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Cleaning Old Coins

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junk silver quarters

Cleaning old coins is a topic that often divides coin collectors and numismatists. Generally, experts advise against cleaning coins, as doing so not only removes the patina, it can also scratch their surface and will most likely diminish their value, especially for collectible or antique coins.

Coin collectors and numismatists prefer coins with their original, uncleaned surfaces.

However, if you have circulated 90% junk silver coins that you wish to clean for personal enjoyment and are not concerned about their collectible value, there are a variety of gentle methods you can use.

The simplest and least invasive method is to use soap and warm water. Soak the coins in warm water with a mild dish soap like Dawn and then gently rub them with your fingers or a soft cloth. Avoid using any abrasive materials that can scratch the coin.

For coins with heavy buildup, an olive oil soak can sometimes loosen grime over time. Place the coins in a container filled with olive oil and leave them for a week or longer. This method is very slow and can take quite a while to show results.

Vinegar and Salt can be used for cleaning base metal coins such as common modern pennies. Mix vinegar with a teaspoon of salt and soak the coins in the solution for a few minutes before rinsing them thoroughly with distilled water. Be aware that this can potentially damage the coin’s surface and is not recommended for valuable or antique coins.

Electrolysis is often used by professionals and involves passing an electric current through a solution with the coin as an electrode. It can be effective but also risky, and should not be attempted without proper knowledge and equipment.

There are a variety of commercial products in the form of liquids, foams and creams specifically designed for silver cleaning. For really grimy 90% junk silver, cleaning creams like Wrights Silver Cleaner, available from Amazon, often produce excellent results when used with a soft cloth. If you decide to use one of these, follow the instructions carefully.

Several collectors in the Reddit /r/silverbugs forum prefer to clean their junk silver coins with a rock tumbler with surprising results.

If you have old coins that may collectible value, it’s best to consult a professional before attempting any cleaning. Professional conservation involves techniques and substances that are not readily available to the public and is performed by experts with an understanding of the chemistry of coins and the effects of various cleaning methods.

Always test any cleaning method on a coin of little or no value before attempting it on anything more valuable. And remember, if a coin is valuable or if you’re unsure of its value, it’s best to leave the cleaning to the professionals.

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The Countries with the Largest Gold Reserves

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Gold is considered a crucial element in diversifying a central bank’s foreign reserves because it bears little correlation with other assets, such as currencies and bonds. In times of market volatility, gold prices often move inversely to paper investments, providing balance to the portfolio.

As we’ve seen with the dollar, paper currency is subject to depreciation and inflation, while gold has maintained its value over the long term.

Top 5 Countries by Central Bank Gold Reserves

While many are monitoring the developments in BRICS, the United States continues to hold the largest stockpile of gold reserves in the world by a considerable margin.

In fact, the U.S. Treasury has almost as many reserves as the next three largest gold-holding countries combined, which are Germany, Italy and France. Russia rounds out the top five.

  1. United States – The US Treasury reports data about its gold holdings on a monthly basis which also includes how much gold is stored across various vault locations. According to the most recent Treasury data, roughly 147,341,858.382 fine troy ounces is in deep storage at the Fort Knox Bullion Depository, 54,067,331.379 troy ounces are held in vaults at West Point, 43,853,707.279 troy ounces in Denver, another 13,376,987.724 held in custody of the Federal Reserve in New York, plus an addition 2,783,218.656 in gold coins that is considered “working stock” that is spread across various locations. This amounts to 261423103.42 troy ounces, roughly 7411220.3158 kilograms. In terms of tonnage, the US holds roughly 7,411.22 tonnes of gold.
  2. Germany – Germany’s central bank, the Bundesbank, is integral to both the European System of Central Banks (ESCB) and the Eurosystem, which sets monetary policy for the Eurozone. Germany holds 3352.65 Tonnes of gold as of the third quarter of 2023.
  3. Italy – Headquartered in Rome, the Banca d’Italia is also part of the European System of Central Banks. The Bank of Italy’s main tasks today include maintaining financial stability, overseeing the banking system, managing the country’s gold and foreign reserves and contribute to the Eurosystem’s monetary policy. Italy holds 2452 tonnes of gold.
  4. France – Banque de France was established in 1800 by Napoleon Bonaparte. Today, it is also part of the ECB, but still maintains supervisory control over the French banking sector, maintaining financial stability, and providing various financial services, including managing the country’s gold and currency reserves. France holds 2437 tonnes of gold.
  5. Russia –  Central Bank of the Russian Federation has a wide variety of responsibilities with regard to managing monetary policy, and managing Russia’s foreign exchange reserves along with the national gold reserves. Russia holds 2333 tonnes of gold.
  6. China – The People’s Bank of China has been around since 1948 and is responsible for formulating and implementing monetary policy, maintaining financial stability, issuing the Renminbi (RMB) and managing the countries foreign currency and gold reserves. China holds 2192 tonnes of gold.

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Do you need a safe to store precious metals at home?

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vintage gold coins

Whether you should buy a safe to store precious metals at home depends on several factors and personal preferences. Many investors choose to store their metals at home, sometimes alongside firearms and other valuables.

There are many advantages to keeping your precious metals at home. Most importantly, you will always have direct, anytime access to your precious metals without needing to go through a third party or institution.

In situations where part of your holdings may be stored in a bank safe-deposit box or third-party depository, you are at the mercy of the facilities business operating hours. In recent years, the trend within the banking industry has been to eliminate or consolidate their deposit box services to fewer locations, limiting access even further.

By storing valuables at home, you avoid the risks associated with third-party storage, such as business failure or mismanagement.

This year, we have seen the largest number of bank failures since the 2008 Financial Crisis, and the Federal Reserve is expecting even more to come. In the event of a bank failure, safe-deposit boxes are not insured or protected by the bank.

