Gold Bars & Rounds
News.co.au shares the premise of the new ‘Gold’ movie starring Matthew McConaughey…
Gold is the story of the biggest mining scam of all time, resulting in a $6 billion fraud.
…(three men) banded together in 1993 and emerged from the jungles of Borneo, declaring its soil to be full of gold. Without any due diligence, Wall Street poured money into the company, and Bre-X stock surged from pennies to $280 a share.
But there was just one problem: There was no gold…
“Gold ingots recovered from the SS Central America shipwreck took center stage as Heritage’s annual FUN auctions at the Florida United Numismatists (FUN) convention in Fort Lauderdale took place January 4-9. All told, the US coin auction raised in excess of $42 million for its consignors, with World Currency adding over $1.2 million, and US Currency, continuing through January 10, expected to total over $7 million.” CoinWeek.com
Stack’s Bowers Galleries is thrilled to share details of their forthcoming Stacks Bowers NYINC Auction of world coins, world paper money and ancient coins, held in conjunction with the prestigious New York International Numismatic Convention (NYINC). This event will be held January 12-14 2017 at the Waldorf Astoria Hotel in vibrant Midtown Manhattan in New York City.
The Ancient and World Coin Stacks Bowers NYINC Auction sale will be split between two days… Read the article for more details.
Examples: (screenshot 12/11/16)
Safe Collecting Supplies, Inc. posted an opinion piece about the affects of the election of President-Elect Trump….
“Gold, Gold, Gold”
“Last month’s political pendulum took an unexpectedly sharp right turn, and thus the economy has settled down in the forefront of many a shareholder’s mind. With stock markets rising to historic heights, the effects of a business-centric president-elect are already showing. For now they’re headed northbound, but the overall question we as a country should ask is, Will the spikes last?
In James Rickard’s new book, ‘The New Case for Gold’, he says…
They say John Maynard Keynes called gold a “barbarous relic.”
They say there isn’t enough gold to support finance and commerce.
They say the gold supply can’t increase fast enough to support world growth.
In this bold manifesto, bestselling author and economic commentator James Rickards steps forward to defend gold—as both an irreplaceable store of wealth and a standard for currency.
Global political instability and market volatility are on the rise. Gold, always a prudent asset to own, has become the single most important wealth preservation tool for banks and individuals alike. Rickards draws on historical case studies, monetary theory, and personal experience as an investor to argue that:
• The next financial collapse will be exponentially bigger than the panic of 2008.
• The time will come, sooner rather than later, when there will be panic buying and only central banks, hedge funds, and other big players will be able to buy any gold at all.
• It’s not too late to prepare ourselves as a nation: there’s always enough gold for a gold standard if we specify a stable, nondeflationary price.
Providing clear instructions on how much gold to buy and where to store it, the short, provocative argument in this book will change the way you look at this “barbarous relic” forever.
CoinUpdate.com elaborates on the book and on “The New Case for Gold and the Gold Standard”. Here is an excerpt of his Postscript:
“Postscript: Trump and Gold
President-elect Donald Trump expressed qualified support for the gold standard during the 2016 presidential campaign…
…He went on to explain that in his view, other countries have the gold, which appears to be in reference to the moves by China, Russia, and other nations in recent years to vastly expand their gold reserves and gold holdings…
…But after a momentary spike the night he was elected, gold then began a massive move downward that has continued to this day…
…It remains to be seen what economic and trade policies the Trump administration pursues and how those policies, and congressional action on that agenda, will end up impacting gold in 2017 and beyond. “
Learning about a hobby or anything is more fun when it is shared with a friend, family member or other. Learning about coins and money is no different. Lots of people learn about coins and coin history through coin clubs such as the Upper Cumberland Coin Club….
The club president, Dennis, “first got interested in coins when his grandmother showed him the thousands of pennies she had collected over the years. He picked up a book on coins and sorted through them for her.
“That’s how a majority of the older collectors get into them,” he said. “When the pennies went from the wheat pennies to the Lincoln Memorial in 1959, a lot of people started collecting pennies…
Both (he and Rich) are now encyclopedias of knowledge about coins from various countries and time periods. They can recite important dates — such as 1982, when pennies went from copper to zinc — or about 550 BC, when the Greek king who is credited with being the first to create gold coins.
“He was the richest person on earth at the time, but he had no way to tell how much he was worth,” White said. “So he ordered his gold and silver be stamped into coinage so he could count it. That’s where the saying ‘He has more money that Cresus’ came from.”
“A long time ago, people did not buy or sell with money. Instead they traded one thing for another to get what they wanted or needed. This exchange of goods or services is called barter. At the beginning this was sufficient, but with the evolution of societies, certain needs made the creation of a more stable and more efficient way of trading imperative. Many cultures around the world eventually developed the use of money whose value was based on the value of the material from which it was made…” http://www.ancient-origins.net
Gold coins and bars, however, continue to fetch fair price without discount. But growing uncertainty has reduced bullion demand. According to Prithviraj Kothari, Managing Director, RiddiSiddhi Bullions, jewellers are abstaining from fresh purchases probably on expectations of a price fall. “Consumers are cancelling orders that they had placed months ago to honour commitment for wedding gifts. Occasional buying from retail consumers has also remained on hold. The ongoing scenario might yield liquidity problems in the medium to long term,” said Kothari.