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Chex
03-01-15, 03:22 PM
U.S. Mint American Eagle gold coin sales tumble in February. http://finance.yahoo.com/news/u-mint-american-eagle-gold-212721074.html

Below are year-to-date coin sales (all figures in ounces):

Gold Silver 2015 2014 2015 2014

January 81,000 91,500 5,530,000 4,775,000
February 18,500 31,000 3,022,000 3,750,000
March 21,000 5,354,000
April 38,500 3,569,000
May 35,500 3,988,500
June 48,500 2,692,000
July 30,000 1,975,000
August 25,000 2,087,500
September 58,000 4,140,000
October 67,500 5,790,000
November 60,000 3,426,000

Considered a precious metal due to certain properties and characteristics, gold has been employed as currency since the ancient times.

However, because pure gold is too soft to be used for any length of time without deforming, it has to be alloyed with other metals to harden it before it can be circulated as currency.

The practice of alloying gold with other metals for the use of currency has existed since before the Christian Era, with the practice continuing until much of the latter part of the 19th century, and with occasional mention in this, the 21st century.

Of the noted alloys of gold that have been used for currency, crown gold remains, to this day, one of the still circulated gold-alloys used as legal tender.

Though it may sound like gold expressly meant to make crowns out of, crown gold is actually a special alloy of gold made expressly for the production of gold coins.

The name ‘crown gold’ came about due to the fact that it was the alloy of choice for minting crowns or British crowns of the golden variety, originally worth five shillings, with a modern value of five pounds.

This was only applicable to silver crowns however, as golden ones were primarily considered bullion coins and thus was worth the amount of gold in it.

Crown gold is closely related to golden sovereigns, since, as a measurement of alloying, it became the standard for all gold coins issued, replacing the original gold sovereign which was deemed too soft for general and long-term circulation.

Crown gold is an alloy of gold and copper amounting to 22 karats, or 91.667% gold with the minute addition of copper.

Crown gold came about during the time of Henry VIII, where coin manufacture was regulated to change the original composition of the gold sovereign from its original 23 karats, to the current 22 karat gold composition.

This was partly due to the coin being too soft for constant use, often wearing off long before its time; However Henry VIII was infamous for 'debasing" the currency by melting down old coin, adding some base metal and creating more coins of the same face value form the same amount of gold. –

walter
03-02-15, 04:20 PM
U.S. Mint American Eagle gold coin sales tumble in February. http://finance.yahoo.com/news/u-mint-american-eagle-gold-212721074.html

Below are year-to-date coin sales (all figures in ounces):

Gold Silver 2015 2014 2015 2014

January 81,000 91,500 5,530,000 4,775,000
February 18,500 31,000 3,022,000 3,750,000
March 21,000 5,354,000
April 38,500 3,569,000
May 35,500 3,988,500
June 48,500 2,692,000
July 30,000 1,975,000
August 25,000 2,087,500
September 58,000 4,140,000
October 67,500 5,790,000
November 60,000 3,426,000

Considered a precious metal due to certain properties and characteristics, gold has been employed as currency since the ancient times.

However, because pure gold is too soft to be used for any length of time without deforming, it has to be alloyed with other metals to harden it before it can be circulated as currency.

The practice of alloying gold with other metals for the use of currency has existed since before the Christian Era, with the practice continuing until much of the latter part of the 19th century, and with occasional mention in this, the 21st century.

Of the noted alloys of gold that have been used for currency, crown gold remains, to this day, one of the still circulated gold-alloys used as legal tender.

Though it may sound like gold expressly meant to make crowns out of, crown gold is actually a special alloy of gold made expressly for the production of gold coins.

The name ‘crown gold’ came about due to the fact that it was the alloy of choice for minting crowns or British crowns of the golden variety, originally worth five shillings, with a modern value of five pounds.

This was only applicable to silver crowns however, as golden ones were primarily considered bullion coins and thus was worth the amount of gold in it.

Crown gold is closely related to golden sovereigns, since, as a measurement of alloying, it became the standard for all gold coins issued, replacing the original gold sovereign which was deemed too soft for general and long-term circulation.

Crown gold is an alloy of gold and copper amounting to 22 karats, or 91.667% gold with the minute addition of copper.

Crown gold came about during the time of Henry VIII, where coin manufacture was regulated to change the original composition of the gold sovereign from its original 23 karats, to the current 22 karat gold composition.

This was partly due to the coin being too soft for constant use, often wearing off long before its time; However Henry VIII was infamous for 'debasing" the currency by melting down old coin, adding some base metal and creating more coins of the same face value form the same amount of gold. –

makes it all taxable in today's standards.
Pure bullion (alloy free) cares no tax,
once pure bullion gets mixed with another metal the new alloy carry's tax.
why? i have no clue...but it is

Chex
03-02-15, 06:57 PM
What's Up walter, funny how this pass.....

At today’s gold price of $1,730/oz, Canada’s value of gold in reserves is approximately US $189,110,694.20 (189.11 Million). When we compare that with Canada’s money supply in circulation according to the Bank of Canada, we have the following;
• M1 (cash outside banks + chequing accounts) is $611.7 Billion. Here the value of gold reserves representes .03% of M1.
• M2 (M1 + Savings accounts + money markets) is $1.047 Trillion. Here the value of gold reserves representes .018% of M2.
• M3 (M2 + large time deposits, long term deposits) is $1.461 Trillion. Here the value of gold reserves representes .013% of M3.

What has happened to Canada’s gold reserves? http://www.economicreason.com/usdollarcollapse/is-the-canadian-dollar-backed-by-gold/

stoneFree
03-02-15, 07:38 PM
Pure bullion (alloy free) cares no tax,
once pure bullion gets mixed with another metal the new alloy carry's tax.Incorrect.

2308

Chex
03-03-15, 02:55 PM
RALEIGH, N.C. (AP) — Shortly after dusk along a lonely stretch of Interstate 95, armed robbers hijacked an armored truck, tied up the two guards and disappeared into the night with 275 pounds of gold bars.

The robbers then helped themselves to barrels filled with about $4.8 million in gold before making their getaway.

$4.8M in gold bars stolen in armored truck heist on highway. http://news.yahoo.com/4-million-gold-stolen-truck-north-carolina-171614803.html

One problem though. (http://biblehub.com/exodus/20-15.htm)

stoneFree
03-03-15, 03:18 PM
Here is the money quote...

"A spokeswoman for the FBI said agents are looking to figure out if a federal crime occurred." (http://www.wral.com/-4m-in-gold-reported-stolen-during-armed-robbery-along-i-95-in-wilson/14484323/)

Quite possibly it was not a theft of federal currency, but gold bars & silver rounds ... real money! Real money isn't federal!

walter
03-03-15, 04:41 PM
Incorrect.

2308



Precious metals are subject to tax as collectibles in the USA.
Except Texas

http://www.mineweb.com/archive/texas-eliminates-sales-tax-on-precious-metals-coins/

Sales Tax
http://www.buygoldbullion.com/online/tax-free/
Looks like state to state is different.

In Canada pure metal coins are tax free while alloys care the tax.
http://www.mint.ca/store/buy/tax-free_coins-cat710001

stoneFree
03-27-15, 04:55 PM
Are you a good debator?