Gold Coins of the Latin Monetary Union (LMU)

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The Euro currency was not the first attempt in Europe to create a unified currency and trade structure.

In the mid-19th century there was an attempt to unify several different European currencies under a structure called

the Latin Monetary Union (LMU). During this time most European countries were still using coinage and currency made from gold and silver. The LMU was established in 1865 and officially disbanded in 1927.

A treaty in 1865 between France, Belgium, Switzerland, and Italy formed the Latin Monetary Union (LMU). The purpose of the treaty was the provide a way to facilitate trade between the countries in a standard way.

They agreed to a combined gold and silver bimetalism standard with a fixed gold-to-silver ratio of 15.5 to 1. A single LMU Franc represented 4.5 grams of fine silver or .290322 grams of fine gold.

The treated was signed in December of 1865.

The LMU standards were based on the gold French Franc. The gold Franc had been introduced by Napoleon I in 1803. It was struck in .900 fine gold with denominations of 5, 10, 20, 40, 50 and 100 Francs.

Smaller denominations where struck in silver with denominations of 20 centimes, 50 centimes, 1 franc, 2 francs and 5 francs. The largest of the silver coins, the 5 franc was struck in .900 fine silver. Overall, the coin was minted to weigh 25 grams and contained 0.723391258218528 troy ounces of pure silver.

The 20 Franc gold coin was struck on a 21mm planchet made of an alloy containing 90% gold and 10% copper. Each 20 Franc gold coin weighted a total of 6.45 grams, containing 5.806 grams of pure gold. The remaining .644 grams being copper provided additional strength and durability for the coins in circulation.

The treaty established the following coinage & currency standards:
Silver (fineness 0.835): 20 centimes, 50 centimes, 1 franc, 2 francs
Silver (fineness 0.900): 5 francs
Gold (fineness 0.900): 5 francs, 10 francs, 20 francs, 50 francs, 100 francs

In 1867, the original 4 countries in the Latin Monetary Union (LMU) were joined by Greece. Spain and Romania considered joining and both made attempts to conform their currencies to the LMU standard.

Austria-Hungary rejected bimetallism but agreed to a separate treaty with France in 1867 based on the gold-standard and began minting some of it’s gold coins on the LMU standard. Austria-Hungary began to mint it’s 4 and 8 gulden (florin) coins to the same specifications as the French 10 and 20 francs.

Other countries later began adopting the system without formally joining the treaty.

In 1873, the LMU dropped bimetallism and moved entirely to a gold standard of 1 franc = 0.290322581 grams of gold.

Countries that adopted the standards developed by the LMU included:

French Colonies: Including Algeria
Peru: Adopted the franc system in 1863.
Colombia & Venezuela: Adopted the franc system in 1871.
Finland: Adopted the franc system in 1877.
Serbia: Adopted the franc system in 1878.
Bulgaria: Adopted the franc system in 1880.
The Danish West Indies were placed on the LMU franc standard in 1904 but did not join the Union itself.

SD Bullion Silver at Spot Price Deal

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The SD Bullion Silver at Spot Price Offer is for a single 10 oz silver bar at spot price.

10 oz Proclaim Liberty Silver Bar Features

  • Contains 10 troy ounces of .999 fine silver
  • Features the iconic Liberty Bell on side one
  • Boasts the Constitution of the United States on side two
  • Minted by the world-renowned Republic Metals Corporation
  • Ships in a protective, plastic sleeve
  • Approved for Precious Metals IRA’s

Use the code SILVER23 after you add the Proclaim Liberty silver bar to your cart to update the pricing to silver at spot price.

Take advantage of this limited time opportunity to buy silver at spot price with no premium. Add to your silver stack at the best price possible, place your order today!

This is a limited time offer, and limited to one bar per household/shipping address/customer account.

See our Silver at Spot Price Deals page to see a comprehensive list of all of the available spot price offers from trusted and reputable online bullion dealers.

Silver Gold Bull Silver at Spot Price Deal

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Silver Gold Bull Silver Spot Price Offer

The Silver Gold Bull silver at spot price deal includes a 10 oz Silver Bar that is custom minted by Sunshine Minting.

The obverse of the bar contains the Silver Gold Bull logo with a charging bull and the words “999 Fine Silver 10 Ounces”.

The reverse of the bar contains Silver Gold Bull logo and the words “Build your wealth in ounces” with the bull logo ghosted in the background.

For a limited time buy this 10 oz silver bar right at spot price through the SilverGoldBull.com Website. Your order will ship for free with full insurance and tracking.

