Author Archives: Pat Heller

Revoke sales tax on coins, bullion

When Virginia’s sales and use tax exemption on bullion sales takes effect on July 1, it will be the 32nd state to have complete or partial exemptions on this kind of merchandise. The Virginia effort took less than a year.  … Continue reading

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Gold supplies won’t run out

A week ago, Eugene King, a Goldman Sachs European metals and mining analyst, wrote in a research note that the world has about 20 years each of minable reserves of gold, diamonds and zinc. He further stated that there were … Continue reading

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Bullion moves up on fears

Questions over the ability and willingness of the Greek government to repay its debts, when the Federal Open Market Committee might raise some benchmark interest rates, the expansion of military conflict in the Middle East and the change in determining … Continue reading

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Gold price swings ‘predictable’

Last week, I discussed two new developments in the numismatic and precious metals markets. I did not discuss the action of the precious metals prices before and after the Federal Open Market Committee post-meeting announcements last Wednesday afternoon. What happened … Continue reading

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London changes gold rules

There are two significant fresh developments to cover, one affecting the precious metals markets this coming Friday and the other announced over this past weekend that will potentially impact numismatic and precious metals transactions. First, on March 20 the London … Continue reading

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Indiana mulls sales tax exemption

Over the years, the Industry Council for Tangible Assets has had significant success at supporting efforts to enact sales and use tax exemptions for the retail sales of precious metals, rare coins and paper currency in several states. In the … Continue reading

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Need a job? Drop gold investigation

Late last week, The Wall Street Journal reported that the U.S. Department of Justice and the U.S. Commodity Futures Trading Commission (CFTC) had begun investigations of 10 major banks over the process of setting prices for gold, silver, platinum and … Continue reading

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Greek debt crisis will impact gold

The government of Greece owes more than 400 billion euros worth of debt to the European Central Bank and to major banks in Europe, the U.S. and elsewhere. There are no reasonable prospects that more than a tiny fraction of … Continue reading

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Will Uncle Sam get your IRA?

I have written a number of times that I expect the U.S. government will eventually take or somehow get control of all assets in private retirement accounts, including precious metals individual retirement accounts. The basic reason for this expectation is … Continue reading

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Gold wins 15-year asset race

Although the U.S. dollar has been one of the strongest assets over the past year, it doesn’t look quite so attractive if you look at a longer time frame. As many of you know, I write a monthly newsletter titled … Continue reading

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