Some initial guidelines from one of America's top gold experts
Online interview of Michael J. Kosares
Question. What kind of gold should I buy?
Answer. We probably get that question more than any other -- pretty much on a daily basis. The answer, however, is not as straightforward as you might think. What you buy depends upon your goals. We usually answer the "What should I buy?" question with one of our own: "Why are you interested in buying gold?" If your goal is simply to hedge financial uncertainty and/or capitalize on price movement, then contemporary bullion coins will serve your purposes. Those concerned with the possibility of capital controls and a gold seizure, or call-in, often include historic pre-1933 gold coins in their planning. Both the contemporary bullion coins and historic gold coins trade at modest premiums over their gold melt value, track the gold price, and enjoy strong liquidity internationally.
Q. When should I buy?
A. The short answer is 'When you need it.' Gold, first and foremost, is wealth insurance. You cannot approach it the way you approach stock or real estate investments. Timing is not the real issue. The first question you need to ask yourself is whether or not you believe you need to own gold. If you answer that question in the affirmative, there is no point in delaying your actual purchase, or waiting for a more favorable price which may or may not appear. Cost averaging can be a good strategy. The real goal is to diversify so that your overall wealth is not compromised by economic dangers and uncertainties like the kind generated by the 2008 financial crisis, or those now unfolding in Europe and Japan.
Q. Why not wait for the necessity to arise, then buy gold?
A. Over the past few years, as concern about a financial and economic breakdown spread, there were periods of gold coin bottlenecks and actual shortages. In 2008-2009 at the height of the financial crisis, demand was so great that the national mints could not keep up with it. The flow of historic gold coins from Europe was also insufficient to meet accelerating demand both there and in the United States. Premiums shot-up on all gold coins and a scramble developed for what was available. There is an old saying that the best time to buy gold is when everything is quiet. I would underline that sentiment.
Q. Can you give us a profile of the typical gold investor?
A. Gold owners are a group of people I have come to know very well in my 40 years in the business. Contrary to the less than flattering picture sometimes painted by the mainstream press, the people we have helped become gold owners are among those we rely upon most in our daily lives -- our physicians and dentists, nurses and teachers, plumbers, carpenters and building contractors, business owners, attorneys, engineers and university professors (to name a few.) In other words, gold ownership is pretty much a Main Street endeavor. A recent Gallup poll found that 34% of American investors rated gold the best investment "regardless of gender, age, income or party ID. . ." In that survey, gold was rated higher than stocks, bonds, real estate and bank savings.
Q. What about high net worth investors?
A. Traditionally, wealthy, aristocratic European and Asian families have kept a strong percentage of their assets in gold as a protective factor. The long term economic picture for the United States has changed enormously over the past several years. As a result, that same philosophy has taken hold here particularly among those interested in preserving their wealth both for themselves and for their families from one generation to the next. In recent years, we have helped a good many family trusts diversify with gold coins and bullion at the advice of their portfolio managers.
(Please see: Seven Reasons Why High Net Worth Investors Choose USAGOLD)
Q. You frequently mention gold as insurance. What do you mean by that?
A. Gold's baseline, essential quality is its role as the only primary asset that is not someone else's liability. That separates gold from the majority of capital assets which in fact do rely on another's ability to pay, like bonds and bank savings, or the performance of the management, or some other delimiting factor, as is the case with stocks. The first chapter of the ABCs of Gold Investing ends with this: "No matter what happens in this country, with the dollar, with the stock and bond markets, the gold owner will find a friend in the yellow metal -- something to rely upon when the chips are down. In gold, investors will find a vehicle to protect their wealth. Gold is bedrock."
Q. What percentage of my assets should I invest in gold?
A. Once again the answer is not cut and dry, but a general rule of thumb is 10% to 30%. How high you go between 10% and 30% depends upon how concerned you are about the current economic, financial and political situation. Recently, CNBC television commentator Jim Cramer strongly advocated a 20% gold diversification.
Q. In your book, you state: "Who you do business with is one of the most important aspects of gold investing." Why is that?
A. A solid, professional gold firm can go a long way in helping the investor shortcut the learning curve. A good gold firm can help you avoid some the problems and pitfalls encountered along the way, and provide some direction. It can help you in the beginning and through the course of your gold ownership both in making additions to your portfolio and liquidations.
Q. How can the average investor distinguish between the good gold firms and the bad?
A. First, and most important: Check the Better Business Bureau's profile on a company before you do business with it. Check not only its rating but the number of complaints lodged against it and how those complaints were handled. A consistent record of complaints can be a warning sign even if the company has managed to keep an A+ rating. This is a simple and straightforward step every first-time investor should take, but it is amazing how many ignore it. Second, choose a gold firm that has a solid track record. Ten years in business is good; fifteen years or more is even better. Third, choose a firm with a commitment to keeping you informed, i.e., one that is interested in answering your questions now and keeping you informed in the future. If a sales person gives you short shrift or hits you with a heavy sales pitch take it as a warning.
(Note: USAGOLD has been awarded the Better Business Bureau's Gold Star Certificate, its highest accolade. In addition, the firm has been rated A+ by the BBB with zero consumer complaints. The firm has been accredited since 1991.)
Q. Can you briefly describe what you believe to be the biggest mistake investors make when starting out as gold owners?
Answer. The biggest trap investors fall into is buying a gold investment that bears little or no relationship to his or her objectives. Take safe-haven investors for example. That group makes up 90% of our clientele, and probably a good 75% of the current physical gold market. Most often the safe-haven investor simply wants to add gold coins to his or her portfolio mix, but too often this same investor ends up instead with a leveraged (financed) gold position, or a handful of exotic rare coins, or a position in an ETF that amounts to little more than a bet on the gold price. These have little to do with safe-haven investing, and most investors would be well served to avoid them.
Q. What about the high profile gold companies that advertise on talk radio and cable television?
A. The same vetting rules outlined earlier apply. Check them out. Too often investors make the mistake of believing that the gold firm that sponsors their favorite political commentator is also the best place to make their gold purchases. National media campaigns are expensive and those costs are usually covered in the prices paid by investors for their gold coins. In some instances that mark-up can be twice the gold value. Take care that you are not paying too much for your gold and that you are buying the gold items best suited to meeting your goals.
Q. What is your view of gold stocks?
Answer. Many of our clients own gold stocks and we believe they have a place in the portfolio. However, it should be emphasized that gold stocks are not a substitute for real gold ownership, that is, in its physical form as coins and bars. Instead, stocks should be viewed as an addition to the portfolio after one has truly diversified with gold coins and bullion. Gold stocks can actually act opposite the intent of the investor, as some justifiably disgruntled mine company shareholders learned in the recent past when their stocks failed to perform as the price rose. There is no such ambiguity involved in actual ownership of gold coins and bullion. When gold rises, they rise with it.
Q. What about gold futures contracts?
Answer. Futures contracts are generally considered one of the most speculative arenas in the investment marketplace. The investor's exposure to the market is leveraged and the moves both up and down are greatly exaggerated. Something like 9 out of 10 investors who enter the futures market come away losers. For someone looking to hedge his or her portfolio against economic and financial risk, this is a poor substitute for owning the metal itself.
Q. What about ETFs?
A. Since, for one reason or another, it is difficult to take delivery from any of the ETFs, they are generally viewed as a price bet and not actual ownership of the metal. Most gold investors want possession of their gold because they are buying as a hedge against an economic, financial or pollical disaster. When disaster strikes, it does not do you much good to have your gold stored in some distant facility by a third party. For this reason, over the past couple of years the trend even with hedge fund operators has been away from the ETFs. In 2011, ETF sales plummeted while purchases of physical coins and bullion for delivery skyrocketed.
Q. Please summarize -- What is the best approach for the safe-haven investor?
Answer. If you want to protect yourself against inflation, deflation, stock market weakness and potential currency problems -- in other words, if you want to hedge financial uncertainties, there is only one portfolio item that will serve you in all seasons and under most circumstances -- gold coins and bullion. Make sure you do your homework on the company with which you choose to do business, and make sure that the gold ownership vehicle you choose truly reflects your goals and aspirations.
Though this interview will help you start safely on the road to gold ownership, it is just an overview. If you would like more detailed information, I would recommend my book, The ABCs of Gold Investing: How to Protect and Build Your Wealth With Gold, which covers the who, what, when, where, why and how of gold ownership in detail. You can also shortcut the learning curve by contacting our offices and asking to speak with one of our expert client advisors who will be happy to answer your questions and help you get off to a solid start.
About us.
Michael Kosares has nearly 40 years experience in the gold business and is the founder of USAGOLD. He is the author of The ABCs of Gold Investing: How to Protect and Build Your Wealth With Gold as well as numerous magazine and internet articles. He is frequently interviewed in the financial press. He is well-known for his ongoing commentary on the gold market and its economic, political and financial underpinnings
Gold Bumping Along the Bottom
Gold continues to bounce along the bottom, weighed by a firm dollar, which in turn is being buoyed by the ongoing exodus from the bond market. Today is also options expiration for the COMEX July gold contract.
Some generally good data today seems to bolster expectations of QE tapering later this year. The Case-Shiller index and the FHFA home price index both posted gains in April, indicative of continued recovery in the housing market. However, April was long before 30-year fixed mortgages pushed decisively back above the 4% level and started testing 5%.
