Author Archives: admin

Gold vs. Silver – What Should You Invest In?

gold_silver_picture
If you asked a random person whether it’s better to invest in gold or silver, gold would probably be the most common answer. It’s GOLD after all – it’s so valuable, right? It’s the stuff that pirates dreamed about! While gold is usually a smart investment, silver can be even better. However, both metals have their advantages. Read the short rundown below to find out more.

Why Buy Gold?

Gold can be purchased in a few different ways – coins, bars, jewelry that contains gold, etc. Simply put, gold holds value. Given the fact that gold currency has been around since 800 B.C., this is a mere fact. But first you must understand, gold is not money.

So what’s the main reason you might want to buy gold? The price of course. Gold prices have gone up in recent years. That means that production has increased as well. And what does that mean for demand? It’s almost certainly not going to dip. What this all equates to is simple – buy gold now, because it’ll only cost you more in the future.

Gold is a private investment. Nobody is keeping track of how much you own. And with the economy the way it is, it can also be a wise, safe investment. Investing in it can increase your wealth when the economy isn’t doing well. Think about this. The market crashes. All you have is worthless paper money. Wouldn’t you then be happy you invested in gold?

You’ll never hear someone say, “Invest half your savings in gold.” That’s far too much. But you will hear people talk about the importance of gold when slightly diversifying your portfolio.

Why Buy Silver?

There’s no doubt gold can be a great investment. And although silver is often the symbol of “second place”, many consider it an even better investment. The main reason being: there’s less investment grade silver available than gold. Most of the same theories that apply to gold investment apply to silver as well. It’s an investment that can protect you if something disastrous happens to the economy.

What silver also possesses, though, is practical, everyday applications. It’s used in computers, cameras, jewelry, and many other products. So if it’s readily available, why is it a good investment? There’s the catch – it’s not as readily available as you may think. So much silver is being used for our everyday wants and needs, and the supply is decreasing.

So there you have it. Both gold and silver have their advantages. Speak to a financial professional if you’re interested in investing!

Note: The information above is not investment advice from The Great American Coin Company.

Gary Dyner is the owner of Great American Coin Company. Connect with him on .

Share

How to Start Collecting Coins on a Budget

coin_collectors
As a coin collector myself, I could write a novel about why people should start coin collecting. But I’ll spare you the time and keep it simple. There are a few reason coins are the most popular thing to collect. They’re small, so they won’t take up much space. They can appreciate in value, so one day you might just strike it rich. And it can be an inexpensive hobby to start. That is, if you’re doing it right.

Coin collecting is also not a hobby that’s a “dead end”. What do I mean by that? You don’t need to collect coins forever if you don’t want to. Money is money. Coins will (almost) always be worth something, and they’re easy to sell.

Here are 5 ways not to break the bank when collecting coins.

Step #1 – Set A Budget

Let’s get the obvious step out of the way first. As with almost anything in life, you need to set a budget. Would you ever buy a car without knowing your max price? Would you ever go to the grocery store not knowing whether you’ll spend $20 or $200? The same goes for coin collecting. Set a reasonable weekly or monthly budget that won’t interfere with more important expenses. That way, you won’t end up like that guy who owns 100,000 unscratched lottery tickets simply because he got a little too into his hobby.

Step #2 – Start With The Right Coins

You’ve heard the saying – “You can’t build a house without the foundation.” The same goes for coins. You shouldn’t spend $100 on a coin if you’re just starting out. If you’re taking my advice, cover the basic coins first, and build your collection from there. Get some Kennedy Half Dollars, some Susan B. Anthony Dollars, and other coins you see from time to time. After that, buy the coins you rarely have a shot at getting as change. A mercury dime is a good example of this. After you get the simpler, less rare coins out of the way, then move on to the heavier hitters – like silver eagles, for example.

To put this into perspective, think about baseball cards. A collector wouldn’t buy a Babe Ruth card right when they start collecting. They’ll build their collection, so they really appreciate the Ruth card when the right time comes to buy it.

Step #3 – Check Your Pocket Change

ALWAYS check your pocket change. You can never be absolutely sure that a valuable coin won’t turn up in your change. You can also go to your local bank and buy rolls of coins. However, this is easier said than done. Banks will often make it difficult for you to buy a roll of coins. Try your hand at smaller banks, or be polite but firm that you need the rolls and it’s a fair request. It will always help to build a good relationship with a bank as well.

Step #3 – Buy Displays

Lets face it, a lot of people collect coins so they can show them off. Nobody is going to be interested in your coin collection if they have to wait while you dig through a shoe box, looking for a certain coin. It’s much more impressive if you have a coin folder or collecting book that will keep the coins in good condition, while perfecting that polished collection “look.” These things are cheap, too!

Step #5 – Become A Trader/Seller

Coin collectors are not in love with every single coin they own. It’s a fact. Maybe it’s the grade of the coin. Maybe it’s the value.  Whatever it is, there’s no reason to hang on to a coin if it means nothing to you. Trade and sell coins so your overall collection doesn’t lose sentimental value as it gets larger.

