Market News

  1. Gold Vs. Bitcoin

    For most people, the most evident difference between gold and bitcoin is that gold is physical whereas bitcoin is digital. Yet, the differences between both run much deeper.  Gold is a precious metal which is utilised as a medium for exchange. It’s also used in manufacturing, technology and jewellery and even for keepsakes. Gold is tangible and is regarded as a long-term investment alternative. Bitcoin, on the other hand, is a crowd-sourced, coded currency which didn’t exist until 2009.

    What is Bitcoin?

    It’s the world’s very first decentralised digital currency. The new system for virtual money was proposed by a software developer named Satoshi Nakamoto in 2008. It was made available for public use in 2009. This system enables members of the bitcoin community to be able to mine new bitcoins using open-source software and solving extremely complex mathematical equations. The complete supply that may ever be mined is limited to 21 billion. Bitcoins are represented by the record of transactions between different addresses. These addresses consist of sequences of numbers and letters generated randomly. Users can purchase bitcoins by using a different sequence in the form of a personal key which is kept secret. The miners verify all transactions.

    Risks and benefits of bitcoin currency

    • Bitcoin offers its users with an elite trading experience. Unlike the British Pound or the American Dollar, bitcoin is frequently referred to as cryptocurrency. It isn’t regulated by any central bank. This means, in theory, the virtual currency is democratized, decentralized and can be accepted anywhere in the world. This also means that bitcoins are unregulated. This opens the door to corruption.
    • Bitcoins don’t carry any information which can be used for personal identification, such as a physical address or names. It’s potential for anonymous transactions made it attractive on the black market.
    • Bitcoin is crowdsourced. This means that its value is completely dependent on the participation of the community. In its initial years, it benefited from a particularly enthusiastic base of investors and developers.

    Investing in Bitcoin vs. Tangible Gold

    Considering both bitcoin and gold’s value, the first aspect to be considered is the stability. While several believe bitcoin presents the capability for a better currency, conventional investors rely on gold’s track record and historic value. Bitcoins are pretty much still in their youth and still have many years to go before investors see a reliable profile. Gold is a physical currency which is accepted all over the world and has been for hundreds of years. But, gold is limited and there’s only so much that can be located, mined and refined. These factors make it an extraordinary commodity and therefore give it its value. Gold has been the practical choice signifying money due to its rarity, durability and simplicity of divisibility.

    Both the innovation and success of bitcoin as a virtual payment system must be admired. There are still many issues which need to be addressed in terms of sustainability and security before customers are encouraged to accept or use it. It’s also believed that bitcoin may eventually become a viable investment option but it will never surpass the versatility and stability provided consistently by gold. 

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  2. The 4 Best Gold Coins for Investment

    You could be looking to collect coins or protect your income against inflation or account bullion into the Precious Metals IRA. Whatever be the reason, gold bullion is a great choice to make an investment in. Investing in gold can help secure your future. It offers investors liquidity, lucidity and a real potential for long-term returns. However, to truly benefit from your investment, you must purchase gold at the best price and should be able to sell it easily. Here is a list of the best gold coins to make investments in.

    1. The American Eagle

    It’s perhaps the most anticipated coin every year. This series has established itself as a representation of the Nation’s ideals of equality, freedom and patriotism. Its bald eagle and Lady Liberty make it a vital keepsake for investors and collectors.  Even though its purity is merely .9167, the 1 oz. coin is the exception as it’s permitted to be incorporated in the Precious Metals IRA. The US mint offers the coins in monster boxes and rolls. This makes it an exceptional option for making big investments. The proof coins and BU are complete to be purchased in an original mint packaging and in certified boxed from PCGS and NGC

            2. The American Buffalo

    2017 brought the newest issue of the first .9999 purity coins in the US. The American Buffalo Gold Coin has been launched by the US Mint. It easily competes with pure foreign coins like the Gold Britannia and the Canadian Gold Maple Leaf. Nonetheless, it became admired because it’s a call back to the famous Buffalo Nickel in 1913. On its front side, it features the visual rendering of a Native American. On the reverse side is an American Buffalo which is inspired by the Black Diamond Bison which, during 1910, lived in the Central Park Zoo. Its much-loved design and high fineness make it a precious addition for any collector or investor.

