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Gold Trading and Vaulting

April 19, 2011 by
global gold market

Gold markets have gained popularity all over the world as more central banks permit the trading and vaulting of the precious commodity. Many banks purchase this commodity from bullion banks or from mining companies and production areas where it is recycled. Most banks, however, would rather buy gold coins and bars from the global market. Depending on the bullion banks from which you decide to buy the gold bars, the weights which can be bought will differ. There are limitations when it comes to the minimum number of ounces of gold you can purchase but this depends entirely on the bullion … [Read more...]

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Demand for Gold

March 7, 2011 by
demand for gold

One of the main reasons for the intensive mining of gold is that it is a rare metal. As of today, this shiny yellow commodity exists only in a quantity of 165,000 metric tons. If all of it were put together, you would only get a pure 24K gold cube of 20 meters. Hence, the demand for buying gold rises globally. It is widely used in jewelry by many ethnic groups, with India and China taking the lead, with 60% of their gold used for jewelry. But other demands for gold are for investment, for central bank reserves and for technology. Each sector has different dynamics driving the demand for … [Read more...]

Filed Under: Gold Market, Gold Prices Tagged With: , ,

History of Gold

March 7, 2011 by
gold history

Gold has a glittering history since the ancient days. From gold flakes to gold bars, the ability to buy gold has come in many forms over the centuries. Some golden moments that make up its history are briefly recorded below: Around c.3600 BC – Gold was smelted by the Egyptians using blowpipes. 2600 BC - ancient Mesopotamian goldsmith crafted the first few pieces of gold jewelry. Between 1200 and 1500 BC, a new casting technique was developed; the so called lost-wax technique was used in the jewelry process to improve the hardness of gold, allowing color variations. 1223 BC - … [Read more...]

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Debt Denial

February 9, 2011 by
debt crisis

The recent astounding debt crisis is now beyond economics; it is more complicated now with figures casting an impending catastrophe. Moving on, the debt plague takes precedence over elections or policies, predicting hard outcomes. A time will come when the real debt is not affected by growth and taxes; it cannot be covered up easily. Debt comprises contingent liabilities and bonds; in the US, it is translated as social security, housing obligations and health-care which is costing the nation more than $60 trillion. This figure does not include state pension obligations that are unfunded but … [Read more...]

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The Story of the Double Eagle

February 9, 2011 by
american double eagle

The $20 Double Eagle gold coin is not familiar to most Americans; this coin was minted between 1850 and 1933. The Double Eagle was minted soon after California gold rush and supplanted the $10 gold coins, called the Eagle as the largest denomination. Smaller denominations like the $2.50 Quarter Eagle and the $5 Half Eagle were also minted. The $20 Double Eagle came on the scene in 1850 as a larger coin. When the U.S. Mint introduced a gold bullion coin program in 1986, the American Gold Eagle was a popular piece for collection. The gold bullion dollar denominations were no longer … [Read more...]

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U.N. calls for Dollar replacement from international standard

February 9, 2011 by
un_gold

The U.N. Department of Economic and Social Affairs commented in a recent report that the US dollar is unreliable to serve as an international currency; a more reliable and stable unit should replace the US dollar. This comment was brought forth after the fall of the US economy in the recent recession as the dollar was viewed with concern as the international trade currency. The UN report commented that the US dollar is not as stable as it needs to be as an international reserve currency. It was proven as an unstable storage of value that can affect international trade. A lot of … [Read more...]

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Buying Gold Coins: What You Should Know About Gold Prices

February 9, 2011 by
gold us dollar

The price of gold increased by 6% during the third quarter of 2010, as reported by US Mint. This surge stemmed from the increased demand of bullion gold and gold coin of 5% in September. The US dollar’s decline also boosted gold investment. Hedge funds also played a part in boosting the gold coins’ prices. It was suggested that the US Mint had trouble keeping up with the production of gold coins and bullion gold due to the increasing gold demand. The 24-karat American Gold Buffalo and the Canadian Gold Maple Leaf coins were the market’s favorite for the third quarter. Understanding … [Read more...]

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Status of the Popular US Mint Gold Coins

February 9, 2011 by
buffalo_gold_coins

The US Mint produced gold coins mainly for the country’s commercial market and trading. The US Mint was established when Congress enacted the 1792 Coinage Act, with its first issue of gold coins in 1795. Specifications of these gold coins change over time with the stock market, interest rates, supply and demand factors influencing their availability and pricing. 1 oz. Buffalo Gold Coins The American Gold Buffalo is one of the US gold coins whose demand exceeds its supply. Its popular 1oz. gold piece is not available from the US Mint with no track of its inventory. The American Gold … [Read more...]

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Numismatic Gold Coin Pricing Policies

January 10, 2011 by
gold pricing

With the increasing popularity of numismatic coins, the US Treasury took a step forward in setting a new price list for numismatic coins on 12 January 2009. The Deputy Director of the US Mint, Mr. Brunhart, commented the reason for the new pricing. The new pricing of numismatic coins are based on the catalysts of transparency, customer service and agility which allows the Treasury to adjust numismatic gold prices week by week depending on the value of gold. Pricing and policy Previously, the policy regarding numismatic coins was inflexible to buyers and sellers as it was compulsory for … [Read more...]

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Price of Numismatic Gold Coins Expected to be Reduced

January 10, 2011 by
us mint

A reduced pricing of the numismatic coins by the US Mint is expected sometime at the end of July 2010. A lowered price is linked to the recently lowered gold prices which will affect numismatic gold sales which include the Proof 2010 Gold Buffalo as well as on First Spouse coins with images of Sarah Polk, Jane Pierce, Margaret Taylor and Abigail Fillmore. Brief Introduction on Policies US Mint is now adopting the averaged London Fix as part of its new gold pricing measures. The pricing of the numismatic coins by the United States Mint covers minting, distribution and marketing costs.  … [Read more...]

Filed Under: Rare Gold Coins Tagged With: ,
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