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November 11, 2014

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Gold Futures on the Rise

November 11, 2014 showed an increase in gold futures as the dollar weakened, reviving the appeal of the precious metal as an alternative investment.  According to Bloomberg News, the metals four year low is now increasing demand of investors, with Austria's mint sales showing a 40% increase over Octobers performance.

Silver as a gift

With the holiday approaching, consider giving the gift of silver. 

As a gift, silver comes in many collectible forms.  There are bullion pieces to commemorate many different hobbies, holidays, and areas of interest.  Silver also comes in many different shapes, such as rounds, ingots, and specialty pieces, such as the 1 ounce silver bullet featured on the NY Gold Center online gift shop.

Silver has shown a tremendous increase in value over the years.  In 1998, silver was trading at under $5.  Just 10 years later in 2008, silver was seen trading as high as $20.  In the last couple of years, silver has bounced around with the uncertain markets but does have the potential to be a long term winner according to many experts.  The logic is that silver is a consumable precious metal, with many commercial applications that will deplete the supply, making it rise in value.

One of the true benefits of giving silver as a gift is that it is an affordable way to save in small increments.  While most of us struggle with the idea of laying out $1300 for an ounce of gold, putting $25 of silver once a month into a dresser drawer is much more feasible. 

So when you can't think of the perfect gift, consider silver as an option for the friends and family in your life.

Check your change jar

In the early 1960's, Congress and the US Administration recognized that the silver supply for the nation's coinage was decreasing. Prior to 1965, US dimes, quarters, half dollars, or dollars were made of 90% silver. 

These coins are easily converted into cash based on the silver content in them.  Make sure you check your change jars to identify these coins.  Very often, people use change cashing services that will not recognize the value of these coins.  Based on the wide market swing, these coins can be worth between 8 and 15 times their face value.

There are also many foreign coins that contain silver.  The New York Gold Center offers a free service that will help you identify the true metal content within your coins.  Stop in today and earn.