Is Now a Good Time to Start Investing in Silver?

Silver Investment

 

What is Silver?

Pure silver is a chemical element with metallic properties. It can be found on the periodic table under the symbol “Ag”, which is short for argentum, the Latin word for “silver”.  Silver is a soft, white, lustrous or “shiny” metal which makes it very desirable for uses in high quality jewelry.

Silver has been valued as a precious metal since antiquity. It can be found buried under the surface of the earth in it’s pure form, without the need for complex refinement processes prior to smelting, making it valuable to humans since prehistoric times.

Silver has been used a form of currency, finding application in numerous bullion coins, alongside gold and copper.

Silver is a versatile metal that finds its application in various art forms, including busts, sculptures, and figurines. It is also used to create ornamental household items like serving trays, vases, coffeepots, eating utensils, and cutlery. Additionally, silver is utilized in the production of handheld mirrors and musical instruments such as flutes.

Silver also possesses natural antibacterial properties and thus has applied medical uses such as surgical tools and bandages used to treat infections.

Silver is an excellent conductor of electricity making it very important in the manufacture of electronics.

 

 

What is the Long-Term Investment Outlook for Silver?

We can’t know for sure, but many investors are bullish on the long range speculation about the value of silver. They point out historical prices of silver and the overall supply and demand as indicators that influence their decisions.

Is now a good time to start investing in silver?

While it is impossible to predict what will happen to the price of silver in the future,  there are several known factors that influence the price, and understanding these factors will help you determine where the price is headed in the near term. Silver, like gold, can be a strategic hedge against the volatility of other investments.

When governments print an excess of paper currency, the value of silver increases. Silver is often considered a safe refuge in times of heavy inflation. And when demand for silver increases from other uses such as electronics and medicine, the investment potential also increases. Consider the fact that silver is used in the production of Solar Panels. Due to the government mandates in states like California, where every new house that is built must have solar panels, by law, the value of silver can reasonably be expected to increase as demand rises.

If the global supply of silver increases due to mining exploration, however, the price can go down which will impact the value of silver as well. Buying silver is therefore not without an element of risk to investors. Careful caution and consideration must be taken when making any investment decision.

What are some of the most popular investment strategies that silver coin investors employ?

1. Buy and Sell

Many people who buy silver enjoy the fact that they can later sell the silver for cash if they ever need to. Other people try to buy and sell silver strategically in an effort to maximize their investment returns. A popular, but impossibly difficult strategy to perfect, is to attempt to “time the market”, which means you try to buy silver at a low price and wait patiently for the market price to rise. Then, at the exact moment of peak value, you sell the silver to extract the best possible return on your investment.

2. Buy and Hold.

Many disciplined and experienced investors claim the best strategy is to “buy and hold”: You buy the silver, and never sell it. This, of course, only works if the market has more increases in value than decreases over time, which, for silver, seems to be almost certainly the case.

3. Retirement Accounts.

Many investors are using an investment vehicle known as a Precious Metals IRA to store silver and other precious metals and bullions in their retirement accounts. Combining both gold and silver in your IRA can act as a powerful hedge against other assets and securities taking the form of stocks, bonds, cash, and real estate that are being saved for retirement.

What is a hedge?

A hedge is an investment strategy that acts as a failsafe by spreading the risk between primary and opposing positions. Think of the old adage “Don’t put all your eggs in one basket”. If all of your eggs are in one basket, and you accidentally drop it, all of your eggs might break. But if you put your eggs into two baskets, and one of the baskets is dropped, your other basket of eggs will be unharmed.  You’ve spread your risk around, therefore decreasing the risk of losing all your eggs. This basket of eggs principle can be applied to investments and is known as “diversification”. A hedge takes the diversification strategy one step further by choosing a second investment (the “second basket”) that will likely increase if your primary investment decreases.   If one of your investments goes down in value, your hedge is likely to go up, protecting you from a scenario where your investment portfolio as a whole becomes worthless.

How much does silver cost?

The price you pay for silver bullions will vary widely based on who is selling them. Most coin dealers will charge you a modest premium on top of the spot price. California Gold & Silver Exchange is widely known for offering some of the fairest premiums in the region, while other national companies will reportedly upcharge coin buyers more than 30%.

