THANKS TO THE SIMPLE MAGNET AND THE GRAM SCALE

Gems N' Loans Coin Center Trivia

IF ANY OF YOU COLLECTORS DO NOT HAVE 

A MAGNET TO TEST POTENTIAL COIN PURCHASES,

GET ONE IMMEDIATELY!

OVER THE YEARS I HAVE SEEN NUMEROUS

COUNTERFEITS--OF ANY COIN A THIEF WOULD 

HAVE CAUSE TO THINK HE COULD SELL.

MOST OF THESE COUNTERFEITS ARE MADE OF

NICKLE, WHICH IS VERY MAGNETIC. SILVER AND

GOLD ARE NOT MAGNETIC. THE NICKLE TRADE 

DOLLARS I CAME ACROSS WOULD "LEAP" OFF THE

COUNTER TO GET TO THE MAGNET. SO DID THE

"CC" MORGAN DOLLARS.  THESE COUNTERFEITS

LOOKED VERY GOOD. 

THE SECOND GREAT WAY TO WEED OUT COUNTERFEITS IS TO CARRY A SMALL PLASTIC

GRAM SCALE. LOOK UP THE GRAM WEIGHTS.

MORGAN AND PEACE DOLLARS BOTH WEIGH 

26.7 GRAMS.  THE FAKE ONE I AM USING TO 

COMPARE WEIGHS 19.0 GRAMS. 

I KNOW MANY OF YOU LIKE TO SCOUR THE SWAP MEETS AND THE LIKE.  JUST REMEMBER THAT 

THE INSURANCE THAT A MAGNET AND A GRAM SCALE

COULD GIVE COULD SAVE YOU FROM BIG

LOSS.

Learn more here!

 

WHAT IS A TROY OUNCE?

Coin Trivia Only At Oceanside Coin Center

THERE ARE 2 KINDS OF OUNCES---TROY AND AVOIRDUPOIS

(FOOD OUNCE)

THE AVOIRDUPOIS OUNCE CONTAINS 28.35 GRAMS.  IT IS THE STANDARD UNIT OF MEASUREMENT FOR FOOD AND OTHER BULK ITEMS.

THE TROY OUNCE CONTAINS 31.1 GRAMS.  IT IS THE STANDARD FOR

ALL PRECIOUS METALS (GOLD, SILVER, PLATINUM, PALLADIUM, ETC., AND FOR THE SPOT PRICES YOU CAN GET DAILY ON THE INTERNET.  THAT SPOT PRICE IS FOR ONE TROY OUNCE OF THE “PURE” (.999) METAL.

Coins that are circulated typically do not contain either pure metal (.999)

or weights that are troy ounces or fractions of a troy oz.

   Bullion coins may not be .999 but they will generally have enough 

Of the metal to equal the troy weight stated  on the coin.

EX: The American gold eagle (1oz) weighs 33.933 grams and contains

31.1 grams of .999 gold.  After the alloy metal is added you have 33.933

Ounces of .916 (22karat) gold.

UPDATE:  I FOUND THE TWO ROOSEVELT DIMES I NEEDED AFTER LOOKING THROUGH  22 TUBES OF DIMES—THEY WERE BOTH IN THE SAME TUBE!  

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Best Explanation From Coin dealers in Oceanside

WHAT AND WHEN IS AN EAGLE AN EAGLE?

THERE ARE 2 CLASSES OF EAGLES—CIRCULATED AND NON-

CIRCULATED (BULLION).

The typical gold coins we see that were circulated were minted

From 1877 TO 1933—WHEN THE U.S. WENT OFF THE GOLD STANDARD (STOPPED MINTING GOLD COINS FOR CIRCULATION). 

The “LIBERTY TYPE” WAS MINTED IN $20 (DBL EAGLE),  $10 (EAGLE), $5 (HALF EAGLE) AND $2.50 (QUARTER EAGLE.) The “LIBERTY TYPE” Features the bust of Lady Liberty  facing to the right and an Eagle on The reverse side. These were minted from 1877 to 1907.

The “ST. GAUDENS” (NAMED FOR THE DESIGNER) TYPE FEATURES ($20) double eagle features Lady Liberty walking toward the

The front.  These were minted from 1907-1933.

