Money

Creative Ways To Sell A Coin Collection

Avid coin collectors don’t necessarily always hang onto their collections all their lives. Many collectors at some point consider selling at least part of their collection in order to make a profit. Whether you need some liquid cash to use as a down payment for a new home, to pay for exorbitant medical expenses, or to pay for your child’s college tuition, the money you stand to make by selling your valuable coins could be enough to cover such huge costs.

You may even want to sell some coins and use the proceeds to upgrade your collection. Whatever your reason for selling your coins, one thing is for certain – you want to ensure that you are getting the best possible price. The only way to do that is to do your homework beforehand, and follow a few crucial tips before handing over your prized possessions. Collectors routinely sell coins, and in every case, the fundamental method of getting top dollar for their coins is virtually the same. Follow these tips on how to sell collector coins to get the amount you deserve.

Know the Value of Your Coins

Many people often over-value or under-value their coins. Unfortunately, this mistake can prove to be costly when it comes time to sell them. You need to be able to put yourself at equal footing with a dealer in order to effectively negotiate on a price. It’s critical to have an accurate understanding of the wholesale value of your coins. The internet is filled with sites that have value charts of different types of coins to help you accurately estimate how much your coins are worth before you sell them.31coin.583

Have Your Coins Graded

By grading your coins, you can not only maximize their value, but you can also make them more appealing to collectors, dealers and investors since it comes with a guarantee of condition and authenticity. Lots of information is available to you, including auction prices, population data, and so forth.

Sell at the Right Time

Timing is one of the most important factors when it comes to getting the most for your coins, yet it is often underestimated, or forgotten about altogether. When you purchase a coin, it’s important that you are able to hang on to it until the time is right to sell in order to make a profit. Patience is crucial when it comes to selling at the right moment. Much like waiting for a seller’s market to sell your house and get the most profits from its sale, waiting until the value of your coins is high is best to get the most proceeds from the sale.

Sell to the Right Dealer

Although this may be much easier said than done, it’s crucial to deal with someone who is not looking to take you for a ride. Selling to the right person can mean that the potential buyer really wants the coin, and is willing to pay you top dollar for it. Selling directly to a dealer can mean that you don’t have to wait weeks or months to get the proceeds from the sale, which can often be the case when selling at an auction.

Pick the Right Coin

This is an important factor to consider before selling any of your coins. You can obviously buy whatever coin you choose, but for profit and investment purposes, it’s probably best to invest in coins that are going to be easier to sell for good money down the road.

The individual should also determine if the way to sell the coin collection is in pieces, with the different groups of coins being sold separately by type, or if the entire collection should be sold as one piece. Regardless, the individual must know what is in the collection so that the buyers can be informed and also so that he can determine if he is getting a fair offer on the collection.

In the different ways to sell the coin collection, there is almost always a need for the buyer to see pictures of the collection, so this is another step that must be taken. There are magnifiers that can help in the displaying of the coins for photographing them, as well as different lighting techniques that can help to display the coins to their best effect.


US Fed Rate – A Persisting Dilemma

dollar_1999092bFinancial pundits have been forecasting US Fed rate hike for quite sometime now. However, many internal and external factors have resisted the Federal Reserve from hiking it from the persisting 0.250 per cent. Though the market expected the fed rate to increase in September 2015, it didn’t because the central bank was worried about derailment of resurging U.S. growth due to instability in Chinese economy and economic slowdown. If the minutes of September 16-17 discussions by the board members of Federal Reserve are taken seriously, it might take 9 years to increase the concerned rate.

Why US Fed failed to increase Fed Rate in September 2015?

One of the reasons that restricted board of Federal Reserve from increasing Fed Rate in September 2015 is the dismal job growth data. Per official figures, in September 2015 just 142,000 jobs were added, which is 64,000 jobs lesser than analysts’ expectation. Another figure published by US Labor Department is the “zero” rise in average pay. More alarming is the fact that thousands of workers left their jobs and the participation rate of workers fell to a dismal low, last seen in 1970s. In fact, slow down in Chinese economy also held the board back from increase interest rate.