At the time of publication, the spot price of silver was $22.67 (USD). Compare that to 30 years ago, when an ounce of silver was trading at just $5, and held at that price steadily for more than a decade.

30 Year silver Price History in US Dollars per Ounce

Following the economic collapse of 2008, the price of silver increased in value nearly 10 fold, not stabilizing until years later at around $15 per ounce. Similarly, the economic collapse following the COVID-19 pandemic drove the price up to double that amount.

Call us at (909) 985-4653 to check on pricing and the current inventory of silver bullions we have in stock today.

As mentioned in the “Are silver coins a good investment in 2023?” article, it seems likely that the demand for silver will continue to increase, driving up the price per ounce, making silver coins a very sensible addition to your investment portfolio.

Which Factors Influence the Price of Silver?

The price of silver is always fluctuating. In fact, every single second the price of silver updates based on several factors. Trading on the silver futures markets has the largest effect on the current price of silver. Other factors include:

  • Newsworthy headlines in the financial and commodity markets
  • Discoveries of new silver deposits (usually by mining companies) which increase the total supply of silver in the market.
  • Fashion trends where silver jewelry becomes either more or less desirable.
  • Geopolitical events
  • Economic events

Do You Currently Have Any Silver In Stock?

Call us to check on the current inventory of silver bullions available today (909) 985-4653.

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Are silver coins a good investment in 2023?

Silver Coins We Buy

 

What is Silver?

Pure silver is a chemical element with metallic properties. It can be found on the periodic table under the symbol “Ag”, which is short for argentum, the Latin word for “silver”.  Silver is a soft, white, lustrous or “shiny” metal which makes it very desirable for uses in high quality jewelry.

Silver has been valued as a precious metal since antiquity. It can be found buried under the surface of the earth in it’s pure form, without the need for complex refinement processes prior to smelting, making it valuable to humans since prehistoric times.

Silver has been used a form of currency, finding application in numerous bullion coins, alongside gold and copper.

Silver is a versatile metal that finds its application in various art forms, including busts, sculptures, and figurines. It is also used to create ornamental household items like serving trays, vases, coffeepots, eating utensils, and cutlery. Additionally, silver is utilized in the production of handheld mirrors and musical instruments such as flutes.

Silver also possesses natural antibacterial properties and thus has applied medical uses such as surgical tools and bandages used to treat infections.

Silver is an excellent conductor of electricity making it very important in the manufacture of electronics.

What are Silver Coins?

Silver coins are considered the first form of minted currency ever to be mass-produced by a national government. High purity silver coins are still produced today by several countries including the United States, Canada, UK, Australia, South Africa, China, and many other nations. For centuries, silver coins were a primary form of currency until other alloys were adapted in the 20th century. Up until 1964, all U.S. dimes, quarters, half dollars and dollar coins were made primarily of silver (90%).

The main reason for their popularity is because all such coins are standardized in weight and purity, being guaranteed by their minting agency (or government) to be of the same high purity (usually .999) and the exact same weight. The metal coins are very durable, waterproof, and can be stamped with recognizable images, giving them liquidity (they are easy to trade) and fungibility (they are equivalent in value to all other coins of the same denomination) and longstanding value protection. If I have two American Eagle coins, I can be reasonably satisfied that they are both worth the same amount.

Are silver coins a good investment in 2023?

While it is impossible to predict what will happen to the price of silver coins in the future,  there are several known factors that influence the price, and understanding these factors will help you determine where the price is headed in the near term. Silver, like gold, can be a strategic hedge against the volatility of other investments. Silver coins possess a unique allure as their worth can appreciate due to the value of the silver metal, meanwhile their aesthetic appeal can further increase its value among collectors who appreciate a particular coin style. Plus, coin values increase based on scarcity (how rare the silver coins are). If a coin has a limited mintage, it can be more valuable than a coin that is more widely available. This plurality makes silver coins more desirable than other silver bullions such as bars or ingots.

When governments print an excess of paper currency, the value of silver currencies increase. Silver coins are often considered a safe refuge in times of heavy inflation. And when demand  for silver increases from other uses such as electronics and medicine, the investment potential also increases. Consider the fact that silver is used in the production of Solar Panels. Due to the government mandates in states like California, where every new house that is built must have solar panels, by law, the value of silver can reasonably be expected to increase as demand rises.

