Tuesday, March 30, 2010

Friday, March 19, 2010

Latest Scrap Gold Prices Report

Visit In Gold We Trust for the latest scrap gold prices report

Wednesday, March 17, 2010

How to Work Out the Price of Junk Silver Coins

The term Junk Silver Coins often refers to old US coins such as morgan silver dollars, Kennedy half dollars, mercury dimes and so on. They are an excellent way to invest in silver but are a bit tricky when working out the exact values because they have weird amounts of silver in them. This article will help waork out the value

Go to www.in-gold-we-trust.info to get the most current price of silver
Organise your coins according to type - dimes , quarters , half dollars and dollars. Remember only coins minted before 1969 contain silver. Then sort the coins further as to the type of dime, quarter etc they are. For example different dimes have different amounts of silver in them. This info should help.

Seated Liberty Dime 1837-1852
Seated Liberty Dime 1853-1873
Seated Liberty Dime 1873-1891
Barber Dime 1892-1916
Mercury Dime 1916 to 1945
Roosevelt Dime 1946-1964
Barber Quarters 1892-1916
Standing Liberty Quarters 1916-1930
Washington Quarters 1932-1964
Barber Half Dollar 1892-1915
Walking Liberty Half 1916-1947
Franklin Half Dollar 1948-1963
Kennedy Half Dollar 1964

Kennedy Half Dollar 1965-1969
Trade Dollar 1873-1885
Morgan Dollar 1878-1921
Peace Dollar 1921-1935
Then take the current price of silver and multiply it by the silver content of each of your coins. Use the info below for silver content

Seated Liberty 1837-1852 0.07726
Seated Liberty 1853-1873 0.07205
Seated Liberty 1873-1891 0.07234
Barber Dime 1892-1916 0.07234
Mercury Dime 1916 to 1945 0.07234
Roosevelt Dime 1946-1964 0.07234
Barber Quarters 1892-1916 0.18084
Standing Liberty Quarters 1916-1930 0.18084
Washington Quarters 1932-1964 0.18084
Barber Half Dollar 1892-1915 0.36169
Walking Liberty Half 1916-1947 0.36169
Franklin Half Dollar 1948-1963 0.36169
Kennedy Half Dollar 1964 0.36169

Kennedy Half Dollar 1965-1969 0.14789
Trade Dollar 1873-1885 0.78761
Morgan Dollar 1878-1921 0.77343
Peace Dollar 1921-1935 0.77343

Example - the price of silver is $15 and I have a Kennedy Half Dollar. So the calculation is 15x0.36169=$5.68

In Gold We Trust Is an Online Calculator giving up to the minute prices on all silver dollars and junk silver coins

Calculating the Gold Price Per Gram

Many people need to calculate the gold price in grams - people in Europe and people who have a small gold item that is measured in grams . This article gives three easy steps for someone to calculate the gold price in grams

The Gold Price is measured in Troy Ounces. When you see the current gold price it is for one troy ounce of gold

Go to www.in-gold-we-trust.info and get the current price of gold from the table on the left side of the screen
One Troy Ounce has 31.1034768 grams.

Many people round the number to 31.1 but for the purposes of this article we will use the full number of 31.1034768
With your calculator - divide the current price of gold by 31.1034768 and this will give you the current price of gold per gram.

Alternatively you can visit different gold calculator websites such as the one linked to this website and it will calculate the price for you.

In Gold We Trust is an online Scrap Gold Calculator giving up to the minute scrap gold prices and will calculate the gold price per gram

Working Out the Value Of Silver Dollars

For anyone who owns silver dollar coins or other junk silver coins - calculating the value today can be a bit of a pain (they are worth way more than a dollar today!!!) So this article will explain how to do that easily

Get the current price of silver per ounce. You can get this by going to www.in-gold-we-trust.info - the prices are listed on the Home Page or Alternatively go to www.kitco.com
Establish if your dollars are
• Trade Dollars
• Morgan Dollars
• Peace Dollars

You can do this by looking at the date

• Trade Dollars minted between 1873-1883
• Morgan Dollars minted between 1878-1921
• Peace Dollars minted between 1921 - 1935
Take the current price of silver (lets say it is $16.50) and do the following calculations

• Trade Dollars = 16.50 x 0.78761 x the number of coins you have
• Morgan Dollars = 16.50 x 0.77343 x the number of coins you have
• Peace Dollars = 16.50 x 0.77343 x the number of coins you have

The second figure in the calculation is the ounce amount of silver in the coin

In Gold We Trust is an Online Calculator for all Silver Dollar and Junk Silver Coins

How to Work Out Scrap Gold Prices

As people look to cash in their old unwanted gold jewelry it is important for them to know the value of their scrap gold items. This article gives easy steps on how to calculate scrap gold prices

First you need to establish the gold purity of the scrap gold you have. For jewelry this is easy. Gold jewelry is classified in terms of karats (10k, 14k, 18k ,22k). It is usually marked on the jewelry item - you may need you magnifying glass for this.

