coins http://www.wisebread.com/taxonomy/term/9334/all en-US Where Are They Now? The Forgotten Dollar Bills (and Coins) http://www.wisebread.com/where-are-they-now-the-forgotten-dollar-bills-and-coins <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/where-are-they-now-the-forgotten-dollar-bills-and-coins" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-180815112.jpg" alt="two dollar bills" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Anybody who buys or sells things in the U.S. knows the ordinary circulating notes and coins &mdash; even people who use their debit card most of the time. If you're at all interested in money, you probably also know that there are a bunch of notes and coins that nobody uses anymore. The whys and wherefores of this &quot;forgotten&quot; money makes for an interesting history. (See also: <a href="http://www.wisebread.com/clams-cheese-and-bread-why-we-call-money-what-we-do?ref=seealso" target="_blank">Clams, Cheese, and Bread: Why We Call Money What We Do</a>)</p> <h2>Notes and coins you can use, but nobody does</h2> <p>There is one coin and one note that I would use all the time, if they didn't turn out to be so awkward to use at the checkout counter.</p> <p>That would be the $1 coin, or Sacagawea Golden Dollar:</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5170/sacagawea_golden_dollar.jpg" width="340" height="340" alt="" /></p> <p><em>[Photo: United States Mint]</em></p> <p>And the $2 bill:</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5170/two_dollar_bill.png" width="605" height="256" alt="" /></p> <p><em>[Photo:&nbsp;United States Bureau of Engraving and Printing]</em></p> <p>Well, almost nobody. I actually used to use the $1 coin quite a bit, as a way to enable my soft drink habit. Because the current dollar coins have the same size, weight, and electromagnetic properties as the Susan B. Anthony dollar issued in 1979, any vending machine made in the last 40 years can accept the coin. I found it much more convenient to stick a couple of dollar coins in my pocket, instead of eight quarters.</p> <p>If you're going to transact business with a person, though, trying to hand over a dollar coin is going to slow things down.</p> <p>Probably even worse would be trying to use a $2 bill. They're ordinary circulating bank notes &mdash; legal tender, currently issued Federal Reserve notes. You can buy as many as you want at your local bank (although it might take a short wait while the teller visits the vault). But once again, if you use them in a checkout line, you're likely going to catch the cashier off guard. They're that rare.</p> <h2>Notes and coins you could use, but shouldn't</h2> <p>There are also some notes and coins that are rare enough to be valuable. Using them as legal tender would be a waste of money.</p> <h3>Large-denomination notes</h3> <p>There used to be $500 and $1,000 bills circulating as regular currency. They were useful for large transactions (buying a business, buying real estate, etc.) in times and places where it might take days to clear a check (or even know if it was good).</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5170/500_USD_note.jpg" width="605" height="256" alt="" /></p> <p>By the 1960s, those times and places had gotten pretty scarce, and there was a general sense that the main reason someone might use these sorts of high-denomination bank notes was to engage in illicit transactions &mdash; drug deals, bribes, political payoffs, and so on. In 1969, President Nixon ordered the $500 and $1,000 bills withdrawn from circulation in order to make corrupt payments harder.</p> <p>However, it remains a point of pride for the U.S. Treasury that legal tender U.S. currency remain legal tender: The public can rely on money that has ever entered circulation at its face value. So you can still use a $500 or $1,000 bill if you have one. People actually do use them, mostly as a way to show off &mdash; think of putting a stack of $500 bills down at a high-stakes poker game.</p> <p>You could even deposit them at the bank and get face value. But it would be a dumb idea, because they're worth more than face value as a collectible. The particular price you'd get depends on the rarity and condition of the bill, but certain rare $500 bills reportedly sell to collectors for as high as $10,000.</p> <p>There used to be $5,000 and $10,000 notes, as well. There was even a $100,000 gold certificate, but it never circulated: It was issued by the U.S. Treasury to Federal Reserve Banks against gold deposited with the Treasury, and used to balance the books among the different Federal Reserve Banks.</p> <h3>U.S. Mint bullion coins</h3> <p>The U.S. Mint issues a whole series of silver, gold, and platinum coins which are legal tender.</p> <p>The American Eagle one-ounce gold coin is legal tender for $50, but since the coin would cost you $1,500 or so, you wouldn't want to spend it. The gold coins come in a bunch of fractional-ounce sizes as well. There's also a one-ounce silver coin: legal tender for $1, street value about $20.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5170/2016-american-eagle-gold-one-ounce-bullion-coin-reverse.jpg" width="340" height="340" alt="" /></p> <p><em>[Photo: United States Mint]</em></p> <p>These are legal tender for a specific reason that has nothing to do with the idea that anyone might actually spend them: The purchase and sale of legal tender instruments isn't subject to sales tax. (Which is a good thing. Imagine having to pay sales tax if you changed a $20 into $5 or $1 bills at the bank!) Because of the technicality that the U.S. Mint's bullion coins have a face value, you can buy and sell them without paying the sales tax.</p> <h2>Notes and coins that were short-lived</h2> <p>There have been a few oddball notes and coins that were very short-lived. Today, these are worth far more than face value when sold as collector's items.</p> <h3>Hawaii overprint dollar</h3> <p>During World War II, there was considerable concern that Japan might invade Hawaii, and part of the concern was that doing so would give them access to the currency on the island in the hands of banks, business, and ordinary people. With those dollars, Japan would be able to buy weapons, fuel, and other war material.