If the global supply of silver increases due to mining exploration, however, the price can go down which will impact the values of silver coins as well. Buying silver coins is therefore not without an element of risk to investors. Careful caution and consideration must be taken when making any investment decision.

What are some of the most popular investment strategies that silver coin investors employ?

1. Buy and Sell

Many people who buy silver coins enjoy the fact that they can later sell the silver coins for cash if they ever need to. Other people try to buy and sell silver coins strategically in an effort to maximize their investment returns. A popular, but impossibly difficult strategy to perfect, is to attempt to “time the market”, which means you try to buy silver coins at a low price and wait patiently for the market price to rise. Then, at the exact moment of peak value, you sell the silver coins to extract the best possible return on your investment.

2. Buy and Hold.

Many disciplined and experienced investors claim the best strategy is to “buy and hold”: You buy the silver coins, and never sell them. This, of course, only works if the market has more increases in value than decreases over time, which, for silver coins, seems to be almost certainly the case.

3. Retirement Accounts.

Many investors are using an investment vehicle known as a Precious Metals IRA to store silver coins and other precious metals and bullions in their retirement accounts. Combining both gold and silver in your IRA can act as a powerful hedge against other assets and securities taking the form of stocks, bonds, cash, and real estate that are being saved for retirement.

What is a hedge?

A hedge is an investment strategy that acts as a failsafe by spreading the risk between primary and opposing positions. Think of the old adage “Don’t put all your eggs in one basket”. If all of your eggs are in one basket, and you accidentally drop it, all of your eggs might break. But if you put your eggs into two baskets, and one of the baskets is dropped, your other basket of eggs will be unharmed.  You’ve spread your risk around, therefore decreasing the risk of losing all your eggs. This basket of eggs principle can be applied to investments and is known as “diversification”. A hedge takes the diversification strategy one step further by choosing a second investment (the “second basket”) that will likely increase if your primary investment decreases.   If one of your investments goes down in value, your hedge is likely to go up, protecting you from a scenario where your investment portfolio as a whole becomes worthless.

How much do silver coins cost?

The price you pay for silver coins will vary widely based on who is selling them. Most coin dealers will charge you a modest premium on top of the spot price. California Gold & Silver Exchange is widely known for offering some of the fairest premiums in the region, while other national companies will reportedly upcharge coin buyers more than 30%.

Some dealers and collectors will also try to charge more if the coin has a significant historical value. A one-ounce silver coin that is hundreds of years old is likely to be far more valuable than a once-ounce silver coin that was minted just this year.

At the time of publication, the spot price of silver was $22.67 (USD). Compare that to 30 years ago, when an ounce of silver was trading at just $5, and held at that price steadily for more than a decade.

30 Year silver Price History in US Dollars per Ounce

Following the economic collapse of 2008, the price of silver increased in value nearly 10 fold, not stabilizing until years later at around $15 per ounce. Similarly, the economic collapse following the COVID-19 pandemic drove the price up to double that amount.

Call us at (909) 985-4653 to check on pricing and the current inventory of silver coins we have in stock today.

As mentioned in the “Are silver coins a good investment in 2023?” section, it seems likely that the demand for silver will continue to increase, driving up the price per ounce, making silver coins a very sensible addition to your investment portfolio.

What are the Top Selling Silver Coins?

