How to Preserve Your Collectibles

If you collect coins, stamps, sports cards, or any other type of memorabilia, then you know that storing it and displaying it is a big part of the hobby. Preserving your collectibles will help them to retain their value, stay in mint condition, and showing it off to all of your family and friends! Conserving your collectibles does not have to be complicated or even expensive. The following tips will help you preserve whatever collectibles you have.

The most important part of storing collectibles is making sure they stay out of light, as it can damage and harm all sorts of collectibles, especially if they are made of wood, paper, or textiles. The colors in fabrics, such as shirts, can fade, and materials can be dried out. Old film, for example, degrades over time, and if exposed to light, the chemical reaction is sped up and can damage it sooner than expected.

Humidity is another factor that can affect your collectibles. Antique acoustic guitars, for example, should be kept in particular temperatures, and the dryness of the air can play a factor in storage. For most things, however, it is important to keep a good balance. Room temperature is always a good as most things will be preserved in a moderate climate. Paintings, for example, can become brittle and destroyed if you leave it in an area that is too dry, but if it is too humid, then metals and other objects can spawn rust and mold.

Cleaning your collectibles can be a hassle and potentially damaging if you do not know what you are doing. A reputable collectibles dealer, such as the Coin Galleries of Oyster Bay, can give you expert advice and equipment on cleaning your valuable collectibles so they will be worth something for years to come!

Collector trends, whats popular now

Although trends in collecting come and go, the same staples remain. Trading cards, stamps, and coins remain most popular things to collect, with more niche markets such as sports memorabilia, comics, and video games gaining more and more popularity.

Coins have been collected since the dawn of civilization, and have been continuously collected throughout history for as long as they have been minted. Collecting error coins is one of the most popular categories of coin collecting, and they will always retain their value and worth. Collecting coins from other countries or time periods also remains popular, and hobbyists are able to amass a large collection this way.

Stamp collecting is another popular trend at the moment, and will most likely continue due to limited editions being printed on a yearly basis and keeping collectors in tune. People collect stamps for a multitude of reasons, and as with any type of collection, interest and the laws of supply and demand will keep your collection retain value.

Sports memorabilia is a booming business, and along with trading cards, has a large following and can have a wide range of collectors. Baseball cards have been popular with kids since the nineteenth century, and ripping open a pack of cards either as a casual hobbyist or high-stakes roller will always provide a great thrill.

Comic books are certainly a more niche market, along with video games, but with iconic superheroes and gaming characters becoming more accepted in the mainstream, the cult status is disappearing. A 1938 Superman #1 comic sold for 3.2 million dollars, and prices in both markets for retro and original editions have skyrocketed. You never know what is laying around in your grandma’s attic!

Come down to the Coin Galleries of Oyster Bay to find your niche! We see all sorts of treasures every day, and can give you a great, competitive price for whatever you have found. From coins, to sports memorabilia, we have everything you need to get on what's popular in collecting today!

Is it real or fake?

We have all seen fake gold and diamond rings in those $0.25 toy vending machines outside of the supermarket, but how can you know if the ring you just purchased for your boyfriend or girlfriend is made with the same materials? A reputable dealer, such as the Coin Galleries of Oyster Bay, employ professional gemologists who can tell the difference between real gold and diamonds or a fake imitator, such as pyrite (fool’s gold) or cubic zirconia, which is worth far less. For the laymen out there, however, there are a few ways t tell if the gold or diamond you possess is the real thing or just a cheap imitator.

If you have a piece of jewelry you think is fake, it is best to take it to a reputable dealer or gemologist as they have the equipment and expertise to verify if the stone is real, but you can also perform a few tests at home to find out for yourself. The fog test is the most common and easiest way to validate your gemstone without professional equipment. Breathe hot air on the diamond as you would if you were fogging up a bathroom mirror. A real diamond will not fog up as the element does not retain heat, while a fake diamond will fog up for a short period of time.

The second easiest test to tell if a diamond is real is through checking it’s refractivity. Take a newspaper or any other piece of paper with writing on it, flip the diamond upside down, and look at the writing through the stone. If you cannot read the text, then you have a real diamond. A fake diamond will let the black shine through, and you may even be able to read what is written depending on the size of the stone.