May durable orders were solid, as was June consumer confidence, but again this was before the Fed pricked the bond bubble, sending rates surging and stocks tumbling. A New York Times article, picked up by CNBC, suggested the exit from the bond market is turning into a stampede.
In an ABC News interview in Australia, Tangent Capital Partner's James Rickards suggest that all the tapering talk is in fact just talk. Rickards points out that "the fundamentals of the U.S. economy are in terrible shape and there’s actually great risk of deflation, which is the Fed’s worst nightmare.”
Rickards suggests that those weak fundamentals will become readily apparent around August or September, at which point the Fed will start walking-back those tapering expectations. This sort of leads me to believe that Bernanke's intention all along was to relieve pressure in the bond and stock market, which had both arguably reached 'bubble' status. As the aforementioned NYT article states at the very beginning: "Wall Street never thought it would be this bad."
Deflation is indeed the worst nightmare of central banks, so removing accommodations in an environment devoid of the inflation that the Fed and other central banks have worked so hard — but unsuccessfully — to create seems counter-productive. Are they giving up, and acknowledging that they've lost control of rates? I seriously doubt that...
I'm inclined to agree with Rickards and others that all the taper hoopla is all that much hot air, designed to let some of the hot air out of the stock and bond bubbles.
United States $20 St. Gaudens
United States $20 Gold Piece
(St. Gaudens)
Minted 1907 - 1932
Gross Weight: 33.346 grams
Fineness: .900
Actual Gold Content: .9675 troy ounce
Note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available
Nothing demonstrates dollar depreciation to Americans more precisely than coins from the Gold Standard era, particularly the artistically beautiful and popular $20 gold pieces, also known as Double Eagles. Although each was minted with a face-value of $20, the coin's value today just in terms of gold content exceeds $1700. These items remain among the most popular gold acquisition items from Americans despite the typically higher premium.
The Liberty design was minted from 1850 to 1907 and was largely the product of the discovery of gold in Colorado and California. The St. Gaudens design, named after the sculptor Augustus St. Gaudens, is considered among the most beautiful renditions of the numismatic art. It was minted from 1907 to 1932, and is still frequently requested as an acquisition item.
The average premium during the past decade for the most common date U.S. $20 gold pieces has been in the 35% to 40% range, significantly higher than the premiums generally prevailing for other pre-1933 coinage. Double eagle prices track the gold price over time, but the premium fluctuates, thus increases and decreases in value do not necessarily follow gold on a dollar for dollar basis.
Given the prolonged nature of the financial crisis which began in 2008, and the continuation of economic uncertainties, demand should continue unabated for the Liberty and St. Gaudens coinage; and the average premiums could rise from their current lows as a result -- providing the potential for profit both from a rising gold price and rising premiums. Double eagles are generally available in uncirculated condition.
Gold IRA
Why gold makes sense in your retirement plan
As the ultimate long-term store of value, gold coins and bullion may very well be the ultimate retirement asset. Among the primary asset classes most often used in retirement planning -- stocks, bonds annuities and savings accounts -- gold stands out as the only one that does not rely on the performance of another individual or institution for value. This quality makes gold an ideal way to save for retirement for the times.
Former French president Charles DeGaulle once famously said of gold, it 'has no nationality and is eternally and universally accepted as the unalterable fiduciary value par excellence'. What better way to save for retirement than with the ultimate savings vehicle -- physical gold. We invite you to establish your gold retirement plan through USAGOLD.
How to set up your USAGOLD precioius metals' retirement account
The first step is to set up a self-directed account with our specially selected trust company (trustee). In a self-directed account, you decide which investments to make, and then direct the trust company to execute the transaction[s]. When you contact us, we will forward the proper paperwork by e-mail to open your trust account. Once you establish the account, you fund it with contributions or a rollover. The final step is for you to instruct the trust company to fund the purchase of precious metals from USAGOLD on your behalf. USAGOLD then deposits the metals directly into your account. The metals are stored fully insured at a well-known depository.
Approved precious metals products
Under the Internal Revenue Code, there are specific precious metals products allowed. The purity standard for gold is .999 pure, or 99.9 percent; for silver, .995 or 99.5 per cent pure; for platinum and palladium, .9995 or 99.95 percent pure. The one exception to the purity rule is the American Eagle gold coinage which is .916 net fine. These standards narrow the range of choices. You can purchase bullion bars or bullion coins for your plan. Bars must be manufactured by exchange-approved refiners.
Below is a list of allowable bullion coins:
Approved gold bullion coins include the U.S. Eagle, the U.S. Buffalo, the Canadian Maple Leaf, the Australian Kangaroo and the Austrian Philharmonic. These come in various sizes ranging from one troy ounce to one-tenth troy ounce.
Approved silver bullion coins include the U.S. Eagle, the Canadian Maple Leaf, Austrian Philharmonic and Mexican Libertad.
Approved platinum coins include the U.S. Eagle, the Canadian Maple Leaf, the Australian Koala and the Australian Platypus. There is only one approved palladium coin -- the Canadian Maple Leaf.
Proof American Eagles are also allowed but are not advisable in a precious metals’ IRA due to vast premium disparities based on different interpretations of numismatic value. The best course of action is to stick with products from the above list that trade at lower premiums.
Transfers and Rollovers
Transferring a traditional or Roth IRA to a gold backed IRA is relatively simple. Alternatively, the term “rollover” actually refers to the rolling over of assets from a 401 (k) plan or some other qualified retirement plan to a self-directed IRA. In these cases, an employee must usually be separated from employment in order to establish a rollover.
Including precious metals in your retirement plan is a good idea, but make sure you approach the task under the guidance of a gold firm that has a good reputation and solid experience in this area. Generally speaking, the guidelines that apply to precious metals ownership outside your IRA also apply to owning the precious metals inside your IRA.
How to buy gold coins and bullion
Getting started with your gold purchase
Some complicate buying gold, but in reality it is a relatively simple process. The following guideline is the result of our experience helping thousands of investors make their initial gold purchase. If you have questions at any point along the way, we welcome your telephone call. We think you will find our low-key, no-hassle approach conducive to your making good decisions about gold ownership.
1. Develop a good sense of the role you would like gold to play in your overall portfolio. For beginners, our Q&A section, What you need to know before you buy your first ounce of gold, provides a quick and helpful introduction to gold ownership. This page is well worth your time. It will help you avoid some of the costly mistakes often made by first time investors.
If you would like to gain a more comprehensive introduction to buying gold coins and bullion, we offer the widely-read book, The ABCs of Gold Investing: How to Protect and Build Your Wealth With Gold. This well-received ownership guideline is also available online through Amazon.com, Barnes & Noble and at most bookstores.
2. Decide how much of your overall portfolio should be committed to gold coins and bullion. The old adage still applies: "Put 10% of your money in gold and hope you never need it." Recently, CNBC television commentator Jim Cramer strongly advocated a 20% diversification. We suggest between 10% and 30% depending upon your level of concern about the economy (after subtracting the equity in your home).
3. Match your portfolio choices to your objectives. Our two most popular portfolio inclusions at this time are contemporary gold bullion coins and historic pre-1933 gold coins (the low-premium variety that track the gold price). In fact USAGOLD's overall volume is split roughly 50%-50% between the two groupings. Each plays a particular role in the portfolio. The reading material suggested in step one offers details in this regard, or we invite you to contact our trading desk to be referred to one of our experienced consultants.
4. Choose the right gold firm. You can probably imagine the horror stories we have heard over the years. It is surprising though how so many of these bad experiences could have been avoided with a simple background check at the Better Business Bureau or by spending a little time with the right reading material like the suggestions made above. Ultimately, your choice of a gold firm can mean the difference between success and failure as a gold owner.
(Note: USAGOLD has been awarded the Better Business Bureau's Gold Star Certificate, its highest accolade. In addition, the firm has been rated A+ by the BBB with zero consumer complaints. The firm has been accredited since 1991.)
5. Make an informed decision. This website offers a significant amount of information on gold ownership to help first-time investors. It also offers news, opinion and constantly updated market information to keep you posted after you become an owner. We invite you to browse and get to know us.
Placing Your First Order with USAGOLD
1. Prepare a list of questions you would like to have answered by one of the firm's expert gold ownership consultants.
2. Contact our trading desk for current pricing and to have your questions answered.
3. Lock-in your order over the phone. It will be followed by an e-mail confirmation for your records.
4. Remit payment by wire or personal check.
5. Sit back and relax while we fulfill your order. In our 40 years as a gold firm assisting thousands of clients, we have never failed to honor an agreed-upon price or to deliver metal as ordered in a timely manner.
Some complicate buying gold, but in reality it is a relatively simple process. The following guideline is the result of our experience helping thousands of investors make their initial gold purchase. If you have questions at any point along the way, we welcome your telephone call. We think you will find our low-key, no-hassle approach conducive to your making good decisions about gold ownership.
1. Develop a good sense of the role you would like gold to play in your overall portfolio. For beginners, our Q&A section, What you need to know before you buy your first ounce of gold, provides a quick and helpful introduction to gold ownership. This page is well worth your time. It will help you avoid some of the costly mistakes often made by first time investors.
If you would like to gain a more comprehensive introduction to buying gold coins and bullion, we offer the widely-read book, The ABCs of Gold Investing: How to Protect and Build Your Wealth With Gold. This well-received ownership guideline is also available online through Amazon.com, Barnes & Noble and at most bookstores.
