March 2011 Archives

Tips on How to Avoid Fraud on Collectible Coins

Many people enjoy shopping online where there are great buys of coins that can be found. A person may prefer do his shopping while he is at home because it is convenient and time-saving instead of going out looking for stores that sell collectible coins.

A popular way to shop for a collectible coins online is at a live online auction that can take several days to complete. They entertain bids for the highest price up until the time the auction is about to close. Many people that are bidding online enjoy the experience and they may be familiar with the strategies to use to win an online auction.

There are also online sites where a person can buy any item that may capture his interest. This is where most coin collectors purchase their desired coins. By searching and finding the item that they want, they can actually negotiate and make the payments through the Internet. This can be very risky with a dealer/seller that is unknown to the buyer, yet many people are still making transactions and payments through this method.

Fraud is common even though many Internet sites that do business online contend that the risk of fraud is not something to worry about. They contend that only 0.0025 percent of true cases of fraud occur with online transactions – that means only one out of 40,000 listed Internet transactions would be fraudulent. On the other hand, the FBI has their own investigations, which prove that those figures are not true- they contend that the risk of fraud is much higher according to their statistics.

A person should believe the FBI for his own protection. Even if one can say that the majority of online coin selling transactions are honest and credible, the process used to make the transaction most probably is questionable and uncertain. There are business transactions, which are intentionally committing fraud with their clients and buyers. Aside from flea-market dealers, mail-order sellers, in-person auctions and some coin stores, the Internet has introduced the crime of fraud to many people in the easiest way possible.

One protection that a coin buyer should know is how to get “feedback”; that way, you can see the ratings other bidders give the seller and he may compare his transaction with the transaction of the others. Since there is a great risk of fraud where there is negative feedback, you may withdraw your participation from the auction if you deem that to be necessary.

You can also acquire ideas by looking for those members who have left “positive feedback” and compare it to the reaction of the sellers. A person can make an assessment of what could be possible useful information from those reactions. Be careful and precise about any transaction that is offered by the seller.

There are instances where a person is deceived about the item he purchased. The photo shown on the Internet displayed the coin that a person wants to have but they delivered a totally different item. These cases are fraud. A person must make sure that the item he saw on the photo is the exact item that will be delivered to him. Here are some tips that will help a person prevent fraud during a coin search in the Internet.

  1. You should save the online photo of the coin you want to purchase. Many sellers remove the image and the title of the item once a purchase has been made.
  2. You should get the description and the auction information. It should either be e-mailed to the buyer or sent in writing by mail.
  3. If there are suspicions regarding an auction, you should ask for clarification from the seller. This will avoid misunderstandings and confusion on the part of the buyer.
  4. You have the right to refuse any transaction where you think the price given on the coin is too high. One should be aware of the standard price of the specific coin and compare it to the price that was given during the online transaction.
  5. You can ensure that there will be no fraud by asking the seller, before the auction closes, if there is any available escrow assistance for the bidder.

These are only a few tips that will ensure a person of his safety when making any transactions online. Fraud can happen to anyone, especially those who are interested in purchasing collectible coins online. It is always important to be informed and knowledgeable about the possibilities of encountering fraud.

ISN Modern Coins is a trusted premier Modern coins dealer specializing in the sale of high grade modern day graded and certified government struck coins from around the world. Their wide variety of coins include but is not limited to “Mint State” and “Proof” American Silver Eagles, Australian Koala’s, Chinese Pandas, Lunar Series Coins and much more. No matter your coin need ISN Modern Coins more than likely can fill it.

A Savings Account More Valuable than Gold and Silver

If a major emergency strikes, imagine your peace of mind having a convenient, just add water and simmer to prepare food supply on hand.

Image having a storable food supply to feed the kids when high energy prices keeps the trucks from delivering food to the grocery store.

Consider how happy you’ll be when you can pull off the shelf an easy to prepare meal when inflation pushes the price of food through the roof.

When any of the above happens, you’ll appreciate the quick and easy preparation as well as the taste of your storable eFoods. The meals are also great for outdoor activities (camping, etc.) and any other time you want the best tasting, most versatile food in the world.

So have the first meals on us and then enjoy the savings, convenience, nutrition, and security of eFoods Global.

Remember having a savings account in food can be much more valuable than gold and silver.

Take the Acts of Kindness (AoK) tour and choose your 12 FREE servings of our delicious food.