Keeping your holdings in a home safe ensures privacy and confidentiality. Under the guise of pursuing the profits of criminals, the FBI has seized over $86 million in assets from innocent Americans in recent years that were stored in private vaulting facilities.

Also keep in mind that the risks of storing gold at home are rising. As the United States economy continues to experience recessionary vibes, crime is already on the rise. Stories of gold thefts continue to make recent headlines.

Considerations for a Home Vault for Storing Precious Metals

When buying a home safe for precious metals, it’s crucial to understand that a safe to store precious metals is just one layer of protection that should be part of an overall security plan. Other factors are also important to consider, such as your home’s security, including cameras, monitored alarm system, accessibility and the level of protection you may need against various threats before making a significant investment in a safe.

A small amount of gold and silver can often be hidden throughout the home in places that the everyday thief who’s looking for a quick score might not normally look. Some investors have been known to wrap a few 10 oz silver bars in butcher paper and toss them in the freezer.

Imagine how the structure of a bank was built during the 20th century. After the foundation was laid and cured, the vault would be built next. Secured via reinforcements in the cement foundation. The building was then built around the vault.

The building provides additional layers of security, such as multiple locking doors in between the vault and the exits. Security cameras and alarms provide addition layers of protection at times when the bank is closed.

When considering buying a safe to store precious metals for your home, it is important to consider the location. Consider an area that is against a wall in a low-traffic area. While some locations like the master bedroom closet are obvious to would be thieves, you might consider other options like installing a floor safe beneath a side chair in a home office or den.

Specialty companies also sell various pieces of furniture that are designed to be hidden in plain site.

Most reputable manufacturers will provide options that allow for the secure mounting of the safe to the foundation or framing of the house. This helps to deter would-be thieves from carrying your safe to another location where they have more time and better tools.

Home Safe Options

It’s important to think about the size of your your current collection and any future additions when choosing a safe. If you’re planning to keep some gold at home as a physical savings, a few 1 oz gold coins are small enough to fit alongside a pistol in a nightstand gun safe.

Choose a safe that is heavy enough to deter thieves from trying to remove it from your home. A much better option is to secure the safe with bolts to the foundation of the house. If that’s not possible, securing the safe to the framing inside a closet is another good option.

Look for a safe with high-quality lock mechanical locking mechanism. Electronic safes, such as those having electronic keypads or biometric scanners are easily hackable and many contain default codes from the manufacturer that law enforcement can use to open some safes. Dual locks that requiring two methods to open can provide an extra layer of security.

Choose a safe that has adjustable shelves or drawers that offer options for organization and quick access to frequently used items.

Burglary Ratings

The ability of a safe to withstand attempts by a skilled burglar is measured by its Tool Latency, or TL rating. TL ratings for safes are a set of standards used to measure the security level of a safe, particularly against attacks aimed at breaking into it. The TL rating indicates the amount of time that a safe can withstand an attempted break-in with common hand tools, electric tools, cutting torches, or any combination thereof.

These ratings are issued by Underwriters Laboratories (UL), a global safety certification company that sets industry-wide standards for safes and other security containers.

Below is a list of some of the more common TL ratings and what level of protection is offered from each.

  • TL-15: The safe can resist entry for a minimum of 15 minutes when attackers use common mechanical and electrical hand tools or picking tools. The tools could include items such as drills, sledgehammers, pry bars, etc.
  • TL-30: Similar to the TL-15 rating, but the safe can resist entry for at least 30 minutes.
  • TL-30×6: This indicates the safe can resist entry for at least 30 minutes on all six sides, meaning the door as well as the five other sides of the safe.
  • TL-60×6: This is one of the highest standard ratings for commercial safes, signifying that the safe can resist entry for a minimum of 60 minutes on all six sides.

The UL rating of a safe typically corresponds to its price, with higher-rated safes being more expensive and can provide enhanced security features and thicker walls and more robust construction.

For valuable collections, important documents, or significant amounts of cash or precious metals, a higher TL-rated safe might be necessary. Always consult with both a safe professional and your insurance provider when selecting a safe, as insurance coverage requirements may also dictate the necessary security level.

Fire Protection Ratings

Fire ratings for safes are a measurement of how well a safe can protect its contents against high temperatures and fire over a period of time. Independent organizations like Underwriters Laboratories (UL) conduct a rigorous battery of performance tests to see how well safes can withstand intense heat while maintaining a set internal temperature that would prevent damage to the contents.

  1. UL Class 350: This rating indicates that the safe will maintain an internal temperature below 350 degrees Fahrenheit, which is a critical threshold for paper documents that would char at temperatures beyond this point. The rating may come with a time designation, such as 1 hour (UL 350-1hr) or 2 hours (UL 350-2hr), indicating the duration for which the safe can maintain this protection.
  2. UL Class 150: This rating maintains an internal temperature below 150 degrees Fahrenheit, suitable for protecting magnetic tapes and photographic records.
  3. UL Class 125: The highest level of protection for safes, maintaining an internal temperature below 125 degrees Fahrenheit, which is suitable for preserving digital media such as CDs, DVDs, USBs, and external hard drives.

Each class rating come with an additional rating for impact resistance, indicating that the safe can withstand a fall from a certain height during a fire, which simulates a floor collapse.

When choosing a fire-resistant safe, it’s important to consider what you’ll be storing inside it and choose a fire rating that’s appropriate. It’s also wise to consider additional factors, such as water resistance, as fires are typically extinguished with water which can also damage the contents of a safe.

Manufacturer Reputation

Reputable manufacturers have proven processes to ensure that their safes meet high standards for durability and security and stand behind their products with robust warranties and responsive customer support.