Gold can be a little trickier to tell as not all home tests are effective, but you can get a general idea before bringing it to a reputable dealer such as the Coin Galleries of Oyster Bay. Check the actual piece for an official stamp or any discoloration as fake gold may rub off and expose a  completely different metal underneath it. The bite test, although not recommended, will leave indentations on real gold as the metal is very soft. A fake piece of gold will show no bite marks as most imitation metals are harder than real gold. Gold is not a magnetic metal, and if it is attracted to a magnet, the gold is fake.

Nobody wants fool’s gold or cubic zirconia, so if you believe you may have a fake piece of jewelry or gold, use the above tests or come down to the Coin Galleries of Oyster Bay to have a professional gemologist verify the value of your piece.

What You Need to Know to Start a Coin Collection

Coin collecting is one of the oldest hobbies, and was even called “the hobby of kings” throughout history as it was a favorite of royalty and aristocrats alike. The hobby fully exploded in the early to mid 1900’s in the United States when the U.S. Mint began issuing commemorative coins and still continues to this day.

If you have old coins laying around your house worth value, or have interest in starting a coin collection, it is best to know what other collectors target so you can set your sights on what interests you the most. Collectors and hobbyists alike are interested in low-number or rare coins, such as older currency (e.g: Confederate currency) or a limited edition coin only released during a certain time period (e.g.: the United States bicentennial coin). Collectors also look for what are known as error coins, which happen when the mint makes a mistake, such as mechanical doubling, die casting, or is off-center or a broad stroke coin.

Type collectors find a geographical region or time period to their liking (e.g.: the American Revolution) and seek out all coinage or paper money from this particular era, while novelty collectors seek out coins honoring a particular person or event, such as the yearly state quarters released from 1999-2008. Error coins and limited edition coins usually seek yield the money, but for those looking to for fun and not investment, type and novelty coin collecting can be very rewarding.

Starting a coin collections depends on what type of coins you would like to collect and how much you are willing to spend on the hobby.  An investment-minded collector will find better luck with bullion coins or error coins as they tend to be worth more in monetary value. The Coin Galleries of Oyster Bay is your one-stop shop to get started on your coin collection, whether you are in it for the fun or in it as an investment.

Most Expensive Sports Memorabilia

Collecting sports memorabilia is a tangible way to enjoy your passion for sports and to immortalize your favorite game or athlete. Sports enthusiasts know the excitement and personal value of owning sports memorabilia signed by a legendary athlete whom they idolize. Sports enthusiasts, who are also investors, know that the hobby of sports collecting can be profitable, especially for vintage and rare collectible items. The following lists some amazing sports relics that earned their collectors over a million dollars.

5.  The Sheffield F.C Rulebook - Sold for: $1,400,000

Soccer is, without a doubt, the most popular sport in the world, and it is no surprise that the handwritten rulebook belonging to the first ever professional team would bring in a major reward. The Sheffield F.C Rulebook was written in 1857 and is believed to be the oldest rulebook in history as many of the rules still being used today.

4. Honus Wagner Baseball Card - Sold for: $2,800,000

Surprise! The most expensive baseball card of all time is not a Babe Ruth card! The Honus Wagner card got its value due to the it’s pristine condition and the limited number printed, making it super rare and among the most coveted sports card in history.

3. Mark McGwire's 70th Home Run Ball - Sold for: $3,000,000

Mark McGwire hit 70 home runs in 1998, and his last one made sports aficionado Todd McFarlane happy to shell out major cash for the historical ball.

2. James Naismith’s Founding Rules of Basketball - Sold for: $4,338,500

Basketball stars are some of the most recognized athletes in the world. James Naismith, known as “the father of basketball”, wrote down the rules of the game in 1891. There would be no basketball without these documents, and thus makes them one of the world’s most important pieces of sports history.

1. Babe Ruth Jersey - Sold for: $4,415,658

It should not come as a surprise that one of the most expensive pieces of sports memorabilia once belonged to Babe Ruth, highly regarded as the greatest baseball player of all-time. Yankee fan or not, Babe Ruth is baseball’s most legendary player, and his most expensive jersey, from 1920, is the oldest Babe Ruth jersey in existence.

