Everyday ITM Trading is helping many people avoid gold coin rip offs. The price of gold has risen tremendously and with that comes the scams. There are ways to avoid them and protect you and your family.
Always do your homework on a company. Make sure it’s been around for at least 10 years if not more. There are many gold operations popping up just about everywhere.
Using the Internet and the BBB is a great way to start researching different businesses of interest. Read reviews from other customers. Remember some complaints are normal due to no company is perfect nor can they satisfy everybody.
Stay away from businesses that pressure you to send them money. These places are more than likely a scam and you will get nothing in return. Ask about upfront charges. Some businesses will hide their high fee charges. A reputable business will be honest and upfront.
Guarantees are another scam. A business that guarantees profits should be avoided or thoroughly researched. No one can predict what the gold market will do. Just because past performance has excelled, it still does not guarantee a profit for you.
Depending on a persons needs and goals is the determining factor of which gold product is best. There are different products to choose from but a person’s goals are the deciding factor.
If looking to sell your gold jewelry at a “cash for gold” store make sure you research the business and it’s history with other customers. The average payout is 50-65% of the spot price but some could try to pay you less.
Any questions or concerns can be answered by calling ITM Trading. We have been around for over 16 years and our knowledgeable staff is here to serve you.
Wednesday, December 14, 2011
Information About Gold Scams From ITM Trading
With so many gold scams out there in the market today you need help to protect yourself. ITM Trading is here to help you do that.
You want to do business with a company who’s been around for a few years. There are many new pop up companies arriving in cities nation wide. Doing research on a company can only benefit you.
Using the Internet and BBB for reviews, testimonies and complaints. There will be some complaints though cause not everyone can be happy and satisfied.
If a business tries to pressure you into sending them money you should avoid them. Many of these companies have hidden fees and charges and can hurt you in the long run. An honest company will be upfront on fees and charges.
Avoid off shore companies all together. Many scams have occurred with many of these overseas operations. It’s just wise to avoid these altogether.
No company can guarantee a profit. If they do it’s usually a scam. Nobody can determine what the market will bring. Take your time in choosing a company and again do your homework.
Every person has a different need. Therefore their goals will be different. Choosing what gold product works best for you all comes back to your needs and goals. You want what’s best for you in the long run.
Another company to be cautious with is “cash for gold” companies. Many people want to sell their old gold jewelry and want to get the highest payout. The average is 50-65% of the spot price but some may go as low as 40%. Again, do your research for the best possible payout.
Call ITM Trading to have all your questions answered. We have been around for more than 16 years and have an excellent rating with the BBB.
You want to do business with a company who’s been around for a few years. There are many new pop up companies arriving in cities nation wide. Doing research on a company can only benefit you.
Using the Internet and BBB for reviews, testimonies and complaints. There will be some complaints though cause not everyone can be happy and satisfied.
If a business tries to pressure you into sending them money you should avoid them. Many of these companies have hidden fees and charges and can hurt you in the long run. An honest company will be upfront on fees and charges.
Avoid off shore companies all together. Many scams have occurred with many of these overseas operations. It’s just wise to avoid these altogether.
No company can guarantee a profit. If they do it’s usually a scam. Nobody can determine what the market will bring. Take your time in choosing a company and again do your homework.
Every person has a different need. Therefore their goals will be different. Choosing what gold product works best for you all comes back to your needs and goals. You want what’s best for you in the long run.
Another company to be cautious with is “cash for gold” companies. Many people want to sell their old gold jewelry and want to get the highest payout. The average is 50-65% of the spot price but some may go as low as 40%. Again, do your research for the best possible payout.
Call ITM Trading to have all your questions answered. We have been around for more than 16 years and have an excellent rating with the BBB.