Buying a safe from well-known manufacturer will help it retain its value and are easier to sell if you ever decide to upgrade or no longer need the it.

Other Considerations

  • Choose a safe that allows for easy access to frequently used items.
  • Consider a safe with adjustable shelves or drawers for better organization.
  • A good safe should come with a warranty that covers defects and damage.
  • Ensure there is customer support available in case you have issues with the safe.
  • Buy from a reputable manufacturer known for quality products.
  • Read reviews and ask for recommendations from experts or other collectors.

Remember, while no safe is completely impervious to theft, fire, or water damage, a high-quality safe can significantly reduce the risk of loss. Consider the total value of what you are storing and invest in a safe that provides adequate protection relative to that value.

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Low Premium Fractional Gold Coins

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20 Francs Gold Coins

An effective way to stack gold, either as a hedge or for financial security, is to buy low premium fractional gold coins. Some of the lowest premiums can be found in vintage gold coins. This include Pre-1933 US Mint gold coins as well as those that were minted throughout Europe in the late 19th and early 20th centuries. 

Most coins of this era were intended for circulation and use in merchant trade. They are minted from the same 21.6k gold found in modern American Gold Eagles and Krugerrands. However, these fractional gold coins, such as the 20 Francs Gold Coins, often carry the lowest premiums when compared to modern bullion coins.

With uncertain economic times ahead and the anticipation of regulation in the cryptocurrency market there are many investors looking for a safer hedge. 

British Gold Sovereigns

The Gold Sovereign from Great Britain is one of the most common vintage gold bullion coins. The British Gold Sovereign has been minted since 1817, but it’s history dates back much further. 

Most incorporate the iconic image of King George slaying a dragon on the reverse, with a portrait of the reigning monarch at the time of minting gracing the obverse. 

Each British Gold Sovereign coin contains .2354 troy ounces of gold, just shy of a 1/4 troy ounce. There are dozens of variations of the Gold Sovereign, minted in 22k, 91.67% gold. 

Gold Sovereigns are widely recognized worldwide and are considered to be a very liquid bullion coin. Since each coin contains just shy of quarter ounce of gold it is easy to store a tremendous amount of wealth in a compact amount of space. 

Gold 20 Francs LMU

The Latin Monetary Union (LMU) was an establishment of a gold backed “Euro” currency. The LMU was established in 1865 by treaty between France, Switzerland and Italy. Other countries eventually joined, including Belgium, Spain and others. 

Each country was responsible for minting gold and silver coins that adhered to a standard based on the French Franc. The 20 Francs gold coins were minted by dozens of mints throughout Europe and other parts of the world by the millions spanning multiple decades. The United States even expressed interest in joining and developed several “pattern coins”, including the legendary Stella $4 gold coin. The Stella coin got its name from Latin translation of “star,” referring to the reverse.

The designs vary by country of origin, but most include a portrait of the reigning leader of the country at time of minting on the obverse. The reverse will also depend on the issuing country, but will often display the term “20 Francs” or some variation of it.

Some also include the local country currency as well. For example, the 20 Francs Coin from Italy also include “20 Lira”, the 20 Francs from Hungary includes the designation of “8 Forint”, Austria includes “8 Florin”, etc.

20 Francs Gold Coins have become very popular amongst stackers due to their low premiums and high liquidity. Each 20 Francs Gold Coin is minted from 90% gold and contains .1867 troy ounces of pure gold.

Popular 20 Francs Gold Coins include:

Austria 1 ducat gold coin obverse

20 Francs Gold Helvetia from Switzerland
20 Francs Gold Rooster from France
20 Francs/20 Lire from Italy
Random 20 Francs

Gold Ducats from Austria & Hungary

The Gold Ducat was used as a trade coin. Trading merchants would use these gold coins to settle accounts for large transactions and international trade. The Ducat became popular with the Venetians when Venice was a popular trading destination. Many countries issued Gold Ducat coins.

Each Gold 1 Ducat coin contains roughly .1123 troy ounces of pure gold. Each coin is minted from 98.6% gold. Larger sizes were minted, including the 4 Ducat.

Austria 1 Ducat gold coin
Austria 4 Ducat gold coin

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US Mint 2024 Numismatic Product Schedule

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The United States Mint has released the preliminary schedule of the 2024 mintage year numismatic products with the anticipated dates of availability. This list is updated as detailed product information becomes available.

All dates and prices are subject to change by the United States Mint and some on-sale dates may experience delays without prior notice due to limited resources. Additional products may be added to the schedule at any time and updates will be posted as they become available.

