Buy Gold Bullion | Merit <b>Gold</b> & Silver No Longer Accepting <b>Bullion</b> Orders - CoinWeek <b>...</b> | News2Gold |
- Merit <b>Gold</b> & Silver No Longer Accepting <b>Bullion</b> Orders - CoinWeek <b>...</b>
- <b>Gold</b> Up Week, US Mint <b>Bullion</b> Sales Soar | Coin News
- At MoneyNews: US Mint's Precious Metal <b>Bullion</b> Sales Slips <b>...</b>
- What? I Have to PAY to Borrow <b>Gold</b>? | <b>Gold</b> News - BullionVault
- <b>Gold Bullion</b> Exchange Review and My Recommendation
| Merit <b>Gold</b> & Silver No Longer Accepting <b>Bullion</b> Orders - CoinWeek <b>...</b> Posted: 08 Aug 2014 07:48 PM PDT by Hubert Walker …………
There is no explanation on the website why the company has stopped taking orders. Customers are urged to call for details. A 1-800 number is prominently displayed in the upper right corner.
Returning to the website, no such product listing can be found, however there is a pop-up advertising Britannia coins made from silver recovered from the wreckage of the SS Gairsoppa. The only content on each product category page is a statement saying that Merit Gold is accepting limited precious metals orders as of August 6 and to call for more details. The associate did not say who was assuming new ownership.  Peter Epstein and Mike Getlin are the two principles of Merit A check of the company's social media reveals no additional information. Merit Gold's Facebook account is still active, but compared to the content and frequency of posts from the end of July and early August, activity has slowed. The last tweet from Merit Gold's twitter account is dated August 4. At least one person claiming to be a customer posted to the company's Facebook timeline on August 7 to ask about the "shutdown". The customer stated that they had had good experiences buying from the dealership and express their surprise at this "sudden" turn of events. Earlier this year, on February 13, the Santa Monica City Attorney's Office filed a consumer protection lawsuit against Seacoast Coin, Inc., which does business as Merit Gold and Silver. The privately-held company is headed by Peter M. Epstein and Michael J. Getlin. CoinWeek will continue to follow this story as it develops.  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| <b>Gold</b> Up Week, US Mint <b>Bullion</b> Sales Soar | Coin News Posted: 09 Aug 2014 10:09 AM PDT  Precious metals split this week. Sales raced for United States Mint bullion coins. Gold eased Friday after two straight days of gains but prices still closed 1.3% higher on the week. Silver, however, fell 2.1% from a week ago. In united strength, physical demand for both gold and silver surged. United States Mint weekly bullion sales were the highest in three months for silver coins and the best in six weeks for gold coins. More about that later… Returning to precious metals, gold for December delivery edged down $1.50, or 0.1%, to settle at $1,311 an ounce on the Comex division of the New York Mercantile Exchange. Declines were attributed to easing tension in Ukraine, despite the onset of U.S. airstrikes in Iraq.
Gold's big turnaround happened on Wednesday when it closed higher for the first time since a week ago, soaring 1.8% on safe-haven demand. Gold prices have advanced $108.70, or 9%, since ending 2013 at $1,202.30 an ounce. Gold Outlook Participants in the latest Kitco News survey are bullish about gold prices next week. Eighteen expect prices to rise, 6 see prices lower, and 3 see prices trading sideways are neutral.
Kitco gold survey results last week were mixed with a bearish lean. Expectation splits then totaled 12 down, 8 up, and 4 sideways or unchanged. Silver, Platinum and Palladium FuturesSilver was hammered with a 43 cent loss this week, and prices have declined in six of the last seven sessions. On Friday, silver futures for September delivery shed 5 cents, or 0.3%, to close at $19.94 an ounce. Recent losses have cut into silver's gains for the year, which are now down to 2.9%. In other precious metals on Friday and for the week:
For the year to date, platinum is ahead by 7.9% and palladium is up by 19.8%. London Fix Precious MetalsLondon precious metals turned higher on Friday and were mixed on the week. When comparing the London bullion fix prices from Thursday PM to Friday PM:
Gold and platinum fixings ended up on the week by 1.4% and 0.9%. Weekly losses for silver and palladium totaled 1% and 1.6%. US Mint Bullion Sales in AugustU.S. Mint bullion sales this week compared to last were nearly eleven times higher for gold coins and almost three times higher for silver coins. More telling to demand, silver coin sales are the highest since the week ended May 9 and gold coin sales are the highest since the week ended June 27. In the latest week-over-week comparisons:
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Friday, last week, this week, last month, the month so far, and the year to date.
