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Silver – historical relevance in the form of precious metals

Silver has been around for centuries, and there have been a number of impressive and noteworthy silver collectors in this time across Europe and the Americas. The 19th and early 20th century were particularly popular periods for silver Canadian coins, and collectors were famous across the continents for the collections they kept.

With links to the art world and investing, collectors were influential and internationally known, even back in the nineteenth century. Alfred Pringsheim was a German mathematician based in Munich, who was an art lover as well as avid precious metals collector. He carefully purchased silver objects as well as paintings and other pieces of art and gathered over 100 pieces in his day which were very tastefully presented, often behind closed doors and shown to a few, select people.

After being stolen during the war by the Gestapo, the pieces were redistributed back to the Pringsheim family in the 1950s and are now spread across collections and museums around the world.

Silver is a fascinating precious metal in that it comes in various different forms with different historical relevance.

Silver in the modern world

There are many silver-lovers throughout the centuries alongside Pringsheim, who show us how valued the precious metal is and has been over the years.

The ways in which silver is presented has changed throughout the years, with special cabinets and vaults becoming more prominent throughout the 20th and 21st centuries, presented in carefully designed, beautiful environments.

People also tend to simply live with their silver items nowadays, which brings the collector closer to the pieces they’ve acquired, deepening the appreciation they feel for each item in their collection.

What’s the difference between bullion, proof, uncirculated, and circulating coins?

Bullion coins

Bullion Coins are precious metal coins intended for investors. They are:

  • Valued by the weight of the precious metal, which fluctuates based on its daily price.
  • Not sold to the general public through the United States Mint. Instead, these coins are sold through dealers located throughout the United States.

The remaining qualities of coins are sold directly by the United States Mint to collectors and others as gifts and keepsakes. They are:

Proof coins

Proof Coins are the finest quality of coin produced by the United States Mint. The term “proof” refers to the coin’s finish. Proof blanks are specially treated, hand-polished, and cleaned to ensure high-quality strikes. The blanks are then fed into presses fitted with specially polished dies and struck at least twice. The coins are then carefully packaged to showcase and preserve their exceptional finish. These coins:

  • Are struck at least twice, which gives the coin a frosted, sculpted foreground for a glamorous shine; defined, intricate design; and mirror-like background.
  • Come with an official Certificate of Authenticity.
  • Are encased in a protective capsule.

Uncirculated coins

Uncirculated coins are hand-loaded into the coining press and struck on specially burnished blanks, yet have a soft, matte-like finish appearance. These coins:

  • Are made like circulating coins (which are used everyday as money), but with a special process that produces a brilliant finish.
  • Come with an official Certificate of Authenticity.

Circulating coins

Circulating coins are produced for circulations, but those sold directly by the United States Mint are never released to the Federal Reserve Bank. These coins:

  • Are typically offered by the Mint in rolls, bags or boxes, which do not include Certificates of Authenticity.

Investing in Precious Metals IRA? Don’t Make These 6 Beginner Mistakes

With so much uncertainty surrounding inflation, supply chains, and the general economy, an increasing number of people are turning to precious metals IRA as secure long-term investments. With that said, it’s important to remember that there are certain risks associated with any investment, and precious metals are no exception. Understanding the many misconceptions and intricacies of precious metals can help you avoid losing money or potentially getting taken advantage of when you make a purchase.

The precious metals market in the U.S. is currently valued at more than $182 billion, with analysts predicting continued growth into 2027 and beyond. Meanwhile, inflation rates continue to rise throughout the country in response to unprecedented economic factors. These uncertainties have fanned the flames of the global precious metals market in recent years, causing many Americans to consider investing in liquid assets such as gold or silver as a means of protecting their hard-earned wealth.

Before you leap into buying gold, silver, platinum, or palladium for your precious metals IRA, it can help to start with gaining a deeper understanding of how the market functions. Here are six beginner mistakes people frequently make when buying precious metals for the first time.

Mistake No. 1: Overlooking the Potential of a Precious Metals IRA

Many new investors tend to focus on buying coins or bullion, but it’s also a smart strategy to reap the benefits of precious metal prices without needing to store the physical metal yourself. Similar to a traditional retirement account, a self-directed precious metals IRA contains holdings of gold, silver, platinum, or palladium with at least 99.5% purity.

Contributions to a precious metals IRA go toward the acquisition of these assets from a qualified dealer, after which they are transported to a secure facility for storage coordinated with your IRA Custodian. Here, your metals will remain protected under lock and key until you decide to close your account, RMD (Required Minimum Distribution) or liquidate your holdings. Although there are storage and maintenance fees associated with precious metals IRAs, this type of investment is an excellent way to get exposure to the market without taking on a tremendous amount of risk.

Opening a precious metals retirement account or a more targeted gold IRA provides attractive growth potential when compared to investing in stocks, bonds, or mutual funds. For one thing, metals like gold are finite resources, and this scarcity puts continual upward pressure on their value. This is why metals like gold and silver have successfully weathered economic downturns for hundreds of years, insulating investors from sudden currency devaluation and other unforeseen financial crises.

Mistake No. 2: Buying From Unverified Dealers

The value of any precious metal is contingent on its purity, so it’s important to buy bullion, coins only from a certified precious metals dealer. There are plenty of bad actors looking for inexperienced investors to scam. Before you buy, make sure you’re purchasing IRA approved gold, silver, platinum, and palladium from a verified, authorized provider who can guarantee the authenticity of their inventory. View IRA Eligible coins we have for sale.

Take the time to acquaint yourself with the difference between karat weights and how they impact a precious metal’s price. For investment purposes, it’s usually best to focus on buying only the purest possible ingots or coins. If you’re uncertain about a metal’s purity or providence, it’s probably best to move on to another dealer you know and trust. Many pawn shops and online retailers may appear to offer excellent deals on precious metals from time to time, but unless it’s a reputable source, you can never know for sure what you’re buying. Another great question to ask when vetting out dealers is where to they house/store their coins.  Wall Street Metals IRA houses all their coins at the Delaware Depository.  This same depository most of all of the IRA custodians use to house your coins when you purchase them.