Release DateProduct
January 4, 2024Commemorative Coin Program
Harriet Tubman 2024
– Proof Five-Dollar Gold Coin (24CJ)
– Proof Half Dollar (24CN)
– Proof Silver Dollar Coin (24CL)
– Three-Coin Proof Set (24CR)
– Uncirculated Five-Dollar Gold Coin (24CK)
– Uncirculated Half Dollar (24CP)
– Uncirculated Silver Dollar Coin (24CM)
January 16, 2024– American Eagle 2024 One Ounce Silver Proof Coin (24EA)
– Congratulations Set 2024 (24RF)
January 25, 2024American Innovation® $1 Coin Program
– 2024 Rolls and Bags – Illinois (24GBA, 24GBE, 24GRA, 24GRE)
January 29, 2024Native American $1 Coins
– 2024 Rolls, Bags and Boxes (24NA, 24NB, 24NC, 24ND, 24NE, 24NF)
February 01, 2024American Women Quarters 2024 Rolls and Bags – Rev. Dr. Pauli Murray (24WBA, 24WBB, 24WRA, 24WRB)
February 06, 2024Rutherford B. Hayes Presidential Silver Medal (S819)
February 08, 2024First Amendment to the United States Constitution
– 2024 Platinum Proof Coin – Right to Assemble
February 08, 2024Liberty & Britannia Gold CoinLiberty & Britannia Gold Coin (24YA)
February 08, 2024Liberty & Britannia Silver Medal (24YB)
February 13, 2024 Rutherford B. Hayes Presidential Silver Medal (S819)
February 15, 2024First Amendment to the United States Constitution 2024 Platinum Proof Coin – Right to Assemble (24EJ)
February 27, 2024American Women Quarters 2024 Proof Set (24WP)
February 29, 2024Greatest Generation 2024 Proof Five-Dollar Gold Coin (24CA)
February 29, 2024
Greatest Generation 2024 Proof Half Dollar (24CE)
February 29, 2024Greatest Generation 2024 Proof Silver Dollar (24CC)
February 29, 2024 Greatest Generation 2024 Three-Coin Proof Set (24CG)
February 29, 2024
Greatest Generation 2024 Uncirculated Five-Dollar Gold Coin (24CB)
February 29, 2024Greatest Generation 2024 Uncirculated Half Dollar (24CF)
February 29, 2024Greatest Generation 2024 Uncirculated Silver Dollar (24CD)
March 14, 2024Proof Set 2024 (24RG)
March 28, 2024American Women Quarters 2024 Rolls and Bags – Patsy Takemoto Mink (24WBC, 24WBD, 24WRC, 24WRD)
April 02, 2024American Women Quarters 2024 Silver Proof Set (24WS)
April 08, 2024American Innovation $1 Coin 2024 Rolls and Bags – AlabamaAmerican Innovation $1 Coin 2024 Rolls and Bags – Alabama (24GBB, 24GBF, 24GRB, 24GRF)
April 23, 2024Silver Proof Set 2024 (24RH)
April 30, 2024James Garfield Presidential Silver Medal (S820)
May 02, 2024
American Eagle 2024 Gold Proof Four-Coin Set (24EF)
May 02, 2024
American Eagle 2024 One-Half Ounce Gold Proof Coin (24EC)
May 02, 2024 American Eagle 2024 One Ounce Gold Proof Coin (24EB)
May 02, 2024American Eagle 2024 One-Quarter Ounce Gold Proof Coin (24ED)
May 02, 2024American Eagle 2024 One-Tenth Ounce Gold Proof Coin (24EE)
May 07, 2024Kennedy 2024 Half Dollar 200-Coin Bag (24KA)
May 07, 2024Kennedy 2024 Half Dollar 2-Roll Set (24KB)
May 15, 2024U.S. Army One-Ounce Silver Medal (SAR1)
May 16, 2024American Innovation $1 Coin 2024 Rolls and Bags – Maine (24GRG)
May 23, 2024American Buffalo 2024 One Ounce Gold Proof Coin (24EL)
Summer 2024
American Eagle 2024 One Ounce Gold Uncirculated Coin (24EH)
Summer 2024American Eagle 2024 One Ounce Silver Proof Coin (24EM)
Summer 2024American Eagle 2024 One Ounce Silver Uncirculated Coin (24EG)
Summer 2024American Innovation $1 Coin 2024 Proof Set (24GA)
Summer 2024American Innovation 2024 Rolls and Bags – Missouri (24GBD, 24GBH, 24GRD, 24GRH)
Summer 2024American Women Quarters 2024 Ornaments (24WO1, 24WO2, 24WO3, 24WO4, 24WO5)
Summer 2024American Women Quarters 2024 Rolls and Bags – Celia Cruz (24WBG, 24WBH, 24WRG, 24WRH)
Summer 2024American Women Quarters 2024 Rolls and Bags – Dr. Mary Edwards Walker (24WBE, 24WBF, 24WRE, 24WRF)
Summer 2024Chester Arthur Presidential Silver Medal (S821)
Summer 2024
Morgan Dollar 2024 Uncirculated Coin (24XE)
Summer 2024Peace Dollar 2024 Uncirculated Coin (24XH)
Summer 2024Uncirculated Coin Set 2024 (24RJ)
FALL 2024230th Anniversary Flowing Hair Gold Coin (24YG)
FALL 2024230th Anniversary Flowing Hair Silver Medal (24YH)
FALL 2024
American Eagle 2024 One Ounce Palladium Proof Coin (24EK)
FALL 2024American Innovation $1 Coin 2024 Reverse Proof Set (24GC)
FALL 2024American Women Quarters 2024 Rolls and Bags – Zitkala-Sa (24WBJ, 24WBK, 24WRJ, 24WRK)
FALL 2024
Grover Cleveland Presidential Silver Medal (S822)
FALL 2024
Limited Edition 2024 Silver Proof Set (24RC)
FALL 2024Mighty Minters 2024 Ornament (24XT)
FALL 2024Morgan Dollar 2024 Proof Coin (24XF)
FALL 2024Morgan & Peace Dollar 2024 Two-Coin Reverse Proof Set (24XS)
FALL 2024Peace Dollar 2024 Proof Coin (24XL)
FALL 2024United States Mint 2024 Ornament (24XU)

More details and further dates can be found at the US Mint Website

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Russian Economist Confirms: BRICS Currency Is Almost Ready

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dedollarization and the introduction of a BRICS basket currency

BRICS represents a shift in global economic power and serves as a testament to the rising significance of emerging markets in the 21st-century global landscape. It has long been speculated that the next phase of growth will include the introduction of a BRICS Currency backed by gold and other commodities and rare earth elements.

BRICS is an acronym representing an association of five major emerging economies: Brazil, Russia, India, China, and South Africa. The BRICS members are all developing or newly industrialized countries, and they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs.