            3. The Canadian Maple Leaf

    RCM’s adored Canadian Maple Leaf is an iconic coin available on the market and is among the best for investments. Its well-known maple leaf design is famous all over the world and a sign of Canadian heritage. Also, its .9999 purity makes it a great option for IRA savings and a must-have for numismatists. It’s famous for its exclusive security enhancements. Owing to its innovative and high-tech security characteristics, this coin is practically impossible to forge. This is one of the main reasons many investors choose it over the other options. RCM also presents this coin in monster boxes and in rolls.

            4.   The British Britannia

    It’s a famous bullion coin. This impressive piece celebrated its 30th anniversary in 2017. The Royal Mint released it in the year 1987. The Mint issued a unique privy mark Gold Britannia to honour this event. On the reverse side, the figure of Britannia, the embodiment of the British Isles (ever since the 1st Century) is visible. The proud Britannia is a representation of national spirit, strength and power. Its .9999 fineness makes it qualified to be included in the Precious Metals IRA.

    Bullion exchanges are the best place to purchase gold coins online and also in store. Choose the best bullion gold coin and protect your wealth against potential financial turmoil. 

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  3. Investing in Gold Coins or Gold Bars: Which is a Better Choice?

    Gold is a stable, smart and lucrative investment option when it comes to protecting you from currency depreciation and other financial crises. If you’ve decided to invest in precious metals to add to your portfolio, you should take some time to consider whether to invest in gold coins or gold bars.  Whether you’re new to investing or not, it’s recommended that you make an informed decision depending on your individual needs and purpose of your investment.

    In this blog post, we’ll cover the pros and cons of both gold coins and gold bars and explore the most suitable investment option for your portfolio.

    Gold Coins as an Investment

    One of the major advantages of gold bullion coins is that they’re produced and recognized by the issuing government’s mint. The coins come with face value, year of issue, weight, and purity stamped on them. Unlike gold bars, bullion coins with their unique designs can become costlier per ounce and are inherently collective.

    Here are the pros and cons of gold coins as an investment.

    • Pros

     

    -          They offer a wide and diverse range of options to choose from in terms of design, size, weight, and valuation, unlike gold bars.

     

    -          Since they’re considered a legal tender and available at lower value denominations, bullion coins offer easier liquidity.

    -          With their small size and shape, they can be easily stored in single or multiple safe locations. When stored at home, they’re also less obvious than gold bars.

     

    -          Some gold coins are limited mintage, rare or collectables which possibly make a return on investment exceed the gains from the appreciation of the base metal over time.

     

    • Cons

     

    -          When buying gold coins, you’re charged with a premium that increases their cost above the actual gold spot price. Premiums are the additional cost attributed to manufacturing, packaging, handling, insurance and delivery costs.

     

    -          Not all coins are 24-carat. Some coins are 22 carats or even lower and when it comes to dealing with fractional purities, this makes it difficult to value your new coins.

     

    -          You need to verify the legitimacy of the supplier and the mint before investing in gold coins that don’t come with a certification.

     

    Gold Bars as an Investment

    They’re significantly larger in size and shaped in a rectangular slab. Produced by private mints, gold bars are available in many denominations and sizes. Here are the pros and cons of gold bars as an investment.

    • Pros

     

    -          Gold bars offer minimum premiums over the actual market price of gold.

    -          Most gold bars are 24-carat, which means they’re 0.9999% pure gold.

    -          Being certified, they enable new investors to quickly build a balanced portfolio.

     

    • Cons

     

    -          Owning a large chunk of a single community can put you in higher market risk. Although they offer the best value when purchasing, the resell value isn’t the best depending on the spot gold price.

