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Ways to own Gold

Should I own Gold coins or bars? Coins can be tricky if you engage in the numismatic coin trade which has less to do with the buying, holding, and trading the commodity, and more to do with the rarity of the coins. My opinion is if you can get a vintage coin close to the spot price of Gold then fine, but if not, then you need to remember that you are buying a coin filled with commissions paid to the broker. Remember you are buying precious metals because you feel the dollar’s value is diminishing and you are looking for a hedge against inflation. So don’t detract from your goals when looking at metals as an investment. Now as far as regular bullion coins and bars, I don’t feel there is any difference to be honest, at the end of the day Gold is Gold right? The only leverage legal tender coins can give you is that there is a market for particular coins and some people have a preference as to what type of coins they own as opposed to bars or generic Gold coins. Personally, I feel that if Gold goes to the levels authors such as James Turk says Gold is going to, then I don’t feel that anyone will be turning your gold away. Now there are large institutions that will sell you Gold Such as Monex, Gold Line, Merit Financial, and North West Territorial Mint. The only issues I can find with these larger institutions is there lack of ability to negotiate a fair price with there customers, and then when times get really busy they are not prepared to handle large scale volume. Such complaints have been posted as in the website monexfraud.com. Although I have never know Monex to commit fraud personally, there is a sense that they post there ads to get you in the door to buy Gold and then bait and switch you into their Atlas Trading account which uses leverage as a means to over obligate the consumer into paying interest on an over leveraged account. This was not the intention of the buyer in the first place which is why I don’t like their method of advertising. Now my feeling is that if you want to trade the commodities there are other tools to use other than a leveraged account (which is not bad if that is what you want to do), but the issue is weather or not everyone getting into the Monex Atlas accounts really know what they are getting into. If you want to trade, then trade, but if you just want to buy and hold then that should be your game. Now concerning the other dealers I mentioned, they are fine I suppose, but try getting through to Northwest Territorial Mint when it is really busy, or call Gold line without having them try to sell you rare coins instead of bullion! Remember your spreads and the commissions you pay. Now there are other ways that people buy Gold such as by using Exchange Traded Funds Gold can carry concerns about authenticity and purity, as well as storage and insurance costs. But you can shed those worries and still own a chunk of gold by investing in exchange-traded funds that make buying and selling gold bullion as easy as buying and selling stocks.

The share price of street TRACKS Gold Shares roughly tracks the price of gold and represents an investment in gold bullion. In effect you get to own gold without the hassle of storing and insuring. “With GLD, each share is priced at about one-tenth the price of gold bullion. If gold goes to $1000 an ounce, then the price of a share should be about $100,”

There are fees associated with exchange-traded funds, but they’re usually low. In addition, expect to pay a commission to your broker for each trade. But remember some very important features of the ETF derivatives and are not redeemable in Gold you have to take, ask yourself the question, if the dollar crashes do you want the US Dollar, or would you want the Gold? Also, the questions has been raised if the Comex really has the Gold on hand that GLD trades, and the fact is that GLD doesn’t carry all the Gold they are supposed they only hold about 25% of the Gold they are supposed to have on hand, the rest is most Gold paper certificates. Owning Gold this way is not Gold ownership, but if you don’t care and are only here to trade the volatility of the market then it doesn’t really matter then does it? Owning Mutual Funds, ETF’s and Gold mines is not Gold ownership, you own Gold to hedge against risk. Gold Stocks got hammered when the stock market crashed last Oct, while Gold held it’s own against all the asset classes. It is really the difference between diamonds being worth more then the ring it sits on. Mining stocks reflect the profits of the company. If it costs the company $600 an ounce to dig up gold, pay employees, gas and the like, and gold is selling at $900, their profit is $300. If the price of gold rises to $1200 their profits have doubled, so the stock is more volatile. But it works the other way, too. A drop in the price of gold could flip flop a company from one that’s profitable to one that’s bleeding. So this is a play on Stocks and not the metal itself. I recommend holding some Gold in your possession and then believe it or not, hold Gold in a country that does not have a history of Gold confiscation. Although when the U.S. Government confiscated its citizens Gold we were on a Gold Standard so in order to expand the money supply they needed more Gold then they had. So why would they need it now right? Since we no longer practice the Gold Standard they should not need our Gold correct? At the end of the day they can change the rules on us at anytime, so you should hold some Gold in Europe or Australia, both of which are regions that are friendly to Gold ownership. You can also own Gold in jewelry but this is because you like it, not as an investment. If you buy 14 karat gold, it’s less pure than investment grade. When you sell you’ll need to consider the purity of the gold and, more than likely, it will have to be refined to bring it up to investment grade. This is going to cost you money and take away from the purpose of hedging.

gold metal detectors

A modern day gold rush is underway. With gold prices at an all time high more and more gold seekers are heading into the gold mining fields of Arizona, Nevada, California, New Mexico, Alaska and many other places across the U.S. and other gold bearing areas of the earth. In the gold mining and prospecting world you can now routinely hear of men and women gold seekers spending thousands of dollars on gold mining and prospecting equipment they have never used, having no experience finding gold and buying worthless gold mining claims with hopes of striking it rich. Those who are mining the miners are in the real gold.

