By Louis Golino for CoinWeek ….. I often hear newer coin collectors and silver investors ask what is the best way to buy silver. There are certainly many ways to accumulate, or as some people put it, stack silver, in the physical form. For those looking to acquire physical silver, I think one has to begin with some […]
The post The Coin Analyst – What’s the Best Way to Invest in Silver? appeared first on CoinWeek.
A frequent question I am asked is what kind of buy/sell formulas for gold and silver my company might use if prices soar far above their current levels. An implicit question that is part of that is whether people would even be able to sell their precious metals at all.
Most, but not all, coin dealers are seek to make a profit margin, whether buying or selling
By Patrick A. Heller
Have you heard the adage of “be careful what you wish for as you may get it?” That certainly applies to people who purchase precious metals in anticipation of soaring prices.
If the prices of gold, silver, platinum, and palladium rise significantly, these moves would not occur in a vacuum
The Numismatic Literary Guild recently announced its 2020 award winners, the organization announced in an Aug. 18 statement. Respected researchers and award-winning numismatic authors Len Augsburger and Joel Orosz have received another prestigious award
By Patrick Heller
Virtually all Americans who have self-directed Precious Metals Individual Retirement Accounts (IRAs) have chosen the less expensive form of “unallocated storage” in vaults for their holdings in these IRAs.
As we learned during the bankruptcy of MF Global during the Great Recession, unallocated storage means you don’t own real gold and silver. In unallocated storage, you have a claim against the assets of the operator of the storage vault, who is the party who has title to the gold and silver that you think you own
By the middle of March, demand in the U.S. for physical precious metals, especially gold and silver, was so strong that retailer inventories were largely depleted
By Patrick Heller
In 2020, there has been another modest surge of interest of Americans wanting to own some physical precious metals, especially gold and silver. People are becoming more aware that governments’ inflation of the money supplies is almost certain to reduce the purchasing power of their fiat (paper) currencies.
There is any number of “experts” or “analysts” of precious metals who issue updates explaining what has happened in the markets and projecting what may happen
By Patrick Heller
With so many people today facing sudden financial hardships and possible time constraints, it may make sense to consider whether to pursue a pre-existing or new hobby.
This could apply to every hobby, not just numismatics.
Hobbies can involve a financial cost for references, memberships, supplies, and objects
By Patrick A. Heller
On Tuesday, March 24, two different bullion wholesalers told us that the London Bullion Market Association, the world’s largest gold market, was not delivering any gold to settle maturing contracts that had been called for delivery of the physical metal.
While this cessation of delivery was accurate, there were multiple possible explanations as to what occurred, each of which avoided terming the non-delivery of gold as a “default” by the exchange
If you look at the COMEX closes on March 24, the spot price of gold was about $1,585.00 and silver was about $14.23
For those of us who have seen volatile markets multiple times over the decades, it is entirely understandable that when the spot prices in the “paper” commodity markets suddenly plummet, the premiums for actual physical gold and silver coins and ingots can soar.
To give one example: At the COMEX close on March 11, 2020, with the spot price of silver at $16.78, the company where I work was selling $1,000 face value bags of U
By Patrick Heller
The main reason why I advocate that people should own some bullion-priced physical gold and silver coins and ingots as part of their investment portfolio or net worth is to serve as a form of “wealth insurance” against declines in the value of paper assets such as stocks, bonds, and paper currencies.
The financial turbulence of the past few weeks shows perfectly why I make such a recommendation. In an analysis I did of the changes in paper asset values against an ounce of gold for the four weeks ended March 10, 2020, every single paper currency and stock index I track had declined against gold
Repeal attempt fails in committee after opposition by Whitman Expos, ICTA, Visit Baltimore
The Maryland House of Delegates’ Ways and Means Committee stopped a proposed repeal to the state sales tax exemption for certain coin and bullion sales on Wednesday, March 11, 2020. The committee’s Unfavorable Report on House Bill (HB) 1284 came after opposition from Whitman Coin & Collectibles Expo, the Industry Council for Tangible Assets, and Visit Baltimore
In recent years, state, county, and local governments were finally required to include on their financial statements the net present value of unfunded liabilities for employee pensions and retiree health care and other retirement benefits. Michigan’s state government now discloses, for example, that it owes more than $60 billion in debt and liabilities, although these numbers are masked by spreading this information over multiple financial reports.