For other scrap gold items such as CPU chips, gold flake and so on you can establish the purity of the gold by doing an acid test. you can get an acid test kit from ebay.
Once you know the karat value of of your scrap gold then you need to weigh it - knowing the weight in ounces or grams is fine.
Gold under 24 karat is a percentage of pure gold mixed in with other base metals. The percentages for different karats are as follows

10k = 41.7% pure gold
14k = 58.5% pure gold
18k = 75% pure gold
22k = 91.6% pure gold

Example in Ounces

I have 2 ounces of 14k gold. The current gold price is $1100 so the value of my gold is as follows

1100 x 0.585 x2 = $1287

Example in Grams

I have 5 grams of 14 karat gold and the gold price is $1100 per ounce

Gold price per gram = 1100/31.1034768=$35.37

Value of my gold = 35.37x0.585x 5=$103.44

In Gold We Trust Scrap Gold Calculator gives up to the minute scrap gold prices as well as prices on all junk silver and bullion silver coins

Calculating the Value of Old Canadian Coins

This article gives steps on how to calculate the value of both old Canadian coins (junk silver coins) that contained silver and also different Canadian Maple Leafs made of silver and gold.

Canadian Junk Silver Coins are dimes, quarters, halfs and dollars minted up to 1968. Depending on the year they were minted they have varying amounts of silver in them. See list below

1900-1919 Dime (92.5%)
• 1920 -1967 Dime (80%)
• 1967-1968 Dime (50%)
• 1900 -1919 Quarter (92.5%)
• 1920 - 1967 Quarter (80%)
• 1967-1968 Quarter (50%)
• 1901-1919 Half Dollar (92.5%)
• 1920-1967 Half Dollar (80%)
• 1935-1967 Dollar (80%)

Organize your coins according to type and year of mint
Go to www.in-gold-we-trust.info to get the current price of silver.

To work out the value of your coin multiply the price of silver by the content of silver in the coin. For example the price of silver is $16 you have a 1910 dime so the value is 16x0.0693= $1.49

1900-1919 Dime (92.5%) = 0.0693 troy ounces of silver
• 1920 -1967 Dime (80%) = 0.0599 troy ounces of silver
• 1967-1968 Dime (50%) = 0.0375 troy ounces of silver
• 1900 -1919 Quarter (92.5%) = 0.1734 troy ounces of silver
• 1920 - 1967 Quarter (80%) = 0.15 troy ounces of silver
• 1967-1968 Quarter (50%) = 0.0937 troy ounces of silver
• 1901-1919 Half Dollar (92.5%) = 0.3456 troy ounces of silver
• 1920-1967 Half Dollar (80%) = 0.2989 troy ounces of silver
• 1935-1967 Dollar (80%) = 0.6001 troy ounces of silver
Other Canadian Coins -

The Canadian Mint issues "Maple Leaf" Coins in Gold Silver and Platinum.
Here is some information on the coins and their gold content

$50 Maple Leaf = One ounce of pure gold
$20 Maple Leaf = Half ounce of pure gold
$10 Maple Leaf = Quarter Ounce of pure gold
$5 Maple Leaf = 1/10th Ounce of Pure gold
$1 Maple Leaf = 1/20th ounce of pure gold

Silver Maple Leafs are minted in Just one Ounce Coins

Platinum Maple Leafs

$50 Maple Leaf = One Ounce of Pure Platinum
$20 Maple Leaf = Half Ounce of Pure Platinum
$10 Maple Leaf = Quarter Ounce of Pure Platinum
$5 Maple Leaf = 1/10th Ounce of Pure Platinum
$2 Maple Leaf = 1/15th Ounce of Pure Platinum
$1 Maple Leaf = 1/20th Ounce of Pure Platinum

Remember Denominations under 1 ounce of platinum maple leafs have not been minted since 2002.