Recreational gold mining and prospecting has become a popular outdoor recreation in a number of countries, including New Zealand (especially in Otago), Australia, South Africa, Wales (at Dolaucothi and in Gwynedd), in Canada and in the United States especially in western states but also elsewhere. Recreational gold mining is almost entirely small-scale placer mining.

Placer gold mining is the mining of alluvial deposits (deposits of sand and gravel in modern or ancient stream beds) for minerals. This may be done by open-pit (also called open-cast mining) or by various forms of tunneling into ancient riverbeds. Excavation may be accomplished using water pressure (hydraulic mining), surface excavating equipment or tunneling equipment.

The name derives from Spanish, placer, meaning “sandbank.” It refers to mining the precious metal deposits (particularly gold and gemstones) found in alluvial deposits. The metal or gemstones, having been moved by stream flow from an original source such as a vein, is typically only a minuscule portion of the total deposit. The containing material may be too loose to safely mine by tunneling. Where water under pressure is available, water under pressure may be used to mine, move, and separate the precious material from the deposit.

Gold mining and prospecting activities allowed on public lands vary with the agency and the location. Gold pans and shovels are commonly allowed, but sluice boxes and suction dredges may be prohibited in some areas. The Department of Agriculture in the U.S. is now of the view that recreational gold panning and gold prospecting in national forests is permitted provided that no machinery or explosives are used, no waterways are diverted, and no permanent or semi-permanent structures are built. There are public mining areas in many states, and prospecting may allow one to stake a gold placer claim or other type of gold mining claim in certain areas. Some public lands have been set aside for recreational gold panning. Some private land owners also give permission for small-scale gold mining.

The Gold Prospectors Association of America (GPAA) is an organization dedicated to finding and mining gold on a small or recreational scale. It has gold claims across America and members can work the claims for a yearly fee. The club is headquartered in Temecula, California. Most, if not all GPAA activities are in the United States. The organization was founded in 1968 to preserve and promote the great heritage of the North American Prospector. The association greatly frowns upon mining methods that harm the environment, and is against anti-prospecting bureaucracy.

The beauty of this new gold rush is we get to experience it and see the successes and failures as they unfold in the gold fields. Gold Mining and prospecting equipment sales are at an all time high, advertising in gold prospecting and mining magazines is being sold at premium prices and the BLM is processing more gold claims than anytime in the last 20 years. Metal detectors costing $4,000.00 plus designed for gold are selling like gold pans in the days of the gold rush of the 1800s. This is a very exciting time to be a gold prospector.

Gold Mining Equipment

historic man first stumbled upon a nugget, raw gold with its radiant sun yellow coloration and metallic luster has captivated and fascinated mankind. The unique gleam of gold attracts the eye, enabling the seeker to detect the smallest of grains in an aggregate of many other materials. The tiniest flakes are easily detected.

Anthropological excavations of Stone Age burial sites indicate that gold was the first element collected and prized by man. This unique metal, gathered in the form of nuggets, seems to have been highly prized but was not used in practical applications. Rating 2.5 ? 3 on Mohs scale of hardness, gold was much too pliable to be hammered into workable tools or weapons. Gold carried little value for prehistoric man except to be admired and treasured for its rare, intrinsic beauty.

However, as man developed he soon discovered numerous applications for the mysterious golden metal. The earliest record of gold exploration dates to Egypt around 2000 B.C. Ancient records tell of an enormous alluvial gold deposit in Nubia, between the Nile River and the Red Sea in southeastern Egypt. This incredible discovery encompassed over one hundred square miles. Using the most primitive of tools and working to an average depth of less than six feet, these first ?miners? pried an estimated one thousand tons of gold from this rich discovery. Egyptian artisans, recognizing the extraordinary malleability of gold fashioned incredible jewelry, ornaments and idols of breathtaking beauty. Throughout the history of man?s involvement with gold, the precious metal has been prized not only for its beauty but for gold?s ability to withstand the rigors of time. No substance that appears commonly in nature will destroy gold. Unaffected by air, moisture, heat or cold, this noble metal will not tarnish, corrode, rust or tarnish. Shimmering gold dust, golden nuggets of placer gold and brilliant vein occurrences have survived 4.5 Billion years of cataclysmic geologic and climate changes; volcanic eruption, earthquakes, upheavals and deposition. Treasures of gold jewelry, bullion and coins, buried for thousands of years beneath land and sea have been found intact; as brilliant as the day they were abandoned.

A relatively rare native metallic element, gold ranks fifty-eighth in abundance amongst the ninety two natural elements that make up the earth?s crust. Although considered a rare element, of all metals gold is, with the exception of iron, the most widely distributed over the planet. Gold has been found on 90 per cent of the earth?s surface and is mined in high mountain ranges, in the deeply weathered soil of the tropics, harsh deserts and in the permanently frozen tundra of the Arctic.