The Coin Galleries of Oyster Bay is proud have a part in your collection, whether you collect for fun or are looking to make some money. We buy all types of sports memorabilia, including autographed cards, jerseys, balls, as well as vintage cards, magazines and programs, and sell a wide variety of sports collectibles, most of which are autographed with a certificate of authenticity. If you are just getting started, or and avid collector, be sure to check out the Coin Galleries of Oyster Bay for all your sports collecting needs!

Buying and Selling Hollywood Memorabilia

If you love movies than you may be interested in buying some movie memorabilia as it is an investment that could turn into profit down the road. There are all sorts of Hollywood memorabilia out there, and if you happen to have something valuable or of limited edition in your possession, you could sell it and make a profit. If you are going to buy or sell some form of memorabilia, it is best to know what to sell or look for in a item, how to sell it, and how to prove it’s a legitimate piece of memorabilia.

Items that would could be considered of value as Hollywood memorabilia would be autographs from celebrities, screen used props and costumes, musical instruments used in concerts or films, and limited edition goods. Limited edition items include hats, shirts, or jackets commemorating the film for release or for an anniversary edition. There are also press and marketing materials that are valuable, such as lobby cards, standees, or posters.

Ads will need to be put up in the paper or online on sites such as eBay or Craigslist or you could even find a memorabilia dealer if one is in your area if you plan on making money and selling your merchandise. When posting an ad, use keywords that will jump out at people and make them interested in what you have to sell. State the name and the condition of the item clearly and give a detailed description with basic information as well as any details you can give on the item, such as the dimensions and weight, if it was part of a limited run, and if so, how many were released.

The condition of the item is very important as buyers look at that when searching for a piece of memorabilia they really want. The condition listings include mint in the box (MIB), where the item was previously opened but not damaged and in new condition, or new in box (NIB), in which the item is brand new and never removed from the package. A certificate of authenticity can also be procured for your product, which lists if the item was in limited quantity, autographed and when it was made. A certificate of authenticity will ensure you receive top dollar for an item in stellar condition and you may want to take the item to get appraised if you don't have one already and plan on selling it eventually. The appraisal or certificate of authenticity will give you a better figure of how much the item is worth and it also builds confidence in prospective buyers who will be able to see exactly what they are looking at.

If selling online, you will need to take pictures to show people your memorabilia, be it a poster, sword, or a mask. You should cover all angles of the item so people can see clearly and tell if there are any blemishes in the packaging or item itself. Be sure to make a background out of paper or poster board and have proper lighting when snapping pictures. Once you are ready to post, start at a low price to get people in and invested to try bidding or making an offer, and don't list a reserve price as it will discourage people from attempting to inquire. PayPal is the universally accepted payment method as it helps the buyer trust the seller, and vice versa. When shipping your item, make sure it is properly wrapped individually, and pack it firmly and securely in a box and seal it with shipping tape as it is much stronger than masking tape.

Buying memorabilia can be a fun experience and selling can also be rewarding and fun in itself. Good communication between buyer and seller is a must, and giving each other feedback could help you sell or buy something in the future. Be friendly, approachable, and available to answer questions about your item. If you do your homework on what you are looking to sell or buy, it will be smooth sailing for you.

Early United States Currency

Have you ever wondered what it was like to buy and sell things during the early times of our country? The United States dollar has been around since the Continental Congress of the United States authorized the use of it on September 8, 1786. Early currency went through a couple of different stages in the colonial and post-Revolutionary period of history. However, since the United States was originally only thirteen colonies, there were not a lot of coins being minted, causing foreign coins such as the Spanish dollar to be widely circulated throughout the colonies instead. Paper money was sometimes issued by colonial governments in order to ease the continuation of economic activity.

The Continental Congress issued paper money, known as Continental currency, during the Revolution in order to fund the war, but by the end of the war, it became practically worthless due to the government over-printing paper money in order to sustain the demands of the war.  The three types of money that were in the colonies of British America were commodity money, specie, and paper money. Commodity money was to be used when cash was low and things such as tobacco, beaver skins, and wampum were used as money at different times and places.  Even though each colony had its own value of money, they were all denominated in pounds, shillings, and pence, such as in Great Britain. The colonies began to issue their own paper money to act as an easier way to exchange goods and services.