In a recent interview, Russian economist Sergey Glazyev made statements related to the development of the upcoming BRICS currency. He explained that the technicalities of the yet-to-be-launched BRICS currency are put in place and the tools are created.

The soon-to-be-released BRICS currency aims to replace the US dollar as the world’s reserve currency. Glazyev confirmed in a recent interview on Tuesday that the BRICS currency is “almost ready”.

According the Glazyev, BRICS countries have a model of a new world settlement currency that is based on a combination of basket of national currencies of the member countries, alongside a basket of exchange commodities. The model shows that this currency will be very stable and much more attractive than the dollar, pound, and euro.

When trade happens in many different currencies, you have high costs of arbitrage of exchange rates between countries. When approaching dedollarization, central banks and countries need to simultaneously consider the fluctuations of national currencies of different countries.

World prices, particularly commodities like gold and oil are still linked to the dollar, so these arbitrage and exchange rates can generate a lot of losses. In addition, BRICS countries face a high uncertainty in pricing as new markets emerge, so at the next stage it is necessary to detach the prices of world exchange goods from the dollar and move to quoting world exchange goods in other units.

“The BRICS countries are moving to a wider use of national currencies in international settlements because they are all convertible in current transactions and are no worse than using the dollar or Euro,” asserts Glazyev.

“World commodity prices are still linked to the dollar, so these transactions can generate a lot of losses. In addition, these countries face high uncertainty in pricing, so at the next stage it is necessary to detach the prices of world exchange goods from the dollar and move to quoting world exchange goods in other units,” he continues.

And what are these other units? This is where the introduction a BRICS currency arises, which would become a common denominator for the formation of world prices for exchange of goods.

Collectively, BRICS countries encompass over 40% of the world’s population and account for roughly 26% of the world’s GDP, representing a substantial share of global trade.

In 2014, BRICS countries established the New Development Bank (NDB). Headquartered in Shanghai, China, the bank supports public or private projects to member countries through loans, guarantees, equity participation, and other financial instruments.

While the BRICS agreement represents a significant geopolitical alliance of emerging powers, the member countries also face individual and collective challenges such as diverse economic structures, differing political systems, developmental disparities, and regional tensions.

Gold Reserves Backing the BRICS Currency

China, as one of the world’s largest gold producers, has a significant amount of gold reserves. The exact amount has historically been a topic of speculation since China doesn’t frequently update its reserve figures. However, in the last few years, China’s official gold reserves have increased dramatically and are significant, making it one of the top holders of gold in the world. According to data, China is holding roughly 2113.46 tons of gold bars as of June 2023.

Russia has been aggressively increasing its gold reserves for several years. By 2021, it had amassed a substantial amount, placing it among the top countries globally stacking gold. This accumulation is seen as part of Russia’s strategy to reduce its reliance on the U.S. dollar in its reserves. As of June 2023, Russia is holding roughly 2,329.63 tons of gold bars.

While India’s gold reserves are not as significant as Russia or China. It’s important to note that gold has deep cultural significance in India, and households in India hold a vast quantity of gold in the form of high carat jewelry and other items, separate from the nation’s official reserves. India’s gold holdings account to roughly 797.44 tons of gold.

Brazil’s Central Bank began accumulating metals and doubled its gold holdings in 2021. Brazil’s current gold reserves are comparatively smaller than those of China, Russia, and India, with data showing a current level of 129.65 tons of gold bars.

Historically, South Africa was the world’s largest gold producer, but its official gold reserves, as of 2021, is the smallest when compared to other founding BRICS nations. The country’s production has decreased over the years due to depth challenges in mining, decreasing grades, and other socio-economic issues. Data from June 2023 shows that South Africa is holding roughly 125.41 tons of gold in its reserves.

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New Investor Starter Portfolios, Silver Spot Prices Deals and other deals

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cheap silver bars

Various online bullion dealers provide options for pre-determined portfolios, silver at spot price deals and other offers designed to entice investors with a simple and affordable path to precious metals ownership.

These offers are a popular way for investors that are new to metals to experience buying, owning and perhaps selling precious metals, to gain a better understanding of the precious metals and bullion market.

The price of precious metals can fluctuate based on global economic conditions, demand, and other factors. Beyond the spot price, physical metals often come with premiums, which are additional costs over the metal’s intrinsic value. It’s essential to understand these premiums and shop around to ensure you’re getting a good deal.

There are a variety of reasons that investors should consider precious metals as an investment. Some investors are laser-focused on long-term wealth preservation, using silver as a hedge against inflation, or developing an interest in numismatics and collecting as a hobby. Pragmatic investors do not expect short-term gains from precious metals. Your reasons for buying silver can influence what types of pieces (bullion, coins, or numismatic pieces) you should buy.

Silver at Spot Price Deals

A variety of leading online precious metals dealers offer ongoing and flash sales offering investors the opportunity to buy silver at spot price.

These offers are typically allow investors to buy a silver bar or a set of silver rounds with no dealer premium over the current spot price. They are also a way for dealers to acquire new customers, and for investors, they are an opportunity to pay the lowest possible price for silver.

There are many other low premium silver deals that are close to spot. Some are reduced premiums often to promote a particular premium mint product. The promotions often lower the cost of high premium items by at least few percentage points, which can help maintain a reasonably low dollar-cost average. These offers continue to appear from time to time.

The availability of Silver at Spot Price deals from online bullion dealers changes frequently based on market activity. Be sure to check out our spot price deals page for the latest offers.

Investor Starter Portfolios

Money Metals Exchange

Money Metals Exchange, a leading precious metals dealer, offers a variety of pre-made portfolios that are perfect for investors that are new to owning precious metals.

