Another Laughlin Coin Show - Another Learning Experience

During my annual trip to Laughlin Nevada, I was able to take in another local coin show. This one was held at the Aquarius with about 30 dealers present and admission was free. There were the usual silver coins and a smaller number of gold coins that are normally found at these types of coin shows. That included lots and lots of Morgan dollars - both those certified by the major grading companies as well as a large number of uncertified dollars (so don't believe the hype that Morgan dollars are becoming scarce). But I was able to view some amazing old coins I'd never seen before that went way, way back - coins minted just a few years after the first U.S. mint was established in Philadelphia in 1792. Many were in great condition and the prices for these historic coins ranged from a few thousand to several thousand dollars so I was a looker only. But it was great fun to see that kind of coin history.

At the first dealer display I stopped at, a customer was completing the purchase of approximately 200 Walking Liberty half dollars. The dealer's price was $7.50 per coin or 15 times face. The customer may have gotten a volume discount but in smaller amounts that is not a bad price. These were circulated coins so each would have about .3575 troy ounces of silver (versus .3617 if uncirculated). Other dealers have told me that some customers of 90% silver coins are only interested in silver half dollars with the Walking Libertys much preferred. To me that is totally understandable. Not only is this one of the most beautiful U.S. coins ever minted, it was first struck prior to the U.S. entry in World War I,  was used in daily commerce throughout the Great Depression and all of World War II before yielding to the Franklin half dollar in 1947.

One of my few purchases at the show was a one ounce silver Mexican Libertad. The dealer had a few on display but this one stood out from the others because it was struck with such great detail. Almost like a high-relief coin compared with the other Libertads he had available. One side of the coin features a winged Victoria of Mexican Independence Victory Column in front of a landscape with two volcanoes which I can't pronounce (Popocatepetl and Ixlaccihuatl). The other side features the coat of arms of Mexico surrounded by historical Mexican coats of arms.

If you are not familiar with these coins, Mexican Libertads are government-issued gold and silver coins. The .999 silver Libertad was introduced in 1982 in one ounce versions only. In 1991, fractional Libertads of 1/20 ounce, 1/10 ounce, 1/4 ounce and 1/2 ounce were introduced and in 1996 2 ounce and 5 ounce Libertads were added to the series. Also, beginning in 1983, silver Proof Libertads became available in the one ounce versions with Proof fractionals added in 1993. You can find out more about these silver bullion coins at Wikipedia.

These are really great coins to own and if you find some at a price you are willing to pay, don't hesitate to invest in them. They are universally recognized and accepted. I have not heard of counterfeit Libertads being discovered but that doesn't mean they aren't out there. It pays to deal only with trusted sources for any precious metals purchases.

Thanks for reading. JA

Silver Eagles Off to a Strong Start in 2013

At the time of this post in mid-January 2013, sales of Silver American Eagles stand at 5,132,000 with lots of month to go. This is on course to mimic 2011 and 2012 in which January was the most productive month for Silver Eagles at 6,422,000 and 6,107,000.

The mint ran out of 2012 Silver Eagles in mid-December so buyers had to wait until January 7, 2013 to get their hands on additional coins, those bearing the 2013 date. So that 5,132,000 was achieved in less than half a month.

Dealers are reporting great demand in not only silver Eagles but silver Maple Leafs, 10 and 100 ounce silver  bars and 90 percent silver coins. If you are running into a shortage of silver pieces to buy, you might have better luck shopping for silver rounds and one-ounce silver bars. Anything with a Engelhard or Johnson Matthey stamp or hallmark is a plus.

Other options are lesser known government issued silver coins such as the one-ounce silver Mexican Libertad. Upon first seeing this silver coin, I thought the obverse was the reverse and vice versa.  It is the reverse that features The Angel of Independence (a reproduction of the one that stands atop a victory column commemorating Mexico’s War of Independence) with two volcanoes (Popocatépetl and Iztaccihuatl) in the background. The obverse displays the current coat of arms of Mexico surrounded by the historical Mexican coats of arms.


 The Mexican Libertad comes in both gold and silver in various sizes beginning at 1/20 of an ounce but I like the one-ounce silver coin as it has the heft and feel of a "real" coin, not the clad coins we usually have to deal with day in and day out.

In my last post I mentioned my first eBook on Amazon titled "The Last U.S. 90 Percent Silver Coins - A Buying and Selling Guide" which can be found at Last 90 Percent coins

I have just published the next in the U.S. Silver Coin Series titled "Tips on Buying and Selling Peace and Morgan Silver Dollars". In this eBook I expand on the Peace and Morgan dollars to include more grading information, where wear marks first appear and even a bit on cleaning these coins (with warnings about doing so). Priced at just $.99 you can find out more at Buy/Sell Peace and Morgan Dollars

Thanks for reading.