     

    -          Since gold bars aren’t considered a legal tender, it’s harder to liquidate large gold bars.

    Adding gold to your investment portfolio is an excellent move and now that you know the pros and cons of both, you can decide better. Larger gold bars are ideal for you if want to invest a large amount of money and plan to keep your gold for a long time without selling it. On the other hand, if you’re planning to invest in gold for releasing part of it for cash during financial crises, gold coins make a better choice as they offer greater flexibility at resale.

     

    Depending on your personal preference and taking into account all these considerations, invest in bullions that offer the best intrinsic value of gold for your budget.

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  4. What’s the Difference between Cast and Minted Gold Bars?

    Since its discovery thousands of years ago, the processes of refining gold and minting gold bars have improved and evolved numerous times. This has given the average investor many different options of gold bars in terms of types, sizes and brands.

    Depending on the manufacturing process, gold bars are mainly classified into two types – Gold Cast Bars and Minted Gold Bars. In this blog post, we’ll discuss these two types of gold bars and their differences.

    Gold Cast Bars

    They’re also known as ‘poured’ or ‘molded’ bars and are known for their traditional manufacturing process. A mold is created first to ensure that the gold bars are formed of proper sizes, shapes, and weights. The gold is then heated to a very high temperature till it becomes liquid and is poured into the mold. Gold solidifies quickly and when it cools, it’s taken out from the mold.

    Cast bars are natural looking than the other types of manufactured gold bars. It comes with only a simple engraving of the details of the gold bar and its manufacturer. The engraving is done within a few hours of taking the gold from the mold.

    These bars are available in different weights such as 1 ounce, 2 ½ ounce, 5 ounces, 10 ounces, 20 ounces and 50 ounces.  

    Minted Gold Bars

    Minted gold bars are very popular with investors. They’re the most commonly known gold bar type with a brilliant shine and perfectly clean finish. The manufacturing process of minted gold bars is both time-consuming and expensive than gold cast bars.

    During the early phases of manufacturing minted gold bars, they were traditionally processed like cast bars through a compression machine to have a more uniform shape and size. Although this process is still in use, a continuous casting machine is used these days to make minted gold bars. The weight and size of each of these bars are inspected carefully and all imperfect bars are put into a large furnace to soften them and strike them back to perfection.

    Cast Bars Vs Minted Bars

    Apart from differences in their manufacturing processes, gold cast bars and minted gold bars also have different advantages and disadvantages.

    • Appearance: The casting process, though simple, creates unique irregularities, ruggedness, and blemishes on individual cast bars. They’re also a little rough at the edges. No two bars are the same. Minted gold bars, on the other hand, are cut down from a long strip of processed gold metal which eliminates the chances of any marks or blemishes.

     

    • Pricing: As the casting process is cheaper than the other manufacturing processes, gold cast bars are available at a lower price. They’re ideal for investors looking to pay the lowest premium over spot gold prices. Minted gold bars are mostly available at a higher premium because of their complex and expensive manufacturing process.

     

    • Packaging: Minted gold bars are securely packaged and often a significant portion of their value depends on the packaging. Opening the packaging may devalue these bars, unlike cast bars which you can touch with your hands. For this reason, investors and collectors often consider it as a drawback of minted bars.

     

    • Selling Gold: If you want to sell your gold for cash, minted bars are easier to resell than cast bars. This is because of their perfection in size, shape and design over gold cast bars.

     

    Each type of these gold bars is used for a different purpose. Gold cast bars, although very popular among collectors and investors for their traditional nature, are usually known to have the least return on investment. Minted bars are expensive to buy but they have better resell value. You should make your gold bar investment decision based on how you intend to use them.

