Banks That Sell Gold

Frequently Asked Questions

1. QUESTION:
   if iwant to sell gold coins/buiscuts can i get the market price from banks?
   i want to sell gold coins/buiscuts bought over a period of time assuming that i can sell in the market ,but i understand that banks sell only gold coins and not buying from the public .i don't know why. what alternatives/options are open to me for selling pure gold.

   • ANSWER:
     if you are in India,selling gold coins, biscuits and pure gold, there is no problem in selling with consumer,jeweller,gold dealer instead banks.
     even i at delhi purchase coins in higher rate then their gold contents value.

2. QUESTION:
   How do I sell gold coins?
   I keep hearing that gold is a good investment. Banks sell gold coins. If I buy 1, where do I sell it later to get a profit? I want to buy & sell through safe secure channels like banks.

   • ANSWER:
     Generally Banks (which is very secure) do not buy back the gold.

     People are obliged to sell their gold to a jeweller.
     But the advantage is, when you buy gold from banks with a proper receipt and reports or its weight and purity you are almost certain to get the equivalent money even from the jewellers.

3. QUESTION:
   Where can I buy gold in the US?
   I want to buy a 1 oz gold bar or coin and I have read various answers in this matter that speak but banks selling gold however I can't seem to find them. Is there any DEPENDABLE store that can sell PURE gold. If So please tell me.

   Thanks in advance for all your answers.

   • ANSWER:
     Any large chain department store, the U.S. Mint, almost any jewelry store or pawn shop. Remember, save your receipts and, if possible, pay with a credit card. If there is a problem, the credit card company will help you recover your loss.

4. QUESTION:
   Where to buy and sell gold bars/ coins in Delhi?
   I want to buy gold bars or gold coins in Delhi. Some say that banks are selling it for higher price, so I guess I should opt for jeweller shop. Any idea, which jelweller shop can I trust? Also, how do I know if the gold bar is pure?

   Do I need a PAN card at the time of buying and selling gold bar from jeweley shop?

   Do I need to pay tax if at the time of selling gold bar? What if I got cash from buyer?

   • ANSWER:
     Banks may be offering a higher price but it's safe and prudent to buy gold from banks as the gold is pure and reliable and will certainly give you better returns whether or not you sell them back to bank or in open market... ICICI bank Gold is good.. Go for it

5. QUESTION:
   I cannot find any local or small banks or credit unions here in San Francisco that sell gold Kruggerands or an?
   I cannot find any local or small banks or credit unions here in San Francisco that sell gold Kruggerands or any gold coins. What gives? I want to save on dealer commission by buy my gold directly from a bank

   • ANSWER:
     Banks do not sell gold, and they are not precious metals dealers. That's what gives. They have checking/saving/CDs etc. In other words, bank stuff.
     For gold, go to kitco, the u.s. mint, or a coin dealer. You want physical gold, either pay the commission, or buy the GLD etf.

6. QUESTION:
   How could I sell my Swiss gold coins?
   I've got some Swiss francs that are solid gold and were issued by banks in switzerland - to sell them do I have to take them back to that bank or is there any other way of selling gold?
   Don't suggest doing one of the postal gold things off the telly please - this is serious gold worth a lot of money

   • ANSWER:
     I am guessing that what you have are the Swiss 20 Franc gold coins from the late 1800s up to 1947. Those are worth at least the value of the gold (which today is about US4). Nearly any coin shop will pay 90% of that. Pawn shops and jewelry stores generally pay somewhat less, and selling by mail is outright foolishness.
     If you have 10 Franc coins, those will go for about 20% more than bullion value. The 100 Franc coins are outright rare.

7. QUESTION:
   is there a possibility ,that the world's central banks will sell of all their gold reserves ?
   now that currencies are not backed up by gold

   • ANSWER:
     International trade imbalances are still accounted for by the exchange of gold bars known as "Good Delivery Bars". Just because currencies are not backed by gold doesn't detract from the value of gold in that gold is a form of currency in itself, but one that does not require a single government to enforce acceptance and authentication as acceptance is universal and authentication is by physical properties.

     The usual concerns that the public has about fiat currencies are misconceived. Fiat currency is about optimizing the economy for productivity not about the value of the money. You should read some of Ben Franklin's essays on the subject.

8. QUESTION:
   Where to sell gold coins bought from bank?
   Banks/Post offices don't buy back the gold coins that they sell, so if somebody wants to make money from the bought gold coins, where to approach?

   • ANSWER:
     Coin dealers will buy them. You are most likely not going to get the deal that you think you should get.

     Gold coins are usually a terrible investment.

9. QUESTION:
   How to invest in gold?
   Finance analysts recommend keeping up to 10% of ones assets in gold. Though gold is a safe investment option, its biggest problem is liquidity. Banks selling 24 carat gold coins are over prized and they do not buy them back. One may buy gold from open market and stock in bank lockers. But, if he goes to sell that at jewelers shop, it is sold at below prevailing rate.

   • ANSWER:
     Open up a brokerage account and buy GLD
     It is just that simple.
     Be careful, if the market starts picking up, and the economy recovering gold could drop back down, and drop down fast...

10. QUESTION:
    I want to sell some of my gold jewelry in Fort Worth, TX. Where is the best place to go?
    I want to earn some cash by selling some of my gold jewelry that I don't wear anymore. I heard that some people could go to some bank to sell their gold in Houston, TX area. Is there such a place in Fort Worth, too? The only place I found so far is the one on Hulen and it's not a bank. I want to go to safe place.. Any suggestion, please?