    1. American EagleThe American Silver Eagle is a unique silver bullion coin that is backed by the U.S. government, ensuring its weight, content, and purity. It is the official investment-grade silver coin of the United States Mint, with a face value of $1 and made of 1 oz of .999 pure silver. Investing in Silver Eagles offers unparalleled recognition and liquidity for investors.
    2. Canadian Silver Maple LeafsThe Canadian Silver Maple Leaf is easily identifiable due to its iconic single maple leaf, which is the quintessential symbol of Canada. Since its introduction in 1988, the Silver Maple Leaf has consistently contained 1 oz of pure Silver with a purity of .9999, making it one of the highest quality Silver dollar-sized coins globally. Not only does the Canadian Silver Maple Leaf hold significant value, but it also offers excellent liquidity.
    3. Morgan Silver DollarsMorgan Silver Dollars were minted from 1878 to 1904 and again in 1921. They are composed of 90% silver and 10% copper and weigh 26.73 grams. They feature a portrait of Lady Liberty on the obverse side and an eagle on the reverse side. The coins were named after their designer, George T. Morgan.
    4. Austrian Silver PhilharmonicsThe Austrian Silver Philharmonic, a stunning annual-release coin that made its debut in 2008. Renowned for its low mintage, many consider the Philharmonic Silver coin to be even more exquisite than the Canadian Silver Maple Leaf. What sets this coin apart is its unique euro denomination, with a face value of €1.5. Crafted from.999 pure Silver, the Austrian Silver Philharmonic is a perfect choice for both investors and music enthusiasts alike.
    5. Chinese Silver PandasThe Silver Panda coins stand out among other bullion coins due to their limited mintages and unique features. Made of.999 pure silver and recognized as legal tender in China, these coins are highly sought after by silver coin buyers. With their distinctive size and low mintage, they make a valuable addition to any bullion collection, adding intrigue and rarity.
    6. Australian Silver KangaroosThe Australian Silver Kangaroo is an exceptional coin, weighing 1 oz and made of pure Silver with a fineness of .9999. It is minted with a face value of AUD 1. With its remarkable mintage history and captivating artwork, this coin is highly sought after and easily tradable.
    7. British Silver BritanniasThe inception of these esteemed British Silver coins dates back to 1987, and since then, their purity has consistently risen. Presently, the coins being released have a Silver content of .999 purity. Featuring a depiction of a more mature Queen Elizabeth II on the obverse and the iconic Standing Britannia in a horse-drawn chariot on the reverse, this Silver coin serves as a perfect embodiment of British history.

    What is the Long-Term Investment Outlook for Silver Coins?

    We can’t know for sure, but many investors are bullish on the long range speculation about the value of silver coins. They point out historical prices of silver and the overall supply and demand as indicators that influence their decisions.

    Which Factors Influence the Price of Silver?

    The price of silver is always fluctuating. In fact, every single second the price of silver updates based on several factors. Trading on the silver futures markets has the largest effect on the current price of silver. Other factors include:

    • Newsworthy headlines in the financial and commodity markets
    • Discoveries of new silver deposits (usually by mining companies) which increase the total supply of silver in the market.
    • Fashion trends where silver jewelry becomes either more or less desirable.
    • Geopolitical events
    • Economic events

    Which Silver Coins Do You Have In Stock?

    Call us to check on the current inventory of silver coins available today (909) 985-4653.

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What’s the Difference Between Chinese, Italian, Turkish, and Saudi Gold?

Difference Between Chinese, Italian, Turkish, and Saudi Gold

Whether you’ve been in the gold industry for a long time, or you’re new to the industry, you may have heard the terms “Chinese Gold”, “Italian Gold”, “Turkish Gold”, and “Saudi Gold”. But what’s the difference between all of these? Isn’t gold just… gold?

The Difference Between These Types of Gold

The main difference between these types of gold is the origin from which it came. Chinese gold comes from China, Italian gold comes from Italy, etc. No matter where they come from, they are all gold. The other differences between these types of gold are their quality, color, and how they are used in jewelry and other metal crafting. Some types of gold may be worth more than others, but it isn’t because of where they come from. It’s because of their differences in quality.

Chinese Gold

China is one of the largest gold consumers and producers in the world. Chinese gold sometimes seems as if it’s more expensive than gold that comes from other countries. However, the reason that Chinese gold seems so expensive right now is that the world’s gold supply is low, and Chinese gold is often 22 karats or more.

Italian Gold

Italian gold is also a type of gold that is highly sought after by investors and collectors alike. Unlike Chinese gold, Italian gold is often 14 karats or 18 karats. Another reason that Italian gold is highly attractive to investors is that Italian gold is often very rich in its yellow color. Finally, many Italian jewelers have honed their craft over hundreds of years, which makes Italian gold a very sought after addition to make collections.

Turkish Gold

Turkish gold can be dated all the way back to 3000 BC. Turkish jewelry is often very high quality because it is often 22 karats. Demand for Turkish gold is extremely high right now, with gold production being down, making it very high in demand. Turkish gold can be yellow, white, pink, red, and many other colors.

Saudi Gold

Gold from Saudi Arabia is considered one of the most desirable types of gold you can get. Saudi gold is almost always 21 karats or higher, which makes it a very enticing commodity for gold investors. Saudi gold often contains very intricate designs and carvings, which makes it very attractive to many jewelry investors. This attention to detail is one of the reasons that Saudi Gold is one of the most coveted types of gold.