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  5. Gold Silver News

    Market Commentary   Gold was static, opening the day at 1325.00/1326.00. After the open, the metal rose to a high of 1327.00/1328.00 on dollar weakness following weaker-than-expected U.S. retail sales data. Shortly thereafter, the dollar recovered and gold retreated on selling interest to a low of 1319.25/1320.25 as U.S. equities (S&P) edged to a new record high. Platinum prices fell to a 1-month low while palladium prices were steady as gold firmed up to eventually close the day at 1321.50/1322.50.   Silver was virtually unchanged, opening the session at 17.69/17.74. It touched a high of 17.82/17.87 before declining to a 2-week low of 17.58/17.63. Thereafter, silver improved to conclude the session at 17.61/17.66.     Technical Commentary   Gold closed lower today, at 1322. Support is firm at 1321.60 - the 23.6% Fibo retracement level of the July-September rally. Resistance is at 1357.80 - the recent high. MACD is bearish and momentum has declined; however, I remain bullish as long as gold closes above the 23.6% Fibo level.   Silver closed lower today, at 17.64. Support is unchanged at 17.51 - the 23.6% Fibo retracement level of the July Low - September High range. Resistance is at the $18 level, followed by 18.23 (recent high). MACD has turned marginally bearish and momentum has fallen sharply. I remain bullish on silver as long as it closes above the 23.6% Fibo level.   The gold-silver ratio closed higher today, at 74.94. Resistance is at 77.31 - the previous month’s high, with near term resistance at 75.11 - the 100 day MA. Support is at 73.07 - the 38.2% Fibo retracement level of the 1-year rally from July 2016 to July 2017.  
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  6. How to Get the Best Value When Selling Your Gold

    We all know that gold is valuable, but we often sell them to the wrong buyers. Selling gold for profit can be lucrative, but it requires quite a bit of background knowledge about the market and your items.

    If you have gold that you no longer want, it can be sold off and turned into cash. Here are some tips to help you make the most of your decision to sell your gold.

    1.       Identify the Karats

    Regardless if you have gold bars, coins or jewellery, you’ll find the karat stamp printed somewhere on the item’s surface. It can be seen with the help of a magnifying glass. Typically, jewellery contains around 10, 12, 14, 18, 22 or 24 karats of gold. Any piece with an 18 karat stamp contains 18 parts gold and 6 parts of a different metal. Higher karats mean a higher value for the gold.

    2.       Ask for exact weight of your gold and gold items

    Any reputable jeweller will always weigh the gold before paying for it. The final price is determined by both weight and karats present in the piece. The amount is decided by grams and not by pennyweight. Always note down the exact weight for each piece of jewellery.

    3.       Check for current prices

    The current gold prices can be checked online. These are up to date with the current market value and can be trusted. Also consult local jewellery shops and newspapers. Just remember that the price of gold is always changing and the price of gold in your area may be different from the price in a different area.

    4.       Look for competitive prices

    When you want to sell your gold, get prices from several jewellers, pawn shops and other buyers. A free estimate of your valuables can also be requested. This allows you to receive the best price for your piece. Also, it’ll serve you well to be patient. The price you’ll receive will include the expense of turning the gold into bullion and the dealer’s own profit.

    5.        Find gold buyers

    You might receive a fair price from jewellers hoping to establish a good relationship with you. Just be careful with pawn shops as your relationship with them is more likely to be one-and-done, so they take advantage of you. They might convince you to make a hasty decision. Always remember to be patient, careful and well-informed.

    Knowing how to sell your gold is easier than you might imagine. The internet can be utilised to look for jewellers near you. Word of mouth might be slow, but it’s efficient and time-tested. Certain jewellers offer free estimates for your gold piece and can be referred. 

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  7. 5 Things You Must Know Before Investing in Bullions

    Bullion is an almost pure mass of silver, gold or platinum. It can be shaped into the form of bars and coins. It was used to be considered an investment option for wealthy individuals. However, it’s becoming easier to obtain given the growing frequency they are appearing on online markets.

    While many people would like to invest in precious metals, most aren’t sure of the best way to do it. The tips we provide in this post will help you invest like a pro in no time.

