Many experts have far from positive views of the economy for the current future we face as Americans. Popular tv economist on CNBC Marc Faber adds "the governments are taking over." He goes on to say that the current federal policies as it relates to money and the economy are not sustainable.
The great fear by many experts is that the Federal Government will continue to just keep printing money. A flood of more money entering the monetary system could cause "whole system breaks down" Faber adds. His comments on the current economic policies were last Thursday's program on CNBC.
"What I object to the current government intervention in so-called 'solving the crisis', (is that) they haven't solved anything. They've just postponed it."
Faber continues that the "ultimate armageddon" would be greater in scope the next it happens, as "governments will go bust", which would lead the Feds to just more money printing.
He continues to comment that China's growth rate is "completely unsustainable in the long run," talking about China which is the current fastest growing economy in the world.
Tuesday, August 31, 2010
Is Now a Good Time to Buy Gold
If you have listened to the radio or the news lately, you may be asking yourself if gold is a good buy for you. There are plenty of reason why now is a good time to buy gold. The final decision is yours though learning the keys to gold prices is the best way to make an informed decision.
Important to understand the difference between gold stocks called gold ETF's and physical gold. Admissions from companies that trade on the Comex that many of the transactions for gold ETF's are not backed by adequate amounts of physical gold are causes for concern. It is important for financial security for buying gold to be physical gold that you hold in your possession.
There are increasing skepticism over the United States actuall gold reserves. The reported position for the United States is 8,133 tons which is estimated to be worth just over $300 billion. There is no outside audit for the total the US holds which makes the amounts that individuals own more important.
Gold is in the midst of a steady bull market. It has increased in value each year for the last 9 years. If the present value of gold holds true for 2010 it will be 10 years in a row. This has all happen as many in the mainstream media has had negative comments towards gold.
An amazing aspect of gold's value is the fact that most of the mined gold in the world is accounted for. Gold has a great weight to value ratio making it easy to store in private possessions. The ability of gold to hold up against normal abuse makes its a great way to preserve wealth for the long term.
with an unclear economic future ahead for the next few years in America, the fundamentals for gold have many factors that have the ability to produce positive results. For better understanding if now is the best time for you to own gold contact a reputable gold brokerage firm for more information.
Important to understand the difference between gold stocks called gold ETF's and physical gold. Admissions from companies that trade on the Comex that many of the transactions for gold ETF's are not backed by adequate amounts of physical gold are causes for concern. It is important for financial security for buying gold to be physical gold that you hold in your possession.
There are increasing skepticism over the United States actuall gold reserves. The reported position for the United States is 8,133 tons which is estimated to be worth just over $300 billion. There is no outside audit for the total the US holds which makes the amounts that individuals own more important.
Gold is in the midst of a steady bull market. It has increased in value each year for the last 9 years. If the present value of gold holds true for 2010 it will be 10 years in a row. This has all happen as many in the mainstream media has had negative comments towards gold.
An amazing aspect of gold's value is the fact that most of the mined gold in the world is accounted for. Gold has a great weight to value ratio making it easy to store in private possessions. The ability of gold to hold up against normal abuse makes its a great way to preserve wealth for the long term.
with an unclear economic future ahead for the next few years in America, the fundamentals for gold have many factors that have the ability to produce positive results. For better understanding if now is the best time for you to own gold contact a reputable gold brokerage firm for more information.
Different Forms of Gold that have Value
Gold has many different factors that creates its value. There are those that own gold in the form of jewelry while others own it in the form of gold bars or coins.
Yellow gold which is the most common form of gold that you can find is often not 100% pure. Copper and silver are added to make it more durable as gold itself is a soft metal.
To create what is know as white gold, nickel or platinum are added. White gold is common in jewelry and has a greater expense than jewelry made with yellow gold on average.
Rose gold is another common form of gold used in jewelry and also typically carries a greater value than yellow gold. A combination of gold and copper gives it its reddish tint.