Robert Morris was appointed to be the Superintendent of Finance of the United States following the collapse of Continental currency, and in 1782, he urged the creation of the Bank of North America, known as the first financial institution of the United States.

Visit us at Coin Galleries of Oyster Bay to shop or sell new and old coins!

The Most Famous Gemstones in the World

The Coin Galleries of Oyster Bay has specialized in the buying of old gold and jewelry for over 40 years and take pride in being an outlet for rare coins and memorabilia. Whether you are trying to sell or buy your gold jewelry, the professional coin dealers are proud of being one of the Long Island’s best coin galleries, and we treat each individual customer with respect and care. We buy an array of items from gold jewelry, silverware, coin collections and estates, gold and silver bullion, sports memorabilia, entertainment memorabilia, and coin collecting supplies.

The most famous gemstones in the world have exclusively been worn by some of the most prestigious and wealthiest individuals around. English royalty such as Queen Elizabeth II, Catherine, Duchess of Cambridge, actresses such as Elizabeth Taylor, and many former First Ladies of the United States are some notable figures who have been known for the extravagant jewelry that they wear. Have you ever stopped to think about where those gemstones came from? Or who made them? Or what they’re even called? The Coin Galleries of Oyster Bay has those answers!

Julie Ma of New York Magazine’s The Cut published an article called The 45 Most Gorgeous, Famous Gems of All Time in which she highlighted 45 of the most notorious gems in the world and gave a brief background history on each one.

Some of the highlights of this list were the Hortensia Diamond, which is named after the queen of Holland. The Koh-I-Noor Diamond, which currently sits on-top of the Queen Mother’s coronation crown from 1937 in the Tower of London. The Hope Diamond, believed to be cursed despite its positive moniker. The Cora-Sun Drop Diamond; at 110 carats, it’s the largest yellow pear shaped diamond in the world. The La Peregrina Pearl, which went from Spanish, French, and English royalty before landing in the possession of Elizabeth Taylor, a gift to her from her husband, Richard Burton. The Cullinan Diamond, which was discovered in South Africa, was cut into more than 100 pieces. The nine largest belong to the british royal family today. Then there is the Dresden Green Diamond, weighing in at 41 carats, it is the largest, naturally green diamond in the world. And lastly there is the Black Orlov Diamond. Supposedly cursed, legend has it a monk plucked it from the eye of a an idol of Brahma. It is alleged to cause violent deaths to its owners.

The Coin Galleries of Oyster Bay has locations in Oyster Bay, Lynbrook, Levittown, Huntington, Manhasset, and Plainview, and are open Monday through Saturday from 10am-5pm, with Sunday hours from from 11am-4pm at their Oyster Bay and Levittown locations. Stop by today, trade in your old gold and silver, take a look at our rare coin collection that you won’t find anywhere else, or see what promotions we have going on today.

Engagement Rings Throughout the Years

A ring or stone is forged and crafted as a symbol of the love and commitment from one partner to another. Did you know that the modern engagement ring has a history of origin dating back to the time of ancient Egyptians? It is said that upon ancient remains, a metal wire is seen to be tied and wrapped around the third finger upon those whom were married to show their tie of love with their partner, and the Middle Ages introduced the ever-so-popular diamond in which we use to display one’s engagement and it is said that the band to the ring played an important role as well.

During the 1600’s, the ring band changed from silver to gold upon proposal to the actual wedding date as it signified the rite of passage and vows as the newly married couple entered their new life together. The engagement ring evolved once again in the 1800’s as clusters of diamonds (shades and sizes) were crafted to set the middle and larger size diamond as a centerpiece.

As we transitioned from the nineteenth century into modern times, we saw the quick evolution and fast-paced trends that were put into motion as the color of wedding rings changed from yellow gold or ruby (often the color and gemstone used to symbolize by love). The rings also changed shape as they weren’t just limited to the diamond shape but became squared and even circular.

As engagement rings have evolved with new styles and trends throughout the years, there is no set type as old is new and new is old, just as the same could be said when it comes to clothes and fashion. However you wish to use as a token or symbol of your love, the perfect engagement ring will symbolize your very own love and commitment.

