GMRgold Blog

The Gold Digger – Gold vs. Equities

placeholder@cart.com — Tue, 26 Apr 2022 13:05:00 -0500

Imagine a casino full of slot machines that all guarantee a constant high return. All you need to do is to put in a bit of money and you will get an incredible income stream for life. Well, this is exactly what the stock market is...

GMRgold's Precious Metals Week in Review - April 24, 2022

placeholder@cart.com — Tue, 26 Apr 2022 11:40:00 -0500

Someone rang the alarm bells alerting institutional investors that Gold was about to take out the key psychological and resistance level of $2,000.00 per ounce resulting in punishing defeat for Gold Bugs last week.

Coin Grading 101

placeholder@cart.com — Wed, 13 Apr 2022 08:41:00 -0500

When collecting or investing in Numismatic Coins, the considerations for price include mintage, population, and condition. With the major grading services offering population reports, this helped additionally in determining the true existence of specific issues. For the large part, pricing is graduated based on the number of coins per grade.

GMRgold's Precious Metals Week in Review - April 3, 2022

placeholder@cart.com — Wed, 13 Apr 2022 08:29:00 -0500

Gold continues to be locked in a tight trading range proving support at the $1,900.00 level and resistance at $1,950.00. Starting the week at $1,933.00 and finishing at $1,925.00. Clearly all of the current geo-political and financial news is priced into the markets and we simply await the next headline that institutional traders seek to leg up or leg down their positions.

The Gold Digger – Transitory Inflation

placeholder@cart.com — Mon, 04 Apr 2022 21:11:00 -0500

Anyone who has ventured from their Covid sanctuary to buy groceries, peruse a big box retailer, filled a fuel tank or update the closet, surely was not surprised by the announcement this morning that inflation has once again ticked up.

Economic World War I – EWWI

placeholder@cart.com — Tue, 29 Mar 2022 06:56:00 -0500

There are two wars going on in the world at present. The sacrificial lamb for the real war is Ukraine. The real war being waged is an all-out economic war orchestrated by the same architect of the conflict in the former territory of the Soviet Union.

The Gold Digger – Recession Fears and Precious Metals

placeholder@cart.com — Tue, 29 Mar 2022 06:49:00 -0500

A recession is when your neighbor loses his house. A depression is when you lose your house. This old adage, while recited tongue in cheek, speaks to the awareness of economic situations occurring around us. There is a multitude of distractions currently to keep our attention away from the most important headline that is missing from the front page of the newspapers.

GMRgold's Precious Metals Week in Review - March 20, 2022

placeholder@cart.com — Tue, 29 Mar 2022 06:29:00 -0500

Gold traded in a tight range between $1,926.00 and $1,952.00 per ounce on the spot market last week. It would appear that the Ukrainian War is priced into the yellow metal.

GMRgold's Precious Metals Week in Review - March 13, 2022

placeholder@cart.com — Wed, 16 Mar 2022 06:34:00 -0500

Gold took the markets on a roller coaster ride last week with prices ranging from a high of $2,060.00 per ounce to a low of $1,950.00 causing independent investors to re-think their positions. Stand firm!

GMRgold's Precious Metals Week in Review - March 6, 2022

placeholder@cart.com — Tue, 08 Mar 2022 08:15:00 -0600

The war in Ukraine continues to dominate the headlines and drive markets across the board. Gold is now threatening to topple the all time high while knocking on the $2,000.00 per ounce door.

GMRgold's Precious Metals Week in Review - February 27, 2022

placeholder@cart.com — Tue, 01 Mar 2022 14:56:00 -0600

Gold Investors must have felt like Dallas Cowboy fans entering the playoffs last week as gold looked like it would head to the moon only to fall back to the comfort of its most recent foothold. After threatening the $2,000.00 per ounce spot price, Gold retreated to its safe zone near the $1,900.00 level that it has now set as the new level of support.

GMRgold's Precious Metals Week in Review - February 20, 2022

placeholder@cart.com — Tue, 22 Feb 2022 13:07:00 -0600

Week Ending February 20, 2022 | Gold added to the belief that this current strength in the spot market price is not just a “fluke run” but a firm “leg up”. Spending tireless months battling against the $1,800.00 level of resistance, gold took up residence in a new neighborhood well above that key psychological level.

GMRgold’s Precious Metals Week in Review - February 13, 2022

placeholder@cart.com — Fri, 18 Feb 2022 09:49:00 -0600

Week Ending February 13, 2022 | There is reason for optimism in the gold sector with spot prices bumping $1,900.00/ounce up nearly $100 since the beginning of 2022. If the trend continues, the psychological level of $2,000.00 could be breached within 6 – 8 weeks.

