Posted on

Zimbabwe debuts gold coins to fight inflation as local currency tumbles

FindBullionPrices.com

The Reserve Bank of Zimbabwe (RBZ) announced that it will begin selling gold coins this month as a store of value to tame runaway inflation, which has considerably weakened the local currency.

The announcement comes after the country’s banking regulators raised a key interest rate to 200%, the highest in the world.

Inflation in the country has been rising at such a high pace that the Monetary Policy Committee (MPC) “resolved to introduce gold coins into the market as an instrument that will enable investors to store value.”

Fidelity Gold Refineries (Private) Limited, which is owned by the central bank, operates as the only gold-buying and refining entity in the southern African country.

US dollars are in high demand in the struggling country which recently saw the central bank involved in negotiations with bakers and other food producers to reduce the cost of basic items like bread.

The central bank’s monetary policy committee’s announcement comes at a time of “great concern on the recent rise in inflation”, which increased by 30.7% on a month-on-month basis for June 2022.

The availability of gold coins will likely ease pressure on the US dollar in the country. After all, gold is a better long-term store of value than another fiat currency. It has no counter-party risk and it cannot be created out of thin air by central banks.

The economy in Zimbabwe continues to toil with as the crisis is characterized a rapidly devaluing currency, 90 percent unemployment, declining manufacturing output and by sky-rocketing inflation.

In order for the gold coins to be effective, government officials are encouraging those seeking to buy the gold coins should pay with Zimbabwe dollars and not US dollars to help the central bank remove some of the excess local currency in circulation.

The coins are expected to be minted in an alloy of 22k, which is the same composition as other government backed coins such as the British Sovereign Gold Coin.

“These gold coins will be usable both locally and internationally because we have engaged with international banking partners. What I must emphasise is that gold is gold and it has an international value,” RBZ Governor Dr John Mangudya said in an interview.

He continued to say that those who will purchase the coins will also get bearer certificates.

“Since these coins are essentially meant to store value they can be used for the purpose of trading and also can be used as collateral. The purchaser can also convert them to cash if need be.”

He said the coins will be purchased in “all currencies in circulation in Zimbabwe including the Zimdollar.”

“Basically the gold coins will be an instrument for storing value and they will be purchasable in both foreign and local currency. Once minted they will be distributed by Fidelity Printers and Refiners, local banks and international banking partners that we will announce in due course.

“These gold coins will be usable both locally and internationally because we have engaged with international banking partners. What I must emphasize is that gold is gold and it has an international value.”

The official designs for the coin have yet to be released and officials have stated that images currently circulating on social media and fake and should be disregarded.

The coins are set to be released and available for sale sometime in mid-July 2022.

Posted on

Which are the Best Gold Coins for Investment?

FindBullionPrices.com
american gold eagle coin

It is a cycle that may seem familiar. Collapse of the housing sector, collapse of the stock market, bank runs and shutdowns. You may remember some of the symptoms leading up to the 2008 financial crisis. It’s looking similar this time around. The stock market drops and trillions of dollars in wealth vanishes into thin air for millions of people.

Some investors started shifting money into more stable assets throughout the pandemic. Few assets are as trusted and as reliable as a store of value as is gold.

Shopping for gold coins can be overwhelming and confusing in the beginning. There hundreds of online bullion dealers to choose from, and almost every single one offers the exact same product at a different price.

A wise choice for if you’re interested enough to buy gold coins is to stick with holding items that are widely available and likely to be widely recognized. This will make it easier to sell later on.

The American Eagle and Maple Leaf are two of the most widely recognized modern gold coins in the world. Others include Krugerrands, Kangaroos and Britannias.

Vintage coins are also an excellent option. Especially for fractional gold. These coins are steeped in history.

Most of the world economies operated on a gold-standard up until the 1920s. Gold coins were commonplace and circulating for everyday transactions.

Historic gold coins are also a great example to show how gold is a long term store of value and wealth.

Many are still legal-tender today based on their face value. Though the intrinsic value of the metal is worth significantly more.

