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Central banks and the International Monetary Fund play an important role in the gold price. At the end of 2004 central banks and official organizations held 19 percent of all above-ground gold as official gold reserves. The Washington Agreement on Gold (WAG), which dates from September 1999, limits gold sales by its members (Europe, United States, Japan, Australia, Bank for International Settlements and the International Monetary Fund) to less than 400 tonnes a year. European central banks, such as the Bank of England and Swiss National Bank, have been key sellers of gold over this period.
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One of the biggest problems buying collectible gold coins is grading. Your idea of an MS65 may be different than the dealer's. Many coins have a huge gap in value between grades. Avoid the issue by buying only certified gold coins that have been graded by a third party grading service. Make sure that you only accept the major services (ANACS, NCG, PCGS, NCS, ICG) grading, there are some lesser known grading services whose grading may be suspect.
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In July 2002, a very rare $20 1933 Double Eagle gold coin sold for a record $7,590,020 at Sotheby's, making it by far the most valuable coin ever sold to date. In early 1933, more than 445,000 Double Eagle coins had been struck by the U.S. Mint, but most of these were surrendered and melted down following Executive Order 6102. Only a few coins managed to survive.
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A bad investment are "spurious set" coins. This is another popular TV shopping show product, plus they're found in magazines and swap meets quite often. "Spurious sets," by my definition, are sets that are put together out of lower grade and/or common coins according to some kind of theme. The coins are usually placed in fancy plastic holders, with nice quality packaging, and then you pay $38.99 for a set of five coins that are worth $2.99 just because they were all minted during World War II, or the Vietnam War, or because they're from around the world and commemorate Marilyn Monroe or some sort of cartoon characters. Such coins are usually genuine, and will probably appreciate in value, but they probably won't be worth what you paid for them anytime during the next five generations! These are a favorite of dealers like Littleton.
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discount gold bullion coins News
China to issue commemorative coins for maiden spacewalk success
Tue, 30 Sep 2008 05:38:00 +0000
BEIJING, Sept. 29 (Xinhua) -- The People's Bank of China, the central bank, said on Monday that it would issue a set of gold and silver coins on Oct....
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U.S. MINT SAYS PUBLIC IS EMBRACING NEW 'GOLDEN DOLLAR' COIN (US Mint Press Release)
Wed, 04 Apr 2007 04:13:00 +0000
Paul Green's "evergreen" articles in Numismatic News
Mon, 15 Sep 2008 04:40:00 +0000
Gold Soars Most Since 1999, Silver Surges on Demand for Haven
Wed, 17 Sep 2008 21:04:29 +0000
By Pham-Duy Nguyen
Sept. 17 (Bloomberg) — Gold surged the most in nine years as investors sought the safety of precious metals on concern that the credit crisis will deepen, leading more financial institutions to fail. Silver soared the most since 1979.
Equities tumbled after the Federal Reserve took over the biggest U.S. insurer. The cost of ...]
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