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One twenty-fifth of an ounce coin? PDF Print E-mail

And you thought tenth ounce gold coins were small: the Royal Canadian Mint has responded recently to the rising price of gold by issuing tiny one-twenty-fifth of an ounce gold coins, with the Queen's head on the obverse, geese on the reverse and a nominal value of fifty cents: Royal Canadian Mint.

Surprisingly (to me) the tiny gold coin has received a lot of positive feedback, due to its high production value and fine details, though some purchasers are 'surprised by its size'. I suppose they mean its lack of size. I imagine collectors will be keeping the coin in its nice little case to avoid losing it too easily.

As another straw in the wind, this coin implies that the Royal Canadian Mint believes the price of gold will remain very high, and these will be a market for such coins, which are of course less frightening to buy in terms of dollars spent.


Gold dispensing machines doing brisk trade PDF Print E-mail

Outside of the gold collectors world which we inhabit, ordinary people remain puzzled by the attraction of gold bullion or gold coins, and are amused by the appearance of gold dispensing machines. These machines have been mentioned in our commentary before, and they are now being deployed in department stores and doing a brisk trade.

The machines update the price of gold they are dispensing every few minutes, and can issue encapsulated 'nuggets' in a range of sizes all the way from 1g up to 250g. The smaller sizes are often bought to be given as presents.

You can read a puzzled journalist's experience of using one of these machines in Berlin here.

Note the customer who didn't buy a nugget who commented that "things will need to get a lot worse before I start buying gold'...

Sir, it will be far too late then.

New consumers for gold PDF Print E-mail

A group of 600 million middle class consumers with disposable incomes, a national propensity to save their money, and driven by the (likely correct) belief that gold is the best hedge against inflation is about to become a big factor in the retail gold market.

Yes, Chinese are about to overtake Indians as the largest consumers of gold.

If you imagine this will keep driving the price of gold upwards, you are likely to be right.

It's not too late to build your bullion coin collection though: there won't be 600 million in the Chinese middle classes until 2015....

Read more here.

Selling your gold coins to a coin shop PDF Print E-mail

One of the useful things about online forums for coin collectors is that you can get information on how coin stores operate outside your local area.

A current thread on Kitco covers what coin shops are paying out for gold coins, in terms of percentage or flat rates over or under the current spot price of gold.

The thread shows that what a shop might offer for the same gold coin can vary dramatically, from 4% UNDER spot, to 1%, 1.5% or even more OVER spot.

While some collectors believe selling their coins online is the worst option, because of the postage costs, the thread linked above shows you can get 2.4% over spot from a well-known online dealer, which even with $15 extra for postage and insurance is a better deal than most physical coin stores will offer you. This is worth bearing in mind when you come to sell some or all of your gold.

2011 gold coin of the year PDF Print E-mail

The annual coin of the year awards run by Numismaster/Krause has selected the South African gold one ounce white rhino as its gold coin of 2011.

This spectacular coin is a worthy winner, but has only been issued in a very limited edition of 1500 (more for the quarter and tenth ounce sizes).

More details at the South African Mint.




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