Central Banks Continue to Buy Gold throughout 2021

FindBullionPrices.com
Central Banks Continue to Buy Gold

Last year was a banner year for Central Banks wanting to buy gold bars and silver.

Recent reports from the Reserve Bank of India and other countries have shown that gold and silver continue to be a safe haven store of wealth in times of rising inflation.

The central bank’s gold reserves jumped from 668.25 tons to 743.84 tons in September 2021. That’s the largest purchase that has been reported by the Indian central bank since 2009. This increases the bank’s gold portfolio by more than 11% compared to a RBI report from September 2020.

The Reserve Bank of India (RBI) also purchased 118 tons of silver in 2020 and 2021.

Economists believe that RBI is solidifying its portfolio by increasing its gold and silver inventory during a time when inflation is affecting all major fiat currencies worldwide. Buying gold has been a trend in central banks worldwide in recent years as economies continue to recover from shutdowns related to the coronavirus pandemic.

The central banks of Thailand, Brazil, Singapore and Russia also reported large gold purchases in 2021.

The Monetary Authority of Singapore registered 26 tons of gold was bought by their central bank between May and June.

With economic outlooks from the Federal Reserve bleak, showing that inflation has continued to burden the US Economy, regulators are anticipating multiple interest rate increases from the Fed in the coming months as an attempt to reign in the rapidly increasing prices of basic necessities.

Recent economic reports released from the US Government show that consumer spending at levels needed to sustain the economic recovery.

However, with rampant inflation driving prices of everyday items to higher prices, the day to day frustration most American’s feel at the grocery store and gas pump has pushed the Biden administration approval ratings to new lows. Many central banks are also preparing for the future.

Many countries are looking towards cryptocurrencies as a way to help facilitate trade, with China pushing other countries including the United States to adapt as a way to prevent future supply chain disruptions.

What Is COMEX?

FindBullionPrices.com

COMEX is a commodities futures exchange where the supply of future raw materials and other goods is traded for delivery in the future.

KEY HIGHLIGHTS

  • COMEX is the world’s largest marketplace for futures and options trading for precious metals.
  • It is a division of the Chicago Mercantile Exchange (CME).
  • Precious Metals futures are mostly used for hedging and are not typically delivered.
  • The COMEX acts as an intermediary.
  • Each Silver Futures contract is the equivalent of 10 American Silver Eagle Monster Boxes.


COMEX is an electronic trading platform that allows investors and brokers to trade futures contracts on a variety of consumable resources, both man-made and natural.


Oil, pork bellies, orange juice and precious metals like gold and silver are just some of the natural resources that are traded via futures contracts.


Gold, silver, platinum and other metal and mineral resources that are bought and sold with futures contracts.

One reason for the COMEX market to exist is to give manufacturers of both consumable and durable goods some indication of what the cost to manufacture their products will be in the future.


Many manufacturers use silver in many of the tiny electrical components that are used in everyday items such as cell phones, hearing aid batteries and solar panels. Silver is a great conductor of electricity.

On average, electric vehicles that are being built today each have roughly 2 troy ounces of silver.

Precious metals prices can be volatile.

Trading silver futures on the COMEX market allows manufacturers to secure mined resources like gold and silver at a fixed price months before it is needed for manufacturing.

This also affords mining companies some indication of what they will be paid for getting silver out of the ground.

This helps manufacturers to more effectively manage the upstream supply chain and be able to go to market with a product that is competitively priced.

History of COMEX

Commodity Exchange Inc. (COMEX) is the main exchange for silver, gold and platinum futures.

The exchange was founded in 1933 through the merger of four smaller exchanges based in New York.

Of the four smaller trading exchanges, gold and silver were mainly traded through the National Metal Exchange.

According to CME Group, more than 400,000 futures and options contracts trades are executed each day on COMEX.

This is the most active and liquid precious metals exchange in the world.

The trading activities of traders worldwide influence the spot price of silver and gold around the clock.