The most popular, is their 9-piece silver starter kit. This simple portfolio contains two silver bullion coins from leading government mints, in addition to a variety of privately minted silver rounds in both 1 troy ounce and fractional sizes.

This basic portfolio contains 4 troy ounces of pure silver and is an ongoing special offer that new investors take advantage of.

Additionally, Money Metals offers a variety of larger pre-made portfolios that include both gold and silver. The Gold & Silver Starter Portfolio includes 8.575 troy ounces of silver and 1/10 oz gold; with (5) 1 oz Walking Liberty Silver Rounds, $5 Face Value Pre-1965 Dimes and (1) American Eagle 1/10 oz gold coin.

For new investors that are looking to quickly build a significant portfolio, Money Metals offers an larger option that offers a very rapid way to acquire 120 oz of silver that is a mix of government backed, private mint and fractional silver rounds, along with 1.1 troy ounces of gold.

The Gold/Silver Investment Portfolio from Money Metals includes 50 oz private mint 1 oz silver rounds, (50) American Eagle 1 oz Silver Coins, (200) 1/10 oz fractional silver rounds, along with (1) American Eagle 1 oz gold coin, and (1) American Eagle 1/10 oz gold coin.

These starter kits and portfolios include some of the most popular and widely traded bullion products, which means they are liquid and you will be able to instantly sell and command the fairest price when you are ready.

The portfolios include a variety of both full 1 troy ounce size as well as smaller-sized gold and silver bullion that are suitable for barter and trade in a currency crisis.

Investor Crate and other Automatic Buying Services

InvestorCrate is a service that offers a subscription-based model for purchasing precious metals. Investors select a monthly budget, and the company then ships a curated selection of gold, silver, or a mix of precious metals to the subscriber’s doorstep every month.

The company offers different “crates” or packages based on the type of metal. Customers can choose from options that include gold-only crates, silver-only crates or mixed crates that contains both gold and silver at a variety of budgets and price points.

By purchasing a fixed dollar amount of precious metals every month, subscribers effectively use a dollar-cost averaging strategy. This can be beneficial because it reduces the impact of volatility in metal prices over time.

One distinguishing feature that sets InvestorCrate apart from many online precious metals buying services is that they deliver physical metals to the customer. This is in contrast to many other investment platforms where investors might use an app to buy a stake in precious metals, such as buy vaulted silver or gold or ETFs, but don’t physically possess them.

The company also provides educational resources and information about precious metals and investing on their website to assist newcomers in the field and subscribers can adjust their budget or cancel their subscription at any time.

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Investing in Vintage Gold Coins

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Many vintage gold coins come with a rich history that provides a tangible connection to a bygone era, something that modern bullion doesn’t offer in the same way. These coins represent ancient empires, defunct monarchies and bygone eras from when many economies were on a gold-standard, which can be intriguing to investors and collectors alike.

For investors who value gold as a store of wealth, vintage gold coins are seen as reliable in terms of their gold content. Given that they were minted under a standardized system, there’s a level of trust regarding their purity and weight. Because of their connection to history, they also serve as collectible items and as tangible assets with intrinsic value.

These coins were minted during an era when the world economy was based on the trusted gold-standard. Intended for circulation, most of these coins were minted with an alloy of .900 fine gold, with the remainder a more durable metal, most typically copper.

While all gold coins carry intrinsic value due to their metal content, vintage coins can also have numismatic value. The numismatic value depends on collector demand, rarity, historical significance, condition, other attributes and can fluctuate based on market conditions.

US Mint Pre-1933 Gold Coins

US Mint Pre-1933 Gold Coins

Gold coins minted by the United States prior to 1933 are an investment choice that is part of history. These coins often carry a numismatic premium and most trade at a premium over spot, unless in very poor or damaged condition.

When the government ordered the seizure of gold in 1933, not everyone complied with the order. Some people simply chose to keep their gold and hoped that they wouldn’t get caught. The actual enforcement of the executive order was primarily targeted prosecution against vocal opponents of the seizure. A historical use of the courts to create examples of political foes and propagandizing the media to instill fear into the people.

The executive order made exceptions for gold coins with recognized special value to collectors of rare and unusual coins, which meant numismatic (collectible) coins were exempt. Many individuals claimed their gold coins held collectible or numismatic value, even if they were relatively common.

With the passage of Public Law 93–373, signed by President Gerald Ford on August 14, 1974, Americans regained the right to own gold, which had profound implications for the gold market, the economy, and individual financial freedom. The law repealed the restrictions on private ownership of gold that had been in place since President Franklin D. Roosevelt’s Executive Order 6102 in 1933, reflecting a changing view toward gold ownership and the role of gold in the U.S. financial system.

Pre-1933 U.S. gold coins represent an era in American numismatics before the significant gold recall and meltdown. Owning these coins is akin to holding a tangible piece of American history.

In addition to their bullion value, many pre-1933 gold coins have numismatic or collector value. Rarity, condition, mint marks, and historical significance can make certain coins particularly sought after by collectors. Pre-1933 U.S. gold coins like the Saint-Gaudens $20 Double Eagle and the Liberty Head design are well recognized among coin dealers and collectors worldwide. Their gold content and purity are consistent and widely accepted.

Mexican Peso Gold Coins

Mexico City is home to the oldest mint in North America, established in 1535 under decree of the Spanish Crown. Vintage Mexican Gold Peso coins are some of the most beautifully designed gold coins in the world.

The Mexican gold peso, especially the “Centenario” 50 pesos coin, holds a notable place in the realm of gold coinage. The smaller denominations of Mexican gold peso coins, namely the 2, 2.5, and 5 gold peso coins, were introduced in various periods of the 20th century as both commemorative and circulating coins.

