Gold, silver remain popular among buyers
Coins have always been a good investment,
and these days people are buying them up for not just their value, but
for their metal content, according to Mike Mouret with Nashville Coin
and Currency in Brentwood.
“Even though the prices of gold and silver
are relatively high right now, the most popular items are those that
sell for close to just their metal content,” he said. “‘Bullion’ items
are ones that people buy for their intrinsic metal value only.”
He said that in the U.S., most collectors prefer U.S. coins. However, on the world scene, coins from other nations are popular.
their expanding population and collector base, coins and sets from
China are in high demand,” he said. “Gold is high and silver is up
there, as well.”
He said that even though the stock market is reaching all-time highs, that doesn’t usually affect the price of gold and silver.
people buy gold and silver to diversify their stock and bond
portfolios,” he said. “In the past few years, though, we have seen both
the stock market and gold markets rise together as large funds find
themselves holding cash and looking to place it somewhere seeking a good
Gold and silver are the oldest forms of money, sot hey continue to be popular among those who collect and those who don’t.
has a nearly three-thousand year track record of being valuable,” he
said. “Coin and currency collecting represents history and many people
relate to that. Nowadays, many people buy gold and silver even though
they are not collectors in the traditional sense. They buy gold and
silver to hedge against calamity and uncertainty in today’s world.”
He said over the past five years, they have purchased more than they have sold locally.
ever since the Presidential election in November, we have seen a huge
rise in the number of people buying gold and silver as precious metals,”
he said. “People are buying today to defend their wealth against a
government that appears to have gone wild printing paper dollars.
more paper dollars are printed, it makes the existing paper dollars
worth less and less in purchasing power. Gold is not really any rarer
than it was four years ago, but our dollars have dropped in value,
therefore taking more of those weak doll ars to buy that same ounce of
He said many people buy gold and silver, expecting the value to rise in the future.
primary reason that they purchase gold and silver is for ‘wealth
insurance,” he said. “They are more looking to preserve their existing
wealth and asset value, than they are looking for a quick profit. Many
people who buy precious metals today, do not plan to sell if the market
goes up. It is a buy and hold mentality to maintain the purchasing power
of their money.”
Some of the more popular items to sell are
“broken or unwanted gold, silver and platinum jewelry, sets of sterling
silver flatware and tableware, and items or collections of coins that
they have inherited from love ones who were collectors.”
Nowadays, people are not entertaining like they used to and, therefore, are selling their formal silver pieces, he noted.
flatware is high maintenance to keep it looking beautiful, and many
people are choosing to forgo that effort of storing, polishing, storing
He said although the name of the store is Nashville Coin and Currency, they do buy and sell more.
think of us for all rare and collectible coins and paper currency since
that is our specialty, but we are also very strong buyers of old gold
and silver jewelry since we are an end-user of the actual metals,” he
“We buy sterling silver flatware by pattern and not just by
weight to melt. And we also buy civil war era maps and documents,
relics, antique bottles and the like. We have purchased politcal and
music celebrity memorabilia, presidential autographs, antique weapons,
and even an occasional meteorite or two. It’s a really fun business to
be in, and I’ve been blessed to make a living at it for 30 years now.”
added that there is a need for consumer protection against the
“potential for misrepresentation in our industry. Since the prices of
gold and silver have risen so dramatically over the past few years, many
new ‘we buy gold’ places have sprung up, and there is no regulation of
pricing in our industry.
“When selling precious metals, it is
important to compare prices of what you will receive for your items.
Some buyers may offer 40 percent to 60 percent of what the market value
is, so consumers should clearly understand what they have, and what it
is worth. Clearly detailed, written estimates should be obtained from
the prospective buyer so you can compare apples-to-apples pricing, and
make an informed decision from there.”
Nashville Coin and
Currency is located at 7003 Chadwick Drive, Ste. 154 in Brentwood. For
more information, call (615) 377-4949 or visit www.nashvillecoin.com.
By Angie Mayes/Staff writer