</p> <p>The U.S. responded by withdrawing all the currency from circulation, and replacing it with currency that had the word Hawaii overprinted on both sides.</p> <p>&nbsp;<img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5170/hawaii_overprint_note_0.jpg" width="605" height="522" alt="" /></p> <p><em>[Photo:&nbsp;National Numismatic Collection, National Museum of American History]</em></p> <p>The idea was that, if there was an invasion, the U.S. could demonetize the overprinted dollars, making them worthless to the invaders, but that on the islands they could circulate normally until or unless there was an invasion.</p> <p>After the war the overprint currency was replaced with ordinary notes.</p> <h3>Trade dollars</h3> <p>In the 1870s, trade between China and the West largely depended on Spanish silver dollars. This annoyed traders from many other countries, who disliked having to buy the foreign coins to pay the Chinese.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5170/1873_US_Trade_Dollar.jpg" width="605" height="303" alt="" /></p> <p>Because this happened just as a gold standard (rather than a bimetallic system based on both gold and silver) was emerging, the legal-tender status of these silver coins was in flux. Initially they were legal tender only up to $5. When the price of silver fell, making their face value more than the silver content, and the coins started flowing back into the country, Congress responded by officially demonetizing the trade dollar in 1876.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fwhere-are-they-now-the-forgotten-dollar-bills-and-coins&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FWhere%2520Are%2520They%2520Now_%2520The%2520Forgotten%2520Dollar%2520Bills%2520%2528and%2520Coins%2529.jpg&amp;description=Where%20Are%20They%20Now%3F%20The%20Forgotten%20Dollar%20Bills%20(and%20Coins)"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Where%20Are%20They%20Now_%20The%20Forgotten%20Dollar%20Bills%20%28and%20Coins%29.jpg" alt="Where Are They Now? The Forgotten Dollar Bills (and Coins)" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/philip-brewer">Philip Brewer</a> of <a href="http://www.wisebread.com/where-are-they-now-the-forgotten-dollar-bills-and-coins">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/you-wont-believe-how-much-these-10-rare-coins-are-worth">You Won&#039;t Believe How Much These 10 Rare Coins Are Worth</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-world-currencies-that-took-a-hit-in-2016">8 World Currencies That Took a Hit in 2016</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-powerful-images-of-money-and-what-they-really-mean">6 Powerful Images of Money and What They Really Mean</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/placing-prepositions-where-you-from-where-you-at">Placing Prepositions: Where you from? Where you at?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/local-currencies">Local Currencies</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance circulation coins collectibles currency dollars history legal tender money u.s. Mint Wed, 03 Jan 2018 09:00:07 +0000 Philip Brewer 2080476 at http://www.wisebread.com What Is Cryptocurrency, Anyway? http://www.wisebread.com/what-is-cryptocurrency-anyway <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/what-is-cryptocurrency-anyway" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/bitcoin_coin_on_white_keyboard.jpg" alt="Bitcoin coin on white keyboard" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Investors are always looking for the next &quot;big thing.&quot; Throughout 2017, cryptocurrencies have been experiencing a surge in market valuations with Bitcoin and Ethereum trading above $4,000 and $300, respectively, as of August.</p> <p>With the price of one Bitcoin (BTC) trading well above the price of one ounce of gold, more and more people are jumping on the cryptocurrency bandwagon: On August 8, 2011, there were only <a href="https://blockchain.info/charts/n-transactions?timespan=1year&amp;daysAverageString=1&amp;scale=0" target="_blank">8,638 BTC transactions</a>. Fast forward six years, and the daily number of BTC transactions has surged to 260,955! (See also: <a href="http://www.wisebread.com/heres-everything-you-need-to-get-started-with-bitcoin?ref=seealso" target="_blank">Here's Everything You Need to Get Started With Bitcoin</a>)</p> <p>So what exactly are cryptocurrencies, and should you invest?</p> <h2>What is cryptocurrency?</h2> <p>Basically, cryptocurrency is a digital or virtual asset that uses cryptography as a security measure. Designed by somebody under the pseudonym &quot;Satoshi Nakamoto&quot; back in 2009, Bitcoin was the very first cryptocurrency. Today, there are over 1,050 cryptocurrencies (often referred to as &quot;coins&quot;) with funny names, including Dogecoin, Veritaseum, Factom, and Counterparty. However, their valuations are no joke: The total market capitalization of all coins stood at $151 billion as of August 23, 2017.</p> <p>Unlike currencies issued by nations, cryptocurrencies can be issued by anybody with access to the right technology. Capitalizing on this fact, tech entrepreneurs all around the world are launching coins every day with the promise that once products or services are available, the coins will be redeemable for those products and services. For example, the developers behind Siacoin provide a decentralized storage marketplace in which hosts compete for your business, and those behind Monero deliver a private and untraceable cryptocurrency. Research firm Smith &amp; Crown reports that so far in 2017, 65 projects have raised over $520 million in coins.</p> <h2>Should you invest in cryptocurrency?</h2> <p>The upside potential of a coin is huge, but this doesn't mean that cryptos are for everybody. There are a few important details you should know before you dive in.</p> <h3>There is high volatility</h3> <p>Take for example Neo (formerly AntShares) which was trading at $1.50 per coin on June 10, 2017 and peaked at $51.94 per coin on August 13, 2017. There are very few places that you can get a 3,362 percent return in just two months. But what goes up eventually comes down and Neo traded at $31.76 on August 18, 2017. Could you stomach over a 38 percent drop in value of your investment in just four days? With big price swings on a daily basis, coins aren't for investors with low tolerance to risk.