To top it, US Consumer prices fell by 0.2 per cent during September. In fact, inflation rate has been steadily falling since May 2015, signaling persistent sluggish pace of inflation. This persistent fall is exactly opposite of Fed’s stated target of 2 per cent. All these phenomenon including slowing economy of China, falling inflation (both globally as well as domestically), and market disruptions are again making it difficult for Federal Reserve to increase the interest rate, which is stuck to the current near-zero level (0.25 per cent) since 2008 (the year US economy was in deep recession).

What analysts are Predicting about Fed Rate Hike?

On the expectation of US Fed holding interest rate hike till 2015-end, gold buying is witnessing rally since mid-September. Strength of dollar is also weakening. US Dollar has fallen significantly with respect to other currencies such as Euro in the recent past. Last week, Euro was up against US Dollar by 2.3 per cent, which is a striking phenomenon as Euro fell sharply in the past touching a 12 years low earlier in 2015. These phenomenons gave overall market all the reasons to park its money in the yellow metal for hedging risk.

Colin Hamilton, head of commodities research at Macquarie, said that they conducted a poll in their base metals summit survey earlier this week and found out that most of the audience is expecting a Fed rate hike only after December 2015.

Gold_industryJessica Fung, analyst of metals and mining at BMO Capital Markets, said during a press meet that overall market is currently expecting Fed rate hike around March 2016. She went on to explain that expectation of US Dollar drive gold price and pricing of the futures market is indicating towards a steeper gold price rise in latter part of the year. The momentum of gold price hike is expected to go on along 2016. Along with this increase in price of yellow metal, interest rate increase is expected to be during March 2016.

 

Ref: http://www.global-rates.com/interest-rates/central-banks/central-bank-america/fed-interest-rate.aspx

http://www.reuters.com/article/2015/10/15/us-ecb-fed-idUSKCN0S906320151015

http://www.cbc.ca/news/business/fed-minutes-september-1.3263358

http://www.theguardian.com/business/2015/oct/02/us-economy-adds-only-142000-jobs-raising-doubts-about-interest-rate-rise

http://www.investordaily.com.au/markets/38362-fed-rate-hike-good-for-economy

http://www.cnbc.com/2015/10/15/gold-price-move-points-to-fed-rate-hike-in-2016.html

http://www.wsj.com/articles/u-s-consumer-prices-fall-0-2-in-september-1444912347

http://www.cnbc.com/2015/10/21/is-the-us-headed-for-negative-interest-rates-commentary.html

http://www.forbes.com/sites/samanthasharf/2015/10/21/ben-bernanke-fed-rate-hike-is-a-risk-management-decision/


Why Your Business Needs an EMV Card Reader Now

As retailers get ready for the 2015 holiday shopping season, six out of 10 Americans aren’t ready for the EMV liability shift set to go into effect on October 1, an ACI Worldwide survey reports. Two thirds don’t know the United States is switching over to EMV chip-enabled smart payment cards, and nearly three in five consumers who own credit cards have not yet received a new chip-enabled card. But by the end of the year, 71 percent of credit cards and 41 percent of debit cards will be using the new technology, explains the Smart Card Alliance. With Black Friday looming, the Better Business Bureau is warning business owners and financial providers that if you and your staff aren’t ready for the EMV liability shift, what you don’t know can hurt you.

Understanding the EMV Shift

As the Better Business Bureau explains, the shift to EMV technology aims to reduce the volume of credit card fraud. Credit fraud has doubled in the United States over the past seven years, in contrast to the U.K. where it has declined to its lowest level in 16 years since adopting EMV technology. EMV chips reduce fraud because a chip contains a code that is unique for each transaction and cannot be used to make a second purchase, whereas magnetic stripe cards use the same sensitive data each time. With EMV cards, the user inserts the front top part of the card with the chip into the reader instead of swiping or dipping it. At the beginning of this transition, EMV readers will still process cards with magnetic stripes for backwards compatibility, but, eventually, a complete shift to cards that process payments by tapping will occur.imagesfs

Consequences of Non-Compliance

The EMV technology shift comes with a legal and financial liability shift that is set to take effect on a timetable laid out by the major credit card companies, as summarized in a Verifone chart. Currently, when fraud occurs as a result of a card being stolen or counterfeited, the payment processor or issuing bank is responsible for losses to the consumer. After October 1, liability will shift to whichever party in the transaction is least EMV-compliant. For instance, for MasterCard, if at least 95 percent of transactions occur from EMV-compliant point of sale terminals, the merchant will be relieved of 100 percent of penalties for account data compromises. The shift will affect automated fuel dispensers used at gas stations later, not taking effect for these businesses until October 2017.

