Brigantine Beachcomber

The Gold and Silver Mine > Age not a factor in valuing a coin

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Written by Staff Reports Thursday, May 17, 2012 12:00 am

Submitted by Douglas Keefe

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

I have mentioned in a previous article that age is not a determining factor in establishing the value of a coin. Quantity available, demand for the item and condition are the three factors that go into the value of a coin, as well as virtually any other collectible.

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Gold and Silver Mine > Counterfeiting not so rare

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Written by Douglas Keefe Friday, May 11, 2012 12:00 am

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics. 

Counterfeiting is the attempt to produce for a low cost an item that can be passed off as the higher value real thing. Examples are cheap Chinese knock-offs such as Gucci handbags and Nike sneakers. Also, more important is the counterfeiting of U.S. currency. I myself had the misfortune to take a counterfeit $100 bill. Someone had taken a $5 bill, bleached all the printing off it, and printed the design of a $100 bill on the paper. The paper would pass the test with a marking pen, because the paper was genuine, but when held to the light, the watermark was that of Abe Lincoln, not Ben Franklin.

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Gold and Silver Mine > There’s a dirty secret to cleaning coins

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Written by Douglas Keefe Friday, May 04, 2012 12:00 am

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

A question I get quite often from my customers is “what can I use to clean my coins?” The short answer is don’t clean your coins under any circumstance! The reason being that no matter what is used to clean a coin, a certain amount of damage will occur to that coin. Also, a cleaned coin looks different from natural coins and cleaning can be detected by collectors. Coins take on a certain appearance due to their age and circulation. Collectors want coins that look natural and in many cases won’t add cleaned coins to their collection.

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Gold and Silver Mine > Coining dollars wouldn’t be penny ante

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Written by Douglas Keefe Thursday, April 26, 2012 11:16 pm

 

A weekly column dedicated to “digging out” information about precious metals, coins and other numismatics.

Last week we spoke about the savings that could occur if the government stopped minting one-cent (not penny) coins. Another potential savings could happen if the problem of paper dollar verses metal dollar were resolved.

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Gold and Silver Mine: When is a penny not a penny?

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Written by Douglas Keefe Thursday, April 19, 2012 11:30 am

A weekly column dedicated to digging out current information about precious metals, coins and other numismatics.

There have been several articles written in the past weeks regarding the Canadian government’s decision to stop minting “pennies.” The only problem is the articles’ reference to the “penny” is incorrect. The coin being retired is actually a “cent.” Canada and the United States are both on a decimal system where the lowest denomination coin is the one-cent coin or one-one hundredth of a dollar. If you were to show someone that familiar coin with the portrait of Abe Lincoln on it (he’s been on it for more than 100 years) and ask what the coin is, the vast majority will incorrectly identify it as a “penny.”

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The Gold and Silver Mine

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Written by Douglas Keefe Thursday, April 12, 2012 02:01 pm

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

An area that causes a lot of confusion regarding precious metals is how they are weighed. For reasons long forgotten, a system different from our everyday means of weighing ourselves and our food was developed. That system is known as the Troy system and is used exclusively for weighing precious metals. The Troy system is broken down into Troy pounds, Troy ounces (12 Troy ounces equals 1 Troy pound), grams (31.1 grams equals 1 Troy ounce) and pennyweights abbreviated “DWT” (20 DWT equals 1 troy once). Confused yet? I don’t blame you.

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