GMRgold’s Precious Metals Week in Review - February 6, 2022

placeholder@cart.com — Thu, 10 Feb 2022 19:20:00 -0600

Week Ending February 6, 2022 | Gold began the frigid month of February much like the Winter Storm that swept across the nation from Texas to Maine. FROZEN! Stuck in a tight range between $1,796.00/oz and $1,811.00/oz all week.

GMRgold’s Precious Metals Week in Review - January 30, 2022

placeholder@cart.com — Thu, 10 Feb 2022 08:19:00 -0600

Week Ending January 30, 2022 | Gold started the week well over $1,800 reaching a high during the week of $1,851.00 only to succumb to the bears and institutional investors who still are holding on to naked shorts by ending the week at $1,782.00.

GMRgold's Precious Metals Week in Review

placeholder@cart.com — Thu, 13 Jan 2022 08:00:00 -0600

Week Ending January 8, 2022 | There is still huge resistance at the $1,800.00 per ounce of gold level through the first full week of 2022. Expect a tight range of trading +/-$50 of this critical technical barrier until the large institutional investors have cleared their naked short positions and whomever wants the US Dollar to appear stronger than it actually is pulls the curtain back for the world to see.

GMRgold’s Precious Metals Week in Review

placeholder@cart.com — Thu, 06 Jan 2022 08:00:00 -0600

Week Ending January 1, 2022 | It is apparent that the Bears took a more extended vacation than the Bulls as is evident with the moves in Gold over the Holiday week. With the battle line firmly drawn at the psychological level of $1,800.00 per ounce for months, the yellow metal managed to close above this milestone each of the five trading days the last week of the year, only to find its way back to $1,799.52 on the first day of business in 2022.

Choosing the Right Gold Coin

placeholder@cart.com — Fri, 22 Oct 2021 08:38:00 -0500

If you go out in the market to purchase gold coins, you will realize that there are hundreds of options to choose from. While they are all made of gold, not all might be right or suitable for you. This is why it is important to know about gold coins.

Here are some of the most popular options:

American Eagles
Chinese Pandas
South African Krugerrands
UK and Australian Sovereigns
Canadian Maple Leafs

Here are a few factors to consider when selecting a gold coin:

The Type: Options include Sovereign, Eagle, etc.
Gold Content: Calculated in grams or ounces, this tells the exact amount of gold a coin contains. This is typically lower than the actual weight of the coin.
The Size: The size might be calculated in value or weight, i.e.: 5 grams.
Face Value: It’s the true value of a coin. For example, 10 rands or 1 rand (South African).
Weight: Typically measured in ounces, it tells the true weight of a coin. In some countries, however, it’s also measured in grams.
Fineness: This factor tells the amounts of impurities your coin contains. Most coins are usually 99.7% fine. Companies add other metals like silver to make it easy to mint coins. However, you might also be able to find some coins with a fineness of 99.9%.
Price: This is the amount you will have to pay to own the coin. It usually includes margin and tax and is generally called 'price above spot'.

Make sure to look at the picture of what you’re purchasing if you’re buying gold online. Most sellers will display multiple photos and the information highlighted above on the product page. You must ask for this information if it’s available on the page.

In addition to this, some sellers may also display additional information including date of issue and condition, i.e.: if it’s new or old.

To sum it up, pay attention to these factors and pick a coin that suits you. Some rare coins might be more expensive than other coins of the same value and fineness.

Precious Metals IRA Investing for Beginners

placeholder@cart.com — Thu, 21 Oct 2021 17:01:00 -0500

A Precious Metals IRA is an IRA account that contains physical gold, silver, platinum or palladium. You must keep it in a vault at an approved secure storage facility. You contribute to it just as you would to an IRA containing stocks. How do you begin? First, you need to understand the principles of Precious Metals IRA investing. Then, find the best gold IRA company to help you along the way. The best gold or silver IRA company can help you manage this investment. They can help you buy and sell precious metals to maximize your long-term earnings, too.

These PM IRAs give you the same tax advantage as any IRA, so you don’t pay taxes on them until you take disbursement at retirement time. Or, you can use after-tax dollars to buy precious metals, add them to a Roth IRA, and avoid paying taxes on the entire amount at disbursal time. In addition to the tax benefits, Precious Metals IRA investing is a good idea for many reasons. First, this type of IRA is self-directed. You make the choices for each addition to your portfolio. You choose how to take your disbursement, whether that is to buy or sell the precious metals and take away cash or to take physical possession of your precious metals and hold them wherever you choose.