Coins like the Gold Corona, $10 gold eagle, British Sovereigns and Swiss 20 Francs are often some of the lowest premium fractional gold coins available to investors in current markets.

What makes sovereign gold coins a better investment?

Modern going coins are minted in mass quantities each year. The designs are widely known amongst investor and collectors. Many investment-grade coins, such as the Krugerrand, have had the same consistent design for decades.

Simply put: coins minted by a government come with a guarantee of the weight, purity and quality.

The purity, weight and specifications of these coins is well documented and a well-trained eye can usually identify counterfeits.

Vintage sovereign coins, such as British Sovereigns, 20 Francs Coins from the Latin Monetary Union and Gold Pesos from Mexico all make a solid gold investment.

Historic gold coins are most often in circulated condition and will show some signs of handling, light scratches and other minor imperfections and you can usually buy them at a better price than modern coins.

Posted on

Top 4 Sovereign Gold Coins for Investing

FindBullionPrices.com
american gold eagle coin

Uncertainty in the traditional investment markets brings a lot of interest in precious metals. Precious metals provide a stable investment and store of wealth when the stock market is wavering. Gold has always been looked at as a safe-haven way to hold onto wealth during an economic recession. Gold coins for investing are the best way having physical precious metals in your portfolio.

Gold has historically been a way for investors to preserve buying power from inflation.

Gold has been on the rise this year. All major financial experts are predicting that gold is going to continue to rise. Hedge fund leaders and financial analysts alike are recommending investments in precious metals.

There are ways to invest in gold like traditional stock or mutual fund investments. There are gold-mining stocks whose performance often tracks the price of gold in relation to the expenses of mining operations. There are ETF (electronically traded funds), some of which are backed by physical metals.

However, the safest way to invest in gold is to buy physical bullion.

Gold Bullion comes in different forms. The most common ways to invest in physical gold is to buy coins and bars.

Gold coins are minted, backed and guaranteed by sovereign governments.

Gold bars and rounds are minted by private companies that assure the assay of the gold you’re buying.

If you want exposure to gold in your investment portfolio, then buying and holding gold coins is the best way to achieve that.

Gold Coins are different from rounds in that coins are issued by sovereign government authorities and carry legal tender status. In the majority of cases, the face value that is present on gold coins is nominal and is a fraction of the intrinsic value of the metal in the coin.

Government issued coins are more widely recognized world-wide when it comes time to sell. They are standardized and are manufactured to exacting specifications that are well known and documented.

This makes them much easier to authenticate without requiring expensive equipment to assay. With a digital scale and measuring calipers even a novice in precious metals can often be taught to easily determine the authenticity of a coin.

  1. American Gold Eagle Coins

    The American Gold Eagle is one of the most recognizable modern gold coins worldwide. It’s design embodies the spirit of America. The obverse (front) of the coin features the Walking Liberty design that also appeared on the St Gauden’s Double Eagle coin. The reverse (back) of the coin shows a bald eagle soaring above it’s nest.

    It was introduced in 1986 and is backed in full faith for it’s purity and weight by the US Mint. Each Gold Eagle coin contains 1 troy ounce of gold. The coin also contains small amounts of silver and copper to provide strength, durability and protections from scratches while being handled.

    The composition of the Gold American Eagle is 91.67% Au, 3% Ag, 5.33% Cu. It is 22 karat, which was the alloy used in American Gold coins minted prior to 1837.

    Gold Eagles are widely recognized by investors. They are typically sold by dealers as individual coins. Though they are also available in tubes of 20 coins or Monster Boxes containing  25 full tubes.

  2. American Gold Buffalo Coins

    The American Gold Buffalo coin was introduced in 2006. It is a 24k bullion coin produced from .9999 fine gold. It was the first 24k gold bullion coin produced by the US Mint.

    The Gold Buffalo mimics the design of the Buffalo Nickel. It is produced annually at the West Point Mint. Random Year Gold Buffalo coins will carry the lowest premiums over spot price, which is ideal for investors.