A key aspect to the value of gold is the purity. The purity of gold is often referred to in karat, as 24 karat is considered pure gold. A 22 karat gold watch would be 91.7% pure. Most jewelry is not 24 karat as the copper or silver are added to make the metal harder for daily use.
People also buy gold for the financial value. Gold is considered an asset more than a pure investment. Gold bullion is one of the most popular forms for holding gold in your portfolio. Common gold bullion is the American Gold Eagle, Canadian Gold Maple Leaf, and the South African Krugerrand. Gold bullion can be bought at different weights for each person's different buying needs.
Gold can also be purchased in what is called rare gold coins. Product of these gold coins was stopped in 1933 and have a scarcity factor to them that increases their value. Rare gold coins is considered a private position in gold which is beneficial for many people as a preservation of wealth. To greater understand the difference between gold bullion and rare gold coins it is best to contact a reputable gold brokerage firm for more answers.
Yellow gold which is the most common form of gold that you can find is often not 100% pure. Copper and silver are added to make it more durable as gold itself is a soft metal.
To create what is know as white gold, nickel or platinum are added. White gold is common in jewelry and has a greater expense than jewelry made with yellow gold on average.
Rose gold is another common form of gold used in jewelry and also typically carries a greater value than yellow gold. A combination of gold and copper gives it its reddish tint.
A key aspect to the value of gold is the purity. The purity of gold is often referred to in karat, as 24 karat is considered pure gold. A 22 karat gold watch would be 91.7% pure. Most jewelry is not 24 karat as the copper or silver are added to make the metal harder for daily use.
People also buy gold for the financial value. Gold is considered an asset more than a pure investment. Gold bullion is one of the most popular forms for holding gold in your portfolio. Common gold bullion is the American Gold Eagle, Canadian Gold Maple Leaf, and the South African Krugerrand. Gold bullion can be bought at different weights for each person's different buying needs.
Gold can also be purchased in what is called rare gold coins. Product of these gold coins was stopped in 1933 and have a scarcity factor to them that increases their value. Rare gold coins is considered a private position in gold which is beneficial for many people as a preservation of wealth. To greater understand the difference between gold bullion and rare gold coins it is best to contact a reputable gold brokerage firm for more answers.
Monday, August 30, 2010
Korea Feals Pressure to Add Gold to Foreign Exchange Reserves
According to BNP Paribas Asset Management, the Bank of Korea which has yet to start buying gold is under enormous pressure to start adding gold to its foreign exchange reserves.
The increase in pressure comes from other countries like India, Russia, and China who have bought gold as a defense for currencies reserves. Last year the head of Korea's reserve management unit though gold to be of little value though with uncertain times increasing for financial markets that opinion is changing fast. Currently, Korea is 56th on gold holdings in the work according to World Gold Council.
As signs of a financial recovery are looking more bleak, gold prices are continuing to stay strong near their record high. With falling prices in both the dollar and euro there are not many options for Korea that are not adding physical gold to their foreign exchange reserves.
On August 26th gold traded for $1,239.70 and is up for looks to be its 10 year in a row.
South Korea is the 6th largest foreign exchange reserve in thw world with only 0.03% of their $286 billion in gold. China, Japan, Russia, Taiwan, and India are the top 5 foreign exchange reserves in order. Estimates are that Korea's' gold position is the smallest percentage of any of the top 100 foreign exchange reserve holders.
With fears surfacing of a double dip recession, Goldman Sachs forecasted that gold may exceed $1,300 with in the next 6 months.
Other foreign exchange reserves like Russia added 50000 ounces of gold in the last month increasing their total to 23.3 million ounces.
The euro has lost 12% of its value to the dollar in 2010 which is another set of economic news sending investors and countries to gold. Gold coins have been used in theory as a safe haven as they have never had a value of zero.
The increase in pressure comes from other countries like India, Russia, and China who have bought gold as a defense for currencies reserves. Last year the head of Korea's reserve management unit though gold to be of little value though with uncertain times increasing for financial markets that opinion is changing fast. Currently, Korea is 56th on gold holdings in the work according to World Gold Council.