Precious metals also offer a safe haven during difficult or uncertain economic times and times of national and global unrest. Because gold, silver, platinum and palladium retain their value over time and increase over the long term, they provide a superior hedge against inflation. And, they allow you to diversify your portfolio to provide you with more financial security.

You can only invest in IRA-approved silver, gold, platinum or palladium coins, rounds and bars. Some of the options for Precious Metals Investing include Gold American Eagles, Silver American Eagles, Gold Buffalos and Silver and Gold Canadian Maple Leafs. Other choices are Austrian Philharmonics, Gold Pandas, Sunshine Mint Rounds, PAMP Suisse, Credit Suisse or PAMP Suisse gold bars. To make sure you get coins, bars and rounds that are IRA-approved, your best bet is to work with a Precious Metals Investing Company to buy IRA Gold coins, rounds and bars, as well as other precious metals.

Choosing the best gold IRA company begins with a basic understanding of this type of investment account. Once you understand how the process works, you have a basis for judging the capabilities of a gold or silver IRA company.

GMRgold.com can help you invest in Precious Metals IRA Investing any time you are ready to begin a new IRA or add to an existing one. For more information or to begin right away, contact GMRgold at 1 (877) 795-9585. Our Precious Metals experts can help you purchase your IRA account, fund it, and choose your investments. We are happy to guide you on your journey toward financial independence and long-term security.

Learn everything you need to know about investing in precious metals in the form of a Precious Metals IRA, and how to take full advantage of the benefits of this type of IRA by downloading our ebook "Protect Your IRA With Gold."

What Is the History Behind the American Silver Eagle?

placeholder@cart.com — Thu, 21 Oct 2021 16:58:00 -0500

The American Silver Eagle is a beautiful coin with significant intrinsic and numismatic value. Investors the world over hold these coins in their precious metals portfolios. Coin collectors treasure them for their numismatic value. The Silver Eagle also has a fascinating history.

Why the U.S. Needed a Silver Coin in the Mid-80s

The idea for a silver U.S. coin came about as the answer a question about what to do with excess silver. The U.S. had a large stockpile of silver set aside. Yet, military leaders made it clear during the 1970s that all that silver wouldn’t be needed for defense anytime in the near future. So, Congress had a dilemma: what should be done with the stockpile?

Opposition to Silver Sales

The simplest thing to do would have been to just sell the excess silver as it was. However, there was a problem with that. Flooding the market with silver would cause a drastic drop in silver prices. Mining interests opposed such sales, of course.

Investors who stayed up to date with what was happening to the stockpile became aware that plans were being made to sell off the precious metal. As a result, silver prices started dropping even before the sales could be announced.

Balancing the Budget

The Reagan Administration had an interest in the debate over whether to sell the silver. Reagan was intent on balancing the federal budget. His administration saw the silver stockpile as an asset they could leverage in their quest for a balanced budget. They wanted to sell the stockpile immediately and add the proceeds of the sale to the government coffers.

Silver Sales Ended

Congress complied with Regan’s request and ordered the silver to be sold. In July 1981, they passed legislation to sell off 75% of the stockpiled silver. However, after an auction was announced for October 1981, Idaho silver mining companies, under the leadership of Idaho’s Senator James A. McClure, called for an end to silver sales until 1982.

Congress agreed with McClure and the mining companies. They decided that, at least for the time being, silver sales from the stockpile would be suspended. The President of the United States would determine whether there was too much silver in the stockpile no later than July 1, 1982.

Bill for a Coin

Senator McClure hadn’t forgotten about the National Defense Stockpile when the deadline for determining the fate of the silver approached. In May 1982, Senator McClure introduced a bill that would require the government to sell off the silver in a more advantageous way. McClure’s suggestion was that the silver be minted into coins. This option would give the country the best possible value from the silver without depressing the price of silver on the market.

Congress decided to delay the sale of silver until they could study the situation more. Senator McClure wasn’t finished yet. Instead, he introduced an identical bill again the next year. The bill would require the government to sell any silver it deemed necessary to offload in the form of silver coins. The 1983 bill didn’t pass either, but Senator McClure hadn’t given up. He introduced an amendment to the Statue of Liberty-Ellis Island Commemorative Coin Act two years later. His legislation finally passed, and Reagan signed it into law in 1985.