Gold Trading History

To understand more about gold trading one must look back to and understand gold trading history. This will help us realize why gold is so important in today’s unstable market and why it continues to be a commodity that can stand on its own.

The history of gold trading dates back to the London market in 1919. This has set the price for gold daily globally and was the standard or basis for gold contracts. The World War II interrupted all the gold trading industries in place of military industries. However gold was used by governments that participated in the war to fund their military operations. In 1954, the London gold market reopened and gold trading resumed for Europe.

During the early months of the 1960s, the U.S. government did not allow any form of ownership of gold. This made it impossible for Americans to participate in gold trading. During that time, the U.S was working together with Europe’s main banks to boost the American dollar through a stable price of gold worldwide.

At the end of the decade, the market suffered more downturns as the London gold market shut down to alleviate prices. The shut down caused a sudden demand spike, this caused a run on the price of gold and caused chaos on spot pricing and futures. The market shut down for two weeks so that market order would return, and when the market reopened private investors were shut out.

Today the London gold market continues to be the standard for gold contracts and prices. Beginning at 10:30 a.m. and 3 p.m. every day, gold prices are set and published. This is used by gold producers as official figures. The New York gold market also opens as the second London set occurs. After that gold is traded throughout the day.

From the early days of hand-crafted gold coins to today’s electronic trading system, gold has continued to attract strong investment relationships and interests. For as long as the perceived value of gold continues, gold will continue to stand on its own as an asset that can be traded. With today’s current financial downturns, it is not a surprise that gold will continue to be seen as a safer bet for worn out investment portfolios.

How to Trade In Your Gold Online

With the spot price of silver and gold hitting new highs, there are also companies coming out of the woodwork wanting to buy your silver and gold. Generally, I don’t recommend you selling your precious metals… rather, you should be acquiring more of it.

Meanwhile, you may have some old silver or gold and jewelery made of gold lying around in their drawers, or jewelery box. You might be considering trading in your gold online. You just need to remember a few things before you commit to trading in your gold online.

More on How to Trade In Your Gold Online

Deciding What Kind Of Silver Coins To Collect

Are you one of those people who are just getting into the silver coin collecting hobby? If are new silver coin collecting, the first thing that you need to do is to learn how to choose the kind of silver coin to collect. No, you cannot just go out there and pick up any coins that caught your fancy. You need to have a system if you want to come up with an impressive silver coin collection. To help you get started in silver coin collecting, here are some tips for you.

Getting Started

Before you start collecting coins, you need to know a good deal about history. Why? Coins are part of history and the more you know about history, the more you will be able to choose the right kind of coins to collect. Read a few good history books and take note of the coins that are minted and circulated during certain periods of time. Aside from reading books, you may want to join seminars on silver coin collecting and learn a few things about how to collect historical coins. Attending silver coin collecting seminars can also provide you with a venue to meet other coin collectors and learn something from them.

Working On Your Collection

Although there are no hard and fast rules when it comes to coin collecting, it is always better to work systematically when collecting silver coins.

First, you need to start collecting silver coins based on their country of origin. For instance, if you want to come up with an impressive silver coin collection, you can collect silver coins coming from Canada at a certain period of time. Keep in mind that Canadian coin prices are known to vary according to existing conditions in the coin market, so you will also need to factor in these changes when determining the Canadian coins you collect.

Second, you can collect silver coins by types or series. For instance, you can collect U.S. silver eagle coins. American Eagle Silver Dollars are authorized by Congress and produced by the United States Mint at West Point, New York and are legal tender coins with a face value of one dollar (though they are worth considerably more since the market price of one ounce of silver has been many times greater than one dollar for more than four decades).

You must understand that coin collecting is just like collecting bits and pieces of history so if you want to come up with a good collection of coins, you need to start by collecting coins from different times and periods.

Yes, collecting coins can be a lot of work and it could be quite expensive too but the good news is that if you are able to complete a set of coins minted on a certain period of time, that collection can fetch a handsome price in the market if you choose to sell it. Many coin collectors have made quite a fortune out of their collection after a few years of working on it.

Silver Eagles – Get ’em while you can

ISN Modern Coins is a trusted premier Modern coins dealer specializing in the sale of high grade modern day graded and certified government struck coins from around the world. Their wide variety of coins include but is not limited to “Mint State” and “Proof” American Silver Eagles, Australian Koala’s, Chinese Pandas, Lunar Series Coins and much more. No matter your coin need ISN Modern Coins more than likely can fill it.