Why You Get a Better Bang for Your Buck When Selling Gold vs. Diamonds

Diamonds may be a girls best friend, but gold seems to be a better choice for when you are looking to make some quick cash. Gold has stood the test of time for thousands of years and makes for both a better investment and a better selling value as well. The same can not be said for diamonds, however, as diamonds have been artificially marketed and advertised for years to lure the public.

Gold has been considered a safe investment for years. There are some goods that fluctuate prices as the economy changes, such as oil, but gold does not fall under this category. The price of gold (per ounce) is the same globally, and if the market becomes flooded with gold, the price still won’t change. The constant price makes the value predictable and stable through time proves gold to be of more value than diamonds. Diamond prices change with the economy and their value automatically drops once it is purchased and leaves the showroom. Only high stake diamonds will hold value or become more valuable as time passes.

According to Todd Hills, CEO of Pawngo, an online pawn shop, customers will get the most for their money with gold in the pawning world. Hills says diamonds may be a good investment and notes that the value of diamonds change depending on the times but there is more of a demand for gold as the value of gold remains consistently high. Due to global uncertainty, many investors are attracted to gold. The economy is constantly wavering, and with no known expectations, people seek safe havens for their money and investments. It is common for investors to look at metals and more specifically they seek gold more than silver.

Consumers should do research and understand the scales before selling their gold. Although the weight of gold determines its value, jewelers use a different measurement scale called a Troy ounce. You should also know the karats of your gold. The Federal Trade Commission (FTC) requires that all jewelry sold in the U.S. must describe a karat fineness of the alloy. One karat equals 1/24 of pure gold, by weight. Therefore, if something is 14 karats, the jewelry piece is 14 parts gold and 10 parts other metals. If the piece is less than 10 karats it cannot be labeled as gold jewelry. Selling is about knowledge and you should know the current market price for gold at the time you are selling to get the most amount of money. You should also know what you are selling and how you plan to sell. Some gold items are even worth more if they are melted down.

Research is a necessity when planning to sell. Always keep up on the market value of the item so you are up to date with what it is worth and make sure you know enough before you sell to get the most bang for your buck. The Coin Galleries of Oyster Bay offers to buy or sell your gold, jewelry, and other precious metals and memorabilia.

How to Tell If a Diamond Is Real

Most people own at least one piece of jewelry, whether it be a gift, an inheritance, or an item they decided to buy for themselves. There should be some clarification to make sure the money is being well spent in the case that the piece of jewelry is expensive. You should able to check if a diamond is real should be something more people take into consideration when purchasing or selling jewelry. If selling to a jeweler, the person should be able to know if the diamond is real to estimate the value before heading to a buyer.

One of the first ways a person can check if a diamond is real is to look at the diamond and its setting through a loupe, which is a magnifying glass that is easily bought from jewelry stores allowing you to view the gem and setting much closer. It is important to remember that there will be imperfections in the carbon when looking at the diamond as the majority of them are made in nature. A fake diamond will look absolutely perfect under the loupe, but since some lab-grown stones will look flawless as well, it is important to double check with an expert before disregarding the stones.

A real stone will also have sharp edges while a fake stone will have rounded edges. If you don’t want to purchase a loupe, rubbing sandpaper against the stone will prove if it is fake or not as a real diamond would not be scratched by the sandpaper. A “fog test” can also be done by breathing hot air onto the diamond to see if it would fog, similar to how a mirror would fog by breathing hot air onto it. A real diamond would not be able to retain the heat and therefore it would not fog as opposed to a fake diamond.

If you are looking to buy or sell a diamond piece of jewelry, try to remember these tips, but make sure to check with the experts at Coin Galleries of Oyster Bay beforehand!

Selling Gold on Long Island

Gold has been soaring in the markets as of late as investors are becoming more and more worried about the global economy. Since there is growing concern over the global economy, safe-haven assets, including gold, are becoming more valuable and pricey. Gold has always been an easy investment for people unsure of the future of the economy.

On Long Island, gold should be something in which most people invest in. Selling gold while the global economy is in a state of uncertainty could be beneficial for both the seller and buyer. When selling gold, it is important to remember some tips in order to be sure you are receiving the best you can get. The first thing to remember is to understand the scales. Gold is valued by its weight, but jewelers use a different measurement standard, called the Troy ounce, when weighing gold.