As a result, governments have become more aggressive at seeking additional ways to raise revenues
By Patrick Heller
As most experienced collectors know, the published data on “wholesale” prices are not necessarily accurate. At any time, my experience is that some coins and currency trade at a premium to these figures while others clear the market at significant discounts.
When new editions of A Guide Book Of United States Coins (popularly called The Redbook) appear, it is not unusual for some dealers to advertise a list of coins that they will purchase at or above the “retail selling prices” featured in this catalog
By Patrick Heller
Last week, I returned from a brief vacation in Panama. I did not have to change my U.S
By Patrick Heller
As explained during the Industry Council for Tangible Assets meetings at the Florida United Numismatists convention in Orlando earlier this month, dozens to hundreds of coin dealers are now facing requirements to register with state treasury departments outside of their home state.
These new registration requirements are the result of recently enacted legislation and regulations issued by most states as a result of the June 2018 South Dakota v. Wayfair Supreme Court decision
By Patrick A. Heller
The price of gold closed on the New York COMEX at $1,519.50 on December 31, 2019
by Patrick A. Heller
Last week, the World Gold Council released a different survey on the retail gold market. A total of 18,000 people were surveyed, 2,000 investors each in Canada, China, Germany, India, Russia, and the United States and 2,000 jewelry buyers each in China, India, and the U
No one knows for certain how the concept of “money” originated. There have been various theories posited over the centuries. The idea that I find most sensible is money was created as a means for paying mercenaries, soldiers from one land who were paid to fight for leaders of another land
Most Americans are so accustomed to spending U.S. government paper currency today that they probably assume it has always been that way in this country
From the New York COMEX closes on Dec. 28, 2018, to Sept. 3, 2019, the price of gold jumped 20
All business owners–including coin dealers–should get ready for the government paperwork nightmare resulting from last year’s Supreme Court decision in South Dakota v. Wayfair.
State governments are on the verge of notifying out of state businesses of the possibility that they may need to register to collect that state’s sales tax and file sales tax reports, even if no sales taxes are due
At the American Numismatic Association World’s Fair of Money in Rosemont, Illinois I had various conversations with other dealers about how some customers and potential customers are incredibly critical about small differences in prices quoted by different dealers for a particular product, but who end up purchasing an item that does not offer the best value for the purpose for which they made the purchase.
Let me share with you three real-world examples of what I mean.
The 2019 bullion gold Eagle contains one gold troy ounce and bears a $50 face value
The Ohio legislature, after going back and forth on the issue, sent a fiscal 2020-2021 budget bill to Governor Mike DeWine’s office that eliminates that state’s existing sales tax exemption on precious metals bullion and bullion-priced gold and silver coins, effective Oct. 1, 2019.
According to budget plans, once again imposing sales tax on such products will result in a net increase in Ohio total tax collections
The Internet is a wonderful research tool but the content is not always accurate or complete. Therefore, one needs to temper the results of a numismatic search by confirming information from other sources or thinking about what holes may exist in what is discovered.
Here’s an example
Long-time collectors know that they will get the best results when they sell by acquiring coins and paper money that other collectors would desire. What that means is that attractive coins and currency have an edge over ones that are not. If you dig deeper, ones that are more attractive for the given grade than other pieces of the same technical condition will be easier to sell
This month marks the 20th anniversary of the decision by former British Chancellor of the Exchequer Gordon Brown to sell the majority of the British government’s gold reserves, a process that took two years.
At the end of May 1999, the pound was worth about $1.61 US
Traveling with Coins, Cash and Precious Metals – Beware the TSA Commentary on Traveling with Coins, Cash and Precious Metals Prepared for CoinWeek.com By Patrick A. Heller A while back, a woman contacted me with a problem. She was preparing to take a domestic flight the next day carrying 15 US $20.00 Double Eagles in […]
The post Traveling to Coin Shows – Minimize Risk Of TSA Confiscating Bullion, Rare Coins, Or Cash appeared first on CoinWeek.
