Tag Archives: precious metals

Community Voice Responses (05/01/2012)

From the April 6th Numismatic News E-Newsletter: Will 2012 be the year of the collector coin and not bullion? Here are some answers sent from our e-newsletter readers to Editor, Dave Harper. Continue reading

Posted in Community Voice | Tagged gold, precious metals, silver | 1 Comment

ICTA Warns Dealers to Have AML Plan in Place

Are American coin dealers’ anti-money laundering plans written and up to snuff? They had better be, according to a new warning issued Feb. 21 by the Industry Council for Tangible Assets. Dealers risk immediate closure of their bank accounts if they are not. Continue reading

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Silver buyers go for American Eagle

Last month I listed the annual gold closing prices for the previous decade. Several readers asked about silver. Here are the December closing prices for silver. Continue reading

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Premium on MS-65 $20s lowest ever?

The German finance minister called Greece “a bottomless pit.” I think that quote can apply to over half of the Western World. Fiat currency has allowed many governments to create a huge international bottomless pit. Although precious metals are weaker at the moment because of the weakening euro versus the dollar, they are the only insurance for the individual. Continue reading

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Buyers trade up

There were some strange retail customer silver and gold bullion trading patterns at my store at the end of January and during the first three days of February. All week long it seemed like we were buying back U.S. gold American Eagles while other customers were purchasing large quantities of Canadian gold Maple Leaves. In silver, we purchased significant quantities of U.S. silver Eagles from the public, while buying demand was heavily skewed toward U.S. 90 percent silver coins. Continue reading

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Tax battle begins

The Industry Council for Tangible Assets issued an urgent call for dealer and collector action Feb. 8 to counter renewed efforts in Maryland to repeal the sales tax exemption that currently applies to transactions involving coins made of precious metals. Continue reading

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Silver rise may boost coin prices

On the last day of November, the Chinese Central Bank lowered the bank reserve requirement by 1/2 percent to allow its banks to lend more money. This is the first time the Chinese have eased money supply in over three years. Continue reading

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ICTA seminar set for FUN

The Industry Council for Tangible Assets will sponsor a seminar on anti-money laundering and cash reporting during the Florida United Numismatists January convention. The seminar will run from 11 a.m. to 12:30 p.m. Jan. 4 at the Orange County Convention Center in Orlando, site of the FUN show. Continue reading

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Buy palladium if you know what it is

Do you know what palladium is? I suppose I shouldn’t admit this, but I probably wouldn’t recognize it if you dropped some on my foot. From a coin collector’s experience, it is a fairly exotic metal. There are not many coins made of it. Continue reading

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Silver dollars make move higher

I am probably wrong, but it does seem like the precious metals sector wants and needs a major correction. In the past I have mentioned how tricky these markets can become. The metals will very often fake you out by appearing very strong one day and then falling out of bed the next morning. Yesterday was a perfect example: a new all-time high of $1,923.70 and at 4 a.m. today $1,804. You go to sleep kicking yourself for not buying more and wake up pondering why you did not sell into the higher market and believing Bernanke’s economist friends. Continue reading

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