Wednesday, October 26, 2011
Return on Investment Grade Gold
If you have been a customer of ITM Trading for the past 10 years you have noticed a very nice return on investment grade gold. In the past decade Investment Grade Gold has brought a return of of over 300%. Bullion investors wishing to diversify their gold holdings for security, privacy and profit often begin with Investment Grade Gold (IGG) coins, a select category of relatively affordable Mint State rare coins. These coins have significantly outperformed gold bullion in the past and their value often increases when traded in complete sets. They typically trend with gold but usually in much higher multiples than bullion, and often peak after bullion gold does (this is not always the case as the markets are independent).
This can mean great returns when gold is high and the bull market for them runs longer. In addition to being a sound safe haven, rare gold coins, beautiful, educational and are national historic treasures. For more information on diversifing your gold portfolio contact a precious metals specalist at ITM trading and get all the information on investment grade gold coins.
This can mean great returns when gold is high and the bull market for them runs longer. In addition to being a sound safe haven, rare gold coins, beautiful, educational and are national historic treasures. For more information on diversifing your gold portfolio contact a precious metals specalist at ITM trading and get all the information on investment grade gold coins.
Monday, September 12, 2011
How the Gold Standard Came About
Wikipedia defines gold standard to be “the monetary system where the standard economic entity is measured in terms of a specific weight in gold”. Hence, the Gold Standard unit of currency is usually defined in reference to the precious metal.
Past Standard
There was no formal gold standard in the past although the Sir Isaac Newton did make an evaluation of gold and silver using his invented measurement system in 1717. Hence, many take that this kicked start the Gold Standard that was to be established. But it was only in the 1870s that there was an official Gold Standard.
With the establishment of an official Gold Standard, many governments began adopting this official gold standard for trading currency notes amongst themselves. The users of the Gold Standard view the standard as a contrast to the expansion of debt and credit. It is not possible for any government to generate arbitrary funds that are backed by gold unlike the fiat currencies of today.
Gold Standard Opposition
With a Gold Standard, it is not possible to create an artificial inflation through currency devaluation. Hence, the monetary authority’s credit is constant; there is no ‘currency uncertainty’ with more lending encouraged.
However, not all countries adopted the Gold Standard of the day; they manipulated the paper currencies which led to debt crises and currency depressions where the central banks manipulated the currency until inflation comes on.
One example of this occurrence was the 1819 panic in U.S. when the country’s second National Bank turned more towards paper-based currencies with opposing movements against the Gold Standard that was politically motivated. Hence, the Gold Standard started to lose its grip over many industrial nations and the international market. It was decided that the Gold Standard was dropped as a consequence of its lack of support and functionality in most nations with the emergence of fiat currency.
It was only the private institutions that continued with the digital gold currency and used accounted gold in grams as money form.
Rise of the Dollar
The US was on a gold standard for the most part from 1795 to 1971. In 1933 we were taken off of the gold standard domestically, meaning citizens could not exchange dollars for gold but countries still could. Then in 1971 Nixon removed the US from the gold standard for good, thus causing inflation to begin to rise dramatically. Since then the dollar has lost over 80% of its purchasing power.
Past Standard
There was no formal gold standard in the past although the Sir Isaac Newton did make an evaluation of gold and silver using his invented measurement system in 1717. Hence, many take that this kicked start the Gold Standard that was to be established. But it was only in the 1870s that there was an official Gold Standard.
With the establishment of an official Gold Standard, many governments began adopting this official gold standard for trading currency notes amongst themselves. The users of the Gold Standard view the standard as a contrast to the expansion of debt and credit. It is not possible for any government to generate arbitrary funds that are backed by gold unlike the fiat currencies of today.
Gold Standard Opposition
With a Gold Standard, it is not possible to create an artificial inflation through currency devaluation. Hence, the monetary authority’s credit is constant; there is no ‘currency uncertainty’ with more lending encouraged.
However, not all countries adopted the Gold Standard of the day; they manipulated the paper currencies which led to debt crises and currency depressions where the central banks manipulated the currency until inflation comes on.