</p> <h3>Investing requires some tech know-how</h3> <p>Buying and trading cryptocurrency requires you to be comfortable using some desktop or smartphone applications. Attention to detail is critical to avoid losing your hard-earned coins. Here are some important things to note:</p> <ul> <li> <p>Typing one wrong character in your 33- to 34-character long Bitcoin address when doing transactions could mean that your money ends up in somebody else's account.</p> </li> <li> <p>Sending cryptocurrency into the wrong address (say, for example, sending Ethereum Classic coins into an Ethereum wallet address) will make your cryptocurrency disappear. Most exchanges won't even help you try to recover the misplaced coins for small amounts (Bittrex sets a $5,000 minimum) and will charge you a hefty fee for the recovery.</p> </li> <li> <p>All exchanges recommend doing a small test amount before doing a large deposit or withdrawal.</p> </li> </ul> <h3>The rules are always changing</h3> <p>With more and more people buying and selling cryptocurrencies, more government agencies at different levels are creating laws that affect consumers in different ways. For example, here are a few regulations that have been placed in recent years:</p> <ul> <li> <p>In 2014, The IRS deemed a cryptocurrency as property. This means that the same general tax principles used for reporting the sale of a piece of land would apply to the sale of 10 BTC (around $42,330 at the time this article was written).</p> </li> <li> <p>In 2015, the New York State Department of Financial Services (NYDFS) passed the BitLicense regulatory framework, requiring Bitcoin companies serving New York residents to keep detailed records of all users in that state. Claiming concerns for user privacy, Kraken and Bitfinex decided not to serve users residing in this state.</p> </li> <li> <p>In mid 2017, the Hawaii Division of Financial Institutions (DFI) created regulatory policies that required exchanges to hold cash reserves equivalent to the value of cryptocurrencies held by Hawaii residents. This requirement prompted all exchanges, including Coinbase, to stop operating in Hawaii or postpone their plans to open in that state.</p> </li> </ul> <h3>Transaction wait times can vary</h3> <p>Despite the claims that cryptos are the way of the future, it surely can feel that you're back in the stone age waiting for a Bitcoin transaction to clear. In order to verify transactions, exchanges rely on a number of confirmations from the network. Depending on the volume of transactions and other factors, the wait time can vary from a few minutes to several hours. Waiting for a purchase of $5,000 worth of Litecoin could be a nerve racking experience for a new (and even experienced) investor.</p> <p>This delay in transaction time also means that you won't necessarily get the price you wanted when buying or selling your coins. On Saturday August 19, 2017, Bitcoin Cash was trading as high as $996.92. By Tuesday August 22, 2017, one coin was now trading around $582. If you had been trying to dump your coins on Tuesday, you would probably have done so at a price much different from the one you originally wanted.</p> <h3>There are liquidity issues</h3> <p>With over 1,000 cryptocurrencies to choose from, you may end up with a &quot;winner&quot; that performs well for some time. But as government laws or exchange rules evolve, your coin of choice may be dropped from several exchanges.</p> <p>IOTA is a great example. U.S. residents could buy IOTA from Bitfinex, but on August 11, 2017 the exchange announced that it would stop accepting new U.S. customers and will discontinue services to all current ones over the next 90 days. If you held IOTA, you're now forced to seek a new exchange to trade and/or wallet to store your coins. In the very worst case scenario, you may have to liquidate your position to avoid losing your money. Just ask owners of SpaceBIT, Quebecoin, and DAO.</p> <h2>The bottom line: Trade cautiously</h2> <p>There are several individuals who are making money trading Bitcoin and other cryptocurrencies. If you had purchased $100 BTC on January 1, 2011, you would have acquired 333.33 coins at $0.30 each. By August 24, 2017, that original investment would be worth over $1.4 million!</p> <p>However, make sure that you understand all the potential risks involved with these virtual currencies. Given their inherent volatility, don't bet the house on cryptocurrencies. Additionally, to have a true picture of how much money you're making with cryptocurrencies, include all applicable fees. Remember that every cryptocurrency transaction, whether it's a purchase, sale, deposit, or withdrawal has a fee from an exchange, financial institution, or both. Happy trading!</p> <p><em>[Disclaimer: The author owns some Bitcoin and Siacoin. He received no payment from any of the cryptocurrencies or exchanges mentioned in this article.]</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fwhat-is-cryptocurrency-anyway&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FWhat%2520Is%2520Cryptocurrency%252C%2520Anyway-.jpg&amp;description=What%20Is%20Cryptocurrency%2C%20Anyway%3F"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/What%20Is%20Cryptocurrency%2C%20Anyway-.jpg" alt="What Is Cryptocurrency, Anyway?" width="250" height="374" /></p> <p style="text-align: center;">&nbsp;</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/what-is-cryptocurrency-anyway">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-an-exit-strategy-can-make-you-a-better-investor">How an Exit Strategy Can Make You a Better Investor</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-portfolio-blind-spots-that-are-ruining-your-investments">4 Portfolio &quot;Blind Spots&quot; That Are Ruining Your Investments</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/buying-virtual-cats-might-be-the-future-of-investing">Buying Virtual Cats Might Be the Future of Investing</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-being-uninformed-costs-you-money">How