People in the older times do not use any form of currency to buy things they need. They just trade their goods at the market place and exchange things they have for things they want or need. As time pass, people began to learn the value of currency. They started to use money as instrument to purchase goods and services. Because gold has always been considered a valuable commodity, they minted gold coins as their first currency.
Henry VIII was accountable for the devaluing of the English money. From 23 carats, it was reduced to 22 then to 20 carats. The same happens to silver coins. The silver coins were debased of their face value.
I found when an important coin takes hold of me and I simply have to have it, I can get pretty creative about coming up with money I didn’t think I had, in order to get it.
Don’t buy coins that are being heavily advertised. Sell those coins, if you have any. If you see ads for certain challenge coin maker that dealers are buying, those are good ones to also buy, if they fit within your collection goals. Use your dealer relationship to buy the best coins at the most reasonable prices.
For silver coins, it is going to be a good investment to get the American Silver Eagle coin. This is one ounce and is quite popular among collectors and investors. On one side, it has the Walking Liberty, which was created by A.A. Weinman and it has the silver eagle on the reverse side. The price range of these coins is fair and it depends on the year that the coin was struck. This was not the first money though that utilized the Walking Liberty design. This was first seen on half dollars that were released from 1916 up to 1947.
You need to understand that the value of the coin is dependent on the current market “spot price” and the premium for each coin. The spot price of gold is widely available in major newspapers or business websites.
But time and changing economies have brought coin collecting to the masses. Today’s collections have expanded to include foreign coins, antique coins, those circulated only briefly, coins with mint errors, coins minted to mark historic occasions and artistic coins.
In summary, the advantages of coins are that they are relatively easily obtained and have almost nonexistent buying and selling costs. They can be stored locally and handled with ease. They are readily available to the collector to admire. Coins are also easily recognizable and can be assumed to have certain known traits, though if they have been tampered with, this won’t hold true. Tampering will probably be evident, however.