You may have heard many people rave about the advantages of collecting gold coins. After all, these coins are great investments, and if you wait until the perfect time, you can hit the market at the right time and sell them for more than you paid for them. However, not all gold coins are the same, and there are some that you should avoid buying in Weslaco, TX.
Have you ever woken up in the middle of the night to find you left on the TV? There is a commercial where an enthusiastic person promotes gold quarters. They’re such a great investment, they say, and you must buy them now. Tuck them away for a few years, and they’ll be worth more than their weight in gold!
In most cases, seen on TV items are never as good as the infomercial makes them seem. This also goes for gold quarters. Below, we’ll discuss what a gold quarter is, gold vs. gold-plated, if they’re legal, what they’re worth, and if gold quarters are a good investment. Before you grab your phone and call after seeing an infomercial on your Weslaco, TX television, consider if this is a worthwhile investment.
What Is a Gold Quarter?
Before 1933, gold coins played a major role in how Americans spent money. No matter where you were in Hidalgo County, you could use a gold coin to purchase something. However, paper money took precedence during the Great Depression, and gold coins turned into an investment opportunity rather than a normal way of spending money.
You may not think that a quarter is special, as it’s only worth 25 cents, but that changes when the word “gold” is in front of it. After all, gold is highly valuable and sought after by many collectors and investors. Although the gold market fluctuates, you can find the right time to make a hefty profit off your collection of gold coins.
However, the issue with many gold quarters is that they are not pure gold. Some coins do contain pure gold. While the Mint makes most gold coins with 22-karat gold, the double eagle coin contains 24-karat gold. The amount of gold in these coins makes them worth more than their face value. The less gold in a coin, the closer their worth lies to their face value. That’s the issue many people find when they try to sell their collection of gold quarters that they have stashed away, hoping to make a fortune off them. If they aren’t pure gold, you won’t get much money for them. How can the quarters contain gold if they aren’t pure gold? They’re gold-plated.
Gold vs. Gold Plated Quarters
While a gold quarter and a gold-plated quarter may sound the same when you’re buying gold in Weslaco, TX, there is a big distinction that you must keep in mind. You can make a pure gold coin by pouring liquid gold into a mold, thus casting the coin. This makes the whole coin gold.
On the other hand, gold plating is nothing more than dipping a quarter in gold. While the creators of the coins dip the gold-plated quarters in 24-karat gold, there isn’t enough pure gold in these to make them valuable.
What Are They Worth?
So, if these gold quarters aren’t pure gold, what are they worth? Are they still worth the fortune you believed? Unfortunately, most gold dealers won’t want anything to do with your gold quarters. You can bring them to many gold dealers in Hidalgo County, and you will be lucky to find anyone who will buy them for more than their face value—which, for a gold-plated quarter, is 25 cents.
You may find someone willing to pay a little more than face value for your coins, but in many cases, you lost money by purchasing gold quarters if you wanted to invest in them.
Are They Legal?
It’s frustrating to know that many people have lost money by purchasing these plated gold coins in Weslaco, TX, and it’s worse to know that the people who sold them got away with it. Unfortunately, selling gold quarters is legal because many people don’t sell them with the intent to counterfeit or act fraudulently.
Often, infomercials won’t tell you that gold quarters are worth anything more than regular quarters: but they usually won’t explain that. When you see something shiny gold, and you hear the word “gold quarter,” you may believe that it’s something rare. Plus, many infomercials use the, “Buy now, or you’ll miss out” tactic. When people use this to sell gold quarters, it can sound like you will miss out on money if you choose not to invest in these gold coins. While this misinformation is annoying when you’re trying to sell your gold quarters and can’t find anyone to purchase them, it’s not illegal.
Are Gold Quarters a Good Investment?
So, now that you know about fraudulent gold quarters, are they a good investment? While many pure gold coins in Hidalgo County make a great investment, gold-plated quarters do not.
However, there are gold quarters that are pure gold and are worth the investment in most cases. For example, the 2016 Standing Liberty Centennial Gold Coin has a face value of 25 cents, like a normal quarter. However, the 24-karat gold coin goes for a lot more than its face value.
When you’re looking at purchasing gold quarters, you must do your research. Is the quarter real gold, or is it gold-plated? Can you trust the person who is selling it? Is it a legit gold dealer selling the coin, or did you see it in the middle of the night on the TV? Make sure you know what you’re buying and the possible investment before you make the purchase.
To learn more about purchasing and investing in gold, call Professional Coin Galleries at 888-706-3237 today. We can help you ensure you make the best decisions about your investments.