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| At MoneyNews: US Mint's Precious Metal <b>Bullion</b> Sales Slips <b>...</b> Posted: 01 Aug 2014 08:56 AM PDT  US Mint's Precious Metal Bullion Sales Slips By Ed Moy A reliable indicator of gold, silver and platinum demand in the United States is the sales of precious metal bullion coins of the U.S. Mint. Sales are indicating slowly diminishing interest by investors in the United States. Started in 1986, the American Eagle gold bullion coins have become the world's top 22 karat gold bullion coin, with an astounding 20.4 million ounces sold. Sales skyrocketed from 198,000 in 2007 to 1.4 million ounces in 2009. Since then, sales have been in steady decline: 1.2 million in 2010, 1 million in 2011, 753,000 in 2012 and a slight uptick to 856,500 in 2013. In 2014, in spite of strong January sales, it looks like the year will end somewhere between 450,000 and 600,000 ounces, barring a spike in inflation or escalation of geopolitical risk with global economic ramifications. American Eagle silver bullion coins sales started at the same time as gold. They also dominate the global market for silver bullion coins, with a mindboggling 383.6 million ounces sold. Sales almost doubled from 9.9 million ounces in 2007 to 19.5 million ounces in 2008. Usually silver and gold bullion sales track closely together. But instead of declining in 2010 like gold sales did, silver sales steadily increased to a historic record of 42.7 million in 2013. In 2014, sales started red hot and have slowed somewhat, but are on target for equaling the record set last year. The American Eagle platinum bullion coin program started in 1997. While platinum bullion is much less popular worldwide than gold or silver are, the U.S. Mint-made coins started off strong, with 175,650 ounces sold in 1998. Demand dwindled to 20,000 ounces a year on average and was discontinued from 2009 through 2013. The program resumed in 2014 to lackluster sales. Finally, the newest bullion coin program is the America the Beautiful 5 ounce silver bullion coin. Started in 2010 as a companion to the America the Beautiful quarter program, these coins weigh in at a hefty 5 ounces. The coins have sold modestly and primarily to the collectors market because these large coins are unusual in a bullion market used to 1-ounce coins. After a big second year in 2011, when 465,100 ounces were sold, sales have stayed in the 150,000 ounces range each year. There are several takeaways for today's investor. First, the U.S. Mint's sales supplement the existing bullion market. That there are sales each year indicates that the existing number of bullion coins is not sufficient to meet demand. Second, the United States is the world's largest market for bullion coins and American's preference is for U.S. Mint products. However, the largest market for gold is China, closely followed by India. When the West buys physical gold, it buys government-made bullion coins because they want the government guarantee of content and quality and are willing to pay the cost of manufacturing above melt value to get it. When the East buys physical gold, it buys jewelry because they want to buy as much gold as possible, which means as close to the spot price of gold as possible. An exception is China, which encourages gold ownership and the purchase of the Panda (the government-made gold bullion coin and the only bullion coin allowed to be sold in China). Third, American Eagle gold bullion coin sales may be less than half of their peak volume, but that is still be between two and three times more than the pre-crisis volume. Sales have diminished from its peak but still are strong. Fourth, American Eagle silver bullion coin sales are increasing, not decreasing. Because of the lower cost of silver, it is more popular with individual investors than with institutional investors. And the most popular way for individual American investors to invest in physical silver is to buy silver bullion coins made by the U.S. Mint. Fifth, while the American Eagle platinum bullion coins are popular, the platinum bullion market is very small. Severely reduced supply from African mines due to strikes and the risk of supply manipulation from Russia due to the conflict with Ukraine both contributed to a sharp rise in platinum prices. But that did not result in a sharp rise in platinum bullion coin sales. The U.S. Mint is the world's largest manufacturer of bullion, circulating and collector's coins. Because it dominates the market, its sales of bullion coins can give the investor insight if they know what to look for. Right now, sales are indicating that U.S. individual investors' interest is slowly cooling off from crisis highs, but there is still much more interest than there is in a normal period. Of course, that could all change with the next crisis. Originally published at MoneyNews.com. Tags: Gold Categorised in: News | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What? I Have to PAY to Borrow <b>Gold</b>? | <b>Gold</b> News - BullionVault Posted: 10 Jul 2013 11:50 AM PDT Borrowing gold to sell it hurt prices in the late 1990s. Right now it's helping support... The GOLD & SILVER markets can look odd places to outsiders, writes Adrian Ash at BullionVault. This year's price drop has been so aggressive, it's only making them odder. Take the market for borrowing gold, for instance. Few people understand the difference between leasing and forward swaps. Nor should they care, not as a rule. Even if you really haven't got anything better to worry about, the two forms of gold borrowing look very similar at first glance. Lending gold for a rate of interest amounts pretty much, overall, to swapping it for the current cash value, and agreeing a date in the future to swap back. More urgently, the returns to large gold owners offered by either leasing or swapping large quantities of bullion have both jumped sharply this