Your Questions About Silver Foreign Coins

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Robert asks…

Can silver coins, 30 oz of them be taken on airplane hand bag?

I am traveling internationally to New Delhi, India. Can I take 30 oz if silver coins with me on the plane in a hand bag?

Justin answers:

You could but many foreign/budget carrier will not only weight your baggage plus your
carry-on then you might have problems with Indian customs carrying that much cash into
in their country it might not be allowed plus what would you if someone steals your handbag?

Steven asks…

Is there a website that I can go to to look up the value of coins?

I have a few coins that I collected when I was little, most of them from different countries… is there a place that I can go to see what they are worth? If anything?

Justin answers:

You should see if you have silver or gold coins. One way to find out is by dropping them on a hard surface with a piece of paper on top. Drop the coin on there and listen to the sound it makes. A Washington silver coin will make a high pitch ding. A clad Washington coin will make a dull ding. I don’t have a silver foreign coin but I don’t see why it wouldn’t make the same sound as a silver quarter. I think gold makes the same sound, but I don’t have any golden coins. I don’t really recommend you do this but if you don’t care about the coin you can. Just bring it to a coin dealer and he’ll tell you. Just be sure to check his reputation though.

George asks…

What to do with old foreign currency?

I appear to have inherited lots of old foriegn currency, coins from the 50’s 60’s onwards from all across the globe and also lots of Francs and Pesetas which are of course now useless. Is there anywhere i can get rid of the useless currency or even send any of the collected coins? It’s really little use to me in a jar.

Thanks for any help in advance!

Justin answers:

Modern world coins have little value unless they are made of silver. Small denomination coins from the 1940’s to date can be found in a coin dealers world coin box for from .05 to .25 cents each. They are hard to sell, but you may find a coin club in your area that would use them as gifts, to their young numismatist programs. They do special programs for kids. Maybe there is a handicapped coin collector in your area to give them too. I buy a lot of coins in bulk and give the ones I do not want to the school, to help teach history and geography. Or you can maybe do some work and look them up yourself and have a collection outside the jar in coin holders. Hope this helps

Donald asks…

Where can I exchange a foreign coin?

I have an old Brazilian coin from 1913 that says “2000 Reis” so i looked at a currency converter and it said that coin is worth a couple hundred US dollars but i don’t know where I can get that exact amount for an exchange. Where can i go to do this?

Justin answers:

First of all bank do not accept coinage for exchange only paper currency. Second of all Brazil now uses the Real not the Reis. Your coin has long been out of use as legal tender. It would buy nothing in Brazil. A 1913 2000 Reis coin is made of .900 silverand has .5787 oz of actual silver weight. That is over a 1/2 ounce troy. The coin if in low grade is worth at least the silver value minus a percentage for a dealers profit. As a collectable if the coin is at least in a grade of fine or above it is worth $7 and and up to $25 in higher grades. Dealers pay less and you need to find a world coin dealer. U.S. Coin dealers know little of world coins and will not give you a fair price only a silver value price. Hope this helps.

Daniel asks…

My brother is beginning to collect coins, what can he use to display them and where to get them?

My brother has assorted foreign and American coins of all shapes and sizes. Is there a type of display book that can display multiple sizes. If so, where can I buy them and if not, how should he display them? They are currently just in ziploc bags and wrapped in paper. They aren’t safe or in a nice display. He is only 11 so he doesn’t have much money to buy display materials though.
He has a state quarters book, but he is more interested in older and more unique American coins as well as foreign coins. He is trying to collect coins of countries that now use the Euro, but the coins that were in those countires before the introduction of the Euro.

Justin answers:

They make staple type cardboard holders with a Mylar window. The come is sizes from dimes upward to silver eagles. There will be a size, that will be close to the world coin your brother has. These 2×2 holders fit into a plastic page that will hold 20 of them. The pages are punched to be put into a common 3 ring binder. All these items are available from a coin dealer. Be advise that the 2×2 holders are usually sold in groups of 100 of the same size and cost around $5, usually less. To get more of an idea of what is available is you can go to www.brooklyngallery.com they are a large supply dealer and have good prices. They also have a catalog for $1.50.

Ken asks…

Where is the best place to buy investment silver?

Hi, I’m looking to invest in something and as I am not yet 18, I’m thinking of jumpIng on the silver boat with many others… I know a bit about investment and have work experience in a investment management agency, so I’m looking to start up my own portfolio of a range of investment items.
So where is the best place to buy silver?
And does anyone have a different view on the growth of silver in the future?
Oh and I’m looking to invest about £500, maybe more if I wait till after summer.