The In Gold We Trust is an Online Junk Silver and Gold Calculator that gives easy up to the minute silver dollar values, prices on all junk silver coins as well as scrap gold prices and the value of gold coins

What is the Gold Price Per Penny Weight

Another common question that comes up is how much is a pennyweight (DWT) worth. Pennyweight is a fraction of an ounce. There are 20 pennyweights to one ounce. So take the reported price of gold and divide it by 20 to get the current gold price per pennyweight.

In Gold We Trust Coin Bullion and Scrap Gold Calculator is an online tool to give you up to the minute values of all gold coins, junk silver coins, silver bullion, platinum coins and jewelry.

How to Invest in Silver

A short video going into detail about investing in silver

In Gold We Trust Scrap Gold Calculator is an online tool that gives up to the minute prices on all gold silver and platinum coins, bullion and scrap

Tuesday, March 16, 2010

How Many Grams in an Ounce of Gold

Gold is measured in troy ounces. So when you see the price of gold is $1000 - this is for one troy ounce.

One troy ounce has 31.1.034768 grams in it. Many people round it up to 31.1. grams for simplicity sake


it is way easier to just go to In Gold We Trust which is a Coin, Bullion and Scrap Gold Calculator and it will work it out for you with the current price of gold

Saturday, March 13, 2010

Buying Gold On a Small Budget

Buy Old Gold Jewelry
As funny as it may sound buying old gold jewelry is an excellent and easy way to get into investing in gold - especially for those on a budget. Old jewelry is often referred as scrap gold, the price of the scrap gold item will always reflect the current price of gold. For example someone has an 18k wedding band that weighs 3 grams. 18k gold is 75% pure gold mixed with other metals. The gold price per gram at the moment is around $35. 18k gold is therefore $26.50 per gram so the ring is worth $79.68. As the gold price gold up and down so will the value of your ring in proportion to the amount of gold in it. So you have just made a gold investment for under $100. If you buy 10k or 14 rings then obviously it will get cheaper. The trick is knowing the scrap gold value of an item. If you go to www.in-gold-we-trust.info there is a scrap gold calculator that will calculate the value of any scrap gold item.
Scrap gold can be bought easily on Ebay or try your local coin shop or second hand jeweler. You don't want to be paying more than 10% above the scrap gold value of the item though.

Buy Old European Coins
Over 100 years ago almost all European countries had gold coins in circulation, these coins contain small fractions of pure gold in them. An Austrian 1 ducat for example has just over one tenth of an ounce of gold in them. A half British Sovereign has 0.1177 of an ounce of pure gold - pricing them at just over $100. The only draw back with these coins is calculating the current value because they all have very odd amounts of gold in them. If you go to www.in-gold-we-trust.info the gold calculator will calculate the current value of any of these coins.

Buy Silver
Silver is also a precious metal and its price tends to rise and fall with that of gold (click here for explanation of the Gold to Silver Ratio). It is also much cheaper than gold with an ounce costing under $20 at todays prices. What is even better is junk silver coins - old US coins such as Kennedy Half Dollars , Morgan Silver Dollars, Peace Dollars and So On. The great thing about these coins is that they are very low denomination for example a Mercury Silver Dime will cost you under $2. Its value will always reflect the price of silver and you can keep adding to your collection even on a very small budget.
You want to find a dealer that will sell you these coins in small quantities, try your local coin deall or once again Ebay is a great place.
The trick with these coins also is to know the current silver value of each coin you are thinking of purchasing. Go to the In Gold We Trust website linked below and their calculator will give you up to the minute prices on all junk silver coins

In Gold We Trust is a website offering information on buying and selling and collecting gold and other precious metals. The Scrap Gold Calculator will give you up to the minute scrap gold prices,calculate the price of all your gold coins, junk silver coins, old US coins etc

Wednesday, March 3, 2010

Investing in Gold - Knowing the Ins and Outs

Why You Should Not "Invest" in Gold
Don't get me wrong - I am certainly not against buying gold but as an asset class it is worthwhile seeing how it behaves differently to other investments such as stocks, bonds or real estate. When you buy a stock in IBM you receive a yearly dividend (hopefully) and (hopefully) the value of the stock goes up over time, the same when you buy real estate as an investment. With Gold it is a little bit different. The reason why gold is seen as a safe haven is that it is a store of value, it never loses its purchasing power. There is an oft quoted adage that an ounce of gold in Roman times would have bought an army officer a fine suit of clothes, that in Shakespeare's times an ounce of gold would have bought a good quality set of clothes and today with gold at just over $1000 this would buy you a good Armani Suit. BUT just as over time it does not lose purchasing power it does not increase purchasing power. The real long term nature of gold is as Insurance and not as an investment. As wars are fought, governments collapse, economies tumble people have rushed into gold because they know it is a place where they can preserve the wealth they have.