Knowing what karats are and how they are used will also be beneficial in selling your gold jewelry. Being able to determine how many karats your jewelry has will help in making a decision on the scrap value. Separating your karats is also something to remember when selling your jewelry. If a dealer weighs all the jewelry together, they may pay you for the lowest karat value.

Be sure to know the value of your gold jewelry. The Coin Galleries of Oyster Bay will help you in verifying the current market price of gold before you sell it.

Along with knowing the value of the gold, it is important to be aware of what you are selling. If you have an item from a specific designer or maker, then it may be worth more to sell it as is rather than if it were melted down.

When selling your gold, always remember to be realistic while taking in all of these considerations. It may be hard to meet all of your expectations, but it is helpful to be aware of these tips to ensure you are getting the most out of your gold!

How to Make Money Selling Collectables

Making money off eBay or Craigslist can be both fun and profitable as you could get some extra pocket money for the weekend by selling things laying around the house you no longer need. The secret is that you could be making more than just pocket money if you know what you are doing. You can make a lot of money selling many different things, but nothing yields more money than collectibles, be it sports memorabilia, coins, antique instruments, duck carvings, or comic books.

First off, if you plan on selling and making money, you need to find something to sell! It's key to try to sell something that you know; maybe something that's been a hobby for years or even something you never thought of selling that could make a decent profit. I myself have been collecting comic books for over 5 years and it was actually my uncle's collection I first saw when I was young that really made me want to get into collecting. Selling what you know can give you a leg up when trying to research prices for items, especially if you're an expert in the field you wish to sell. If not, then you should try to find an expert that you can trust with your merchandise to help teach you the history of the items, the conditions they are found in, and how much they are worth. Try a pawn shop if it's an item you're not too familiar with, or if it's comics go to a comic book shop for some advice.

Although finding an expert is key, especially if you are trying to get an opinion for merchandise you already physically have, but what if you are starting from scratch and don't know where to begin looking for possible collectibles to sell? There are many places you can try to start searching, but some good examples are:

• yard or estate sales
• local auctions
• thrift stores
• pawn shops
• local classified websites (eBay, Craigslist, etc.)
• hobby shops (comics)

Condition is key when looking for merchandise to purchase and resell later on. Of course, original condition is always the best and will always be better than refinished or refurbished items. This doesn't necessarily mean used and damaged items are terrible. Depending on the item, the condition might not be as key if the items are rare or from a limited production run. If someone finds an old, beat up copy of Amazing Fantasy #15 (Spider-Man's first appearance), it's still worth bringing to an expert to assess the condition, poor as it may be, as there are not more than a 1,000 or so copies left in existence. You may be looking at a profit in the thousands, maybe millions!

Another pro tip for an auction or yard sale is to buy large amounts of similar items as fellow collectors could be interested in bulk merchandise, for example anything Star Wars or baseball related. Negotiation is your best friend! When you go to these places where the seller has a lot of merchandise, you can try to negotiate price if you are buying all the merchandise, as you are essentially closing the seller down, making his job easier and letting him go home too. When going to yard sales it is also recommended to go later in the day, when the seller has grown tired of standing around all day and just wants to be done. It could be a cheap ploy, but it's also a smart ploy; if you’re able to negotiate the seller to a lower price, he gets to go home, and you have more merchandise to sell!

When selling, you should keep several things in mind. First off, try to sell your collectibles offline in a physical store or auction so the potential buyer can physically see the items and their condition. This could put the buyer at ease and make them want to pony up the few extra dollars once they see what pristine condition you have kept your items in. Pictures can be misleading, so if you do choose to sell online, take the pictures of your merchandise yourself; don’t use Google images or other stock photos. It lets them see the actual condition without them being able to physically hold or look at the item. Also, as depressing as it may be, when selling to other collectors or collectible shops, keep in mind they will plan on selling the merchandise you just sold them. This is important to remember if selling to a store or shop, they will need to sell it for sometimes double of what they paid you for it just to keep profits coming in on their end. Try to negotiate to keep both parties happy, but don't get angry when you go in the store the following week and see they want an arm and a leg for your Batman statue; you know, the one that they only paid you a hand and a few fingers for? Business is great, isnt it?

