California Woman Inherits Fortune in Gold Coins

December 19, 2012

Carson City officials say a substitute teacher from California is the only heir to a fortune of gold coins found in the home of reclusive cousin who died in June.

A court hearing in Carson City is scheduled Tuesday, when a judge is expected to certify first cousin Arlene Magdanz as the lone heir to the treasure valued at $7.4 million found in the home of Walter Samaszko Jr., Carson City Clerk-Recorder Alan Glover told the Nevada Appeal.

Samaszko, 69, lived a quiet life in Nevada’s capital city since the late 1960s and no one apparently knew of his wealth. Records show he withdrew just $500 a month from his stock accounts to pay modest bills, said Glover, who was handling Samaszko’s affairs as public administrator.

Samaszko apparently had no living family in Carson City, so genealogical researchers went to work to find relatives elsewhere. They found Arlene Magdanz is the only living heir. Magdanz could not immediately be reached for comment.

A crew hired by Glover to clean up the man’s house discovered the eye-popping stash: boxes of gold coins and bullion in the garage. More boxes were later found, and Glover said the gold coins, some neatly wrapped in foil and plastic cases, were enough to fill two wheelbarrows.

Appraiser Howard Herz filed his report several weeks ago listing a total of 2,695 coins appraised at more than $7.4 million.

http://sacramento.cbslocal.com/2012/12/14/california-woman-only-heir-to-fortune-of-gold-coins/

Liberty Gold

 

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Gold American Eagle Sales Are Soaring Due to Fiscal Cliff Threat

December 10, 2012

Demand for gold coins among American investors has soared since the presidential election, as investors are growing increasingly worried about the lack of action to address America’s debt problems.

The US Mint’s sales of American Eagles, the most popular bullion coin, soared 131 per cent in November, hitting the highest level in over two years. November was also the strongest month in 2012 for gold Maple Leaf coin sales for the Royal Canadian Mint.

The political gridlock in Washington and the prospect of further quantitative easing when the Federal Reserve’s “Operation Twist” expires at the end of 2012 have fuelled demand for gold investments among investors.

While the jump in gold bullion coin sales highlights gold’s role as the preferred safe haven for investors, investors should realize that bullion coins make up a relatively minor sector of the investment market for gold coins.

Rare gold coins, for example, offer security, privacy and performance advantages over gold bullion coins. They are immune from possible government restrictions on private gold ownership. They are anonymous and, because of their scarcity, they can appreciate even when the price of gold is falling.

The experts at Coin Trader can help you select the gold investments that are right for you.

2% “fabrication premium”  we have today for bullion coins like American Eagles is similar to jewelry premiums in Asia.


Gold Soars to $37 to 6-month High on News of QE3

September 13, 2012

Against a backdrop of turmoil and violence in the Middle East, the Federal Reserve today announced a new round of monetary stimulus to jump start the stagnant US economy.

As a result of this announcement the price of gold shot up $37 per ounce to a six-month high, closing at just under $1,770 per ounce.

Stocks also soared in response to the announcement in hopes that the new Fed policy would succeed better than QE and QE2 in getting the US economy humming along again. The Dow finished higher by over 206 points.

The nature of QE3 amounts to the Fed going out in the open market and buying $40 billion worth of Treasury bonds every month, thus increasing demand for US Treasury securities and injecting more dollars into circulation.

We are not at all sure that this will result in a healthier US economy, but we are sure that it will result in a weaker dollar and higher inflation. Because of that, we expect that the current bullishness in stocks will eventually expire and the bullishness in gold investments will continue. A weaker dollar and higher inflation have historically been bearish for the stock market and bullish for gold.

Flooding the world with more dollars can only mean a weaker dollar and such stimulative monetary policies have historically led to higher inflation. We expect that inflation will make itself felt in the form of higher oil and gasoline prices in the short term and in other areas down the road.

All of this should prompt investors to buy gold investments now because it appears that gold has a ways to run. And the best way to take advantage of higher gold prices is to buy rare gold coins, which have added profit potential due to their scarcity.


US Mint Gold American Eagle Sales Rise and Two Big European Banks Bullish on Gold

July 2, 2012

There are two very positive news stories circulating today about gold which should make everyone who has already included gold in their financial planning very happy. If you are still considering adding gold investments to your financial plan, these two stories should reinforce a positive decision.

First, the US Mint reports that sales of Gold American Eagles continue to rebound. June sales were the strongest since March and higher than May, which is unusual, with June usually being a seasonally softer month. Investors are flocking back to gold due to worries over the European financial crisis.

Those worries were reflected in two separate positive reports on gold from European banks:

Barclays Capital, one of the largest banks in the United Kingdom, issued an advisory that the “macro environment remains bullish for gold.”

Commerzbank, a major German banking firm, also declared that it too is optimistic for gold.


Ignore the Talking Heads Acquire Gold Now!

March 16, 2012

On a daily basis, we follow the nuances of the Precious Metal & Rare Coin markets. Experts everywhere talk about the upside & downside of these portions of the market. We pass much of this information on to our readers in an effort to educate and aid in your decision of when to acquire or potentially sell. Of late, the mantra given is Buy on the Dip & Gold is still a fundamentally sound investment.

I read an article recently that asserted listening to daily news can impair your judgement about the right investments. In other words, you get too much insight and you cant see the investment for the trees. They suggested to read on the subject from the macro not the micro. The set long term goals and stick to them.

This is why we often bring up an investment goal of a conservative 10% to aggressive 20%of your net worth invested in a diversified precious metals & rare coins portfolio. We call this a Tangible Asset Portfolio (TAP) it is a long-term plan with a definable goal. While we will continue to watch the news and disseminate the information to you we will never lose track of the long term goal. Own gold as a diversification  to your overall investment and keep your TAP just as diversified to preserve your hard earned wealth.