  3. Canadian Gold Maple Leaf Coins

    The Canadian Maple Leaf is one of the world’s most popular coin programs. It is the official bullion coin series of the Royal Canadian Mint and the nation of Canadian. First introduced in 1979, the Canadian Gold Maple Leaf coins were the first in the world to compete with the South African Krugerrand in terms of gold bullion demand. Prior to the release of the Gold Canadian Maple Leaf no other coin beside the Krugerrand had ever been offered strictly for investment purposes.

    The obverse of all Gold Maple Leafs feature the right-profile portrait sculpture of Queen Elizabeth II. Three different incarnations of Her Majesty’s profile have appeared over the years. These include the following:

    -1979 to 1989 – The image of a 39-year-old Queen Elizabeth II.

    -1990 to 2004 – A depiction of Queen Elizabeth II at 64 years of age.

    -2005 to Present – Susanna Blunt’s depiction of Her Majesty at the age of 79.

    The reverse of all Canadian Maple Leaf coins features the image of the sugar maple leaf. Used on the reverse since the introduction of the gold version in 1979, this image has never changed. The only additions have been security measures, notably radial lines and a microscopic maple leaf privy.

  4. South African Gold Krugerrand Coins

    The gold Krugerrand quickly became the number one choice for investors worldwide during the bull gold market in the 1970’s. Between 1974-1985 it is estimated that 22 million gold Krugerrand coins were imported into the United States.

    The success of the South African Gold Krugerrand inspired other gold-producing countries to mint and issue gold bullion coins. Including Canada, with the gold Canadian Maple Leaf; China, with the Chinese Gold Panda; the United States, with the American Gold Eagle; and the United Kingdom, with the British Gold Britannia.

    The dimensions of the 1 oz South African Gold Krugerrand is 32.77 mm in diameter and 2.84 mm thick. It is minted from a gold alloy that is 91.67% pure (22 karats) so that the coin contains one troy ounce (31.1035 grams) of gold. The remaining 8.33% of the of the coins weight is copper which gives the Krugerrand it’s orange appearance. As a result, the Krugerrand’s actual weight is 1.0909 troy ounces (33.93 grams).

    In 1980, the South African Mint began producing gold Krugerrand coins in fractional ounce sizes, containing 1/2 oz (15.5 grams), 1/4 ounce (7.78 grams), and 1/10 ounce (3.11 grams) of pure gold.

Many experts suggest that every investment portfolio is diversified with 10% to 15% invested in precious metals. Many investors choose to buy gold coins because of their ability to retain and maintain purchasing power over time.

The one troy ounce gold coin is the most popular size and denomination of gold bullion coins available today. These gold coins are widely recognized worldwide and can easily be authenticated with simple tools. One ounce gold coins are small and compact and many of them can be stored discreetly in a very small amount of space.

One standard mint tube of gold eagle coins contains 20 troy ounces of gold and is only slightly larger than an average pill bottle. With the spot price of gold hovering between $1,500 to $1,600 per ounce, a full tube of Gold Eagles has a bit over $30,000 in gold value. That is a remarkable store of wealth in a compact size.

Posted on

eBay Bucks 8% Bonus Offer – Expires July 31 at Midnight

FindBullionPrices.com
cheap silver bars

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 Bucks 8% Bonus Offer

On Monday eBay announced their first Bucks promotion of the quarter on all qualified purchases. The bonus gives a reward of 8% instead of the usual 1%.

If you still have unspent eBay Bucks from last quarter time is running out to spend them. Now is the best time to double-dip.

As usual items listed for sale in the bullion categories are not eligible for earning eBay Bucks.

However, there are plenty of Gold, Silver and Junk bullion items available in other categories that do qualify to earn Bucks. Some of these items are near or below melt prices when factoring in the eBay Bucks bonus.

This bonus promotion runs until midnight Pacific time tonight (7/31).

You can learn more about the eBay Bucks program including how to sign up and receive the bonus offers from eBay’s FAQs.

If using a credit card that gives 2% cash back then the net price of each deal is even less.