Today, COMEX is part of the New York Mercantile Exchange (NYMEX) and is an operating division of the CME Group.

Silver & Gold Futures Contracts

The current spot price is silver is the price per ounce of silver being traded for delivery sometime in the future.

The vast majority of the gold and silver contracts that are traded are never intended for physical delivery.
Only a small percentage of the gold and silver futures contracts that are bought and sold actually get delivered to a buyer.

Silver futures contracts are comprised of 5,000 troy ounces of silver to be delivered at a date specified in the contract.

The price of a contract is based on today’s silver spot price per ounce.

If silver spot price is trading at $20 per ounce then the cost to buy one full contract of silver would be $100,000.

The futures market is most often used by Commercial Banks, Wall Street trading firms, hedge funds and other investment focused companies as a hedging vehicle used to mitigate risk they have in other investments.

Less than 1% of gold and silver futures contracts ever get delivered. The majority of trades are made on the promise of delivery without any intent to deliver.

Taking physical delivery of silver contract is done quite often by brokers, clearing houses, private mints, sovereign government mints, large scale manufacturers and others.

It’s possible that private investors could also take delivery of a silver futures contract. Delivery of precious metals can be arranged via armored car services for shipment from COMEX Registered Vaults to your private home vault or other secure location.

How much silver is in 5,000 oz futures contract?

While 5,000 troy ounces sounds like a lot of silver, it’s the equivalent of just 10 Monster Boxes of American Eagle Silver 1 oz coins.

Each Monster Box of Silver Eagles contains 500 troy ounces.

Every month the US Mint mints millions of 1 oz silver Eagle coins.

That’s equivalent to around 2,000 Monster Boxes, or ten full silver futures contracts consumed by the Treasury each month just to produce their signature bullion coin.

Federal Open Market Committee 2023 Agenda

FindBullionPrices.com

The Federal Open Market Committee is the part of the Federal Reserve that is responsible for managing open market operations.

The FOMC uses the three primary tools to influence the direction of the economy.

The Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks.

This gives them control of the federal funds rate. The federal funds rate is the interest rate at which depository institutions (banks) lend balances at the Federal Reserve to other depository institutions (banks) overnight.

Changes in the federal funds rate trigger a chain of events that affect many other market factors. Those factors include short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services.

The FOMC holds eight regularly scheduled meetings per year.

At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.

2023 FOMC Scheduled Meetings

These are the scheduled meeting dates for the FOMC in 2023.

  • January 31-February 1
  • March 21-22*
  • May 2-3
  • June 13-14*
  • July 25-26
  • September 19-20*
  • October 31-November 1
  • December 12-13*


* Meeting associated with a Summary of Economic Projections.

eBay Bucks 8% Cash Back on Gold & Silver Bullion

FindBullionPrices.com
Colombia 5 pesos gold coin

When you click on links to various merchants on this site and make a purchase, this can result in this site earning a small commission. More information about our affiliate programs can be found here.

eBay announced a new promotion offering 8% cash back this morning.

The promotion can give you 8% cash back rewards on most purchases as eBay Bucks that you can spend on future purchases. 

While Bullion is one of the excluded categories, there are many silver and gold bullion items listed in other categories that do earn eBay Bucks rewards. 

Buying low premium vintage gold coins is one strategy many savvy buyers use to reduce the dollar-cost average of their investment.

Other’s use it as a way to leverage trading strategies related to the gold-to-silver ratio.

These topics and discussion of other strategies for leveraging eBay Bucks can be researched online. 

eBay Bucks can be spent on Bullion and other items that aren’t eligible for earnings. 

Utilizing this program is a way to get an additional 8% cash back rewards on gifts and purchases from eBay that can later be used towards bullion.

You can check to see if you’re eligible for the offer by visiting the Offer Activation page on eBay.

You can learn more about the program, including how to sign up for eBay Bucks on the eBay website.