From 1907 to 1933  there was an $10 (EAGLE) with an INDIAN HEAD, A $5 (half eagle) and a quarter eagle (2.50) with Indian head (1908-

1929)

There was also a $1 gold coin –Liberty Head (1841-1854—Indian

Princess (1854-1856) and Indian Head (1856-1889).

The above coins were all 21.6K gold (90%).  They gold content

does not fall on the now standard 1 Troy ounce, 1/2, 1/4, etc.

For example, a Double eagle Has 30.0933 grams of pure gold 

(.9675 Troy ounce.   A new “bullion” Eagle has exactly 31.1033 

grams of gold—an exact troy ounce.

All of the above have collectible (Numismatic) value or Premium

above the spot price.

BULLION EAGLE

These are gold coins that have exactly 1 oz, ½ oz, ¼ oz, 1/10 oz 

and 1/20 oz of pure gold.  They are 91.6% gold (22k) but each coin 

weighs more than its stated gold content to account for the alloy in it.

     EX: A 1oz eagle actually weighs a total of 33.933 grams.

These coins are minted as BULLION—They are not put into circulation. The 1oz "Eagle" has "50 dollars on the coin, but it is typically priced at Gold Spot + a premium from $40-$60. The “eagle” features “Walking Liberty” on the front and an Eagle landing in a nest that already has another eagle in it.

Learn more!

  

Oceanside Coin Trading Vernacular

Coin Collectors Words to Use

SPOT - The price of a precious metal per troy ounce (31.1 Grams) established by the major metals trading centers of London, New York and Asia/Pacific. By downloading KCAST you can have the most current spot prices on your task bar. Download KCAST by following this link.

NUMISMATIC - means "has to do with currency and coins.

NUMISMATIC VALUE -  is the premium above spot for a "collectible" coin.

No progress on "The Search for the Silver Dimes in our Haystack!" but I have looked through 20 more of the dime tubes.

 Learn more here!

The Search for the Silver Dimes in our Haystack!

Hey there, this is John from the Gems N' Loans Coin Center in downtown Oceanside, California at 520 N. Coast Hwy, Suite #102.

We have a “blue” book here filled with all the silver Roosevelt dimes (circa 1946-1964) except the 1955 Philadelphia and the 1963 Philadelphia. I am currently looking through the haystack (our “haystack” is 36 coin tubes filled with silver Roosevelt dimes, for a total of about 1700 dimes). I hope that in all of those tubes I will be lucky enough to find the two we need to complete the book. 

So far, I have gone through about six tubes containing over 300 dimes and I keep seeing 1964 D dimes, the last year they made the dimes out of silver, which are from the Denver mint.

You can find me here at Gems N' Loans Coin Center, five days a week continuing the search for the silver dimes in our haystack! Wish me luck! 

Find The Best Coin Deals in Oceanside

How to Recognize a Good Coin Dealer

There are two major categories of coin dealers the wholesaler and the retailer. The wholesaler aggressively seeks to bring new material into the marketplace, and often attends coin shows, local auctions, and runs advertising offering to buy coins. Most of this material is sold in bulk lots to retail-based dealers.

One of the best ways to prepare yourself against the knowledgeable coin dealer is knowing the wholesale prices he pays for his coins. A very commonly used standard at the U.S. coins is the Coin Dealer Newsletter, which is printed on grey paper and comes out weekly.

Learn more here!

Buy Gold & Silver Coins Along the Pacific

 What is a Coin Exchange Dealer

Becoming a coin dealer is not something you pursue by taking a particular curriculum in school. On the staff of my companies we have employees with college majors of accounting, history, economics, natural resources and physical education.Gems  N' Loans Coin Center also has senior employees who are fully knowledgeable of the industry. If you are buying coins, especially for investment purposes, you will want a knowledgeable, reliable coin dealer who can give you accurate and meaningful advice. 

We buy and sell gold coins and silver coins, at the fairest market value today. We are an Oceanside based coin dealer offering fair pricing and accurate grading. We also buy gold, silver and most precious metals.

Learn more here!