Some highlights of the deals available include:

eBay Bucks Eligible Gold Bullion

eBay Bucks Eligible Silver Bullion

eBay Bucks Eligible 90% Silver Coinage “Junk” Silver Bullion

Hundreds more eBay Bucks eligible gold, silver and junk bullion items can be found on our website.

Visit the eBay Homepage and click on the banner to activate the promotion first. If you don’t receive the targeted promotion be sure that you’ve signed up for eBay Bucks and have opted-in to receive the promotions.

More details on eBay Bucks can be found here. Check out this eBay thread if you are signed up but aren’t receiving eBay Bucks Promotions

.

Be sure to also check out the latest Silver at Spot Prices deals on our website, which includes recent offers from BGASC and Golden Eagle Coins.

ebay bucks bonus bullet Buy Silver at Spot Price Deals
ebay bucks bonus bullet Compare Top Bullion Prices Chart
ebay bucks bonus bullet eBay Bucks Eligible Bullion

 

money metals exchange starter kit  

 
Posted on

How can you buy gold at spot price?

FindBullionPrices.com

Investors and collectors are always looking for a great price on gold coins and bars. It’s understandable that everyone wants to pay the lowest price possible when buying precious metals. The lower price you pay the higher potential return on your investment that you can get. It’s difficult to buy gold at spot price but not impossible.

What is gold spot price?

The gold spot price is the current commodities market price at which gold is bought or sold for immediate payment and delivery. It is what you would pay “on-the-spot” as opposed to some date in the future. In theory, you could pay spot price, or below spot price if you were to buy raw gold before it was minted into a bar or coin.

The gold spot price refers to the price of one troy ounce. It is often quoted in U.S. dollars. The troy ounce is a standard unit of measurement use for precious metals. One troy ounce is defined as exactly 31.1034768 grams (1.097142857143 oz.), but gold prices are often listed as $/oz.

Gold spot prices can be driven by a host of factors such as market speculation, demand for gold, fluctuations in gold futures (paper contracts), currency values, current events (political stability), gold supply (mining), and gold demand (manufacturing and investor).

Gold spot prices are updated every minute as long as one of the markets around the world is open and trading. The most influential global markets are in New York, Chicago, London, Zurich, China, and Hong Kong.

Gold spot price does not take into account any other costs that may be essential to the design, manufacture, transportation, purchase or sale of a precious metal. Those additional costs may including things like packaging, shipping, handling, or insurance. They also don’t factor in the rarity of certain gold products, coins or potential numismatic value.

Expecting to buy a gold coin or bar at the spot price of gold is like expecting to buy a car for the price of the materials. Other factors impact the price of the finished product such as the design and labor, the cost of transporting raw materials and finished products, location, taxes, profit margin, etc.

How are spot prices used?

Companies use gold spot prices to help guide product pricing. However, gold coins, bars, and bullion can sell for varying amounts over spot price due to numerous factors previously mentioned. Additionally, gold coins have other factors that effect the price such as mintage, product types, and rarity on top of the spot price of gold.

Bullion dealers use gold spot price as the basis for pricing many of their products. Dealers price Gold coins, bars and rounds with a premium over gold spot price.

Where can you buy gold at spot price?

While rare, the opportunity to buy gold at spot price does exists. Several online bullion dealers offer 1 oz gold bar for sale at spot price as a special offer for new customers. This is intended as a loss leader for the bullion dealers to acquire new customers.

There are other ways to buy gold at close to spot price, including some that allow you to buy gold below spot price after factoring in various discounts, cash back and rebates.

Choose the type of gold products that will meet your goals

With such a variety of gold bullion products available it can be difficult to decide which products will help you reach your investment or store of wealth goals.

Today’s market is flooded with gold bullion coins from sovereign government mints from around the world and private mints. The market also has a flood of vintage gold bullion coins that were in circulation at a time when economies were based on the gold standard.

Two very important factors to consider include how long you intend to hold on to your gold bullion investment and your intended buyer when you decide to sell down the road.