As signs of a financial recovery are looking more bleak, gold prices are continuing to stay strong near their record high. With falling prices in both the dollar and euro there are not many options for Korea that are not adding physical gold to their foreign exchange reserves.
On August 26th gold traded for $1,239.70 and is up for looks to be its 10 year in a row.
South Korea is the 6th largest foreign exchange reserve in thw world with only 0.03% of their $286 billion in gold. China, Japan, Russia, Taiwan, and India are the top 5 foreign exchange reserves in order. Estimates are that Korea's' gold position is the smallest percentage of any of the top 100 foreign exchange reserve holders.
With fears surfacing of a double dip recession, Goldman Sachs forecasted that gold may exceed $1,300 with in the next 6 months.
Other foreign exchange reserves like Russia added 50000 ounces of gold in the last month increasing their total to 23.3 million ounces.
The euro has lost 12% of its value to the dollar in 2010 which is another set of economic news sending investors and countries to gold. Gold coins have been used in theory as a safe haven as they have never had a value of zero.
Thursday, August 26, 2010
Gold Coin Sales Increased Across the Board Last Week
Slower numbers of numismatic gold coin sales have picked up over the last week. According to US Mint sales figures, gold coin buyers have increased sales across the board of numismatic rare gold coins. Also, figures show an increase over the last week in bullion sales as well.
The increase in demand for gold coins included First Spouse Gold Coins, Buffalo Gold proof coins, and Gold Eagles to name a few.
New into gold circulation the James Buchanan Presidential Dollars deputed to orders of 46,096 of the 2 coin rolls. The number is 2,024 lower than the Franklin Pierce debut. Though too early to tell, the James Buchanan $1 US Mint coin may end up being the lowest minted presidential coin.
The Platinum Eagles went on sale August 12th and by August 19th had reached their 10,000 limit. The Platinum Eagles coins were officially added to the US Mint sold out list on August 23rd.
The 2010 Platinum Eagles sold out faster than the last years mintage which took just over a week to sell out.
The increase in demand for gold coins included First Spouse Gold Coins, Buffalo Gold proof coins, and Gold Eagles to name a few.
New into gold circulation the James Buchanan Presidential Dollars deputed to orders of 46,096 of the 2 coin rolls. The number is 2,024 lower than the Franklin Pierce debut. Though too early to tell, the James Buchanan $1 US Mint coin may end up being the lowest minted presidential coin.
The Platinum Eagles went on sale August 12th and by August 19th had reached their 10,000 limit. The Platinum Eagles coins were officially added to the US Mint sold out list on August 23rd.
The 2010 Platinum Eagles sold out faster than the last years mintage which took just over a week to sell out.
Tuesday, August 17, 2010
US Mint Gold Coin Sales in 2010
The year 2010 is turning out to be yet another profitable year for US Mint gold coins. The demands for the coins are at levels last seen in 1999. In fact, the demand is at a level that is threatening to wipe out the gold reserve of the US Mint.
This increase in demand for gold bullion coins coincides with the decline in the value of the dollar. In early 2010, Reuters quoted US Mint spokesperson as saying, “Many investors, both retail and institutional, have sought gold as a safe-haven asset in times of economic uncertainty. Sales of the American Eagle coins increased by 214 percent in the month over April during a time when concerns about sovereign debt in the euro zone raised fears of a larger macro-economic effect.”
US Mint Gold Coins: Fact and Figures for May 2010
In May 2010, the sale of the coin broke all previous records of sales figure for a single month. Regarding this, a US Mint spokesperson said to Reuters, “In January 1999, the U.S. mint sold 208,500 gold 1-ounce coins, with only five other months exceeding May’s gold coin sales since the program was launched in 1986. While in 2010 the U.S. Mint has sold only 1-ounce gold coins, in past years it has sold other coin sizes as well. Comparing only American Eagle gold 1-ounce coins, the biggest monthly sale occurred in October 1986 with 609,500 coins sold.”