    • Know the basics

    When it comes to buying and selling silver, gold, platinum and palladium, ignorance isn’t bliss. They are costly investments, and regrettably, there are many scams and counterfeit products out there that’ll separate you from your money if you’re not careful.  Knowledge and education are key in helping you avoid bad investments. Make sure you’re patient and study the market trends to know how the market is doing in your area. 

    • Know the type of buyer you are

    Knowing the kind of buyer you are will work in your favour. Whether you’re looking for a hedge beside inflation, or you’re a safe investor, understand where you fall. Investing in gold for many is a component of having a balanced portfolio. However, if you don’t understand or want a financed or leveraged investment, you could lose much more money than you were loaned. Also, a gold certificate is made of paper, and most people buying bullion do so to steer clear of paper money. Gold shares are high-risk, speculative investment options. Owning gold is the most conservative form of investment. Its purchasing power has the ability to remain stable for many years.

    • Know your bullions

    Gold is often sold as coins or bars, which are available in different sizes. Coins with numismatic value can demand a premium.

    Gold bars start at a single ounce and increase in price and weight from there onwards. The South African (Krugerrand), the US (Gold Eagle) and the Canadian (Maple Leaf) designs are among the easiest to liquidate.

    Understand the investment

    Bullions are an asset and will not produce any income by simply holding onto them. Neither will they earn interest or pay dividends. But for this same reason, you won’t be subject to taxes for them. Both capital gains and losses come into play when you’re selling the bullion. But before you do, think whether the potential increase will push you to a higher tax bracket.

    • Understand the bullion prices

    The current market price of gold is the marked price, one that can be delivered right away. To acquire the gold, silver or platinum bullion bars or coins, the dealer pays a bid sum. The final sum paid is the requested price. The calculation is based on the market value of the metal with an additional premium tacked on.

    It’s important to be knowledgeable about your investment options. Doing your research thoroughly can provide beneficial results, though it may be a tedious task. Also, keep an eye on the market and keep yourself updated, as your decision will most likely affect your future. 

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  8. 4 Uses of Platinum That You Didn’t Know About

    Platinum may be rare, but it’s the third most traded metal in the world today. That’s because its uses are numerous and span several sectors. It’s mos frequently used in jewellery, as an autocatalyst, and for medical and industrial purposes.

    If you’re planning on investing in platinum, then it’s important for you to know some of its multiple uses.  With this information, you’ll be better able to predict the demand and supply dynamics. Keeping this in mind, we’ve listed 4 important uses of Platinum.

    • Platinum in jewellery

    Platinum has several unique qualities that make it ideal to be used as jewellery. This is the second largest source of it’s demand. The metal is sturdy and it can resist discolouration. It can be heated and cooled without oxidizing. Platinum bullion can be melted and alloyed with other platinum group metals such as cobalt and copper while making jewellery. This makes it easier to work with.

    • Platinum used as an autocatalyst

    Autocatalysts are known as catalytic converters when mounted within a stainless steel canister. These converters are placed in the vehicles’ exhaust lines. Most of the carbon monoxide and hydrocarbons are converted into carbon dioxide, water vapour and nitrogen. Pollutants from the diesel exhaust can be converted into water vapour and carbon dioxide. This helps in reducing pollution.

    • Platinum’s uses in the medical industry

    Platinum has several uses in the medical field. It’s used in catheters, neuromodulation devices and stents. Platinum is also used in various electronic medical devices. It’s perfect for these applications as it’s durable, biocompatible and conductive. The metal is immobile within the body, which makes it safe for implantation.

    Platinum can be formed into wires, rods, sheets, ribbons and micromachined parts. It aids in the fight against cancer. It is also used as a component in drugs used to treat testicular, ovarian, lung and breast cancers.

    • Industrial uses of platinum

    The sturdiness of platinum makes it an important addition to multiple industries. There are so many industrial uses for it; one could practically write a book on them. For instance, fertilizer ingredients are manufactured using platinum catalysts. Platinum is also the key component in silicone, electronics, hard disks, glass-manufacturing equipment, home safety device sensors and even for dental restoration.

