You can make a mint from gold – to coin a phrase!
Since the earliest of times man has found uses for gold for both ornamental and religious purposes but also as a representation of wealth.
In more recent history – gold was used a currency and means of exchange between nations.
Current use of gold is split nearly 50/50 between jewellery vs investments and industrial use and its history as coinage has helped gold maintain appeal as an investment.
The first know gold coins were in use in Asia Minor around 600BC and gold coin became a popular European currency from the 14th century.
It was during the industrial era that bills (or cheques) gained popularity representing a face value redeemable in gold – which remained in the bank.
The value of gold is based on its purity. Pure gold is rated as 24 carats (k) and coins generally have another metal added to aid coin hardness which dilutes this purity. English gold crowns coins, which circulated from 1526 and into the 1930s were a standard 22k and American gold coins minted in the early 1800’s had a purity of 21.6k.
Today, gold coins for investment or collector purposes don’t get handled so much (they are certainly not seen in tip jars around town!), so they are minted at 24k. There are a few exceptions but it is the Special Issue Canadian Gold Maple Leaf coin that has the highest purity at 99.999%.
Some gold coins you could find under the sofa cushions;
- Special Issue Canadian Gold Maple Leaf gold coin 24k 99.999%
- Canadian Gold Maple Leaf gold coin 24k 99.99%
- American Buffalo 24k 99.99%
- American Gold Eagle 22k (0.92)
- British gold sovereign 22k (0.92)
- South African Krugerand 22k (0.92)
If you do happen to find one of these coins under the sofa cushion, you may try to do what was an old tradition of biting a coin to check if it was genuine.
An early form of counterfeiting was to cover a lead “coin” in gold plate to pass it off as a full value gold coin. If the coin was a fake – the bite test would leave a clear indentation. A more professional test of the time was to cross check the weight of the coin against its size by passing the coin through a narrow slot.
At EzyCash GoldBuyers –you will be pleased to hear that you don’t need to worry about us breaking our dentures biting your gold coin to check its authenticity – we will use our fandangled analysis machine to do a quick, spit free and accurate test – and ensure you get the best possible price for your gold coins.
Gold and Silver Buyers
Little Known Facts about Gold and Silver
Did you Know??
- The term “gold” is the from the Proto-Indo-Europeanbase ghel / ghol meaning “yellow”, “green”, or possibly “bright”.
- The chemical symbol for gold is AU, from the Latin word aurum meaning “shining dawn” and from Aurora, the Roman goddess of the dawn. In 50 B.C., Romans began issuing gold coins called the Aureus and the smaller solidus.
- Did you know that Gold melts at 1064.43° Centigrade. It can conduct both heat and electricity and it never rusts.
- Did you know that all the gold ever mined by man since the dawn of time would fit into 2 olympic swimming pools.
- Did you know that the biggest miner and producer of gold is now China, overtaking South Africa, which has for years been the world leader of Diamond and Gold mining.
- Did you know that in terms of raw material there is about twenty times more silver than gold, but in terms of metal reserves Gold globally has about 1.2 billion ounces where as silver only has about 200 million ounces.
- Gold has always been admired by humans and its use can be traced as far back as the bronze age 5000 years ago.
Sell Old Silver Coins
EzyCash Gold Buyers is always looking for old silver coins as they contain a high amount of pure silver. Specifically, we’re looking for British silver coins and New Zealand silver coins from before the end of the Second World War and Australian silver coins and US silver coins from before the mid 1960s.
We will also take a look at silver coins from other countries.
Maybe you’ve stumbled across some old silver coins but you’re not sure about what kind of silver coin they might be. Here’s a tip about identifying silver coins from home before bringing them in to EzyCash Gold Buyers’ Panmure store. Continue reading
Mining Gold and Silver isn’t an Easy Job
Prices for silver have reached record levels in the past year which is why it’s an excellent time to bring your silver into EzyCash Gold Buyers of Panmure, Auckland. EzyCash Gold Buyers always pay top cash prices for silver jewellery, silver coins, silver bullion, broken silver and scrap silver.
In April last year the price of silver peaked at US$49 a troy ounce. Currently the spot price of a troy kilo of silver is around NZ$1214 – an increase in the silver price of over 100% cent in the past five years.
This increase in the price of silver is due to a shrinking supply of silver around the world. And this silver supply is set to shrink slightly further due to an announcement by the Mining Health and Safety Administration in the US. The Administration has ordered the temporary closure of the silver shaft at the Lucky Friday silver mine in Mullan, Idaho.
The silver mine, owned by Hecla Mining Company, will be closed for maintenance and cleaning until early 2013. Over time, sand and concrete material has built up in the silver mine and must be removed by power cleaning to prevent future hazards. Continue reading
Gold Coins in the Sea and Gold Coins in the Roof
EzyCash Gold Buyers in Panmure, Auckland– we buy gold for a top cash price. And we give you great suggestions on how to find gold.
In a previous blog, we recommended combing the ocean depths for gold in sunken ships.
We even referenced the case of an American salvage firm going up against the Spanish government over the ownership of
gold found amongst a shipwreck off the Portugese coast. Since writing that blog, the Spanish have won the argument and 17 tonnes of gold and silver (including 594,000 gold coins) recently arrived in Madrid aboard two military planes.
Will it be enough gold to solve the Spanish debt crisis?
Perhaps not, but it’s a substantial gold windfall nonetheless. Continue reading
Another Slight Dip in the Price of Gold
Although many investors see gold as a more solid investment than currencies, (which are more likely to feel the effects of economic troubles) gold is not bulletproof.
Recently the price of gold has softened slightly due to three factors:
The strengthening of the US dollar, slower than expected economic growth in China and a potential decline in gold demand in India.
EzyCash Gold Buyers keeps a close eye on the price of gold so they can give you a top cash price for your unwanted gold. Bring in broken gold, scrap gold, gold jewellery and more to their store in Panmure, Auckland. With their knowledge of the price of gold and the gold market, they can give you an expert valuation on your gold and a top cash price. Continue reading
Sell in Private