month. But these two markets are not identical. As our man in New York, Miguel Perez-Santalla, explained last month, in gold leasing there is a lender and a borrower of metal. And as you'd expect, the borrower pays the lender a rate of interest. It's always positive to the lender, because it's an unsecured loan. So the rate of interest depends on the borrower's credit-worthiness. Simple. Gold swaps, on the other hand, are where the gold lender pays the borrower a rate of interest. Seriously. But again it is simple. Kinda. Because storing physical bullion safely isn't cost-free (even if it is very cheap). Gold owners also miss out on the interest rate which holding cash instead would provide. So if someone wants to swap your gold for its cash value today, and swap back sometime in the future, they will then bear those two costs – storage fees and lost interest – in the meantime. So they might reasonably expect you to pay them to take it away. And that's what the big bullion banks usually do. You can see the Gold Forward Offered Rate on the website of the London Bullion Market Association, which collates data from its biggest members. Look down to this week's figures, however, and you'll see it has gone negative on gold swaps lasting as long as 6 months. The gold owner, in other words, now wants to receive a rate of interest – rather than paying it – as well as getting the full cash value, which will be swapped back at the end of the term. In the meantime, the owner will have earned interest on that cash (see the LBMA's middle columns, which are only updated a week late), plus the newly positive rate of interest on the gold itself (the first set of columns, where rates are now, umm, negative because they're positive) to get a rising return as shown in the third set of columns (again updated a week late). Confused? You're not alone. Bloggers across the web get this stuff wrong all the time. But the reason this new switch has happened, with offered rates going negative (ie, positive for the gold lender in a swap) is two-fold. First, gold demand out of Asia has risen dramatically as the price has sunk. Canny consumers who shied away at $1500 and $1600 per ounce are now emptying coin and trinket shops in Hong Kong and mainland China, paying $40 per ounce or more above the world's London benchmark price of $1250 or so. These retail units typically start life as large, wholesale Good Delivery bars, and so need smelting, re-refining and recasting into smaller kilobars (investors in China prefer 0.9999 purity to the standard 0.995). That all adds friction to the logistics chain. Manufacturers are anxious not to miss this pop in demand thanks to delayed delivery, so some are borrowing gold as well as buying it. Second, hedge funds and other speculators got busy "shorting" gold to profit from its price drop. The primary route has been the US gold futures market, where the number of bearish bets held by non-industry players has surged to record levels week after week since March. Demand for borrowing gold in swaps and leases has surged too in the physical wholesale market. Because big traders want to borrow gold, sell it now, invest the cash elsewhere, and then repay it with much cheaper gold in future. The same happens in every other financial market. But shorting gold is now so popular, that large gold owners willing to help suddenly have the whip hand, or something like it. Which is a rare event. Negative gold offered rates were last seen during the Lehman's crisis, when all markets froze, and just before gold found its floor and turned very much higher, very much faster than anything else. Before that, you have to go back to 1999, pretty much when the bull market began. As the 20th century gasped its last, the gold mining industry was heavily short gold, having sold a big chunk of its future production for fear of ever-falling prices. Central banks in Europe took the role of lender, trying to earn a yield from their "legacy gold" stockpiles, built up during the long death of the Gold Standard monetary system of a century before. The initial trade only pushed gold lower again, as the miners sold the metal they borrowed. Unwinding the miners' leases and forward sales as prices then rose only drove prices up faster again. Back to 2013, and who are today's gold lenders? Large investment houses stepped in at the peak of the financial crisis, ready to lend their big gold holdings as stockpiles swelled and prices soared. Back in 2011, however, few people wanted to take the other side of the trade. Borrowing gold when the price was hitting new all-time highs looked a mug's game, leaving those would-be lenders with no one to lend to. You can see that loss of gold-borrowing demand, and the excess supply, in the overall rate of return offered to big gold owners, aka the derived gold lease rate, also known as LIBOR minus GOFO:
Now that prices are down, gold borrowing is de rigueur again. But many of those would-be lenders have quit their positions. Gross bullion sales from Western investment hoards perhaps totalled 1,000 tonnes in the last four months alone. That leaves the leasing and swaps markets with fewer would-be sources of metal. Which gives those institutions able to answer the borrowers' call a better chance at turning a profit, or something like it. The current pop in gold lease and offered forward rates is likely playing a big role in nudging the gold price higher right now. Because there's something of a scramble to borrow gold. Yes, it's small right now judging from the uptick in returns to large lenders of gold. But the fact this uptick comes as cash interest rates are also rising points to the size of this year's short-selling by large speculators, plus the demand for physical metal from Asia. Annualized rates on 3-month swaps now offer 0.34% to the gold lender. Three-month lease rates are up at 2.5% annualized according to Mitsui data today. What