Today's Spot Prices Gold: $1,278.80$-5.90

 

Silver: $15.27$-0.09

 

Miscellaneous

  • Troy Ounces vs. Avoirdupois Ounces

    The differences between the weighing system of Troy and Avoirdupois are slight, but extremely important for anybody who deals with precious metals.

    In this blog post we’ll outline how each weighing system differs and how best to understand them. Read More »

  • Cybercrime, Cryptocurrency, & How to Keep Your Money Safe

    Have you ever heard of the saying “harder to break into than Fort Knox?” The phrase means that accomplishing a task is difficult, bordering on the impossible. A huge portion of the US’s past gold reserves were stored at Fort Knox in the past and it was never robbed. Gold is safe to invest and safe to own – it’s been a proven safe haven asset for centuries. Read More »

  • The Impact & Influence of Edmund Moy

    Edmund Moy is a visionary, political leader, businessman, author, and public speaker.

    He has been the director of the U.S. Mint, an advisor to a president, director of the nation’s healthcare systems, key correspondent for various news agencies, and board member of public, private and non-profit boards. Read More »

  • The Risks of Using Banks for Gold Storage

    Sorry, You Can’t Have Your Gold - by Jeff Thomas

    We regularly caution our clients of the risk involved in storing wealth in banks.   Read More »

  • International Precious Metals Secures Entire Mint Box of Rare Gold American Eagle Coins

    (June 6, 2016) - International Precious Metals (IPM), a leading provider of rare certified coins and physical precious metals, announced today Read More »

  • Chinese Yuan Aims to Knock Out the American Dollar

    The almighty American Dollar’s current reign as the “World Champion” reserve currency may be coming to a end.  The aim is for the chinese yuan to knock out the American Dollar, and has made aggressive moves in precious metals to achieve their goals.  With the creation of its Asian Infrastructure Investment Bank (AIIB), they will challenge the U.S. dominance of the world’s financial system. Read More »

  • Edmund C. Moy Signature Labels available at International Precious Metals

    Edmund C. Moy Signature Labels

    Edmund C. Moy is a former U.S. Mint Director, celebrated author, respected economist and sought-after public speaker.  Born in Detroit, Michigan, he was raised in Waukesha, Wisconsin.  He has been celebrated for his pioneering work at the U.S. mint and has been honored with Edmund C. Moy signature labels . Read More »

  • 7 Urgent Reasons to Buy Gold Now

    Wise investors are drawing closer to Gold's defensive, safety haven, functionality. Physical gold is private, portable, secure and immutably valuable. Historically, it has retained its value, maintaining through the collapse of governments and even cultures. No paper asset offers the same security.Gold’s safety haven appeal often benefits from uncertainty in the wider financial markets.
  • What is the Citizens Coinage Advisory Committee?

    The Citizens Coinage Advisory Committee, CCAC was formed in 2003. It serves as a replacement for the Citizens Commemorative Coin Advisory Committee, which though similar, had a more limited role. The CCAC functions as a representative of the interests of American citizens and coin collectors.

     

    It was established to advise the Secretary of the Treasury  on proposed themes or designs for circulating coinage, bullion coinage, Congressional Gold Medals, national and other medals. The CCAC also makes recommendations  with regard to the events, people, or places to be commemorated on coins in each of the five calendar years  following the year in which a  commemorative coin designation is made.

     

    CCAC portland-oregon-convention-center

     

    They also make recommendations with respect to the mintage level for any commemorative coin. The Secretary makes the final decision on all coins based on the committee's recommendations.

     

    The committee is comprised of 11 members whose job it is to offer experienced an impartial advice to the Secretary of the Treasury, spends hours determining how money looks and how moments in American history will be perceived by future generations. Of the 11, four members are recommended by House and Senate leadership. Currently, those four are Donald Scarinci, Mike Moran, Thomas J. Uram and Mary Lannin. It is mandated that one person on the committee be an expert in the study or collection of currency, also known as numismatics.

     

    CCAC coin-collectingDr. Michale Bugeja fills that seat. One member -  currently Robert Hoge - must be an expert in the curation of numismatics. The committee must also have an expert in medallic art – Heidi Wastweet -  and an American historian – Dr. Herman Viola. The remaining three are drawn from the general public. Those currently include Erik Jansen, Gary Marks and Jeanne Stevens-Sollman.