In May 2010, the US Mint managed to make record shipping of 190,000 one-ounce gold American Eagles. In June of the same year, the Mint introduced the 22-carat 2010 American Eagle Gold Bullion Fraction Coins and they too managed to attain a sales figure of 310,000 within the first five days of their production. These numbers, although high, fell short of the 2009 sales figure of 345,000 within the first day of going on sale.
This high demand has led to a temporary halt in the production of such coins by the Mint. The official website says, “Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins.” The reproduction will start once they have sufficient numbers of gold bullion blanks.
In August 2010, the US and Western Europe are still facing huge government budget deficits and investors are not showing much faith in the world’s major currencies.
This increase in demand for gold bullion coins coincides with the decline in the value of the dollar. In early 2010, Reuters quoted US Mint spokesperson as saying, “Many investors, both retail and institutional, have sought gold as a safe-haven asset in times of economic uncertainty. Sales of the American Eagle coins increased by 214 percent in the month over April during a time when concerns about sovereign debt in the euro zone raised fears of a larger macro-economic effect.”
US Mint Gold Coins: Fact and Figures for May 2010
In May 2010, the sale of the coin broke all previous records of sales figure for a single month. Regarding this, a US Mint spokesperson said to Reuters, “In January 1999, the U.S. mint sold 208,500 gold 1-ounce coins, with only five other months exceeding May’s gold coin sales since the program was launched in 1986. While in 2010 the U.S. Mint has sold only 1-ounce gold coins, in past years it has sold other coin sizes as well. Comparing only American Eagle gold 1-ounce coins, the biggest monthly sale occurred in October 1986 with 609,500 coins sold.”
In May 2010, the US Mint managed to make record shipping of 190,000 one-ounce gold American Eagles. In June of the same year, the Mint introduced the 22-carat 2010 American Eagle Gold Bullion Fraction Coins and they too managed to attain a sales figure of 310,000 within the first five days of their production. These numbers, although high, fell short of the 2009 sales figure of 345,000 within the first day of going on sale.
This high demand has led to a temporary halt in the production of such coins by the Mint. The official website says, “Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins.” The reproduction will start once they have sufficient numbers of gold bullion blanks.
In August 2010, the US and Western Europe are still facing huge government budget deficits and investors are not showing much faith in the world’s major currencies.
Friday, August 6, 2010
Liberty Gold Coins: A Walk Down Memory Lane
Liberty gold coins are one of the most recognizable coins in the United States. These coins were said to be the building blocks of America’s trade and industry in the 19th and 20th century. Liberty gold coins find a unique place in American history, along with the Great Depression, the likes of Ford, Durrant, Rockefeller, and the American Civil War. Liberty gold coins, in fact, witnessed the birth of industrial America well before Edison invented the light bulb, Bell invented the telephone, and Mark Twain wrote his classics. In the 21st century, Liberty gold coins have found favor with coin collectors, antique dealers, and Wall Street hotshots for their beauty, rarity, and rich historic value. Coins from the original 13 states, both south and north of the Mason-Dixon Line, come under the auctioneer’s hammer regularly.
Liberty Gold Coins: Types
Liberty gold coins were minted in the form of $20 gold coins, $10 gold coins, $5 gold coins, and $2.5 gold coins. Liberty’s production started during 1849 and finally wound up in 1907, but remained in business till 1933. Minted in Philadelphia, San Francisco and New Orleans, these gold coins adorned the collections of Iacocca, Du Pont, and even JFK.
The $20 gold coin, designed by James Longacre, featured Lady Liberty with the word “LIBERTY” inscribed on the bottom of the coin. Thirteen stars, representing the 13 states, encircled the Lady. The other side of the coin featured the American bald eagle with the words “UNITED STATES OF AMERICA” encircling it.
