A few items which may be of interest to you before I get into other things, maybe Monday. The ’destruction of America’ series will continue, as I think of other disasters, of which there are plenty, but other things must be said as well, so here goes.
The U.S. Mint has ceased production of the 2007 Gold Eagles, so the prices may creep up till Jan 1st, when the 2008’s will be released. Law prohibits releasing 2008 coins till 2008 arrives. Krugerrands are becoming ever so much harder to find, as so many thousands, if not millions of people have realized that in 100% of the time, all un-backed paper currencies have self destructed to zero. I have had three record weeks, because of people getting out of stocks, and bank accounts. I know this will continue, so my son Dave will probably be in business the day after Thanksgiving. The web site will have two phone numbers instead of one. Same prices, and same service. The Krugs I have been getting, are usually in the 1970’s and 1980’s years, and that’s OK, because they are the cheapest way to own a one ounce gold coin. Are there new Krugerrands? Yes, but if they were imported, and they aren’t yet, they would cost the same as a Gold Eagle, and the Gold Eagles are far prettier. When the old Krugerrands have all been bought up, and people are buying Gold Eagles, I would assume that if you sold your Krugs, you would get a much higher price, because they would be ’bid’ at the same price as a Gold Eagle. That’s supposition on my part only.
Speaking of one ounce coins, I know that everyone seems to want one ounce per coin, but since Krugerrands have crept up and are far higher than spot than they used to be, consider the one ounce Credit Suisse 1 ounce gold bar, which now is about $10 cheaper than Krugerrands. Each one is flat, has serial numbers, and is wrapped in plastic. As I write this, due to the shortage of Krugerrands, the Credit Suisse is right where the Krugerrand used to be and that is $7 above spot or thereabouts, while the Krug has gotten out of hand and is now about $19 over spot. In the past, when the masses weren’t into gold and silver, I have seen Krugs at $2 over spot.
When you get your little sales slip from me or soon from Dave, the abbreviations are simple, but you might not understand them. We abbreviate to save time. AU is for gold, and AG is for silver, the correct signs for them. So if you bought ten ounce silver bars, it will read “10AG” which means ten ounce silver bar. “AUE” means Gold Eagles, “ML” is for Maple Leafs, and “SAK” for South African Krugerrands. “CS” is Credit Suisse, “AGR” is silver rounds, and “AGE” is for Silver Eagles. PT is platinum and PA is Palladium. So “PAML” would be Palladium Maple Leafs, and “PTE” Platinum Eagles, etc. Sorry I have never explained this before. Also under the sub total, of course, is the commission such as “1.5%” or 1% if the deal is over $35,000. or .75% if it is over $100,000.
About once a year or maybe even twice, out of the thousands of deals I do, a new person will say, “How do I know I will get my gold and silver?” My answer is simple. There are risks in everything. From marriage, buying a car, or ordering through the mails. When someone orders from me or Dave, there are two trusts involved, not just one. We go out and buy the items in our name for you, and trust that you will pay for them. If you don’t, we are stuck, because we purchased them, not in your name, but ours. We therefore trust you, or we wouldn’t have taken the order. We are not a coin shop, but brokers, and we don’t take your order out of our showcase! We buy for you, just like you buy from us, and there is trust on all sides. When you get a trade number, that is the trade number issued to us by A-Mark, our supplier. (You might notice that our web site’s prices are lower than A-Mark’s. We are A-Mark dealers, and we get lower prices.) That means the price is locked in, no matter what happens an hour later, or the next day. We bought it at the price that existed when you ordered, and you must pay as you agreed to when you ordered. Also, I will soon be 74, and if you think I’d ruin my reputation for your deal, you are dead wrong. When one has been as honest as I have been, and taught my son to be, you won’t find any family any more trustworthy. If you don’t want to order from us and allow us to trust you and you to trust us, go to a coin shop and get ripped off with high prices! At least you will get the stuff readily. Might as well stop ordering through the mails too, and stop buying from E-Bay also, because there is trust there also, and I have heard horror stories about them. No one has ever lost a dime through me.
As far as “bags” are concerned, a client of mine said that when the going gets rough, he might open his bags and sell the individual coins at a huge profit. Not bad Murph. Also, even though I hate bags because they are so heavy and bulky, eventually they may all be gone (none been made since 1964) and will command a very high price, if for no other reason than the coins can be sold individually as silver. Who knows? I do firmly believe that the credit crunch is far from over, and difficult times are ahead. As more and more of the population catches on to the utter fraud and deceit of the D.C. Gang and their paper scrip, they will want to get out of the dollar denomination, and into something tangible. Why gold and silver? because they have been real money for thousands of years in all civilizations, and unlike paper tokens, scrip and currency, they can’t go to zero. Nothing tangible can go to zero. Only fluff and pieces of paper with ink on them can go to zero.
Foreign currencies? Sure, if you want to go from one scrip to another. Why go from McDonalds to Burger King, when you can afford a fine restaurant? Why trust another government’s promises over your own? They are all hacks, and lust for re-election to those high offices with all that prestige. They all get elected by shallow promises to re-distribute the public treasury contents to likely voters, and in America, especially Democrats and Republicans do this. Ever think about what America might be now if Ross Perot, George Wallace, Pat Buchanan, or Barry Goldwater had been elected? Imagine what America would be like if Ron Paul should get elected! I think I’ll send him another $100. Have a great weekend!