The Liberty Coin Act

Senator McClure’s amendment became known as the Liberty Coin Act. The act directed the Secretary of the Treasury to mint and issue enough $1 silver bullion coins to satisfy public demand. The act required the silver for the coins to come from the National Defense Stockpile. It also specified the size, weight and design of the coin.

Specifications

The following specifications were set for the American Silver Eagle coins:

Silver content: 0.999 troy ounces
Total weight: 1.000 troy ounces
Diameter: 1.598 inches
Thickness: 0.1117 inches

Obverse Design

The obverse design of the American Eagle was to come from a new rendition of Adolph A. Weinmxsan’s Walking Liberty design first used on half dollars in 1916. Walking Liberty is one of the most beloved coin designs in American history. Many consider it the most beautiful design ever used on American coins.

The obverse design features Lady Liberty walking confidently towards the rising sun. The Stars and Stripes are draped over her shoulder, and she carries branches of oak and laurel. The image represents the military and civil strength and glory of the United States. Inscriptions on the coin include “LIBERTY,” “IN GOD WE TRUST,” the year, and engraved in the hem of Liberty’s gown, Weinman’s initials.

Reverse Design

John Mercanti, a U.S. Mint Sculptor and Engraver, designed the reverse design depicting an American Eagle. Specifically, Mercanti’s design is a heraldic eagle design that shows an eagle with wings outstretched. In front of the eagle is a shield. The reverse image of the eagle holding an olive branch and arrows in its talons is reminiscent of the Great Shield of the United States. Thirteen five-pointed stars shine above the eagle and represent the original thirteen colonies. Inscriptions include “UNITED STATES OF AMERICA,” “1 OZ. FINE SILVER-ONE DOLLAR,” and “E PLURIBUS UNUM.” If the coin has a mintmark, it is also shown on the reverse. The bullion coins do not have mintmarks.

The Coin Is Struck!

On October 29, 1986, Secretary of the Treasury James A. Baker III held a striking ceremony at the San Francisco Assay Office to celebrate the striking of the first American Silver Eagle coin. It was a joyous occasion, and Baker enthusiastically suggested that it would be the beginning of a new San Francisco silver rush.

Extending the Program

By 2002, it was clear that the silver stockpile would be depleted soon. To continue with the program, new legislation would have to be passed to allow for purchase of silver from elsewhere. That same year, Senator Harry Reid introduced a bill called the “Support of American Eagle Silver Bullion Program Act.” The bill allowed Congress to purchase silver on the open market for making the Silver Eagle coins. The bill passed and was signed by President Bush on July 23, 2002.

Types of Silver Eagle Coins

Several different types of Silver Eagle coins are produced by the U.S. Mint. These include bullion, proof, uncirculated, special issues, and variants.

Bullion

The bullion coins were minted at the San Francisco Mint through 1988. The Philadelphia Mint and the West Point Mint took over their production from 1999 to 2000. Later, the San Francisco Mint began producing the bullion coins again, with help from the West Point Mint.

The bullion coins have no mintmarks. They are valuable for the intrinsic worth of their silver content rather than their numismatic worth. However, they are still attractive and desirable coins.

Proof

Proof coins, made in relatively small quantities, have more of a more reflective look than a standard coin. They’re made for collectors. Proof Silver Eagle coins were minted in the following locations and with these mintmarks:

1986-1992 – San Francisco Mint, bearing “S” mintmark
1993-2000 – Philadelphia Mint, bearing “P” mintmark
2001-2008 – West Point Mint, bearing “W” mintmark
2009 – No Silver Eagle proof coins were minted
2010 forward – West Point Mint, bearing “W” mintmark
2016-2017 – West Point, San Francisco, and Philadelphia Mints, with “W,” “S,” and “P” mintmarks respectively

Uncirculated

The U.S. Mint issued uncirculated Silver Eagle burnished coins. They were struck at the West Point Mint from 2006-2008.

Special Issues

The following special issues included Silver American Eagle coins:

1993 – The Philadelphia Set
1995 – The 10th Anniversary American Eagle Five Coin Set
2000 – United States Millennium Coinage and Currency Set
2004 – Legacies of Freedom United States and United Kingdom Silver Bullion Coin Set
2006 – Reverse Proof Silver Eagle
2006 – 20th Anniversary Gold & Silver Eagle Set
2007 and 2008 – Annual Uncirculated Dollar Coin Set
2011 – American Eagle 25th Anniversary Silver Coin Set
2012 – San Francisco American Silver Eagle Two Coin Proof Set
2012 – Making American History Coin and Currency Set
2012 – 2012 United States Mint Limited Edition Silver Set
2013 – 2013 American Eagle West Point Two-Coin Set
2016 – 30th Anniversary Silver Eagles

Variants

There are only a few unusual varieties of the Silver American Eagle. The most significant is the 2008-W Silver Eagle Reverse of 2007 Variety, which happened when the reverse design was changed slightly just before 2008 minting. These coins were struck with the old 2007 reverse dies.