Being Uninformed Costs You Money</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dont-be-fooled-by-an-investments-rate-of-return">Don&#039;t Be Fooled by an Investment&#039;s Rate of Return</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Investment bitcoin buying coins cryptocurrency digital currency marketplaces selling technology trading volatility Wed, 11 Oct 2017 08:30:06 +0000 Damian Davila 2034469 at http://www.wisebread.com 4 Ways to Add Gold to Your Portfolio http://www.wisebread.com/4-ways-to-add-gold-to-your-portfolio <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-ways-to-add-gold-to-your-portfolio" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-165418687.jpg" alt="Learning ways to add gold to your portfolio" title="" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>Owning gold can be an attractive insurance policy in case of stock market turmoil or a decline in currency valuation. In times of economic uncertainty, gold prices tend to increase even when the value of other investments goes down.</p> <p>If you are looking to reduce your exposure to stock market investments, or simply want to have something of value to trade in case of a zombie apocalypse, here are four ways you can invest in gold today.</p> <h2>1. Gold coins and bullion</h2> <p>The U.S. Mint issues American Eagle gold bullion coins in the following denominations:</p> <ul> <li>1/10 ounce</li> <li>&frac14; ounce</li> <li>&frac12; ounce</li> <li>1 ounce</li> </ul> <p>The selling price of these coins floats with the price of gold, plus you will pay a few percent premium for getting a minted coin instead of a plain piece of gold. With the current price of gold at over $1,200 an ounce, you can find 1/10 ounce American Eagles selling from dealers for under $150. Gold coins produced by the U.S. Mint are not sold directly to the public, but may be purchased from a network of <a href="https://catalog.usmint.gov/bullion-dealer-locator?_ga=2.66368809.627583906.1498523906-142188866.1498523906" target="_blank">authorized bullion dealers</a> who buy the coins from the mint for resale.</p> <p>Another option is the American Buffalo gold coin that comes in a 1 ounce denomination. This is a legal tender coin whose gold content is guaranteed by the U.S. Government. These coins are available at coin dealers and participating banks. The South African Krugerrand, Canadian Gold Maple Leaf, Australian Gold Nugget, Chinese Gold Panda, and British Gold Britannia are other popular gold coins from around the world.</p> <p>A less expensive alternative to gold coins is to buy gold bars or gold rounds. These are not as impressive to look at, but are priced near the current trading price, or &quot;spot price,&quot; for gold. This form of bullion may have simple markings with the weight and purity of the gold.</p> <p>If the thought of keeping gold hidden in your closet or safe makes you nervous, consider using a bullion trading and storage platform. You can buy and sell physical gold bullion and it never has to leave the secure vault where it is stored unless you want to take it out. This gives you the benefit of directly owning gold without the hassle of transporting and storing it.</p> <h2>2. Gold jewelry</h2> <p>An advantage of buying gold in the form of jewelry is that you can wear and enjoy your investment, and it is highly transportable. A smart way to invest in gold is to give gold jewelry as a gift. A gift of precious metal jewelry will hold its value and possibly grow in value while most other gifts depreciate and eventually end up in a landfill.</p> <p>When buying gold jewelry, you need to pay attention not only to the weight of the jewelry, but also the purity of the gold. Pure gold is designated as 24 karat gold. But pure gold is too soft and malleable for jewelry, so it is often mixed with other metals to make the jewelry harder and stronger. For example, jewelry that is 18 karat gold is 18/24, or 75 percent gold and 25 percent other metals. You can divide the karat rating of jewelry by 24 to determine the fraction of gold that it contains.</p> <p>Sometimes you can find broken, tangled, or damaged gold jewelry for sale at a pawnshop for less than the spot price of gold. Just make sure you are buying solid gold, and not just gold plated items.</p> <h2>3. Gold exchange traded funds (ETFs)</h2> <p>A gold ETF is a fund that aims to track the price of gold. Some funds actually hold gold, while others do not own gold, but use derivative contracts instead. Gold ETFs allow a quick and easy way to get an investment that tracks the price of gold, and are convenient for large transactions since you do not need to move or store a lot of gold.</p> <p>There are a couple of potential downsides to investing in a gold ETF. When you buy shares in a gold ETF, you might not actually own any gold &mdash; in some cases, you will own only shares in the fund. Since the fund tracks the price of gold, you may not have a problem with this. But if you are trying to reduce your exposure to large financial institutions by investing in gold, buying shares in a fund run by a large financial institution might not meet your goal. Also, some gold ETFs sell some of the gold that they hold to cover expenses, so the amount of gold per share that you own can be reduced over time.</p> <h2>4. Gold industry stocks and mutual funds</h2> <p>Another way to get a piece of the gold market is to buy stock of companies involved in gold mining and gold production. When gold prices go up, the stock prices of these companies can also go way up. Conversely, when gold prices go down, the stock prices of these companies can go way down.</p> <p>You can buy individual company stocks or mutual funds that provide holdings in a number of companies in the gold industry. This market segment is especially volatile, but may provide a hedge against other types of investments in your portfolio.</p> <h2 style="text-align: center;">Like This Article? Pin it!