Introduced in 1921 to commemorate the 100th anniversary of Mexico’s independence from Spain, the Centenario became a mainstay in the international gold market. Its purity and the reputation of the Mexican Mint made it a trusted coin for international trade, especially in regions with close economic ties to Mexico.

The smaller denominations of Mexican gold peso coins were introduced in various periods of the 20th century as a reliable store of value. Most of these coins have seen limited circulation because of the high gold content.

European Gold Coins

Most countries in Europe minted gold coins during the 17th, 18th, 19th and even into the early 20th century. Most were intended for use in merchant trade were widely circulated. Although today they are mainly considered bullion coins, many are in surprisingly good condition for their age and can have additional numismatic value.

20 Francs

20 Francs Gaelic Rooster

The Latin Monetary Union (LMU) was a 19th-century to unify several European currencies into a single gold-standard based around the French Franc, which facilitated trade and commerce among member nations. The LMU established standardized weights, denominations and purity specifications for the gold or silver content of coins.

The coins were minted to a common specification that could be used in all member states, similar to how the Euro is used today across the Eurozone.

Many gold coins from LMU member states, like the French Gold Rooster or the Swiss Vreneli, have become iconic. These coins feature designs that resonate with the culture and history of their respective nations.

Although the weight and purity of the gold were standardized across LMU members, each country had its own design for these coins. For instance:

  • France had the “Napoleon” coin depicting Napoleon III.
  • Switzerland’s 20 franc coin featured the bust of Vreneli.
  • Italy had the 20 lire coin with designs such as King Victor Emmanuel II.
  • Belgium, Greece, and other member and affiliated states had their distinct designs.

The gold content in 20 franc coins is consistent, set to 0.1867 troy ounces (5.805 grams) of gold. This makes them easy to trade, as their gold value is straightforward to calculate. Because they are not as actively minted as modern bullion coins, and their fractional size, the premiums on 20 franc coins can be lower than on more popular gold bullion coins, offering a cost-effective way to invest in gold. Their smaller size compared to a one-ounce gold coin makes them more affordable for individual investors, allowing for more incremental investments.

Gold Sovereign

By the latter half of the 19th century and early 20th century, the gold sovereign had become the “chief coin of the world,” circulating widely not just in the British Empire but also in international markets and areas outside direct British influence. It was a favored coin for international trade and was often held in central banks as a reserve currency.

The Royal Mint established branches in Sydney (1855), Melbourne (1872), and Perth (1899). Australian sovereigns can be identified by mintmarks S, M, or P respectively and were minted until 1931.

The Ottawa branch of the Royal Mint in Canada produced sovereigns from 1908 to 1919. The Pretoria branch minted sovereigns from 1923. The Bombay branch of the Royal Mint produced sovereigns only in 1918.

Dutch Gulden

The Dutch 10 Gulden coin is a notable gold coin from the Netherlands that holds historical and numismatic significance and was part of the country’s currency system before the adoption of the Euro.

The 10 Gulden gold coins were minted at various times during the late 19th and early 20th centuries. The designs of the coins featured the reigning monarch of the Netherlands at the time of minting. For instance, coins from the late 19th and early 20th centuries commonly bore the likeness of King Willem III or Queen Wilhelmina. The reverse side typically featured the national coat of arms and the denomination.

Netherlands 10 Gulden Gold Coin

These coins are prized by collectors for their historical significance, gold content, and artistic design. The value of a 10 Gulden coin can vary based on its condition, rarity, and the specific year of minting as well as the intrinsic value of the .1947 troy ounces of gold.

The 10 Gulden gold coins are a reflection of the Netherlands’ rich history and its economic status during the times they were minted. They were part of a broader system of gold-based currency that was common in Europe prior to World War I and the subsequent shift to fiat currencies.

Given their gold content and historical significance, Dutch 10 Gulden coins are sought after by both gold investors and numismatic collectors. They offer a glimpse into the Dutch monetary history and are considered valuable pieces in European gold coin collections.

In summary, the Dutch 10 Gulden coin is a historic gold coin that represents a significant period in the monetary history of the Netherlands. Its collectability stems from its gold content, artistic designs, and the historical context under which it was minted.

Conclusion

Beyond their intrinsic gold content, vintage coins can have additional numismatic or collector’s value. Coins that are rare, in high demand, or in excellent condition can command prices significantly above their melt value.

Vintage gold coins provide an alternative avenue for diversifying a precious metals portfolio. While modern bullion may track the spot price of gold more directly, vintage coins can have value fluctuations based on their rarity, demand, and condition, offering a different investment dynamic.

Older coins often feature intricate designs and craftsmanship that differ from modern coins. The artistry of past eras, combined with the historical context, can make vintage coins more appealing to some collectors and investors. Holding a vintage gold coin provides a tangible connection to a bygone era, something that modern bullion doesn’t offer in the same way. vintage gold coins offer both tangible and intangible benefits that extend beyond mere gold content. Their historical, artistic, and numismatic aspects make them a favored choice for many collectors and investors with an appreciation for history and artistry.

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What gold coins are 22k?

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Many gold coins minted around the world are 22-karat gold, which means they are made up of 91.67% gold and 8.33% of other metals, usually copper or silver, to make the coins more enduring for circulation.

The British Gold Sovereign, minted since 1817, is one of the most widely circulated 22k gold coins in the world.

Many 22-karat gold coins are favored by investors because the addition of other metals, like copper, provides added durability, making them less prone to scratches and dents compared to 24-karat gold coins.