We track the prices of popular eBay Bucks eligible gold and silver bullion and circulated 90% coinage in the eBay Bucks Eligible Bullion section of FindBullionPrices.

Vintage Gold On Sale

Buying vintage gold coins is one of the best ways of stacking fractional gold at low premiums. 

Colombia 5 Pesos (.2355 oz) Gold Coins 

The Colombia 5 Pesos gold coins are minted from 90% pure gold (.900 fineness) and share characteristics similar to the British Sovereign. 

These coins make an excellent fractional gold investment and are currently available from Liberty Coin on eBay for $476.95

They are also eligible to earn eBay Bucks rewards worth $38.16 that you can use towards future bullion purchases.

You can find more eBay Bucks eligible Gold & Silver Bullion items at FindBullionPrices.com.

2022 Chinese Panda Coin Now Available in Silver & Gold

FindBullionPrices.com
2022 Chinese Panda 30 gram gold coin

A new design of The Chinese Panda coin is released annually. The Panda Bullion Coin represents China in the global bullion market.

The Chinese Panda coin has been minted by The People’s Bank of China, since 1982. The design of the reverse changes annually as is adorned by depictions of the Panda Bear, a national symbol of the People’s Republic of China.

Chinese Panda coins are minted in Silver and Gold from bullion mined in China.

2022 Chinese Panda Series Design

The reverse design of the coin highlights two panda cubs playing gleefully in the snow. They appear to be having fun, sliding down a hillside in the snow with arms and legs outstretched.

The reverse also displays the denomination in yuan, China’s primary currency, the weight of 30 grams.

The obverse design of the 2022 Silver Panda coin has remained unchanged since the coins debut.

The obverse contains a depiction of the Temple of Heaven, located in Beijing, China.

Minting of the China Panda Coin Series

The People’s Bank of China is the central bank for the People’ Republic of China and is responsible for managing monetary policy and regulation of financial institutions throughout China.

Since 2016, the People’s Bank of China changed the weight of the China Gold Panda and Silver Panda coins to metric weights.

In 2015 and prior, the coins were minted in 1 oz and fractional ounce coins.

Beginning in 2016, the China Silver Panda and China Gold Panda coins have been minted as 30 gram coins, which is slightly less than 1 troy ounce.

Switching their silver and gold bullion coins to metric weights has not yet had much influence on other government mints.

The majority of government and private mints continue to use the traditional Roman Monetary System or British Imperial troy ounce denominations for which has been in use by the Bretton Woods system most Western Nations.

2022 Chinese Panda Coins Collection

The 2022 China Panda Coin collection consists of 14 coins that feature the same design.