</p> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F4-ways-to-add-gold-to-your-portfolio&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F4%2520Ways%2520to%2520Add%2520Gold%2520to%2520Your%2520Investment%2520Portfolio.png&amp;description=4%20Ways%20to%20Add%20Gold%20to%20Your%20Investment%20Portfolio"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/4%20Ways%20to%20Add%20Gold%20to%20Your%20Investment%20Portfolio.png" alt="4 Ways to Add Gold to Your Investment Portfolio" width="250" height="374" /></p> </h2> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dr-penny-pincher">Dr Penny Pincher</a> of <a href="http://www.wisebread.com/4-ways-to-add-gold-to-your-portfolio">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-10-weirdest-etfs-you-can-buy">The 10 Weirdest ETFs You Can Buy</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-you-choosing-the-right-fund-for-your-portfolio">Are You Choosing the Right Fund for Your Portfolio?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-things-everyone-should-know-about-the-commodities-markets">8 Things Everyone Should Know About the Commodities Markets</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-3-rules-every-mediocre-investor-must-know">The 3 Rules Every Mediocre Investor Must Know</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/youre-wasting-up-to-42532-by-not-investing-your-gasoline-savings">You&#039;re Wasting Up to $42,532 by Not Investing Your Gasoline Savings</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Investment bullion coins ETFs exchange traded funds gold gold industry jewelry mining stock market u.s. Mint value Mon, 07 Aug 2017 08:00:05 +0000 Dr Penny Pincher 1994330 at http://www.wisebread.com 6 Reasons You Should Still Go to the Bank http://www.wisebread.com/6-reasons-you-should-still-go-to-the-bank <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-reasons-you-should-still-go-to-the-bank" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_working_professional_000051525584.jpg" alt="Woman finding reasons to still go to the bank" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Did your bank close your local branch? It wouldn't be surprising. According to a report from SNL Financial, banks closed 1,614 U.S. branches in 2015. JPMorgan Chase &amp; Co. led the way, closing 195 branches, while PNC closed 94 and Bank of America Corp. 88 last year.</p> <p>The reasons are obvious: Most customers rarely need to enter a bank branch. Employees' paychecks are often direct-deposited to their banks. Customers today make deposits through their smartphones. And they pay their bills online.</p> <p>But that doesn't mean there aren't times when actually visiting a bank in person makes sense. When should you tuck away your smartphone and step into your local branch?</p> <h2>1. You're Applying for a Mortgage</h2> <p>Sure, you can <a href="http://www.wisebread.com/8-credit-mistakes-that-could-hurt-your-mortgage-application" target="_blank">apply for a mortgage</a> online with many financial institutions. And you don't have to even take out a mortgage with your local branch. But if you like your bank, you might want to at least talk to a loan officer at your local branch about a mortgage.</p> <p>A mortgage is a big financial commitment. Sometimes you want to talk to a financial professional in person for advice and recommendations. Again, you don't have to turn to your local bank for this advice; you can work with any mortgage lender licensed to do business in your state. But your bank might offer competitive rates and lower closing costs. You won't know until you contact them.</p> <h2>2. You're Ready to Buy a Car</h2> <p>It's good financial sense to have financing in place before you shop for a new car. You might still take the financing offered by your auto dealer, but coming into the dealership pre-approved for an auto loan provides you with a back-up if you don't like your dealer's terms. It might also save you money; dealers might lower your interest rate to persuade you to take out a loan with them instead of with a different financial institution.</p> <p>Your bank certainly offers auto loans. If the rate it is offering is a good one, it might make sense to visit your local branch to talk through your auto-financing options.</p> <h2>3. You Need a Money Order</h2> <p>It's true that you can get a money order from several outlets, including credit unions, the U.S. Post Office, and many retailers. But you can also get them from your local bank branch. And if your branch is conveniently located, charges reasonable fees and is likely to be less crowded, why not get a money order from there?</p> <h2>4. You Need a Notary</h2> <p>Finding a notary is hardly a challenging task these days: Your local public library might even have one on staff. The odds are high, too, that your local bank branch offers a notary service. Most won't even charge to have a notary sign your documents. Again, if your bank is located a short drive from your home and is likely to offer quick service, visiting your branch for the services of a notary public could save you time.</p> <h2>5. You Need a Specific Type of Change</h2> <p>Maybe you're holding a yard sale and you need tons of singles. A good place to get change in specific denominations? Your local bank. Banks are happy to turn your large bills into smaller ones. And your teller won't flinch no matter how specific you get with how many $1s, $5s and $10s you need.</p> <h2>6. You're Ready to Empty That Coffee Can of Pennies</h2> <p>Got a jug stuffed with pennies, dimes, and nickels at home? Your bank will be happy to convert that change to dollars. Yes, you can go to your nearest Coinstar machine to do the same thing. But Coinstar charges a fee. Your local bank branch, if you are a customer, might not.</p> <p><em>Do you still pay regular visits to your bank?