if the mining industry joins the quiet cue for borrowing metal? This year's crash looks a lot like the late 1990s' horror-show, after all. Perhaps one-third of world output is now at break-even or worse according to new London consultancy Metals Focus. So a return to gold miner hedging is a clear risk for the market. But with Western investment holdings well down from their peak, and central banks now buying net-net – thanks to Europe sitting pat, and the emerging giants slowly increasing their hoards – who's going to play lender? | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| <b>Gold Bullion</b> Exchange Review and My Recommendation Posted: 03 Aug 2014 10:21 AM PDT The process of buying and investing one's assets in gold is not your run-of-the-mill type of transaction. Clients are exposed to an investment product that is more specialized than your standard deposit account and less common than the purchase of currency. It is therefore important that they partner with a company that not only provides efficient service, competitive pricing, and up to date information, but a company that has credibility. Gold Bullion Exchange Analysis and Recommendation:Gold Bullion Exchange has a number of news articles on its website which keep the readers abreast on what is happening in the gold market. On the site, one can also find testimonials from satisfied customers, praising the reliability of service provided by Gold Bullion Exchange. The company says it is an active member of ICTA (Industry Council on Tangible Assets) and ANA (American Numismatic Association). These organizations help to protect the rights both of those who have businesses in various currencies, as well as the public who invests in these products. I Flew 2400 Miles Across The Country Before I Would Recommend This Precious Metals Dealer To You And Here's Why If you are looking for a company to help you with investing your retirement or even if you are looking to directly buy precious metals - please read this special report that I recently published. I talk about what they provide, rates, storage fees and why I chose to fly 2400 miles across the country from Florida to California to investigate this company.Click to read the rest of this special report However, beyond this, not much additional information is available on the site about the company and the faces behind it. Further searches on Gold Bullion Exchange yielded little more material than the reviews available on the site. And although there are no negative reviews on the internet about Gold Bullion Exchange, the lack of overall information would make one think twice before trusting this company with their transactions. Ratings, Press and Credentials Better Business Bureau: A- This Business is not BBB Accredited Websites such as Council of Better Business Bureaus (BBB), Business Consumer Alliance (BCA) and TrustLink have little to add to what we already know from the company's webpage. Gold Bullion Exchange is a dealer of gold, silver and platinum. It was incorporated in 2012 in California. Business Consumer Alliance Rating: AA It has about 2-10 employees. TrustLink gave Gold Bullion Exchange a rating of 5 stars, based on one review on its website. Business Consumer Alliance (BCA) gave the company an AA rating, and Better Business Bureaus (BBB) rated it A-. Both ratings are the second highest on each organization's scale. Truslink One factor BBB cited for the high rating was that no complaints were filed. However, a factor that lowered the rating for Gold Bullion Exchange had to do with the length of time the business has been operating. One other thing is that although BBB gave the business an outstanding rating, Gold Bullion Exchange is not BBB accredited. The BBB site clarifies that businesses are not obligated to seek accreditation, and some are not accredited simply because they have not sought it. This sort of certification though would have helped build the company's credibility to the public. There is indeed lack of negative feedback and complaints regarding the business. But there would also seem to be a lack of overall information. Because Gold Bullion Exchange is a young company with few employees, little is known about its history and track record save for the testimonials on the website. If one is to do business with a company that offers these investment products, it may help to know more about the company in question, or perhaps deal with one that has a more extensive history and track record.  Which Company Do We Recommend?If you are looking for a reputable gold IRA custodian you should check out the only company I recommend you buy from. This provider received excellent ratings, credentials and reviews from a good number of organizations, respected publications and websites. These are proudly displayed on their front page as well. The credentials and ratings that they received are as follows: About Gold Bullion ExchangeBBB Rating: A- | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Visitors to the website of 
When called and asked about the declaration, an associate said that the company is beginning a transfer of ownership, and that the sale of bullion is prohibited while this process takes place. The associate also said that the dealership is still allowed to sell what it currently has in stock. As of August 8, inventory consisted of three silver Lunar Britannia coins, according to the associate.
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2 Comment for "Buy Gold Bullion | Merit Gold & Silver No Longer Accepting Bullion Orders - CoinWeek ... | News2Gold"
I was unaware with the fact that Gold coin sales jumped 16,000 ounces after limping in at 1,500 ounces last week.
There are loads of companies now getting on the gold wave and selling gold ira's and bullion as part of a retirement plan. It would be interesting to know who you recommend for this as some of the reviews seem very biased.