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Archive for October, 2010
Cash for gold scam hits England
By admin October 28th, 2010
A new type of cash for gold scam has emerged in the Northolt, England. The scammers knock on doors and offer to pay people cash for broken, scrap and unwanted Gold. They claim to pay the best prices, but will not pay what the items are truly worth. These con artists are very persuasive and can get way with what they want and wont leave their victims with even a small idea that they have been robbed in broad daylight.
Having gained entry into the victims house, the offenders will use distraction techniques to steal items without the occupier’s knowledge. Alternatively, if the items are too big, the criminals will return at a later date to steal them.
If the occupier is not home then the con artists will leave a leaflet stating that jewelery, watches, artwork, old coins, carvings, military items or antiques will be bought with no questions asked and give a contact number to make an appointment at a later date.
The description of the main suspect working in Northolt is a white man, slim build, approximate age 40-50 years, with light colored receding hair.
Tags: artists, cash, con, england, gold, scam
Posted in Gold Education, Uncategorized | No Comments »
Gold is expensive. Think again!
By admin October 27th, 2010
Mints are having a lot of difficulty filling orders when the Greek crisis broke. And yes, the gold price is up nine years in a row.
But those who look at statistics like these are missing the other side of the equation. Its more about what’s available to invest than about how much money has already been invested in gold.
After all,everyone is impressed that China has invested heavily in gold in the last decade to the tune of some $15.6 billion– but do you realize that they still have 14.5 trillion in their reserves.
So, how much is invested in gold, and how much is available?
According to Paulson & Co, if you add up all the money invested in gold ETF, it would total around $79 billion. While the total money sitting in the The amount of money currently sitting in U.S. money market funds, comes to $2.849 trillion. In other words gold ETF’s 2.7% of what is available in cash.
Put it this way, if just 5% of available money market funds ($142.4 billion) were to move into the gold ETFs, it would almost triple the current value.
Tags: gold, investment, price
Posted in Gold Education | No Comments »
Gold sales decline
By admin October 20th, 2010
Following several months of strong performance of the United States Mint’s numismatic gold products showed a small decline in every category , including the 2010 Proof Gold Eagles, 2010 Proof Gold Buffalo, and available First Spouse Gold Coins.
A drop off in the sales was expected for the 2010 Proof Gold Eagles, which debuted a short while back. Newly released US Mint products tend to have their highest sales performance during the opening days, then the pace of sales declines, often sharply, until a base level of weekly demand emerges. During the current period, customers ordered 5,215 (1 ounce), 706 (1/2 ounce), 669 (1/4 ounce), 1,593 (1/10 ounce), and 2,840 (4 Coin Sets). The largest drop off in sales compared to the prior week occurred for the 1/10 ounce individual option. On an overall basis, the number of ounces worth of 2010 Proof Gold Eagles sold by the Mint was 11,148 this week, compared to 29,678 for the last report.
The 2010 Proof Gold Buffalo recorded sales of 944 to bring total sales to 37,218. This is the first time weekly sales came in below the 1,000 level since September 12.
However, there was an unusual increase in sales for the uncirculated version of the Margaret Taylor First Spouse Gold coin, which sold 208 for the week.
Posted in Gold Education | No Comments »
Beware of bad bullion dealers: It may be a scam
By admin October 19th, 2010
Three nonprofit organizations involved with gold coins are offering suggestions to investors and collectors who did not receive merchandise ordered from gold sellers, received merchandise that were not as described when they ordered it or didn’t receive payment for gold they submitted to sell.
In a recent case, “Howard” in Mississippi wired $20,000 several months ago to a California coin and bullion dealer to purchase gold coins. With the recent run-up in bullion prices he would have made a nice profit, except that he still has not received any gold from the dealer. Howard says, “All I’ve gotten is the run-around.”
“If you don’t know gold coins, you’d better know your gold coin dealer,” is the advice to collectors and investors from three nonprofit organizations websites: www.money.org, www.ictaonline.org and www.pngdealers.com.
There are many reputable and professional numismatists in the country. Before you make a purchase or sell, do your homework and check the dealer’s credentials.
A listof Better Business Bureau accredited and rated companies nationwide can be found online at www.bbb.org.
Tags: bullion, dealers, gold, scam
Posted in Gold Education, Gold Parties, Uncategorized | No Comments »
Repair your broken jewelry on your own
By admin October 11th, 2010
Soldering is a way to connect metal object using heat and solder. Using the metal, particles move apart and tiny spaces are made. The solder then moves into these spaces and connects the broken metal pieces.
Soldering is a great way to fix your broken jewelry provided you are careful while soldering. It requires great precision. You can use a variety of solders available to fix your jewelry. Silver is the most common one used. It is used to solder gold and copper.
There are variety of solders available depending on the hardness required. Hard, soft and medium are used commonly used by silversmiths.
Soldering your jewelry can recover your precious jewelry or can ruin it if you are not careful enough, so be careful when soldering your jewelry. So practice first on other broken objects before trying it out on your precious jewelry.
Tags: fix, gold, jewelry, repair, silver, soldering
Posted in Gold Education | No Comments »
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