If a bill sponsored by Colorado Sen. Kent Lambert, R, passes, it'll make Colorado the second state in the nation to recognize gold and silver as currency. Utah is the first and only state at this time to recognize gold and silver as a medium of exchange.
The growing movement of states to move in this direction is precipitated by the out of control spending of the Obama administration and the ongoing creation of money out of thin air by Ben Bernanke and the Federal Reserve.
That combination always ends up weakening the value of the U.S. dollar, or any currency where that is the standard practice of leaders of a country.
Along with the devaluation of the U.S. dollar, Senator Lambert also noted the growing public debt as a reason behind recognizing gold and silver as currency in the state.
Colorado is one of a dozen states in the U.S. to consider allowing gold and silver coins to be once again used as legal tender.
Showing posts with label Gold Coins. Show all posts
Showing posts with label Gold Coins. Show all posts
Tuesday, February 21, 2012
Friday, July 30, 2010
Poor GDP Report Pushes Gold Prices Up 1 Percent
While gold has been hobbling along throughout July, the lower than expected numbers of the GDP report caused it to surge in the last trading day of the month by 1.1 percent, reaching $1,183.90 an ounce on the COMEX division of the NYMEX for December delivery.
Even so, it still finished July down 5 percent, falling $62.68. Spot gold price increased to $1,180.97, rising $12.20. This was the worst month for gold since December.
Gold surged on the day because gold investors rushed to cover their short positions in response to the GDP numbers.
Nothing has changed in the fundamental reasons of why gold has continued to rise over the last decade, and that will continue on.
Even the government attacks on the alleged fear-mongering of those pushing gold coins over gold bullion won't deter the rise of gold. The government attack is to shut up the voices of those who rightfully point out the risks related to the governmental policies around the globe which have brought to the economic catastrophe we're now experiencing.
Using Glen Beck as a focal point and the gold company he works with to sell gold coins and bullion, the government is using a few complaints (assuming they're even legitimate) to make it look like the reason gold is going up is because of unwarranted use of fear to sell gold coins rather than gold bullion.
The idea is to make a connection between gold and fear in a way that makes it seem like a bunch of hype. Don't think this isn't being orchestrated, even if a few innocent dupes are being used by the government to attack people investing in gold, which is a daily reminder of the failed and irresponsible policies of the government and Federal Reserve.
Giving the advice to acquire gold coins rather than gold bullion has been one that has been offered by many advisers for years, and it will continue to be because it's much more portable and easier to hide than bullion. Of course how many people can even afford to buy gold bullion in the first place, making this even more suspect.
Anyway, back to the fundamentals. Gold will continue to rise because of the practices attempted to be hidden by the government and Federal Reserve of continuing to print money and "stimulate" the economy, the ongoing sovereign debt crisis in Europe, and increasing and dangerous government deficits which are becoming more risky by the day.
Investors have been caused to dangerously relax because of the so-called banks stress tests in Europe which made it appear as if the majority passed with flying colors, while experts said they were in reality a joke. Even Citigroup (NYSE:C) noted, of the banks tested, 24 should have failed rather than only the seven asserted to have failed.
Even the downgrade of Ireland's debt recently was shrugged off as irrelevant by investors, who seemingly have swallowed the kool-aid.
The economic condition of the United States is dismal, China is being forced to slow, and Europe is in shambles, yet nobody seems to have remembered these things.
Maybe the BP (NYSE:BP) fiasco temporarily got their attention off of the ball. But that is close to being over as far as permanently plugging the oil well goes, and people are getting interested in other things again.
The fact that gold moved nicely today on just missing the GDP numbers by a small amount, shows investors are looking for a reason to push prices up again, and I don't think it'll take that long before it happens.
Even so, it still finished July down 5 percent, falling $62.68. Spot gold price increased to $1,180.97, rising $12.20. This was the worst month for gold since December.
Gold surged on the day because gold investors rushed to cover their short positions in response to the GDP numbers.
Nothing has changed in the fundamental reasons of why gold has continued to rise over the last decade, and that will continue on.
Even the government attacks on the alleged fear-mongering of those pushing gold coins over gold bullion won't deter the rise of gold. The government attack is to shut up the voices of those who rightfully point out the risks related to the governmental policies around the globe which have brought to the economic catastrophe we're now experiencing.