Mistake No. 3: Being Fixated on the Spot Price

Another common mistake new investors make is getting too wrapped up in the current spot price. The going rate for 1 ounce of a metal like gold or silver will fluctuate daily, but its long-term growth potential largely remains consistent.

Instead of following price changes every day with bated breath, it’s much better to take a broader perspective when buying precious metals. Try to avoid feeling anxious about slight drops in prices over a few days or weeks and instead try to think about appreciation over many years.

Although many investors may sell stocks the moment their value drops, this approach isn’t recommended with assets like precious metals. Remember, every sale of gold comes with a premium, and panic selling at or near your buying price can lose you a hefty sum of money. The appeal of investing in gold, silver, platinum, or palladium is that these assets tend to retain their value over time, so don’t get scared off by a small drop in the spot price shortly after buying.

View Charts page can keep you up to date & educate you on all four metals spot price. You can also input day, month & year to view historical data from years prior.

Mistake No. 4: Not Doing Your Research

Those who are inexperienced with precious metals should take the time to study the market, identify trends, and explore all the avenues for investment. Because risk profiles and financial objectives vary from person to person, you’ll want to find an opportunity to enter the market that you’re comfortable with. This could mean buying Silver Coins & Bullion or simply purchasing a few pieces of 1/4 oz Gold Coins for home storage to keep in a safety deposit box.

In short, even if you expect outstanding returns, it’s usually best to avoid jumping into precious metals without doing your fair share research first. For professional advice and guidance, it may help to speak with a precious metals expert before committing to any major financial decision.

Mistake No. 5: Being in It for an Immediate Return

So long as the U.S. dollar remains relatively stable, you’re unlikely to see a sudden spike in the price of precious metals. In this way, investing in gold, silver, or other precious metals is a long game, and not a get-rich-quick investment strategy. Expecting overnight returns on your investment is not a viable attitude when it comes to this class of assets. Instead, successful investors in precious metals recognize that gold, silver, platinum, and palladium serve primarily as a highly secure store of value.

Although precious metals rarely skyrocket in price over the short term, coins, bullion, and jewelry are solid investments due to their resilience against market pressures and their ability to grow steadily over time. Resistant to inflation, precious metals are excellent at providing a buffer of protection if there is ever an economic collapse that paper currencies can’t survive. If for any reason the U.S. dollar loses its purchasing power, precious metals like gold will likely become a standard of currency for many just as they have done throughout history.

Mistake No. 6: Not Properly Diversifying Your Portfolio

Creating a healthy, diversified portfolio of investments is often one of the first things a new investor tends to overlook. Try to avoid putting all your eggs in one basket if you’re interested in entering the precious metals market.

As a general rule, many financial advisers suggest allocating 10% of your overall investment portfolio to precious metals, with the remaining 90% going to traditional investments like stocks, mutual funds, or ETFs. Likewise, it’s essential to diversify your holdings within that 10% devoted to precious metals. In other words, consider allocating 3% to mining stocks, 3% to silver bullion, and 4% to a gold IRA. Finding the right combination will depend on your unique financial goals.

Start Investing in Precious Metals With a Trusted Partner

The current economic climate has many people asking themselves, “Should I invest in precious metals?”

At Wall Street Metals IRA, our answer is a clear and resounding yes. If you’d like to secure assets like gold bullion, silver, or other precious metals, you’ve come to the right place. We have a wide selection of IRA Eligible Coins to suit your investment preferences. We will beat any competitors quote and if we aren’t able to, we will give you $1000 in FREE SILVER! Those interested in saving for retirement, ask us about opening a gold or silver IRA and start building wealth for the future. No matter what you’re looking for, our team at Wall Street Metals IRA has what you need. Let’s start a conversation today! CONTACT US

Why Now Is a Good Time to Exchange Your Silver for Gold: How to Buy Gold and Silver

The coronavirus pandemic shattered the world’s workday culture and affected countless industries, but it also directly impacted the precious metals market. As the pandemic hit, the price of gold increased dramatically, followed by a plunge in the price of silver.

Since March of 2020, silver has rallied strong and sits at a healthy price evaluation. During that time, gold has remained relatively consistent in the price for the past two years. This dynamic points to the current buying power of silver, and the profitability investing opportunity to stockpile gold assets.

Why Exchange Your Silver for Gold?

In the past three years, the price of gold has risen by a whopping 43%, reaching a high of $2,067.16. With a three-year increase of $538.39 per ounce (42.46%), gold has undeniably performed much better than most other precious metals.

Meanwhile, the per-ounce price of silver has experienced a $7.40 (48.36%) increase in price over the past three years, reaching a high of $29.59 during this period. However, its current price sits at $22.69 as of December 2021.

As compared to other precious metals in the market, gold has not only performed impressively but is also expected to continue to do well in the future. It’s common for people to trade their silver assets for gold for the following reasons:

  • Long history of value holding: Paper currency and other metals have experienced significant blows in terms of valuation over the years. But gold has managed to maintain its value throughout a variety of time periods and economic trends. In fact, it has become a symbol of generational wealth in many parts of the world.
  • Inflation hedge: Gold is a remarkable anti-inflation hedge because it keeps or increases its value in the face of inflation.
  • Deflation protection: Deflation is when the price of goods and services decreases, as does the average income. During such times, gold’s price often jumps in value.
  • “Buy and hold” investment: Gold doesn’t generate regular income, but it’s a great investment for buying and holding over time as it increases in value with more certainty and stability compared to other metals such as silver.
  • Geopolitical uncertainty: Gold does a great job of maintaining its value during times of sound financial and political conditions. But it manages to stay afloat even during times of financial and geopolitical uncertainty. It is one of the few investments that hold value in times of upheaval or complete economic downturn.