  • 2022 Chinese Panda 30 gram gold coin2022 Chinese Panda 30 gram Gold Coin – The 30 gram circular gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 32mm and face value of 500 yuan (500 元). The maximum mintage is 1,000,000 coins.
  • 2022 Chinese Panda 15 gram gold coin2022 Chinese Panda 15 gram Gold Coin – The 15 gram circular gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 27mm and face value of 200 yuan (200 元). The maximum mintage is 250,000 pieces.
  • 2022 Chinese Panda 8 gram gold coin2022 Chinese Panda 8 gram Gold Coin – The 8 gram round gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 22mm and face value of 100 yuan (100 元). The maximum mintage is 250,000 pieces.
  1. 2022 Chinese Panda 3 gram gold coin2022 Chinese Panda 3 gram Gold Coin – The 3 gram round gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 18mm and face value of 50 yuan (50 元). The maximum mintage is 500,000 pieces.
  1. 2022 Chinese Panda 1 gram gold coin2022 Chinese Panda 1 gram Gold Coin – The 1 gram round gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 10mm and face value of 10 yuan (10 元). The maximum mintage is 500,000 pieces.
  1. 2022 Chinese Silver Panda 30 gram coin2022 Chinese Panda 30 gram Silver Coin – The 30 gram round silver coin, is minted from .999 pure silver and with a bullion finish. The coin has diameter of 40mm and face value of 10 yuan (10 元). The maximum mintage is 10,000,000 pieces.
  1. 2022 Chinese Panda 30 gram Platinum Coin – The 30 gram round platinum coin, is minted from .999 pure platinum and with a bullion finish. The coin has diameter of 32mm and face value of 1000 yuan (1000 元). The maximum mintage is 10,000 pieces.
  1. 2022 Chinese Panda 1 gram Platinum Coin – The 1 gram round platinum coin, is minted from .999 pure platinum and with a bullion finish. The coin has diameter of 10mm and face value of 30 yuan (30 元). The maximum mintage is 100,000 pieces.
  1. 2022 Chinese Panda 1 kilogram Gold Coin – The 1 kilogram round gold coin, is minted from .999 pure gold and has a proof quality finish. The coin has diameter of 90mm and face value of 10,000 yuan (10,000 元). The maximum mintage is 1,000 pieces.
  1. 2022 Chinese Panda 150 gram Gold Coin – The 150 gram round gold coin, is minted from .999 pure gold and with a proof quality finish. The coin has diameter of 60mm and face value of 2,000 yuan (2,000 元). The maximum mintage is 10,000 pieces.
  1. 2022 Chinese Panda 100 gram Gold Coin – The 100 gram round gold coin, is minted from .999 pure gold and with a proof quality finish. The coin has diameter of 55mm and face value of 1,500 yuan (1,500 元). The maximum mintage is 20,000 pieces.
  1. 2022 Chinese Panda 50 gram Gold Coin – The 50 gram round gold coin, is minted from .999 pure gold and with a proof quality finish. The coin has diameter of 40mm and face value of 800 yuan (800 元). The maximum mintage is 30,000 pieces.
  1. 2022 Chinese Panda 1 kilogram Silver Coin – The 1 kilogram round silver coin, is minted from .999 pure silver and with a proof quality finish. The coin has diameter of 100mm and face value of 300 yuan (300 元). The maximum mintage is 20,000 pieces.
  1. 2022 Chinese Panda 150 gram gram Silver Coin – The 150 gram round silver coin, is minted from .999 pure silver and with a proof quality finish. The coin has diameter of 70mm and face value of 50 yuan (50 元). The maximum mintage is 60,000 pieces.

2022 Chinese Silver Panda Coins

The 2022 Chinese Panda Silver Coin has a new design for the 40th Anniversary of the Chinese Panda Coin Series.

The reverse design of the coin highlights two panda cubs playing gleefully in the snow. They appear to be having fun, sliding down a hillside in the snow with arms and legs outstretched.

The reverse also displays the denomination in yuan, China’s primary currency, the weight of 30 grams. A special 40th anniversary privy mark is also incorporated into the reverse design.

The obverse design of the 2022 Silver Panda coin has remained unchanged since the coins debut.

The obverse contains a depiction of the Temple of Heaven, located in Beijing, China.

At the center of the obverse is The Hall of Prayer for Abundant Harvests, which is located in Beijing’s Temple of Heaven.

The tiered circular building is an example of traditional Chinese architecture. 

Legend has it that all of the Emperors from China’s Ming & Qing dynasties would visit the temple annually and pray to the gods for an abundant harvest.

At the top of the obverse is the name of the issuing country in native Chinese characters (中华人民共和国), while at the bottom is the date, “2022”.

The 2022 Chinese Gold Panda Coins are available from online bullion dealers in 1 bullion finish denomination:

2022 Chinese Gold Panda Coins

The 2022 Chinese Panda Gold Coin has the same new design for the 40th Anniversary of the Chinese Panda Coin Series.

The reverse design of the gold coins highlights two panda cubs playing gleefully in the snow. They appear to be having fun, sliding down a hillside in the snow with arms and legs outstretched.

The reverse also displays the denomination in yuan, China’s primary currency, the weight of 30 grams and the 40th Anniversary Privy mark.

