Category Archives: Precious Metals

CFTC: Beware of Gold and Silver Schemes Designed to Drain Your Retirement Savings

By Commodity Futures Trading Commission (CFTC) …. The Commodity Futures Trading Commission (CFTC) advises the public not to take cash from their retirement plans under relaxed distribution rules provided in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to speculate or invest in gold, silver, or other precious metals without first consulting licensed […]

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What Are Bullion Coins?

By Jay Turner for PCGS …… There is a significant share of numismatics and the coin market that is driven by one factor: the metallic value of the coin. These coins that follow the fluctuation of metals markets are considered bullion coins. Bullion coins can consist of precious metals such as gold, silver, platinum, and […]

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Enjoy 2020 “Gold Rush” prudently, advises Accredited Precious Metals Dealers

(Temecula, California) July 31, 2020 — Buyers of physical gold and silver during the 2020 “Gold Rush” should be wary of potential counterfeits in the marketplace, mistaking plated “gold coins” for bullion products, and avoid overpaying for any purchases, cautions the Accredited Precious Metals Dealers (APMD) division of the nonprofit Professional Numismatists Guild (PNG).
“Adding gold, silver, or platinum bullion coins or ingots to an investment portfolio can be a smart choice, but knowing your seller can be a crucial choice,” advises PNG-APMD President Richard Weaver

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Jeff Garrett: Numismatics and the Precious Metals Boom

With gold and other metals continuing to soar in value, more attention is being paid to tangible assets, including rare coins   By Jeff Garrett for Numismatic Guaranty Corporation (NGC) …… Precious metals–gold in particular–are in the news almost daily. This week, gold reached a new high of very nearly $2,000 USD per ounce. Prices […]

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Bullion Investing: Factors to Consider When Deciding Which Coin to Buy

We look at the mintage, purity, and other details of the ‘Big Four’   By John Maben – Pegasus Coin and Jewelry …… With global chaos seeming only a blink away and with the growing threat of inflation caused by governments pumping trillions of dollars and euros into Western economies, the idea of investing in […]

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What Gold Could Do in the Second Half of 2020 – Blanchard and Company

By Blanchard and Company, Inc ……   Uncertainty has long been the default outlook of investors. The present, however, represents both uncertainty and volatility not commonly seen in the markets. COVID-19 cases continue to climb, geopolitical events develop on an hourly basis, and markets are wavering. These factors, which are likely to remain in flux […]

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Gold Trading Breaks Records, Could Reach Higher Targets Dillon Gage President Says

By Dillon Gage Metals …… Spot gold surged to an all-time record above $1,900 USD an ounce early Monday on Comex, and silver hit a seven-year high, as the dollar tumbled. The yellow metal touched $1,946.90 an ounce, taking out the record $1,921.17 for spot bullion set in 2011. The dollar fell to near a […]

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How High Will Silver Go?

By Richard Giedroyc
Silver broke through the $21 an ounce barrier as this commentary was being written, so how high will silver go? Is it really the poor man’s gold? There really isn’t anything further to say that the spot price of silver can’t say for itself. Bullion and bullion-impacted coins continue their upward trend. This, in turn, is grabbing the attention of investors while the general public begins once more to check their change to see if they get lucky

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NGC introduces “Early Production” designation for early Mint strikes

A 1996 American Silver Eagle with the Early Production designation and a 2012-S American Silver Eagle with the Early Production, Struck in 2011 designation. Images by Numismatic Guaranty Corporation

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NGC introduces “Early Production” designation for early Mint strikes

A 1996 American Silver Eagle with the Early Production designation and a 2012-S American Silver Eagle with the Early Production, Struck in 2011 designation. Images by Numismatic Guaranty Corporation

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NGC-certified key date Double Eagle among highlights in Heritage August U.S. coins sale

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An 1870-CC $20 graded NGC AU-50 has already reached six figures weeks before the auction ends

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NGC-certified key date Double Eagle among highlights in Heritage August U.S. coins sale

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An 1870-CC $20 graded NGC AU-50 has already reached six figures weeks before the auction ends

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CFTC Charges Georgia Company, Florida Residents With Precious Metals Fraud, Misappropriation of Nearly $900,000

By Commodity Futures Trading Commission (CFTC) ….   The Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. District Court for the Middle District of Florida against The Alista Group, LLC (Alista), owner Marvin W. Courson III, and company employees Christopher A. Kertatos and Luis M. Pineda Palacios a/k/a Luis Pineda, […]

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Does A Gold Currency Make Sense?

Gold coins have circulated for thousands of years. Using gold in coins for payment purposes has a great combination of advantages—durability, portability, standardization, relative ease of production, and others. One limitation of using gold coins for commerce, however, has been that it was most practical for face-to-face transactions

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Provident Metals 10 oz Silver Incuse Bar

From Zombucks and the World of Dragons series to our beloved Prospector series, Provident Metals has led the way in bringing exciting and unique designs to the bullion industry. Now, we are excited to enter our second decade with the debut of a new Provident Metals Incuse 10 oz Silver Bar. A modern refresh of […]

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Coins with Intrinsic Value in High Demand

By Richard Giedroyc
Could prices for key date and ultra-high condition certified coins be ready for a dramatic increase? Dealers have been recently indicating there is a shortage of quality coins that aren’t what I would term “recycled stuff.” It can be argued that many of the better coins are in strong financial hands, however, it can also be argued demand is simply outstripping supply in much the same fashion as is being experienced in the bullion and bullion-impacted sectors of the coin market.
This is the type of problem we all may welcome, that is unless you have been putting off buying some special coin

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CCAC recommends new reverse designs for 2021 gold and silver bullion coins

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The Citizens Coinage Advisory Committee convened by telephone in administrative and public meetings on Tuesday, June 23, 2020

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New Zealand: New silver bullion coin depicts extinct Chatham Island crested penguin

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The Reserve Bank of New Zealand has released their first bullion-quality silver one-ounce coins which include an earlier motif released for 2020 featuring a now-extinct breed of penguin once abundant on the Chatham Islands

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CCAC recommends new reverse designs for 2021 gold and silver bullion coins

Background photo by AgnosticPreachersKid.
The Citizens Coinage Advisory Committee convened by telephone in administrative and public meetings on Tuesday, June 23, 2020

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New Zealand: New silver bullion coin depicts extinct Chatham Island crested penguin

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The Reserve Bank of New Zealand has released their first bullion-quality silver one-ounce coins which include an earlier motif released for 2020 featuring a now-extinct breed of penguin once abundant on the Chatham Islands

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COVID Business Landscape: Part V

By Tom Michael
As we wrap up our look into what changes the COVID-19 pandemic has brought to the coin business, we want to thank everyone who participated, sharing their insights and adaptations so that we might share them with our readers. We hope this mini-series has provided a breath of fresh air to all who have read it, while reminding everyone of the resilience and resourcefulness endemic in our shared hobby and industry. 
In this last installment, we bring you news from three of the largest producers of gold and silver commemorative and bullion coins in the world, plus an inside look at the workings of two creative coin originators who continue to push the traditional boundaries of modern collectible coinage

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Coronavirus Creates Influx of Collectors, Investors

By Richard Giedroyc
The surprising and rapid recovery of equity markets in a “V” rather than a “U” shape curve has impacted the spot price of precious metals inversely. This, in turn, has been impacting the value of bullion and bullion-impacted coins. Consider that the bad news

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It’s my 10th anniversary as a contributor to Coin Update and World Mint News Blog

Dear readers, it’s hard to believe, but this week marks 10 years since I first joined Coin Update and World Mint News Blog. My first submission in June 2010 was an interview I conducted with U

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United Kingdom: Augmented reality features on final three-coin set in Tales of the Earth Dinosauria series

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The Royal Mint has released (1st June) the third coin in their popular and first numismatic programme which utilised an augmented reality application as part of the design and theme

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United Kingdom: Augmented reality features on final three-coin set in Tales of the Earth Dinosauria series

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The Royal Mint has released (1st June) the third coin in their popular and first numismatic programme which utilised an augmented reality application as part of the design and theme

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Fundamentals for Gold Still Strong – Good for Rare Coins

When gold and silver prices rise, many bullion buyers eventually also begin purchasing rare gold coins, advises award-winning writer Michael Fuljenz   By Mike Fuljenz – Universal Coin & Bullion …… The fundamentals for gold continue strong as it reaches new highs worldwide and near an eight-year high in the United States, and that is helping to boost increased […]

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Tuvalu: Second pirate ship coin issued in “Black Flag” bullion series featuring the Royal Fortune

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The government and treasury of Tuvalu have released the second gold and silver bullion quality coins in their ongoing series entitled “Black Flag,” which features some of history’s most notorious pirate ships to have sailed the seven seas

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Tuvalu: Second pirate ship coin issued in “Black Flag” bullion series featuring the Royal Fortune

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The government and treasury of Tuvalu have released the second gold and silver bullion quality coins in their ongoing series entitled “Black Flag,” which features some of history’s most notorious pirate ships to have sailed the seven seas

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Problems with China and India Gold Statistics