Traveling with Coins, Cash and Precious Metals – Beware the TSA Commentary on Traveling with Coins, Cash and Precious Metals Prepared for CoinWeek.com By Patrick A. Heller ….. A while back, a woman contacted me with a problem. She was preparing to take a domestic flight the next day carrying 15 U.S. $20.00 Double […]
The post Traveling to Coin Shows – Minimize Risk Of TSA Confiscating Bullion, Rare Coins, Or Cash appeared first on CoinWeek.
By Industry Council for Tangible Assets ….. Investors Should Exercise Caution Investing in Gold Individual Retirement Account with Home Storage Some precious-metals bullion dealers recently have been advertising “home storage” as a legal and beneficial option for storing bullion that may be invested in a gold individual retirement account (IRA). The “home storage” concept may conflict […]
The post ICTA News: Exercise Caution with Gold IRA Home Storage, NC Dealer Wins Award appeared first on CoinWeek.
At the American Numismatic Association’s (ANA) 2017 World’s Fair of Money, CoinWeek Assitant Editor Hubert Walker met up with hard money advocate and ANA award-winning coin dealer Pat Heller to discuss how Heller first got interesting in gold and silver bullion and how the administration of President Donald J. Trump and foreign speculation in metals […]
The post CoinWeek IQ: What Got You Into Gold? with Pat Heller – 4K Video appeared first on CoinWeek.
At the American Numismatic Association’s (ANA) 2017 World’s Fair of Money, CoinWeek Assitant Editor Hubert Walker met up with hard money advocate and ANA award-winning coin dealer Pat Heller to discuss how Heller first got interesting in gold and silver bullion and how the administration of President Donald J. Trump and foreign speculation in metals […]
The post CoinWeek IQ: What Got You Into Gold? with Pat Heller – 4K Video appeared first on CoinWeek.
Recipients recognized at the World’s Fair of Money® Awards Banquet and Member Donor Reception The following individuals were formally recognized at the 2017 World’s Fair of Money for their contributions to the hobby and the American Numismatic Association (ANA) on August 3 during the Member Donor Reception and at the August 4 Awards Banquet. The […]
The post ANA Honors Distinguished Numismatists with Service Awards appeared first on CoinWeek.
By Louis Golino for CoinWeek ….. I often hear newer coin collectors and silver investors ask what is the best way to buy silver. There are certainly many ways to accumulate, or as some people put it, stack silver, in the physical form. For those looking to acquire physical silver, I think one has to begin with some basic […]
The post The Coin Analyst – What’s the Best Way to Invest in Silver? appeared first on CoinWeek.
by Pat Heller – Liberty Coin Service Last Wednesday, the Federal Open Market Committee (FOMC) ended its latest regularly-scheduled two-day meeting. While the rest of the world waited breathlessly to hear what the concluding announcement would say, my media pronouncement the day before accurately explained what the statement would contain. In the announcement, the Committee […]
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Commentary on Precious Metals Prepared for CoinWeek.com By Patrick A. Heller Last week, a woman contacted me with a problem. She was preparing to take a domestic flight the next day carrying 15 US $20.00 Double Eagles in her purse. Like many of you, she has seen the significant recent media coverage about government officials […]
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Commentary on Precious Metals Prepared for CoinWeek.com By Patrick A. Heller Precious Metals Prices are going to get more volatile starting October 1. The CME Group (NASDAQ: CME), which owns the COMEX, NYMEX, GLOBEX, and other commodity exchanges, has announced new margin rules on leveraged accounts to take effect that date in order to comply with […]
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by Charles Morgan for CoinWeek….. The Central States Numismatic Society Convention is always a big show, but this year is special. 2014 marks the 75th anniversary of the CSNS, and the convention is going on right now at the Renaissance Hotel & Convention Center in Schaumburg, Illinois. More than 200 dealers and industry figures were […]
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