Gold and silver being used as currency can be traced back hundreds or even thousands of years. There is a reason that these two metals were viewed as having a value above all others in almost every time in our history and around the world. Our currency was originally backed by gold and silver, so that for every dollar or coin made, there was physical gold and silver to back it up. If you look at an old $1 silver certificate, you will see that is says “Payable in silver coin to Bearer on demand.” This means when our currency was backed by these precious metals, you could walk into a bank and get a dollar’s worth of silver for that $1 note!
Then, in 1971 we as a nation went off the gold standard. Since that time, gold and silver has fluctuated up and down, with the trend mostly up to the all time highs we see today. As gold and silver rose, so did the value of gold and silver coins.
This is where our knowledge and experience at the Doylestown Gold Exchange can help you.The United States at one time confiscated gold from the citizens and stopped producing gold coins. In 1986 the government resumed making gold coins and since that time more and more people have bought gold and silver as a way to preserve their wealth. Old American currency made in 1964 and before is made of 90% silver.That means that 4 quarters, 10 dimes, or 2 half dollars are actually 71.5 % of an ounce of silver and because of this, every dollar of these silver coins is valued at more than $20.
If you are interested in either buying or selling gold and silver coins please come and visit us so we can appraise your item and answer questions. We also buy coin collections and will be happy to appraise them so you know exactly what you have. We can come to your home or do private in-store appointments. With over 20 years of experience in buying and selling of precious metals you will walk away knowing that we treated you right! Please visit or call us soon.