By Patrick Heller
In last week’s column, I detailed various ways that official and unofficial reports of precious metals data (supply, demand, inventories, trading volume, etc.) are either kept secret, is misreported or is skewed so as to be misleading. This column was so popular that it was more widely linked at other websites than most of my articles

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Counterfeiting battles continued in May

Anti-Counterfeiting Educational Foundation is working with fraud victims and federal law enforcement agencies
(Fallbrook, California) May 26, 2020 — A fraudulent advertisement for bullion coins on Facebook, fake encapsulation holders, and requests for expert help from federal agencies kept the nonprofit Anti-Counterfeiting Educational Foundation (ACEF) busy during May 2020.
One of the 10 fake American Silver Eagles sold to an unsuspecting victim who responded to an unsolicited advertisement on Facebook

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Counterfeiting battles continued in May

Anti-Counterfeiting Educational Foundation is working with fraud victims and federal law enforcement agencies
(Fallbrook, California) May 26, 2020 — A fraudulent advertisement for bullion coins on Facebook, fake encapsulation holders, and requests for expert help from federal agencies kept the nonprofit Anti-Counterfeiting Educational Foundation (ACEF) busy during May 2020.
One of the 10 fake American Silver Eagles sold to an unsuspecting victim who responded to an unsolicited advertisement on Facebook

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United States Mint opens sales for 2020 Basketball Hall of Fame Commemorative Coin Program on June 4

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Washington — Products in the United States Mint (Mint) 2020 Basketball Hall of Fame Commemorative Coin Program will go on sale June 4 at noon Eastern Daylight Time (EDT)

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United States Mint opens sales for 2020 Basketball Hall of Fame Commemorative Coin Program on June 4

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Washington — Products in the United States Mint (Mint) 2020 Basketball Hall of Fame Commemorative Coin Program will go on sale June 4 at noon Eastern Daylight Time (EDT)

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Australia: Latest coins released in ongoing “Next Generation” silver bullion series

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The Perth Mint has released their latest coins that are part of an ongoing series entitled “Next Generation,” which portray some of the continents indigenous wildlife with full-grown depictions and their offspring

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Coin Market Healthiest It’s Been in Years

By Richard Giedroyc
Gold continues to trade in a reasonably tight range while silver continues to dramatically underperform gold. You might not see this if you follow the demand for silver American Eagle and bullion-impacted silver coins. Demand continues to outstrip supply for both gold and silver composition coins, both older issues and those being generated by the U

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Q&A: Why did the United States begin producing nickel five-cent coins in 1866 when they had been, and still were, coining silver half dimes?

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The following Q&A is excerpted from Clifford Mishler’s Coins: Questions & Answers:
Q: Why did the United States begin producing nickel five-cent coins in 1866 when they had been, and still were, coining silver half dimes?
A: The onset of war, with its requirement of vast expenditures of money and the orientation of priorities for non-consumer goods, traditionally creates inflationary monetary conditions

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Q&A: Why did the United States begin producing nickel five-cent coins in 1866 when they had been, and still were, coining silver half dimes?

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The following Q&A is excerpted from Clifford Mishler’s Coins: Questions & Answers:
Q: Why did the United States begin producing nickel five-cent coins in 1866 when they had been, and still were, coining silver half dimes?
A: The onset of war, with its requirement of vast expenditures of money and the orientation of priorities for non-consumer goods, traditionally creates inflationary monetary conditions

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Counterfeits gone viral: Online sales of fake gold and silver cost public millions

(Temecula, California) April 30, 2020 — The current enormous demand and limited supply of silver and gold bullion coins and other precious metals items during the COVID-19 pandemic have created a breeding ground for the distribution of counterfeits that is costing unsuspecting investors millions of dollars, according to the nonprofit Anti-Counterfeiting Educational Foundation (ACEF) .
“Counterfeiters, using sophisticated online marketing techniques, prey on the emotional fears and anxieties of the public

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Counterfeits gone viral: Online sales of fake gold and silver cost public millions

(Temecula, California) April 30, 2020 — The current enormous demand and limited supply of silver and gold bullion coins and other precious metals items during the COVID-19 pandemic have created a breeding ground for the distribution of counterfeits that is costing unsuspecting investors millions of dollars, according to the nonprofit Anti-Counterfeiting Educational Foundation (ACEF) .
“Counterfeiters, using sophisticated online marketing techniques, prey on the emotional fears and anxieties of the public

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British Indian Ocean Territory: First bullion silver coins released featuring Sea Turtle

The government and treasury of the British Indian Ocean Territory have released their first-ever bullion-related silver coins to the market and collectors. Chosen for the reverse design is one of the territory’s most well-known sea inhabitants, the turtle

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Australia: New line introduces Australia beneath the Southern Skies gold and silver bullion coins

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The Royal Australian Mint has released a new line of bullion coins in both gold and silver which revisits a design once considered for a new series of coinage introduced for the country’s transition to a decimal currency

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Australia: New line introduces Australia beneath the Southern Skies gold and silver bullion coins

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The Royal Australian Mint has released a new line of bullion coins in both gold and silver which revisits a design once considered for a new series of coinage introduced for the country’s transition to a decimal currency

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British Indian Ocean Territory: First bullion silver coins released featuring Sea Turtle

The government and treasury of the British Indian Ocean Territory have released their first-ever bullion-related silver coins to the market and collectors. Chosen for the reverse design is one of the territory’s most well-known sea inhabitants, the turtle

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United States Mint to resume West Point operations

The following comes from an e-mail sent to the press today
The United States Mint (Mint) will resume limited production Tuesday morning, April 21st at the Mint facility at West Point. During the temporary suspension of operations at the West Point Mint, in consultation with local public health officials, a thorough cleaning of the facility was conducted in accordance with Centers for Disease Control and Prevention (CDC) guidelines

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Silver Collecting – 1/2 oz Silver Rounds – Secondary Market

1/2 oz Fractional Silver Rounds Bullion Coins Secondary market Silver rounds are an excellent way to add to your Silver holdings. Although the rounds you receive could be perfect, nice, scruffy or somewhere in between each round/coin will be at least .999+ fine Silver Rounds Highlights: Contains 1/2 oz of .999 fine Silver. Packaging may vary […]

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MintID Announces World’s 1st NFC-Protected Precious Metal Products

MintID was created to solve the problem of counterfeiting in the precious metals space. But until now, investors have been plagued with the uncertainty of whether or not the products they own are actually genuine. By embedding AES-128-bit encrypted and tamper-proof NFC chips directly at the source, customers can authenticate their investments in real time […]

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United States Mint to resume West Point operations

The United States Mint (Mint) will resume limited production Tuesday morning, April 21st at the Mint facility at West Point. During the temporary suspension of operations at the West Point Mint, in consultation with local public health officials, a thorough cleaning of the facility was conducted in accordance with Centers for Disease Control and Prevention (CDC) guidelines

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United States Mint temporarily shuts down West Point facility

The following comes from an e-mail sent to the press today.
Due to the increasing number of COVID-19 cases in Orange County, New York, and out of an abundance of caution, the United States Mint (Mint) has temporarily suspended production at the Mint facility at West Point

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United States Mint temporarily shuts down West Point facility

The following comes from an e-mail sent to the press today.
Due to the increasing number of COVID-19 cases in Orange County, New York, and out of an abundance of caution, the United States Mint (Mint) has temporarily suspended production at the Mint facility at West Point

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The Long Bear Market in Silver: Blanchard

By Blanchard and Company, Inc ….. Investors big and small, domestic and foreign, have piled heartily into gold since the start of the COVID-19 bear market in stocks. Gold is one of the best performing assets classes in the first quarter 2020, yet silver remains depressed. Many investors wonder why. The short answer is that […]

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Somalia: Latest African Wildlife premier bullion coins feature new depiction of the majestic leopard

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The Central Bank of Somalia has authorised the release of new gold and silver bullion quality coins which are part of their new African Wildlife series introduced in 2018

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Community Voice Response: April 28, 2020

From the April 3, 2020, Numismatic News E-NewsLetter
How have your coin/bullion buying and selling habits changed in light of the coronavirus bearing down on the United States?
Here are some answers sent in from our E-Newsletter readers.
 