    • ANSWER:
      You should try shopping around to local jewelers first. If that doesn't work you can use an online gold buyer that pays very competitive prices, like this one: http://www.goldintomoney.com/company-reviews/business-is-booming-for-gold-buyers-like-cash4gold

11. QUESTION:
    If I melt down my gold scraps to gold bars who can I sell the bars to? Is there some sort of Gold Bank?
    I don't want to sell my gold to those gold for cash places/websites because I will only get a fraction of the gold's market value. If I melt down my own gold scrap to gold bars where can I sell the gold bars for Gold's true market value?

    Where or whom do modern day gold prospectors sell their gold to?

    Thanks.

    • ANSWER:
      Anybody who wants to buy your gold bars will have to assay them, heaven only knows what is mixed in with the gold. "White" gold is only 75% gold, for example, the rest is silver and copper. Best would be to find a cash place that will work with you and not charge you assay fees with every batch.

12. QUESTION:
    Why did Switzerland sell over half its national gold reserves?
    The Swiss National Bank sold over 1300 tonnes of gold between 2000 and 2005.
    After the event, the SNB justified itself, that the average price of CHF 16,230 per kilo (giving CHF 21.1 billion for 1300 tonnes) according to the perspective then, was perhaps a little low. However, with a decline in the gold price that view could have changed.
    They must be joking, today's gold price is over CHF 42,000 per kilo.
    Additional information:
    Probably not well known is that the people in charge of the Swiss National Bank are still quietly selling off Switzerland’s gold whenever they get the chance. http://www.gata.org/node/5168
    However, by 2007 it was becoming clear to many market observers that the USA and other leading Western countries were intent on over-printing their currencies and thereby inflating away their national and international debts.
    Also of note is the fact that Switzerland joined the IMF in 1992, which is now considered by David DeGraw as organisation intent on [carrying out and escalating systemic economic attacks throughout Europe and the US]. (See “The Road To World War III: The Global Banking Cartel Has One Card Left To Play” http://ampedstatus.com/the-road-to-world-war-iii-the-global-banking-cartel-has-one-card-left-to-play )
    The sales of Swiss gold must therefore be seen as something AGAINST the interests of the Swiss population. These sales can only serve large foreign

    • ANSWER:
      What I consider amusing is this:
      Switzerland made the same mistake that the UK made at that time when Prime Minister Brown sold off most of Britain’s gold but paid a heavy political price that continued to grow with the gold price as long as he was Prime Minister. (The rock bottom gold price resulting from these sales received the nickname “Browns Bottom”). In spite of this Switzerland somehow does not get so much political criticism although the country sold off much more gold than Britain did.
      The losses incurred by these sales at today’s prices would have been sufficient to have paid for the new Trans-Alpine Railway Tunnel and left some change over.
      These sales were not necessary and the Swiss public were misguided about their need.
      I concur that these sales can only have been made to serve foreign interests.

13. QUESTION:
    Where to Sell Gold Billiards & Coins in London?
    I have a gold billiard (1 ounce, solid gold) and a coin (1/2 ounce, solid gold). I'm launching a business right now so it's probably the best use I will have for the gold and makes the most sense to sell it now to raise extra funds.

    Does anyone know Jewellers or traders or any place in London, that buys Gold billiards and gold coins and pays the market price (the actual Index price that gold is valued at on that day). I know the value changes a few times a day and I know there's companies who buy unwanted jewellery at rip off prices. I want to actually walk in to a building, hand the gold over and be given the real value of the gold... Is there Banks, Gold Dealers, Traders or Jewellers that pay the Market and Trading price, does anybody know where they are in London?

    Any useful advice is appreciated,

    Thank you

    • ANSWER:
      http://www.spink.com/home_page/index.asp
      These are dealers that are well known, if they are not interested, I'm sure they can tell you someone else. Just found this link to loads of dealers, phone a few and ask them. http://www.numis.co.uk/london.html

14. QUESTION:
    how do you sell gold ingots - does it have to be at a gold trader or will a bank buy them?
    I am in the country and there does not seem to be anyone that does this.

    • ANSWER:
      In the USA, there is no legal restriction on selling them to any interested party. It is most common, however, to sell gold ingots at a coin shop. Assuming the hallmark on your ingots are one of the commonly recognized ones, most coin dealers will pay about 95% of current spot price.
      Current spot gold as of this writing is 1.60 per ounce. For updates, check the web site below.

15. QUESTION:
    If I take my bank money and but gold with it, and later sell it, is the buyer supposed to give me all that I ?
    paid for it? I once tried to sell gold, and was being offered significantly less than I paid for it. Where can I go that I'll be paid back all that I paid for the gold? I mean, I've heard that gold nowadays is a good investment and all............
    (pls replace that "but gold" with "buy gold" in the question)

    • ANSWER:
      There are no guarantees that you will get what you paid for it.

      You need to understand something about gold prices. You or I can look up the "spot" price anytime:

      http://www.kitco.com/

      However, "spot" price is like "prime rate". Not everybody gets it. Certainly when you buy an ounce or two, the seller will charge you a premium over spot. Similarly, when you sell an ounce or two, the buyer will offer you somewhat under spot.

      If you are willing to pay large premiums when you buy, and give big discounts when you sell, the premiums/ discounts can wipe out your profits or at least make a hole in them.

      The other question is the price you bought at. If you bought at a recent peak of 00 per troy ounce, you will lose money if you sell at the current 1.70. If you bought 5 years ago at 381.00, you could sell at a hefty profit now.