Although silver is also doing well in the face of the current economic conditions, gold remains a more reliable and predictable investment option for the years to come.

Why Turn Silver Into Gold?

The current valuation is 78.7 ounces of silver to 1 ounce of gold. In the past five years, the highest multiple has been 123.5, whereas the lowest was 63.1. So the current valuation sits at an attractive point.

Silver is experiencing a spike in price, with a $7.40 positive change in the past year. Silver is also expected to be a highly desired precious metal in the coming years because it’s used for many technological innovations, such as 5G devices, electric cars, and solar panels.

The price of silver could potentially rise in the future, allowing ratio traders to sell it to buy gold instead. That’s because ratio trading involves selling the higher-priced metal and buying the relatively undervalued one.

Meanwhile, the current rate of inflation coupled with the recent low in gold’s price has opened the door for investors to capitalize on gold. This boom in silver price and the slight dip in gold prices presents a ripe opportunity to transfer silver assets into gold.

It’s essential to keep in mind that gold has a better return on investment than other metals. Additionally, it’s more dependable and favorable due to its promising history of value maintenance.

How to Play the Gold-to-Silver Ratio

The gold-silver ratio measures the number of ounces of silver needed to purchase a single ounce of gold. Investors use the change in the gold-to-silver ratio over time to estimate both metals’ relative valuation.

For instance, if gold trades at $1,500 an ounce and silver trades at $15 an ounce, it would take 100 ounces of silver to buy 1 ounce of gold. Thus, the gold-to-silver ratio is 100-1.

Likewise, if gold were trading at $1,000 per ounce and the price of silver were $20 per ounce, the gold-to-silver ratio would be 50-1, as you would need 50 ounces of silver to buy 1 ounce of gold.

Right now (December 2021), the gold-to-silver ratio is 78.7-1, which means 78.7 ounces of silver will buy 1 ounce of gold.

Although the ratio may seem to be high, those familiar with the market will project that this is a favorable ratio to try and flip silver for gold. The silver-to-gold ratio can fluctuate depending on several factors, such as financial instability and geopolitical conflict.

The ratio currently steers on the high side due to the following reasons:

  • Economic uncertainty
  • Low-interest ratesLow U.S. Treasury yields
  • U.S. dollar weakness
  • Instability in the equity markets

Gold is the more sought-out investment opportunity due to its higher value and ability to withstand financial instability and inflation. Because gold is viewed as a more valuable asset in the current market, it’s advisable to invest in gold rather than silver.

One approach is to make decisions based on the ratio and trade back and forth on the two commodities. Simply put, if one metal is cheaper relative to the other, you would sell the ”overpriced” metal and buy the ”undervalued” metal. When the ratio changes after some time, you would exchange the metals accordingly.

Let’s use an example for better clarification:

  • You possess 1 ounce of gold, and the ratio goes up to 80-1. You would then sell your 1 ounce of gold for 80 ounces of silver.
  • When the ratio goes down to 40-1, you’ll sell your 80 ounces of silver to buy 2 ounces of gold.
  • In this way, you’ll continue to gather quantities of the metals by considering the ratio trends and maximizing your holdings. In this example, you’ve doubled your investment by going from 1 ounce of gold to 2 ounces just by trading the gold-to-silver ratio.

Limitations

Although the gold-to-silver ratio can help you multiply your investments, it can be a bit tricky at times. The difficulty in this regard is identifying the relative valuation of the two metals.

Suppose the ratio goes to 80-1, and you buy silver. But the ratio then continues to increase in the next three to five years, going up to 120-1 or even 150-1. Now, you’re stuck with the silver.

If, for some reason, you have to trade back to gold in this period, it would mean a contraction in your holdings.

Alternatively, you can buy more silver and add it to your holdings, but there’s no certainty that the ratio will continue expanding in the future. Investors must be wary of this risk when using the gold-to-silver ratio as an investment strategy.

If you monitor the prices and ratios closely, you’re likely to suspect an upcoming extreme increase in the ratio before it happens. Here are some tips for using the gold-silver ratio wisely:

  • Do not give into the hype. Instead, stick with a level-headed trading strategy.
  • Ensure that you have a clear goal in mind before jumping into an investment. Knowing what you want to achieve makes it easy to monitor the ratio and react accordingly.
  • You must be patient when using the gold-to-silver ratio for investing purposes. In fact, it takes a considerable about of time and patience before you see the results if you trade back and forth on the ratio.

The gold-to-silver ratio is not easy to use for short-term trading activities – nor is it recommended. That’s because changes in the ratio are more gradual than abrupt. But it’s quite advantageous when you’re in it for the long term.

Where to Buy Gold and Silver

Now that you know about the gold-to-silver ratio and its mechanisms, you likely want to know how to buy gold and silver. Wall Street Metals IRA is a reputable dealer and buyer of precious metals, where you can find gold and silver in a variety of forms.

What sets us apart from the competition is our transparent pricing and expert industry knowledge. Our dedicated team of precious metals advisors is here to assist in any gold and silver questions and investment concerns you may have. Contact us today to exchange your silver for gold, and view our wide inventory of available precious metals.

Should I Invest in Gold? 3 Ways to Secure Your Future

No matter where you are in life, it’s never too late — or too early — to start thinking seriously about investing. The single best time to think about the future is yesterday, and it’s generally advisable for people to begin investing immediately after entering the workforce. Given time, you will likely start receiving investment advice from friends, family, or financial advisors regarding where to put your money and how to diversify your portfolio. Whether you’re considering buying stocks, cryptocurrency, or commercial property, there are innumerable investment options available to meet your overarching financial objectives.

One of the more widely discussed investment options today is precious metals, and for centuries, gold has remained among the most valuable. But to what extent is gold a viable vehicle to put your money in when compared to traditional investment options such as mutual funds or stocks?

