Buying and selling precious metals (gold) to become illegal

[Craig234]

Here's what they are talking about (from Forex's website).




Hopefully this shakes out a lot of the BS In the market.

So, this sounds like something good in the bill.

The other question was, is it finally time to short gold?

 

[Darwin333]

Even in a SHTF scenario would you rather have gold coins or US dollars?
I'll take the gold coins any day.

I prefer lead and copper for my metals in SHTF scenarios. Between that and my fuel I can get all the gold I want.

Someone actually traded me a gold ring for 2 gallons of gas after Katrina. I didn't want to part with the gas at all but it was a rather nice ring.

 

[Trianon]

well, isn't that an interesting development:

All those who have been long awaiting the release of the 2011 American Eagle Silver coins by the US Mint can now relax. America's official source of bullion will release the much anticipated 2011 edition tomorrow at noon, with a strict limit of 100 coins per household at the low, low price of...$59.95! Gotta love that physical-paper spread... It is almost as good as the gold-tungsten compression pair trade.

2011 American Eagle Silver Proof Coins Available June 30

WASHINGTON - The United States Mint will open sales for the 2011 American Eagle Silver Proof Coin at noon Eastern Time (ET) on June 30, 2011. The coins will be priced at $59.95 each. Orders will be limited to 100 units per household.

The obverse (heads side) of the coin features a rendition of Adolph A. Weinman's Lady Liberty in full stride, with her right hand extended and branches of laurel and oak in her left. The reverse (tails side), by former United States Mint Chief Engraver John Mercanti, features a heraldic eagle with shield, an olive branch in the right talon and arrows in the left.

The American Eagle Silver Proof Coin contains .999 silver. The one-ounce coin is struck on specially burnished blanks and carries the "W" mint mark, indicating its production at the United States Mint at West Point. Each coin is encapsulated in protective plastic and placed in a blue presentation case with a Certificate of Authenticity.

Orders will be accepted at http://www.usmint.gov/catalog/ or at 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT. The American Eagle Silver Proof Coin is also available for purchase through the United States Mint's Online Subscription Program. Customers who enroll in the program can have the American Eagle Silver Proof Coin and other select products automatically billed and shipped as each product becomes available. Visit http://www.usmint.gov/catalog/ for more information about this convenient shopping method.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Note: To ensure that all members of the public have fair and equal access to United States Mint products, orders placed prior to the official on-sale date and time of June 30 2011, at noon ET shall not be deemed accepted by the United States Mint and will not be honored. For more information, please review the United States Mint's Frequently Asked Questions, Answer ID #175.

and yet banks/analysts are saying silver is overvalued/bubble, trading at $35/oz?

 

[JTsyo]

well, isn't that an interesting development:



and yet banks/analysts are saying silver is overvalued/bubble, trading at $35/oz?

What's the face value of these coins?

 

[Trianon]

What's the face value of these coins?

$1 silver Eagles

http://www.govmint.com/itemd.asp?It...e|6491763047&gclid=CJjQ4eHs26kCFRAq7AodphJuXw

 

[matt0611]

well, isn't that an interesting development:



and yet banks/analysts are saying silver is overvalued/bubble, trading at $35/oz?

Those are proof coins, they always sell at a really high price. I remember when silver was at $7 they sold at about $30.

Bullion 2011 silver eagles can be found for around $39 or so.

 

[WHAMPOM]

Have you guys heard about this? It seems to be all a buzz around the tin foil hat blogs.

http://goldsilver.com/news/trading-...nd-silver-to-be-prohibited-beginning-july-15/

Is this legit? Ive got a relative who is into hording precious metals for the "end of the world" If they really do make it illegal, id say thats a pretty good sign to go out and buy some guns and ammo.

what do you guys think?

The precious metals bubble is going to burst and the speculators "Big Boys" want a buying panic to make out $BIG$. Sigh!

 

[Martin]

My company offers a trading platform and we have to change it to conform to the regulations.

They are not banning the sale or trading of gold or silver, you simply cannot trade it on leverage any longer. The reason is that these instruments have pretty big daily price swings and trading on leverage will cause margin calls or massive losses very very quickly.

 

[soulcougher73]

Guns > Gold. Gold wont protect you from me shooting you and taking it

 

[Trianon]

Those are proof coins, they always sell at a really high price. I remember when silver was at $7 they sold at about $30.

Bullion 2011 silver eagles can be found for around $39 or so.

Interesting, didn't consider that option, thanks.

The Silver Proof vs.The Silver Bullion American Eagle
Trying to distinguish the difference between the silver proof and the silver bullion version of the American Eagle? There are a number of differences in the two coins which affect its appearance, value, and purpose. To decipher all differences, read this quick guide.


•The Silver Bullion American Eagle is a bullion coin, authorized by Congress. The primary purpose of this coin is for investors to add a physical amount of silver to their portfolios.
•Silver Bullion coins are not available to the general public through the U.S. Mint. Instead, the U.S. Mint authorizes a select number of dealers to purchase the Silver Bullion coins.
•The Silver Proof American Eagle is also a bullion coin, but it is intended for collectors to hold onto rather than as an investment piece.
•You can only obtain the Silver Proof version in a one ounce version, while the Silver Bullion version comes available as a one ounce, half ounce, quarter ounce, and one-tenth ounce piece.
•The Silver Proof goes through a minting process which gives it a full strike appearance and brillance.

 

[matt0611]

Guns > Gold. Gold wont protect you from me shooting you and taking it

Again, there's only so many guns that you need or that are reasonable to store.
Having guns are a good idea, but I'm not going to store all my wealth in guns and ammo.

 

[matt0611]

Interesting, didn't consider that option, thanks.

Yeah, don't buy proofs unless you want to collect.
If you just want to buy silver then buy bullion.

 

[AyashiKaibutsu]

Yes this is real, and you should buy as much gold as possible now! Get in on the great deals for coins now before they become illegal!

 

[matt0611]

Yes this is real, and you should buy as much gold as possible now! Get in on the great deals for coins now before they become illegal!

Hey it happened before, you never know

 

[xj0hnx]

Again, there's only so many guns that you need or that are reasonable to store.
Having guns are a good idea, but I'm not going to store all my wealth in guns and ammo.

Firearms are actually a really good investment, especially Class III firearms. A cheapie MAC10 starts around $3,500, AK, M16's, HK sear packs and others start in $10,000 range and go up from there. Since the '86 FOPA there has been a finite supply of civilian transferable machine guns, and their value has held pretty good. So you've got good investment potential, and if the shit hits the fan you're sitting on some good hardware for the zombie apocalypse.