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/6-reasons-you-should-still-go-to-the-bank">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/best-ways-to-count-and-cash-in-your-change">Best Ways to Count (and Cash in) Your Change</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/six-options-if-youre-underwater-on-your-mortgage">6 Options if You&#039;re Underwater on Your Mortgage</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/why-you-should-consider-an-adjustable-rate-mortgage">Why You Should Consider an Adjustable-Rate Mortgage</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-personal-finance-calculators-everyone-should-use">15 Personal Finance Calculators Everyone Should Use</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/refinance-these-4-common-debts-before-year-ends">Refinance These 4 Common Debts Before Year Ends</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Banking car loans change coins going to the bank money order mortgages notary Fri, 06 May 2016 10:00:06 +0000 Dan Rafter 1703946 at http://www.wisebread.com You Won't Believe How Much These 10 Rare Coins Are Worth http://www.wisebread.com/you-wont-believe-how-much-these-10-rare-coins-are-worth <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/you-wont-believe-how-much-these-10-rare-coins-are-worth" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/cash-jar-4985478-small.jpg" alt="coins" title="coins" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>Coin collecting can be a nice little hobby or a major investment. Some people devote their lives, and their wealth, to investing in these coins that can fetch millions of dollars at auction. And while this is almost certainly out of the realm of possibility for most of us, the idea of one day coming across a rare coin by chance is a tantalizing prospect. What if? (See also: <a href="http://www.wisebread.com/how-to-make-a-piggy-bank?ref=seealso">How to Make a Piggy Bank</a>)</p> <p>Here, then, are 10 of the most valuable coins in the world. If you find one, it's almost certainly a fake&hellip;but, you never know!</p> <h2><img width="180" height="174" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/brasherdoubloon.jpg" alt="" />1. The Brasher Doubloon</h2> <p>A very rare, privately minted American coin, the Brasher Doubloon was issued on and after 1787. Named after Ephraim Brasher, the talented goldsmith who created the coin, it was the first gold coin made for the United States. Small, bearing an eagle and the words E Pluribus Unum, it's very rare and very valuable. In January of 2005, a <a href="http://coins.ha.com/c/item.zx?saleNo=360&amp;lotNo=30016&amp;type=http://en.wikipedia.org/wiki/Brasher_Doubloon&amp;short=360*30016">Brasher Double EB Wing</a> sold for $2,415,000. Other variations have sold for around $700,000, to over $7.4 million!</p> <h2><img width="180" height="180" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/flowinghair.png" alt="" />2. The Flowing Hair Dollar</h2> <p>Minted between 1794 and 1795, the flowing hair dollar was the very first dollar coin issued by the United States Federal Government. On one side, lady Liberty is pictured, her hair flowing like the description. On the rear, an eagle and the words United States of America. Just last year in January, <a href="http://coins.about.com/b/2013/01/25/1794-silver-dollar-is-the-worlds-most-valuable-coin.htm">a 1794 coin was sold for $10,016,875</a>.</p> <h2><img width="180" height="180" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/doubleeagle.jpg" alt="" />3. The 1933 Double Eagle</h2> <p>It's a mistake to think that all of the most valuable coins are hundreds of years old. The Saint-Gaudens double eagle was minted just 81 years ago, and yet it remains one of the most prized coins for any wealthy collector. Only 445,500 of these coins were made, but never issued, and most were melted down after the discontinuation of the gold standard. That makes these coins extremely rare, and thus, highly desirable. Featuring lady Liberty and 1933 on one side, and an eagle with the words &quot;United States of America Twenty Dollars &mdash; In God We Trust&quot; on the reverse, this coin is worth a fortune. <a href="http://coins.about.com/od/famousrarecoinprofiles/p/1933_Gold_Eagle.htm">In 2002, one such coin sold for $7,590,020.</a> Not bad for $20.</p> <h2><img width="180" height="178" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/silverdollar.PNG" alt="" />4. The 1804 Silver Dollar</h2> <p>Also known as the Bowed Liberty Dollar, this is another extremely rare coin. In fact, only 15 are known to exist, ranging from Class I to Class III, and all have been accounted for. So if you ever see one of these 1804 Silver Dollars on your travels, be warned&hellip;it's fake. On one side is a Liberty head and 1804, on the reverse an eagle, shield, and &quot;United States of America &mdash; E Pluribus Unum.&quot; On August 20, 2013, <a href="http://www.ha.com/heritage-auctions-press-releases-and-news/-king-of-coins-1804-silver-dollar-sells-for-more-than-3.8-million-at-heritage-auctions.s?releaseId=2404">one of these coins sold for $3,877,500 at auction</a>.</p> <h2><img width="180" height="180" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/edward3florin.jpg" alt="" />5. The Edward III Florin</h2> <p>The first English coin on the list is yet another exceptionally rare find. And it's old, medieval in fact, <a href="http://www.fitzmuseum.cam.ac.uk/dept/coins/exhibitions/CoinOfTheMoment/doubleleopard/">dating back to 1344</a>. Only three of these coins are known to exist, and their original face value was just six shillings (<a href="http://www.pomian.demon.co.uk/coin.htm">72 pence</a>). But despite their age and scarcity, they are not in the same league as the American coins mentioned previously. In June of 2006, <a href="http://news.bbc.co.uk/2/hi/uk_news/england/5130666.stm">one of these coins sold for &pound;460,000</a> (over $1 million today), breaking all previous records for a British coin.</p> <h2><img width="180" height="175" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/libertyhead.png" alt="" />6. The 1913 Liberty Head Nickel</h2> <p>This is the Holy Grail of coins, and yet it's just a little nickel. It was the very first coin to <a href="http://web.archive.org/web/20070505183358/http://jeffersoncoinandbullion.com/article33.shtml">fetch over $1 million at auction</a>, and it is rumored that a Liberty Head nickel in perfect condition could fetch over $20,000,000 at auction. However, only five are known to exist in the world, two in museums and three in private collections. That does not mean there isn't a perfect coin out there, somewhere. Get your metal detectors out. If you find a coin <a href="http://en.wikipedia.org/wiki/File:1913_Eliasberg_Liberty_Head_Nickel.png">that looks like this</a>, take a deep breath and guard it well.