According to a 2020 Gallup poll, some 16% of Americans regard gold as one of the best long-term investments available. This has many people asking, “Should I invest in gold?”

And the short answer to this question is yes, without a doubt. Regardless of your financial goals, liquid assets like gold are an excellent addition to any portfolio.

Few investments can match the longevity, security, and flexibility attached to this increasingly scarce metal. In short, gold is a smart, safe, and profitable method to grow your money. With the volatility attached to the economy, swinging inflation, and performance dips in other holdings, savvy investors are buying gold in a variety of formats.

The Value and Upside of Gold

Few other precious metals can compare to the resilient value of gold. In just 20 years, the price of gold has increased more than sixfold from a mere $264 an ounce in January 2000 to more than $1,800 in December 2021. This value continually outperforms other precious metals such as silver, which is currently priced at $19.80 per ounce, and even platinum, which goes for $942 per ounce.

As a finite resource, gold manages to retain its value due in large part to the fact that it’s impossible to create more of this rare natural resource. Because gold is so scarce, the metal is likely to only increase in price in the years and decades to come, making it capable of weathering virtually any economic downturn, financial collapse, or unforeseen event in the global marketplace.

Due to its resilience and consistent positive valuation, many financial advisors recommend devoting at least a small portion of an investment portfolio to assets like gold. Next to real estate, gold remains among the leading long-term investments Americans choose to include in their portfolios. One of the most attractive aspects of gold is its flexibility and versatility because it may be used in several different capacities to build wealth. For instance, some investors prefer to purchase gold coins and physical bullion, whereas others find that an authorized gold IRA is the better option for their goals and preferences.

Potentially the biggest advantage to holding gold is its consistent resistance to inflation. Paper currencies like the U.S. dollar are poorly insulated from market trends, and during times of high inflation, like today, holding cash can eat away at your valued wealth over time. Regardless of economic factors, political upheaval, or financial crises, gold will remain one of Earth’s most prized natural resources. For these reasons, among others, gold will remain a safe and lucrative investment to include in any healthy, diversified portfolio.

How Investing in Gold Can Secure Your Future

Unlike investments such as commercial property or luxury vehicles, gold is highly liquid, meaning it’s easy to exchange it for cash if the need arises. This liquidity ensures that purchasing gold presents a minimal risk to the investor and instead provides a store of value to hedge against more volatile investments. Devoting just a tiny portion of your portfolio to gold can create an insulating barrier against currency devaluation, inflation, and the many economic uncertainties facing the world today.

With gold eyeing the $2,000-per-ounce mark, investors should consider buying gold sooner than later as its price is projected to continue trending upwards in the coming decades. Some forecasts suggest gold’s price may increase substantially in just a few years, possibly reaching $3,200 by 2025. With the limited downside and almost unrestricted growth potential, many investors are scrambling to acquire this precious commodity before the barrier to entry becomes too great for the average American.

Gold has long positioned itself as the epitome of wealth, luxury, and success. The recent momentum has only further bolstered its appeal to investors, making this precious metal one of the best assets money can buy today. Here are five ways gold can help you build a brighter future well into retirement, giving you the monetary flexibility you need to meet your unique financial objectives during your golden years.

1. Gold IRA

Similar to a traditional individual retirement account, a gold IRA allows an investor to acquire holdings of actual gold instead of more conventional assets such as cash or stocks. Although opening a gold IRA gives you ownership of gold bullion, there are certain caveats. For instance, only certain forms of gold qualify for inclusion in a gold IRA, and the purchased bullion must be securely stored by an approved custodian. This custodian will hold your gold during the lifetime of your IRA until you decide to close your account or sell your gold on the open market.

Due to broker and storage fees, the costs of maintaining a gold IRA are usually higher than the maintenance fees for an IRA backed by regular assets. On the other hand, owning a portion of physical bullion through a gold IRA can provide your portfolio with a strong hedge against inflationary economic conditions, preserving your wealth in the process. In addition, because your gold remains safely stored in a secure facility, you’ll never have to worry about theft or asset loss.

Gold’s increasing valuation makes this precious metal a strong investment for augmenting your long-term retirement plans. With a gold IRA, you can benefit financially from gains in the bullion market without having to go through the trouble of handling the metal yourself. If the past 20 years were any indication, gold prices will likely continue to climb well into the future, making this investment option an excellent choice for those who are risk-averse.

2. Gold Coins

Another way to secure your financial future with gold is to purchase gold coins from a certified dealer. Unlike larger gold bars, coins rarely exceed 1 ounce in weight and are typically much easier to liquidate than larger denominations of bullion. Coins minted by sovereign nations are among the most valuable because it’s easier to trace their providence and trade them in for cash. Some of the most sought-after coins include the Canadian Gold Maple Leaf & British Gold Britannia.

Many investors choose to purchase gold coins simply because they prefer to hold the asset physically instead of monitoring a gold IRA or gold stock portfolio on paper or computer. This approach to owning gold avoids the fees of custodial storage and can offer a greater sense of security for the more pragmatic investor.

The most substantial advantage to holding gold coins is that they can be sold or traded at a moment’s notice. When you make a purchase, you are paying for the premium and shipping of the coin upfront, ensuring there are no additional costs involved in the process. Meanwhile, you’ll have a precious heirloom to pass on to your family that can help you preserve wealth for generations to come.

Gold coins are an ideal long-term investment due to their consistent desirability on the open market. If or when you decide to sell your coins, you’ll find an abundance of interested buyers thanks to their affordability and value as collectibles.

3. Gold Bars

To purchase gold in its purest form in denominations of 1 ounce or more, gold bars are an excellent option. The main advantage of buying gold bars is that they often come with a lower premium. For example, each gold coin purchase comes with a premium fee attached, which can make buying several individual coins an expensive endeavor. However, many gold providers will offer discounts on the premium over the spot price when customers buy in bulk. This means that when you buy gold bars weighing 5 ounces or more, it’s possible to save a substantial sum upfront.

