Gyroscopic Investing

hi guys,

so i made my first purchase.  Obviously i would like to play with my first coin a little.  Coin collecting suppose to be fun

Whats the right way to touch the gold?  do i need to use cotton gloves as the dealer suggested (where do i get cotton gloves anyways) or can i use latex gloves?

the dealer also says not to even try to clean it?

you guys have any tips...

thanks

sk55 wrote: hi guys,

so i made my first purchase.  Obviously i would like to play with my first coin a little.  Coin collecting suppose to be fun

Whats the right way to touch the gold?  do i need to use cotton gloves as the dealer suggested (where do i get cotton gloves anyways) or can i use latex gloves?

the dealer also says not to even try to clean it?

you guys have any tips...

thanks

No need for gloves as long as are not talking about some Roman era coin. If you have more than one I suggest wrapping them in a piece of tissue to prevent accidental scratching and store them in a safe deposit box. You can also buy tubes or boxes for convenient storage once you get enough coins.

That's true about not trying to clean it.
At least all the dealers I know advise me not to clean coins.

If it is just a bullion coin I wouldn't worry too much about handling, especially if it has already been "handled" (it will show small scuffs, nicks, etc.).  Holding the coin by the edges is probably a good habit to get into.

Krugerrands, American Eagles, etc. are alloyed with other metals and are more resistant to damage from handling.  Canadian Maple Leafs are pure (24 karat) gold and a bit softer.  I have seen buy ads for Maple Leafs that discount damaged coins.

There are numerous ways to store coins (tubes, flips, cardboard/mylar holders, etc.).  Just avoid holders with PVC as some plastic components can leach onto the surface of the coin.

And it is supposed to be fun!

do the typical plastic sleeves that coin dealers use leach over time?

As I recall the problems stemmed from the plasticizers in the PVC (vinyl) material.  The soft stuff.  It is probably a reasonable precaution to assume anything you get in plastic flips (the folding two-compartment holders) is suspect and to replace it with known "safe" materials (they are usually advertised as PVC free, etc.).

There are many more storage options if you are not concerned as much with the coin's condition (from a numismatic standpoint).  The cardboard folding holders with mylar lining are presumably safe (these are the kind you staple), and there are 2x2 archival paper envelopes that are presumably safe as well.

If you are paranoid like me and want to maintain numistic value also...

Handling: I use a pair of clean cotton winter gloves that I never wear. Main thing is to try and avoid contact with chemicals and oil from your skin.

Protection: I am a big fan of the products sold by Air-Tite.  I use their direct fit holders that cost 55 cents and are made of an inert acrylic (PVC can react with with bullion coins).

http://www.air-tites.com/

Storage: Something air tight with a silica gel desiccant

Bean wrote: PVC can react with with bullion coins...
Storage: Something air tight with a silica gel desiccant

I thought that gold was very inert, so why worry about PVC, air, oils or salts? Scratches on a numismatic coin are a different issue. Wouldn't gold hold up well even in a chest at the bottom of the ocean (an extremely corrosive environment)? That's where I keep mine.

BearBones wrote:I thought that gold was very inert, so why worry about PVC, air, oils or salts? Scratches on a numismatic coin are a different issue. Wouldn't gold hold up well even in a chest at the bottom of the ocean (an extremely corrosive environment)? That's where I keep mine.

Gold is.  But that doesn't mean that you should use a Krugerrand for Chuck-Farthing.

Scratches, fingerprints, etc. all make a coin look less desirable than one without such damage.  As I mentioned above, some buy ads for gold Canadian Maple Leaf coins discount the offer if the coin is damaged.  If you have a choice between buying two identical (year, gold content, etc.) coins, a beat-up one and a pristine one, which would you pick?

Also, the PVC stuff may "migrate" as well, so a contaminated coin lying next to an uncontaminated coin may transfer the bad stuff.

Finally, careful coin handling is just a good habit to get into.  Someday, your 2012 gold American Eagle might have numismatic value to your great-great-great-great grandchildren.

A couple of my new krugs are dirty. (I was a little hasty about pocketing them at the shop because a young guy was showing his friends around, and I prefer an empty store). Although the dealer has offered to let me exchange them for shinier ones, I'm going to try his suggestion of cleaning them with nail polish remover (acetone). His main admonition: no soap. Too abrasive.

In general, I don't clean coins at all, and I try not to handle them too often. When I do, though, I have to touch them with my bare hands.

Bean wrote: ...
Protection: I am a big fan of the products sold by Air-Tite.  I use their direct fit holders that cost 55 cents and are made of an inert acrylic (PVC can react with with bullion coins).
http://www.air-tites.com/
...

Looks good! EDIT: Neither the ring-type nor the direct fit individual coin holder pages mention krugs, though. It would be nice to have the individual holders in their 20-coin tubes. EDIT: Oh, just saw their coin size chart page.

Bean wrote: Protection: I am a big fan of the products sold by Air-Tite.  I use their direct fit holders that cost 55 cents and are made of an inert acrylic (PVC can react with with bullion coins).

Are those little plastic bags with a flap that coins come in typically PVC?  How to tell what you got?

Coupon code TDV5WC, good for 5% off for first time customers, will help to offset the ridiculous minimum shipping costs.

MachineGhost wrote:

Bean wrote: Protection: I am a big fan of the products sold by Air-Tite.  I use their direct fit holders that cost 55 cents and are made of an inert acrylic (PVC can react with with bullion coins).

Are those little plastic bags with a flap that coins come in typically PVC?  How to tell what you got?

I typical order direct from Air-Tite, to avoid knock offs.

Borrowing Air-Tite's description:

Air-Tite Direct Fit Coin Holders are made of Acrylic with a non-yellowing agent, and contain no PVC to damage your coins. These coin capsules are hard, crystal clear, and consist of two pieces that snap together providing superior long-term protection for your entire coin collection.

Didn't realize PVC could leach into gold coins!

I wrapped mine in bits of glad wrap to prevent nicking, and stored in the coin tube sent by Colorado Gold.  Fortunately, major food plastic wrap brands are supposedly PVC free...but is this ok?

sophie wrote: Didn't realize PVC could leach into gold coins!

I wrapped mine in bits of glad wrap to prevent nicking, and stored in the coin tube sent by Colorado Gold.  Fortunately, major food plastic wrap brands are supposedly PVC free...but is this ok?

The is gold inert, so the gold will still be gold no matter what you do.  The main thing as I understand it is PVC over time will give an acidic gas that will damage the surface.  It all comes down to if you want ensure the numismatic value premium.  Outside of this, your melt value will always be worth spot.