Gary Dyner is the owner of Great American Coin Company. Connect with him on

Share

Tips for the Ultimate Easter Egg Hunt

moneyegg

This year Easter is on Sunday, April 20th. That’ less than one week away. We know you’ve probably got a big dinner to organize, or some traveling to do, but there’s one thing you have to remember (if there will be kids in attendance). The Easter egg hunt. This year, don’t throw the hunt together last minute. Make it one to remember with these tips:

 

Money Eggs

Everyone knows the eggs with money are best ones – no questions asked. Nothing beats finding a couple bucks in an egg when you’re a little kid.

Want to make it more fun? Instead of throwing a couple bucks in an egg, what if you used a $2 bill? Or instead of using regular quarters, what if you used some mixed 90% silver U.S. coins? The options are endless, and putting unique currency in the eggs can be a great starting point to discuss coin collecting with the younger ones.

Tip: Paint one egg golden. This will be the “jackpot” egg. Fill it with gold coins and golden-wrapped chocolate.

Treasure Map Hunt

FACT – kids love treasure maps. Draw up a map of your house and lawn, then draw circles around the general areas in which the eggs are located. Make sure you have copies of the maps to hand out to everyone. Then, hide the eggs in the areas you specified. Make sure they’re all filled with candy (so everyone gets something). The person who finds the most eggs wins the grand prize – may we suggest pirate coins?

Message Eggs

Most eggs have either money or candy in them. Sometimes they’ll even have a temporary tattoo or a little piece of jewelry. But have you ever tried putting messages in eggs? Write up anything you want on a little piece of paper, and then put it in the egg. Here are some ideas:

“Good for one day off from chores”
“Good for three pieces of candy”
“Good for 40 nickels”
“Check behind the couch for the jackpot egg”

Reverse Easter Egg Hunt

Admit it…Easter egg hunts are fun. Don’t you wish you could still do them? Well…you can! Have the kids put whatever they want in the Easter eggs; then they’ll hide them. The adult who finds the most eggs gets a prize.

Gary Dyner is the owner of Great American Coin Company. Connect with him on

Share

What is Coin Grading?

Loupe-triplet-30x-0aCoin grading is the process of determining a coin’s value. Grading depends on a few things. First, how well the coin was originally struck. Second, how well the metal has been preserved and last, how much wear and damage the coin has suffered since it was minted. Coin grading can be difficult for beginners. Here are the basics of coin grading:

70-Point Grading Scale

The Sheldon Coin Grading Scale is a 70-point grading scale used to determine a coin’s quality. A slightly modified form of the Sheldon Scale is used today by all the major coin companies, including the Numismatic Guaranty Corporation (NGC) and Professional Coin Grading Service (PCGS). The 70-point grading scale ranges from a grade of Poor (P-1) to Perfect Mint State (MS-70). Over time, coins vary in degrees of “wear” from circulation. Therefore, coin grades are based primarily on eye appeal, quality of luster and/or toning.

Circulated Coins

Circulated coins are those that have been used in daily commerce and have some wear from person-to-person handling. Once a coin enters general circulation, it immediately begins to show signs of wear. Luckily, circulated coins are the easiest to find and grade. Circulated coins are graded as follows: good, very good, fine, very fine, extra fine, and about uncirculated.

Uncirculated Coins

Coins that have never been in circulation are referred to as uncirculated coins. These coins may have been stored in their original mint sealed bags or in wrapped rolls. As a result, they display no wear from general circulation. Uncirculated coins have great quality and scarcity, which means they’re high value. Most uncirculated coins range from MS-60 to MS-70. For most, it takes years of experience to become an expert at grading uncirculated coins.

Proof Coins

A proof coin is stuck using a special minting process, which removes any and all imperfections. You will never see proof coins in circulation. They have a mirror-like finish and are inspected to rigid standards. Proof coins are only handled with gloves or tongs before they are specially packed for collectors. For this reasons, proof coins are worth much more than their face value.

Gary Dyner is the owner of Great American Coin Company. Connect with him on

Share

Welcome to the Great American Coin Company’s Blog!

header-coinHello, coin lovers!

Welcome to our brand new Great American Coin Company blog. We’re happy to have you aboard!

In the coming weeks, months and years, we’ll be using this space to share with you some of our knowledge of and tips for coin and artifact collecting, as well as respond to your comments, questions and suggestions on any posts we may publish! We’re looking forward to using our new blog as an opportunity to reach all of you, our loyal customers and fans, on a whole new level – by giving you the information you’re looking for!

Bear with us for a bit as we get the blog up and running – it will take some time, but we promise to make it worth your wait! In the meantime, feel free to browse our website, or contact us if you have any questions or suggestions for a few of our first posts. After all, you’ll be the ones reading this, so we want to write about what you want to hear and learn more about!

Thanks for stopping by for now, and we’ll be back soon with some great content on one of America’s favorite hobbies!

Share