One day many years from now, if you're lucky, your collection will still be going strong, but eventually your collectibles will outlast you. If you also had kids, or younger relatives, you'll want to leave your collectibles with someone you trust that will be around to take care of them for the foreseeable future. To make their jobs easier, keep records they can refer to if a potential sale comes up. Certificates of authenticity and original receipts are all good to hang on to. Recording what you think they are worth and why you bought them could be helpful to your heir(s). Lastly, if the heir doesn't know too much about your collectibles, then try to leave a name of an expert you trust that could guide them in your absence.

I hope to be collecting comic books or some type of collectible the rest of my life. They become a part of you, and memories will stir when looking or holding certain ones important to you. I've considered selling certain items I deem as collectibles, but I know that the longer I have them, hopefully the more they will be worth, and demand will outweigh supply. When you are ready to sell, seek out the proper help; make sure you aren't getting shortchanged out of something you really care about. Take care of your precious collectibles so hopefully one day they can take care of you!

The Most Expensive Penny

Have you ever heard the saying: “see a penny pick it up, all day long you’ll have good luck”? These sayings have been passed down from generation to generation, and whether you believe in luck or not, start collecting some pennies for they can make you incredibly rich. You are probably questioning how a penny, a coin with very low profit, can make you incredibly rich.

In the past, pennies were made solely of copper, but as time went on, the material used to make pennies also included zinc and steel, along with a slight percent of infused copper. The 1943 copper-alloy cent is reported to be the most valuable Lincoln penny of all as there are only 40 coins in existence made from copper. This means we should start scavenging for these pennies. If you are still questioning how one penny would benefit you, maybe this can persuade you: the 1943 penny is worth 1.7 million dollars, or at least what the last dealer sold it for. To put this in perspective, in 1958, the copper cent was sold for $40,000 dollars. As time passes, the value of this penny will only increase as the value of rare items increases with time.

As many people know about this fabulous penny that could make us thousands, if not millions, of dollars, scammers have found a way to create counterfeit pennies. How are these pennies made? The pennies are first coated with copper but still contain steel and zinc and the dates can be altered. How do you make sure your lucky penny is legitimate? Simply get a magnet and place it by your penny. If the penny sticks to the magnet, it is a fraudulent coin, meaning it is made of copper-plated steel.

When Is the Right Time to Buy or Sell Your Gold?

“One day, this is going to be worth fortune”. How many can attest to saying this at least once in their lifetime about an item that came into their possession? As many people collect different kinds of items (some for hobbies), many collect with the hopes of the object gaining value so that they may re-sell the item for a higher price at a later date.

Items such as jewelry, or gold specifically, are more popular when selling back to stores or buyers for a profit. As gold is profitable and weighed more heavily depending on the geographical area, it is seen as a valued item for trade and sales, hence the many different pawn shops and locations across the nation. Though when is the best time to do so? When selling back your gold, the objective is to make the best possible profit from its original value when it first came into your possession. How can you make sure this happens?  

Statistics show (and it helps if you are an investor) that it is key is to look when the Dow Jones gold price ratio is between 1 and 2. Also keep an eye on the gold to silver ratio. Gold must be sold at a higher price than silver in order to be viewed as more valuable, so make sure the ratio is always in gold’s favor. Another tip for those who keep a close eye on the economy is to sell is when inflationary policies are at a standstill, although nowadays this is almost never the case.  Keep in mind that when selling gold for a profit, take a look and examine your personal and financial perspective. As mentioned earlier, the best time to sell is when inflationary policies are at a standstill.

Although this has not been the case in decades, it is important to sell back your gold and make a profit when you personally see fit. As the market prices will continue to go up and items will continue to lose their value, what may hold financial value today may lose its value and decrease tomorrow. If you have a mortgage payment or stock investment you need quick cash to meet, it is best advised to take the opportunity and sell as soon as possible as the economy is going up by the minute!