The $10 gold coin, designed by Christian Gobrecht, featured Lady Liberty with the word “LIBERTY” engraved on her coronet. The $10 coin was minted in 1838 and continued till 1907. The reverse side of the coin featured the bald eagle, with three arrows in its talons and perched on olive branches. The eagle was shielded by stars and stripes on its chest. These coins were minted in the Philadelphia and San Francisco mints. The Denver mint joined the bandwagon around 1906.
The $5 gold coins were authorized by the US Congress to be manufactured in the US Mint on April 2, 1792. This coin, also known as the “Half Eagle,” was minted in 1866 and continued till 1908. Struck at seven different American mints through its life, the coin featured Lady Liberty with the word “LIBERTY” engraved on her coronet and adorned by 13 starts that represented each of the 13 states. The reverse side of the coin was identical to the $10 coin with the words “UNITED STATES OF AMERICA” surrounding the eagle.
The $2.50 gold coins were similar to the $10 and $5 counterparts, expect that it was first minted at 1840. The Philly mint started the production and additional coins were struck at Charlotte, New Orleans and Dahlonega.
Liberty Gold Coins: Types
Liberty gold coins were minted in the form of $20 gold coins, $10 gold coins, $5 gold coins, and $2.5 gold coins. Liberty’s production started during 1849 and finally wound up in 1907, but remained in business till 1933. Minted in Philadelphia, San Francisco and New Orleans, these gold coins adorned the collections of Iacocca, Du Pont, and even JFK.
The $20 gold coin, designed by James Longacre, featured Lady Liberty with the word “LIBERTY” inscribed on the bottom of the coin. Thirteen stars, representing the 13 states, encircled the Lady. The other side of the coin featured the American bald eagle with the words “UNITED STATES OF AMERICA” encircling it.
The $10 gold coin, designed by Christian Gobrecht, featured Lady Liberty with the word “LIBERTY” engraved on her coronet. The $10 coin was minted in 1838 and continued till 1907. The reverse side of the coin featured the bald eagle, with three arrows in its talons and perched on olive branches. The eagle was shielded by stars and stripes on its chest. These coins were minted in the Philadelphia and San Francisco mints. The Denver mint joined the bandwagon around 1906.
The $5 gold coins were authorized by the US Congress to be manufactured in the US Mint on April 2, 1792. This coin, also known as the “Half Eagle,” was minted in 1866 and continued till 1908. Struck at seven different American mints through its life, the coin featured Lady Liberty with the word “LIBERTY” engraved on her coronet and adorned by 13 starts that represented each of the 13 states. The reverse side of the coin was identical to the $10 coin with the words “UNITED STATES OF AMERICA” surrounding the eagle.
The $2.50 gold coins were similar to the $10 and $5 counterparts, expect that it was first minted at 1840. The Philly mint started the production and additional coins were struck at Charlotte, New Orleans and Dahlonega.
Thursday, August 5, 2010
US Gold Mint: July 2010 Sees High Demand for the One Ounce Gold Eagles
The sale of US Gold Mint bullion coins continued at a high through July 2010. If considered individually, the demand for gold bullions saw a marked shift towards the one ounce coins. This tilt in demand seems to be the after-effect of the previous month’s initial popularity of fractional weight coins.
US Gold Mint: The Bullion Metal Options
July witnessed some new introductions in the US Gold Mint bullion collection:
Silver bullions: In the month of July, the US Gold Mint also offered the one ounce American Silver Eagle. This was the only silver bullion option. However, later in the year, a new five ounce series of silver bullion (whose design has been replicated from the National Park Quarters series) is expected to debut.
Gold bullions: The US Gold Mint offered the 22K American gold Eagle coins in different sizes:
• one ounce
• one-half ounce
• one-quarter ounce
• one-tenth ounce
The 24K American Gold Buffalo was brought out in just one size.