I have been trying to buy when I can in different amounts and types so I can just keep adding to my bullion totals. Nothing too aggressive just basic silver 1-ounce rounds, 90 percent silver and maybe the occasional 1/10-ounce gold Eagle

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Dillon Gage, CACHE Form Alliance for Gold-Backed Tokens

By Dillon Gage …… Singapore-based CACHE Private Limited, a provider of fully-redeemable digital assets backed by gold, and Dallas-based Dillon Gage, a world leader in physical precious metals trading and technology, announced today that they have entered into a strategic global alliance. Dillon Gage Inc. of Dallas has acquired an equity stake in CACHE and […]

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CoinWeek Podcast #132: The Gold Market in a Time of Crisis (with Kitco’s Peter Hug)

  CoinWeek Podcast #132: The Gold Market in a Time of Crisis (with Kitco’s Peter Hug) Mobile phone users. Stream this podcast for free by downloading the podomatic app or subscribe to the CoinWeek Podcast on iTunes. This week on the CoinWeek Podcast, precious metals expert Peter Hug joins me to share his insights into the current […]

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Buyers and Sellers Taking Advantage of Gold, Silver Prices But Some Inventories Low

Accredited Precious Metals Dealers Urge Caution Against Market Scams   The recent jump in the price of gold due to stock market decreases and fear of the coronavirus has attracted new retail customers. The financial and public health concerns have also lured a return of many previous gold and silver bullion customers, but some inventories […]

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Silver Bullion Round Profile – 1/10 oz Fractional Silver Round – Incuse Indian

This beautiful Fractional Silver round is patterned after the $2.50 and $5 Indian Head gold coins minted from 1908 to 1929. This popular incuse, or sunken relief, design is now available in fractional silver sizes to accommodate any price point. Fractional Silver Round Highlights: Contains 1/10 oz of .999 fine Silver. Individual Fractional rounds come […]

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Buyers and sellers taking advantage of gold and silver prices but some inventories are low, say bullion dealers

Accredited Precious Metals Dealers Urge Caution Against Market Scams
(Temecula, California) April 2, 2020 — The recent jump in the price of gold due to stock market decreases and fear of the coronavirus has attracted new retail customers. The financial and public health concerns have also lured a return of many previous gold and silver bullion customers, but some inventories of physical bullion are low, according to members of the Accredited Precious Metals Dealer program (APMD), a division of the non-profit Professional Numismatists Guild (PNG)

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2020 American Gold Buffalo one-ounce Proof coin on sale April 9

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Washington — The United States Mint (Mint) will begin accepting orders for the 2020 American Gold Buffalo one-ounce Proof coin (product code 20EL) on April 9 at noon EDT

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Coin and banknote markets strong amid global crisis

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Sarasota, Florida (April 1, 2020) — As the world faces an unprecedented economic and public health crisis brought on by the coronavirus COVID-19, the numismatic markets have demonstrated incredible resiliency

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Community Voice Response: March 27 eNewsletter

From the March 27, 2020, Numismatic News E-NewsLetter
Do you see opportunity or risk in the current declining spot metals prices?
Here are some answers sent in from our E-Newsletter readers.
 
Like other markets, it is for buying. Unfortunately, with reduced income, money goes to food and fuel

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“Stay at home” applies to coin dealers

More states issue stay-at-home orders to mitigate the spread of COVID-19
The Industry Council for Tangible Assets has been contacted by many members who are requesting information on whether dealers may be exempt from “stay at home” orders, based upon the dealer inclusion in Section 352 of the Patriot Act.
ICTA’s executive director, Jimmy Hayes, was an author of the Louisiana Bank Code and a former commissioner of financial institutions

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Counterfeit Precious Metals Websites Erupt With Volatility of Market

The March 24, 2020 consumer/investor advisory statement below is from Doug Davis, Director of the Anti-Counterfeiting Task Force of the non-profit Anti-Counterfeiting Educational Foundation. Mr.Davis is a former Texas police chief

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How to safely receive packages during a pandemic

Image by Richard Wheeler under the terms of the GNU Free Documentation License.
With many a coin show or auction postponing or canceling in-person venues in lieu of recent social distancing recommendations, many collectors and dealers are now turning to the Internet to continue their trade via delivery services

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Precious Metals Spot Prices Down, Physical Market Premiums Up Strong

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

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Bullion and coin sales-tax exemption successfully defended again in Maryland

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

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Bid by Percentage in the Stack’s Bowers March 2020 Precious Metals Auction

Auction Ends Thursday Evening, March 12   Stack’s Bowers Galleries is proud to present their Precious Metals Auctions, a new auction platform for buying bullion with no buyer’s fees. The interest in bullion has seen a steady increase over the past several years, as interest in this historically stable investment category grows. Bullion is available […]

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Three States Considering Repeal Of Coin/Bullion Sales Tax Exemptions

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

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Canada: Mega-sized 10-kilogram Gold Maple Leaf coin launched by Royal Canadian Mint

The Royal Canadian Mint has produced the largest Gold Maple Leaf coin ever made, struck in precise detail employing a high relief technique at the mint’s Ottawa facility. The Royal Canadian Mint is the only mint in the world crafting coins from 99

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Dillon Gage Metals Sees Palladium Taking Aim at Surpassing $3,000 Per Ounce

Palladium reaches all-time record of $2,911.70 per ounce on Thursday, February 27   By Dillon Gage Metals …… On Thursday, February 27, palladium reached its all-time record high of $2,911.70 USD per ounce. Dillon Gage, a world leader in physical precious metals, explains why palladium is worth a lot more than its weight in gold. […]

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The health of the hobby, 2020

For several years when I was a kid, my father and I would plant, nurture, and eventually harvest a big vegetable garden. It was something special he and I shared—my one older brother still living at home didn’t really take to it; my mother helped, but she focused mainly on her flower gardens

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GoldDealer.com Market News: Gold Heats Up – 7 Year Highs

Commentary for Tuesday, February 24, 2020 (www.golddealer.com) By Richard Schwary of California Numismatic Investments Inc …… Gold closed up $$27.80 today at $1,672.40! So, we are at seven-year highs, while the Dollar Index is moving towards 100 so both gold and the dollar are now seeing solid safe-haven buying. It is a bit perplexing however […]

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Dillon Gage Explains Coronavirus Impacts on Gold

Gold expert explains why gold performs well in times of uncertainty   By Dillon Gage Metals …… Dillon Gage, a world leader in physical precious metals, explains why the coronavirus epidemic ravaging China may send gold futures prices to seven-year record highs above $1,700 USD an ounce and up. Gold is considered a safe-haven asset, […]

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Dillon Gage explains coronavirus impacts on gold

Gold expert explains why gold performs well in times of uncertainty
Addison, Texas (February 21, 2020) Dillon Gage, a world leader in physical precious metals, explains why the coronavirus epidemic ravaging China may send gold futures prices to seven-year record highs above $1,700 an ounce and up.
Gold is considered a safe-haven asset, attracting investors around the world in times of economic or geopolitical uncertainty

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Market for Morgan and Peace Dollars Still Soft

The finest known 1855 proof Kellogg $50 gold coin, graded PCGS PR-64 Cameo CAC, sold for a record $1 million by Witter Coin in San Francisco and will be exhibited by its new owner at the store’s grand opening starting Feb. 10, 2020. (Image courtesy Professional Coin Grading Service, www

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Noted numismatist Miles Standish designs Miss Liberty silver bullion coins

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(Idaho Falls, Idaho) February 14, 2020 — Fulfilling a long-time dream, well-known professional numismatist and award-winning author Michael “Miles” Standish has designed unprecedented one and two-ounce, colorized silver Proof coins, each depicting front and back renditions of the Statue of Liberty and the New York area skylines

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Slight Progress on Ebay Erroneous Sales Tax Charges

By Patrick Heller 
Two weeks ago, I wrote about the growing problem of how sales facilitators (referred to by many states as “market providers”) such as Amazon and eBay are now required to collect and remit the sales taxes applicable in the buyer’s state if the seller is from a different state. Unfortunately, every software system approved by the Streamline Sales Tax Governing Board, Inc. and available to Amazon and eBay has a number of errors in 1) implementing existing states’ sales tax exemptions, and 2) calculating the correct sales taxes to collect in states where county and local sales taxes may apply

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Dean Schmidt receives service award for Kansas bill efforts

Industry Council for Tangible Assets dealer-member Dean Schmidt (Dean Schmidt Rare Coins, Atchison, Kansas) was honored during the ICTA dinner and update at Tony Roma’s in Orlando, Florida, on January 8 as the recipient of the 2019 Diane Piret Memorial Outstanding Service Award for his efforts to see Kansas House Bill 2140 passed. The bill provides a sales-tax exemption on sales of gold and silver coins and on all gold, silver, platinum, and palladium bullion

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The S&P Global Market Report and the Future of Gold Mining

By Blanchard and Company, Inc ….. Gold mines are becoming more difficult to source and maintain. Consider that the global nonferrous exploration budget remains below the 2014 level. Moreover, between 2012 and 2016 this figure dropped each year. The S&P Global Market Intelligence Report adds color to these numbers by explaining that their research “has […]

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Why Palladium Prices Keep Going Up

  By Everett Millman – Gainesville Coins …… Palladium is currently in a supply deficit. This is the main reason that prices have climbed so much recently. The shortfall in the palladium supply has been building for several years. Of course, demand from the automotive industry is also playing a role. As Jim Wyckoff of Kitco […]

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Counterfeit coins importer sentenced to 10.5 years in prison

Anti-Counterfeiting Educational Foundation alerted and assisted investigators in the case
(Camden, NJ) January 29, 2020 — A federal court judge in Camden, New Jersey has sentenced admitted counterfeit coins importer, Johnathan A. Kirschner, 35, of Moorestown, New Jersey, to 10

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Counterfeit coins importer sentenced to 10.5 years in prison

Anti-Counterfeiting Educational Foundation alerted and assisted investigators in the case
(Camden, NJ) January 29, 2020 — A federal court judge in Camden, New Jersey has sentenced admitted counterfeit coins importer, Johnathan A. Kirschner, 35, of Moorestown, New Jersey, to 10