      If you find yourself underwater and can wait, I would hold the gold and wait a year or two. Our government continues to spend like a drunken sailor, and the printing presses keep printing money. During times of inflation, gold prices rise. And rise they will.

      Grandpa

16. QUESTION:
    how do gold bond work and how to buy it.. ?
    Hello All,

    I am interested in buying gold bonds not the actual gold...i need to know how do they work. .
    also i need list of companies, banks etc that sell gold bonds.

    can nebody help me out...

    thanks...

    • ANSWER:
      Don't bother just buy Lyxor Gold ETF. Quoted on stock exchange. See http://www.shareworld.co.uk

17. QUESTION:
    to sell the gold or keep it in the bank as an futur investment? which one is more beneficial?
    i am having gold jewellery's of Rs.2,00,000. I want to invest it for future. I just want to know is it better to sell the gold and fixed that money in bank account as fixed deposit or keep the jewellery's in locker and sell it after 10-15 years. which way will be more beneficial for me for future investment.

    • ANSWER:

18. QUESTION:
    Where should one go to sell investment-quality gold bars?
    No area banks seem to want to buy. I know that in many decades past you could (theoretically) go to any bank and exchange a gold certificate for gold. Where is it intended nowadays that you take the gold to sell?

    • ANSWER:
      In most cities there are agent buyers for the treasury department. You can usually go to the yellow pages and find gold brokers.
      They usually charge a small fee. You can also search the web for buyers that buy gold, trhey usaully make 10-20 percent fromt he discoutn rate published. You can check gold prices at www.usatoday.com and get the daily rate.

19. QUESTION:
    How do I invest in gold in South Korea?
    I really am frustrated when it comes to investing in South Korea. I want to buy some gold coins or gold bullions but here in Korea, there are no gold coin shops. Banks don't sell gold. The Korean mint does not make gold coins. Of course this is just the top of the iceberg compared to the problems I am having with investing my money while I am working in South Korea. Did you know that Korean brokers do not give you a prospectus on each stock before you buy it? Also, some dealers just give you a handful of stocks and you don't know the companies. Yeah, that's South Korea for you.

    Anyway, does anyone know how I can buy or invest in gold in South Korea? Or how about Asia, I am willing to travel anywhere in Asia for great deals in gold, Hong Kong, Singapore, India, anywhere in Asia.

    Sorry for being long winded but Korea's investments strategies are a$$-backwards

    • ANSWER:
      I may not know much, but if you're so rich that this is actually an issue for you then buy a plane ticket to Hong Kong, they speak English there. Or you could just buy gold online--I see you've met the internets.

20. QUESTION:
    Where can I buy Gold coins or biscuits?
    I know the online places to buy gold etc. But I was wondering where can I walk in and buy like a retail standard gold biscuits or coins. Is it like a bank or some kind of institutions that sell gold to individual customers? I just would like to buy 2 or 3 of them. Thanks in advance.

    • ANSWER:
      gold coins: any coin shop - also silver

21. QUESTION:
    Could I sell gold/silver shares?
    My aunt gave me this idea. Many of her friends are getting into gold and silver but can't afford it. She mention that I should divide the gold and silver in 1/10-1/100 a ounce sell the rights to people and when we decide an amount to sell weither its a loss or gain I pay them out and charge a fee. If I forum a business can I do this? The gold and silver is at a bank at the time. Any help is great.

    • ANSWER:
      In order to do that, you would first need to obtain a brokerage license, which without considerable financial assets, you would most likely not be granted.

22. QUESTION:
    i hv interview 4 PRcanada i dont hv enough fund in my a/cbut hv enough gold,if i sell&tranfer 2 a/c is it ok?
    next month i m having interview and fund needed for canada immigration is about $ 15,000 but i do not have that much fund in my bank account, but if i sell my gold i can easily gather fund. And i have to present bank statement for 1 year, so is it appropriate?...whether it will pose any problem?

    • ANSWER:
      pls.note . as a employment agent i would like to bring these canada visa. now days somany mails sent by the illeagal immigrants for these visa. so many cheating agencies in this visa arrangements. once you got the visa you should check with the canada embassy in your state. after that you think about this money problem. you can approach any bankers in your place, they will guide you. this is my advice for you. best of luck

23. QUESTION:
    Does the Central Bank of the Philippines buy Gold and Silver coins?
    Does the Central Bank of the Philippines buy Gold and Silver coins? I am a coin collector and I wanted to know if the Central Bank of the Philippines would buy Gold or Silver bullion coins from USA or Canada? I've heard that they have a gold and silver buying program.

    Can anyone let me know what their policy is regarding buying and selling gold/silver coins?

    • ANSWER:
      ......yes they are and even the small enterprises like pawnshops.....

24. QUESTION:
    Silver & Gold?
    What type of place in my local town sells silver or gold bars? Do jewelry stores sell it? Banks? I checked out a mint to buy bars but they have a 500 ounce minimum order. I also dont want to buy it off ebay because with shipping prices, silver usually sells for up to 16 dollars per ounce (or more) instead of the 14.50ish market rate that its at right now.

    • ANSWER:
      Gold, right now, is about 0-0 an ounce and rising. If you can afford it...go for it. I don't know where you could find it though. A jewelry store may be able to help you...or maybe a bank possibly.