Yes you can point to gold's meteoric rise over the last 8 or so years and say what a great "investment" it has been but if you see gold as insurance and mainly buy it as that then you will be able to withstand volatile swings in price that often occur in the gold market, you will be less worried about day to day actions in price and you will perhaps see that the price of gold did not go up just the value paper money in your wallet went down.

Gold Will Protect Me From Coming Super or Hyperinflation - Or Maybe Not
Many gold commentators talk about excessive money printing by central banks, how it will inevitably lead to sky high inflation even hyperinflation and how gold will protect you. Well yes and no. Gold is not such a immediate hedge against inflation that everybody thinks as much as it a hedge against political risk. When Gold skyrocketed to $850 in 1980 it was not a reaction to high prices so much as to the uncertainty surrounding the future of the dollar. In the following years inflation still persisted but the gold price plummeted. Gold is a hedge against inflation really in the long term because in the long term it retains its purchasing power but will it rise 10% just because inflation rose 10% - history is unclear on that.

There is A High Risk of a Worldwide Currency Collapse - So Gold is the Only Safe Haven????
It is February 2010 and Greece is on the brink of bankruptcy with Portugal, Italy, Ireland and Spain all waiting in line to follow suit, if these countries go down then they will take many others with them. Countries like Germany will also be drastically effected because they lent the money, kept part of the debt and then sold the rest on to Insurance companies and Pension Funds along with insurance called Credit Derivatives. States in the USA like California and Illinois are in worse shape than Greece. The whole worldwide financial system is massively intertwined through a complex system of derivatives, there was massive over borrowing and someone will have to pay the piper. There is therefore a certain inevitability about a full on currency crisis making gold ever more attractive because it is no one's liability it cannot be printed ad infinitum. However much they try governments cannot corrupt it.

However inevitable a currency crisis or collapse may seem to you, for there to actually be one the majority of the market or at least the big players in that market have to agree with you. While the fundamentals are in place it can take a long time for the mass to catch on to those fundamentals. You may not be fooled by bailouts and government posturing but in the short term many people are. So for you to be proved right may take many years with lots of twists and turns.

What we face at the moment is a huge credit collapse never seen on such a magnitude before so who knows how it will play out. If you remember back to 2008 this particular crash caused the gold price to collapse and the dollar to strengthen -so in the short to medium term this could happen again. Once again if you see gold as insurance - the short to medium term does not matter so much.

Gold as Protection during a Financial Crisis
If gold is your only hedge against financial crisis then this could be playing with fire a little. Think that there are many scenarios where having gold will not help because no one has any use for it, no one wants to exchange their bag of wheat for your ounce of gold because well you cant really eat it. Gold is a great store of value but it is not the only one. Food, basic clothes, seeds, - essentials that people always need are also great stores of value with a much wider market so if you are motivated towards buying gold because you envision financial catastrophe then it may pay to have a good think about other stores of value. The great thing is about having a large store of food and essentials is that regardless what happens YOU will always need then. So it is never money down the drain!!!!

Bartering with Gold Could Prove Very Expensive
If you are investing in gold because you envision you may be bartering with it some day - well think on. I'm sure someone will swap a loaf for an ounce of gold but that will be a mighty expensive loaf!!!! Look at having precious metals in smaller denominations - junk silver coins - old US coins that have silver in them are a great alternative. They are easy to buy from any coin store and are very low denomination (a silver dime has less than$2 worth of silver in it )

Here are some links to articles that may be of use

How to Buy Junk Silver Coins

This article is meant for informational and educational purposes only it does not constitute advice of any kind - financial or otherwise.

In Gold We Trust is a website offering information on buying and selling and collecting gold and other precious metals. The Scrap Gold Calculator will give you up to the minute scrap gold prices,calculate the price of all your gold coins, junk silver coins, old US coins etc