Every silver investor dreams of being able to buy their silver at spot price, and for a limited time we are giving you the opportunity to invest in our new 10 oz silver bar at spot price. This bar has been produced by Sunshine Minting, the world’s largest and most reputable private refiner of precious metals. The bar features a variety of finishes with our bull logo ghosted in the background on the back of the bar.

Take advantage of this limited time opportunity to buy silver at spot price with no premium. Add to your silver stack at the best price possible, place your order today!

This is a limited time offer, and limited to one bar per household/shipping address/customer account.

See our Silver at Spot Price Deals page to see a comprehensive list of all of the available spot price offers from trusted and reputable online bullion dealers.

 

Where can I buy silver at spot price?

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A lot of first time precious metals investors want to know where they can buy silver at spot price.

There are some trusted and reputable online bullion dealers that have a silver at spot price offer. Several of the dealers include free shipping with their spot price offer.

Many of the offers where you an buy silver at spot price are for 10 troy ounces of silver. The ten troy ounces of silver may come in the form of generic rounds or a single 10 ounce bar or ingot.

Why Do Some Dealers Sell Silver at Spot Price?

The dealers from whom you can buy silver at spot price via a special offer do so because they hope it will attract new customers. The silver at spot price offer is an incentive. It’s an incentive for you to invest in precious metals at a great price. It’s also an incentive for the dealer to show off their customer service and order fulfillment skills.

Which Dealers Offer Silver at Spot Price Deals?

The dealers that offer silver at spot price deals include:

DealerSilver at Spot Price Offer

Silver Gold Bull Buy a 10 oz silver bar at spot price with free shipping
SD Bullion Buy a 10 oz silver bar at spot price
Monument Metals Offer 1: (10) 1 oz Silver Rounds at Spot Price w/Free Shipping
Offer 2: $10 FV Pre-1965 Junk Silver Coinage at Spot Price w/Free Shipping
JM Bullion (10) 1 oz Silver Rounds at Spot Price w/Free Shipping
Provident Metals (10) 1 oz Silver Rounds at Spot Price w/Free Shipping

These are just some of the silver at spot price deals offered by trusted and reputable online bullion dealers. For a complete list, including other discounted starter packs, check out our Buy Silver At Spot Price Deals page.

Lower spot price causes sell out of US Mint supply of Silver Eagles

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The US Mint reported last week that they have temporarily run out of stock of 2018 American Silver Eagle Coins.

The temporary sell out is likely due to the recent drop in silver spot price.

It’s unclear whether it’s consumers driving the sales demand of the Silver Eagle coins or if it’s dealers trying to lock in long-term stock at lower prices.

Silver spot price typically dips in the summer months to annual lows. Silver prices often through the fall and into winter as manufacturers and industry begin sorting out their supply for 2019 production.

Monument Metals and Provident Metals Offering High Buy Back Prices on 2018 Proof Palladium Eagle Coins

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The US Mint is releasing the 2018 1 oz Proof Palladium Eagle coins on its website on September 6, 2018 at the retail price of $1,387.50.

Bullion distributors have had limited access to purchase the coin through wholesale channels with the mint event though demand for the coin has been high.

Two major dealers are offering to buy the coin from purchasers at $100 over the retail price.

The announcements from both Provident Metals and Monument Metals came Wednesday.

In an email sent by Monument Metals they describe the purchasing and buy back process.

For both dealers it is necessary to notify them with the purchase information. They will provide a pre-paid shipping label which you will place over the shipping label from the US Mint without opening the package.

The process is described in more detail in this email sent by Monument Metals.

eBay Bucks Bonus Promotion earn 10% 9/4-9/5

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eBay launched another eBay Bucks Bonus promotion this morning. This time around the eBay Bucks Bonus amount is raised to 10% on purchases over $100.

Even though gold and silver prices are down dealer premiums have remained steady or increased slightly. The usual net cost gold coins below spot price deals that can often be found during eBay Bucks promotions on Gold Francs and Gold Sovereigns don’t seem to be available this time around.

