ounce of gold

Collecting Gold Coins

Coin collecting is something that dates back to when coins were first issued for trade. It was only in the Middle Ages that people turned this into a hobby because of the art work and the historical value.

Coin collecting today is still a hobby that many people enjoy. One of the most precious and most expensive collections that anyone can ever have are gold coins. The most expensive gold coin ever bought was worth around eight million dollars. This was the American 1933 Gold Eagle. This is why the collecting of gold coins deserves to be called the hobby of kings.

Liberty Gold CoinGold coins were one of the oldest forms of money, later followed by silver coins. Gold coins were in circulation in the United States from 1838 to 1933. The design was the Liberty Head bust made until 1907. The design was then changed to the Indian Head and Saint Gaudens motifs and was used until 1933 when the Great Depression began. This prompted the recall of gold coins which makes them very difficult to find today.

Since these coins are no longer in circulation, the price for one of them can reach quite high. Gold is also now used for other things such as jewelry or bars that people retain as an investment.

South Africa minted its first gold coin called the Krugerrand in 1967. This coin has no face value but merely stands as a symbol. It is made of 1 ounce of gold and can be purchased for investment purposes.

Since then other countries also minted bullion coins. Canada made the Gold Maple Leaf in 1979 and Australia made the Nugget in 1981. These two are much more popular than the South African coin because of its 24 carat purity.
gold-eagle

The American Eagle gold bullion series debuted in 1986. The obverse was originally designed by Augustus Saint Gaudens for the 1907-1933 $20.00 U.S. Double Eagle. The reverse features a nest of American Eagles, signifying the strength and security of American families. Its stately appearance and proud symbolism make the Gold American Eagle one of the world’s most popular gold coins.

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A lot of people retain gold today as an investment because they speculate that the demand will cause its market value to increase. Others hold it as a form of insurance should the financial situation become worse. As more paper money is printed by the FED, each of those Federal Reserve Notes looses more of its value and the value of gold and silver soars. Since the U.S. closed its gold window in 1971, the FED has produced more and more paper currency without regard to the value of gold.

Some Things to Consider Regarding Silver Prices

You have probably heard that gold and silver is a hedge against inflation. These metals have been used as a store of wealth for about 6,000 years, but did you know that silver has some unusual qualities? Lots of people do not know it, but silver is necessary for most of the electronics, solar power panels, batteries, medical devices, and antibacterial applications used today.

Silver is an important metal because of its rarity, but it can also be used as an industrial metal as in the above list. Some have predicted that silver will become even more rare in the future and according to the USGS (United States Geological Society), could be gone by 2020.

Gold is a valuable metal too, but gold only acts as a store of wealth with very few industrial applications. So, why is silver such a terrific investment? When you consider the silver/gold ratio, silver is an absolute steal considering that historically it has taken about 15 ounces of silver to get a single ounce of gold. Right now that ratio reaches about 55 ounces of silver to an ounce of gold. So, the ratio is way out of whack and really should go lower.

Lots of experts say the silver to gold ratio ought to be about 10:1. In other words, there should be about 10 ounces of silver inside the ground for every ounce of gold. The ratio is now 55:1, which is only kept here by market manipulators. Once the manipulation ends, silver will skyrocket. Keep in mind the amount of silver used in industrial applications continues to increase every year due to the growing demand for electronics. China, India, and other nations who are industrializing are putting a huge demand on already stretched silver sector.

A lot of economists think that silver might go to around $100/ounce, and long term predictions by some pros put silver at $500 and even $1,000 per ounce. If you are wanting to retain your wealth during a historic period of inflation, now is the time.

The public is largely kept out in the dark with regards to these silver price predictions. Allot of folks who were called crazy 10 yrs ago for saying to buy silver are actually getting praised for it now. Not long ago, the silver price was around $4.00 and ounce, and it is now hovering around $30.00.

France Bans Cash Sales Of Gold & Silver Over $600

Central banks are presumably so frightened that a growing number of citizens are abandoning rapidly devaluing paper currencies and preserving their wealth through precious metals that governments are now cracking down on the anonymous purchase of gold and silver.

Following the Austrian government’s announcement that it was restricting the sales of precious metals to $20,000 a time, an amount which would purchase just 11 ounces, the French authorities have followed suit with an equally draconian new measure to deter people from buying gold and silver.

A recently amended French law states (translation), “Any transaction on the retail purchase of ferrous and non ferrous (metals) is made by crossed check, bank or postal transfer or by credit card, not the total amount of the transaction may not exceed a ceiling set by decree. Failure to comply with this requirement is punishable by a ticket for the fifth class,” going on to confirm that any amount over €450 euros or $600 US dollars “must be paid by bank transfer”.

“According to independent reports the law was passed to curb the illegal sale of stolen metals like copper, steel, etc. Given the rampant rise in thefts of these metals from telephone poles, construction sites and businesses here in the United States, we can certainly see this as a reasonable assessment for why the French passed this law,” writes Mark Slavo.

“However, the fact that no exception was made for gold and silver simply cannot be ignored. The new law effectively makes it illegal to purchase even a single Troy ounce of gold or around 18 ounces of silver in cash.”

$600 USD isn’t even enough to purchase a half ounce of gold. This guarantees that citizens who are trying to transfer their savings over to precious metals will be known to the authorities, leaving them vulnerable to government confiscation of their gold and silver later on down the line, as happened in 1933 under FDR.

Why are central banks and governments in Europe so eager to make it as difficult as possible for citizens to buy precious metals? It’s largely because unlike every other financial commodity, they don’t have the market completely under their control, and cannot tolerate the idea of people having true power over their own economic destiny.

Secondly it’s because the great foundation stone of the globalists’ plan to create a federalized European superstate and the template for a future world currency – the euro – is crumbling amidst the debt crisis that has engulfed the continent. With eurozone members already preparing to abandon the single currency, the last thing the EU wants to see is European citizens of key member states like France doing the same thing by exchanging their euros for gold and silver.

The bottom line is that the central banks which run the world don’t like the slaves owning anything that they can’t manipulate the value of – it undermines their power monopoly.

In a related development, the London Gold Exchange, an international digital currency trader which has over 100,000 members, announced today that it is “permanently closed for business” due to operational difficulties.

The LGE provided a service whereby it exchanged fiat money for digital currencies stored in online user accounts, including c-gold, Liberty Reserve, Pecunix and v-money.

Article written by Paul Joseph Watson
Infowars.com
Monday, September 26, 2011