One of the major draws for investors in gold bars is the ability to physically hold them like with coins or jewelry. Whereas some prefer to store their gold bars in a personal safe or bank security box, others may opt to allow a third party to handle storage.

Gold bars are ideal for those who wish to utilize a greater single source of value instead of buying multiple coins or pieces of jewelry. Gold bars are relatively easy to sell, but bear in mind that, because higher denominations are less affordable, it may be challenging to liquidate them at a moment’s notice.

Invest in Gold With Wall Street Metals IRA

Are you thinking about investing in gold to diversify your retirement portfolio? Or interested in home storage options? Our team at Wall Street Metals IRA can help you reach your financial goals. We offer a wide range of quality, certified precious metals, including gold, silver, platinum, and palladium, all of which are readily available in a variety of denominations held at our Delaware Depository.

Browse Our Coins to see a wide selection of IRA Eligible Coins & Bullion. Contact Us about opening a Gold IRA or home storage today!

How to Spot Fake Gold and Silver Coins (Warning Signs to Look For!)

Counterfeit products are nothing new in any corner of the modern market. A large percentage of the alleged precious metals in circulation are counterfeits. This is a sad reality, especially if you use gold and silver coins as an investment, for a special collection, or as a hobby.

These fake coins are created by con artists and dishonest dealers who are found all over the market waiting to take advantage of unsuspecting buyers. A survey carried out by the Anti-Counterfeiting Task Force in June 2018 rated the Morgan silver dollar as the leading counterfeited U.S. coin.

On the other hand, the U.S. gold and silver American Eagle coins lead the list in the bullion category. Fortunately, the gold sector has put several measures in place to protect gold buyers.

The biggest question facing gold and silver buyers is how can you identify the genuine coins from the fakes?

How to Spot Fake Gold and Silver Coins

Here are the six best ways to spot fake gold and silver coins on the market.

1. The Magnet Test

The process involves taking the gold or silver coin, inclining it at a 45-degree angle, and putting the magnet over it. The silver’s low conductivity should make the magnet slowly slide over the coin. As for a gold coin, the magnet should slide right off.

Both gold and silver are non-magnetic elements. This is a vital fact you should always keep in mind whenever you want to test the legitimacy of gold and silver. If you have supposed sterling silver that attracts a magnet, it is counterfeit. Generally speaking, if your gold or silver coin attracts a magnet, it’s not an authentic coin or piece.

However, a few metal elements are magnetic, including iron, cobalt, and nickel. Besides the ferritic metals, other magnetic metals found on the market include gadolinium, samarium, and neodymium. It is, thus, possible to encounter some metals that are similar to silver and nonmagnetic — zinc, pewter, and aluminum are perfect examples.

It might be confusing at this point if you think about pennies minted in 1943, which are magnetic despite being made from zinc. Zinc is a nonmagnetic metal, but it makes up only a tiny coating of the coins. The rest is composed of steel, a ferromagnetic metal, which explains why the coins are attracted to magnets.

2. The Ping Test

The ping test is another quick way of determining whether silver coins are real or fake. If you drop or strike a legitimate silver coin on a hard surface, it should produce a characteristically long ping sound. The millions of fake coins available on the market are characterized by a dull noise. Based on the sound you get after dropping or striking the coin, you should be able to determine its legitimizes. This test, however, doesn’t tell the levels of purity in the coin, but it is a quick way of weeding out the counterfeits.

Silver and gold coins produce a characteristically solid sound when you drop them on wood and other hard surfaces. In contrast, the fake coins make a deeply hollow thud and a dull noise compared to authentic gold or silver.

3. Visual Inspection

There’s a slight difference in color between genuine and fake gold coins. If you’re familiar with coin appearances, you can most likely identify lettering issues in the inscriptions, which may exist in the wrong font. Plus, the fine details on the design may also appear cruder upon comparison. The tool marks are another significant clue when you’re determining the authenticity of a gold coin.

In the process of trying to hide their imperfections, fake gold coins commonly leave behind a distinctive abrasion, besides altering the mintmark. This is a great way of telling the genuine Morgan dollars apart, thanks to the rare ”CC” mintmark designed by the Carson City mint. It would help if you were cautious about suspicious marks, most of which conspicuously exist next to the key design features of the rare coin.

As mentioned above, coins that are attracted to magnets are fake in most cases. However, it is not always true that coins that don’t stick to the magnet are genuine. After doing the magnet test, you should also include other measures of determining a coin’s legitimacy 一 examining it thoroughly, for instance, while comparing it to a genuine sample is essential. You should also invest in a jeweler’s loupe or magnifying glass, which can come in handy when you’re conducting the comparison.

4. Measuring Weight

The weight plays a crucial role in discovering fake gold coins from real ones. It’s common for gold coins to have different weights despite having the same gold content. The trick in such cases is knowing the standard weight of authentic gold. The standard weight of gold is as follows:

  • 24 karat gold coins (1 ounce) 一 for example, Canadian Gold Maple Leaf coins 一 weigh 31.1 grams.
  • 22 karat gold coins 一 for instance, South African Gold Krugerrands and American Gold Eagles 一 weigh 33.93 grams.
  • There’s also the Saint-Gaudens and $20 Liberty Head gold coins, both of which weigh 33.43 grams.

That said, it would be helpful to bring a reliable portable weighing scale on the purchase day. Many metal experts recommend the American Weigh digital scale, thanks to its unmatched reliability. It is affordable, around $10 at major retail stores, and suitable for both small- and large-scale buyers. As you focus on the weight as a measure of authenticity, consider that an accurate weight doesn’t necessarily guarantee it is 100% original.

Thanks to their standard dimensions, this tip is most suitable for government-minted bullion coins. You should visit the official mint website and familiarize yourself with the measurements before shopping. Whenever you come across an extremely thick or large gold coin, odds are it is a fake.