Platinum bullions: The US Gold Mint’s bullion lineup is yet to see the American Platinum Eagle. This coin has not been seen in the bullion format since 2008, but the US mint is all set to release it in August 2010. No price has been fixed on the coin as yet, although NumisMaster.com has speculated an approximately 30% mark-up from the present platinum price.
The following table summarizes the sales figures of the US Mint bullions till July 2010:
JULY 2010 BULLION COIN SALES
Coins July 2010 YTD 2010
American Gold Buffalo 1 oz 23, 000 183, 500
American Silver Eagle 1 oz 2, 981, 000 21, 149, 500
American Gold Eagle 1/10 oz 30, 000 310, 000
American Gold Eagle 1/4 oz 2, 000 46, 000
American Gold Eagle 1/2 oz 2, 000 33, 000
American Gold Eagle 1 oz 147, 500 766, 000
The overall gold bullion sales amounted to 175,000 ounces for the month July. Although this figure was 10,000 ounces lower than the previous month’s level, it was well above the 86,000oz sold during the same period last year. The sales mix shows a heavy inclination towards one ounce Gold Eagles. The rise in demand for the Gold eagles followed the heavy demand for fractional weight coins. For the month of July, the fractional weight gold coins accounted for 2.6% of the complete gold bullion sales, whereas in June, the same accounted for approximately 30% of the sales by weight.
US Gold Mint: The Bullion Metal Options
July witnessed some new introductions in the US Gold Mint bullion collection:
Silver bullions: In the month of July, the US Gold Mint also offered the one ounce American Silver Eagle. This was the only silver bullion option. However, later in the year, a new five ounce series of silver bullion (whose design has been replicated from the National Park Quarters series) is expected to debut.
Gold bullions: The US Gold Mint offered the 22K American gold Eagle coins in different sizes:
• one ounce
• one-half ounce
• one-quarter ounce
• one-tenth ounce
The 24K American Gold Buffalo was brought out in just one size.
Platinum bullions: The US Gold Mint’s bullion lineup is yet to see the American Platinum Eagle. This coin has not been seen in the bullion format since 2008, but the US mint is all set to release it in August 2010. No price has been fixed on the coin as yet, although NumisMaster.com has speculated an approximately 30% mark-up from the present platinum price.
The following table summarizes the sales figures of the US Mint bullions till July 2010:
JULY 2010 BULLION COIN SALES
Coins July 2010 YTD 2010
American Gold Buffalo 1 oz 23, 000 183, 500
American Silver Eagle 1 oz 2, 981, 000 21, 149, 500
American Gold Eagle 1/10 oz 30, 000 310, 000
American Gold Eagle 1/4 oz 2, 000 46, 000
American Gold Eagle 1/2 oz 2, 000 33, 000
American Gold Eagle 1 oz 147, 500 766, 000
The overall gold bullion sales amounted to 175,000 ounces for the month July. Although this figure was 10,000 ounces lower than the previous month’s level, it was well above the 86,000oz sold during the same period last year. The sales mix shows a heavy inclination towards one ounce Gold Eagles. The rise in demand for the Gold eagles followed the heavy demand for fractional weight coins. For the month of July, the fractional weight gold coins accounted for 2.6% of the complete gold bullion sales, whereas in June, the same accounted for approximately 30% of the sales by weight.
Know the Different Types of Gold Coins
Gold coins were used as currency in the olden times. However, their use as currency was put to an end after the period of the Great Depression, in Twentieth Century. At present, different types of gold coins are purchased by collectors and investors. Investors usually prefer bullion coins for investment purposes.
Major Types of Gold Coins
The two popular types of gold coins found across the world are:
American Gold Eagle
One of the most popular types of gold coins is the American Gold Eagle. This type of bullion coin was first produced in 1986, by the US Mint. Minted in 22-karat gold, these coins bear an image of Lady Liberty on one side and a Family of Eagles on the other side.
They are certified by the US government in terms of their weight, purity and content. The advantage of these coins is that they can be easily converted into cash. The American Gold Eagle coins can be bought in four different gradations:
• One-ounce with a face value of $ 50.