The obverse design of the 2022 30 gram Gold Panda coin has remained unchanged since the coins debut.

The obverse contains a depiction of the Temple of Heaven, located in Beijing, China.

At the center of the obverse is The Hall of Prayer for Abundant Harvests, which is located in Beijing’s Temple of Heaven.

At the top of the obverse is the name of the issuing country in native Chinese characters (中华人民共和国), while at the bottom is the date, “2022”.

The 2022 Chinese Gold Panda Coins are available from online bullion dealers in 5 bullion finish denominations:

People’s Bank of China

The 2022 Chinese Panda gold and silver coins are minted by the People’s Bank of China (中国人民银行). The gold and silver Panda coins are distributed by China Gold Coin Incorporation (CGCI).

JBR Recovery Ltd 10 oz silver bars

FindBullionPrices.com
JBR Recovery 10 oz silver bar

JBR Recovery Ltd. is a precious metals recovery company based in the United Kingdom. They are a leading company in the silver, gold, platinum, and palladium recovery industry and other alternative sources that can be refined for use in bullion programs.

JBR Recovery Ltd. products include 10 oz silver bars, 100 oz silver bars,  and silver rounds.

Icons of Britain Bullion

The Icons of Britain collection from JBR Recovery Ltd. celebrates the cultural icons of British life.

The reverse side of the JBR Recovery 10 oz silver bars contains hieroglyph-like symbols on the reverse side. The iconic symbols reflect various elements that represent British life and are easily recognizable around the world.

For the obverse side, the 10 oz Silver Bar is stamped with the JBR logo at the top of the design field.

This consists of “999” at the center of an oval with a ring around it that reads “JBR Recovery Ltd.” At the bottom of the bar’s design field are the inscriptions of “10 oz,” “Fine Silver,” and “999.”

The 10 oz bars ship with individual, sealed-plastic packaging, while multiples are available in mint-sealed Monster Boxes of 50 bars.

Background on JBR Recovery Ltd.

JBR Recovery Ltd. is located in West Bromwich, United Kingdom. JBR recovers silver, gold, platinum, and palladium previously used in other industries for the production of its bullion items.

Using secondary sources, industrial sources, and waste materials, JBR recovers these coveted precious metals and is able to refine the metals back to purities of at least .999 for the production of cast bars, minted ingots, and rounds. JBR Recovery Ltd. has Good Delivery standing with the London Bullion Market Association.

Royal Tudor Beasts: 2022 Seymour Panther Begins the New Royal Mint Series

FindBullionPrices.com
2022-royal-tudor-beasts-seymour-panther-brilliant-royal-mint-1-oz-gold-proof-coin

Known for creating highly desirable and sought after unique coins, the Royal Tudor Beasts is the latest collection from the Royal Mint. The Royal Mint is the official government mint of Great Britain.

The Royal Tudor Beasts collection is based on the legend of Henry VIII and the Royal Beasts he kept in his Tudor Era court.

Legend has it, that King Henry VIII kept the Royal Tudor Beasts at the Hampton Court Palace.

Historically, guests would have been carried across the palace moat via boat.

At the Great Guesthouse, guests would be greated by ten beastly statues mounted on pillars positioned on either side of the bridge.

Similar sculptures appear throughout Hampton Court Palace. Statues of the Tudor Beasts adorn the palace rooftops and its famous Tudor Garden.

Royal Tudor Beasts Coin Series

The new Royal Tudor Beasts coin series from the Royal Mint will include 10 unique coins.

The coins will include

  1. The Seymour Panther
  2. The Lion of England
  3. The Greyhound of Richmond
  4. The Yale of Beaufort
  5. The Tudor Dragon
  6. The Seymour Unicorn
  7. The Royal Dragon
  8. The Queen’s Lion
  9. The Black Bull of Clarence
  10. The Queen’s Panther

The first coin in the series is the 2022 Royal Tudor Beasts Seymour Panther.