Later Developments

Since the Silver Eagle Program began, several factors have impacted it. These include:

The global recession that took place between the late 2000s and the early 2010s created a dramatic rise in the demand for precious metals coins like the American Silver Eagle. Many investors, wanting a secure hedge against inflation, chose the Silver Eagle.
What amounted to rationing of the Silver Eagles started in 2008 as the U.S. Mint began to allocate only a limited number of coins to authorized dealers. Some experts suggest this was illegal, since the legislation for the coin required the U.S. Mint to provide enough coins to meet the public demand.

Distribution Then and Now

The Silver American Eagle has been incredibly popular since it was first issued. Strict rules were set up for the distribution of these coins through banks, wholesalers, coin dealers and specified others. Only a few special issues were sold directly to the public.

If you’d like to learn more about the Silver Eagle, our precious metals advisors (https://www.gmrgold.com/) are available to help and offer guidance on this and other precious metals buying decisions. The American Silver Eagle is a great choice for first purchases, regular investment, or for adding to your numismatic collections.

Is Now A Good Time To Buy Gold & Silver?

placeholder@cart.com — Mon, 11 Oct 2021 00:00:00 -0500

This is number 1 out of a 4-part series answering the most frequently asked questions about investing in precious metals. We understand that whether you are new or not to investing in gold, silver, precious metals, and bullion, there are always some things that you might want or need to know. So we are here to help you. In this video, we are going to answer the most asked query today - is it right to buy gold and silver now? Surely, you have an idea that gold and silver are excellent investments to own. And they can hedge you from inflation while giving you the ability to save for a good financial future. But should you buy them now? Let’s talk about that.

Knowing When to Sell Your Silver

placeholder@cart.com — Sun, 10 Oct 2021 00:00:00 -0500

Along with gold and other precious metals, silver is one of the best investment possibilities. While it is a hedge fund asset and a way to save for retirement or a future business, it is not as difficult to acquire as gold because it is less expensive. Furthermore, with silver, you can be sure that actual societal necessities can drive up demand. Silver is used in a variety of applications, including industry, electronics, medical, jewelry, and more So all you have to do is buy and collect, store, and then trade your silver for a profit when the prices are correct. However, how can you ensure that you gain the greatest value from your silver investments? Here are some helpful hints for selling silver.

How to Value Your Silver Coins

placeholder@cart.com — Sun, 10 Oct 2021 00:00:00 -0500

If you are storing silver coins for investments, you can be on a good path to sustainable wealth. Silver is an excellent asset to have because they can hedge you from economic downswings, grow in value as you store them, and are easy to buy and sell. But how you make a profit from silver will depend on how much you have. Do you know the value of your silver coins? The value of your silver coins can depend on many factors that involve their purity, weight, brand, history, and others. Also, whether your coins are in good or bad condition can affect the selling price. In this video, we will discuss about all the factors that will help you calculate your silver coins’ value.

How to Clean Your Silver Coins

placeholder@cart.com — Sun, 10 Oct 2021 00:00:00 -0500

Silver is an excellent investment to have. When you have physical silver assets in your store, you have a strong collection that diversifies your portfolio and can help you secure your financial position and future wealth. And some of the best types of silver investments you can have are coins. Silver coins are beautiful things to collect and display in your home. It is something that your visiting relatives and friends can admire. So they have to look pristine and clean so you have to implement some sort of maintenance. But isn’t cleaning silver going to damage its value? Watch this video to learn how to exactly clean your silver coins.

Why Buy Silver Bars?

placeholder@cart.com — Sun, 03 Oct 2021 00:00:00 -0500

Investing in silver is one of the best things that you can do to diversify your portfolio and secure your financial position. With silver in your store, you can save up for a wealthy retirement that you can enjoy. The good news is that it is fairly simple to find someone selling silver investments even online. You can easily find bullion like coins, bars, ingots and more. Some people prefer coins. And for others, they choose bars. Silver bars are a good investment because they can be stored in a safe place and they will always have value. Learn more about why you should buy silver bars in this video.