Gold is commercially mined on every continent with the exception of Antarctica. The richest gold producing area of the world is the Witwatersrand District of South Africa. This ultra rich area has yielded eighteen thousand tons of gold with no end in sight. Additional notable gold bearing areas around the world are Siberia in the former USSR, the Porcupine District in Ontario, Canada and in the United States the Yukon District of Alaska and the famous Mother Lode District in California.

In the United States nature was extremely generous. Thirty-two states have recorded significant commercial gold production. The highest yielding areas are located within the western states, California, Colorado, Alaska, Nevada and South Dakota. Other abundant locations for prospecting include Georgia, Arkansas, Idaho, Utah, Montana, Washington, New Mexico, Wyoming, North and South Carolina, Tennessee, Michigan, Vermont and New Hampshire. The recreational gold prospector can find gold in his pan in practically every state of the union.

Gold is an ideal media for craftsmen. It is a metal that can be deformed by pounding without breaking or crumbling. Gold, in its pure form is the most malleable or workable of all metals. One single ounce of gold can be drawn and stretched into an ultra fine wire over 50 miles in length without breaking or pounded to the amazing thinness of one hundred thousandth of an inch without disintegrating. Gold is easily carved, readily buffs to a gleaming polish, can be heated repeatedly without discoloration and joins to itself or other metals by soldering without the need for a bonding flux.

For more than 6000 years gold has been considered symbolic of wealth, power and status. In 1350 B.C. the Egyptian boy king, Tutankhem, was interred in a coffin elaborately cast from 242 pounds of solid gold. Throughout history men and women have adorned their bodies with brilliant, gleaming gold. The ancient custom of exchanging gold during marriage ceremonies continues today. The nobility of Medieval Europe liberally sprinkled gold in the form of dust, flake or leaves on their food to demonstrate the host?s great wealth. Today gold is still often used in food and has the E Number 175. However, since metallic gold is inert to all body chemistry, it adds no taste nor has any other nutritional effect and leaves the body unaltered.

Primitive man believed gold contained a hidden, internal fire, a gift from the Gods with mysterious healing and magical powers. Numerous cultures of sun-worshippers revered gold as the tangible essence of their God; solid sunshine. In modern day Japan believers seek gold?s medicinal magic by immersion in a bathtub designed in the form of a phoenix crafted from 400 pounds of pure gold. Health and gold have long been entwined in the wondrous belief that something so rare and beautiful could not be anything but healing and healthy.

Today modern esotericists and forms of alternative medicine embrace the healing properties of gold. Some gold salts have anti-inflammatory properties and are used as pharmaceuticals in the treatment of arthritis and other similar conditions. However, only salts and radioisotopes of gold are of pharmacological value, as elemental or metallic gold is inert to all chemicals it encounters within the body.

Gold is a ?storehouse of value?, the natural way for man to preserve capital and protect against financial uncertainty or monetary collapse. In modern times gold has served as a hedge against the threat of inflation and as a secure and safe way to secret away assets. The ?hoarding? of gold occurs most frequently during times of war, adverse world conditions and international fears of economic instability. Gold has often defeated the attempts of governments to inflate the currency of their country as well as circumventing the aims of those holding political power to direct the economy of other nations.

Throughout recorded history, gold, the crowned king of metals, has been considered the ultimate monetary exchange. Gold is the only currency that isn?t someone else?s responsibility or liability; it is more that just a paper promise to pay upon demand. Gold?s worth does not rely on the economic stability of any country, political power or financial cartel. Gold has value in and of itself.

The current world price of gold is established daily by the London Gold Market which trades gold bullion and coins with other financial world centers such as Zurich, Hong Kong , Frankfurt and Paris. The price is based on pure or ?fine? gold, therefore the value of gold gleaned in its natural state may vary depending on the impurities it contains. However, raw gold sold as specimens or jewelry will always bring a considerably higher price. Gold nuggets are as distinctively different as snowflakes, although similar, no two nuggets are alike. A nugget of unique character and shape may sell for as much as five times its value by weight.

Do you have broken or discarded gold jewelry you not longer wear? Now may be the time to cash in on the current gold rush. With the price of gold exceeding the $1000 an ounce benchmark, an errant earring or broken gold chain could add up to a significant sum.

To receive the best price for gold you may wish to sell, know the karat count. Because of the softness of pure 24k gold, it is usually alloyed with base metals for use in jewelry, altering its hardness, color, melting point and ductility. Alloys with lower karatage, typically 22k, 18k, 14k or 10k, contain higher percentages of silver, copper or other base metals in the alloy. The higher the karat the more you should expect to be paid. If you only have a piece or two to sell, try a local jeweler or take a vintage piece to an antique jeweler. They?ll take the artist?s craftsmanship into consideration and you will net a much higher price than for just the gold weight.

gold dredges