The series will be available in a variety of denominations, weights and precious metals.

2022 Royal Tudor Beasts Seymour Panther

The available variations for the 2022 Royal Tudor Beasts Seymour Panther coin include:

Jane Seymour and the Seymour Panther

The Seymours were an English noble family with Norman origins.

The Seymour family came to prominence in the sixteenth century as Sir John Seymour (1474-1536) rose in the court of Henry VII and later his son, king Henry VIII.

Sir John’s influence on the Tudor Dynasty was cemented when the Henry VIII married his daughter Jane. Jane Seymour became the wife of King Henry VIII just days after the execution of his second queen, Anne Boleyn. J

The marriage was cut short by Jane’s death after the birth of her son, the future Edward VI. However, the Seymour family retained influence as the relatives of the heir to the throne.

Panthers in medieval heraldry a mythical creature with a spotted or multicoloured fur coat.

Legend says that the panther would emit a sweet odor when roaring which would attract the beast’s prey. After the beast had feasted, it would retreat to a cave where it would sleep for three days.

King Henry VI included a fire breathing panther on his heraldic crest.

It is believed that the Panther was bestowed on Jane Seymour because it made an easy replacement for her predecessor, Anne Boleyn’s leopards.

Jane Seymour’s panther was depicted as a maneless lion with red and blue spots. An eye-catching rendition of this magnificent creature appears on the 2022 Seymour Panther coin.

27 of the best 2021 Black Friday & Cyber Monday deals on Silver, Gold & Platinum

FindBullionPrices.com
2018 American 1 oz Silver Eagle

Many of The Black Friday sales with online precious metals and bullion deals are live and that means plenty of deals on silver and gold bars, rounds and coins.

The best online bullion deal for 2021 is the American Eagle Silver coin at spot price from BGASC.

The Black Friday deals offered this year are comprised of a variety of sales on silver, gold and platinum discounts on dealer premiums. Some highlights include offers an American Eagle 1 oz Silver Coin at Spot Price from BGASC.

Financial uncertainty around rising inflation and higher gas prices continue to weigh on the minds of holiday shoppers throughout the United States this year.

Holiday shoppers are seeking out discounts on popular items. Below are some highlights of some of the better deals offered by online bullion dealers in 2021.

Head over to our list of all the best Black Friday bullion deals.

APMEX chose to utilize their mobile app for their best deals this year.

Several spot price deals were offered with limited quantities throughout the day.

JM Bullion offered very little discount offerings for Black Friday this year. Some on social media have been speculating as to the reasons.

Top Black Friday Deals on Silver, Gold & Platinum Bullion

BGASC

APMEX

APMEX has raised their threshold for free shipping to orders over $199 dollars.

JM Bullion

JM Bullion has raised their threshold for free shipping to orders over $199 dollars.

JM Bullion has discounts on some products. However, offers from some other online retailers for similar products are better.

Bullion Exchanges

Bullion Exchanges continues to have one of the lowest minimum order thresholds to include free shipping for orders over $99. There are many great Black Friday deals offered from Bullion Exchanges.

Money Metals Exchange

BGASC

Silver Gold Bull

SD Bullion

SD Bullion continues to deliver some excellent deals for Black Friday

Gainesville Coins

Is it legal to own Precious Metals?

FindBullionPrices.com

For over 40 years, from 1933 until 1974, the US government made it illegal for citizens to own gold.

Thanks to President Gerald Ford, it is legal for everyone to own gold, silver and other precious metals since 1974.

History of Precious Metals Prohibition

In the early 20th century paper currency was far less common than today. Paper bills were often only available in large denominations commercial and interbank transactions. Much of the currency in circulation was coinage minted of silver and gold alloys.

Economies were still based on the gold-standard. The coins in circulation were minted of 21k gold, which is a mixture of 90% gold and 10% copper for strength and wear resistance during everyday circulation.