There are some good deals on American Silver Eagle rolls, 10 oz lots of silver rounds or bars, and a lot of deals on 40% and 90% Junk Silver around spot price. A couple even net below silver spot price when factoring in the eBay Bucks Bonus.

eBay Bucks and Bullion Frequently Asked Questions (FAQ)

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eBay Bucks and Bullion Frequently Asked Questions

What is eBay Bucks?

eBay Bucks is a rewards loyalty cash-back type program run by eBay that gives a 1% credit on eligible purchases that can be used towards future purchases.
eBay Bucks credits are earned throughout the financial quarter up to a maximum of $500 in eBay Bucks per quarter. eBay Bucks are available to spend on eBay at the beginning of the quarter after they are earned. Earned eBay Bucks must be spent during the first month of the quarter after they are earned.
Periodically throughout the year eBay runs promotions that increase the earnings amounts of eBay Bucks. Typical promotions have increased the eBay Bucks earnings to 8%, 10% or 15% above the base amount of 1%.
Items listed in certain categories, including the Bullion category and subcategories are ineligible for earning eBay Bucks. However, many of the trusted and reputable dealers that sell bullion products on eBay will list bullion products for sale in alternate categories that do earn eBay Bucks.

How can I earn eBay Bucks when buying Bullion?

The base 1% reward can be earned by buying bullion that is listed outside the Bullion category, including those listed as Silver Bullion or Gold Bullion. Items in those categories are not eligible for earning eBay Bucks.
That being the case, there are lots of bullion products that are listed in alternate eBay categories including other subcategories in Coins & Paper Money.
Not all items are eligible. Sometimes items that are cross-listed in multiple categories that includes the Bullion categories.
The best way to determine if an item is eligible for earning eBay Bucks is to look at the item page. In most cases, an eligible item will display the amount of eBay Bucks that you can earn, similar to this:
Sunshine Mint Silver Rounds ebay Bucks
Notice at the bottom of the image you can see the green “Bucks” logo with the earning amount.

How often are eBay Bucks promotions run?

Historically, eBay Bucks promotions are run several times throughout each financial quarter. They are sometimes run several times each month. There’s no set schedule for when an eBay Bucks promotion is run. Nor is there any schedule for how much of a bonus will be offered on top of regular earnings. The promotions are offered at the sole discretion of eBay.

How do I sign up for eBay Bucks?

If you already have an eBay Account you can sign up for eBay Bucks by visiting the eBay Bucks signup page. If you do not already have an eBay account, you must first create an eBay account then signup separately for eBay Bucks.

How can I find bullion items that are eligible for eBay Bucks?

We maintain an ongoing list of popular bullion items that are eligible for earning eBay Bucks. Our list of eBay Bucks eligible bullion items includes gold bullion, silver bullion and junk silver items.
Sometimes sellers will change an item’s category after the listing has posted. Be sure to look for the eBay Bucks earning amount on the listing to be sure an item is eligible.

Can I spend my eBay Bucks on bullion?

Yes. eBay Bucks can be spent on any bullion listings on eBay.

How can I avoid counterfeit bullion on eBay?

Always buy bullion on eBay from trusted and reputable dealers. There are certain things to look for that are red flags that an item could be counterfeit. Don’t risk it and stick with known sellers with high feedback and recent activity.

Why do online bullion dealers have different prices for cash or credit cards?

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It can be confusing for first time investors looking to buy silver rounds online. Whether looking for silver bars, silver rounds, or government minted products like American Silver Eagles on Canadian Silver Maple Leafs, the pricing that online bullion dealers show is confusing.

Silver and gold bullion prices are based on “spot price”. Spot price is the price per ounce that the precious metals are trading at on the COMEX commodities exchange.

Online bullion dealers and many local coin stores will base their pricing on spot price. Spot price is the per ounce value of the silver or gold bullion.

Dealers then add a premium on top of the spot price. One way to think of the premium is that it includes the cost of selling, marketing and other operating costs for the dealer plus their profit margin.

Why do online bullion dealers charge different prices for different payment methods?

The cost of accepting different payment methods have differing costs. Generally speaking, payment methods like PayPal and Credit Cards cost merchants and online bullion dealers as much as 4% of the total cost of each transaction.

Cryptocurrency payment methods, which include services like Bitpay, allow dealers to accept Bitcoin, Litecoin, Ethereum and other cryto payment methods also charge merchants on a per transaction basis.

This can be confusing to first time precious metal buyers. Online bullion dealers pass the fees along to the buyer. This is standard practice throughout the industry and you will see these different prices reflected when you browse online bullion dealer websites.

The Cheapest way to Buy Silver Rounds Online

Many beginning precious metals investors look to buy silver rounds online. Silver rounds are popular because of their size, simple denomination, shape and the value they represent.

Generic Silver rounds also can be found with some of the lowest dealer premiums over spot price which makes them attractive to many investors, preppers and silver stackers.

The cheapest way to buy silver rounds from most online bullion dealers is to pay via check or money order. This may seem a bit backwards because most people have become accustom to paying for online purchases with credit cards.