Most counterfeit gold coins tend to be larger and thicker, making them heavier than the original ones. Besides the weight scale, you should also bring a set of calipers to the store to measure the sizing dimensions.

5. Measuring Diameter and Thickness

As buyers become more and more cautious about fake metals on the market, con artists are also enhancing their skills at the game. Today, they pay close attention to the weight of these fake coins to ensure that they match that of the real ones.

Luckily, matching the diameter or thickness of the authentic coins remains a great challenge for these scammers. A caliper is, thus, an essential requirement whenever you go out shopping for gold coins. Tekton calipers are one of our best recommendations. You should check both the diameter and the thickness of the coins as it is almost impossible to match the weight, thickness, and diameter of real gold and silver coins.

6. The Acid Test

Aqua regia is a mixture of hydrochloric and nitric acid. This method involves scratching the coin on the stone. You can also fill a notch on the coin to kill any chances of accidentally rating plated products as pure. There are many acid kits available for gold and silver, but they do carry risks you should consider before following through.

Common Warning Signs of Fake Gold and Silver Coins

If you still have doubts about the product’s authenticity after the above tests, here are additional warning signs to be cognizant of before buying. Gold, for instance, is an expensive product, and you can’t risk your money when your instincts feel that something is wrong.

Despite the latest move to produce more convincing counterfeits, the market still has numerous distinctively fake coins. It would help if you look for errors in the designs, wrong inscriptional fonts, a soapy or flat appearance, and other missing fine details on the coins.

It’s easy to identify extremely flat or uneven relief as a feature of a fake coin — and it would be best to look out for impossible dates, such as the popular fake-dated 1906 American Silver Eagle, which wasn’t minted until 1986.

Other features to look out for regarding fake precious metals include non-uniform or nonexistent reeds on the edges, seams on the edges, or places where the sprue was filed off from the counterfeit cast. Thanks to federal law, every replica of an existing coin should have the word “copy” stamped on it. Older replica coins were minted with an “R” on them to indicate they were replicas. Most con artists try to hide this stamp, which should be a warning sign. Others include:

  • Dealers who rush you into buying
  • Prices that seem unreasonably low
  • Reluctance to provide photos, concrete details, and a thorough inspection of the coin
  • Lack of online ratings and reviews
  • Attempts to switch the product after you have checked it out
  • Unwillingness to meet and transact in an open place under closed-circuit TV surveillance

Ways to Avoid Being Scammed By Fake Gold & Silver Coins

The best way to stay safe from dishonest dealers is by buying from reputable and established coin dealers like Wall Street Metals IRA. All of our coin inventory has been verified and is housed at the Delaware Depository.

Another tip is to complete thorough research on the identified coin before buying it. Knowledge is power, and it significantly reduces your chances of being fooled while buying gold and silver coins.

If you’re wondering where to buy authentic gold and silver coins, Browse Our Coins at Wall Street Metals IRA and enjoy great deals on our trusted precious metals.

IRA Eligible Coins

Wall Street Metals IRA are experts in all things gold, silver, platinum, and palladium coins. We’ve got years of experience in the precious metals industry and have the connections to get you the best deals on your coins whether you’re investing or collecting.

But with great power comes great responsibility, and we get asked a bunch of questions on a regular basis by both our new and regular clients. One of the key queries we receive here at Wall Street Metals IRA is relating to IRAs, and which coins are eligible for an IRA purchase.

So, we thought it would be a good idea to write a blog about the subject so you’re fully in the know when it comes to IRA eligible coins.

Let’s jump in with IRA eligible coins from the Royal Canadian Mint.

The Gold Maple Leaf Coin

The 1oz Gold Maple Leaf Coin is one of the most popular coins from the Royal Canadian Mint. It’s the primary piece in the series and debuted in 1979 as the second-ever gold bullion coin in the world. It contains 1 Troy oz of .999 pure gold in BU condition and is one of the many IRA eligible coins available at Wall Street Metals IRA.

It also comes in a range of different options, with the ½ oz Canadian Gold Maple Leaf Coin also available to not only buy online, but coming in as one of our IRA eligible coins.

And of course, you can also purchase the ¼ oz Canadian Gold Maple Leaf with Wall Street Metals IRA, and this is also one of the many IRA eligible coins we have in stock online.

Gold Bars for Your IRA

Moving away from IRA eligible coins and we have the 1 oz Credit Suisse Gold Bar available to buy online from Wall Street Metals IRA.

Credit Suisse has a rich history in the precious metals industry and a world-famous reputation for quality. The 1 oz Credit Suisse Gold bar is true to form, and is available in brand-new condition with Wall Street Metals IRA.

It is a brilliant, significant initial investment in gold and features the Credit Suisse logo engraved at the top of the bar alongside its weight, metal content, and purity. Not to mention the assayers mark and individual serial number which are included on the face. Each purchase of this piece also comes with an assay card to validate your gold bar.

And crucially, this particular gold bar is also eligible for your IRA.

The American Gold Eagle

Another one of our IRA eligible coins is the 1 oz American Gold Eagle Coin, which you can buy online today at our website. It’s one of the most popular and sought-after coins in America thanks to its glorious design and reputation in the industry.

It’s the largest gold coin ever produced by the US mint and is comprised of 91.67% gold and 22 karats. It does however still contain 1 troy oz of pure gold content because the coin itself actually weighs 1.0909 troy ounces in total. The 1 oz American Gold Eagle Coin features Augustus Sant-Gaudens iconic Lady Liberty image with an observe design unique to these coins.

It’s also eligible for your IRA, alongside the ½ oz American Gold Eagle Coin and the ¼ oz American Gold Eagle Coin. All three of these magnificent coins are available in brilliant uncirculated condition with Wall Street Metals IRA, and each one of them is a fantastic addition to your investment portfolio or collection.