Using Glen Beck as a focal point and the gold company he works with to sell gold coins and bullion, the government is using a few complaints (assuming they're even legitimate) to make it look like the reason gold is going up is because of unwarranted use of fear to sell gold coins rather than gold bullion.
The idea is to make a connection between gold and fear in a way that makes it seem like a bunch of hype. Don't think this isn't being orchestrated, even if a few innocent dupes are being used by the government to attack people investing in gold, which is a daily reminder of the failed and irresponsible policies of the government and Federal Reserve.
Giving the advice to acquire gold coins rather than gold bullion has been one that has been offered by many advisers for years, and it will continue to be because it's much more portable and easier to hide than bullion. Of course how many people can even afford to buy gold bullion in the first place, making this even more suspect.
Anyway, back to the fundamentals. Gold will continue to rise because of the practices attempted to be hidden by the government and Federal Reserve of continuing to print money and "stimulate" the economy, the ongoing sovereign debt crisis in Europe, and increasing and dangerous government deficits which are becoming more risky by the day.
Investors have been caused to dangerously relax because of the so-called banks stress tests in Europe which made it appear as if the majority passed with flying colors, while experts said they were in reality a joke. Even Citigroup (NYSE:C) noted, of the banks tested, 24 should have failed rather than only the seven asserted to have failed.
Even the downgrade of Ireland's debt recently was shrugged off as irrelevant by investors, who seemingly have swallowed the kool-aid.
The economic condition of the United States is dismal, China is being forced to slow, and Europe is in shambles, yet nobody seems to have remembered these things.
Maybe the BP (NYSE:BP) fiasco temporarily got their attention off of the ball. But that is close to being over as far as permanently plugging the oil well goes, and people are getting interested in other things again.
The fact that gold moved nicely today on just missing the GDP numbers by a small amount, shows investors are looking for a reason to push prices up again, and I don't think it'll take that long before it happens.
Thursday, July 22, 2010
Democrat Attack on Gold, Glenn Beck, Goldline Continues
After the Democrats snuck the provision for gold coin dealers to have to provide a 1099 for every investors they acquire over $600 in gold from, it was only a matter of time before the upped their attacks on the alternative investment and currency, and that has come in their ferocious and unwarranted attack on Glenn Beck and Goldline, through the investigation of alleged "sales tactics" which are evidently too aggressive for Democrats' tastes.
How this requires an investigation is so dubious you have to dig some before you find out that the person leading the probe of Beck and Goldline is an Obama campaign contributor - Adam Radinsky.
Another Democrat, of course from New York, Anthony Weiner, has been leading the questioning and assertions concerning Beck and Goldline.
What is the big deal about? This horrible company is encouraging customers to acquire gold coins rather than gold bullion. Really! That's it.
A tiny group of customers alleged they were "coaxed" into buying coins instead of bullion, which have been harder to sell at a profit. There's not one thing in the world someone couldn't say the same thing about, so this is a non-story created by the Democrats because of their hatred of Beck.
What company in the world doesn't attempt to sell their more profitable products, which gold coins definitely are. But bullion has a lot of risks, due to its size, and the fact of how much it would cost, which the average person obviously couldn't afford.
Gold coins are recommended, for the most part, by most in the gold industry, and their portability and lower costs are a major reason for that. How that gets turned into an investigation is beyond the scope of a healthy human being and the way they think.
Democrats, who own the health bill, also hid a provision to force gold coin dealers to have to provide a 1099 for each person they pay over $600 to for gold they acquire. That will devastate many of the small business owners dealing in gold because of the shear volume of paperwork required.
Gold continues to expose the policies of the governments and central banks around the world as crooked and devastating to the value of the currency. This is why they act stupid and clueless when people ask them questions as to why gold prices are going up.
How this requires an investigation is so dubious you have to dig some before you find out that the person leading the probe of Beck and Goldline is an Obama campaign contributor - Adam Radinsky.
Another Democrat, of course from New York, Anthony Weiner, has been leading the questioning and assertions concerning Beck and Goldline.
What is the big deal about? This horrible company is encouraging customers to acquire gold coins rather than gold bullion. Really! That's it.
A tiny group of customers alleged they were "coaxed" into buying coins instead of bullion, which have been harder to sell at a profit. There's not one thing in the world someone couldn't say the same thing about, so this is a non-story created by the Democrats because of their hatred of Beck.