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Rising Precious Metals Pricing and How It’s Affecting the Market

Precious Metals By Bullion Shark LLC …… Every single group of precious metals has been on the move lately. That includes gold, silver, platinum, palladium and rhodium. Precious metal investors are thrilled, and hype in the market is starting to show. Since the metals hit their heights in 2011, we have not since seen the […]

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Final release in Preamble to the Declaration of Independence Platinum Proof Coin Series on sale January 30

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Washington — The United States Mint (Mint) will release the third and final coin in its Preamble to the Declaration of Independence Platinum Proof Coin Series (product code 20EJ) on January 30 at noon EST

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January 21, 2020, CCAC meeting: End of World War II 75th Anniversary medals and 24-karat gold coin

Image by Florian Hirzinger under the Creative Commons Attribution-Share Alike 3.0 Unported license

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Easily report suspected fakes with online help from Anti-Counterfeiting Educational Foundation

(Temecula, California) January 21, 2020 — The Anti-Counterfeiting Educational Foundation (ACEF) now provides collectors, dealers, the general public, and victims of suspected fraud with a convenient and secure way to report information about counterfeit coins, bars, holders, rounds, Mint products, paper money, or other suspicious counterfeit related activities.
“See it? Report it! If you have information about a counterfeit, you can easily go to the ACEF website, and click on the Counterfeit Alert tab,” explained Doug Davis, ACEF Director of Anti-Counterfeiting

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Australia: Second gold and silver triangular coins of the Australian Shipwreck series feature Vergulde Draeck

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Following the first release last year in the Royal Australian Mint’s popular bullion series entitled “Australian Shipwrecks,” the second gold and silver coins issued feature another fascinating story of maritime lore

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2020 American Platinum Eagle Proof coin — Pursuit of Happiness — to be released January 30 at noon

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On January 30 at 12 noon (ET) the United States Mint will release the 2020 Preamble to the Declaration of Independence American Platinum Eagle Proof coin — Pursuit of Happiness (20EJ)

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2020 American Platinum Eagle Proof coin — Pursuit of Happiness — to be released January 30 at noon

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On January 30 at 12 noon (ET) the United States Mint will release the 2020 Preamble to the Declaration of Independence American Platinum Eagle Proof coin — Pursuit of Happiness (20EJ)

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Canada: Centenary anniversary of iconic RCMP features on new silver bullion piedfort coins

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The Royal Canadian Mint has released new silver bullion quality piedfort coins which are in celebration of the country’s iconic Royal Canadian Mounted Police (RCMP), founded 100 years ago

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CFTC Charges US Coin Bullion LLC and Its Owners With $7.9 Million Precious Metals Fraud

By Commodity Futures Trading Commission (CFTC) ….   On Friday, January 10, the U.S. Commodity Futures Trading Commission (CFTC) announced it had filed a civil enforcement action on January 8 in the U.S. District Court for the Middle District of Florida, charging US Coin Bullion LLC, Salvatore Esposito, and Joseph Esposito with misappropriating over $7.9 […]

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The Franklin Mint’s legacy for modern numismatics

The since-demolished Franklin Mint Museum next to the former headquarters in Wawa, Pennsylvania.
On December 21, Joseph Segel, a lifelong entrepreneur, best known for starting two iconic businesses, the Franklin Mint and QVC home shopping network, among other businesses, died at the age of 88 of congestive heart failure in Gladwyne, PA

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The Franklin Mint’s legacy for modern numismatics

The since-demolished Franklin Mint Museum next to the former headquarters in Wawa, Pennsylvania.
By Louis Golino
On December 21, Joseph Segel, a lifelong entrepreneur, best known for starting two iconic businesses, the Franklin Mint and QVC home shopping network, among other businesses, died at the age of 88 of congestive heart failure in Gladwyne, PA

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Hundreds of rare coin record prices In 2019, reports Professional Numismatists Guild

(Temecula, California) December 30, 2019 — The emphasis in the United States rare coin market in 2019 was again on superb quality and exceptional rarity with hundreds of record prices reached at major public auctions, according to a year-end tabulation by the Professional Numismatists Guild (PNG). The PNG is a nonprofit organization composed of many of the country’s top rare coin and paper money dealers

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Gibraltar: New 50-pence collector’s coins celebrating 180th anniversary of famed “Penny Black” first stamp issue

The treasury of Gibraltar has released (3rd December) new gold and silver collector’s coins which are in celebration of the world’s first-ever postage stamp. The Penny Black, as it is referred to, is remembered as the world’s first postage stamp used in a public postal system

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Japan: Fourth and final series of gold and silver 2020 Tokyo Summer Olympic coins revealed

The Finance Ministry of Japan has unveiled (29th November) the fourth and final series of Olympic coinage which is scheduled for release later in 2020. The precious metal coins in the 4th series comprise one gold design and two silver designs which continue to highlight the various sports which will feature during the games of the XXXII Olympiad — commonly known as “Tokyo 2020

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Stack’s Bowers December Collectors Choice, Precious Metals Auctions Close This Week

By Stack’s Bowers Galleries …… Collectors Choice Our December 2019 Collectors Choice Sale is now online! Check out StacksBowers.com to view over 600 lots of U.S. coins and U.S. currency, valued over $1,000,000 USD. Over 85% of the lots are unreserved. The auction closes live with an auctioneer on our website and mobile Apps on […]

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Bahamas: New limited quantity gold bullion coins featuring sea life motifs launched

The Central Bank of the Bahamas has announced the imminent issue of two new bullion-quality gold coins, though with very limited mintages. The 2019-dated coins are the second year in which the Central Bank has launched gold coins, and due to their limited quantity, have been seen as collector’s pieces

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Wyoming, Texas, Utah Top 2019 Sound Money Index — Vermont, Arkansas, New Jersey Among the Worst States

Precious Metals Dealer, Sound Money Group Rank the 50 States’ Gold and Silver Policies   By Money Metals Exchange …… “Is Your State Destroying Your Money?” asks the Sound Money Defense League and Money Metals Exchange with the release of the 2019 Sound Money Index. The index is the first index of its kind, ranking […]

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Key date coins, the 2019-S Enhanced Reverse Proof, and the future of American Silver Eagles: An interview with Eric Jordan

Eric Jordan, who has degrees in engineering and business, started as a collector of classic American issues like Prooflike Morgan dollars in the 1980s, but in the 1990s discovered he would not be able to complete that set and that indexed to inflation his collection had “leveled out or worse.” His attention then shifted to “the radical drop in high-end modern coin mintages” and the “low-risk opportunity they presented,” as he wrote in his well-received book, Modern Commemorative Coins (Krause, 2010)

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Key date coins, the 2019-S Enhanced Reverse Proof, and the future of American Silver Eagles: An interview with Eric Jordan

By Louis Golino
Eric Jordan, who has degrees in engineering and business, started as a collector of classic American issues like Prooflike Morgan dollars in the 1980s, but in the 1990s discovered he would not be able to complete that set and that indexed to inflation his collection had “leveled out or worse.” His attention then shifted to “the radical drop in high-end modern coin mintages” and the “low-risk opportunity they presented,” as he wrote in his well-received book, Modern Commemorative Coins (Krause, 2010)

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PCGS announces exclusive APMEX partnership to offer new bullion FirstStrike service for 2020

(November 13, 2019) — Professional Coin Grading Service (PCGS) has partnered with APMEX, the largest online retailer of precious metals, to offer an exciting new product geared toward bullion enthusiasts beginning in 2020. It combines APMEX’s popular MintDirect products with desirable PCGS FirstStrike certification eligibility

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Golden Giveaways Mark Five Years of The Royal Mint Precious Metals Platform

Nicola Howell, Director of Precious Metals at The Royal Mint commented: “We are delighted to celebrate five years since the launch of our UK precious metals platform for investors and have seen a 38% compound annual growth in demand for precious metal investment products since 2014. “With 1,100 years of heritage, The Royal Mint has […]

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Coin Owners Reluctant to Sell

Relatively common-date, common-condition gold and silver composition coins continue to mirror daily market changes in their intrinsic values. Since there has been no breakaway in the spot price of gold or silver bullion, the value of these coins continues to be in a tight trading range. Regardless, a certain sector of collectors and possibly including investors see these as reasonable prices at which they are quite willing to buy

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PNG: Must-Know Tips to Avoid Gold Scams

Adding gold, silver or platinum bullion coins or ingots to an investment portfolio can be a smart choice, but knowing your seller can be a crucial choice, advises the Professional Numismatists Guild (PNG), a nonprofit organization of many of the country’s top rare coin and bullion coin experts. In recent months, law enforcement officials in […]

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Must-know tips to avoid gold scams

(Temecula, California) November 4, 2019 — Adding gold, silver, or platinum bullion coins or ingots to an investment portfolio can be a smart choice, but knowing your seller can be a crucial choice, advises the Professional Numismatists Guild (PNG), a nonprofit organization of many of the country’s top rare coin and bullion coin experts.
In recent months, law enforcement officials in Florida, Minnesota, New York, Pennsylvania, and Utah have charged several reputedly unscrupulous merchants with selling counterfeit coins to unsuspecting investors and/or not paying for genuine coins submitted for sale by customers

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South Africa: New two-ounce double-crown silver Proof Krugerrand strikes debut

The South African Treasury has authorised the release of new two-ounce silver Proof coins which bear the design of the internationally renowned and admired “Krugerrand,” introduced initially as a bullion product in 1967. The bullion coin industry was conceived when the concept of a legal tender gold coin linked to the daily gold price was introduced in South Africa

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Coin hoards, treasures, and troves: Separating truth from taradiddles!