Key Components in Fluctuating Gold Prices

The key components of fluctuating gold prices include many factors and variables. When people start to lose confidence in their government or in the financial market, gold prices often rise, which is why gold is usually referred to as a crisis commodity. A global crisis or world events can also have an impact on gold prices as it is seen as a safety net when the economy is rocky. Inflation is another reason for the fluctuation of gold prices as the actual value of what gold can buy is more likely to stay stable in the long run even though currency values may fluctuate.

Gold is a solid investment to make as it is low-risk and will stay valuable when paper currency value declines. The value of the dollar along with central bank instability are also factors contributing to fluctuating gold prices. When the U.S. dollar is strong, selling gold may be more difficult, but it can also be seen as an opportunity to buy. This is also seen with central banks as some investors may want the security of having physical gold rather than relying on the bank, increasing the value of gold as well and further validating the term “crisis commodity.”

Interest rates also play into the fluctuating gold prices as current gold prices are reflected by the increases and decreases in interest rates. Lower interest rates means a higher attraction to gold. Although gold can be seen as a crisis commodity and safe investment, it is also very valuable for jewelers and other certain industries. More than half of the demand for gold comes from jewelry and another 12% of the demand for gold is generated from industrial applications. Gold is used by manufacturers in various devices such as electronics, computers, GPS systems, and medical devices. There will always be a need for gold, which will cause the price to fluctuate frequently, but it will still be an important staple in the economy.

Precious Stones

Precious stones, also called gemstones, are mineral pieces cut and polished for use in jewelry and other types of ornamentations. Gemstones are classified by their hardness, translucency, and color, and their value is dependant on these factors as well as how common or rare the mineral may be. Gemstones are formed below the earth’s surface and their characteristics usually develop when interacting with water and other rocks and minerals around them.

Rarity as well as supply and demand are the main driving forces behind the prices of gemstones. Gems are characterized by gemologists based on their chemical composition, crystal structure (e.g.: cubic, hexagonal, monoclinic) and optical characteristics as well as their hardness (using the Moh’s Hardness Scale). The precious stones are diamond, ruby, sapphire, emerald, opal, and pearl, and differ in price and rarity from semi-precious stones such as garnet.

Buying gemstones can be difficult because, unlike diamonds, no official system of grading is used. The most common way of determining value has been by eye using the four C’s (Color, Clarity, Cut, and Carat), and because of this, it pays to only go to a reputable dealer so you do not buy fake or synthetic gemstones. The Coin Galleries of Oyster Bay has reputable dealers and sellers who know the true value of gemstones and are easily able to tell a fake.

It is important to set parameters and do your research before going out to buy any jewelry or accessories containing precious stones. Price point should be your main concern as gemstones can range wildly depending on their characteristics and rarity. Color is usually one of the main characteristics people seek out when looking for gemstones and you can narrow down your search if you know what you are specifically looking for. Come down to the Coin Galleries of Oyster Bay and have one of our reputable dealers help you pick out the perfect gemstone!

History of Gold in the U.S.

Gold is considered one of the most valuable precious metals and has been praised around the world for centuries. In the United States, we first started seeing and using gold in the 1500’s, and the “gold standard” was set in the late 1700’s and remained the same until 1934. Between the end of the American Revolution and 1823, the United States purchased 20 million dollars worth of gold. Spanish soldiers were using gold as a means of barter in California around 1824 and the buying price for gold rose in 1837.

In 1842, the gold rush saw its beginning when Francisco Lopez stopped for a rest in San Feliciano Canyon and dug up onions to eat. In the roots of the onions, he found particles of gold and discovered gold deposits nearby as well. Locals came in search of gold and within the year, experienced miners had been coming from Mexico in order to extract the gold for profit. Excitement over the gold had not been generated as there was not a lot of publicity regarding the gold. In 1848, gold was discovered on the South Fork of the American River and it was intended to be kept a secret, but in March, the newspaper The Californian published an article about it. With this article, the news of the discovery of gold became known worldwide and led to the beginning of the Californian Gold Rush.

By 1852, the amount of people that were engaged in mining had gone from 4,000 to roughly 100,000 and had stayed that way for a few years. The Gold Reserve Act had been put in place after the Great Depression in order to encourage people to spend their money to improve the economy rather than hoard it and damage the economy further. Throughout the following years, the price of gold had increased with the economy and in more recent years, it has reached an all time high price, showing the true value and importance of gold in the United States today.