What company in the world doesn't attempt to sell their more profitable products, which gold coins definitely are. But bullion has a lot of risks, due to its size, and the fact of how much it would cost, which the average person obviously couldn't afford.
Gold coins are recommended, for the most part, by most in the gold industry, and their portability and lower costs are a major reason for that. How that gets turned into an investigation is beyond the scope of a healthy human being and the way they think.
Democrats, who own the health bill, also hid a provision to force gold coin dealers to have to provide a 1099 for each person they pay over $600 to for gold they acquire. That will devastate many of the small business owners dealing in gold because of the shear volume of paperwork required.
Gold continues to expose the policies of the governments and central banks around the world as crooked and devastating to the value of the currency. This is why they act stupid and clueless when people ask them questions as to why gold prices are going up.
Sellers of Gold Coins Slammed by Sneaky Provision Added to Health Care Bill
Normally 1099 forms are used for those self-employed or contractors.
This will not only increase the price of gold coins, because of the added employees needed to perform the paperwork, but will be an additional tax to people selling their gold.
The Industry Council for Tangible Assets has come out against the outrage perpetuated on them by the Democrats and Obama, with ABC News reporting Diane Piret, industry affairs director of ICTA, saying this, "Coin dealers not only buy for their inventory from other dealers, but also with great frequency from the public. Most other types of businesses will have a limited number of suppliers from which they buy their goods and products for resale."
Piret added, that every time someone sells over $600 in gold to a dealer, they'll have to fill out the paperwork to report it to the government.
Some dealers point out they could fill out up to 20,000 forms a year just to comply with the new law. This would require additional employees to keep up with it.
Ultimately this cost will be passed on to customers.
The provison, scheduled to be implemented in 2012, is being opposed also by Rep. Daniel Lungren, R-Calif., who has introduced legislation to repeal that particular portion of the health care bill.
Sellers of gold could also experience a nightmare if they don't understand what's going on, and the gold is considered revenue, as federal and state taxes would have to be paid, and FICA taken out after the fact.
Even the IRS admits it could be a nightmare concerning the volume of paperwork which would increase.
Monday, June 28, 2010
How Peter Schiff is Investing in Gold
In a recent interview, Peter Schiff revealed how he has been investing in gold, along with some tips on what to avoid.
First of all, through his brokerage firm Euro Pacific Capital, he has been investing in physical gold for himself and his clients and storing it in Australia.
Concerning physical gold, Schiff recommends staying away from collectible gold like you see advertised on television a lot, as it's highly overpriced.
Schiff recommends buying real gold, and not a coin with only a little actual gold in it.
Finally, Schiff invests in a large number of mining stocks around the world, with many of them in the usual hot mining areas of Canada, Australia, South Africa and South America. He said he also has some in the United States, which among them, I presume, would be Newmont Mining (NYSE:NEM), which has been doing very well among the large gold mining companies.
First of all, through his brokerage firm Euro Pacific Capital, he has been investing in physical gold for himself and his clients and storing it in Australia.
Concerning physical gold, Schiff recommends staying away from collectible gold like you see advertised on television a lot, as it's highly overpriced.
Schiff recommends buying real gold, and not a coin with only a little actual gold in it.
Finally, Schiff invests in a large number of mining stocks around the world, with many of them in the usual hot mining areas of Canada, Australia, South Africa and South America. He said he also has some in the United States, which among them, I presume, would be Newmont Mining (NYSE:NEM), which has been doing very well among the large gold mining companies.
Largest Gold Coin in World Sold for over $4 Million
Credit: REUTERS/Heinz-Peter Bader
The largest gold coin was put on the auction block in Vienna on Friday, and sold for an astounding $4.02 million.
Acquiring the gold coin was Spanish precious metals trading company ORO, who bid on it unopposed. The coin weighs in at 220.5 pounds.
Investment firm AVW Invest had owned the coin, but was ordered to sell it by the administrator of the bankruptcy proceedings of the company, whose CEO and owner was arrested on a number of charges related to the company.
AVW owned the coin since 2007, which was struck by the Royal Canadian Mint, and one of only five in existence.
The coin is also 21 inches in diameter and is made of the purest gold on the market - 99.999 percent.
Tuesday, June 1, 2010
Will Gold ATMs Catch on?