With them being IRA eligible coins, you can also reap the many tax benefits of buying precious metals through your IRA.

4-Coin Proof American Gold Eagle Set (Random year, Box + COA)

The American Gold Eagle coin is the official gold bullion of the United States, and one that’s been available since 1986. It’s struck annually by the US Mint, and the coins we have for sale in this series are available in bullion, proof, and burnished versions.

The 4 Coin Proof American Gold Eagle Set is sure to bring your portfolio or collection to life, and each box arrives in original US Mint box with a Certificate of Authenticity. It includes all four weights in the Proof American Gold Eagle Series, with designs featuring Lady Liberty from Augustus Saint-Gaudens and the family of bald eagles by Miley Busiek.

This is a truly unique and sought-after set and is available for you today with Wall Street Metals IRA. It’s also part of our offerings which are fully IRA eligible, so don’t miss out on this fantastic opportunity and get yours today.

Book an IRA Appointment With Our IRA Experts

We proudly offer you, our customers, precious metals and coins for your IRA, and have partnered with New Direction IRA, Equity Trust, GoldStar Trust, Strata Trust and more to provide the lowest and quickest IRA setup and maintenance. Setup takes three simple steps, and we even have the option of speaking to an IRA advisors to help you buy your coins and reap the tax benefits.

Book your IRA appointment today with Wall Street Metals IRA.

Download your free IRA brochure here, we also have a limited time opportunity to schedule in a call with our CEO. Avoid pitfalls and protect your wealth and future retirement. Get an inside look on how to invest in precious metals and have your questions answered.

Get in Touch With Wall Street Metals IRA Today

If you’d more information on the IRA eligible coins we provide or any queries relating to the other precious metals on our website, or to be honest, anything at all, then do not hesitate to get in touch with the experts at Wall Street Metals IRA.

Our reputation and buying power in the industry means that all of our coins are available as close to spot price as possible, and we even feature live spot checkers and historical data on all gold, silver, platinum, and palladium listed on our website. We also love speaking to customers.

Best of all? Wall Street Metals IRA guarantees to beat any quote provided by a competitor at our website, yes you read that right, we guarantee to beat any written quote from a competitor.

So what are you waiting for? To get in touch, you can contact us via email at info@wallstreetmetalsira.com or give us a call on (877) 399-7222.

Tax on Precious Metals Explained

Wall Street Metals IRA are experts in the precious metals industry. We’ve got thousands of happy clients over the years to prove it, and we offer the absolute best prices on gold, silver, platinum, and palladium available online.

We even offer to beat any written quote from a competitor, so we can say that we provide the best deal with absolute confidence.

And while there are profits to be made in the world of precious metals, there are also various tax implications you need to be aware of if you’re looking to invest. With this in mind, we’ve decided to put together this guide on everything you need to know about capital gains tax on precious metals, so you understand fully what you’re getting in to.

Capital Gains Tax on Precious Metals – The Basics

If you have holdings in gold to silver, platinum, or palladium, they are considered by the IRS to be collectibles. This means they have a cap of 28% when it comes to capital gains tax, which is in place to encourage long-term investment.

Of course, this does some with some caveats and rules.

For starters, it only applies once you actually sell your pieces. Capital gains tax on precious metals won’t be assessed until this happens, meaning that if you buy gold, for example, and it increases in value while you have it in a depository, the capital gain won’t be realized because it hasn’t been sold.

This means that the most vital element of working out how much capital gains tax you might be liable for is determining your cost basis, otherwise known as the original cost of the metals in question. You use the original cost you purchased your pieces for as a basis, and work out the capital gains tax based on the profit made when you sell.

Precious Metals as Inheritances and Gifts

While the above forms the basis of understanding when it comes to capital gains tax on precious metals, there are conditions that may be applicable to your personal situation that will influence how much capital gains tax you pay.

Lots of people receive gold or silver as part of an inheritance, for example, for which there is a different method used for calculating the original cost basis and therefore capital gains tax owed.

With inheritance, instead of working out the original cost basis of your coins from the date of purchase, you use the day the person passing them on to you passed away. This forms the basis of the amount you will owe once sold, and how much capital gain has been realized in the eyes of the IRS.

When it comes to tax on precious metals you receive as a gift, you might expect the cost basis to be calculated from the day you are presented with the precious metal, however, this is not the case. Instead, the market value of the original purchase date of the metals from the gift-giver is used.

At the end of the day, it’s as simple as understanding that if your precious metals are worth more than they were originally purchased for, you’re almost certainly going to have to pay a rate of 28% tax on the profits. Unless they were inherited, then it’s calculated from the death of the person who passed them down to you.

However, this isn’t always the case…

Short-Term, Mid-Term, and Long-Term Capital Gains Tax on Precious Metals

As we’ve mentioned, to encourage long-term investments, capital gains tax is capped at 28% for long term investments. This is the case if your tax bracket is between 33% and 39.6% and in a nutshell, even if your profits put you into a higher bracket, the tax on precious metals you will pay is capped at 28%.

But remember, qualifying for long term investment status means you have to hold on to your coins for a longer period of time (more than one year) between buying and selling.

When it comes to shorter time periods, short-term capital gains on precious metals apply. These are taxed at ordinary income rates, so if you’re within the 10-25% bracket, your gold, silver, platinum, and palladium assets will be taxed at the standard rate of tax, which is 10%, 15%, or 25%, depending on the total amount earned.

Capital Gains Tax on Precious Metals if You Lose Money

Precious metals are a stable investment that see increases in price over time as a general rule. But in the (very) unlikely event that you lose money when you sell your gold, silver, platinum, or palladium, then there is no capital gains tax to be paid.

That’s because you will actually have a capital loss on your hands, rather than capital gain.

While this isn’t exactly good news because you’ve lost out on money, you could actually use your capital loss to offset capital gains in that tax year, or even tax years down the line.