The second edition of Q. David Bowers’s Lost and Found Coin Hoards and Treasures, one of the most exciting coin-collecting books of recent years, has been released by Whitman Publishing

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Coin hoards, treasures, and troves: Separating truth from taradiddles!

The second edition of Q. David Bowers’s Lost and Found Coin Hoards and Treasures, one of the most exciting coin-collecting books of recent years, has been released by Whitman Publishing

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Collecting the Libertad coin series

Mexico — the world’s largest silver producer — operates the oldest mint in North America, the Casa de Moneda, founded in 1535. In the modern era, the mint introduced the world’s first major silver bullion coin, the Libertad (which means “liberty” or “freedom”), in 1982 — the year after it debuted a gold version

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Anti-Counterfeiting Educational Foundation joins forces with CrimeDex

(Temecula, California) October 30, 2019 — The Anti-Counterfeiting Educational Foundation (ACEF) has been granted membership into CrimeDex, the world’s largest criminal investigation network composed of more than 4,000 law enforcement agencies, financial institutions, and criminal investigators across the United States and around the globe.
“The CrimeDex platform allows members to send out alerts, develop leads, and track criminal trends and patterns,” explained Doug Davis, ACEF director of Anti-Counterfeiting

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Ancient silver bar with cartouche bearing the name of Pharaoh Tutankhamun to be offered at auction

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The Swiss auction house Numismatica Genevensis SA has announced they will offer in their upcoming auction on the 18th and 19th November 2019, an object that could revolutionise monetary history as we know it

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Ancient silver bar with cartouche bearing the name of Pharaoh Tutankhamun to be offered at auction

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The Swiss auction house Numismatica Genevensis SA has announced they will offer in their upcoming auction on the 18th and 19th November 2019, an object that could revolutionise monetary history as we know it

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Federal Court Orders Florida Company to Pay More Than $15 Million for Fraud, Illegal Precious Metals Transactions

By Commodity Futures Trading Commission ……   On Monday, October 28, the United States Commodity Futures Trading Commission today announced that the U.S. District Court for the Southern District of Florida entered a default judgment against defendants Aviv Michael Hen of New York, and Omega Knight 2, LLC, as well as a consent order against […]

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U.S. Coin Supply Out-Pacing Demand

Sales are up, prices aren’t. This pretty well summarizes the current state of the business of coins.
Some of this can be blamed on the recent declines in the commodity spot price of precious metals; however, there is some weakness in the market for copper half cents and cents, and for nickels as well

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Australia: New silver bullion series entitled “Australia’s Most Dangerous” launches with redback spider

Background photo by Bjørn Christian Tørrissen.
The Royal Australian Mint has launched a new bullion-related product which also sees the start of a new coin series

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Australia: New silver bullion series entitled “Australia’s Most Dangerous” launches with redback spider

Background photo by Bjørn Christian Tørrissen.
The Royal Australian Mint has launched a new bullion-related product which also sees the start of a new coin series

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Morgan Stanley, Mitsubishi to Pay Almost $2 Million for Spoofing Precious Metals Futures

By Commodity Futures Trading Commission …… On Tuesday, October 1, the U.S. Commodity Futures Trading Commission today announced that civil enforcement actions were filed and simultaneously settled against two trading firms and one bank for violating the Commodity Exchange Act’s (CEA) prohibition on spoofing (bidding or offering with the intent to cancel the bid or […]

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Stack’s Bowers Galleries Announces Their Inaugural Precious Metals Auction

Bidding ends Wednesday, October 2, 2019 at 10:00 am PT Stack’s Bowers Galleries is proud to announce their Precious Metals Auctions, a new auction platform for buying bullion with no buyer’s fees. The interest in bullion has seen a steady increase over the past several years, as interest in this historically stable investment category grows. […]

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Dillon Gage Releases New FizTrade Precious Metals Trading App

Precious metals trading-based app gives dealers an alternative to buy, sell and trade 24/7 Dillon Gage – a world leader in physical precious metals trading and technology serving dealers, financial institutions, banks and brokerage houses around the globe – announces its new FizTrade precious metals trading mobile app. Launched in 2000, FizTrade, the award-winning trading […]

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Operators of U.S. Coin Bullion, LLC to Plead Guilty to More Than $7 Million in Fraud

By the United States Attorney’s Office, Middle District of Florida ……   United States Attorney Maria Chapa Lopez announces that brothers Salvatore Esposito (47, Orlando) and Joseph Esposito (43, Orlando) have agreed to plead guilty to an information charging them with conspiracy to commit wire fraud and mail fraud. Each faces a maximum penalty of […]

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Former Precious Metal Trader Admits to Fraud at Two New York Banks

By Commodity Futures Trading Commission …..   On September 16, the United States Commodity Futures Trading Commission (CFTC) issued an order filing and settling charges against Christian Trunz, a former precious metals trader at two financial institutions who entered into a formal cooperation agreement with the CFTC’s Division of Enforcement and admitted to spoofing in […]

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Trader, Industrial Firm Charged with Spoofing in Precious Metals Futures

By Commodity Futures Trading Commission …..   On Monday, September 16, he U.S. Commodity Futures Trading Commission (CFTC) issued two orders filing and settling charges against John Lawrence and his employer, Heraeus Metals New York LLC, for spoofing — bidding or offering with the intent to cancel the bid or offer before execution. The order […]

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Don’t Be Rushed In New Gold Rush, Veteran Bullion Dealers Caution

Investors wanting to enter the gold and silver markets or add to existing portfolios should be wary of potential counterfeits, plated “gold coins”, or overpaying for any purchases. This advice comes from the Accredited Precious Metals Dealers (APMD) division of the nonprofit Professional Numismatists Guild (PNG). “The new ‘Gold Rush’ of significantly higher prices this […]

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Equity Trust Partners with IDS for IRA Bullion Storage Solution

By Dillon Gage Metals …… Offering state-of-the-art precious metals solutions across the globe, International Depository Services Group announced on Thursday, September 12 a new bullion storage partnership with Equity Trust Company, a leading custodian of self-directed Individual Retirement Accounts, also known as IRAs. While Equity Trust is expanding its presence in the market, this is […]

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Don’t Be Rushed In New Gold Rush: Make Wise Choices, Veteran Bullion Dealers Caution

 
The consumer/investor advisory below is distributed on behalf of the Accredited Precious Metals Dealer division of the nonprofit Professional Numismatists Guild. 
 
(Temecula, California) Sept. 9, 2019 – Investors wanting to enter the gold and silver markets or add to existing portfolios should be wary of potential counterfeits, plated “gold coins” or overpaying for any purchases

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Canada: “Pulsating maple leaf” with photonics strike features on double crown silver coin

The Royal Canadian Mint has released new silver Proof coins which incorporate first-of-its-kind striking technology and leading-edge photonics with their classic coin reverse design. The maple leaf design on this coin was first introduced on Royal Canadian Mint silver and platinum bullion coins in 1988

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Don’t be rushed in new Gold Rush: Make wise choices, veteran bullion dealers caution

(Temecula, California) September 9, 2019 — Investors wanting to enter the gold and silver markets or add to existing portfolios should be wary of potential counterfeits, plated “gold coins” or overpaying for any purchases. This advice comes from the Accredited Precious Metals Dealers (APMD) division of the nonprofit Professional Numismatists Guild (PNG)

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Perth Mint Coins Honor a New Era of an Ancient Calendar

The following is released on behalf of the Perth Mint.
The historic Perth Mint has introduced the third series of precious metal coins celebrating the ancient lunar calendar as part of Australia’s internationally renowned bullion coin program.
From being the first major mint in the world to issue coins celebrating the animals of the Asian zodiac in 1995, The Perth Mint will strengthen its position at the fore of the global bullion coin market in 2020 by issuing Australian Lunar Series III

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S.S. Central America sunken treasure gold dust now in grand format, certified five-ounce holders

California Gold Rush gold dust housed in elegant PCGS holders
August 29, 2019 — Historic sunken gold treasure, initially discovered by 49ers during the heydays of the California Gold Rush and untouched in the miners’ goldfield packets for more than 160 years, is now available in grand format PCGS-certified holders each containing five ounces of the precious metal. All of the gold dust was recovered from the fabled “Ship of Gold,” the S

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Australia: New gold bullion series, “Kangaroos at Dawn,” debuts with new 1/5-ounce Proof coins with limited mintage