The implication of the shift is that your business can become liable for certain fraudulent card transactions that previously would have been covered by the bank or payment processor. For instance, if an individual who comes into your place of business uses a fraudulent card that only has a magnetic stripe to purchase $500 worth of items, you will not be held responsible for non-EMV compliance, but the bank or payment processor will remain liable, as under current practice. However, if an individual uses a chip-equipped stolen card in your store to purchase $500 of items, and you do not have equipment to read the chip, you will be liable for repaying the $500 loss to the card owner. When you consider that some credit card scams involve multiple stolen cards, sometimes used by rings of multiple individuals making many purchases at the same store or retail chain, you can see how this could get expensive for your business.

Preparing for the Transition

Visa has provided a detailed step-by-step guide for merchants to get ready for the EMV transition. Most of the steps involve carefully assembling a transition team and working with experts, such as your IT team and the bank or payment institution that processes your credit cards. One of your team’s major goals will be to select which point-of-sale equipment and software, PIN pad devices and EMV solution you will use. For instance, Sage Payment Solutions is an EMV-compliant debit and credit processing option that handles both mobile and point-of-sale purchases.

After selecting a solution that meets your company’s needs, Visa recommends that you develop an implementation plan and test your system first. Once your system is working, train your staff how to use the new payment processing method. Then, perform a pilot store or pilot register installation to gain some live experience on a small scale before rolling out on a large scale. This will give you a chance to debug, document your procedures and make adjustments to ensure everything is working correctly.

If your business hasn’t already switched to EMV card readers, you may be at risk of being liable for any fraud that occurs. Educate yourself on the process and be ready for the transition comes October 1.

Image credit: https://www.paymentplusinc.com/EMV.shtml


The Cost of a New Addition to the Family

Most people growing up dream of meeting their one true love, marrying, starting a family and living happily ever after. For some it happens and in later life they can sit back and think about the wonderful life they have had together. Sounds easy don’t it? Well it is important from the outset to stress that it isn’t; indeed there are few better words than ‘stressful’ to describe the periods that everyone goes through in life, especially if they find themselves in financial difficulties with no obvious solution to their problems.

Money Management

Money cans certainly a source of discord between couples; two people growing up in different environments may have a completely different view of money, its value and management. On the one hand some children are taught the value of money from a very early age and recognize the importance of not spending money that they cannot afford. Some grow up with a less disciplined view of money. The complacency that prevailed prior to the recession created an environment where easy credit produced a level of spending that was unrealistic. It soon became evident to all when the Collateralized Debt Obligation Crisis struck and misery followed.

Anyone making a decision will draw on experience; at least they should. The economic environment in recent years has resulted in many people having debts and more restrictions in obtaining credit. For a couple just starting out on married life and expecting their first child it is important that they look at their personal financial situation. Suddenly household costs may be about to rise just as their income falls; if a two income family suddenly loses one of those incomes money will inevitably become tighter. If both partners have always been careful with their money they are more likely to automatically plan for the future.

Credit Card Problems

Ordinary couples coming from a working background may not have a great deal of money to start their married life. In the USA statistics suggest that there is still considerable credit card debt, some that appears to be out of control. That debt is expensive. At the end of every month a high rate of interest is applied to a balance. Those who can only afford to pay the minimum required by the credit card company each month will hardly scratch the surface in reducing their debt and their credit card can easily become a burden. As a matter of urgency young couples should address any credit card debt, especially if they are expecting an addition to the family.5474213121_2dce5e59b3

Few are likely to have an equity in real estate if they have bought in the last few years. The recession hit the market badly and many people found themselves in negative equity; owing more money than the current value of the house. It means that re-mortgaging is rarely an alternative for obtaining the finance to settle debt. A mortgage is a sensible way to build up assets; in the medium to long term real estate should appreciate in value and mortgage interest rates are very competitive. However there are other loans that can play a positive role in a financial strategy. Personal loans have interest applied but it is far less than credit card holders are paying to their card companies.