As economic fears drive gold prices to new highs, the creator of a gold-dispensing ATM is attracting attention around the globe.
Germany-based GOLD to go, which is currently churning out 50 gold machines a month to meet a recent jump in demand, launched its first ATM in Abu Dhabi's Emirates Palace Hotel earlier this month and opened its second in Germany last week.
The golden ATM's next destinations are the Bergamo Airport in Milan, Italy, all major airports in Malaysia, one of Russia's biggest banks and an undetermined location in Turkey.
By making gold investing as easy as buying a candy bar from a vending machine, GOLD to go hopes to attract average buyers to the gold market.
"We are going to make gold public with these machines," said Thomas Geissler, CEO of Ex Oriente Lux AG, which owns GOLD to go. "The prices are so easy to control that we're going to de-mystify gold and make it easier for anyone to buy it."
GOLD to go's ATM looks like a vending machine and dispenses gold coins and bars weighing up to one ounce at prices updated every 10 minutes based on the real-time spot price of gold.
ATM-owners can choose from a variety of other gold items, such as gold Canadian maple leaf coins, South African Krugerrands, and even some custom designs. For example, the special edition gold medallion it engraved with the Palace Hotel's logo was created for the United Arab Emirate debut.
rest of story
Germany-based GOLD to go, which is currently churning out 50 gold machines a month to meet a recent jump in demand, launched its first ATM in Abu Dhabi's Emirates Palace Hotel earlier this month and opened its second in Germany last week.
The golden ATM's next destinations are the Bergamo Airport in Milan, Italy, all major airports in Malaysia, one of Russia's biggest banks and an undetermined location in Turkey.
By making gold investing as easy as buying a candy bar from a vending machine, GOLD to go hopes to attract average buyers to the gold market.
"We are going to make gold public with these machines," said Thomas Geissler, CEO of Ex Oriente Lux AG, which owns GOLD to go. "The prices are so easy to control that we're going to de-mystify gold and make it easier for anyone to buy it."
GOLD to go's ATM looks like a vending machine and dispenses gold coins and bars weighing up to one ounce at prices updated every 10 minutes based on the real-time spot price of gold.
ATM-owners can choose from a variety of other gold items, such as gold Canadian maple leaf coins, South African Krugerrands, and even some custom designs. For example, the special edition gold medallion it engraved with the Palace Hotel's logo was created for the United Arab Emirate debut.
rest of story
Tuesday, May 25, 2010
US Gold Coin Sales Explode
As confidence in paper currencies continue to wain, sales of gold coins in the U.S. has soared in May, already twice what it was in May 2009, with several more days to go before the month ends.
So far in May, 158,000 ounces of gold coins have sold in the U.S., according to the U.S. mint.
Gold coins aren't used primarily for investment purposes, but for an alternative currency for those who believe geopolitical events, or the debasing of the currency could render paper money worthless, or at minimum, of little value.
When news of the bailout of Greece was agreed to by German officials, the people of Germany bought up all the available physical gold they could, and there wasn't near enough to go around, and supply wasn't close to meeting demand.
Germany has experienced the failure of their currency in the past, and the people of Germany know it could happen again, the reason why they ordered or bought every coin available.
Gold coin demand will continue to soar, as there's nothing out there that will change the direction we're going, and politicians have committed to extraordinary debt and printing of money in order to keep their jobs at all costs, as the general public still doesn't realize what the endless bailouts, government debt, and printing of paper money is going to them in the long run.
That is slowly changing, and hopefully enough will learn to not only make it through this crisis, but to help change things forever.
At this time, all of us should have some gold coins put away somewhere in case of emergency, and it'll hold its value no matter what happens to the existing currencies.
Make your decision before it gets impossible to acquire gold coins. If things continue to get worse, it'll get harder and harder to get hold of gold coins, and a lot more expensive as well.
So far in May, 158,000 ounces of gold coins have sold in the U.S., according to the U.S. mint.
Gold coins aren't used primarily for investment purposes, but for an alternative currency for those who believe geopolitical events, or the debasing of the currency could render paper money worthless, or at minimum, of little value.
When news of the bailout of Greece was agreed to by German officials, the people of Germany bought up all the available physical gold they could, and there wasn't near enough to go around, and supply wasn't close to meeting demand.