2. Decide how much of your overall portfolio should be committed to gold coins and bullion. The old adage still applies: "Put 10% of your money in gold and hope you never need it." Recently, CNBC television commentator Jim Cramer strongly advocated a 20% diversification. We suggest between 10% and 30% depending upon your level of concern about the economy (after subtracting the equity in your home).
3. Match your portfolio choices to your objectives. Our two most popular portfolio inclusions at this time are contemporary gold bullion coins and historic pre-1933 gold coins (the low-premium variety that track the gold price). In fact USAGOLD's overall volume is split roughly 50%-50% between the two groupings. Each plays a particular role in the portfolio. The reading material suggested in step one offers details in this regard, or we invite you to contact our trading desk to be referred to one of our experienced consultants.
4. Choose the right gold firm. You can probably imagine the horror stories we have heard over the years. It is surprising though how so many of these bad experiences could have been avoided with a simple background check at the Better Business Bureau or by spending a little time with the right reading material like the suggestions made above. Ultimately, your choice of a gold firm can mean the difference between success and failure as a gold owner.
(Note: USAGOLD has been awarded the Better Business Bureau's Gold Star Certificate, its highest accolade. In addition, the firm has been rated A+ by the BBB with zero consumer complaints. The firm has been accredited since 1991.)
5. Make an informed decision. This website offers a significant amount of information on gold ownership to help first-time investors. It also offers news, opinion and constantly updated market information to keep you posted after you become an owner. We invite you to browse and get to know us.
Placing Your First Order with USAGOLD
1. Prepare a list of questions you would like to have answered by one of the firm's expert gold ownership consultants.
2. Contact our trading desk for current pricing and to have your questions answered.
3. Lock-in your order over the phone. It will be followed by an e-mail confirmation for your records.
4. Remit payment by wire or personal check.
5. Sit back and relax while we fulfill your order. In our 40 years as a gold firm assisting thousands of clients, we have never failed to honor an agreed-upon price or to deliver metal as ordered in a timely manner.
Mexico 50 Pesos, 20 Pesos
Mexico 50 and 20 pesos
Minted: 50 pesos 1921 to 1931; 1944 to 1947
20 pesos 1917 to 1921; 1959
Fineness: .900
Actual Gold Content: 50 pesos - 1.2057 troy ounce / 20 pesos - .4823 troy ounces
Note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available
The 20th century is rife with examples of financial breakdown and Mexico's rendezvous with economic disaster in 1994 is among the most instructive. The crisis began, as happens so often in these affairs, with a surprise announcement by Mexico's government that the currency had been devalued. As soon as it was made public, depositors lined up at the banks to retrieve their money and inundated brokerages with sell orders. A general panic gripped the nation almost immediately. The inflation rate went to 50% overnight, and interest rates soared to 70%.
Only a proper diversification into gold well before the crisis emerged properly insulated savers from the devaluation's pervasive reach into every area of the financial system. In many cases, those who managed to diversify did so in the physical gold former-coinage of the country. Immediately after the devaluation, the price of gold went from 1200 pesos per ounce to 2500 pesos, and from there it exceeded 3000 pesos in 1995, living up to its reputation as a safe-haven for investors.
In 1910 Mexico celebrated the Centennial of the beginning of its War of Independence with Spain. To commemorate the event, a giant column was erected in the middle of Mexico City with a statue of El Angel de la Independencia (The Angel of Independence), sitting atop. This 6.7-meter statue, constructed of Bronze and Gold, represents the "Winged Victory," a Greek symbol for the goddess Nike (Victory). In her right hand the Angel holds a laurel crown, symbolizing Victory, while in her left she holds a broken chain, symbolizing Freedom.
First minted in 1921, the 50 Pesos gold coin honors the Centennial of the successful end of Mexico's War of Independence. "El Angel" is pictured on the coin opposite the national coat of arms. The Mexican coat of arms depicts a golden eagle devouring a snake while perched atop a cactus.
Only the 20 peso gold coin features the modern version of the coat of arms, with the eagle facing sideways. On the reverse of the 20 Pesos gold coin is the Aztec Calendar, or Sun Stone, likely the most recognizeable symbol of Mexico.
Comparative mintages illustrates relative scarcity
Less than 1/10 as many Mexico 50 pesos were struck as US $20 St. Gaudens during the 1920s alone. If you include the total mintage of $20 gold pieces across their 80 year production, the total population of Mexico 50 pesos is a mere 3% that of the $20 gold pieces. With premiums on uncirculated $20 gold pieces at times topping 50%, the opportunity for long-term premium growth in the Mexican 50 Pesos coins is notable. From 1921 to 1931, over 4.9 million 50 pesos were struck compared to nearly 50 million $20 St. Gaudens.
Roughly half as many Mexican 20 pesos were minted as US $10 Indians -- 6.1 million 20 pesos versus 13.9 million $10 Indians. By including the Indian's predecessor, the $10 Liberty (minted from 1843-1907), the total mintage of $10 gold pieces increases to just over 56 million coins. With roughly 1/10 the mintage, the comparatively low premium on the Mexico 20 pesos is especially attractive when considering the 50% premium often carried by $10 gold pieces in uncirculated condition.
As a final note of clarification, the information above does not include re-strike versions of both the 50 pesos and 20 pesos. Both coins were heavily re-struck from 1944-1975, typically carrying the date 1947 in the case of the 50 pesos, and 1959 in the case of the 20 pesos. These re-strike coins are bullion items that carry lttle to no premium potential.
Italy 20 Lira
Italian 20 Lira
(Victor Emanuele II and Umberto I)
Minted: Victor Emanuele II - 1861 - 1874
Umberto I - 1880 - 1897
Fineness: .900
Actual Gold Content: .1867 troy ounce
Note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available
Victor Emanuele's place in history is inextricably connected to that of Giuseppe Garibaldi, the Italian revolutionary leader with whom he collaborated to unite Italy under a single kingdom in the mid-19th century. Prior to that, Italy was a loose confederation of states. Known among the Italian people as 'the honest king,' Victor Emmanuel became the symbol and central figure of the 'Risorgimento,' and spent the rest of his monarchy consolidating the new kingdom.
Umberto I, also known as Humbert I, was King of Italy from 1878 until his death in 1900. He was son to Victor Emmanuel II, who united Italy under a single kingdom during the 'Risorgimento' movement of the 19th century. Umberto I was the only modern King of Italy to die by assassination, killed by the Italo-American anarchist Gaetano Bresci. In history, Umberto I was referred to as "The Good" although he was wildly unpopular throughout his rule with left-wing circles. His assassination was said to be retribution for his praise of General Fiorenzo Bava-Beccaris' restoration of order during an uprising in the city of Milan. In this uprising, Bava-Beccaris used a cannon against demonstrators protesting the rising cost of bread. Two assassination attempts on Umberto I immediately followed, with the third attempt ultimately claiming the King's life in 1900.
The Italian 20 Lira coinage under Emanuele and Umberto was relatively short-lived and the mintages small when compared to other items in its genre. These items are generally available in uncirculated condition and are essential to any collection of 19th and 20th century gold coins. Despite the small mintage, the pricing is favorable.
France 20 Francs Angel
French 20 Francs
(Angel)
Minted 1871 - 1898
Fineness: .900
Actual Gold Content: .1867 troy ounce
Note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available
Owning the famous French Angel gold coin has always been considered good luck. Legend has it that an earlier version accompanied Napoleon in his quest to conquer Europe. He carried it in the long march to Russia and back until he finally misplaced it -- the day before the Battle of Waterloo. When the coin's designer, Augustine Dupre, was sentenced to death, he held a gold Angel as he prayed for his life; it caught the eye of his guard, allowing him to 'negotiate' his escape from the guillotine.
There are literally thousands of storiesabout the powers of the 'French Angel.' There are stories of people who claim their lives were saved during some tragic event to those who extol its healing powers from terminal cancer and other diseases. I have even found websites where many have told their stories. Never have I seen so much mysticism surrounding a numismatic coin. This is a coin that any collector can enjoy for its beauty, but the stories behind this coin really make it a collectors' must have piece." -- Raymond Hanisco, Coin Collecting Editor, Bella Online.
The French Angel characterizes the ideals of the French Revolution. Symbolically, the angel depicted on the obverse represents the Spirit of France and he is shown on the coin writing the French Constitution. A rooster symbolizing vigilance appears next to the angel. Behind the angel stands the fasces or bundle of rods - a symbol of power previously carried by Roman magistrates. On top of the fasces is the Cap of Liberty, which also appears on U.S. coinage with the same meaning. The slogan "Liberte, Egalite, Fraternite" appears on the reverse along with the date.
French Angels are readily available in uncirculated condition, but be careful of commercial offerings at very high prices. At present, you don't have to pay much more for the French Angel in uncirculated condition than for other 20 franc coins. We have handled large hoards of very high grade uncirculated Angels.
Belgium 20 Francs
Belgian 20 Franc
(Leopold)
Minted 1867 - 1882
Fineness: .900
Actual Gold Content: .1867 troy ounce
Note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available
If one takes the time to contrast the computerized replication of modern currencies at little or no cost with the old world elegance, solidity and beauty of these Belgian gold coins, the argument for gold ownership makes itself. The "Leopold" invokes a simpler time when the long-term purchasing power of the national money was not an issue and the great nations of the world forthrightly made their money from gold. The saver knew that 20 francs deposited would translate to the same 20 francs in value when withdrawn.
Leopold II, whose portrait this coin bears, ruled Belgium from 1869 until his death in 1909. Leopold believed that establishing overseas colonies was the key to a country's success, and he worked tirelessly to acquire colonial territory on the behalf of Belgium. Receiving little support from the Belgian government or the Belgian people, Leopold formed a private holding company to pursue his colonial interests. In 1879, Leopold hired the famous explorer Henry Morton Stanley to establish a colony in the Congo region of Africa. At the Berlin Conference in 1885, representatives from the United States and European countries recognized Leopold as sovereign of the Congo Free State, an area roughly 75 times the size of Belgium. History does not look kindly on Leopold's actions from this point forward, as the King exploited horribly both the people and the land in the Congo region. Though he generated substantial personal wealth through the procurement of rubber and ivory, the Belgian parliament ultimately forced him to cede the land to his country in 1908.
The obverse shows Leopold II facing right. On the reverse is the Belgian coat of arms, and the inscription, "L' Union Fait La Force" or "The Union Makes Strength".
"Leopolds" are slightly more difficult to obtain than other twenty franc gold coins, and the average condition is slightly below that of the more readily available British Sovereign or Swiss Helvetia
United States $20 Liberty
United States $20 Gold Piece
(Liberty)
Minted: 1850-1907
Gross Weight: 33.346 grams
Fineness: .900
Actual Gold Content: .9675 troy ounce
Note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available
Nothing demonstrates dollar depreciation to Americans more precisely than coins from the Gold Standard era, particularly the artistically beautiful and popular $20 gold pieces, also known as Double Eagles. Although each was minted with a face-value of $20, the coin's value today just in terms of gold content exceeds $1700. These items remain among the most popular gold acquisition items from Americans despite the typically higher premium.
The Liberty design (pictured left above) was minted from 1850 to 1907 and was largely the product of the discovery of gold in Colorado and California. The St. Gaudens design, named after the sculptor Augustus St. Gaudens, is considered among the most beautiful renditions of the numismatic art. It was minted from 1907 to 1932, and is still frequently requested as an acquisition item.
The average premium during the past decade for the most common date U.S. $20 gold pieces has been in the 35% to 40% range, significantly higher than the premiums generally prevailing for other pre-1933 coinage. Double eagle prices track the gold price over time, but the premium fluctuates, thus increases and decreases in value do not necessarily follow gold on a dollar for dollar basis.
Given the prolonged nature of the financial crisis which began in 2008, and the continuation of economic uncertainties, demand should continue unabated for the Liberty and St. Gaudens coinage; and the average premiums could rise from their current lows as a result -- providing the potential for profit both from a rising gold price and rising premiums. Double eagles are generally available in uncirculated condition.
Germany 20 Marks
German 20 Marks
Wilhelm I and Wihelm II
Minted 1871 - 1913
Fineness: .900
Actual Gold Content: .2304 troy ounce
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The later German 20 Mark gold coins are two of the most popular with investors. As the last gold coin minted prior to the disastrous inflation that befell Germany in the 1920s, they proved to be life-savers for those who had the foresight to put some away before economic disaster struck. At the height of the 1920's Nightmare German Inflation, a family's life savings could not purchase a cup of coffee. A purse of Wilhelm 20 Mark gold coins on the other hand stubbornly held its value, a lesson that has not been lost on the modern saver, particularly those of German descent. Even today, it is said the nightmare inflationary experience of the 1920s affects central bank and federal government economic policy.
Wilhelm I
Wilhelm I was known for his deep religious convictions, high sense of honor and integrity. But showing little political interest, his primary goal upon ascending to the Prussian throne in 1861 was to reorganize and strengthen the Prussian army. He was met with opposition from the Prussian legislature, and his desire to remain politically neutral led to his appointment of Otto von Bismark as his prime minister in 1862. Bismark proved to be far more historically significant than Wilhelm I, engaging Prussia in a number of conflicts aimed at attaining the goal of a unified German Empire. Perhaps the most notable of these conflicts was the Franco-Prussian War of 1870-71. Upon the defeat and surrender of Napoleon III at Sedan, Wilhelm I was proclaimed the first emperor of Germany (Kaiser) in 1871.
Wilhelm II ascended the throne of Germany in June of 1888. Fairly or not, he is generally recorded in history as one of its dark players -- highly intelligent, but also tactless, vain, ambitious and adventurous. Historians believe his policies in the early 20th century, particularly toward Britain and France, drove Europe to the brink of war. His personal blunders also strained Germany's diplomatic relations with other countries.
Wilhelm II
The most well known instance of this may be the "Daily Telegraph Affair" of 1908. When Wilhelm was offered an interview with the newspaper, he saw it as an opportunity to promote his views and ideas on Anglo-German friendship. Instead, due to his emotional volatility and subsequent outbursts during the course of the interview, Wilhelm ended up further alienating not only the British people, but also the French, Russians, and Japanese all in one fell swoop. He effectively implied that the Germans cared nothing for the British; that the French and Russians had attempted to instigate Germany to intervene in the Second Boer War (a war between the British and republics within South Africa, resulting in their addition to the British Empire); and that the German naval buildup during that time period was targeted against the Japanese, not Britain.
Netherlands 10 Guilders Queens
Dutch 10 Guilder
(Queens)
Minted 1892 - 1933
Fineness: .900
Actual Gold Content: .1947 troy ounce
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Holland is most famous in financial history for its Tulipmania in 1637 -- the prototype financial bubble against which all other bubbles will forever be measured. The price of one special, rare type of tulip bulb called Semper Augustus was 1000 guilders in 1623, 1200 guilders in 1624, 2000 guilders in 1625, and 5500 guilders in 1637. Shortly thereafter, the bottom fell out on the market and prices plummeted to 1/200 of their peak price.
Though tulip bulbs have spent the last 366 years in happy financial dormancy, the more contemporary mania involving stocks and irredeemable paper money continue to crop around the globe with disturbing regularity. A Dutch newspaper reported in 2002 that there now exists a tulip appropriately named Dow Jones, and advised that stock market investors might consider cashing in their holdings and investing the proceeds in (you guessed it) . . . tulip bulbs. It seems they are once again on the upswing. History teaches us that gold coins, like the Dutch 10 Guilder, protect one's portfolio against such mania.
Queen Wilhelmina, no-one's fool, ascended the throne at a young age after the parliament passed a special law allowing a woman to become monarch. She first displayed an incisive intelligence during a meeting with the powerful Kaiser Wilhelm II of Germany prior to World War I. Wilhelm boasted to the young Wilhelmina that "my guards are seven feel tall and yours are only shoulder high to them." To this she replied politely: "Quite true, Your Majesty, your guards are seven feet tall, but when we open our dikes, the water is ten feet deep!"
Later, Wilhelmina would display this same acumen in the world of business and finance. She amassed a fortune through various business dealings and investments that surpassed a billion dollars, making her the first female billionaire in history. She moved throughout her life in the highest circles of international finance. Known for her spunk, she called Adolf Hitler "the archenemy of mankind" after being forced to leave Holland for England during the German invasion. In 1953, when the country was devastated by floods, she bicycled the countryside at 73 years of age offering hope and inspiration to the Dutch people. Her rule lasted a remarkable fifty-eight years. This series -- both the king and queen varieties -- remains a popular addition to accumulations in both the United States and Europe.
Australia Kangaroo
Fineness: .9999
Actual Gold Content: 1.0 troy ounce (31.103 grams)
Diameter: 32.1 mm
Face value: $100
(Also minted in 1/2, 1/4, 1/10 ounce sizes)
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The Australian Kangaroo, like the Chinese Panda, incorporates a different design each year. Only in Australia's case it features the famous marsupial, after which it is named. First produced in 1989, the mintages are generally low when compared to other gold bullion coins -- a feature that heightens its appeal as a collectors' item.
The Kangaroo is a pure, legal-tender gold coin (.9999 fine) and comes in one-ounce (troy), half-ounce, quarter-ounce, tenth-ounce and twentieth-ounce sizes. The Kangaroo also comes uniquely in a kilo-sized gold coin weighing 32.15 ounces. The coins come in protective wrappers to protect the delicate pure gold surfaces. The obverse of the coin bears the portrait of Queen Elizabeth II of Great Britain. The coins are struck with their weight, the face value and the purity. All issues are struck by the Perth Mint and valued for their high-quality finish and artistic workmanship.
Netherlands 10 Guilders King
Dutch 10 Guilder
(Kings)
Minted 1875 - 1889
Fineness: .900
Actual Gold Content: .1947 troy ounce
Note: We encourage you to compare our prices to those of firms with
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Holland is most famous in financial history for its Tulipmania in 1637 -- the prototype financial bubble against which all other bubbles will forever be measured. The price of one special, rare type of tulip bulb called Semper Augustus was 1000 guilders in 1623, 1200 guilders in 1624, 2000 guilders in 1625, and 5500 guilders in 1637. Shortly thereafter, the bottom fell out on the market and prices plummeted to 1/200 of their peak price.
Though tulip bulbs have spent the last 366 years in happy financial dormancy, the more contemporary mania involving stocks and irredeemable paper money continue to crop around the globe with disturbing regularity. A Dutch newspaper reported in 2002 that there now exists a tulip appropriately named Dow Jones, and advised that stock market investors might consider cashing in their holdings and investing the proceeds in (you guessed it) . . . tulip bulbs. It seems they are once again on the upswing. History teaches us that gold coins, like the Dutch 10 Guilder, protect one's portfolio against such mania.
Dutch Kings, as they have come to be known, are more difficult to obtain than the better-known Queen Wilhelmina 10 Guilder gold coins shown on the next page, though high-end brilliant uncirculated specimens show up often. The obverse depicts King Willem III, a ruler known for his autocratic tendencies. England's Victoria referred to him as the 'uneducated farmer.' He died in 1890 leaving the throne to his precocious daughter, Wilhelmina.
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Switzerland 20 Francs Helvetia
Swiss 20 Franc
(Helvetia or Vreneli)
Minted 1897 - 1935
Fineness: .900
Actual Gold Content: .1867 troy ounce
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Owing to its central geographic location among the great powers of Europe, Switzerland has been a commercial and banking center for centuries. It is famous for its role in the gold market where "the gnomes of Zurich" are said to hold much sway. The "gnomes" made their first splash in the gold market when they convinced South Africa that Swiss bankers would be a better market for its gold than the London variety. Russian gold business quickly followed the South African lead. Noted gold authority Timothy Green once said that, "Gold is as much a part of Switzerland as the Alps and skiing."
Many individuals in Europe and elsewhere who do not trust their own governments and financial systems trust the Swiss to handle their money. As a result, much of the world's privately held gold is stored secretly in Swiss vaults. For centuries, Swiss bankers and money men have recommended gold coins and bullion as standard portfolio inclusion.
The Swiss 20 franc gold coins reflect Switzerland's commitment to both gold and republican principles. The 'Helvetia' is one of the most popular pre-1933 European gold coins, and traditionally trades at a very low premium over the gold price.
The Swiss 20 franc Helvetia is referred to informally as the "Vreneli" derived from "Verena" which is Switzerland's equivalent to the United States Lady Liberty. Modeled by Francoise Engli, this female visage appears on the obverse of the gold coin with the word "Helvetia" written above her head. When the Roman Empire extended northward into Gaul during the second century B.C., the Helvetii were the dominant tribe in the area, and thus Switzerland became known to the Romans as Helvetia. On the reverse is a picture of the Swiss Cross surrounded by a shield, lying on an oak branch.
Investor Note: Some firms offer the 1935 mintage at a lower comparative price to the earlier coinage. If your interest is to acquire items dated before 1933, be certain that you are not inadvertently buying the 1935 item.
Great Britain Sovereign Kings
British Sovereign Kings
(King Edward VII, George V)
Minted 1902 - 1925
Fineness: .917
Actual Gold Content: .2354 troy ounce
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The first British Sovereign was minted under Tudor King Henry VII in 1489 (not shown). It gets its name from that first mintage which depicts the monarch seated majestically on the throne facing outward. The current design type with St. George slaying a dragon on the reverse and the monarch on the front was introduced nearly 200 years ago in 1816 under George III.
The Sovereign was minted almost continuously from that date until 1932, when Britain went off the gold standard. Minting was resumed in 1957, as a bullion coin, with Queen Elizabeth on the obverse. As such, it holds the distinction of being the only pre-1933 coin to carry over to the modern era.
British Sovereign 'kings' minted during the reigns of Edward VII (left image)and George V (middle image) are probably the most widely owned and recognized gold coins in the world -- so much so that the U.S. Army included them as part of its special forces survival pack for a number of years. Over 600 million of the St. George design Sovereigns were minted from 1816 to 1932, and other types come in a high state of preservation. Still today, an original bag of one thousand occasionally shows up in the marketplace.
The Edwardian era, named for Edward VII (left), differed sharply from the rigid and puritanical Victorian age which preceded it. Edward VII was the eldest son of Queen Victoria, and ruled Britain from 1901-1910. Queen Victoria insisted on an incredibly strict regimen for Edward, while never allowing his involvement in political affairs. As a result, Edward led a rebellious, indulgent lifestyle that many felt would compromise his ability to be an effective monarch. To the chagrin of his critics, Edward ruled peacefully and effectively during his reign, saving Britain from a budgetary crisis and strengthening relationships with European powers. Edward's reign was a brief and happy time of peace and prosperity for Britain before the shadow of World War I descended upon Europe. He died in 1910 of a heart attack.
His second son, George V (right with wife, Queen Mary) succeeded his rule in 1910. George led Britain through World War I and the negative effects brought on by the US Depression of 1929-1931. English Historian Robert Lacey describes George: ". . . as his official biographer felt compelled to admit, King George V was distinguished 'by no exercise of social gifts, by no personal magnetism, by no intellectual powers. He was neither a wit nor a brilliant raconteur, neither well-read nor well-educated, and he made no great contribution to enlightened social converse. He lacked intellectual curiosity and only late in life acquired some measure of artistic taste.' He was, in other words, exactly like most of his subjects. He discovered a new job for modern kings and queens to do -- representation." George V and his wife, Queen Mary, made the monarchy a symbol of conservative, middle-class virtue. George relinquished his German titles and adopted the name of Windsor for the British royal house.
Great Britain Sovereign Queens
British Sovereign Queens
(Jubilee and Veil Head design)
Minted 1893 - 1901
Fineness: .917
Actual Gold Content: .2354 troy ounce
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The Queen Victoria sovereign gold coins invoke a special nostalgia for a time when the British Navy ruled the seas, and the sun never set on the Empire. London flourished as the trading and financial capital of the world; Britain became the center of rapid technological innovation; and, India glittered as the Crown Jewel of the Empire. The gold Sovereign came to symbolize British financial solidity and to this day enjoys a strong international market, wide-spread recognition and strong liquidity.
The mints were pressed to keep pace with Queen Victoria's 64 year reign. Several different portraits were utilized beginning with the Young Head Portrait (1838-1887/not shown), followed by the Jubilee Head design (left image) meant to commemorate the 50th year of Queen Victoria's rule (1887-1893) and finally the Veil Head design (1893-1901) which features the mature Victoria (middle image). All three designs display St. George slaying the dragon on the reverse (right image). The Queen Victoria sovereigns have lower mintages and are considerably scarcer than the King sovereign issues of Edward VII and George V which followed.
The Young Head is offered for sale in quantity infrequently. The Jubilee is more readily available, and the Veil head is seen more often than the rest. For the most part, the early Queen Sovereigns are either on the low end of uncirculated or circulated condition, with the Veil head variety often sold in uncirculated condition at a premium to the King Sovereigns.
Gold bullion bars
Gold bar sizes: Generally, one ounce, ten ounce, kilo (32.15 troy ounces), one-hundred ounce
Refineries: PAMP, Credit Suisse, Johnson Matthey, Royal Canadian Mint, Metalor etc.
Fineness: .999 to .9999 (Most bullion bars)
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New Product - CombiBar™
Gold bars are produced in a wide variety of sizes, shape, and fineness, most of them destined for one-way transit to manufacturing end-users who intend to refabricate the gold into other forms such as industrial/electronic plating or decorative applications. Most gold bars are not intended for use as investment products (i.e., recirculated on the secondary public market) primarily because their authentic weight and purity both fall into question owing to the ease of tamperability once the bars have traveled outside of the original commercial chain of custody.
Generally speaking, we recommend the purchase of gold bars only when the bars are stored at a depository and never leave the storage account, as is the case with most retirement plan purchases and the USAGOLD Precious Metals Trading and Storage Program. We do not gaurantee repurchase when a client takes delivery of the bars and then wishes to ship and liquidate. For the individual investor who demands more flexibility with regard to both portability and liquidity, gold coins fit the bill perfectly and are by far the most popular form of gold ownership.
Austrian Philharmonic
Fineness: .9999
Actual Pure Gold Content: 1.0 troy ounce
Diameter: 37mm
Face value: 2000 schillings or 100 euro
(Also minted in 1/2, 1/4, 1/10 ounce sizes
Please note: We encourage you to compare our prices to those of firms with
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The Austrian (also Vienna) Philharmonic is the best-selling gold coin in Europe. Attesting to its international popularity as one of the "pure gold coins" the Philharmonic led sales worldwide in 1992, 1995 and 1996, according to the World Gold Council. In 2008, at the height of the worldwide credit-financial crisis, more one-ounce Philharmonics were sold on a global basis than U.S. Eagles or Krugerrands. Like its competitors, the Philharmonic tracks the gold price and is internationally liquid.
As already mentioned, the Philharmonic is struck in pure, 24-karat gold. The obverse of the coin depicts the great organ in Vienna's concert hall, home of the famed Vienna Philharmonic Orchestra. The obverse shows a harmonious medley of musical instruments -- a string base, cellos, violins, a bassoon, harp and Viennese horn. The Philharmonic is minted in one-ounce (troy), half-ounce, quarter-ounce and one-tenth ounce sizes with successive face values of 100, 50, 25 and 10 euros respectively. Earlier mintages before the creation of the euro were denominated in schillings.
In 2004, the Austrian Mint issued a 1000-ounce gold Philharmonic to mark the 15th anniversary of the popular bullion coin. It has a face value of 100,000 euros. Fifteen coins were struck and they sold out within two weeks of offer. The relief on the coin was sculpted by computer and finished by hand. Each coin took 130 hours to mint. Not to be mistaken for pocket change, the 1000-ounce Philharmonic is listed in the Guinness Book of World Records as the world's largest gold coin.