25. QUESTION:
    is it true you can sell money 4 gold?
    i herad you can trade money 4 gold at a bank. is that true?

    • ANSWER:
      Yes that is very true although only very large banks actually have gold reserves and even those will have a minimum exchange so make sure you have a lot of cash with you. A small pawnbroker or jeweler is probably an easier way of getting your hands on the yellow stuff

26. QUESTION:
    Why gold prices at a bank are costlier than the market quoted prices?
    Why are the gold coins and bars (of same karat value) sold by many banks always costlier as compared to the quoted market prices, and that too, exclusive of taxes?

    • ANSWER:
      easy..

      there is a cost of manufacturing the coin and marketing the coin... this creates a floor above the cost of gold.

      also profit is made in the selling of the coin by the bank or company...

27. QUESTION:
    Where to sell my gold?
    I want to sell my gold but the nearest pawn shop by me is over an hour away. So I want to sell it online, but I can't find a website that'll just give me cash because I don't have a bank account, credit card, or paypal. So my question is do you know any sites that will send the cash to my house?

    • ANSWER:
      What exactly do you have?

      I can give you several sites who will pay you very fair prices by check for gold coins. But if you have gold jewelry, all you'll get is scrap prices unless you have something very special, and either way, I do not recommend selling it by the 'sendaway' method to shady outfits like Cash for Gold. Take it to a few jewelry stores if you have jewelry.

28. QUESTION:
    In view of recent rise in Value of Gold how a commoner in India should proceed to sale Gold Ornaments ?
    Keeping in view of recent rise in value of Gold,many common Indians are considering to encash their Gold Ornaments for investing in Stocks or otherwise.My question is ,how one should ideally proceed for selling of their Gold Ornaments so that there is least possibility of cheat or loss. As a common practice,does one have to compulsorily approach a Gold Smith or a Jewellary Shop for selling Gold Ornaments or are there some Authentic Organisations / Banks who help and guide in selling Gold Ornaments and / or Buy themselves. I had listened some times back about some scheme , in which some Banks help converting Gold Ornaments to Gold Bars and then accept for issuing Gold Bonds. What is that and which Banks are providing such facilities?

    • ANSWER:
      Gold has tripled in last 7 years and only going higher long-term, please hold onto it as the best investment you have.

29. QUESTION:
    Where do you change your cash for gold?
    Since US currency is losing its value, I was wondering change some of my money for gold to keep the value. I read it in the newspaper many ppl are doing that. When the economy is doing good, then sell the gold back to get the cash. Where do you change your cash for gold? Is it through the bank?

    • ANSWER:
      i think its better not to.....i was reading online that 89% got ripped off

30. QUESTION:
    How did Gordon Brown get away with selling off half of Britain's Gold Reserves...at a LOW gold price?
    http://www.timesonline.co.uk/tol/news/politics/article1654931.ece

    "April 15, 2007

    Brown lost £2bn selling UK's goldRobert Winnett and Holly Watt GORDON BROWN is to face questions in parliament after revelations that he disregarded advice from the Bank of England before he sold off more than half the country’s gold reserves at the bottom of the market.

    Insiders involved in the decision have broken ranks after an 18-month battle in which the Treasury has blocked attempts by The Sunday Times to make public the official advice received by Brown before he sold the gold.

    They have revealed that Bank of England officials had serious misgivings over the chancellor’s determination to sell 400 tons of bullion in a series of auctions between 1999 and 2002, when the price was at a 20-year low. Since then the price has almost trebled, meaning the decision cost the taxpayer an estimated £2 billion."

    • ANSWER:

31. QUESTION:
    Where to Sell 24k Gold Coins???
    I want to purchase some 24k Gold Coins, i want to know that where to Sell them after Price Hike.
    Is investing Money in Gold is Good?
    From where to purchase pure Gold coins in low Prices?
    Which one is more good, invest in Gold or Fixed Deposit money in Bank.

    • ANSWER:
      There are virtually no 24k gold coins. They would be too soft and wear out quickly. Most major gold coins are .900 fine or .917 fine (22k). However, when you buy a Krugerrand, Canadian Maple leaf or American Eagle coin, while they are .900 fine, they still have exactly 1 ounce of actual gold contents.

      Is investing in gold good.? I am a gold investor and right now I am selling some of it, because I believe it has reached a bubble about to burst.

      Where to buy? Check the eBay auctions (literally thousands of gold and silver coins are available every day) and you will get some of the best prices there without paying the sometimes obscene dealer mark-up.

      Is gold better than a fixed deposit at a bank? Only time will tell. In a fixed bank deposit will will now earn virtually nothing, but you will still have all your money a year from now, while gold may be dow 20% from where it is today.