Online Lenders

Modern day online lenders will look favorably at applicants who can show he or she has a regular monthly income and the ability to repay the monthly instalments on time for the whole term of the loan. Such loans used to pay off credit card debt will remove stubborn balances and ultimately result in a better financial picture. It is a simple and quick way to borrow money. Online applications require some basic information and decisions will be made extremely quickly; the funds are likely to be transferred within a single working day after approval.

Every young couple should have a budget and follow it. If one of the two has been fairly complacent about money in the past the other should definitely make sure it is an argument with only one winner. With a new addition of the horizon there may be economies to make, every day things like socializing and eating out may have to go. What must also be achieved is a manageable debt situation and credit card debt is rarely manageable. Pay it off and have the determination and self-discipline never to build it up again; a personal loan at a competitive interest rate is an excellent way to do it.


When Banks Don’t Play Fair With Your Money

If you’re like most people, you probably like to think you can trust your bank to help with your finances. All too often, though, we are seeing stories in the news of banks behaving badly.

One such story you may have read about is the Libor rigging scandal. That was when banks were found to be falsely inflating or deflating their rates so they could profit from trades.

That’s certainly bad enough. But a scandal far worse — both in terms of its scale and the affect it has had on individuals — is that of mis-selling payment protection insurance (PPI). As a result of the widespread mis-selling that occurred over the course of several decades, many people are looking for?help and advice in claiming back their premiums from mis-sold PPI.?

How This Might Affect You

One of the problems with the whole PPI scandal is that many of its victims aren’t even aware that they are victims. To put it into greater perspective, around 45 millions PPI policies were sold between 1990 and 2010. The premiums for those policies were worth around £44 billion ($67 billion) to the banks.Forex

The reason so many people are unaware they were duped is because one of the many ways in which PPI was routinely mis-sold was to tag it on without the customer’s knowledge. People applying for loans or mortgages were presented with the document to sign, unaware that a checkbox indicating that PPI was required had already been ticked.

The payment for the insurance policy was then added to the finance, which the customer paid on monthly basis without knowing about it. Quite often, the interest alone came to more than the actual PPI itself cost.

Why It’s Important To Claim Soon

Since the scandal exploded into mass awareness in April 2011, banks have already paid out around £25 billion ($38 billion) in refunds and compensation. Not surprisingly, they are keen to introduce a deadline for which claims can be made, which has so far been rejected.

The rejections are looking more and more tenuous as time goes on, though. George Osborne, the UKs chancellor, recently ousted the head man of financial regulator the Financial Conduct Authority (FCA). It’s widely known that Mr Osborne is keen to “draw a line” under the whole PPI mess. Ousting the regulator’s chief was the first step in

opening the door to a change of policy there.

While a deadline hasn’t been introduced yet, it’s really only a matter of time before it is.

Double Check Your Finance Agreements

As you read earlier, PPI was often tagged on without the customer’s knowledge or agreement. For this reason alone, it’s important that you double check your finances. If you find PPI that you weren’t previously aware of, there’s a good chance it was mis-sold.

While it’s impossible to say how much money you are entitled to get back, it’s worth keeping in mind that the average payout is around £2,750 (£4,200). If you have more than one policy that was mis-sold, you can claim on each one.

While not so common, there have been a number of refunds that have been in the tens-of-thousands of pounds. So get your paperwork out soon and start double checking.


Should You Save or Sell Your Valuable Heirlooms?

Gold_industryThis question tends to pop up at difficult times in life. It’s not uncommon to find yourself in possession of some odd goods when a friend or relative dies. And it’s at times like these that you might be ill-equipped to manage these goods, especially if you are feeling a lot of grief at the time. There are many considerations to make, and not all of them have to do with the precious metals exchange rate that applies to your situation.

This is because many of these items will have sentimental value in addition to monetary value. People might feel guilt for trading an item that reminds them of a lost loved one for cash. But this isn’t always the way to think about it. Death happens, and memories of loved ones should be afforded a certain place in your life. But it should also be compatible with how you live. If an item, such as a piece of furniture of a painting, can be loved and displayed in your home on its own merits, not just because it belonged to a loved one, it might be a good addition to your life, as well as an appropriate reminder of your loved one. But if the item doesn’t have any value to you other than it’s sentimental value, it isn’t appropriate to sell it after a certain amount of time. In most cases, the individual who passed it on to you would rather you have security and happiness than perpetual possession of the item in question.

