Online Wealth In A Gold And Silver Coin Home Business?

A new home business has shown up involving gold and silver coins. This business is known as Numismatics (new miss MA ticks) and was once the hobby of kings and the very wealthy. A specialist in this field is known as a Numismatist (new MIZ ma tist). Home businesses range from buying low and selling high to network marketing top-graded gold and silver collectible coins.

What is the value of gold and silver coins? Everywhere you look these days there are signs and ads for buying gold and silver. Some say it is a sign of a shaky world economy. Some say it is simply due to the value of gold and silver being on a constant rise over a long period of time. To an entrepreneur, it is enticing. However, if you do not know the value of the gold and silver you have, you could lose money rather than gain.

People who make a home business from gold and silver coins need to know the difference between the value of the metal and the value of a coin. Art value, limited editions, uniqueness, etc., all increase the value over the mere weight of the silver and gold. Otherwise, the gold or silver buyer is gambling that the price of the metal alone will rise.

Let’s take an American Eagle silver dollar as an example. If you are at a store and hand the coin to a cashier, its value is exactly one dollar. But as a troy ounce of silver it is worth $18. If it is in perfect condition (MS70) and graded by a recognized coin evaluating company such as ANACS, then the value is $125.

Consumers often confuse “slab” or bullion coins for limited edition, MS70 coins. There are those who would take advantage of this ignorance. To help people avoid this, a report was posted on eBay – http://reviews.ebay.com/The-best-coin-graders-NGC-ANACS-and-the-worst_W0QQugidZ10000000003785971 – giving a review of coin graders and warning the consumers about the difference.

Coins sold “straight off the press” are not necessarily MS70 or even MS69. They can be scratched or have other imperfections. Even if you keep them in their packaging they can get scratched. If you buy rolls of silver coins, the cost will be slightly over the current cost of the metal. Until you have the coins graded and encapsulated, you will not be able to get a price than that.

The value of the coins change with passing years as well as grading. There can also be a huge difference in the value between MS69 and MS70. There are many factors such as how popular the artist is who designed the coin, the coin’s rarity, or even just one person’s desire to have it to complete a collection.

If you plan to be successful with a home business in Numismatics, you need MS70 pure silver or gold coins, graded by NCG or ANACS, encapsulated in a plastic case for protection. You will need to learn how to deal with the lack of knowledge, find out where the best auctions are and how to avoid counterfeit coins. It is not hard to do but very necessary.

To push the point home, get some evidence. Research will show a 2010 American Eagle silver dollar listed with a dealer (http://www.austincoins.com) as bullion and as graded coins. As of July 11, 2010, this dealer was selling a roll of American Eagle silver dollars for $459 which is $22.95 per coin. The same coin, same year, but graded by NGC or “certified” MS-69 costs $29.95. An MS70 coin lists for $125.

You may ask why the MS-70, same coin, same year, sells for $125. The answer is supply and demand. Just like fine art, you are going to get a value based on what the consumer wants. MS70 is the best. The encapsulation ensures it is never going to decrease in that grade (use this link for an image of the ones I bought http://www.cherylcurrie.com/wp-content/uploads/2010/03/American-Liberty.jpg). It is the difference between a damaged or tarnished antique and one that is restored and looks like it was just made.

Numismatics is not an investment activity. A home business in numismatics is just like any other. The product is the best coins of gold and silver offered at a fair price, the owner of the business makes a profit and the whole thing depends on supply and demand. Right now, there is a lot of demand.

To see the change in value over time for a coin, you have to look at the past and see how much a coin from five years ago sold for in the present. You get this information from auctioneers such as the ones shown in this video: http://www.youtube.com/watch?v=5QKoU0q6Jvk, or eBay or on individual sites. Here is an example of such a report: http://www.cherylcurrie.com/wp-content/uploads/2010/07/Numis-What-It-Sells-For-Now.jpg

The moral of this story is “Be smart, be safe and fill your days with valuable gold and silver.” Numismatics, gold and silver coin collecting, can be a very profitable home business if you know where to buy and how to sell.

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