Gold coins before 1933 were minted in denominations that include the $2.50 (quarter eagle), $5.00 (half eagle), $10 (eagle) and $20 (double eagle).

In 1921, following the end of the first World War, the Morgan Silver Dollar was replaced with the Peace Silver Dollar. Both coins were composed of an alloy containing a mix of 90% silver and 10% copper. The amount of pure silver in each $1 USD coin being 0.7734 troy ounces.

Also during that time smaller denominations of coins, including the dime, quarter and half-dollar, we also minted from the same silver and copper mixture. The US Mint continued to issue 90% silver coins through 1964.

When clad coins began to circulate in 1965, some citizens remembered the gold seizure that happened thirty-two years early.

The roaring 20’s led to the Great Depression. Wall Street Banks, along with regional banks under purview of the young Federal Reserve system were happy to give out margin loans, unsecured credit in fiat currency.

During the economic hardship many people lost faith in the banking system. Instead of depositing cash into banks, many people turned to hoarding cash at home in the form of gold and silver coins.

During the Great Depression, Roosevelt used an obscure and obsolete piece of legislation meant to prevent the German government to profit from patents in the United States during the World War I as justification for his numerous Executive Orders to confiscate gold coins from the economy.

On April 5, 1933, after enduring several years of the Great Depression, President Franklin Roosevelt signed Executive Order 6102.

With the swipe of his pen, Roosevelt made it a crime for any US citizen to own gold coins, gold bullion or even gold certificates, which were a form of gold-backed fiat currency that was exchangeable for gold. In exchange, the government offered citizens $20.67 in fiat for each ounce of gold that was surrendered.

All gold was ordered to be surrendered to the government. Within the first thirty days the Treasury was able to collect roughly one third of the $1,400,000,000 in gold that was in circulation.

Any person who failed to comply with the presidential order faced imprisonment and fines of up to $10,000. Many private citizens and investors were put on a list, targeted, arrested, prosecuted, fined, imprisoned and had their gold seized.

The order did exempt some items. Such as jewelry, numismatic collectibles, items used by industry, some professions and artists.

In defiance to the order, people drilled holes or attached hasps to the coins to convert coins into pendants to hang on a chain to meet the minimum standard of jewelry.

The seizures, arrests and prosecutions of those who did not surrender their gold continued for most of 1933. Roosevelt signed additional Executive Orders throughout the year.

One of which gave the Justice Department the authority to build a list of citizens suspected to be ‘gold hoarders’. Essentially acting as a government backed gestapo.

During the summer of 1933, agents from the Justice Department visited the homes of “known hoarders of gold” to confiscate more than $38,901,009 worth of gold.

The Emergency Banking Act of 1933 was supposed to help restore faith in the banking system and the economy after the Federal Reserve led the country into the Great Depression.

The prohibition on private ownership of gold continued for 41 years.

Nixon Shock

During the early 1970s, Nixon was facing rising unemployment, high inflation, the looming oil crisis and political foes. In August of 1971, the President called together top economic advisors for a secret meeting at Camp David.

Notable participants in the meeting included Federal Reserve Chairman Arthur Burns and Treasury Secretary John Connally. Also present, then Undersecretary for International Monetary Affairs and future Federal Reserve Chairman Paul Volcker.

Following this meeting Richard Nixon authorized then Treasury Secretary John Connally to break the Bretton Woods Agreement that had defined the rules of international trade amongst many countries following World War II.

Without consulting any international leaders, the actions included the immediate suspension of the “gold standard”.

Nixon directed the Treasury Secretary to abolish the convertibility of dollars into gold through the London Gold Pool. This also removed the fixed price of gold from $35 an ounce to a market based system.

By 1973, the US gold standard that was established by Bretton Woods had been replaced. The new system based on free floating exchange of fiat currencies.

Following the resignation of Nixon, one of the first laws signed by President Ford included a bill which reversed Roosevelt’s Executive Orders.

