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Margaret Ellison

Numismatics Editor

Margaret Ellison writes on the collector side of precious metals — where bullion ends and numismatics begins, the stories behind classic series, and what realized auction prices reveal.

Latest from Margaret Ellison

Silver Eagle Key Dates: When Bullion Turns Numismatic
Bullion vs. Numismatic Insight

Silver Eagle Key Dates: When Bullion Turns Numismatic

Most American Silver Eagles are worth the silver inside them plus a modest premium for being a coin the whole market recognizes on sight. That is the entire story for the overwhelming majority of the hundreds of millions struck since 1986, and there is nothing wrong with it. A one ounce government bullion coin is […]
Are Graded Bullion Coins Worth the Premium?
Bullion vs. Numismatic Insight

Are Graded Bullion Coins Worth the Premium?

Walk any bullion show or scroll any listing site and you will see the same coin twice. There is the plain American Silver Eagle, sold loose in a plastic flip, priced a hair above the value of its ounce of silver. Then there is the identical year and design sealed in a hard plastic holder, […]
Are Modern Commemorative Coins a Good Investment?
Bullion vs. Numismatic Insight

Are Modern Commemorative Coins a Good Investment?

Walk into any coin show and you will find a table of modern commemoratives, still in their original Mint boxes, priced barely above what the metal alone is worth. They are beautiful coins, struck to honor everything from national parks to civil rights pioneers, and they sit at the exact seam this desk cares about: […]
When Is a Modern Proof Set Worth Breaking Up?
Bullion vs. Numismatic Insight

When Is a Modern Proof Set Worth Breaking Up?

Every few years the same headline makes the rounds: someone buys a plain government proof set at an estate sale, pries it open, and finds a single coin worth more than a car. Those stories are true, but they are rare, and they distract from a more practical question most holders actually face. If you […]
Are Pre-1933 Gold Coins a Good Investment?
Bullion vs. Numismatic Insight

Are Pre-1933 Gold Coins a Good Investment?

A pre-1933 gold coin sits in an odd and appealing spot. It is real bullion, struck from the same metal that trades on the wire every morning, yet it also carries a design, a date, and a survival story that a modern round never will. That double identity is exactly what makes buyers ask whether […]
When a Bullion Coin Becomes a Collectible
Bullion vs. Numismatic Insight

When a Bullion Coin Becomes a Collectible

Two American Silver Eagles can sit side by side in the same case. Each holds one ounce of the same .999 fine silver, wears the same design, and carries the same one dollar face value. One sells for a small premium over its metal content. The other can bring the price of a used car. […]