Germany has experienced the failure of their currency in the past, and the people of Germany know it could happen again, the reason why they ordered or bought every coin available.
Gold coin demand will continue to soar, as there's nothing out there that will change the direction we're going, and politicians have committed to extraordinary debt and printing of money in order to keep their jobs at all costs, as the general public still doesn't realize what the endless bailouts, government debt, and printing of paper money is going to them in the long run.
That is slowly changing, and hopefully enough will learn to not only make it through this crisis, but to help change things forever.
At this time, all of us should have some gold coins put away somewhere in case of emergency, and it'll hold its value no matter what happens to the existing currencies.
Make your decision before it gets impossible to acquire gold coins. If things continue to get worse, it'll get harder and harder to get hold of gold coins, and a lot more expensive as well.
Tuesday, November 25, 2008
Where You Can Get Small Quantities of Gold Right Now!
Anyone buying physical gold knows how expensive it is, and also how difficult it is to find it at this time. Especially when you want to buy it in smaller quantities.
Daily Wealth mentions a couple places in Canada you can get it immediately, and at decent premiums.
Here's what they say:
"The Bank of Nova Scotia is one of the world's largest precious-metals dealers. If you go to the Hollis Street branch in Halifax, Nova Scotia, or the King Street West branch in Toronto, they'll sell you Canadian Maple Leaf coins at a 3.7% premium to spot and one-ounce wafers at a 2.6% premium to spot."
Daily Wealth mentions a couple places in Canada you can get it immediately, and at decent premiums.
Here's what they say:
"The Bank of Nova Scotia is one of the world's largest precious-metals dealers. If you go to the Hollis Street branch in Halifax, Nova Scotia, or the King Street West branch in Toronto, they'll sell you Canadian Maple Leaf coins at a 3.7% premium to spot and one-ounce wafers at a 2.6% premium to spot."
Friday, September 26, 2008
Royal Canadian Mint Says Ready for Gold Bullion Coin Demand
We talked yesterday about the inability of some gold products to keep up with the demand, as a number of coins are being suspended until production can catch up.
There's been a surge in the acquisition of physical gold coins as uncertainty in the financial sector has caused people to look for safety; not just investment safety, but an alternative currency in case things completely fall apart.
So even though the American Buffalo 24-karat gold one-ounce bullion coin has been suspended, the Royal Canadian Mint says it's not suspending its gold coin production at this time.
Coin dealers all across North America have reported a big surge in the demand for gold coins as the financial markets continue to flirt with disaster.
While the Royal Canadian Mint may eventually have to suspend some operations, they're in a much better position than their American counterparts because of the abundance of gold in Canada. That makes them less dependent on outside suppliers.
They control their mint from digging it out of the ground to striking the coins.
There's been a surge in the acquisition of physical gold coins as uncertainty in the financial sector has caused people to look for safety; not just investment safety, but an alternative currency in case things completely fall apart.
So even though the American Buffalo 24-karat gold one-ounce bullion coin has been suspended, the Royal Canadian Mint says it's not suspending its gold coin production at this time.
Coin dealers all across North America have reported a big surge in the demand for gold coins as the financial markets continue to flirt with disaster.
While the Royal Canadian Mint may eventually have to suspend some operations, they're in a much better position than their American counterparts because of the abundance of gold in Canada. That makes them less dependent on outside suppliers.
They control their mint from digging it out of the ground to striking the coins.
Thursday, September 25, 2008
Gold Bullion Dealers Say There's Shortage in Many Popular Bullion Products
Demand for gold bullion has resulted in a shortage in a number of popular products for bullion dealers. The shortage, which has been rumored for about a month, has now become a reality, although it's hopeful that it's temporary.
The shortage has had a significant impact on dealers, as some now have a lengthening waiting list. Some dealers who have policies of not taking orders for a product unless they have physical possession or guaranteed delivery from reliable sources of the metal have been hit especially hard.
To get an idea of the demand, most dealers have had about five times the usual orders in the last two weeks because of concerns over the faltering U.S. economy.
Some of the gold products not available at this time are the Pamp 1-ounce and 10-ounce gold bars; 5-9s special edition Maple Leaf; 1-ounce gold Eagles; and gold Buffalo coins. The U.S. mint is no longer taking orders for the Buffalo coin at this time. Gold Eagles are still being produced, but at such a slow rate that most retailers can't get hold of them.
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