The bill authorized expansion of the World Bank and included provisions that legalized citizens full authority to purchase, hold, sell, or otherwise deal with gold in the United States or abroad. It has been legal for anyone to own, hoard, buy and sell gold in the United States since December 1, 1974.

The gold bull run that followed culminated in a price peak of $850 USD per ounce in January 1980.

Sovereign Gold Bullion Market

The Gold Krugerrand was the first gold bullion coins to be sold to investors when it debuted in 1967.

At the time, apartheid sanctions against South Africa made it difficult to invest in Gold Krugerrands. The top gold coins of the day included the Gold 100 Corona from Austria and the Mexican 50 Pesos Gold Coin. These vintage gold coins have maintained their popularity with investors.

In 1979, the Royal Canadian Mint introduced the first mintage of the Maple Leaf 1 oz Gold Coin.

The basic design of the Canadian Maple Leaf 1 oz Gold Coin has remained largely unchanged since its creation.

The US Mint made several failed attempts during the early 1980s to woo precious metals investors. One notable attempt is the American Arts Commemorative Series Medallions.

There are ten medallions that are part of the American Arts Commemorative Series that were minted from 1980 through 1984.

The larger medallions are minted 1 troy ounce of pure gold.  While the smaller medallions contain 1/2 troy ounce of pure gold. At the time of release, the medallions were poorly received by collectors, the public and investors.

These medallions were struck from an alloy containing .900 fine gold. Today, these medallions are popular with gold stackers and investors and can are often on sale in the secondary market very close to spot price.

While the series was a commercial failure, it paved the way for Congress to create and establish the guidelines for the American Eagle series of coins from the US Mint.

Gold American Eagle

The American Eagle series premiered in 1986. It continues to be one of the most popular precious metal investment vehicles in the world.

It has been more than 52 years since the Nixon Shock moved off the United States off the gold standard.

Private ownership of gold, silver and other precious metals remains legal throughout the United States today.

Demand from investors continues to grow as more people continue to lose faith in the banking system, traditional investments like stocks and bonds as well as the federal government’s ability to manage and regulate effectively given the massive amount of corruption plaguing Washington.

As of 2023, more than 47 million ounces of gold have been used in minting of four denominations of American Gold Eagle coins. Investor demand for American Gold Eagle coins remains strong after 37 years.

Tuvalu Pleas For Help

FindBullionPrices.com
The COP26 Climate Summit is underway in Glasgow, Scotland this week.

In a dramatic plea for awareness of the effects of climate change, Tuvalu’s foreign minister, Simon Kofe presented his speech to the group while standing knee-deep in seawater near the shores of an atoll in the Polynesian nation.

 
Tuvalu is a tiny nation in the South Pacific region that is comprised of 9 small islands. It is an independent island nation under the British Commonwealth.

The country’s GDP in 2020 was the lowest in the world at only $45 million due to tourism shutdowns related to the pandemic.

There are many gold and silver coins minted on behalf of Tuvalu by the Perth Mint. Tuvalu receives a licensing fee for the use of it’s currency on bullion coins.

Below are some examples of coins produced by the Perth Mint on Behalf of Tuvalu.

You can also find more coins from Tuvalu on our website.

2022 James Bond 007 1 oz Silver Coin
These 2022 1 oz Colorized Tuvalu James Bond Series 007 Silver Coins feature a black colorization within the swirls of the reverse field. 

Available from GrReserve on eBay for $41.95

 

2021 Signs of the Zodiac 5 oz Silver Coin
This amazing coin has a mintage of only 380 coins worldwide. 

It’s available from the_coin_shoppe on eBay for $699.99 and ships from the US.

 


2021 1/2 gram Gold James Bond 007
The 2021 James Bond 007 1/2 gram Gold Coin is available from APMEX on eBay for $104.95

These coins come in a blister pack display assay card.

These are great holiday gifts and stocking stuffers!