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More Money & Coin Collecting Info
While obsolete gold coins are primarily collected for their numismatic value, gold bullion coins today derive their value from the metal (gold) content - and as such are viewed by some investors as a "hedge" against inflation or a store of value. South Africa introduced the Krugerrand in 1967 to cater to this market; this was the reason for its convenient and memorable gold content�exactly one troy ounce. It was the first modern, low premium (i.e. priced only slightly above the bullion value of the gold) bullion gold coin. Bullion coins are also produced in fractions of an ounce � typically half ounce, quarter ounce, and one-tenth ounce. Bullion coins do not carry a meaningful face value, as their value is mainly dictated by their troy weight and the current market price of the precious metal. (If a face value is minted on the coin, it is done for legal or other reasons and it is nearly always significantly less than the actual value of the coin.) Gold has an international currency code of XAU under ISO 4217.
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Today, like all investments and commodities, the price of gold is ultimately driven by supply and demand, including hoarding and disposal. Unlike most other commodities, the hoarding and disposal plays a much bigger role in affecting the price, because most of the gold ever mined still exists and is potentially able to come on to the market for the right price. Given the huge quantity of hoarded gold, compared to the annual production, the price of gold is mainly affected by changes in sentiment, rather than changes in annual production.
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More rare coins gold silver Information
Odyssey Marine Exploration Asserts Position in $500 Million Shipwreck Treasure from Black Swan Site
Thu, 20 Nov 2008 04:24:00 +0000
TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration, Inc. (Nasdaq:OMEX - News), the world leader in the field of deep-ocean shipwreck exploration, yesterday filed its Response to Spain’s Motion...
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The ACCG Benefit Auction nets $45,811 in active bidding.
Wed, 20 Aug 2008 12:43:05 +0000
The ancient coin collecting fraternity supported its primary advocacy group with an impressive $45,811 in the Benefit Auction that closed today on Vauctions.com . The total topped a pre-auction estimate of $44,775. Coins and other items donated by collectors and dealers across the country and even from friends outside of the USA were sometimes fought ...]
As a tourist site, Federal Reserve is worth its weight in gold - Los Angeles Times
Thu, 25 Dec 2008 03:26:07 GMT
As a tourist site, Federal Reserve is worth its weight in gold Los Angeles Times, CA - The American Numismatic Society has lent the bank hundreds of rare coins and currency to illustrate the history of money, grouped by era and region. ... |
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