• Half-ounce with a face value of $25.
• Quarter-ounce with a $10 face value.
• Tenth-ounce with a face value of $5.
The elevated level of sales of the US Mint’s bullion gold coins continued till July 2010. The Sales figures of the US Mint’s American Gold Eagle coins for the month of July 2010 are as follows:
July 2010
American Gold Eagle 1/10 oz $30,000
American Gold Eagle 1/4 oz $2,000
American Gold Eagle 1/2 oz $2,000
American Gold Eagle 1 oz $147,500
Canadian Gold Maple Leaf
Another famous type of gold coin is the Canadian gold maple leaf. These gold coins were introduced in 1979 for the first time. The Canadian gold maple leaf coins are produced by the Royal Canadian Mint. These gold coins are formed of 99.99% pure gold. These coins feature the image of Great Britain's Queen Elizabeth II on one side. On the reverse side, they bear the image of Canada’s national symbol, the maple leaf. These coins are backed by the Canadian Government, for their purity and weight. The Canadian maple leaf coins can be purchased in following denominations:
• One ounce with 50 Canadian dollar face value.
• Half-ounce with 20 Canadian dollar face value.
• Quarter-ounce with 10 Canadian dollar face value.
• Tenth-ounce with 5 Canadian dollar face value.
The Royal Canadian Mint has issued an exciting new range of finely crafted gold coins in its third release of the 2010 collector products. The new coins include the 25-cent Birds of Canada and the 50-cent Lenticular Dinosaur Exhibit. Also, the half gram pure mint gold coin and 14 Karat ‘gold maple leaf’ have been introduced.
Major Types of Gold Coins
The two popular types of gold coins found across the world are:
American Gold Eagle
One of the most popular types of gold coins is the American Gold Eagle. This type of bullion coin was first produced in 1986, by the US Mint. Minted in 22-karat gold, these coins bear an image of Lady Liberty on one side and a Family of Eagles on the other side.
They are certified by the US government in terms of their weight, purity and content. The advantage of these coins is that they can be easily converted into cash. The American Gold Eagle coins can be bought in four different gradations:
• One-ounce with a face value of $ 50.
• Half-ounce with a face value of $25.
• Quarter-ounce with a $10 face value.
• Tenth-ounce with a face value of $5.
The elevated level of sales of the US Mint’s bullion gold coins continued till July 2010. The Sales figures of the US Mint’s American Gold Eagle coins for the month of July 2010 are as follows:
July 2010
American Gold Eagle 1/10 oz $30,000
American Gold Eagle 1/4 oz $2,000
American Gold Eagle 1/2 oz $2,000
American Gold Eagle 1 oz $147,500
Canadian Gold Maple Leaf
Another famous type of gold coin is the Canadian gold maple leaf. These gold coins were introduced in 1979 for the first time. The Canadian gold maple leaf coins are produced by the Royal Canadian Mint. These gold coins are formed of 99.99% pure gold. These coins feature the image of Great Britain's Queen Elizabeth II on one side. On the reverse side, they bear the image of Canada’s national symbol, the maple leaf. These coins are backed by the Canadian Government, for their purity and weight. The Canadian maple leaf coins can be purchased in following denominations:
• One ounce with 50 Canadian dollar face value.
• Half-ounce with 20 Canadian dollar face value.
• Quarter-ounce with 10 Canadian dollar face value.
• Tenth-ounce with 5 Canadian dollar face value.
The Royal Canadian Mint has issued an exciting new range of finely crafted gold coins in its third release of the 2010 collector products. The new coins include the 25-cent Birds of Canada and the 50-cent Lenticular Dinosaur Exhibit. Also, the half gram pure mint gold coin and 14 Karat ‘gold maple leaf’ have been introduced.