</p> <h2><img width="180" height="180" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/halfeagle.jpg" alt="" />7. The 1822 Half Eagle</h2> <p>Only three of these 1822 $5 coins are known to exist in the world, from an original production number of almost 18,000. No doubt the gold was melted down and sold off in other forms. Two of the three coins are housed within the Smithsonian, <a href="http://www.anacs.com/(A(Urhnbrt0zwEkAAAANjgwZTM2OTQtZTRlYS00ZDllLWJlNzQtYTZlNTNmZDRkNmVhcEUks-gmX6HLqmC25bhwxFIE9_o1))/contentPages/ShowArticle.aspx?ID=17&amp;AspxAutoDetectCookieSupport=1">and the third was last sold at auction for $687,500</a> way back in 1982. If that coin were to reappear on the auction market today, it could fetch upwards of $5 million.</p> <h2><img width="180" height="183" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/elizabeth2million.jpg" alt="" />8. The 2007 Queen Elizabeth II</h2> <p>Less than 10 years old? Why is it in the top 10 list? Well, this is not a coin you could accidentally lose down the side of the sofa or through a hole in your pocket. <a href="http://www.mint.ca/store/mint/about-the-mint/million-dollar-coin-1600006#.U3qh1a1dVIU">This is 100kg (220lbs) of 99999 pure gold</a> bullion in one coin, giving it a face value in 2007 of a cool $1 million. You could purchase one of these from the Royal Canadian Mint, and five people actually had one made. In 2010, just three years later, one of these monstrous coins <a href="http://www.boston.com/news/world/europe/articles/2010/06/26/giant_gold_coin_sold_for_4_million/">sold for over $4 million at auction</a>.</p> <h2><img width="180" height="180" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/holeydollar.gif" alt="" />9. The 1813 Holey Dollar</h2> <p>One of Australia's very first coins, the rare &quot;<a href="http://www.coinworks.com.au/1813-Holey-Dollar-and-Dump.html">Holey Dollar&quot;</a> was created from a Spanish silver dollar in a process that made two coins from one. The larger coin with the hole in it had a value of five shillings, and the smaller coin punched out of the dollar was worth fifteen pence. They were withdrawn from circulation in 1826, and most were melted down and sold off as bullion silver. Butsome survived and are making it to auction. In 2013, <a href="http://www.smh.com.au/money/investing/valuable-hole-in-your-pocket-20130409-2hhu5.html">a Holey Dollar sold for $495,000 at auction</a>. If you should ever find one on your travels in Australia, hold on to it tight.</p> <h2><img width="180" height="180" align="right" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u784/onecentcopper.png" alt="" />10. The 1793 One-Cent Copper Coin</h2> <p>The date should be a clue to the value of this coin. A newly-independent United States of America began minting its own currency that year, and this little one-cent copper coin was one of the first coins in production. In January of 2012 the penny <a href="http://www.ibtimes.com/rare-1793-penny-sold-record-138-million-us-auction-392558">sold at auction for $1.38 million dollars</a>. Now that's a penny worth looking out for.</p> <p><em>What's the most precious coin in your collection (sentimental value counts, too!)? Please share in comments.</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/you-wont-believe-how-much-these-10-rare-coins-are-worth">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/where-are-they-now-the-forgotten-dollar-bills-and-coins">Where Are They Now? The Forgotten Dollar Bills (and Coins)</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-does-the-fannie-mae-and-freddie-mac-bailout-affect-you">How does the Fannie Mae and Freddie Mac bailout affect you?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-dumb-places-you-re-leaving-your-money">6 Dumb Places You’re Leaving Your Money</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-an-olympian-to-master-your-money">How to Think Like an Olympian to Master Your Money</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/chinese-money-habits-how-my-culture-influences-my-attitudes-toward-money">Chinese Money Habits - How My Culture Influences My Attitudes Toward Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance coins collectibles money weird money facts Tue, 03 Jun 2014 08:00:26 +0000 Paul Michael 1141294 at http://www.wisebread.com How Cleaning Your Wallet Benefits You Financially http://www.wisebread.com/how-cleaning-your-wallet-benefits-you-financially <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-cleaning-your-wallet-benefits-you-financially" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/costanza.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="188" /></a> </div> </div> </div> <p>It is not quite time for spring cleaning, but if you are a slightly disorganized person like me you may benefit financially by cleaning your wallet or purse.</p> <h3>Use Unspent Gift Cards</h3> <p>My husband was the first to clean his wallet since his wallet was getting extremely thick from the myriad of cards and receipts he keeps. After laying everything out he found that he had several gift cards with a positive balance on them. The gift cards totaled to almost $70 and he used them immediately to treat himself. I always encourage him to use gift cards as soon as possible so that the card values do not get deflated.</p> <h3>Lighten the Weight of Coins</h3> <p>When I cleaned my purse I found a bunch of receipts, and also a fairly large pile of coins. I routinely throw coins into my purse and it simply gets heavier and heavier. I am not sure how much money it came out to be, but it certainly lightened my purse quite a bit and it is now easier to carry.</p> <h3>Dispose of Expired and Unused Credit Cards</h3> <p>Both my husband and I cleaned out expired credit cards and ATM cards. This definitely reduces the confusion when we are searching for our credit and ATM cards and saves some time.</p> <h3>Organize for Taxes</h3> <p>If you have receipts in your wallet that need to be kept for filing your taxes, then it is a good idea to sort them out before they are lost. Receipts are also useful for flexible spending accounts.