32. QUESTION:
    economics help?????????/?
    1. Which of the following statements is correct?
    A) When borrowers repay bank loans, the supply of money increases.
    B) A single commercial bank can safely lend a multiple amount of its excess reserves.
    C) A bank's liabilities plus its net worth equal its assets.
    D) The actual reserves of a commercial bank equal its excess reserves minus its required reserves.
    2. The greater the legal reserve ratio, the:
    A) higher is the monetary multiplier.
    B) lower is the spending multiplier.
    C) lower is the monetary multiplier.
    D) higher is the spending multiplier.
    3. A fractional reserve banking system:
    A) is susceptible to bank panics.
    B) prevents the Federal Reserve from influencing the money supply.
    C) prevents money creation through the lending process.
    D) only tends to exist in developing economies.
    4. The Federal funds market is the market in which:
    A) Federal Reserve Banks borrow from one another.
    B) U.S. securities are bought and sold.
    C) banks borrow from the Federal Reserve Banks.
    D) banks borrow reserves from one another on an overnight basis.
    7. Assume the Standard Internet Company negotiates a loan for ,000 from the Metro National Bank and receives a checkable deposit for that amount in exchange for its promissory note (IOU). As a result of this transaction:
    A) the supply of money is increased by ,000.
    B) the Metro Bank acquires reserves from other banks.
    C) the supply of money declines by the amount of the loan.
    D) a claim has been "demonetized."
    8. A commercial bank can expand its excess reserves by:
    A) buying bonds from a Federal Reserve Bank.
    B) demanding and receiving payment on an overdue loan.
    C) buying bonds from the public.
    D) paying back money borrowed from a Federal Reserve Bank.
    9. Banks create money when they:
    A) accept deposits of cash.
    B) buy government bonds from households.
    C) sell government bonds from households.
    D) allow loans to mature.
    10. The legal reserve ratio applies to checkable deposits at:
    A) savings and loans.
    B) credit unions.
    C) national banks.
    D) institutions of all of these types.
    11. Suppose the reserve requirement is 20 percent. If a bank has checkable deposits of million and actual reserves of million, it can safely lend out:
    A) million.
    B) .2 million.
    C) 0,000.
    D) 0,000.
    12. In a fractional reserve banking system:
    A) the Federal Reserve has no control over the amount of money in circulation.
    B) the monetary system must be backed by gold.
    C) banks can create money through the lending process.
    D) bank panics cannot occur.
    14. Suppose a commercial bank has checkable deposits of 0,000 and the legal reserve ratio is 10 percent. If the bank's required and excess reserves are equal, then its actual reserves:
    A) are ,000.
    B) are ,000.
    C) cannot be determined from the given information.
    D) are ,000.
    15. Which of the following would reduce the money supply?
    A) Commercial banks use excess reserves to buy government bonds from the public.
    B) Commercial banks loan out excess reserves.
    C) Commercial banks sell government bonds to the public.
    D) A check clears from Bank A to Bank B.

    • ANSWER:

33. QUESTION:
    APUSH help ASAP!!!! owe you lots of points!?
    the panic of 1819 was the result of a speculative boom in the economy that ran for anumber of years before the panic. the cause of that speculation included all of the following except...
    a) a land boom
    b) tight credit from the bank of the United States
    c) increasing world prices for American farm products

    in Worcester vs Georgia, the Supreme Court stated that the Indians were not subject to...
    a) Indian treaty provisions
    b) federal laws
    c) state laws

    john quincy adams presidency saw all of the following events except...
    a) passage of the tariff of abominations
    b) continuation of bitterness over the election of 1824
    c) success in protecting indians in georgia

    andrew jackson fit into the new concept of the political party by
    a) decreasing the power of the presidency
    b) always supporting states rights
    c) removing large numbers of entrenched office holders

    when jackson heard marshall's decision in Worcester vs Georgia, he...
    a) attacked the decision but enforced it
    b) refused to enforce the decision
    c) argued that the decision did not go far enough

    the president of the bank of the us responded to andrew jackson's attempts to kill the bank by...
    a) selling gold reserves at discount prices
    b) calling in loans and raising interest rates
    c) suing the federal government for violation of its charter

    immediate causes of the panic of 1837 included all of the following except...
    a) presidential order requiring federal land be paid for in specie
    b) easy credit policies of the bank of the us
    c) withdrawl of federal funds from state banks

    martin vvan buren responded to the panic of 1837 with the idea of an independent treasury which was
    a) used to keep the government out of state banks
    b) helpful to people borrowing money
    c) popular with Whigs and conservative Democrats

    PLEASE DON'T TELL ME "THAT'S WHAT GOOGLE'S FOR, BECAUSE I'VE TRIED FOR HOURS AND THE SEARCH IS TOO BIG AND TOO COMPLICATED. PLEASE JUST ANSWER WITHOUT WEB LINKS IF YOU CAN. THANKS!

    • ANSWER:
      a few answers here:
      http://www.studystack.com/flashcard-394710

      #101 (at the bottom of the page click "Grade the test", even if you didn't take the test) -
      http://dlc.k12.ar.us/Ronn.Atkinson/classes/20072008/APUSH/MCExams/Fall2007review.htm

34. QUESTION:
    Does the Federal Reserve actually have a Gold reserve?
    We all know the Fed is a privately owned bank that sells the US it's own money with interest when congress could actually print it's own money free of interest. So why would we pay a big bank for money we can make on our own with legitimate back-up?

    • ANSWER:
      Believe it or not, Yes, the Fed does have a gold reserve.

      Check out the Federal Reserve balance sheet and you'll see they have about B in gold stock. (Ref: http://www.federalreserve.gov/releases/h41/Current/ ).

      As a side note, the Federal Reserve bank of New York reportedly has the largest gold repository in the world, even more than Fort Knox. It holds approximately 5000 tons of gold. However, they are just caretakers of this gold for other countries(Ref:
      http://en.wikipedia.org/wiki/Federal_Reserve_Bank_of_New_York )

      - The statement that the Fed is privately owned is not wholly correct.The Federal Reserve System is organized with a government agency at the top (the Board of Governors), and branches beneath them that resemble private corporations. (http://www.federalreserveeducation.org/fed101/structure/ )

      The Board of Governors are all appointed for 14-year terms by the president and confirmed by congress. It operates per it's charter and laws set by congress. it is overseen by congress. There is no structure or mechanism for private ownership at this level. Board members are forbidden by law to have any economic interest in a private bank.