Things to Know About the 20 Saint Guadens Gold Coins
The 20 Saint Guadens gold coins are also popularly known as the Saint Gaudens Double Eagle or Double Eagle gold coins. These coins were issued by the US Mint from 1907 to 1933. The coins were designed by the acclaimed US sculptor, Augustus Saint-Gaudens. The coins bear the Saint-Gaudens mark, below the date.
The history of the 20 Saint Gaudens gold coins goes back to the 20th century. Saint Gaudens was hired by President Theodore Roosevelt to design coins for the American coinage. However, Saint Gaudens could only design the Double Eagle and the Indian Eagle gold coins before he died. These are considered as some of the most popular designs among hobbyists and collectors.
The value of these numismatic coins is decided by their state of deterioration. The coin’s condition is evaluated by the process of coin grading. The coin grading system evaluates a coin based on its surface, design, element, visible appeal and luster.
$20 Saint Gaudens Gold Coins: The High Relief
The term ‘High Relief’ is often used to describe these coins. Twenty four Proof Double Eagles Saint Gaudens were minted in 1907. These coins were made of 24-karat pure gold. Later on, 11,250, more High Relief $20 Saint Gaudens coins were issued and circulated. However, the images on the coins made them heavier and difficult to store. The original Saint Gaudens coins were then modified to produce a flatter version.
$20 Saint Gaudens Gold Coins of 1908
These $20 Saint Gaudens gold coins are famous because of the omission of the phrase ‘In God We Trust’. The phrase was also omitted from a few coins manufactured in 1907. This was done on the directions of President Roosevelt. The phrase was reintroduced in the Saint Gaudens coins minted in 1908.
The Last Saint Gaudens Gold Coins of 1933
In 1933, owning gold coins were declared illegal by the US government. This was done to stabilize the economy and stop the hoarding of gold currency during the Great Depression of 1939-1940. At this time, all gold coins were melted down. Two Double Eagle gold coins, which survived the melt down, were presented by the US Mint, to the U.S. National Numismatic Collection, at the Smithsonian Institute. These were the only two known legal specimens. However, in 1952, eight more 1933 Double Eagle gold coins were seized by the Secret Service. These coins were seized because they were thought to be stolen from the US Mint.
The history of the 20 Saint Gaudens gold coins goes back to the 20th century. Saint Gaudens was hired by President Theodore Roosevelt to design coins for the American coinage. However, Saint Gaudens could only design the Double Eagle and the Indian Eagle gold coins before he died. These are considered as some of the most popular designs among hobbyists and collectors.
The value of these numismatic coins is decided by their state of deterioration. The coin’s condition is evaluated by the process of coin grading. The coin grading system evaluates a coin based on its surface, design, element, visible appeal and luster.
$20 Saint Gaudens Gold Coins: The High Relief
The term ‘High Relief’ is often used to describe these coins. Twenty four Proof Double Eagles Saint Gaudens were minted in 1907. These coins were made of 24-karat pure gold. Later on, 11,250, more High Relief $20 Saint Gaudens coins were issued and circulated. However, the images on the coins made them heavier and difficult to store. The original Saint Gaudens coins were then modified to produce a flatter version.
$20 Saint Gaudens Gold Coins of 1908
These $20 Saint Gaudens gold coins are famous because of the omission of the phrase ‘In God We Trust’. The phrase was also omitted from a few coins manufactured in 1907. This was done on the directions of President Roosevelt. The phrase was reintroduced in the Saint Gaudens coins minted in 1908.
The Last Saint Gaudens Gold Coins of 1933
In 1933, owning gold coins were declared illegal by the US government. This was done to stabilize the economy and stop the hoarding of gold currency during the Great Depression of 1939-1940. At this time, all gold coins were melted down. Two Double Eagle gold coins, which survived the melt down, were presented by the US Mint, to the U.S. National Numismatic Collection, at the Smithsonian Institute. These were the only two known legal specimens. However, in 1952, eight more 1933 Double Eagle gold coins were seized by the Secret Service. These coins were seized because they were thought to be stolen from the US Mint.
Subscribe to:
Posts (Atom)