Buy and Sell Your Gold at California Gold and Silver

California Gold and Silver is one of Southern California’s leading gold traders. We will happily buy your Chinese, Italian, Turkish, and Saudi gold. Come to our office in Upland, California, and we can test your gold’s worth in store. You can also contact us to make an appointment to get your gold tested.

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A New California Gold Rush Sparks After Winter Rains

A New California Gold Rush Sparks After Winter Rains

Is it time to grab your gold pan? Many believe we are seeing a new Gold Rush in California following the winter storms we had earlier this year. Because of the large amount of rain and snowmelt, rivers and streams are running at faster rates than we have seen in a very long time. This has led to many gold miners believing that it’s enough movement to loosen up the gold deposits in the mountains. Many modern-day prospectors are calling it the “Gold Rush 2.0” and are heading out in hopes of striking big.

Nick Prebalick, the owner of California Gold Panning in historic Jamestown, says that “the strong currents from the heavy rains have cleared out much of the debris in waterways, helping to better expose gold nuggets. It also cleared all the sediment,”

Prebalick continues, “You used to have to dig three more feet to get down to the bedrock where the gold is,” he explains that bedrock is the heaviest material that settles at the bottom of rivers and creeks. He says the rain “Cleared everything out, so it’s really easy to get down where the gold is now.”

However, we don’t believe that another Gold Rush is happening at any time in the near future. Our owner, Michael Brewart, explains that “We haven’t been getting any people coming in with any [larger than normal] quantities or any amount in the last couple weeks, but I have heard that with the weather that there’s a lot of interest in trying to find gold.”

So while some people think that a surge in gold is imminent for the near future, we haven’t seen any actual proof of this yet.

Although another Gold Rush doesn’t seem likely, we are still open for business! If you have any gold or silver items including jewelry, coins, bars, or bullions you’d like to sell, come visit California Gold and Silver Exchange’s office in Upland, California. We also sell gold and silver for those looking to purchase from a reputable seller. Contact us if you’d like to make an appointment.

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What is Chinese Gold and Why is it More Expensive?

What is Chinese Gold and Why is it More Expensive

The Chinese culture has a very long history with gold. In Chinese culture, gold represents wealth, power, longevity, and happiness. Gold is often considered to be one of the most valuable and significant gifts one can give. This is why it’s often given at important life events such as birthdays, weddings, childbirth, and the New Year.

China notoriously has a very high standard for gold which can make it a sought-after commodity. Many people get Chinese gold as a gift or purchase it in China or Hong Kong without actually realizing its true value.

Where Chinese Gold Comes From

China is not only one of the largest consumers of gold, but they are also the world’s largest gold producer. The majority of the gold in China comes from one of the Chinese gold-only Northern China craton margins. Gold is also often mined in the eastern provinces of Shandong, Henan, Fujian, and Liaoning. There have also been slight increases in gold production in some of China’s western provinces such as Guizhou and Yunnan. The gold mined from these reserves is often stored in vaults in Beijing.

Why It’s More Expensive than Other Gold

While all gold is the same no matter where it comes from, Chinese gold is often marked at a higher price tag than gold from other countries. This is for two reasons:

  • The world’s gold supply is low right now.
  • Demand for gold is offset for all types of gold; however, Chinese gold is often 22 karats.

Chinese or Hong Kong gold is often marked with “999”, “9999”, or “999.5” to indicate its purity. Chinese gold may also be marked with Chinese symbols that indicate its purity:

足金 千足 万足
99.0% minimum purity 99.9% purity 99.99% purity

We Buy Chinese Gold

At California Gold and Silver, we can buy and sell high-quality metals at a fair price. You can contact us to schedule an appointment or visit our office in Upland, California. Please feel free to reach out with any questions you may have!

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What Happens to Your Jewelry After You Sell It to Us?

Have you been thinking about selling some of the gold or silver jewelry you have laying around at home? If you have, you may have wondered what we do with it once you sell it to us. We’ll give you a hint: we don’t resell it. What happens instead is that it gets repurposed into gold and silver bars or bullion.

We do not resell your jewelry.