The Royal Australian Mint has launched their new gold bullion series entitled “Kangaroos at Dawn” with the issue of 1/5-ounce gold Proof coins and a very limited mintage of just 1,000 pieces.
For 13 years, the Royal Australian Mint released, by ballot, the “Kangaroo at Sunset” 1/5-ounce gold coin for serious collectors and those attracted to fine artistic representations of one of Australia’s most popular unique animals

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5 Things to Know as Gold Bull Run Unfolds: Blanchard

Gold Bull Run By Blanchard and Company, Inc ….. 1. Gold is proving its worth as a safe-haven asset In today’s world of stepped-up U.S.-China trade tensions, market-moving tweets, stock market volatility and economic uncertainty, gold is acting exactly as it should – as a safe-haven investment. Investors around the globe are investing in gold […]

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Denver Coin Expo returns to National Western Complex

Over 100 exhibitors from around the country will join together for one of the largest and oldest coin shows in the Rocky Mountains this fall
Denver, CO — This fall, the Denver Coin Exposition is coming to the National Western Complex from September 26-28. It will be open to the public Thursday and Friday from 10:00 am to 6:00 pm and on Saturday from 10:00 am to 4:00 pm

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Numismatic influencers receive awards during World’s Fair of Money

Leaders in numismatics are essential for helping others to grow within the coin collecting hobby. Whether that leadership is provided through teaching, mentoring, writing, or leading conventions and shows, these activities help foster learning for all numismatists

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Former police chief, Doug Davis, named anti-counterfeiting director of the Anti-Counterfeiting Educational Foundation

Current Director Beth Deisher will step down in September after successful anti-counterfeiting work
(Rosemont, Illinois) August 13, 2019 — Doug Davis, founder of the Numismatic Crime Information Center and a former Police Chief of the Dallas suburb of Pantego, Texas, has been selected by the nonprofit Anti-Counterfeiting Educational Foundation (ACEF) to be its next director of Anti-Counterfeiting.
Davis has more than 30 years of experience in law enforcement and in helping to combat numismatic-related crimes

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Gold Coins Offering Huge Bargains in Today’s Trade Atmosphere

The World’s Fair of Money is underway! All that glitters isn’t always old gold coins   By Jim Bisognani – NGC Weekly Market Report ……   The so-called dog days of summer are at hand. Although the overall coin market has been, at best, status quo for most of the year, the metals market and gold coins truly […]

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Former police chief, Doug Davis, named anti-counterfeiting director of the Anti-Counterfeiting Educational Foundation

Current Director Beth Deisher will step down in September after successful anti-counterfeiting work
(Rosemont, Illinois) August 13, 2019 — Doug Davis, founder of the Numismatic Crime Information Center and a former Police Chief of the Dallas suburb of Pantego, Texas, has been selected by the nonprofit Anti-Counterfeiting Educational Foundation (ACEF) to be its next director of Anti-Counterfeiting.
Davis has more than 30 years of experience in law enforcement and in helping to combat numismatic-related crimes

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Community Voice Responses: Aug 27, 2019

From the August 2 Numismatic News E-Letter
Should the IRS be taxing Precious Metals IRA purchases?
Here are some answers sent in from our E-Newsletter readers.
 
Yes, tax the IRA bullion at time of purchase then eliminate tax at time of sale like the Roth IRA.    
Joe Gorak
Carlsbad, Calif

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Managers of California-Based Global Gold Exchange Plead Guilty to Money Laundering

By United States Attorney’s Office, Southern District of California …… Global Gold Exchange, LLC and its managers, Jeffrey Morrow and Richard M. Owen, pleaded guilty in federal court on August 2 to multiple financial crimes, admitting that they laundered money through their unlicensed money transmitting business by falsely reporting cash transactions as sales of “gold” […]

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Mexican Mint $2.5 Million Gold Coin Robbery Days After Brazil Gold Heist

Over $2.5 Million in Gold Coins Taken From Casa de Moneda   By CoinWeek News Staff …. Yesterday in Mexico City, two men (one of them armed) robbed a branch of the Casa de Moneda of more than $2 million worth of commemorative gold coins and other valuables. According to the Secretary of Public Security […]

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New secrets of S.S. Central America treasure revealed in Bowers-Manley book

Impressive book provides previously undisclosed information about fabulous Gold Rush sunken treasure of fabled “Ship of Gold”
(July 29, 2019) — Never before revealed information about the greatest American treasure ever found, the tons of California Gold Rush-era coins, ingots, and gold dust recovered from the 1857 sinking of the S.S

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Gold & Precious Metals: Ninth Circuit Rules for CFTC in Fraud Case Against Monex

By Commodity Futures Trading Commission …. On Thursday, July 25, the United States Court of Appeals for the Ninth Circuit reinstated its anti-fraud enforcement action against Monex Deposit Company and its affiliated companies and principals. The Ninth Circuit held that the district court erred in dismissing the case, and ruled that the CFTC’s charges of […]

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Precious Metals Have Re-Awakened

The market for both bullion and collectible coins is gaining steam, with interest in coins enjoying a boost brought about by the recent gains in both gold and silver bullion prices.
Bullion coins and coins impacted directly by their intrinsic value are getting a boost, especially in lower grades where intrinsic value is everything. Here there is demand due more to investor interest than to collectors

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Two Former Precious Metals Traders Admit To Manipulation at New York Banks

By Commodity Futures Trading Commission …… On Thursday, July 25, the U.S. Commodity Futures Trading Commission issued two orders filing and settling charges against former precious metals traders at separate financial institutions who entered into formal cooperation agreements with the CFTC’s Division of Enforcement and admitted to spoofing and manipulative conduct in the futures markets. […]

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Ohio Nixes Coin/Bullion Sales Tax Exemption—Reducing Future Tax Collections

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

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Ohio budget kills sales-tax exemption

ICTA member Dave Miholer (Executive Coin Company, Stow, Ohio) brought to our attention in May that the Ohio 2020–2021 budget eliminated the sales-tax exemption on the purchases of investment metal bullion and investment coins. The budget plan also directs the state to begin collecting sales taxes on interstate purchases, due to the requirements of South Dakota vs

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Tuvalu: The Hulk features on seventh silver coin in Marvel Comics bullion series

The government and treasury of Tuvalu have released the seventh collector silver crown coin in their ongoing series which features the superheroes that are part of the Marvel Comics franchise. The latest coin highlights the story of the Hulk, a character which first appeared in the debut issue of The Incredible Hulk in May 1962

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Tuvalu: The Hulk features on seventh silver coin in Marvel Comics bullion series

The government and treasury of Tuvalu have released the seventh collector silver crown coin in their ongoing series which features the superheroes that are part of the Marvel Comics franchise. The latest coin highlights the story of the Hulk, a character which first appeared in the debut issue of The Incredible Hulk in May 1962

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Gold & Precious Metals News: Ohio Budget Kills Sales-Tax Exemption for Bullion, Coins

By Industry Council for Tangible Assets (ICTA) …… ICTA member Dave Miholer (Executive Coin Company, Stow, Ohio) brought to our attention in May that the Ohio 2020–2021 budget eliminated the sales-tax exemption on the purchases of investment metal bullion and investment coins. The budget plan also directs the state to begin collecting sales taxes on […]

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Ohio budget kills sales-tax exemption

ICTA member Dave Miholer (Executive Coin Company, Stow, Ohio) brought to our attention in May that the Ohio 2020–2021 budget eliminated the sales-tax exemption on the purchases of investment metal bullion and investment coins. The budget plan also directs the state to begin collecting sales taxes on interstate purchases, due to the requirements of South Dakota vs

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Gold price jump has potential for gold-selling scams, experts caution

(Temecula, California) June 26, 2019 — With the recent, rapid jump in the price of gold, investors should beware of scam artists trying to lure them with urgent claims of too-good-to-be-true low prices and quick, guaranteed bullion market profits, cautions leaders of the Accredited Precious Metals Dealer program, a division of the nonprofit Professional Numismatists Guild.
“Don’t make a hasty decision based on slick advertisements

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Gold Price Jump Increases Potential for Gold-Selling Scams, Experts Caution

With the recent, rapid jump in the price of gold, investors should beware of scam artists trying to lure them with urgent claims of too-good-to-be-true low prices and quick, guaranteed bullion market profits, cautions leaders of the Accredited Precious Metals Dealer (APMD) program, a division of the nonprofit Professional Numismatists Guild (PNG). “Don’t make a […]

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Gold price jump has potential for gold-selling scams, experts caution

(Temecula, California) June 26, 2019 — With the recent, rapid jump in the price of gold, investors should beware of scam artists trying to lure them with urgent claims of too-good-to-be-true low prices and quick, guaranteed bullion market profits, cautions leaders of the Accredited Precious Metals Dealer program, a division of the nonprofit Professional Numismatists Guild.
“Don’t make a hasty decision based on slick advertisements

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Bowers on collecting: Focus on 20-cent pieces

I continue to discuss topics proposed a few weeks ago by readers. Next up is this from Matt from Santa Rosa, California:
When I read about the 20-cent coin that was issued by the Mint only between 1875 and 1878 I hear about how no one liked the coin and they did not circulate

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Fabled S.S. Central America treasure reveals extremely rare, Gem 1856-S dime

Retrieved in latest sunken treasure recovery, top rarity is now graded PCGS MS-65 CAC, tied for finest known
(Brea, California) June 14, 2019 — The S.S

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Why Are Americans Dumb Precious Metals Traders?

