Non-traditional Gold and Silver Gifts and Hidden Treasure

There is a storefront operation on 3rd Street in Louisville, KY called the Louisville Numismatic Exchange.

Sometimes I am at a loss for a special gift to my offspring who are now grown adults. They are situated very much like Bonney and me. They have almost everything they need and most everything they want.

Once when we wanted to get something for them that they would not otherwise get for themselves, I picked up the phone and called the Louisville Numismatic Exchange and ordered  gold bullion coins.
The Gold Canadian Maple Leaf bullion coin is currently available in four different sizes: The classic one troy ounce coin approximately the same size as an extra thick United States half-dollar. The coin carries a face value of 50 Canadian Dollars.  The half-ounce coin has similar dimensions to a double-stacked United States quarter, and carries a face value of 20 Canadian Dollars. The quarter-troy-ounce Canadian Maple Leaf coin has a face value of 10 Canadian Dollars. The tenth-ounce gold Maple Leaf is is somewhat smaller than a United States dime, and carries a face value of 5 Canadian Dollars. There is even 1/20 oz but most dealers don’t carry this coin.

Today’s purchase price for a solid gold 1 Oz. Maple Leaf is $1780 plus tax from a Tennessee Coin dealer. A 1/10 Oz Gold Maple Leaf coin is about the size of my thumb nail and sells for $200. These prices vary day to day with the price of gold metal. My purchases are tax free since I buy from a Kentucky dealer.  Louisville Numismatic Exchange delivers coins to me by U.S. Postal Service Registered mail.

Ever since the economic rise of China, Brazil and India the prices of gold and silver have increased dramatically. A pure silver coin with a face value of $US One Dollar now contains $36.50 of silver at today’s prices. US Silver coins minted prior to 1965 contain 90% silver and are worth a lot more than the $1, 50, 25 or 10 cents stamped on the coin.

I was discussing increased prices of gold amd silver coins with a neighbor. The neighbor recalled finding a sack of silver coins when breaking up Father’s housekeeping. The neighbor asked how much they were worth? Several days later the neighbor sold the small sack of coins to a dealer for $11,000. The entire family including grand children are going on a cruise vacation with that money.

The name for pre-1965 U.S. Silver coins is “Junk Silver”. The rule of thumb is $1000 face value of pre-1965 90% silver US Coins contains 715 Oz of pure silver. Today the Louisville Numismatic Exchange will pay $22 per $1.00 face value for “Junk Silver” but these prices vary with the “Melt Price” for silver.

Perhaps you have forgotten a small bag of old silver coins that you put away for safekeeping. It may be worth a considerable sum and might be enough to pay for a vacation for the family.

I can't believe "Junk Silver" paid for this!

If you have any “Junk Silver” you want to sell simply click on  Louisville Numismatic Exchange in Useful Links for Cloister Residents at the right side of this page. Give them the face value of pre-1965 coins you wish to sell and they will make you an offer to buy.

Maybe you have a vacation cruise for your family hidden away somewhere in a closet……

4 thoughts on “Non-traditional Gold and Silver Gifts and Hidden Treasure

  1. Pingback: Trusting Wall Street | Cloister Living

  2. It’s June, 2012 and prices for both gold and silver coins have dropped. So have interest rates on CD’s and savings accounts. The Federal Reserve has recently reported that the net wqorth of an average household has dropped over 40% since 2007. It’s getting tough to keep up.

  3. Pete, what a great job. I actually had started writing down my thoughts about all of this. You are so talented, you don’t need any help!!

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