While reselling jewelry may seem like the obvious thing to do, it doesn’t quite make sense for us as gold and silver traders. It’s easier to invest in gold and silver in a bar, bullion, or coin form than when it’s jewelry. This is the main reason we don’t resell your jewelry. Instead, we repurpose your jewelry into more investable materials.

It’s melted down into gold bars or bullion.

After you sell your jewelry to us, it gets melted down into gold and silver bars and bullion to make it easier to invest in. Your jewelry is heated to a very high temperature before it’s poured into a mold, then cooled to form a gold or silver bar. You can see examples of this process in the video below.

Check out this video to see how gold jewelry and scrap is melted into bars and bullion:

*Do not attempt to do this at home. This process should only be completed by professionals.

Ready to sell your gold or silver jewelry?

If you are ready to sell your gold or silver jewelry, contact us at California Gold and Silver and set up an appointment. Have questions? Check out our FAQ.

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How Do Taxes on Gold Work?

taxes on gold

You may not know that when you invest in gold, you must pay taxes on any physical gold assets you own. This can be slightly confusing since taxes on gold investments are slightly different than other assets. Taxes may vary depending on certain factors such as your state, city, county, and the amount of gold you’ve purchased and sold.

How Gold is Classified

Gold is classified as a collectible, making it a little bit different than other investments. Gold is classified as a collectible because of its rarity and value. Silver, palladium, and titanium are classified this way as well. This classification does not change depending on what form your metals are in. This means that bullion, bars, and coins are all still considered collectibles by the IRS.

Capital Gain Taxes on Gold Investments

When you sell gold and make a profit, it’s taxed as a capital gain. Capital gains on gold change depending on how long you’ve held your gold. Gains held less than a year are taxed the same as ordinary income. Gains held more than a year are taxed as ordinary income; however, after one year they are maxed out at a 28% tax rate. Since the IRS doesn’t treat gold as a special asset, this means that there are no specific rules when it comes to capital gains taxes. You’ll have to plan accordingly with your tax or financial advisor if you want to minimize your tax bill on the gold you’ve traded.

 

three large gold bars on many dollar bills

Taxes on Self-Directed IRAs (SDIRAs)

If you’ve used gold as an asset on your self-directed IRA, or SDIRA, you may be wondering how taxes work on that. Since IRAs are not subject to federal taxes, the taxes collected on your SDIRA will be slightly different than your normal taxes. Also, if you withdraw money from your SDIRA early, you’ll be subject to taxes and possibly even withdrawal penalties. When you start an SDIRA, you can choose whether your contributions will be made before or after tax. For example, if you’ve opened a Roth SDIRA, your contributions are made with after-tax dollars and therefore, withdrawn tax-free.

Reporting Requirements

Tax liabilities are not due when the initial sale of metals is made. Instead, metal investments are reported on Form 1040 on your tax return. You may also need to fill out Form 1099-B depending on the type of metal that you are selling because it may be considered income. Examples of items that need to be reported are:

  • $1,000 face value of U.S. 90% silver dimes
  • Quarter or half dollars
  • 25 or more 1oz Gold Maple Leaf, Krugerrand, or Mexican Onza coins
  • Gold or silver bars that are 1kg or 1,000 troy ounces

Tax bills for these sales are due at the time of your regular income tax bill.

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How to Identify Sterling Silver Flatware

Sterling silver flatware can be a great way to make some extra cash. However, identifying your flatware to make sure that it’s truly sterling silver can be a little more difficult. Sterling silver is 92.5% silver, which is part of the reason it is so valuable. It can also be refined while keeping its original value. Sterling silver flatware is one item that keeps both its resale value and appeal, which makes it a sought-after item by many collectors and silver traders. In this article, we’ll teach you how to identify your flatware so you can know if what you have is truly sterling silver. Always talk to your CPA or Financial Advisor before making investments.

Look for Indicator Marks

The first thing you can do is check for indicator marks or stamps on your flatware. Usually, sterling silver will have a mark that indicates it as sterling silver. It may also have a British Hallmark that indicates what kind of flatware you have. Another indication that you have true sterling silver is that the flatware pieces are usually darker in color and more lightweight than normal silverware.

