Back in December 1904, three years after he took office, Theodore Roosevelt sent a famous letter to Treasury Secretary Leslie Shaw that ushered in a new age of American coinage.

There are some who believe the diamond we now call Koh-i-Noor (Mountain of Light) has been around for more than 5,000 years. Although there’s no proof of that, we can trace the enthralling history of this magnificent stone for certain from the 14^th century. It was then that the first mention of its curse appeared in a Hindu text: “He who owns this diamond will own the world, but will also know all its misfortunes. Only God, or a woman, can wear it with impunity.” 

Were you left uninspired by the latest necklaces you saw at your local boutiques? Are you looking for something different, something with a bit more character? Well, West Seattle Coins and Bellevue Rare Coins have an outstanding collection of heirloom and contemporary jewelry—handpicked from the items we’ve purchased locally or from jewelers across the country. In addition, many items are rare or one-of-a-kind pieces that come from the huge estate liquidations we’ve handled for over 30 years. 

Produced from one of the world’s largest gold mines in South Africa, the Krugerrand is the original and most recognized one-ounce gold bullion coin. First minted in 1967 from Rand Refinery, it was developed to internationally promote South African gold by making it easy for anybody to invest in gold. It’s been legal tender since it was created, which means that you can take your investment with you wherever you go—and sell it pretty much anywhere in the world for cash.

If you’re thinking about buying Krugerrands as an investment, here’s what you need to know about the most popular gold bullion coin in the world:

The word “bullion” may conjure up images of pirates pillaging treasure chests or the military patrolling the golden bunkers of Fort Knox — but bullion isn’t just for the criminal class and the government. In fact, buying bullion is a great way to diversify your portfolio and (often) realize a great rate of return.

How exactly do you buy bullion? Let’s start at the beginning.

A friend was recently cleaning out his family home’s basement when he came across a locked box that hadn’t been opened in perhaps decades. He dusted it off, turned the lock and was surprised to find it contained a cache of out-of-circulation coins: Liberty coins, Morgan silver dollars, Mercury dimes, Franklin half-dollars and more. Not knowing what some of these coins even were, let alone what they might be worth, he took them to a professional and had them appraised.

Gold is hot these days. Prices are reaching all-time highs, which is why it is a great time to sell the gold jewelry, collectable gold coins or gold bullion you’ve accumulated over the years. If you’ve decided to sell your gold and want to get the most for it, you need to understand how the gold evaluation process works. 

Get your gold tested

When you take your old jewelry to a gold buyer, the first thing they are going to do is determine the gold’s purity. They will refer to its purity in karats. The more karats in your piece, the higher the concentration of gold (and the higher the value). For example, 24 karat gold is close to 100% pure gold, while 18 karat gold is 75% gold and 25% other metals.

One way to test the purity of your gold employs electricity.  The most common evaluation tool a gold buyer might use is the acid test. When nitric acid comes into contact with copper — which all imitation gold jewelry contains — it turns the metal green. So, if the metal doesn’t turn green, it’s gold. Both are simple and effective tests that can be done in moments. 

Another method is called “fire assaying” and it is the gold standard in assessment. All the major refineries and gold mining companies use this method, but the process takes quite a while and requires specialized equipment.

The story of the U.S. penny begins back in 1787 when the first pure copper half-cent was designed by Benjamin Franklin and manufactured in a private mint. Back then, you could buy a nice plate of eggs and bacon with a few cents, but today a penny doesn’t get you much at all. If you’re like most Americans, you probably find yourself either leaving your pennies in the “penny dish” at the counter, or taking them home to drop in a jar that you periodically empty into a CoinStar machine.

You can’t go anywhere these days without hearing about what a great time it is to sell your gold. With the economy still struggling, more and more people are selling their gold for cash. And it’s true that at around $1,700 an ounce, gold prices are near record highs. But you need to be careful when selling your gold.

At West Seattle Coins and Bellevue Rare Coins, our certified numismatists have been evaluating gold since 1979. And we talk to people interested in selling gold every day.

Here are some simple tips you should consider before selling your gold to a gold buyer: