Month: April 2015

Pre-1933 Gold Premiums At Multi-Year Low

Pre-1933 gold premiums are quite low, leading many to wish to purchase.

The following chart uses an annual premium taken in January of each year, with the high and low premium taken from that 13 year span.

Uncertified Gold – 13 Year Average price vs. Current with historical Hi/Low

33GoldChart

You can see that, by historical standards, pre-1933 uncertified gold stands is relatively cheap. The $10 Liberty offers a inexpensive price when compared to past prices, while $20 Liberty Gold and $20 Saint Gaudens are much lower in price than they have been. By historical standards, these premiums are at a near all-time low.

“In my opinion, we’re at the genesis of a new way of looking at rare coins—from an investment perspective instead of a collecting perspective,” said Timothy O’Fallon, senior numismatist with Gibraltar Coins.

“A lot of people have invested in gold and silver bullion, which has introduced them to coins,” O’Fallon said.

“And now many are looking for an opportunity to diversify into alternative investments,” he said. “If a tiny percentage of these investors move to this category, it will drive demand and value up significantly.”

Please check out GoldSilverBitcoin’s stock of Pre-1933 gold coins here.

People’s Bank Of China Buys Gold While Americans Buy Art & Real Estate

The People’s Bank of China has tripled its gold stockpile since 2009, according to the Bloomberg Intelligence report, while, in the meantime, sales of previously owned US homes increased in March to the highest mark since September 2013, according to the National Association of Realtors. The BlackRock CEO has called art and real estate a better store of value than gold. Who is right?

Bloomberg Intelligence estimates the nation’s gold stockpile to be 3,510 metric tonnes, second to the US’s 8,133.5 tonnes. Read More

Texas Bill to Establish Bullion Depository, Make Gold and Silver Money Once More

Texans could soon be allowed to pay with gold and silver coins minted by the federal government for taxes and other government services – namely, the American Silver Eagle and the American Gold Eagle – thanks to a bill proposed by Sen. Konni Burton, R-Colleyville.

Burton argues the option to pay in gold and silver for government services has caught on as the dollar’s purchasing power declines. Read More

The Future Of Mining With Robots

Robotic mining has been in the news in recent months. While this technology is geared towards mining numerous types of resources, it will have considerable implications for precious metals, as well.  It could have implications for mining on land, underwater as well as in space.

On land, Timetric’s Mining Intelligence Centre (MIC) estimates that 48% of miners across both Europe and the Former Soviet Union (FSU) plan to make use of autonomous vehicles by 2020. Read More

PayPal Merchants Now Accept Bitcoin

An SEC filing April 10. 2015 by PayPal hints its merchants can accept Bitcoin. The filing reads:

A merchant can typically open a standard PayPal account and begin accepting payments through PayPal within a few minutes. Most online or mobile merchants can onboard quickly and are not required to invest in new or specialized hardware. Our Payments Platform supports growth with a variety of value-added services designed to help businesses of all sizes manage their cash flow, invoice clients, pay bills, and reduce the need for merchants to receive and store sensitive customer financial information. For our standard service, we do not charge merchants setup or recurring fees. A merchant can also integrate with Braintree to begin accepting payments with credit or debit cards, PayPal, Venmo, digital currencies such as Bitcoin, or other payment solutions with a single integration.

Last September  PayPal started accepting Bitcoin through Braintree, also partnering with Coinbase, BitPay and GoCoin. 




“PayPal is playing the role of the intermediary, but the cost will be left up to the merchant and the payment processor,” said Scott Ellison, PayPal’s senior director of competitive intelligence and corporate strategy.

In 2014,  PayPal told the Australian Senate:

“While the currency itself should not be regulated, and transactions by individual users without the assistance of the intermediaries should not be regulated, companies that provide a financial service for digital currency transmission, for issuance or sale of digital currency, or for exchange with other currencies such as the Australian Dollar, should be regulated in a manner similar to the existing regulations that apply to other payment services… Those regulations, however, should be adapted to recognize the specific details of how different digital currencies work, particularly ‘decentralized’ digital currencies that are not controlled by a specific issuer.”