Check for Numbers

Another way you can identify if your flatware is sterling silver is by looking for a .925 stamp. Real sterling silver is marked with “.925” because it is 92.5% silver. This is one of the easiest ways to tell if what you have is real sterling silver or not. If your piece is not full sterling silver, it’s likely that you have EPNS (Electroplated Nickel Silver), Nickel Silver, German Silver, Roger’s 1847 Silver, International Silver, or another type of plated silver.

Identify Plated Items

Plated items are items that only have a coating of sterling silver, and are not solid silver. This makes them less valuable than solid sterling silver. If your items are plated, they will often have the words single-plated, double-plated, triple-plated, or quadruple-plated on them. While these items aren’t as valuable as their solid counterparts, they are still extremely durable.

Figure Out if You Have a Set or Individual Pieces

You’ll want to know if you have an entire set of sterling silver flatware or just odd and end pieces. Full sets are more valuable than individual pieces, and therefore, more likely to be on a collector’s radar. Check to make sure all your pieces have the same markings on them. If they don’t, it’s possible that you have some pieces that aren’t a part of the set.

Ready to Sell Your Silver? Contact Us!

California Gold and Silver is a highly-rated gold and silver trader in Upland, CA. If you have sterling silver flatware that you’d like to get appraised, contact us to set up an appointment!

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Which Coins Are Worthless and Which Ones are Valuable?

If you’ve got a handful of coins clinking around in your drawers or in a box under your bed, you may be wondering if they are valuable. But how can you tell which coins are worth something? We’re here to tell you which coins are worthless and which ones are valuable. Always talk to your CPA or Financial Advisor before making investments.

Which Coins Are Worthless?

Susan B. Anthony Coins

Susan B. Anthony coins tend not be worth much. There are two reasons that these coins don’t hold much value. The first is that they were extremely common when they were in circulation. It is very rare to come across one that actually has worth to it since so many are common mints. Second, is that there was a lack of interest and confusion when it came to the coins that caused most of the variations to not be in circulation at all. The supply of these coins is very high, while the demand is low. Often, you won’t get more than the face value of the coins.

Sacagawea Coins

Like the Susan B. Anthony coins, the Sacagawea Dollars don’t often hold much value besides the very few rare varieties that exist. These coins are also often only worth their face value, and while they are a great addition to a coin collection, they won’t make you money.

Presidential Dollar Coins

Presidential dollar coins are another type of coin that is only worth its face value. Presidential dollar coins are fairly common on the market and make a fun gift for kids or collectors, but aren’t worth trying to make a sale on. These coins stopped being in production around 2011 because they had a very low demand.

Wheat Back Pennies

Wheat back pennies are coins that are commonly misrepresented as being worth a lot of money, but in reality, they aren’t worth more than a few cents. There are millions of these pennies on the market, and there are only two pennies (the 1909-s and the 1909 BVD) that have value. However, these two pennies are so extremely rare that it’s highly unlikely that you will ever come across one.

Which Coins Are Valuable?

American Flowing Hair Dollar (1794)

The American Flowing Hair Dollar first appeared in 1794, and only lasted until around 1795. The 1795 version is more common than it’s earlier counterpart which makes the 1794 coin extremely valuable.

Draped Bust Half Dollar (1797)

Draped bust half dollars were minted between 1796 and 1807. However, the 1797 draped bust half dollar is a very rare version of the coin with less than 4,000 coins ever minted with only a few hundred still left circulating today.

Liberty Seated Dollar (1870)

Liberty Seated Dollars from 1870 are extremely rare and valuable coins. With only 15 minted of the 1870-S variety, these coins are in high demand and could fetch you over a million dollars if it’s in pristine condition. However, the regular strike 1870 coins are also valued around $100,000 (in pristine condition) and have around 415,000 in circulation.

Morgan Silver Dollar (1889)

It’s possible that you have an 1889 Morgan silver dollar sitting around at home. With over 21 million minted, these coins are valued at around $25,000 if they’re in pristine condition. These coins are also valuable because each mint of these coins has its own distinctive mark.

Any PCGS or NGC Coins

Any coin that is graded by a national grading organization like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC) will have value to it. If you buy coins that are already graded by one of these organizations, it’s likely that your coin has potential resale value that can make you a profit.

Should You Clean Coins Before Selling Them?

