at some point when the metal value of copper increased had to be ceased after copper Nickel was very popular for small coins of cent and quarter .Nowadays steel is used practically for all the coins ,though plating and coloring of different kinds are given to create differentiation among the coins.

There are many types of coins

Currency coins are the ones used for day to day circulation ,the face value of these coins is the market value of the coin ,the gross value of the coin is lower than the face value.

Bullion Coins -Gold and Silver coins ,the coin value of these coins depends 100%on the market value of the metal ,a gold coin is priced as per the prevailing rate of the gold metal .Bullion coins are valued as per the cost of metal their standard weight as well as their purity. These coins are no more used In circulation, they are used as investors item .

Rare antique coins

These coins are collectors item , the value of these coins is determined by the rarity the age the condition the date of issue the mint mark of the coin . If the above criteria’s are not met with the coin ,the coin is graded with a low grade and the market value of the coin is relatively low.

Certain coins have historical significance to their presence and such coins whatever be the condition are well priced n the collectors market.

Coins have been a part of our lives from the 6th century BC ,the first coin was minted by the Mahajanapadas of Indo- Gangetic Plan since then coins are an essential part of lives either in form of currency or In form of Bullion coins as investment.

Coins - go figure - and enjoy!

Muna wa Wanjiru asked:


Gold Coins rock, no doubt about it. Coins have been one of the oldest forms of money ,especially Gold coins Centuries ago Gold coins were used for money transaction, the usage of Gold coins as principal form of money was persistent for a very long time .Somewhere around 1933 most countries stopped using gold coins as their currency for money transaction.

The history of Gold coins goes back to 560BC , the first gold coins were invented by a Lydian king, King Croesus.Today Gold coins may not be a part of our currency, but are a major form of investment.

Gold coins are known to be the safest and most risk free form of investing ones savings.

Value of a the Gold coin depends on numerous factors such as its rarity uniqueness ,its history and its condition ,the amount printed on it also can throw some light on its value.

In 2002 July at Sotheby’s a very unknown antique 20$ Double Eagle Gold coin was sold for a remarkable price of $7,590,020 ,till date this is the most valuable coin ever found.

Gold coins which are used for investments in today’s times ,can be bought fro Banks or Jewelers, the value of these coins depends totally on the market value of metal gold .

With the constant up and down in the economy ,prices of Gold too keep fluctuating. Every country today has its own mark of Gold coins ,these coins are embarked with the countries specification. For example United States is known for its American Eagle Coin ,Canada for its Maple leaf Gold coin, Australia for its Australian Kangaroo Gold coin China for its China Panda Gold coin ,Austria for its Austrian Philharmonic Gold coins South Africa for its Krugerrand Gold coin and Europe for its Euro Gold coin, Switzerland for its Swiss Vreneli Russia for its Russian Chervonets UAE for its Gold Dinar..

The American Gold Eagle is the official gold ingot of United States ,certified by the Gold Bullion Coin Act 1985.This Gold coin was first coined I 1986 by the United states Mint .This coin comes In various denominations and is made in 22 carat fine gold.

Canadian regime in 2007 coined a 100kg gold coin ,pricing it at $1,000,000,though the gold market rate was $2milion at that time .This gold coin was produced to promote a new range of

Canadian Gold Maple Leaf coins.

Gold coins ca be collectors gold coins with high market value for its historical significance or gold bullion coins which are nowadays used as a safe risk free form of investment.

Gold ingots OR Gold coins are made in variations of Kilograms or Ounce ,I Kilograms they can range from 5gms onwards ,I ounce it is half ounce ,quarter and one-tenth ounce.

These gold coins do not have a printed value o them as the value depends on the weight of the coin and the current market rate. Gold under ISO 4217 has an international currency code of XAU.

Most countries have one design printed on their gold coins ,which remains constant every year ,some countries also produce new prints on their Gold coins for showcasing the significance of that particular year ,as every coin in most case has a date printed on it.

Nowadays ,Gold colored coins ,coins not made out of gold have made an appearance in currencies of many countries.

Gold Coins - hold on to ‘em!