If transferring cash holdings into another form of legal tender, buying Pre-1933 US Gold Coins, Canadian Gold Maple Leaf coins or American Gold Eagle Coins may be the most practical for you. There are plenty of other vintage gold bullion coin options available that don’t have a current legal tender status, that are just as highly recognized world-wide. These vintage gold bullion coins are easy to sell, such as Gold Franc Coins of the Latin Monetary Union (LMU), Gold Sovereigns from Great Britain, and Gold Peso coins from Mexico.

Keep track of the Gold Spot Price

The gold spot price changes everyday based on the market factors mentioned above. It’s important to keep an eye on rising or falling gold spot prices to identify opportunities to buy and sell to capture profits if that is one of your goals.

Compare Gold Bullion Prices

Once you’ve identified your investment goals and the types of gold bullion products that are important to you, then it’s time to comparison shop across the large number of online bullion dealers.

There are a number of trusted and reputable online bullion dealers. Each dealer prices gold bullion products based on their individual business models. Accordingly, the premiums each dealer charges for the same product can vary dramatically.

Almost every online bullion dealer will carry a core set of common products such as American Gold Eagles, Canadian Gold Maple Leafs, South African Gold Krugerrands, and other sovereign government bullion. You can use FindBullionPrices.com to find the best prices on the gold bullion items you want to buy.

 

Posted on

eBay Bucks Eligible Items from Major Bullion Dealers

FindBullionPrices.com
buy silver

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.

Most bullion buyers who buy on eBay are familiar with the value that the eBay Bucks Rewards program provides. It is a cash back style rewards program that gives back 1% of each eligible purchase in the form of an eBay Gift Card code that can be applied to future purchases.

As often as several times per month eBay runs promotions that increase the cash back earnings provided by the eBay Bucks program. The promotions have increased the percentage of earnings to 8%, 10% and even as high as 15%.

Any items that are listed in the bullion categories are automatically excluded from earning eBay Bucks. However, some savvy dealers will list items in other eligible categories which allow earning of eBay Bucks on bullion purchases.

APMEX has always included items for sale on eBay in eligible categories. This has typically included gold bullion coins, primarily European circulated gold bullion coins such as British Gold Sovereigns and 20 Franc Gold Coins. They also usually have Pre-1933 American Gold Bullion and Mexican Gold Pesos.

Bullion Exchanges offers a variety of silver bullion items in eBay Bucks eligible categories. Often you can find a variety of 1 oz rounds sold both individually or in lots of 10, 5 oz silver bars and 10 oz silver bars.

Modern Coin Mart usually has Rolls of 20 American Silver Eagle coins for sale in eBay Bucks eligible categories. Their prices are usually higher than you can find elsewhere but some people feel that the higher price is offset when earning eBay Bonus Bucks during promotional periods.

BOLD Precious Metals usually offers foreign silver and gold bullion items in eBay Bucks eligible categories. They typically offer China Silver Panda coins, Super Hero Themed silver bullion rounds and Rolls of Austrian Silver Philharmonic coins that can earn eBay Bucks.

We have published an updated list of eBay Bucks Bullion items that are eligible for earning bucks.

Posted on

Gold Coins of the Latin Monetary Union (LMU)

FindBullionPrices.com

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.
Posted on

Buy Gold Coins as a Store of Wealth

FindBullionPrices.com
american gold eagle coin

When considering gold coins as a store of wealth, it’s important to recognize that certain gold coins have gained international reputation and are widely recognized as reliable stores of wealth.

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 widely recognized by gold buyers and are very liquid when it is time to sell.

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

Premiums on gold coins increase when demand from investors 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. At various times since then, we have seen gold premiums rise and fall because of inflation, supply chain issues, global political instability and other issues.

One of the most important factors when you buy gold coins is the premium you pay over spot price. Even though gold prices have been toying with record highs in recent years, the demand for gold and silver bullion continues to be strong with investors due to record amounts of inflation. When demand is low dealer premiums typically drop, which can help lower your dollar-cost average.

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. Some coins have numismatic value in addition to their gold content. This can enhance their value and provide another avenue to find gold buyers in the numismatic market.

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.