You should never clean coins before you sell them. Even if you have a coin that is extremely valuable, cleaning it could greatly diminish the value. Even if your coins are very dirty, you should never attempt to clean them before you bring them to be graded. Professional coin dealers won’t mind that they’re dirty, and they will take the proper steps to remove the dirt if it’s necessary.

Want to Buy or Sell Gold and Silver Coins?

If you have coins that you are ready to sell, or you’re prepared to invest in gold and silver coins, California Gold and Silver can help! You can contact us to schedule an appointment or visit our office in Upland, California. Please feel free to reach out with any questions you may have!

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How to Tell if Your Silver Coins Are Valuable

You may find yourself with an excess of silver coins. Or, maybe you’ve been keeping an eye on the silver market prices and you’ve been waiting for the perfect time to sell your coins. Either way, how do you tell if your silver coins are valuable? If you want to be able to have an idea of how much you’ll get for your silver coins before you go to sell them, there are a few ways you can determine their value. Always talk to your CPA or Financial Advisor before making investments.

First, Figure Out if Your Coins Are Bullion or Numismatic

The type of coin you have will help to give you a more accurate idea of how much your coins are worth. Your coins will often be bullion coins or numismatic coins. If you have bullion coins, there are fewer factors that go into determining the value of the coin. This means that it will be easier to get an accurate measure of their value. Bullion coins are purely for investing since they themselves hold a numeric value. On the other hand, numismatic coins are more often collected by collectors and hobbyists.

How to Tell if Your Silver Bullion Coins are Valuable

Silver bullion coins are slightly easier to determine their worth than numismatic coins because bullion coins have a numeric value based on their weight and how much silver they contain.

Queen' Beast Completer Coin Front

Purity

Your silver coins should have a stamp on them that says 800, 900, 925, 958, or 999. This stamp will tell you how much silver is in your coin. 999 is 99.9% pure silver while 800 is 80% silver. The higher the purity, the higher the value of your silver coins.

Weight

The weight of your coins is probably one of the most accurate ways to tell if your silver coins are valuable. Since the silver market is measured by weight, you can look at the current price of silver and use that to determine your coin’s value based on how much your coins weigh. Silver is measured in troy ounces, which is a special unit of measurement for gold and silver. Troy ounces are based on 12 ounces to a pound instead of 16 ounces to a pound. One troy ounce is equal to 31.1034768 grams.

How to Tell if Your Numismatic Coins Are Valuable

Numismatic coins are collectibles, which means that there are very specific things that go into the coin’s value. While most collectors will already have an idea of what their coins are worth, people new to collecting may not know what to look for. Since you can’t simply just weigh numismatic coins, you’ll have to do a little bit of research on your coins to tell if your silver coins are valuable.

australia koala platinum

Number Minted

The number minted refers to how many coins were originally made and therefore how many are on the market. Coins with a lower mint number may be more valuable since they are rarer.

Grade and Quality

The grade or quality of your coin also plays a part in determining how much your coins are worth. Coins in better condition are often more valuable than ones that are damaged or flawed. The grade and quality of your coins is not equal to the cleanliness of your coins, and you should never clean your coins before you sell them.

Demand

Lastly, another important thing to research when figuring out if your coins are worth anything is to check their demand. Coins in high demand will be more valuable than those that are not in demand. You can easily do a quick online search to see if your coins are in demand. While you don’t ever want to sell your coins on websites like Ebay, you can use the website to see how much the coins are going for and if there is a high demand for them.

We Buy and Sell Silver Coins

We buy and sell many different kinds of silver coins. Silver coins of note that we are currently buying are:

Silver Dollar Coins

  • Morgan

  • Peace

  • American Silver Eagle.

  • Silver Eisenhower Dollars (Blue Ike or Brown Ike – however, they must be in this special set)

 

Wartime Silver Nickels

We buy wartime silver nickels. We buy coins in the years 1942-P and 1942-S to 1945. Wartime silver nickels look dirty and are 35% Silver.

Silver Coins We Do Not Buy

We do not buy Susan B. Anthony, Sacagawea, or Presidential Dollar Coins.

Silver Coins We Sell

We currently have a stock of 2023 Silver Britannia with Kings Charles coins for sale.

Ready to Buy or Sell?

If you are ready to buy silver coins or sell your silver coins, you can schedule an appointment with us. Please don’t hesitate to contact us if you have any other questions.

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