     

    A public meeting of the CCAC is set for 9:30 a.m. until 6:45 p.m. Thursday, March 5 in Room 151 of the Oregon Convention Center at 777 NE Martin Luther King Jr. Blvd in Portland, Oregon. Agenda items include the review and consideration of candidate designs for the 2016 Mark Twain Commemorative Coin Program, the Monuments Men Recognition Act Congressional Gold Medal Program, the Code Talkers Recognition Congressional Gold Medal Program for the Rosebud Tribe, and the Ronald Reagan Presidential $1 Coin.The CCAC will also review and advise on design concepts for the 2017 America the Beautiful Quarters Program Coins, the Nancy Reagan First Spouse Gold Coin and Bronze Medal, and the 2017 Lions Clubs International Century of Service Commemorative Coin Program.

     

    The CCAC will also host a public forum the next day, Friday, March CCAC professional-business-meeting-image6, 2015, at 9 a.m. in Room 149 to receive input from collectors and other members of the public. Any member of the public interested in submitting matters for the CCAC’s consideration or addressing the CCAC at the Public Forum is asked to submit them by fax to the following number: 202–756–6525.

     

    For more information write to William Norton, United States Mint Liaison to the CCAC; 801 9th Street

    NW., Washington, DC 20220; or call 202–354–7200.

  • Seigniorage: How Much Profit is the Government Making off Coins?

    The definition and role of Seigniorage in our government

    The word “Seigniorage” comes from Old French meaning the right of a lord, or Seigneur, to mint money.

    It is the difference between the value of money and what it cost to produce it.

    Seigniorage is a convenient source of revenue for some governments when the money that is created is worth more than the production cost. The revenue is commonly used by governments to finance some of their expenditures instead of collecting taxes. For example, if it costs the U.S. government 5 cents to produce a $1 bill, the seigniorage is 95 cents, or the difference between the two amounts.

    In order for minted money to continue circulating as money, there must be some seigniorage. Otherwise, the coins would be taken out of circulation and melted down for the metal.

     

    Coin Production Costs

    For the fiscal year ending September 30, 2014, the costs for producing each of the current four circulating coin denominations showed declines compared to the previous year. Those declines Seigniorage american-coinage-currencywere driven by higher production, decreased metal costs for certain denominations and a reduction in manufacturing costs.

    In 2014, the cost to produce a cent was 1.66 cents, down from the 1.83 cents it cost to produce it the previous year.

    The cost to produce a nickel was 8.09 cents, down from 9.41 cents in 2013.

    The cost to produce a dime in 2014 was 3.91 cents in comparison to 2013 when it cost 4.56 cents.

    It cost 8.95 cents in 2014 to produce a quarter, down from 10.5 cents the previous year.

     

    Does the Government Profit?

    During the 2014 fiscal year, seigniorage per dollar issued was 37 cents above the performance target of 24 cents.

    Though the cent generated negative seigniorage of $55 million and Seigniorage printing-american-currencythe nickel generated negative seigniorage of $49.5 million in 2014, the negative amounts were more than offset by the positive seigniorage from the other denominations.

    Across all denominations and including the impact from mutilated coins, the US Mint generated $289.1 million in positive seigniorage from circulating coinage. This was more than double the prior year total of $137.4 million. As an example, you can see some of our US Mint coins for sale, whose prices are certainly higher than the their respective costs to the Government.

     

    Commemorative Coins Profitability

    Commemorative coins have traditionally been in high demand with collectors. Often the mint date alone makes a commemorative coin valuable. Collecting commemoratives is a step up from collecting coins from circulation at face value or buying them at shops or shows for a few dollars each.

    One of the most profitable commemorative coins is the 1915-S Pan Pacific $50 gold round which is valued at between $50,000 and $150,000 in mint state.

    An uncirculated 1997 Jackie Robinson $5 gold commemorative, with a total mintage of 5,174 pieces, is listed with the PCGS Price Guide as being worth $3,5000 if in MS69 condition and $6,000 in MS70.

    Seigniorage electronic-digital-moneyThe 2014 First Spouse bronze medal set, released October 23, 2014, was recently declared sold-out, making the set the fastest sell-out ever. With an issue price of $16.95 it is now fetching $200 in e-Bay auctions.

    The electronic creation of money yields the greatest amount of seigniorage since any amount of money can be created electronically at almost no cost.

    Printing physical currency that is durable and hard to fake or copy necessarily costs more than creating electronic currency. It costs 6 cents to print each United States (US) Federal Reserve note, regardless of its denomination.

    In the U.S. electronic currency has fast outpaced the use of physical currency. However, globally, there is still a large demand for paper currency, particularly in third world countries that don't have the technology to to manage or distribute electronic currency.

Learn more in our BASICS OF BUYING area, or START SHOPPING »