One example of this occurrence was the 1819 panic in U.S. when the country’s second National Bank turned more towards paper-based currencies with opposing movements against the Gold Standard that was politically motivated. Hence, the Gold Standard started to lose its grip over many industrial nations and the international market. It was decided that the Gold Standard was dropped as a consequence of its lack of support and functionality in most nations with the emergence of fiat currency.
It was only the private institutions that continued with the digital gold currency and used accounted gold in grams as money form.
Rise of the Dollar
The US was on a gold standard for the most part from 1795 to 1971. In 1933 we were taken off of the gold standard domestically, meaning citizens could not exchange dollars for gold but countries still could. Then in 1971 Nixon removed the US from the gold standard for good, thus causing inflation to begin to rise dramatically. Since then the dollar has lost over 80% of its purchasing power.
Many Gold Options
Gold has been around since the dawn of time. Its value has been on the rise since a decade ago. This has caused many individuals to consider getting some for themselves as a portfolio diversifier.
Global Gold Markets
You can purchase gold from any of the valid gold markets available in the world today whether at night or in the day. The time zones have allowed this special feature to happen that causes gold to be traded around the clock although the top two gold markets are found in New York and London.
The oldest gold market is the London market which sets the ‘gold fix’ for the day at two times of the day; namely, one at 10:30am and the other fix at 3pm.
The second largest gold market, the New York market, is noted more for futures contracts. Other available gold markets are found in Zurich, Sydney, Hong Kong and Tokyo.
Gold can come in many forms depending on your purposes.
Bullion Coins and Bars
One way to own gold is through purchasing gold bullion bars of various sizes and weights. Gold bullion is most popular with small time gold buyers as it is the cheapest form of gold investment. An international refiner stamp on your gold bullion piece will make it more saleable.
Gold bullion coins are also very popular with gold coin collectors as they are actually a nation’s money with a guaranteed amount of gold in its content and not the coin’s face value. The actual worth of the gold piece is the amount of gold content with the gold price at that point in time.
There are different sizes of bullion coins representing different pure gold content. These are legal tenders that are guaranteed by their respective country of origin. These coins can be purchased or sold easily anywhere as there is always a ready market with the increasing gold prices today.
The more popular bullion gold coins include the American Eagle, the UK Britannia, the Australian Kangaroo, the Austrian Philharmonic coin, the South African Krugerrand and the Canadian Maple Leaf.
Gold bullion coins can appreciate in value very quickly as they have an artistic appeal with an intrinsic value. The different designs of the various gold bullion coins reflect the country’s beauty and symbol. They make good memorable gifts as they are portable and easy to store.
Hence, more and more individuals are purchasing bullion coins and bars for many reasons.
Global Gold Markets
You can purchase gold from any of the valid gold markets available in the world today whether at night or in the day. The time zones have allowed this special feature to happen that causes gold to be traded around the clock although the top two gold markets are found in New York and London.
The oldest gold market is the London market which sets the ‘gold fix’ for the day at two times of the day; namely, one at 10:30am and the other fix at 3pm.
The second largest gold market, the New York market, is noted more for futures contracts. Other available gold markets are found in Zurich, Sydney, Hong Kong and Tokyo.
Gold can come in many forms depending on your purposes.
Bullion Coins and Bars
One way to own gold is through purchasing gold bullion bars of various sizes and weights. Gold bullion is most popular with small time gold buyers as it is the cheapest form of gold investment. An international refiner stamp on your gold bullion piece will make it more saleable.
Gold bullion coins are also very popular with gold coin collectors as they are actually a nation’s money with a guaranteed amount of gold in its content and not the coin’s face value. The actual worth of the gold piece is the amount of gold content with the gold price at that point in time.
There are different sizes of bullion coins representing different pure gold content. These are legal tenders that are guaranteed by their respective country of origin. These coins can be purchased or sold easily anywhere as there is always a ready market with the increasing gold prices today.
The more popular bullion gold coins include the American Eagle, the UK Britannia, the Australian Kangaroo, the Austrian Philharmonic coin, the South African Krugerrand and the Canadian Maple Leaf.