When you buy silver rounds online with a check or money order you must mail the payment to the dealer. This can take up to a week for the dealer to receive the payment. Another week for the payment to clear. Then another week for the dealer to finalize the processing of the order and send out your purchase. It can take upwards of three weeks to month from the time you order until you receive your bullion purchase.

Many dealers have begun offering an e-check payment method which speeds up the process some. Paying for silver rounds with an e-check is basically an ACH transfer between your bank and the bullion dealer’s bank.

Paying with e-check eliminates the mailing time and some of the processing time associated with buying silver rounds with a check.

The Fastest way to Buy Silver Rounds Online

Most people who buy silver rounds online want to receive their purchase as quickly as possible. In order to receive your online bullion purchases quickly it means that you’ll need to pay with a payment method that incurs some additional cost. That means paying for your silver rounds with PayPal or Credit Card.

Paying for silver rounds online with PayPal or Credit Cards clears your payment the fastest. Payments are usually processed by the dealers within 24 hours. That means that your silver rounds are usually shipped by the dealer within a day of receiving your order and payment. Often your order will ship out the same or the next day after you place your order.

Benefits of Using a Credit Card to Buy Silver Rounds Online

While paying with PayPal or credit cards does incur an additional fee it does have several benefits.

Credit card and PayPal payments allow your bullion purchase to ship quickly so you will receive it faster than if you pay by check or money order.

Both credit card and PayPal payments also provide you, the buyer, with some security when you buy silver rounds online. PayPal and most credit cards provide a buyer protection guarantee that gives assurance that even if something happens your purchase is protected. Though, buying from a trusted and reputable dealer will also provide assurance. Reputable online bullion dealers aren’t going to risk their reputation on ripping off customers or bad customer service.

Reducing the Premiums You Pay When You Buy Silver Rounds Online

Another reason to use a credit card to buy silver rounds online is that you can earn cash back rewards, airline miles or other loyalty program points. Many credit card companies offer a card that can provide up to 2% cash back on purchases. This cash back reward helps to offset the credit card premium that you pay when you buy silver rounds online.

It is also possible to offset the premium cost when you buy silver rounds online by leveraging other cash back rewards programs. Programs such as eBay Bucks allow you to earn cash back rewards on eBay purchases that can then be used to buy silver rounds.

The normal cash back reward for eBay Bucks is 1% on the purchase price of items bought from listings in eligible categories. The Bullion category is excluded from earning the cash back reward from eBay Bucks, however, many reputable dealers will create alternate listings in other categories which allow you to earn the rewards when you buy silver rounds.

Several times per year eBay runs promotions where they increase the cash back earning of the eBay Bucks program. The promotional bonuses have historically been as high as 15%. Though it is far more common to see promotions of 8% to 10%. That cash back reward from eBay Bucks can offset your investment or be used in the future for additional silver bullion purchases.

Buy Gold Coins as a Store of Wealth

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buy gold coins

For anyone looking to hold gold as a store of wealth or even as a way of bartering in the event of economic collapse, the best gold coins to buy are the most popular and highly recognizable gold coins such as the Gold Eagle, Maple Leaf, and Krugerrand. These gold coins are highly recognized worldwide.

You can sell or exchange these gold coins at almost any coin shop anywhere in the world. Bulk bullion, including small bars in assay cards on the other hand, needs to be specially weighed and assayed by experts before being traded.

Premiums on gold coins increase when demand is high. In the early days of the last financial crisis that started back in 2008, premiums on gold bullion coins rose from 4% to over 10% while the price of gold dropped.

One of the most important factors when you buy gold coins is the premium you pay over spot price. With gold prices tapering off from their record highs in recent years demand for gold and silver bullion has been low. When demand is low dealer premiums drop.

Currently, dealer premiums on Random Year American Gold Eagle Coins have been as low as 2% over spot. There have been some dealers that have had premiums even lower. FindBullionPrices.com tracks premiums on gold coin prices across trusted and reputable bullion dealers.

With dealer premiums at record lows it is a great time to buy gold coins.

Buy Gold Coins for Financial Stability

Gold coins have been used as a store of wealth, as a means of exchange and currency for thousands of years.

A tube of American Gold Eagle coins is roughly the size of an average pill bottle. There are twenty American Gold Eagles in a mint tube. At current gold spot prices the melt value of a tube of Gold Eagles is roughly $25,000.

An American Gold Eagle Monster Box holds 25 tubes with 20 coins in each tube. A Monster Box of Gold Eagles is roughly the size of a shoe box and holds 500 gold coins.