    Platinum is an important metal next to gold and silver. Even though platinum has several uses, it’s still being overlooked by potential investors. 

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  9. Why Should You Invest in Platinum Coins?

    Platinum is one of the rare precious metals found on Earth. Over the years, this metal has become a suitable option for investment due to its rarity and usage across different fields. It’s no wonder that along with platinum bars, the platinum coin market is also booming. 

    Considering its value and demand, it is a good option for investment. If you are a first-time buyer of platinum coins, you may feel overwhelmed by all the options available and may have lingering doubts about your investment. To address questions you may have, we’ve come up with this useful guide to platinum coins, the advantages, variants and what determines their rarity. 

    Let’s get started. 

    The Advantages of Buying Platinum Coins 

    • •    Rarity 

    Platinum is only available only in few places around the world, like in select parts of Russia and, South Africa. Due to its limited availability, it’s only ever extracted in small quantities making it great for investment. 

    • •    Increasing Demand 

    In last few years, platinum coins have become popular among investors as an alternative investment option to gold and silver coins. This valuable metal is used in several industries and including the making of jewellery. Due to the distinctive properties of platinum, it became a lucrative investment option for many investors. 

    • •    Market Volatility and Long-Term Benefits 

    Owing to rising demand due to the multi purpose use of platinum, the price of this valuable metal fluctuates regularly due to the volatile nature of the economic market. Thus, platinum coins have the potential to outperform other forms of investment and can give you impressive returns. 

    •    Explore Wide Range of Options 

    Investing in platinum coins, especially those only available in limited quantities i.e. rare numismatic coins, gives you a lucrative opportunity to choose from variants of coins available in the market. 

    Based on popularity and production, here are a few different types of platinum coins available in the market: 

     Ø  American Platinum Eagle Coins 

    These platinum coins were issued after gaining acceptance from the US government. These coins were made available in 1997. One of the unique features of these coins is that every year the obverse side of the coins undergoes a transformation with impressive designs engraved on it. These coins contain high-quality platinum in its purest form. 

    • Canadian Maple Bullion Coins 

    The Canadian Platinum Maple Leaf Coin was the first official platinum coin of Canada. They were first issued by the Royal Canadian Mint in 1988. One of the key features of these coins is a distinctive design of maple leafs engraved on the reverse side. They were available in five different denominations, made of .9995 pure platinum. 

    The Royal Canadian Mint stopped minting these coins by 2002 due to the sudden increase in coin price because of high demand. It was reintroduced in 2009 in 1 troy ounce with the effigy of Queen Elizabeth II, designed by Susanna Blunt in 2003. According to 2012 reports, they were “the world’s best-selling platinum coins”. 

    • Australian Koala Platinum Coins 

    These coins were issued by the Perth Mint in 1988. They are available in three variants: two ounce, ten ounce and one kilogram. These coins feature the Queen Elizabeth II on the obverse side and a koala on the reverse side. 

    • Isle of Man Platinum Noble Coins 

    These platinum coins also known as Manx Noble, were minted in 1983 by Pobjoy Mint. These coins feature a Viking ship on the reverse side and the word ‘platinum fine’ inscribed on it. The minting of these coins was halted in 1989. 

    • Austria Vienna Platinum Philharmonic Coins 

    The Vienna Philharmonic platinum coins were first introduced in 2016. They are made of .9995 pure platinum. These coins were named after the famous Vienna Philharmonic Orchestra. 

    These coins are amongst the most popular in Continental Europe. 

    • Platinum Panda Coins 

    These platinum coins were produced in China. It was first minted in 1987. The People’s Republic of China issued these coins with a face value of 100 Yuan. The minting of these coins was stopped in 2005 due to an increase in the price of platinum. 

    One of the key features of these coins was the image of giant panda inscribed on the reverse side. 