American Buffalo
Fineness: .9999
Actual Gold Content: 1.0 troy ounce (31.103 grams)
Face value: $50
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The American Buffalo gold bullion coins are struck by the United States Mint's facility at West Point and have the distinction of being the first pure gold (.9999 fine, 24-karat gold) coins ever struck by the U.S. Mint for public sale as an investment product. Production of these coins was authorized by the Presidential $1 Coin Act (Public Law 109-145, dated December 22, 2005) which provides for gold bullion to be minted in the form of $50 legal tender coins, conveying that the content and purity is guaranteed by the United States Government.
According to the official U.S. Mint press release on June 20, 2006:
"This American Buffalo Gold Coin will appeal to both investors who choose to hold gold and to others who simply love gold," said Deputy Director David A. Lebryk during the ceremonial striking at the United States Mint at West Point, where the coins are being produced. "These classic and beautiful American Indian and buffalo designs by James Earle Fraser [a student of Augustus Saint-Gaudens], which have been American favorites since they were first used in 1913, recall a golden age of coin artistry."
[These bullion coins] portray the images of the revered Buffalo Nickel of 1913, Type 1. The iconic James Earle Fraser image of an American bison graces the reverse (tails side), and Fraser's classic design of an American Indian is featured on the obverse (heads side). The American Buffalo Gold Coin has inscriptions of the coin's weight, denomination and gold content incused on the reverse (Buffalo side) in the design area commonly known as the "grassy mound."
Actual Gold Content: 1.0 troy ounce (31.103 grams)
Face value: $50
Please note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available.
The American Buffalo gold bullion coins are struck by the United States Mint's facility at West Point and have the distinction of being the first pure gold (.9999 fine, 24-karat gold) coins ever struck by the U.S. Mint for public sale as an investment product. Production of these coins was authorized by the Presidential $1 Coin Act (Public Law 109-145, dated December 22, 2005) which provides for gold bullion to be minted in the form of $50 legal tender coins, conveying that the content and purity is guaranteed by the United States Government.
According to the official U.S. Mint press release on June 20, 2006:
"This American Buffalo Gold Coin will appeal to both investors who choose to hold gold and to others who simply love gold," said Deputy Director David A. Lebryk during the ceremonial striking at the United States Mint at West Point, where the coins are being produced. "These classic and beautiful American Indian and buffalo designs by James Earle Fraser [a student of Augustus Saint-Gaudens], which have been American favorites since they were first used in 1913, recall a golden age of coin artistry."
[These bullion coins] portray the images of the revered Buffalo Nickel of 1913, Type 1. The iconic James Earle Fraser image of an American bison graces the reverse (tails side), and Fraser's classic design of an American Indian is featured on the obverse (heads side). The American Buffalo Gold Coin has inscriptions of the coin's weight, denomination and gold content incused on the reverse (Buffalo side) in the design area commonly known as the "grassy mound."
South African Krugerrand
Fineness: .9167
Actual Gold Content: 1.0 troy ounce (31.103 grams)
Diameter: 34 mm
(also minted in 1/2, 1/4, 1/10 ounce sizes)
Please note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available.
The history of South Africa is inextricably bound to gold. Since the time the metal was first discovered in the Transvaal by Alec "Wheelbarrow" Patterson in 1873, the international ebb and flow of gold's fortunes figured directly in the fortunes of South Africa itself. The two Boer Wars in the late 19th century, between Dutch (Afrikaners) and British settlers, were essentially territorial battles over the South African gold fields. Paul Kruger, whose portrait graces the obverse of the famed Krugerrand bullion gold coin, led the Afrikaners and in 1883 became the first president of the new South African Republic. At the end of the 19th century, the Second Boer War culminated in defeat of the Afrikaners resulting in British accession to sovereignty.
Shortly thereafter, the Union of South Africa became the largest gold producing country in the world -- a position it held for most of the 20th century with production at times accounting for as much as one-third the world's total output. Now, the South African mines, some of the deepest in the world, are in decline, and South Africa ranks as the world's second largest producer behind China.
The first Krugerrand was minted in 1967 as a gold bullion coin, the value of which was based upon the international spot price of the metal. The concept of a one ounce gold coin tied to spot gold's fluctuations quickly caught on. Nearly 50 million have been minted since 1967.
The Krugerrand is an alloyed coin at 22 karats, or .9167 purity. Denominated as one ounce of gold, it is struck with no face value indicated on the coin. Quite often contemporary investors purchasing Krugerrands are surprised to discover the coin they purchased bears a date other than the current year. This is testimony to the coin's duration as a market item and the strong secondary market it enjoys.
Featured on the coin's reverse is the springbok, a natural inhabitant of the dry savannahs able to run at speeds up to 80 km/hr and jump over 10 meters. The springbok is the icon of the national rugby team.
The Krugerrand was the first legal tender gold bullion coin to gain worldwide use in the modern era. To this day, many gold owners equate gold ownership with Krugerrand ownership. The Krugerrand as a bullion item received its first competition from the Canadian Maple Leaf, introduced in 1979. Eventually the Krugerrand was supplanted as the world's top seller -- in 1984 the U.S. Congress banned the import of the Krugerrand as part of the economic sanctions imposed on South Africa. The premium dropped to slightly-above the spot gold price and has only recently recovered in concert with the latest bull market rally in gold.
Canadian Maple Leaf
Fineness: .9999
Actual Gold Content: 1.0 troy ounce (31.103 grams)
Diameter: 30 mm
Face value: $50
(also minted in 1/2, 1/4, 1/10 ounce sizes)
Please note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available.
Canada made its entry in the competitive bullion gold coin market in 1979 with the Maple Leaf, the first pure gold bullion coin -- a concept which quickly garnered a significant share of market interest. In early advertisements, Maple Leaf coins were pictured flowing from a gold bullion bar -- an artifice which effectively made the point that bullion gold coins' pricing was related to the spot price. At the time of its unveiling, the Maple Leaf's only competitor was the South African Krugerrand -- a coin alloyed with copper to 22 karat. It is produced in one-ounce, one-half ounce, quarter-ounce and one-tenth ounce sizes.
Early Maple Leaf bullion coins were minted at .999 purity, but in 1982 the Royal Canadian Mint went to the .9999 pure gold coin -- the standard to which it produces coins today. Each coin bears the .9999 purity stamp along with the date, the weight and the face value. The Canadian Maple Leaf is a legal tender gold coin -- a status that allows it to be used as currency and in debt settlements. The earlier issues with the .999 stamp trade at a discount to the later mintages.
The Maple Leaf gold coins were a major beneficiary of the credit and financial crisis which began in 2008. That year the Royal Canadian Mint reported an unprecedented jump in bullion coin sales -- from 278,600 ounces in 2007 to 896,000 in 2008. Whereas the other national mints had trouble keeping up with demand, the Winnipeg mint seemed much better equipped to deal with the onslaught, and Maple Leaf availability remained steady throughout the 2007-2009 period.
Quality service for nearly four decades
An industry leader
Founded in the 1970s, USAGOLD is one of the oldest and most respected names in the gold industry. The firm's unblemished (zero complaints) record with the Better Business Bureau testifies to the exceptional customer service and professional excellence which sets it apart from the competition. In addition, the firm ranks as an industry leader in gold-based research and analysis -- an expertise we share with our clientele on a daily basis. The USAGOLD website stands as a prime example of our commitment to keeping the public informed.
We specialize in long-term wealth preservation
Your choice of a gold firm can mean the difference between success and failure as a gold owner. Choose the right firm and it will help you stay the course on protecting your assets from economic uncertainties. Choose the wrong firm and you can be easily diverted to an assortment of related, but derivative investments -- more in the realm of speculation than a true store of value. High-end numismatics, leveraged precious metals accounts, graded (slabbed) contemporary bullion coins, off-brand bullion bars and jewelry items, gold stocks, precious metals futures contracts and options or exchange traded funds -- all have a gold component as part of their profile. None however can serve as adequate substitute for outright gold ownership in the form of gold coins and bullion. Do not allow yourself to be diverted from the course you set for yourself.
(Note: USAGOLD has been awarded the Better Business Bureau's Gold Star Certificate, its highest accolade. In addition, the firm has been rated A+ by the BBB with zero consumer complaints. The firm has been accredited since 1991. Please see our BBB profile.)
Gold ownership + USAGOLD = Peace of mind
USAGOLD specializes in gold coins and bullion delivered to your safekeeping. Richard Russell, the highly respected editor of Dow Theory Letters, said it best: "I still sleep better at night knowing that I hold some gold. If or when everything else falls apart, gold will still be unquestioned wealth." For 38 years, we have resolutely advocated owning gold for asset preservation purposes.
Admittedly, this philosophy does not resonate with all prospective gold owners, but if it does with you, we think you will find our firm a kindred spirit. When it comes time to pursue your first (or next) purchase, we invite you to learn first-hand why so many have chosen USAGOLD as their precious metals firm.
Thank you note from a new client:
I received my first-ever purchase of gold from USAGOLD on Friday.
You know, it's a really weird experience buying gold for the first time. I found your website after following a rabbit hole of articles, essays and other commentary about the world's current economic affairs.
Needless to say, it wasn't a hard sell—I just needed some guidance and (and perspective). Nevertheless, calling some guy out in Denver to talk about several grand worth of shiny gold coins is a little nerve racking.
Am I doing the right thing? Am I asking the right questions? Will I get my coins or get taken?