Gold bullion coins can appreciate in value very quickly as they have an artistic appeal with an intrinsic value. The different designs of the various gold bullion coins reflect the country’s beauty and symbol. They make good memorable gifts as they are portable and easy to store.
Hence, more and more individuals are purchasing bullion coins and bars for many reasons.
Tuesday, August 16, 2011
French 20 Francs Angel
The French 20 Francs Angel coin is popular for its simple but extremely impressive design. On the front side of the coin we find the Angel Genius signing the French Constitution. The constitution is located on a tablet. The angel is standing on a pedestal. On the left side of the Angel is a pillar and on the right side is a rooster. On the top of the angel is written the word ‘Republique Francaise’.
On the back side of the coin we find the inscription ’20 FRANCS’ along with the year when the coin was minted. These inscriptions are engraved in the midst of a wreath. On the top of the wreath the word ‘LIBERTE EGALITE FRANTERNITE’ is engraved.
A legend of the angel:
According to historians, Augustine Durpre designed this coin in the year 1792. The name of the angel engraved on the coin is ‘Louis D’or’. For having engraved the angel on the coin, Durpre was punished and was to be beheaded. Interestingly, Durpre escaped the beheading by bribing the guard with a coin of the angel which he had in his pocket and perhaps the guard helped him to escape. Interestingly again, Napoleon Bonaparte carried this coin of the angel in his pocket and he lost the coin before the famous war of ‘Waterloo’ and from then on Napoleon saw the downfall of his empire.
French 20 Francs Angel gold coin is one of the coins which were in circulation for a considerably short period of time. It is believed that this coin was in circulation during the period 1899 to 1906. Prior to this, this coin was in use during the years 1848-1849. During the period earlier to 1848, gold coins were in fact being minted but they were without the image of the Angel. Even with the short period of circulation, the coin has made a name amongst the numismatists.
The French 20 Francs Angel coin has a gross weight of 6.4516 grams with 90% purity. This coin with a diameter of 12 mm has gold content of 0.1867 0z. Most of the European gold coins have high gold content and these coins are relatively small in size. This is true of French 20 Francs Angel also. It is easy to trade with small size coins and that is the reason why French 20 Francs Angel became a popular legal tender. On the other hand, these coins have historic value and are in great demand amongst numismatists.
On the back side of the coin we find the inscription ’20 FRANCS’ along with the year when the coin was minted. These inscriptions are engraved in the midst of a wreath. On the top of the wreath the word ‘LIBERTE EGALITE FRANTERNITE’ is engraved.
A legend of the angel:
According to historians, Augustine Durpre designed this coin in the year 1792. The name of the angel engraved on the coin is ‘Louis D’or’. For having engraved the angel on the coin, Durpre was punished and was to be beheaded. Interestingly, Durpre escaped the beheading by bribing the guard with a coin of the angel which he had in his pocket and perhaps the guard helped him to escape. Interestingly again, Napoleon Bonaparte carried this coin of the angel in his pocket and he lost the coin before the famous war of ‘Waterloo’ and from then on Napoleon saw the downfall of his empire.
French 20 Francs Angel gold coin is one of the coins which were in circulation for a considerably short period of time. It is believed that this coin was in circulation during the period 1899 to 1906. Prior to this, this coin was in use during the years 1848-1849. During the period earlier to 1848, gold coins were in fact being minted but they were without the image of the Angel. Even with the short period of circulation, the coin has made a name amongst the numismatists.
The French 20 Francs Angel coin has a gross weight of 6.4516 grams with 90% purity. This coin with a diameter of 12 mm has gold content of 0.1867 0z. Most of the European gold coins have high gold content and these coins are relatively small in size. This is true of French 20 Francs Angel also. It is easy to trade with small size coins and that is the reason why French 20 Francs Angel became a popular legal tender. On the other hand, these coins have historic value and are in great demand amongst numismatists.
