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What do you know about American Buffalo Gold Bullion Coin?

The official United States Mint American Buffalo Gold Bullion Coin

buffalo1234Production of these highly anticipated coins is authorized by Public Law 109-145, dated December 22, 2005, also known as the Presidential $1 Coin Act. The new American Buffalo Gold coin’s obverse and reverse designs feature images originally prepared by noted American sculptor James Earle Fraser, once a student of Augustus Saint-Gaudens, for America’s 5-cent coin (nickel). That popular coin, known as the Indian Head, or Buffalo, nickel was introduced in 1913 and showcases the native beauty of the American West. The Native American depiction on the coin’s obverse is believed to be based on three different Indian chiefs – two of whom were named by the designer as Chief Iron Tail and Chief Two Moons – who modeled for Fraser as he sculpted its design. Conflicting statements exist on the third Indian as being either Chief John Big Tree of the Onondaga tribe, or John Two Guns, son of White Calf.

Here’s concise information:

  • It is widely believed that the bison on the coin’s reverse was modeled after “Black Diamond,” a popular attraction at the New York Zoological Gardens.
  • In the first year of the coin’s issuance, 1913, there were two distinct varieties, the first showing the bison on a mound and the second with the base redesigned to a thinner, straight line. American Buffalo Gold Coins bear the original Fraser Type I design.
  • American Buffalo Gold Bullion Coins are the first .9999 fine 24-karat gold coins ever struck by the United States Mint.
  • The Presidential One Dollar Coin Act of 2005 authorizes the Secretary of the Treasury to strike one ounce, .9999 fine gold bullion coins.
  • The designs are based on the original 1913, Type I Buffalo nickel, as designed by James Earle Fraser.
  • The obverse features a profile representation of a Native American.
  • The reverse features an American Buffalo (also known as Bison).
  • Diameters of the various issues will be exactly the same as the Eagles, but of course each Buffalo will be slightly thinner as it lacks the extra bulk of alloy present in the Eagles. The American gold Eagle program will continue to be struck, as it has since 1986, in all four sizes of .917 fine gold.
  • Packaging for the new gold Buffaloes will consist of each coin sealed in a Mylar-like plastic sheet, configured 4 rows of 5 coins each. These 20-coin sheets will come from the Mint in boxes of 500 1-ounce coins per box.

You can always bring your American Buffalo Bullion Coins or any gold/silver coins to any of our locations and exchange them for instant cash.

 

Posted by Maksud Temirov – Gold Rush Baltimore.

Don’t be cheated: Learn how to sell the genuine gold jewelry

Sell gold bracelets

Gold buyers like us normally go by weight

Selling gold is an area where you are likely to find a lot of cheats, so go into it with your eyes wide open. Before you take gold jewelry anywhere, bone up on the current price for gold—check on the Internet or in the newspaper. This shows the buyer that you aren’t totally clueless, and you’ll be less likely to get cheated. Gold is priced per troy ounce, a measurement slightly different from regular ounces. Make your own ballpark estimate before trying to sell.

Here’s how.

  • Examine the karat mark of your jewelry items and divide into piles. Most will be 10k, 14k, or 18k. If it isn’t marked, it is probably gold plated or gold wash and worth next to nothing.
  • Weigh each group separately on a postal scale to determine number of ounces.
  • Convert ounces into troy ounces using an online converter or do it yourself by multiplying regular ounces by .912. (Gold prices are quoted in troy ounces.)
  • Deduct a percent for the part that isn’t gold. 10 karat is 41% gold, so you’d deduct 59%. 12 karat is 50% gold. 14 karat is 58% gold. 18 karat is 75% gold, and the highest you are likely to see in America. 22 karat is 91% gold. 24 karat is pure gold. So 20 troy ounces of 12 karat gold equals 10 troy ounces of pure gold. Why don’t you see much 22 or 24 k gold in America? Because it’s too soft to make good jewelry. A neck chain of 24 k gold would pull apart with minimal effort.
  • Multiply by the current troy ounce price.

That is what your gold is worth at retail, but of course you will not get that much for it. You are selling at wholesale – the buyer will sell at retail. Many dealers will offer you half the retail value. Shop around to get the best price. Reputable gold buyers should pay 70% or maybe 80% of the retail value. Knowing approximately what that is will protect you.

Yes, there are pawnshops, online buyers, mail order schemes, and fly-by-nights who breeze into town and set up shop in a hotel room, but your best bet by far is a reputable, local jewelry store or coin dealer that buys gold and silver and sticks around for his reputation to matter. Let the buyer know up front that you are going to get two or three offers before selling and hold to that plan.

Gold-looking jewelry made in the twentieth century is sometimes marked GF for gold-filled, a deceptive term that means a very thin layer of gold over base metal. Watch out for 14k GF, which sounds better but is still just a thin, thin, thin coat of gold. It is worthless as gold, but it may have value as costume jewelry or vintage jewelry.

 

Shared by Gold Rush Baltimore (Maksud Temirov)

Source: stuffafterdeath.wordpress.com

A Funny Story About $20 Gold Coins

maple coin

Maple Leaf 1 oz Coin

We came back from Vancouver with two $20 gold pieces in our pocket. Actually, the idea came from Jim Rogers, who gave us one. We bought another to give to Henry for his 18th birthday.

“Hey…what’s this?” Henry wanted to know.

“It’s a gold coin… A Canadian maple leaf…”

“Oh…is it worth anything? It says it’s worth $20…kind of a measly birthday present, wouldn’t you say, Dad?”

“Well, it’s worth a lot more than that. It’s gold. An ounce of gold…”

“What’s that worth? Two hundred dollars?”

“A lot more than that…”

“But it says it’s worth $20. I guess at one time it was worth $20…”

“Yep.”

“Can you still use these for money? I mean, can you go into a shop in Canada and pay for things?”

“Well, maybe, but I don’t think it would be a good idea…”

“Or maybe you can say to your boss that you want to be paid in these coins? And then, when the IRS asks you how much you made, you can say $20?”

“I don’t know Henry, but I think that’s the sort of thing that people go to jail for.”

“Well, it’s their fault the coin is worth more than $20, isn’t it? You should be able to use it as $20. I mean, what’s going on, anyway? Something funny about this…”

“Oh Henry…this is a very long story…but you’re right. It’s very funny.”

 

Source: The Daily Reckoning Australia

Customer and Store Manager Perform a Dance

Music is a universal language for humans. It brings everyone together, no matter what race, culture or religion they belong to. There are no barriers because the music does the talking for us. It is something that everyone can relate to in regards to the different genres of music. Music can bring about peace, create friendships and do wonderful things for people. It’s true that you cannot have a conversation using music but you connect with people on such a high level that sometimes words cannot even take you to that place of connection. Similarly, a talented customer and the store manager of our Belair road location have recently performed such a wonderful dance to an Uzbek song. Attached here is an excerpt from their fun performance. Dance and stay warm through this cold weather! Click here to watch the footage: Uzbek-American Dance at Gold Rush