Well, I'm convinced now more than ever I made the right decision. You answered all of my questions with grace and patience. And you helped me ultimately decide what to get. After a simple wire transfer at my bank, and a confirmation from your shipping department, my shipment arrived ahead of schedule. Just as I had hoped, a discrete package arrived with sovereigns and francs neatly packaged with a receipt.
It really worked!
Not only that, but then you sent me a book and a personal letter of gratitude the next week. Dude, you rock. Thank you so much for your attention and real-life approach to client service.
Your shipping department answered all my questions as well. I was able to track the shipment all the way across the finish line. It's nice to know somebody makes sure all goes smoothly.
Not sure if I can afford gold next month ;) But if we avert a crisis, I'll be buying from you for many years to come.
Props to you both!
AT
Some initial guidelines from one of America's top gold experts
Question. What kind of gold should I buy?
Answer. We probably get that question more than any other -- pretty much on a daily basis. The answer, however, is not as straightforward as you might think. What you buy depends upon your goals. We usually answer the "What should I buy?" question with one of our own: "Why are you interested in buying gold?" If your goal is simply to hedge financial uncertainty and/or capitalize on price movement, then contemporary bullion coins will serve your purposes. Those concerned with the possibility of capital controls and a gold seizure, or call-in, often include historic pre-1933 gold coins in their planning. Both the contemporary bullion coins and historic gold coins trade at modest premiums over their gold melt value, track the gold price, and enjoy strong liquidity internationally.
Q. When should I buy?
A. The short answer is 'When you need it.' Gold, first and foremost, is wealth insurance. You cannot approach it the way you approach stock or real estate investments. Timing is not the real issue. The first question you need to ask yourself is whether or not you believe you need to own gold. If you answer that question in the affirmative, there is no point in delaying your actual purchase, or waiting for a more favorable price which may or may not appear. Cost averaging can be a good strategy. The real goal is to diversify so that your overall wealth is not compromised by economic dangers and uncertainties like the kind generated by the 2008 financial crisis, or those now unfolding in Europe and Japan.
Q. Why not wait for the necessity to arise, then buy gold?
A. Over the past few years, as concern about a financial and economic breakdown spread, there were periods of gold coin bottlenecks and actual shortages. In 2008-2009 at the height of the financial crisis, demand was so great that the national mints could not keep up with it. The flow of historic gold coins from Europe was also insufficient to meet accelerating demand both there and in the United States. Premiums shot-up on all gold coins and a scramble developed for what was available. There is an old saying that the best time to buy gold is when everything is quiet. I would underline that sentiment.
Q. Can you give us a profile of the typical gold investor?
A. Gold owners are a group of people I have come to know very well in my 40 years in the business. Contrary to the less than flattering picture sometimes painted by the mainstream press, the people we have helped become gold owners are among those we rely upon most in our daily lives -- our physicians and dentists, nurses and teachers, plumbers, carpenters and building contractors, business owners, attorneys, engineers and university professors (to name a few.) In other words, gold ownership is pretty much a Main Street endeavor. A recent Gallup poll found that 34% of American investors rated gold the best investment "regardless of gender, age, income or party ID. . ." In that survey, gold was rated higher than stocks, bonds, real estate and bank savings.
Q. What about high net worth investors?
A. Traditionally, wealthy, aristocratic European and Asian families have kept a strong percentage of their assets in gold as a protective factor. The long term economic picture for the United States has changed enormously over the past several years. As a result, that same philosophy has taken hold here particularly among those interested in preserving their wealth both for themselves and for their families from one generation to the next. In recent years, we have helped a good many family trusts diversify with gold coins and bullion at the advice of their portfolio managers.
(Please see: Seven Reasons Why High Net Worth Investors Choose USAGOLD)
Q. You frequently mention gold as insurance. What do you mean by that?
A. Gold's baseline, essential quality is its role as the only primary asset that is not someone else's liability. That separates gold from the majority of capital assets which in fact do rely on another's ability to pay, like bonds and bank savings, or the performance of the management, or some other delimiting factor, as is the case with stocks. The first chapter of the ABCs of Gold Investing ends with this: "No matter what happens in this country, with the dollar, with the stock and bond markets, the gold owner will find a friend in the yellow metal -- something to rely upon when the chips are down. In gold, investors will find a vehicle to protect their wealth. Gold is bedrock."
Q. What percentage of my assets should I invest in gold?
A. Once again the answer is not cut and dry, but a general rule of thumb is 10% to 30%. How high you go between 10% and 30% depends upon how concerned you are about the current economic, financial and political situation. Recently, CNBC television commentator Jim Cramer strongly advocated a 20% gold diversification.
Q. In your book, you state: "Who you do business with is one of the most important aspects of gold investing." Why is that?
A. A solid, professional gold firm can go a long way in helping the investor shortcut the learning curve. A good gold firm can help you avoid some the problems and pitfalls encountered along the way, and provide some direction. It can help you in the beginning and through the course of your gold ownership both in making additions to your portfolio and liquidations.
Q. How can the average investor distinguish between the good gold firms and the bad?
A. First, and most important: Check the Better Business Bureau's profile on a company before you do business with it. Check not only its rating but the number of complaints lodged against it and how those complaints were handled. A consistent record of complaints can be a warning sign even if the company has managed to keep an A+ rating. This is a simple and straightforward step every first-time investor should take, but it is amazing how many ignore it. Second, choose a gold firm that has a solid track record. Ten years in business is good; fifteen years or more is even better. Third,choose a firm with a commitment to keeping you informed, i.e., one that is interested in answering your questions now and keeping you informed in the future. If a sales person gives you short shrift or hits you with a heavy sales pitch take it as a warning.
(Note: USAGOLD has been awarded the Better Business Bureau's Gold Star Certificate, its highest accolade. In addition, the firm has been rated A+ by the BBB with zero consumer complaints. The firm has been accredited since 1991.)
Q. Can you briefly describe what you believe to be the biggest mistake investors make when starting out as gold owners?
Answer. The biggest trap investors fall into is buying a gold investment that bears little or no relationship to his or her objectives. Take safe-haven investors for example. That group makes up 90% of our clientele, and probably a good 75% of the current physical gold market. Most often the safe-haven investor simply wants to add gold coins to his or her portfolio mix, but too often this same investor ends up instead with a leveraged (financed) gold position, or a handful of exotic rare coins, or a position in an ETF that amounts to little more than a bet on the gold price. These have little to do with safe-haven investing, and most investors would be well served to avoid them.
Q. What about the high profile gold companies that advertise on talk radio and cable television?
A. The same vetting rules outlined earlier apply. Check them out. Too often investors make the mistake of believing that the gold firm that sponsors their favorite political commentator is also the best place to make their gold purchases. National media campaigns are expensive and those costs are usually covered in the prices paid by investors for their gold coins. In some instances that mark-up can be twice the gold value. Take care that you are not paying too much for your gold and that you are buying the gold items best suited to meeting your goals.
Q. What is your view of gold stocks?
Answer. Many of our clients own gold stocks and we believe they have a place in the portfolio. However, it should be emphasized that gold stocks are not a substitute for real gold ownership, that is, in its physical form as coins and bars. Instead, stocks should be viewed as an addition to the portfolio after one has truly diversified with gold coins and bullion. Gold stocks can actually act opposite the intent of the investor, as some justifiably disgruntled mine company shareholders learned in the recent past when their stocks failed to perform as the price rose. There is no such ambiguity involved in actual ownership of gold coins and bullion. When gold rises, they rise with it.
Q. What about gold futures contracts?
Answer. Futures contracts are generally considered one of the most speculative arenas in the investment marketplace. The investor's exposure to the market is leveraged and the moves both up and down are greatly exaggerated. Something like 9 out of 10 investors who enter the futures market come away losers. For someone looking to hedge his or her portfolio against economic and financial risk, this is a poor substitute for owning the metal itself.
Q. What about ETFs?
A. Since, for one reason or another, it is difficult to take delivery from any of the ETFs, they are generally viewed as a price bet and not actual ownership of the metal. Most gold investors want possession of their gold because they are buying as a hedge against an economic, financial or pollical disaster. When disaster strikes, it does not do you much good to have your gold stored in some distant facility by a third party. For this reason, over the past couple of years the trend even with hedge fund operators has been away from the ETFs. In 2011, ETF sales plummeted while purchases of physical coins and bullion for delivery skyrocketed.
Q. Please summarize -- What is the best approach for the safe-haven investor?
Answer. If you want to protect yourself against inflation, deflation, stock market weakness and potential currency problems -- in other words, if you want to hedge financial uncertainties, there is only one portfolio item that will serve you in all seasons and under most circumstances -- gold coins and bullion. Make sure you do your homework on the company with which you choose to do business, and make sure that the gold ownership vehicle you choose truly reflects your goals and aspirations.
Though this interview will help you start safely on the road to gold ownership, it is just an overview. If you would like more detailed information, I would recommend my book, The ABCs of Gold Investing: How to Protect and Build Your Wealth With Gold, which covers the who, what, when, where, why and how of gold ownership in detail. You can also shortcut the learning curve by contacting our offices and asking to speak with one of our expert client advisors who will be happy to answer your questions and help you get off to a solid start.
United States Eagle Gold
United States Eagle
Fineness: .916
Actual Gold Content: 1.0 troy ounce (31.103 grams)
Diameter: 32.7 mm
Face value: $50
(also minted in 1/2, 1/4, 1/10 ounce sizes)
Please note: We encourage you to compare our prices to those of firms with
high profile national media campaigns. Volume discounts available.