      The 12 branches, however, are organized similar to private corporations.

      - Also, at the end of the year, the Federal Reserve gives all profit (after expenses) to the Treasury. All that interest they get from T-Bills? Most of it is returned.

35. QUESTION:
    Are Americans allowed to buy gold now?
    I know that FDR created the federal reserve and threatened imprionment to americans that would sell their gold to the federal reserve bank. (If they owned more than a 0).

    Can we buy gold now? Is there a limit to the amount of gold that we can buy? When did this change and please list some facts/sources.

    Thanks...

    • ANSWER:
      In the US, there is no restriction on buying or owning gold, in either bar or coin form.
      The limitation on gold ownership in the U.S. was repealed after President Gerald Ford signed a bill legalizing private ownership of gold coins, bars and certificates by an act of Congress codified in Pub.L. 93-373 [2] [3] which went into effect December 31, 1974.

36. QUESTION:
    What is the best way to buy Gold, as of today Gold has gone up 60%, I have 0.000 how do I buy Gold?
    My bank gives me a lousy 2%, and the money just sits there, but I am clueless on buying gold, when I buy gold, does it come in coins that I have to put into a safe deposit box?
    And how legite are these Gold selling companies?
    And which one would you recommend, in other words, how does one buy Gold?

    • ANSWER:
      You can buy gold coins (if you can find them) and store them in your safe or a safe deposit box.
      If you trade stocks, look up:

      http://www.centralfund.com

      or

      http://www.gold-trust.com

      These folks stockpile precious metals, and they are honest. The only problem is the shares are trading at a premium right now. You can wait, if you wish, and the premium may go down, but the price of gold will go higher, so it's your call.

      You can learn quite a bit about gold here:

      http://www.kitco.com

      Good Luck!

      Grandpa

37. QUESTION:
    I can buy Kilo's of Gold, where can i sell it?
    Hello community, I may be able to come across Kilos of gold for a good price from another country, but I'm unsure of where to sell it.
    I am also unsure of what Karats it would be, because i hear that 24K is a better investment....true?

    Anyways, where can I get the most money? Banks? Jewerly stores? Federal Reserve? Fort Knox?haha. or Not sell in this country at all?
    Thanks guys.

    • ANSWER:
      Try these people:

      http://www.bulliondirect.com

38. QUESTION:
    Is there an organization like a bank that holds gold instead of dollars?
    I'm not talking about Monex. It might do that, but it has an "F" rating with the Better Business Bureau. I'm talking about an organization that can issue cards like a bank that works even at ATMs but your account would be full of gold that you buy instead of dollars. That way, when the dollar goes down because of hyper-inflation, the gold in your account will maintain its value. The organization would hold the gold so their customers don't have to worry about security with the gold.

    There are organizations that sell gold, but they ship them to the customers and those customers then have to secure the gold within their household possessions. Is there a way around this?

    • ANSWER:
      No, there is none (at least none you would trust more than banks today).
      Thanks for pointing out Monex has an F.

      ATM and bank pooled money can only be accessed if an organization is a legal bank (not only are there laws, but also banking community rules).

      There is no bank-like organization that can liquid gold immediately while storing it for you, while converting dollars to gold, at least not without spending lots of money that won't be worth the trouble, and unless you see the gold, how can you trust they are real?

      Freedom comes with a price, your responsibility to manage your money. If you let other people hold your gold, why not let other people hold your cash? You can't have everything, it's either convenience or safety, it's either risky or restrictive.

      Would you let foreigners keep your cash? If so, would you like the fees in conversion and transmission?

39. QUESTION:
    if the dollar fails and I sell the silver/gold...?
    When/if the dollar collapses and hyperinflation takes over will I be able to sell my silver/gold for the inflated dollar and pay of my credit card debts and mortgage with ease.

    in theory, if I pay for 1oz of silver today, and tomorrow the dollar collapses and it costs 0,000 for the same 1 oz of silver. could i sell the silver and pay off my mortgage?

    I keep hearing stories of nations that hyperinflation took place and it costing million dollars for a loaf of bread. I see pictures of people carrying their money in wheel barrows because there is so much of it, and its value is non-existent. I feel like the banks who are causing all this mess would have thought of this. banks tend not to get the the short end of the stick, so where is my logic flawed.

    • ANSWER:
      The price of gold is not necessarily linked to inflation. There are many cases where gold prices fall when inflation occurs.

40. QUESTION:
    where can i buy gold bars in hong kong?
    I like the ones by credit suisse or ubs
    hong kong banks will also do

    i can't seem to find a store selling it on my last trip
    i only see gold jewelry in chow tai fooks but not bars

    tell me a reputable place that sells gold bars im going there next week
    i plan to buy 5-10oz in 1oz gold bar each

    • ANSWER:
      Gold bars are not available for private ownership in Hong Kong. However, you may buy gold depository certificates from Bank of China, Standard Chartered, and other banks licensed to issue them. The certificates give you legal (but not physical) ownership of gold bullion held by the bank.

      Gold smuggling is a serious crime in Asia. Countries with weak currencies, like Vietnam and Laos, consider gold smuggling to be an attempt to destabilize their country. The death penalty is possible. That is why gold bars are not sold in Hong Kong.

41. QUESTION:
    Where to buy gold bullion?
    I live in a fair sized city in Ontario, Canada... about 70,000 people. Would there be a store in my city that sells gold? I don't want to buy it online. What kind of store am I looking for? Coin dealerships or pawn shops maybe? You can't get it at the bank can you? Or do they only sell it directly in larger cities like Toronto?

