All That Glitters Could Be Gold, But … by Peter Rexford on Creators.com

Recently

How to Destroy a Coin's Value in Mere Seconds It's so easy to date myself while writing this column. I suppose that's understandable considering the very topic of collectibles suggests something from the past. For instance, those who grew up in cities and larger towns may well remember the …Read more. Where the Glitter of Gold Is Tarnished If you're wearing anything gold take a look at it. Where did the metal come from? Sure, it came from in the earth, but where? With gold prices continuing to reach new heights, more and more people are scouring their drawers and old jewelry boxes to …Read more. Sometimes, Going to the Dogs Is a Good Thing We all know there are "dog people" and "cat people." On the rarest of occasions, someone can be both, but that's the exception. An old observation illustrates why. An owner of a dog will feed it, give it water, pet it and play …Read more. 'Owney' Comes in as No. 1 for 2011 A while back, a reader wrote about the new "Forever" stamps that will always be good for First Class postage. She wondered if because of them we would no longer have different postage stamps. I replied that not only will we continue to …Read more.

All That Glitters Could Be Gold, But …

Maybe it's the snow in 49 states that's gotten people to look through their collectibles and wonder about value. Time to answer a few reader questions.

Dear Peter: I'm interested in owning some gold and have seen promotions for some new commemorative gold coins. One is a British coin with images of Snoopy and Woodstock. I grew up with the cartoon, but I wonder if this would be a good investment in gold. — K.T. Silver Springs, Md.

Answer: Older gold commemorative coins dating back to the turn of the last century can be good investments because they have both numismatic/collector and precious metal value. I can't say the same for modern commemoratives. They may be eye-catching or feature sentimental subject matter, but the long-term investment value is iffy.

The coin you mention was struck for the British Virgin Islands. Yes, it's cute. But here's the thing: The coin contains pure gold yet weighs only 1/25 of an ounce. That's very small. More importantly, the cost of the coin in U.S. dollars is around $125 apiece. You would need 25 of them to equal one ounce. At that price, the total you would spend would be $3,125 plus shipping. With gold prices now around $1,100 an ounce that's pretty steep.

That's not to say if you're a big fan of the comic strip "Peanuts" you couldn't get one to put on a charm bracelet. You can enjoy how it looks, but just don't look at it as a shrewd investment.

Dear Peter: You have written about the collectibility of Pony Express letters. I have several in addition to one sent via Pacific Express Co. out of Sacramento, Calif. I have perhaps 100 letters I wish to sell. I would appreciate any information that you could share about doing so. — R.W.A. Cameron Park, Calif.

Answer: With this April being the 150th anniversary of the first Pony Express run, interest and demand for related memorabilia is sure to be high. Naturally, the few surviving envelopes that made any of the dangerous trips are sure to be tops on that list.

Understand that there are many surviving envelopes with Wells Fargo, Pacific Express or other markings.

They aren't as valuable. The envelopes with the private issued Pony Express stamps attached with cancels, which actually say "Pony Express," are the most sought after by collectors.

I suggest you visit a stamp dealer or library in your area to look at the "Scott's Specialized Postage Stamp Catalog." It has a chapter specifically dealing with Pony Express stamps and envelopes. You can determine what you have and get an idea of the values. After that, an auction might be the best avenue for sale. You can find several prominent national philatelic auctions on the Internet.

Dear Peter: I read your recent article and have the exact 25-cent paper money you discussed. I also have Confederate money. Can you tell me whether I have something of value? I'm on a fixed income and a nice windfall would be great. — J.A.T. Mt. Pleasant, Pa.

Answer: Your 25-cent paper money was printed during the Civil War when everyone hoarded coins for their metal content. People desperately needed change and the small-sized "fractional currency" (pun alert) fit the bill. Naturally, Southern states also needed their own currency, so they produced their own paper money.

All of what you have has fantastic historic and possible sentimental value depending on how you got it. As with most anything — be it a collectible or a car — condition is key to determine value.

From the photocopies of the bills you sent, they have clearly seen much better days. In fact, they are about as circulated as they can get. Of course, that's understandable. Remember that back in the 1860s, many people didn't carry wallets. They simply folded money and shoved it in their pockets. That's why so few pristine pieces survived.

For me, that makes your items more interesting. Your bills were actively used, carried and traded by people 150 years ago. That's a lot of history. Sadly, that doesn't help their value. The combined worth might be in the neighborhood of $30 or $40, which I'm sure isn't the windfall you were hoping for. That being said, if you have children or grandchildren, these would be great items to pass on to them as real pieces of history.

Editor's Note: A JPEG visual of the $10 "Peanuts" gold coin has been sent with this column.

To find out more about Peter Rexford and to read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.