My oh my what a year we’ve been through! Since this is a holiday weekend, believe it or not, I’m going to try to keep today’s wrap up short, only hitting some key highlights. The ten year Italian bond auction was a failure and the yields are back up near 7%. It looks like the next shoe to drop will be Spain as their 2011 deficit grew much more than expected. So far their bond yields are holding up … Read More »
To understand why Gold And Silver To Battle Inflation it is good to first understand the fiat money system we live in. To create money in a fractional reserve/fiat monetary system you must first create debt. The US government issues Treasury Bonds to be redeemed with fiat currency in U.S. dollars. Fiat currencies are supported by the ability to create more debt. Over time, all fiat currencies lose purchasing power through inflation because the more money that is created, the … Read More »
According to the latest updates issued by coinnews.net, gold prices dropped for the second consecutive day on December 13, 2011.
The Brasher Doubloon, which is an extremely rare gold coin, was sold for $7.4 million in December 2011..
Analysts stated that the 200-day moving average of gold, at below $1,620, greatly supported gold prices.
A very rare gold Brasher Doubloon coin, minted in 1787, was sold recently for a staggering amount of $7.4 million.
Unlike bullion coins, numismatics sell for multiple times the value of its gold content.
The currency agreement that Japan has reached, to purchase Chinese sovereign bonds as part of its foreign-exchange reserves has been referred to as a currency pact and may indicate the dawn of China’s yuan as a new Global Reserve Currency, according to analysts. In the move to add the yuan-denominated bonds to Tokyo’s holdings, the majority of which are believed currently to be held in U.S. dollars, Japan joins a growing number of countries that is, so far believed to … Read More »
History of Mints Of The United States When the United States government began minting coins in 1792, the original United States Mint was located in Philadelphia, Pennsylvania and was having difficulty producing enough currency for our young republic. The demand for coins increased as the country grew and it became necessary to create additional mint facilities. The need for additional hard currency was made plain by discovery of gold, first in the East and later in the West which found … Read More »
Last month, a group of three Liberty Double Eagle types of gold coins proved to be the lead earners at the ANA Fall National Money Show, realizing more than $16 million!