When it comes to buying and selling physical precious metals, it seems like the majority of Americans tend to get their timing wrong.
India and China are the world’s two largest gold and silver consuming nations.  Invariably, residents in those nations buy precious metals when prices are low

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FDIC backs down on “high-risk” merchant list

The FDIC has fully reversed its position on a list of merchant categories thought to present a high risk for payment fraud. In a May 29 article, the Wall Street Journal reports that a suit brought by payday lenders against the Federal Deposit Insurance Corporation has been settled and that banks must no longer rely on the FDIC’s “high-risk” list, which included coin dealers

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Beware of grossly overpriced gold coins, cautions Professional Numismatists Guild

(Temecula, California) May 28, 2019 — If you’re purchasing modern precious metals coins strictly for their silver, gold. or platinum content, beware of significantly overpaying simply because the coins may be housed in fancy holders or accompanied by autographs of celebrities or the coins’ designers, cautions the Professional Numismatists Guild (PNG)

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Kansas governor signs bill providing sales-tax exemption

On Thursday, May 16, 2019, Kansas governor Laura Kelly signed into law House Bill 2140, which provides a sales-tax exemption on sales of gold and silver coins and on all gold, silver, platinum, and palladium bullion.
“The outcome is not everything we started with in the original bill, but certainly better than where we were,” said Dean Schmidt (Dean Schmidt Rare Coins)

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United States Mint James Madison presidential silver medal released on May 6

Washington — The United States Mint released presidential medals struck in .999 fine silver in honor of the nation’s fourth president, James Madison, on May 6 at noon EDT

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United States Mint James Madison presidential silver medal released on May 6

Washington — The United States Mint released presidential medals struck in .999 fine silver in honor of the nation’s fourth president, James Madison, on May 6 at noon EDT

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Dillon Gage to Supply Gold for Asset-Backed Digital Currency

Singapore-based GoldGram Pte. Ltd., creator of the new asset-backed token GGC GoldGramCoin®, and Dallas-based Dillon Gage, a world leader in physical precious metals trading and technology, today announced that they have entered into a strategic global alliance through which Dillon Gage will supply the physical gold that underlies GGC. GoldGram earlier this week announced its […]

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Existing Coin/Bullion Sales Tax Exemptions Under Attack

Right now, five states do not impose any state sales taxes (Alaska, Delaware, Montana, New Hampshire, Oregon) and 32 have complete or partial sales tax exemptions on the in-state retail sales of precious metals bullion and rare coins.
On July 1, West Virginia’s sales tax exemption on precious metals bullion and rare coins go into effect.  It is possible that, before the end of 2019, there may be another state that adopts such a sales tax exemption

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Owners of Rust Rare Coins Receive Criminal Indictments for Alleged Ponzi Scheme

By CoinWeek News Staff …. On Wednesday, May 8, a federal grand jury in the U.S. District Court for the District of Utah returned six criminal indictments against a family at the middle of an alleged $200 million Ponzi scheme. Husband and wife Gaylen Dean Rust and Denise Gunderson Rust of Layton, both 59 years […]

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Mayflower Quadricentenary Numismatic Program: Does it matter that it is not a congressionally mandated commemorative?

In 2020, the U.S

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See the Amazing Eureka Gold Nugget, 2nd Largest Ever Found in Arizona!

Always find time in your day to stop and eat a sandwich. That’s the lesson we learned when we sat with Utah coin dealer Robert Campbell so he could show us this impressive gold nugget that was discovered in a placer mine in the Huachuca mountains of Arizona. The nugget appears in its original form, […]

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Gold & Silver PAC News – April/May 2019: Online Sales Tax Collection

By John Villavicencio for the Gold & Silver PAC ……   Gold & Silver News From the Political Coordinator   April showers bring… taxes The tax filing deadline for 2018 has come and gone, but what do you need to know for your 2019 taxes? If you sell on eBay or do business in California, keep […]

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Denver Coin Expo returns to National Western Complex

Over 100 exhibitors from around the country will join together for one of the largest and oldest coin shows in the Rocky Mountains this spring
Denver, CO — This spring, the Denver Coin Exposition is coming to the National Western Complex from May 9-11. It will be open to the public Thursday and Friday from 10 a

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Oregon Man Sentenced to Seven Years Federal Prison for Defrauding Investors in Ohio Gold Mine

By Federal Bureau of Investigation ……   Harry Dean Proudfoot III, 79, formerly a resident of Tigard, Oregon, was sentenced on Tuesday, April 9, to 84 months in federal prison and three years’ supervised release for running a fraudulent gold mining investment scheme and stealing approximately $4 million from more than 140 investors. According to […]

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United States Mint 24-karat gold Proof coin goes on sale on April 12

Washington — The United States Mint will open sales for the 2019 American Buffalo one-ounce gold Proof coin (product code 19EL) on April 12 at noon EDT.
The American Buffalo one-ounce gold Proof coin is a 24-karat gold Proof coin struck by the Mint and is the collector version of the official United States Mint American Buffalo one-ounce gold bullion coin

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United States Mint 24-karat gold Proof coin goes on sale on April 12

Washington — The United States Mint will open sales for the 2019 American Buffalo one-ounce gold Proof coin (product code 19EL) on April 12 at noon EDT.
The American Buffalo one-ounce gold Proof coin is a 24-karat gold Proof coin struck by the Mint and is the collector version of the official United States Mint American Buffalo one-ounce gold bullion coin

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Canada: Incused Maple Leaf gold and silver bullion strikes and “Moose” themed gold bullion coins launched

The Royal Canadian Mint has launched (1st April) three new coins geared toward precious metals investors looking for bullion coins that stand out from the competition. Among these are double-incused gold and silver Maple Leaf bullion coins and a new themed bullion coin entitled “Call of the Wild,” which is the Mint’s newest 99

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Former Precious Metals CEO in Contempt of Court for Failure to Pay Restitution to Fraud Victims

By Commodity Futures Trading Commission …… The U.S. Commodity Futures Trading Commission (CFTC) announced today that on March 18, 2019, District Judge James Lawrence King of the U.S. District Court for the Southern District of Florida entered an order finding Coral Gables, Florida resident Robert Escobio in contempt (“Contempt Order”) for failing to pay more […]

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MA-Shops: Gold From a Numismatic Perspective

By Joël van Dam – Owner, Joëlnumismatics, for MA-Shops.com …… In this blog, I will discuss the subject of gold from a numismatic perspective. Above all, gold is a chemical element, found in the periodic table with atomic number 79 and the symbol “Au” (from the Latin for gold, aurum). It is a naturally occurring […]

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Mark Olsen Mining Company to Pay Over $3.6 Million to Fraud Victims: CFTC

By Commodity Futures Trading Commission …… The Commodity Futures Trading Commission (CFTC) announced today that a federal court in Florida has entered an Order of Final Judgment by Default (Final Judgment Order) and an Order Granting Motion for Final Default Judgment (collectively, Orders), against Betty Lea Grimes of Boca Raton, and the precious metals firm […]

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CFTC: Federal Court Orders Precious Metals Dealer to Pay Over $2.3 Million for Fraud

By Commodity Futures Trading Commission ….. The Commodity Futures Trading Commission (CFTC) today announced that the U.S. District Court for the Southern District of New York entered an Order of Default Judgment and Permanent Injunction against Royal Metals Group, LLC (RMG), and its member, manager and part owner, Chelsea Gless of Iowa (collectively, “defendants”) for […]

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ICTA Executive Director Jimmy Hayes discusses silver and gold bullion taxes in U.S. states with James Anderson of SD Bullion

On last week’s Metals and Markets podcast, SD Bullion’s James Anderson talked with Industry Council for Tangible Assets (ICTA) Executive Director Jimmy Hayes about changing bullion sales tax rates for gold and silver in various U.S

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Update on coins, precious metals sales tax exemptions

As of right now, 37 states have either no state sales taxes at all (Alaska, Delaware, Montana, New Hampshire, and Oregon) or have complete or partial sales tax exemptions on the in-state retail sales of coins and precious metals bullion. That may soon change.
All ten of the most populous states and 17 of the 20 most populous have such exemptions, so that well over 80% of the nation’s residents have such an exemption where they live

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Why you want lower gold and silver prices

I advocate that the prudent person should allocate a minor percentage of their investment portfolio or net worth to the ownership of bullion-priced physical gold and silver. In my mind, this is buying “wealth insurance.”
The concept behind doing so is that the value of gold and silver tends to move counter to the changing values of paper assets such as stocks, bonds, and paper currencies

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Bullion & Precious Metals: The Chinese Gold Rush of 2019

By Blanchard & Company …… Beigao, a town of roughly 100,000 people in the Putian municipal area, the city’s main street boasts 20 gold shops. Yes: 20 gold shops in a town of 100,000 Chinese citizens. Economic advances in China in recent decades opened the door to a rising and growing middle class with newfound […]