</p> <p>The bottom line is that it is definitely a good idea to keep your physical wallet or purse organized so that you do not have to clean out a bunch of junk. If your purse gets cluttered as quickly as mine, it is probably best to clean it on a routine schedule. That way you will avoid carrying around trash and use your money more efficiently.</p> <p>What was the best thing you found while cleaning your wallet?</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/xin-lu">Xin Lu</a> of <a href="http://www.wisebread.com/how-cleaning-your-wallet-benefits-you-financially">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/where-are-they-now-the-forgotten-dollar-bills-and-coins">Where Are They Now? The Forgotten Dollar Bills (and Coins)</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/you-wont-believe-how-much-these-10-rare-coins-are-worth">You Won&#039;t Believe How Much These 10 Rare Coins Are Worth</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/europe-has-the-euro-are-you-ready-for-the-amero">Europe has the Euro. Are you ready for The Amero?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-reasons-why-financial-planning-isnt-just-for-the-wealthy">6 Reasons Why Financial Planning Isn&#039;t Just for the Wealthy</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-reasons-taking-a-loan-for-your-wedding-is-a-bad-idea">3 Reasons Taking a Loan For Your Wedding Is a Bad Idea</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance cleaning coins wallet Fri, 15 Jan 2010 15:00:04 +0000 Xin Lu 4621 at http://www.wisebread.com Making Change Count http://www.wisebread.com/making-change-count <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/making-change-count" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/quarter.jpg" alt="quarter on counter" title="quarter on counter" class="imagecache imagecache-250w" width="240" height="180" /></a> </div> </div> </div> <p>I brought a bag filled with quarters to pay for my meal at an Italian restaurant recently. I’ve been taking an informal survey of merchants to see who welcomes my coins. Having received a cool reception from the cashier at a gas/convenience store, I modified my coin-paying technique; now I carry quarters in a plastic bag separate from dimes, nickels, and pennies to accelerate sales transactions. When I showed my bag to the restaurant cashier (also the hostess, waitress, and owner’s wife), I was amused and surprised at her gesture. </p> <p>She reached down and produced a stash of her own, all quarters in a plastic bag, just like mine. Apparently, her husband brings coins home but never, ever uses them. She described her attempts to corral them in one jar but loose change seemed to be wherever he emptied his pockets. Like me, she realized that most of the worth of the coins was in the quarters and they are easily counted and distributed, so they were bagged and stored for use in the very near future. I commiserated with her and then paid with my quarters. </p> <p>Someone might say that a restaurant or store has to take coins but that’s not true: <a href="http://www.moneyfactory.gov/document.cfm/18/110" title="http://www.moneyfactory.gov/document.cfm/18/110">a merchant can set the guidelines for methods of payment</a> (it is helpful, though, if these guidelines are equally applied to all patrons). </p> <p>Here are the best places that I’ve found to use coins: </p> <ul> <li>Restaurants with heavy lunch business (they are often thrilled to replenish their quarter supply)</li> <li>Vending machines, especially for snacks and stamps</li> <li>Guest fees at pools and fitness centers</li> <li>Bus fare</li> <li>Parking fees </li> <li>Tip jars (or add-ons to currency tips) </li> <li>Take a penny, give a penny containers</li> <li>Automated car washes</li> <li>Yard sales, bake sales, and <a href="http://parentingsquad.com/childrens-consignment-sale-clears-closet-yields-cash" title="http://parentingsquad.com/childrens-consignment-sale-clears-closet-yields-cash">children’s clothing consignment sales</a></li> <li>Self-service cashier stations at some grocery stores and home improvement stores (pay with coins first and then you can pay the balance with currency or a credit/debit card; if you go to the store at non-peak hours, then you won’t back up the line) </li> </ul> <p>What about the bank or <a href="http://www.coinstar.com/us/html/a-home" title="http://www.coinstar.com/us/html/a-home">Coinstar</a>? Many banks want you to roll your own (coins), make a deposit, and then let you know if their count equaled yours, at which time your account will be credited. Coinstar gives immediate feedback on the value of your coins but charges a fee unless you convert your money to a gift card or eCertificate. I learned yesterday, however, that my savings and loan does not charge its customers for coin counting. I’ll be hauling my stash via Tupperware or <a href="/garbage-into-gold-great-ways-to-recycle-old-containers" title="http://www.wisebread.com/garbage-into-gold-great-ways-to-recycle-old-containers">some other container</a> there soon. </p> <p>Do you have any great ideas for dealing with coins? Share them here.  </p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/julie-rains">Julie Rains</a> of <a href="http://www.wisebread.com/making-change-count">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-same-actions-will-produce-the-same-results-ten-tenets-for-arranging-your-rich-part-2">The Same Actions Will Produce The Same Results (Ten Tenets for Arranging Your Rich: Part 2)</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-less-awkward-ways-to-ask-a-friend-for-your-money-back">10 Less Awkward Ways to Ask a Friend for Your Money Back</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/12-fun-facts-about-valentines-day-spending">12 Fun Facts About Valentine&#039;s Day Spending</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-clever-ways-to-sample-the-good-life">8 Clever Ways to Sample the Good Life</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-times-its-ok-to-be-selfish-with-your-money">5 Times It&#039;s OK to Be &quot;Selfish&quot; With Your Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Life Hacks Budgeting change coins quarters Wed, 18 Jun 2008 19:49:36 +0000 Julie Rains 2183 at http://www.wisebread.com