Austrian 1000 Schilling
What more fitting commemoration can one imagine than minting a gold coin with a face value of Austrian 1000 Schilling? That was in the year 1976 when the Babenberg Dynasty of Austria crossed the 1000th year of the commencement of its dynasty.
The design of the coin:
The coin is beautifully designed by the renowned Martha Coufal Hartl with the Austrian Royal Eagle with a sickle and hammer in its talon. On the bottom of the eagle the face value of the coin, namely, Schilling 1000 is depicted. The word ‘Austrian Republic’ in Austrian language is written on the top of the eagle. Interestingly, while one side of the coin is designed by Martha Coufal Hartl, the other side of the coin is designed by Gertrude Simon, yet another renowned designer.
The side of the coin designed by Simon depicts a knight on horseback with a pennant in his hand. This is a commemoration of the Babenberg Dynasty perhaps in the early part of its dynasty. On the top of the knight is written ‘976 – 1976 EINSETZUNG DER BABENBERGER’ indicating the long travel this dynasty had in these 1000 years. History says that the Babenberg Dynasty ruled Austria during the period 976 to 1248 AD and later the House of Habsburg took over the reins of the country. The coin with 0.3906 troy ounce of gold has 90% purity.
Apart from this, the Austrian mint has also brought out other gold coins with Schilling 1000 face value with other distinct designs. It is also minting gold bullion coins weighing half ounce with Schilling 1000 face value.
What is unique about Austrian Gold and Bullion?
People prefer the Austrian Gold coins because they are a proof of purity (they are claimed to be 90% pure). Further, these coins are small in size and therefore easy to trade. According to the law prevailing, those who buy gold coins from European countries are not required to reveal their Social Security number. However, it is advised that those who want to claim tax rebate for purchase of these gold coins should consult their tax adviser and find out the applicability of tax law.
Legal position:
According to financial and legal experts, some countries have restrictions on the holding of these gold coins. For example, in USA, the Government can confiscate excess gold but the coins which have antique value are exempt from confiscation. Therefore, get the clear legal position on holding these gold coins from a competent authority.
The design of the coin:
The coin is beautifully designed by the renowned Martha Coufal Hartl with the Austrian Royal Eagle with a sickle and hammer in its talon. On the bottom of the eagle the face value of the coin, namely, Schilling 1000 is depicted. The word ‘Austrian Republic’ in Austrian language is written on the top of the eagle. Interestingly, while one side of the coin is designed by Martha Coufal Hartl, the other side of the coin is designed by Gertrude Simon, yet another renowned designer.
The side of the coin designed by Simon depicts a knight on horseback with a pennant in his hand. This is a commemoration of the Babenberg Dynasty perhaps in the early part of its dynasty. On the top of the knight is written ‘976 – 1976 EINSETZUNG DER BABENBERGER’ indicating the long travel this dynasty had in these 1000 years. History says that the Babenberg Dynasty ruled Austria during the period 976 to 1248 AD and later the House of Habsburg took over the reins of the country. The coin with 0.3906 troy ounce of gold has 90% purity.
Apart from this, the Austrian mint has also brought out other gold coins with Schilling 1000 face value with other distinct designs. It is also minting gold bullion coins weighing half ounce with Schilling 1000 face value.
What is unique about Austrian Gold and Bullion?
People prefer the Austrian Gold coins because they are a proof of purity (they are claimed to be 90% pure). Further, these coins are small in size and therefore easy to trade. According to the law prevailing, those who buy gold coins from European countries are not required to reveal their Social Security number. However, it is advised that those who want to claim tax rebate for purchase of these gold coins should consult their tax adviser and find out the applicability of tax law.
Legal position:
According to financial and legal experts, some countries have restrictions on the holding of these gold coins. For example, in USA, the Government can confiscate excess gold but the coins which have antique value are exempt from confiscation. Therefore, get the clear legal position on holding these gold coins from a competent authority.
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