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Precious Metals Dealer Ordered to Pay More Than $8 Million for Fraud and Misappropriation

By Commodity Futures Trading Commission ….. The Commodity Futures Trading Commission (CFTC) announced on March 4 that a Florida federal court ordered Carlos Javier Ramirez and his companies, Royal Leisure International, Inc. (RLI) and Gold Chasers, Inc. (GCI), to pay restitution and civil monetary penalties for fraudulently soliciting customers to purchase physical gold and misappropriating […]

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Court Imposes $15.7 Million Penalty, Lifetime Ban Against Precious Metals Dealer Hannes Tulving

By Commodity Futures Trading Commission ….. In 2015, the CFTC Charged California Resident Hannes Tulving, Jr. and His Firm with Misappropriation and Fraudulent Solicitation in a Precious Metals Scheme that Defrauded at Least 381 Customers Nationwide * * * The Commodity Futures Trading Commission (CFTC) announced today that Judge Robert J. Conrad Jr. of the […]

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IDS of Texas Expands Precious Metals Depository to Meet Demand

New site to accommodate increased storage demand for gold, silver and coins With the construction of a tailor-made facility in Dallas completed, International Depository Services (IDS) of Texas – a privately-owned division of Dillon Gage Metals – expands its footprint to meet the increased demand for precious metals storage in the Lone Star state. Texas’ […]

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Precious Metal News: The Problem With Venezuela’s Gold

By Everett Millman – Gainesville Coins …… If you haven’t noticed, Venezuela is in absolute turmoil. The growing calamity has economic, political, and humanitarian dimensions that are beginning to spread across South America. Aside from a growing refugee crisis and shortages of food and medicine, the country is dealing with political upheaval and runaway inflation. Its […]

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Gold Mining Companies Consolidate as Mine Output Diminishes

By Blanchard & Company …… It’s getting prohibitively difficult to source gold deposits. Mining companies are learning that the easy-to-access gold is all but gone. Now, finding gold means greater exploration costs. Even when gold mining concerns make a find the cost of getting the location up to production is exorbitant. Therefore, the mining companies […]

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New Preamble to the Declaration of Independence platinum Proof coin available today at noon

Washington — The United States Mint will release the second coin in its Preamble to the Declaration of Independence Platinum Proof Coin Series today at noon EST. Launched in 2018, this three-year platinum Proof coin series features all new obverse (heads) designs created concurrently by one designer and a new common reverse (tails) design

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New Preamble to the Declaration of Independence platinum Proof coin available today at noon

Washington — The United States Mint will release the second coin in its Preamble to the Declaration of Independence Platinum Proof Coin Series today at noon EST. Launched in 2018, this three-year platinum Proof coin series features all new obverse (heads) designs created concurrently by one designer and a new common reverse (tails) design

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Precious Metals & Bullion News: Press, Public Criticize India Gold Scheme

By Everett Millman – Gainesville Coins …… About five years ago in India, the newly-elected government of Prime Minister Narendra Modi continued with the previous administration’s new legal measures designed to ease the imbalance of gold flows into the country. Demand from Indian households (many of them rural farmers) brings hundreds of tons of gold across […]

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Certain coins hint at better things to come

Has the long crawl back begun? It depends on what you consider to be the goal post. As much as most collectors don’t like to associate the spot price of precious metals with that of collectible coins, the fact is coins and metals often follow closely in tandem. Right now, the spot price of gold continues to trade in a very tight range that comes near but fails to challenge the $1,300 an ounce resistance level, while silver surpassed $15 an ounce several weeks ago and has continued to hold its ground ever since

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Veteran Dealer: Gold’s Fundamentals Never Looked Better

“Gold is starting 2019 with increasing price support and growing demand. I believe gold will reach its next major resistance level of $1,300 very soon, and after a short period of time should break above,” stated Barry Stuppler of Woodland Hills, California, President of the Accredited Precious Metals Dealers (APMD), a division of the Professional […]

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CFTC Charges Additional Defendants in $200 Million Precious Metals Ponzi Scheme

By Commodity Futures Trading Commission ….. The Commodity Futures Trading Commission (CFTC) and the Utah Department of Commerce, Division of Securities, through its Attorney General (State of Utah) filed an amended complaint alleging that Denise Gunderson Rust (Denise Rust) and Joshua Daniel Rust (Joshua Rust) actively participated and aided and abetted, in a precious metals […]

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Gold & Precious Metals News – India May Loosen Rules On Bullion Banking

By Everett Millman – Gainesville Coins …… India is routinely the world’s leading country in terms of annual gold demand. Collectively, the Indian public holds an astounding amount of physical gold—over 20,000 metric tons, by most estimates! For context, that’s more than double the gold reserves of the United States, which is itself more than double […]

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GoldDealer.com Gold Market Report – Gold Ponders Its Future

Commentary for Friday, November 30, 2018 (www.golddealer.com) By Richard Schwary of California Numismatic Investments Inc ……   Gold closed down $3.90 at $1,220.20 today. Still not much happening if you consider that gold closed Monday at $1,229.80. The best aspect, as far as the gold community is concerned is simple and positive. For now the FOMC […]

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Anti-Counterfeiting Task Force moves to foundation

The Industry Council for Tangible Assets and the Anti-Counterfeiting Educational Foundation have jointly announced an agreement to transfer the Anti-Counterfeiting Task Force and the position of director of counterfeiting from ICTA to the non-profit 501-C-3 foundation.
The transfer became effective November 15

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CFTC, State of Utah Charge Precious Metals Dealer in $170 Million Ponzi Scheme

By Commodity Futures Trading Commission …..   The Commodity Futures Trading Commission (CFTC) and the Utah Department of Commerce, Division of Securities, through its Attorney General, jointly filed a civil enforcement action in the U.S. District Court for the District of Utah, Central Division, against Defendants Gaylen Dean Rust (Rust) and Rust Rare Coin, Inc. […]

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Precious metal industry leaders APMEX and Sprott launch OneGold, first online marketplace to securely buy, sell, and redeem digital gold and other precious metals

OneGold marketplace built to meet unique needs of precious metal investors, reflecting APMEX and Sprott’s decades of experience and deep knowledge
OneGold’s digital gold combines key investment benefits of physical gold with those of blockchain-based digital assets
Investors who have bought or considered buying precious metals or cryptocurrencies are encouraged to learn more and create a free account today at OneGold.com
Oklahoma City — (Business Wire) — APMEX, Inc

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Morgan silver dollars fluctuate only sideways

The ups and downs of the coin market continue. If Morgan silver dollars are any collectible coin market coincidence barometer, it suggests little if any appreciation is taking place. A number of common to scarce Morgan dollar dates, especially in Mint State 64 to 66, continue to decline

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Old silver bars might be collectible

Perhaps the dream of every numismatist and precious metals investor is the opportunity to purchase something at face value or a bullion-related price that can later be sold at a collector premium.
Such instances occur more often than most people realize. In some instances, once information about low mintages becomes known, there tends to be a surge in buying interest

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Buyers return to gold coin market

Many classic American gold coins can be purchased for little more than bullion melt value in current market conditions. These coins combine bullion investment and numismatic interest.
When the price of gold vaulted over $1,200, it sparked a return to the physical gold market of former customers along with new retail buyers, according to officials of the Professional Numismatists Guild

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Dealers group reports physical gold buyers returning

(Temecula, California) October 19, 2018 — The recent rise in gold’s price has sparked a return to the physical gold market of former customers along with new retail buyers, according to officials of the Professional Numismatists Guild (PNG). The Temecula, California-based PNG is a non-profit trade association composed of many of the country’s top rare coin and bullion coin dealers

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Silver Stacking – Collecting Silver Rounds and Bars

By Al Doyle for CoinWeek ….. Whether they admit it or not, silver stackers get excited about watching their holdings grow by anywhere from a few pre-1965 dimes to a few 100-ounce bars at a time. While “stacking” is enjoyable, it’s possible to get two forms of entertainment from the process. Thousands of different one-ounce silver rounds and bars […]

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ICTA names new director and officers and elects new board members

The Industry Council for Tangible Assets (ICTA), the national trade association for dealers of rare coins, currency, and precious-metals bullion, announced that former congressman James “Jimmy” Hayes has been appointed the executive director of the organization. Hayes will also continue his previous work as a lobbyist for the rare-coins and precious-metals hobby and industry

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The Mike Fuljenz Metal Report on Gold and Silver – September 26, 2018

Gold and Silver Report by Mike Fuljenz – Universal Coin & Bullion …… Barron’s “Rediscovers” Gold Gold has remained within 1% ($12) of $1,200 every day for the last five weeks, unable to rise above $1,212, but also firmly staying above $1,188. This week, the Federal Open Market Committee (FOMC) meets, and they are widely expected to raise short-term […]

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Rocket flight SL-11 launches an opportunity to touch space with your own hands

On the day when the world learned the name of the first private lunar passenger, who paid a hundred million dollars for the honor, new American startup Decron Club made a step realizing towards thousands of dreams “to touch space for a dollar.”
Spaceport America, NM — On Monday, September 17th at 8:09 a

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