Things to know about silver and gold coins
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Following the interview, several people have asked me information on how and what type of currencies buy as survival insurance.
The first thing I have to say is that these coins are not bought with the aim of earning money with them, but of having a tangible value with which to buy essential foods in case of financial disasters.I always advise having enough currencies to live a couple of years.
Coins or ingots?
Lagets do not interest in the case at hand for several reasons.
Gold or silver?
For usual transactions, silver coins have the appropriate value.Gold coins would only be used to buy expensive things, which are not usually bought when the future is presented with clouds.
For people with a good heritage, you can put 3 parts in silver and 1 in gold as diversification.
SILVER COINS
We could classify silver coins into 3 great types, with their different advantages and disadvantages:
1 - 12 euros coins of the Bank of Spain
These coins were issued between 2002 and 2010.Here you can see all emissions.
These currencies have the advantage that they can be purchased at a price very close to 12 euros, and as the Bank of Spain pays them to 12 euros whenever you want, if the silver low you can miss very little money with them.On the other hand, if the silver goes up, they can be sold at the price worth the silver they contain (18 grams of silver of 925 thousandths of purity).That is, you can miss very little and win a lot, in addition to covering you from the devaluation of colored paper.Another advantage of these coins is that falsifications do not circulate, apart from the fact that its sound is inimitable.
The disadvantage is that its silver content is less than 12 euros, and if money is invested in these coins, less money is obtained from which it could be purchased in other types of coins.Depending on the risk aversion of each one, it must assess what type of currencies they agree.
There are several forums on the Internet where silver coins are requested and offered.Those who are interested, in the comments I will try to find them where they can find the type of coins in which they are interested.
2 – SILVER COINS CIRCULADAS
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There is a very large variety of silver coins that once circulated.Each emission has a different purity and weight.
These coins can usually be purchased for the price that is worth in the market the pure silver they contain, discounting the alloy.
We have a free use program that values the most common silver and gold coins in real, saying the value of pure metal they contain in euros and dollars.In this way it is known if the price they ask for for each type of currency is reasonable.Other coins can be added to the program saying the weight and purity of each currency.
The program can be downloaded here.In the compressed file a bond profitability calculator is included.
Price-monses:
Download Preciomonedas2020 program
Once decompressed, run price coins.exe
To buy this type of currencies it is convenient to have experience about what is bought, or have full confidence in the seller.
3 - New Silver ounces and collection
This type of currencies is not advisable as hunger insurance.They usually sell them at a price higher than their metal value, as a collection object.
If there comes a time when they may need because things have become black, it is unlikely that anyone pays an extra price for a collectible object, and grant the value of the silver it contains.
At the request of some readers, including myself, Fernando has made a post to expand this type of premium coins in his great blog about precious metals.Here I leave it:
Silver coins with Premium
GOLD COINS
There is a quite sure way to know if a gold coin is really gold.Each gold currency that has been emitted has a weight, an alloy, a diameter and a thickness.All that can be seen on the Internet.
As gold weighs much more than the rest of metals, if they make a coin with another metal, or add another metal in the alloy, it would no longer add the weight with the measures of the currency.If the currency carries a metal that is not gold, which weighs much less, or the currency will weigh less than it should weigh, or will have a greater diameter or thickness than normal so that it despite the same thing.
With a scale that can weigh 100 grams with a precision of hundredths of gram, and a king's foot, 99% of the false gold coins can be avoided.
The tungsten has the same weight as gold, and use it to falsify gold bullion, but it can't be put into small coins.If someone wants to buy a bullion, the only solution is to cut it into 20 pieces to see that there are no tungsten plates, having proven that the weight and the measurements correspond to the weight and volume of a gold bullion.