That aside, let’s talk money. Oftentimes, people inherit items made of precious metals, like gold, jewelry, and coins. Because these items have no function in themselves, other than to serve as placeholders for wealth/value/buying power, it makes sense to sell them when they’ll command the highest price. But when is that? Do metals like gold always increase in value?

Well, not really. Gold, for instance, has something of an inverse relationship to the standard economy. If you look at charts of gold value, you’ll notice that gold tends to be in high demand when the US economy isn’t doing so good, and vice versa. This is because gold represents inherent value, while the economy is based largely on perceived value and good will. The economy works well when people spend money without much worry. When people are worried, they don’t spend money. Keeping gold is the epitome of “not spending money”, and it’s an example of people putting their trust in something they feel might have more staying power or foundation than a particular market.

So in general, I say buy gold when the market is good, sell it when it’s down. As you can see, this would’ve worked out to great effect if you bought a bunch of gold in the hot-economy days of the 90’s and kept it till the financial crunch of 2008. But because these things are impossible to predict, and because gold doesn’t have inherent factors which determine it’s value, I generally sell gold a lot more than I buy it. And that’s how I generally treat stuff if I’m ever in a position to inherit money or goods. A lot of top finance blogs agree.

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Talking “Money” and Loans: How difficult is that?

Admitting that we’re having cash flow problems is something that none of us like to do, especially to our closest friends and family. While our partners might be aware of the issues, because of it affecting them too, others might be completely unaware that we’re struggling for cash and that’s the real reason we’re turning down their suggestions to go for a meal or on a night out together.

Money is one of the most common causes of arguments between couples, with many marriages even ending over financial disagreements. While many tell us “it’s good to talk” and “a problem shared is a problem halved”, it’s easier said than done!

Nobody ever likes to have to ask to borrow money, not since the days when we were in the school canteen desperate for a sneaky bar of chocolate that our dinner money didn’t quite stretch to anyway.SunnyImage_Financewand(1)

As we get older, we develop that sense of pride that won’t let us ask for help. It’s very common and we all get that feeling from time to time where we’d rather do anything than ask to borrow a tenner from a friend or to ask our brothers, sisters or parents for a bit of money to cover the bills.

However, if it makes the difference between going into serious debt and getting that period of grace, then discussing our finances with those who love and care for us is the obvious solution, even if it’s a difficult conversation to have.

Talking things over with friends and family, getting their views and opinions, can actually help to come up with solutions to our problems, and one of those is something that you can actually work together on. Guarantor loans are an agreement between a lender and the borrower, which is also signed by another person, ensuring that the money gets paid back and there are a number of benefits to this form of lending.

  • The first reason for this is that while our friends and family might not be able to help us directly by lending us the money there and then, they can help by signing the agreement to cover the cost of the repayments if we can’t meet them – essentially verifying that we’re going to be able to pay the money back.

  • The second is that it is much safer than going to other lenders who charge high rates of interest and demand that payments are made even if you can’t make those repayments. A guarantor loan comes with a set of rules relating to what happens if you default on your agreement, and that usually means that the guarantor – your friend or relative – would help you out.

  • Finally, it’s the kind of loan that you can take out even if you have a poor credit history. While banks might turn you down for the loan, even if it’s only a few hundred pounds, guarantor loans are much more likely to be approved because you’re getting the backing and assistance of someone who might have a much better rating


Steps to Accurate Cash Forecasting

Accurate cash forecasting is a powerful tool for businesses. If you can predict how much money you will have on hand in the future, you can better plan new projects and make budgets. Follow these steps to develop a plan for accurate cash forecasts.

Begin by defining why you need cash forecasting and what questions you want to answer with your forecast. At the same time, identify useful data sources and sources of information. You should also evaluate existing cash forecasting tools and choose the best one for you, and make a schedule and decide how far in the future you want to forecast.