    I don't want collector's coins, I just want pure gold as close to market value as possible. (I know there is going to be a vendor markup.)

    I already own a gold ETF but I would like to own a little bit of physical gold.

    Also anything I should look for to avoid being ripped off?
    Would buying an equal $ amount of silver be as good a choice as buying gold? It's certainly cheaper so I could buy a lot more of it.

    • ANSWER:
      if you can get to Toronto, you should be able to find a pure precious metals dealer there, i don't see why not. better at such a dealer than at a coin or pawn shop, i would think. i can't get metals at any bank here in the US, so i would think it would also be the same in Canada.

      i live in NYC, so i go to a major dealer here called MTB. i buy Krugerrands for spot plus a variable premium and commission. i can't avoid paying over spot, but i think i'd pay the same or more if i mail ordered, and at least i get the satisfaction of taking it home with me.

      your idea of buying silver is a good one, considering that the current gold/silver ratio is 56, which is much higher than the historical ratio of between 15 and 20, which means that silver may be considerably undervalued with more upside potential going forward. right now i'm buying more American Silver Eagles and Canadian Maple Leafs than i would normally (i also have 100- and 10-ounce bars which come at much lower premiums), with the idea of riding the ratio down from 56 to a point where it would be profitable to trade my silver for gold.

      for the ASEs and CMLs i pay spot plus a to premium and commission. the bars only cost me 25-50 cents extra per ounce. i actually prefer the CMLs because they have a C face value vs. US for ASEs, although what practical difference this will make if/when our paper currencies turn to dust may be none at all, since silver is still silver.

      i don't have any metals ETFs myself and prefer to stay away from them. i feel there is always a risk, however slight, of corporate incompetence and malfeasance by the ETF issuer. the metals they account for may not actually exist. an ETF share is also a form of debenture, and if it were to go under, you would still only be a general creditor.

      (btw, i don't know where one of the posters gets the idea that your coins have to be pristine. some of the silver i've bought from MTB is tarnished, and they'll buy it back for as much as any of my "pristine" silver. they handle them all like handling bulk grains, anyway...)

42. QUESTION:
    Who buys Gold that I want to sell?
    Hi,

    I want to sell 24 Carat, 99.99% pure gold bar (with an Assay certification) that I purchased from a leading bank. I want to know who would buy it at market rate?

    Thank you

    • ANSWER:
      You can sell it to the same bank through which you purchased. That will be the correct way to do this. If you are not in a position to meet the same bankers, you can sell it to the other bankers or jewellery shops or financial firms dealing in gold like Muthoot. So far as the market rate is concerned, I don't think you will get it. You will get somewhat less rate than the current market rate.

43. QUESTION:
    Can you use real money to buy Gaia Gold?
    I was trying to troubleshoot a problem viewing my trades at the bank, and while I was googling I found a site that was selling gold for cash. Is that legal (gamewise, obvy)?

    And if it isn't against Gaia's rules, are those sites legit? I have to admit I'm sorely tempted. :-Þ

    • ANSWER:
      I don't think so because I have an account and I've never seen it . My answer would be no maybe.

44. QUESTION:
    Is it safe to buy Gold Coins from the BSP in the Philippines?
    I'm a coin collector and I'm interested in buying commemorative Gold coins. Is it safe to buy Gold Coins from the BSP in the Philippines? I know that there are a lot of scams out there so I'm wondering if the Central Bank there is any different from anywhere else (pawn shop).

    I heard that gold coins are sold there and I would like to know that they are real and not fake. Also do they sell other types of gold coins from US, Australia, Canada, China?

    • ANSWER:
      trust the government because if you don't you get deported. of course the central bank is trustworthy. pawnshops are regulated by the central banks and some of them do get into trouble.

45. QUESTION:
    Regarding Gold Coin (Which is the better use of gold coin?)?
    Hi everybody,

    I have some gold coins (legally purchased from a national bank).
    I want to know-
    1) Where I should sell my gold coins so that I may get maximum value of my gold.
    2) Can I change my gold coins with some jwellary for my wife?

    Thanks!

    • ANSWER:
      ofcourse u can buy jewellary for ur wife and u can also sell them at ur nearest banks they will pay u the best and u can also make a pendant with a little work done and people will be able to see the gold coin as it is in a pendant form.

46. QUESTION:
    Are we going into a one world government or coming out from under it?
    1. China, India, the MidEast, and Russia were bit players or non-existent financial entities until the 1990's. India proved today that it is a major player in the gold market by single-handedly blasting the players who have been holding down the gold price for years. China, for all of its internal problems, is now the big kid on the block. Russia can crush Europe without firing a shot. All they have to do is to turn a few valves on various pipelines, and Europe grinds to a halt in the dead of winter. I don't think that any of these guys will quietly kneel down to an English-speaking world government. They want to make their own voices heard and accumulate as much power as possible.

    2. We have already had a one-world currency: the soon-to-falter dollar. The Bretton Woods agreements after WWII basically set up the dollar as a gold-equivalent, but Nixon crapped on that parade when he slammed the gold window shut on Charles DeGaulle's bony fingers. What we are seeing now is not the birth of a new one-world currency, but rather the death of a faded fiat currency whose handlers are intent on inflating it away in order to retain their elusive power for a few more weeks or days. If there is to be a new one-world currency, it will have a nice shiny yellow color. Most central banks have now stopped selling gold and are intent on restocking their gold stores. No other fiat currency can fill the dollar void, and I don't believe that anyone will take seriously any new fiat currency that is issued without a solid gold backing. Fiat is so 20th century.