Thanks

Justin answers:

Just remember, when everyone jumps onto the band wagon in precious metals, then it’s probably time to bail out. Personally I see a price of less than GBP13/oz. In the next 2 years. Also, in the UK there is that nasty 20% price premium for the VAT, unless you buy your silver outside the UK and keep it in a foreign vault. And there are always Exchange traded funds, which are easy to buy and sell and you don’t have to worry on how to store, insure, etc. Your precious metals. So, here are some options for you:

http://www.silverpriceuk.com/2011/03/top-5-silver-coins-to-buy-for.html
http://www.bullionvault.com/
http://www.bullionbypost.co.uk/silver-bars/
http://etf.stock-encyclopedia.com/category/silver-etfs.html

Mark asks…

How to get an old coin clean?

My boyfriend has found an old coin at work and we have tried to get it clean using coke, vinegar and cillit bang and they were all a load of poop anyone have any more suggestions ?
To Lunatic…

Were not selling the coin before you kill me with your words.

Justin answers:

Well the tomato ketchup and other sauce methods are pretty smeary.

For copper coins its an easy and gently method ( without any rubbing and scratching ),
take a bowl and lay in it a piece of aluminum foil ( tin foil ),
boil water till its really bubbles and pour it in the bowl over the foil.
Add a pinch of salt, and then drop the coin inside!

The salt water will create a low electrical current with the aluminum foil and will dissolve and foreign objects and discolorations from COPPER and SILVER ware of any kind.

But of course if your coin is made out of another material than those two, then it wont work!
It might work a bit and lighten the coin, if that coin has some percentages of those metals in it!

With that method you than can also clean your precious Silver Cutlery from your Grandparents time!

Paul asks…

I’m a beginning coin collector. What’s the best way to get a lot of coins fast?

Like maybe an estate sale or something. I have no clue how to go about this, but I’ve got the fever and want to start obtaining a lot of coins instead of just a couple at a time. I don’t have a whole lot of money, but I do set some aside for this hobby.
Thanks for your help!
I find it sad that the first four responses were just idiots trying to get an easy 2 points for their mindless answers. Please continue to report people like these who abuse this site!

Justin answers:

I would recommend that you get a book with all US coin values like the book in the link below. It is a valuable reference in many ways. There is no “best” way to collect coins. Some people just collect Lincoln wheat cents or Morgan silver dollars. Some people just collect silver or gold coins. Some people collect error coins. Some people collect foreign coins or commemorative coins. Some people collect proof coins or mint sets. Some people collect just “key” dates or just the rarer coins. Some people search bank rolls for odd and valuable coins. An estate sale (even on eBay) can be a good place to get a lot of coins. You should decide what you want to collect at some point and do a bit of research, so you will know enough to be a smart shopper. I hope that helps.

William asks…

Can a Currency Trader legally obtain the foreign money they had traded for in coin form and cross the border?

A Currency Trader is a person whom buys foreign currency as an investment hoping the price will change so the trader makes profit when the trader trades back currency again.

A Currency Trader is completely legal and the trading process is usually done electronically and not physically because it is quick and easier than collecting the trade physically.

My question is if being a Currency Trader, can i legally obtain my foreign money in ‘coin’ form (because the metal is reliable compared to an electronic number) and then cross the border back to the United States with the traded coins.

For example-
Lets say that I want to trade $1,000 USD for Canadian Currency but i want physical Nickels instead of electronic numbers.
I think that it sounds reasonable because a trade is a trade, and shouldn’t matter if i want to spend the extra gas collecting the extra weight of $1000 worth of Canadian Nickels to take home or not.

Serious answers please. Thank you.

Justin answers:

Yes, of course you can.

But – why would you?

Coins are subject to the same rules as paper money – “The government has made a promise to…”

The paper itself is worth NOTHING and a coin, of any valuation, even the Canadian toonie ($ 2.00) by itself may carry the metal value of one to two cents. There is no silver or gold in any coins in the world these days.

Coins are bulky and heavy. It costs a lot of money to ship coins about. Would it surprise you to know that it has been statistically proven that the vast majority of coins hardly ever, in their lifetime leave the city they were issued in. They just go round and round between your stores and the local bank office.

Any one is free to buy any foreign currency (up to $ 10,000 without filing a police report) and carry them around, or put them under any mattress as you see fit.

A problem is that you pay more, get a worse exchange rate, when dealing with paper money. All currency trading is done in computers, even if you change between to accounts in your own bank.

A Canadian nickel weighs 2.35 g. 4,000 nickels would weigh 9.4 kg (20.7 lbs) It contains 96 % steel, a little bit of nickel, zink and copper plating. With a total scrap value at 0.27 c/lb, you would have carried $ 5.27 worth of metal over the border.

Don’t even think of trading in currencies. The sum of the GDP of the entire world is traded every 24 h, at the speed of the fastest computers mankind can design and build.

Are you better than that? To get the really, really scary facts, read this from NASDAC

http://www.nasdaq.com/investing/forex/how-a-24-hour-trading-market-joe.aspx

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