Besides buying and selling foreign currency with the FOREX, let’s look at the value of some of the old United States coins. This scary economy has everyone searching for ways to wisely invest and simply how to make some quick money. Profits can be made from trading in the FOREX market, and is a great investment vehicle for some. But, let’s talk about teaching kids to be aware of ways they can think about saving for their future. Start them looking at the change they have as something more than a way to buy a new toy, or a new computer game.
Silver coin collecting is a great way to teach your child the value of old US money and saving. The melt value, for example of silver is $13.97 an ounce. However, a single silver quarter, in mint condition, made in 1954 is worth up to $30. If it’s possible to get a child to think about saving for the future instead of spending, it will be a great lesson learned, and perhaps the beginning of a new hobby that will build a nest egg for his/her college education. When they’re older, they’ll look at investing in the FOREX market or the stock market.
From 1932 to 1964, Washington quarters were made of mostly silver; .90% silver and 10% copper. It has Washington’s picture on the front and on the reverse is a picture of an eagle with outstretched wings. The quarter was named so because it was .25th of the value of a Spanish piece of eight coin.
What about the coin collection Grandma gave you? She probably doesn’t even realize what that jar of change she’s been saving is really worth. Sit down with her and look carefully at all the coins. Silver half dollars, silver quarters and silver dimes are valuable today when in good condition. There are websites that give you the values of the coins by year minted.
Silver and Gold Jewelry
More and more people are looking into their jewelry boxes and finding sterling silver that they no longer wear and considering selling it. And, the price of gold is higher now than it was in 1981 when it was roughly $895 an ounce. In today’s market gold is worth nearly $1,000 an ounce and shows signs of being $1100 an ounce before the end of the year. Some are even predicting it will rise to $2000 an ounce.
Sure, collecting old silver US coins or selling valuable jewelry is about as basic as you can get as a way to raise some cash, but in this economy, not everyone has a large amount to invest in the stock market or to trade in the Foreign Exchange Market. It’s not a bad idea to give these people an option they may not have thought of for making a few extra dollars. This is just a thought, but worth mentioning.
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