    Rarity of Platinum Coins 

    These types of coins are famous among curators and collectors who want to own a unique collection. There are two factors which determine the rarity of platinum coins. They are:- 

    • •    Age of the coin 

     It is a common belief that the older coins, the more valuable they are. This is also applicable for platinum coins.

     •    Special Single Issue Coins 

    These types of coins are in high demand among collectors. They are issued only once to commemorate a special anniversary or occasion. Platinum coins issued by Estonia in honour of its 90th anniversary, Tonga issued platinum coins to mark the coronation of Taufa'ahau Tupou IV. The coins, issued in select parts of Congo, Panama, South Africa, Portugal and France are all single issue platinum coins. 

    Investing in platinum coins has long-term benefits. First-time buyers can choose from the diverse range available online.  Based on age, type and rarity, buyers can decide what is suitable for their collection and level of investment.

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  10. How to Care for Your Silver Coins and Bars

    silver coins & silver bar

    It’s a common occurrence for silver coins and bars to discolour over time. This discolouration is known as tarnish. Anyone who has invested in silver may experience this with their silver coins and bars at some point and worry if it’s a good or bad sign. In this blog, we’ll discuss the reasons behind the discolouration of your silver and how you can take preventive measures.

    What is Tarnish?

    The chemical reaction that occurs when silver is exposed to air, humidity and pollution is known as tarnish. The silver atoms encounter the oxygen and hydrogen sulfide in the air to produce silver oxide which forms a layer on top of the silver. This makes the silver appear discoloured and darker.  Tarnish, however, doesn’t affect the silver in any way other than its appearance. The process can be slower or faster depending on the quality of the finishing of the coin.

    How to Remove Tarnish from Your Silver Coins and Bars?

    There are some simple methods of cleaning tarnish off your silver coins and bars.

    • Cleaning Silver Coins 
    1. Use commercially available silver coin cleaner or silver polish to clean your silver coins. Put a few drops of the solution on a soft cloth and rub the coin with it. Clean both sides of the coin and within a few minutes of rubbing, you can get back the lost shine and lustre of your coin.

                Alternatively, you can also take a small amount of silver coin cleaning solution, swish your coin in it for a few seconds and then rinse it well with water. Wipe it dry with a clean cloth.

            2.Another method of cleaning involves a DIY solution of water and baking soda. In a small container, mix water and baking soda to make a watery paste. Dip the coin in this paste and rub both of its sides for at least            a minute with the help of your thumb and index finger. Then rinse with water and wipe it dry. You may need to repeat the process 3 or 4 times to remove the tarnish. 

    • Cleaning Silver Bars 

    You can clean your silver bars in the same way, using a commercial cleaning solution. However, there’s another low-cost effective way. Take a pan and place aluminium foil on it. Keep the shiny side up. On this foil add a cup of boiling water. The aluminium foil will float on the water. Stir in about a tablespoon of baking soda. You may add some more hot water as it works better at a higher temperature. Next, place your silver bar on the aluminium foil for a minute. Then flip the bar to clean its opposite side. The tarnish will be gone and you’ll see instant results. 

    How to Prevent Tarnish in the Future?

    Store your silver coins and bars in plastic bags as this’ll limit their exposure to the air. You can also store silver in air-tight containers, coin holders or hermetically sealed chambers. Avoid places that are too humid. Also, don’t handle your silver coins and bars with your bare hands as oil and dirt can stain them. Wear cotton or latex gloves when handling them.

    Don’t worry too much about tarnished silver coins and bars. It doesn’t affect the value of your silver. However, if you want to clean the tarnish because of aesthetic preference, do so carefully. When using silver polish or commercial silver cleaners, if you use the solution for too long, it can erode the finish of the coin along with the tarnish. Also, it’s better if you don’t attempt to clean your numismatic silver coins as it can lessen the value of the rare coin.

    If you’re not sure whether you should clean the tarnish off your silver coins or not, visit a local silver coin dealer for advice. 

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