With the planning stage out of the way, create your forecast, consolidate the data and turn it into a report. Then, analyze the data and accuracy of your forecast. You can also test your forecast by inserting variables into the formula. Finally, regularly re-evaluate your forecast and fine tune it as necessary.

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The Great Financial Debate: How can Friends and Family help your Plight?

Finance

Ah, money troubles; arguably one of the few lifestyle factors that binds us all, regardless of social background or status. While the troubles in question may be relative and unique to each individual, we all experience situations where we struggle to balance saving with the cost of everyday living.

The latter point is particularly concerning, with only northern towns in the UK such as Blackburn reported to offer value to residents. Coping with the rising cost of living (which continues to increase exponentially and disproportionately to earnings in Britain) can be difficult, with many forced to live hand-to-mouth on a recurring, monthly basis.

How can Friends and Family help you with the Cost of Living?

In these instances, it can be difficult to know where to turn as an individual. After all, the payday loan sector has been much maligned in recent times, while less controversial alternatives such as Credit Union loans and others lack the presence to empower borrowers in making an informed decision. This is where friends and family can come into play, however, as they have the potential to provide unconditional support and financial assistance that comes without inflated interest rates.

The issue with this, however, is that most people are uncomfortable borrowing from family and loved ones. There is common sense behind this ethos, as while borrowing offers a chance to access low-cost loans it also places pressure on relationships and introduces an unwanted financial aspect to your friendship. If there are any subsequent issues and the money cannot be repaid as and when agreed, this can create tension and ultimately undermine even prosperous relationships.

Fortunately, there is a more balanced options available to potential borrowers. This is the option of guarantor loans, through which individuals borrow money from a traditional lender while asking a compliant friend or family members to sanction the agreement. While this creates some risk in that the associate in question must assume responsibility for the loan in the event that repayments are defaulted, it offers borrowers access to funds regardless of their credit history and at least means that money has not been taken directly from loved ones. Click here to find out more about guarantor loans and their precise function.

A Final Note

While no solution is perfect when it comes to borrowing money, there are some that offer more value than others. A guarantor loan provides a relevant case in point, and this is something that you should consider carefully before making a firm commitment. It may be a decision that helps you to strike the ideal balance between resolving financial issues and maintaining positive personal relationships.

 


Great Ways to Make Money From Home

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With the growing demands of money involved everywhere, one needs to be one step ahead to make the most out it. The month end salary is not enough to justify all the needs that one possesses. One has to earn something extra which can be used to fulfill the need. While some people might opt for jobs at a local subway,McD or any other restrochain, there are people who have started working from home as well. Many people across the globe have started working from home which allows them to earn a good amount as compared to other salary based jobs.

Below are discussed some of the great ways to make money from home:

Starting tuitions for the kids

  • Knowledge pays. In many cases knowledge pays off really well, suppose you know how the algebra and quants is used or have a deep insights about any other subject, starting tuitions can help you gain a decent amount at the end of the month. Kids are more in need of tuitions and parents often look for cheap and dependable individuals who can teach them, in fact only subject coaching is not what kids need , one can opt for guitar classes as well. There are additions to tuitions every now and then it’s just how many skills you possess will determine how much you can make at the end of the month.
The words How to Make Money on a chalkboard

The words How to Make Money From Home

Working as a freelancer

  • There are many people across the globe who says no to boss jobs, where there is a boss above them and they decide to deal directly with the person who wishes to get his job done. People around globe have switched in large numbers from private jobs to being a freelancer. Below here is discussed in detail about how to be a freelancer-

STEP 1-

  • Registering yourself on websites like the com can allow you to be a freelancer in no time. There are lakhs of people who have become a member of this website and on daily basis are getting work from the market. Some even say that they have clients as well which provide them work on daily basis. Won’t that be amazing if you wish to work from home? Working like a boss and being away from everything, is something which can be done very easily and is followed by few easy steps of registration!

STEP 2-

  • The second step on the website involves how many areas you are known to, that means what are your plus points and what fields you are known to. This will allow the person who wishes to get his work done, know you as well as contact you. With days, which will pass with one being engaged in the website you can come to know more about how to use it efficiently. Working like a boss from home and making money is not an easy task, however, sites like the freelancer.com make it much easier. Good luck!

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