  1. American Gold Eagle: Introduced in 1986, the American Gold Eagle is the official gold bullion coin of the United States. It’s alloyed with copper and silver.
  2. South African Krugerrand: One of the most recognized gold bullion coins worldwide, the Krugerrand was first minted in 1967 and was the dominant choice for gold investors until the 1980s. It’s alloyed with copper.
  3. British Sovereign: A historic coin that has been minted since 1817, the Sovereign has been used across the British Empire as a circulating coin. It’s made from a gold and copper alloy.
  4. British Gold Britannia (pre-2013): The Britannia is the UK’s official bullion coin. While the coin was originally produced in 22k gold, since 2013, it has been minted in 24k (or .9999 fine) gold.

What Are the Pros and Cons of 24k vs. 22k Gold Coins?

Many investors who are learning about gold coins often wonder whether or not there is a difference when considering 24k or 22k gold coins. Each contains the same 1 troy ounce of pure gold.

Modern 22k gold coins, like the Krugerrand and Gold Eagle, each have a gross weight of 33.93 grams or 1.09 troy ounces. In addition to the one ounce of gold, each of these coins contains small amounts of copper and silver to provide rigidity and strength that helps to protect the coins from scratches and nicks that can occur when handling. The addition of the alloy also gives these coins an orangish hue.

Pure 24k coins contain only the gold. Pure gold is soft and malleable, making these coins more susceptible to scratches, dents, and dings. Due to their high gold content, they often have a brighter, more distinct yellow color.

In deciding between 24k and 22k gold coins, investors should consider their own preferences and priorities, whether they value durability over purity, historical significance over modern appeal, or vice versa. Both types offer the same intrinsic gold value and can be excellent additions to an investment or holdings.

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Tips for Storing Bullion Bars and Coins at Home

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For many investors, having a few hundred ounces of silver or a few ounces of gold at home provides an additional level of financial security beyond traditional investments like stocks and bonds. New investors often have questions about storing precious at home. While storing silver bullion at home in very common and gives you immediate access, it does comes with risks such as theft or loss in a disaster.

A home alarm system may deter burglars and surveillance cameras can add a layer of security. But the most basic way to avoid the possibility of theft is to keep your investment confidential. Loose lips sink ships, as they say.

With porch pirates and package thefts on the rise, some investors choose to have their packages delivered to an alternate address, such as a work address or a PO Box.

Most reputable online bullion dealers will ship packages with return address information left blank beyond a PO Box or street address. Some may obfuscate the originator of the package as a precious metals dealer to make it less likely that a theft may occur during shipping.

For most investors, you don’t need to dedicate much space at home for storing precious metals, but for some, it’s important to consider the different space requirements needed for typical bullion items.

  • A typical monster box that holds 500 troy ounces is roughly the size of a shoe box.
  • A private mint 10 oz silver is similar in size to a deck of playing cards.
  • A tube of 1 oz silver rounds is roughly 1.75 x 1.75 x 3 inches.
  • A few ounces of gold bars in assay cards can easily be stashed in a nightstand drawer or alongside other important personal items.
  • Most fractional gold coins, like 20 francs, have similar dimensions as modern clad coins and can be stored in plastic tubes that are available from Amazon and other retailers.

Some investors keep their precious metals in a safe, stored alongside firearms and other valuables. Beyond silver tarnishing as it’s exposed to air, precious metals are noble metals. They are not typically effected by the environment in which they are stored. Silver and gold coins that have been discovered on shipwrecks that have survived hundreds of years under the sea with minimal indications of damage.

US Mint Silver Eagle Monster Box

When storing silver at home, you should pick an area of your home that has low air exposure to help reduce the amount of tarnish that can form. Also keep in mind that some everyday household items like rubber bands are made with sulfur and can accelerate tarnish. If you chose to store your silver coins in plastic flips, be sure to choose a brand that is made from mylar and is free of PVC.

Think of unconventional locations to store silver, like a hidden compartment or behind a false wall. Some investors go as far as installing a decoy safe in an obvious location to distract a thief looking for a quick grab. Even throwing in some modern coins and scrap metal to give the would-be thief the impression that there are valuables inside.

A diversion safe is also a common tactic for keeping a stash of precious metals discrete by resembling everyday household products, such as soda cans, cleaning products, or food containers. When placed among genuine products in a pantry or cupboard, they are virtually indistinguishable from the real thing and can be effective in deterring casual burglars who are in a hurry.

A classic example is the “book safe.” From the outside, it looks like an ordinary hardcover book. But when opened, a hollowed-out compartment is revealed inside. Some are designed to look like standard electrical outlets, but can be removed from the wall to reveal a hidden compartment. Items like wall clocks, picture frames and even pieces of furniture are built with hidden compartments designed to hold valuables.

Investing in a High-Quality Safe

When installed properly in a discrete location a good, high quality safe can be a decent deterrent against theft.

When shopping for a safe to store silver and gold bullion, it is important to look for one that has a TL rating. A TL rating, also referred to as a “Tool Rating”, refers to the amount of time that a safe should be able to withstand an advanced criminal attack. The rating was developed by Underwriters Laboratories (UL), a third-party certification company that has been around for over a century. The TL rating is accompanied by a numerical value, which indicates the number of minutes the safe can withstand a break-in attempt using basic tools. For example, a safe with a TL-15 rating offers protection against a break-in attempt using common hand tools for up to 15 minutes.

Fire Ratings are separate from a TL rating and deal with the amount of time and temperature that a safe or home vault can endure protecting the contents inside. Fire ratings are typically provided by either Underwriter Laboratories or Intertek.

The products are put through a battery of tests to ensure that the interior contents remain at a reasonably safe temperature while being exposed to extreme temperatures. Some fire-resistant safes also offer protection against water. This isn’t a direct component of the fire rating, but it’s a related and can be valuable feature.

If considering the purchase of a safe, be sure to choose a location where it can properly bolted in a secure and discrete location. Remember that no safe is entirely “fireproof”; they are “fire-resistant” for specific durations under certain conditions.