The U.S. (also American) Eagle gold bullion coin is the most popular among investors in the United States. Over 13 million of the one-ounce coin have been minted and distributed since the coin was introduced in 1986. In 2009 alone, 1,493,000 American gold eagles were produced. In 2008, at the height of the credit-financial crisis, the mint was forced to go to an allocation system because it could not keep up with burgeoning demand. Still, it produced 710,000 one-ounce coins during the course of the year. By way of comparison, the U.S. Mint produced a little over 140,000 one-ounce coins during the relatively quiet year of 2007.
The 1986 American Eagle began life as an idea presented by Congressman Ron Paul to President Ronald Reagan's Gold Commission in 1981. Congress enacted the "Gold Bullion Act of 1985" and quickly thereafter the Eagle became one of the most popular gold coins in the world. The Gold Bullion Act stipulates that the gold used for producing American Eagles comes from newly mined sources within the United States.
The obverse depicts lady liberty striding from the coin -- a reproduction of Augustus St. Gaudens' famous design for the Double Eagle commissioned by President Theodore Roosevelt in the early 20th century. The reverse displays a family of gold eagles with the male carrying an olive branch and flying above the nest, the fine gold weight of the coin and its face value.
American eagles are legal tender coins minted in one-ounce, half-ounce, quarter-ounce and tenth-ounce sizes. Produced at the West Point Mint, it is an alloyed coin at 22 karats, or .916 fine. The 1986 to 1991 mintages have Roman numeral dates. Arabic numeral dates are used on successive mintages.
The Physical Gold IRA
Why gold makes sense in your retirement plan
As the ultimate long-term store of value, gold coins and bullion may very well be the ultimate retirement asset. Among the primary asset classes most often used in retirement planning -- stocks, bonds annuities and savings accounts -- gold stands out as the only one that does not rely on the performance of another individual or institution for value. This quality makes gold an ideal way to save for retirement for the times.
Former French president Charles DeGaulle once famously said of gold, it 'has no nationality and is eternally and universally accepted as the unalterable fiduciary value par excellence'. What better way to save for retirement than with the ultimate savings vehicle -- physical gold. We invite you to establish your gold retirement plan through USAGOLD.
How to set up your USAGOLD precioius metals' retirement account
The first step is to set up a self-directed account with our specially selected trust company (trustee). In a self-directed account, you decide which investments to make, and then direct the trust company to execute the transaction[s]. When you contact us, we will forward the proper paperwork by e-mail to open your trust account. Once you establish the account, you fund it with contributions or a rollover. The final step is for you to instruct the trust company to fund the purchase of precious metals from USAGOLD on your behalf. USAGOLD then deposits the metals directly into your account. The metals are stored fully insured at a well-known depository.
Approved precious metals products
Under the Internal Revenue Code, there are specific precious metals products allowed. The purity standard for gold is .999 pure, or 99.9 percent; for silver, .995 or 99.5 per cent pure; for platinum and palladium, .9995 or 99.95 percent pure. The one exception to the purity rule is the American Eagle gold coinage which is .916 net fine. These standards narrow the range of choices. You can purchase bullion bars or bullion coins for your plan. Bars must be manufactured by exchange-approved refiners.
Below is a list of allowable bullion coins:
Approved gold bullion coins include the U.S. Eagle, the U.S. Buffalo, the Canadian Maple Leaf, the Australian Kangaroo and the Austrian Philharmonic. These come in various sizes ranging from one troy ounce to one-tenth troy ounce.
Approved silver bullion coins include the U.S. Eagle, the Canadian Maple Leaf, Austrian Philharmonic and Mexican Libertad.
Approved platinum coins include the U.S. Eagle, the Canadian Maple Leaf, the Australian Koala and the Australian Platypus. There is only one approved palladium coin -- the Canadian Maple Leaf.
Proof American Eagles are also allowed but are not advisable in a precious metals’ IRA due to vast premium disparities based on different interpretations of numismatic value. The best course of action is to stick with products from the above list that trade at lower premiums.
Transfers and Rollovers
Transferring a traditional or Roth IRA to a gold backed IRA is relatively simple. Alternatively, the term “rollover” actually refers to the rolling over of assets from a 401 (k) plan or some other qualified retirement plan to a self-directed IRA. In these cases, an employee must usually be separated from employment in order to establish a rollover.
Including precious metals in your retirement plan is a good idea, but make sure you approach the task under the guidance of a gold firm that has a good reputation and solid experience in this area. Generally speaking, the guidelines that apply to precious metals ownership outside your IRA also apply to owning the precious metals inside your IRA.
As the ultimate long-term store of value, gold coins and bullion may very well be the ultimate retirement asset. Among the primary asset classes most often used in retirement planning -- stocks, bonds annuities and savings accounts -- gold stands out as the only one that does not rely on the performance of another individual or institution for value. This quality makes gold an ideal way to save for retirement for the times.
Former French president Charles DeGaulle once famously said of gold, it 'has no nationality and is eternally and universally accepted as the unalterable fiduciary value par excellence'. What better way to save for retirement than with the ultimate savings vehicle -- physical gold. We invite you to establish your gold retirement plan through USAGOLD.
How to set up your USAGOLD precioius metals' retirement account
The first step is to set up a self-directed account with our specially selected trust company (trustee). In a self-directed account, you decide which investments to make, and then direct the trust company to execute the transaction[s]. When you contact us, we will forward the proper paperwork by e-mail to open your trust account. Once you establish the account, you fund it with contributions or a rollover. The final step is for you to instruct the trust company to fund the purchase of precious metals from USAGOLD on your behalf. USAGOLD then deposits the metals directly into your account. The metals are stored fully insured at a well-known depository.
Approved precious metals products
Under the Internal Revenue Code, there are specific precious metals products allowed. The purity standard for gold is .999 pure, or 99.9 percent; for silver, .995 or 99.5 per cent pure; for platinum and palladium, .9995 or 99.95 percent pure. The one exception to the purity rule is the American Eagle gold coinage which is .916 net fine. These standards narrow the range of choices. You can purchase bullion bars or bullion coins for your plan. Bars must be manufactured by exchange-approved refiners.
Below is a list of allowable bullion coins:
Approved gold bullion coins include the U.S. Eagle, the U.S. Buffalo, the Canadian Maple Leaf, the Australian Kangaroo and the Austrian Philharmonic. These come in various sizes ranging from one troy ounce to one-tenth troy ounce.
Approved silver bullion coins include the U.S. Eagle, the Canadian Maple Leaf, Austrian Philharmonic and Mexican Libertad.
Approved platinum coins include the U.S. Eagle, the Canadian Maple Leaf, the Australian Koala and the Australian Platypus. There is only one approved palladium coin -- the Canadian Maple Leaf.
Proof American Eagles are also allowed but are not advisable in a precious metals’ IRA due to vast premium disparities based on different interpretations of numismatic value. The best course of action is to stick with products from the above list that trade at lower premiums.
Transfers and Rollovers
Transferring a traditional or Roth IRA to a gold backed IRA is relatively simple. Alternatively, the term “rollover” actually refers to the rolling over of assets from a 401 (k) plan or some other qualified retirement plan to a self-directed IRA. In these cases, an employee must usually be separated from employment in order to establish a rollover.
Including precious metals in your retirement plan is a good idea, but make sure you approach the task under the guidance of a gold firm that has a good reputation and solid experience in this area. Generally speaking, the guidelines that apply to precious metals ownership outside your IRA also apply to owning the precious metals inside your IRA.
Gold Firms Ahead of Central Bank Meetings
Gold begins the week on pretty firm footing, having retraced much of Friday's intraday retreat. The dominant story in the market continues to be the strong physical demand for gold that emerged as a result of the mid-month sell-off in the paper market.
A weaker dollar is helping to underpin the gold market. The greenback has been pressured by a stronger euro after Italy successfully formed a new government over the weekend. The ECB meets this week and a recent worsening of the economic data have increased the likelihood of a 25bp rate cut.
The Bank of Japan said reiterated its plan on Friday to "conduct money market operations so that the monetary base will increase at an annual pace of about 60-70 trillion yen." However, the market seems to have been hoping for more than the already stated plan to double the monetary base in two-years. The yen rallied, leaving the important 100.00 level against the dollar well protected.
The Fed also meets this week and will announce policy on Wednesday. With the economy continuing to languish, the FOMC is widely expected to hold rates steady near 0% and continue buying $85 bln a month in assets. In light of the recent soft data and hints of deflationary pressures, talk of phased withdrawals of accommodations has diminished in recent weeks.
Mobile Gold Coin Prices
Due to high demand premiums on all gold coins are quickly changing. Pricing is an indication only. Please call to confirm prices.
| Prices at close on April 26, 2013 | Spot gold price: $1,463.90 | Spot silver price: $24.14 |
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| Austrian Philharmonic | United States Eagle | Canadian Maple Leaf | So. African Krugerrand | American Buffalo | Australian Kangaroo |
| Click on image for full photo + specifications |
Closing gold bullion coin prices
(one ounce)
Closing gold bullion bar prices
We encourage you to compare our prices to those of firms with high profile national media campaigns.
Volume discounts available. Please call.
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| Live gold coin prices (one ounce) 1:14 pm Mon. April 29, 2013
Current gold spot price
$1469.2
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| Gold Trading HoursLondon • New York • Sydney • Hong Kong • Zurich |
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