You can also offset this loss against your standard income, but there are a number of limitations and limits in place for this which you’d have to discuss with a tax professional.

Invest Today with Wall Street Metals IRA

If you’re looking to invest in gold, silver, platinum, and palladium, then there’s no better place to do so than with Wall Street Metals IRA. We provide answers to all questions you might have surrounding the best practices and nuggets of information, and have years of experience in the industry.

In these years we have accrued a sensational amount of knowledge as well as vital connections within the industry, enabling us to provide gold, silver, platinum, and palladium to our customers as close to spot price as possible.

And like we mentioned earlier, if you provide us with a written quote from a competitor, we guarantee to beat their price.

We provide a fantastic service bespoke to your requirements and pride ourselves on the high standard of customer service we provide to you. We also offer expert IRA advice, live spot price checkers and historical data on all pieces we stock, so you can make a truly informed decision on your investment.

For more information, give us a call on (877) 399-7222, or email info@wallstreetmetalsira.com and one of our friendly team will get back to you promptly to discuss your requirements.

Best Precious Metals To Invest In 2021

Best Precious Metals To Invest In 2022

In the world of investments, it can be tricky to know what’s worthy of your time and money and what isn’t. Do you go for something new and unpredictable like crypto, or something a little more tried and tested like energy, real estate, or precious metals?

Precious metals are a great investment for a few reasons, and in this blog, we’ll take a look at this reasons in detail. We’ll cover the difference between the various coins on the market, and which are the best precious metals to invest in 2022.

Let’s start with the difference between the forms of precious metals.

What’s the difference between bullion, proof, uncirculated, and circulating coins?

Coins are key to the precious metals industry. So, to fully understand precious metals, you must first understand the difference between bullion, proof, uncirculated, and circulating coins.

What Are Bullion Coins?

The term “bullion coins” covers precious metal coins that are intended solely for investment purposes. They are valued by the weight of the precious metal, which fluctuates based on its daily price, and they are not sold to the general public through the United States Mint.

Instead, these coins are sold through dealers located throughout the United States, dealers such as Wall Street Metals IRA. Other coins are sold directly by the United States Mint for collectors to boost their collections, and to others as gifts and keepsakes.

What About Proof Coins?

Proof coins are the finest quality of coin produced by the United States Mint. The term “proof” refers to the coin’s finish and blanks are specially treated, hand-polished, and cleaned to ensure high-quality strikes on each and every piece.

The blanks are fed into presses fitted with specially polished dies and struck at least twice, and the coins are then carefully packaged to showcase and preserve their exceptional finish. Proof coins are struck at least twice, giving them a frosted, sculpted foreground for a beautiful shine that is defined and intricate with a mirror-like background. They also come with an official Certificate of Authenticity and are encased in a protective capsule.

Circulating and Uncirculated Coins

Circulating coins are produced for circulations and used in everyday life. However, those sold directly by the United States Mint are never released to the Federal Reserve Bank.

Circulating coins are generally provided by the Mint in rolls, bags, or boxes, which do not include Certificates of Authenticity as they are commonplace and used as currency.

Next up are uncirculated coins which are hand-loaded into the coining press and struck on specially burnished blanks. They have a soft, matte-like finish appearance and are made like circulating which are used every day as money, only with an additional special process to produce a brilliant finish.

Like proof coins, uncirculated coins come with an official Certificate of Authenticity.

So, with these differences covered, let’s discuss the best precious metals to invest in 2022.

Best Precious Metals To Invest – Gold

Gold is a fantastic commodity for a number of reasons, mostly because it is the most popular of the precious metals for investment purposes. It is easily recognizable and therefore easily traded, it has high value, and it is virtually unaffected by changes in the stock market.

Gold has been used for years as an investment tool as well as for collections,  and is the absolute top dog in the precious metals investment industry. There are many beautifully designed gold coins that are a fantastic addition to your investment portfolio available with Wall Street Metals IRA which you can buy safely and securely online today.

Take a look at our gold collection and take advantage of our promise to beat any written quote from a competitor.

Best Precious Metals To Invest – Silver

Silver is next up in terms of popularity and ease of trade when it comes to precious metals, which has been the case for as long as gold and silver have existed.

Another easy to identify set of coins, silver has a long reputation as second in command to gold in terms of price and popularity. It has similar benefits to gold in that it is rarely affected by the stock market and other unpredictable elements of investing in general, which makes it a brilliant investment opportunity and one of the most profitable tangible assets you can invest in today.

At Wall Street Metals IRA, we provide a range of silver coins available to buy today. Take a look at our silver collection and buy online with confidence.

Best Precious Metals To Invest – Platinum and Palladium

And finally, platinum and palladium. These are relative newcomers in the precious metals industry and are finding their footing in terms of popularity. They are much rarer than gold and silver which means that while they aren’t as easily recognized, they have more value attached to them as a result.

They’re also absolutely stunning and are a worthwhile addition to any collection or investment portfolio on this basis alone. However, money and value is always a welcomed addition!

Platinum products are available at Wall Street Metals IRA to buy today, as are palladium coins.

Get in Touch and Invest in Precious Metals Today

If you’re interested in buying or investing in any precious metals today, be it gold, silver, platinum, or palladium, then don’t hesitate to get in touch with Wall Street Metals IRA.

We’re experts in the industry and have years of experience. We’re very passionate about the coins and precious metals we provide online, and we pass our highly coveted knowledge on to our customers. Our coins are available as close to spot price as you’re likely to find them anywhere and we even feature live spot checkers and historical data on all gold, silver, platinum, and palladium listed with ourselves.

Our customer service is second to none and we love helping our customers. We even guarantee to beat any quote provided by a competitor at our website, so take a look today.

And if you have any questions relating to any of the precious metals that we have listed for sale at Wall Street Metals IRA, please get in touch with us. To do so, you can contact us via email at info@wallstreetmetalsira.com or give us a call (877) 399-7222.