    3. We have already had a one-world government: the wishes and demands of the United States. Everywhere we go, we insist on setting up naval or airforce bases, essentially occupying every country in the world except for a handful. When the Chinese invade Africa or South America, they build schools and hospitals and offer to trade in the local currency. The paradigm has shifted, and the old world government is on the way out. The new regime will be diversified, not centralized. The League of Nations and the United Nations were earlier attempts at centralized one-world government, and both organizations failed to hold up their ends of the bargain.

    4. The climate change treaty due to be signed next month has been viewed by some to be the harbinger of a new world government, but look at the countries who have refused to sign it: China and India. How is any world organization going to force those two countries to succumb to such assinine demands? How do you force China to do anything it refused to do? Nobody has any leverage whatsoever over them. They may have a tiny economy when compared to the United States, but they have so much inertia that, to move them in any direction is akin to moving an aircraft carrier with a rowboat: ain't gonna happen, no matter how much we "hope" we can "change" them. How can you have a one-world government when 25 percent of the population brushes off the new Powerz-dat-be?

    5. Will the good folks in the Great Republic of Texas, or our "friend", Hugo Chavez, or the North Korean nutjob even consider for one second the possibility of submitting to some out-there one-world government? I think not. With so much dissention, not to mention outright snubbing, how can any centralized government succeed?

    My conclusion is that we have already experienced a one-government, one-currency system, and it is now falling apart, leaving the way clear for a myriad of local sovereign governments to come to the fore. Gold is the once and future universal currency, and, unfortunately for us, the United States will lose its top-dog status. "

    • ANSWER:
      The value of America is still the greatest in the world. Our dollar is still the leader, not as valuable as before, but the world still wants our dollar and business. We have tried the one world concept through the UN but there is no corporation or control of assets nor principles of government to follow. Gold , diamonds, oil are fine products but are not of value in exchange of goods. The American dollar will bounce back. The world really needs us for their economy and militarily protection.
      America has through the past 50 years helped other nations to become solvent, have helped their economy grow, taught their people how to manufacture things which the world bought. The standard of living in the world has grown, at our expense, you might say, but it was necessary. We have fought two unnecessary wars, Vietnam and the present war conflict, these wars have cost us greatly. The money spent profited others, not us. American business-men have been foolish. We allowed the banking industry to tank, our auto industry to fold, because of greed and dishonesty.
      Things are looking up, GM may become solvent and start paying back the bailout loans next year. Home prices are starting to stabilize. Credit cards and loans are not piranhas anymore because of regulations.
      Its time that America becomes leader among equals, not top dog.!!!!!!!!!!!

47. QUESTION:
    Do you suspect the latest "end times" scare is just a marketing gimmick?
    To keep up with the latest fashion in current events, you must know that world is coming to an end. Again.

    As an old man once told me: "It's always the end of the world somewhere!"

    Rumors of the world ending are nothing new, but I think in this day and age its more about getting people to buy something in this uncertain economy.Some psychologists point to a reaction to greater legal freedoms for minorities, but I sense financial motivation.

    Just what are they trying to sell this time? Emergency mini seed banks? Gold bullion? What else?

    • ANSWER:
      From the death of Jesus(If he really existed) people have been talking about end times. 2000 years from now, if theists still exist as they do now, they will still be preaching end time crap. Nothing brings people in the door better than a good scare tactic. Religions use this tactic to their benefit.

48. QUESTION:
    Gordon Brown accused of cover-up over gold sale, was he prudent to try?
    "Gordon Brown was last night accused of a “cover up” over the sale of Britain’s gold reserves after Treasury documents indicated that the Bank of England refused to support the sell-off."

    " The decision to sell the gold is one of the worst to have ever been taken by the Treasury and has cost the country about £7 billion as the price of bullion has since risen sharply."

    http://www.telegraph.co.uk/finance/7542525/Gordon-Brown-accused-of-cover-up-over-gold-sale.html

    • ANSWER:
      Just one in a long line of catastrophic c ock ups! The man is utterly useless!

49. QUESTION:
    RHH: Please Review These 2 New Verses?
    Feel free to discuss the themes and let me know what you think of the verse overall. Give me some feedback, constructive criticism is also welcomed. Thanks.

    For a democracy were really not very free,
    All I see is their giant eye watching me,
    spying on towns crying us down with drowning frowns,
    no clowning around your a grown up now,
    got to remain calm steer clear from harm,
    its so near now were avoiding the grabbing arm,
    trapped inside a crane game with no name,
    a number in file with no identity theres no shame,
    we know who's to blame we try to speak aloud,
    but silenced in the crowd full of the meek and mild,
    as a child I always asked the big questions,
    now as a man i feel tasked to use expressions,
    as a way of allowing others to have that spark,
    that ability see see light in the dark.
    its fulfiling to me to acomplish this mission,
    using intuition and vision to thrill and glisten,
    a diamond in the dirt but not an old cliche,
    I believe the hurt can become the bold elite today...

    Dystopian view its nothing new to tell,
    all this we knew thanks to George Orwell,
    1984 was innaccurate in some ways fine,
    he picked the wrong year he meant to call it 2009,
    where our money is spent by the bent,
    the corrupt the bankers and the government,
    economic crisis the eye of osiris locked on it,
    its on your money so there always in your pocket,
    taxes paying for wars on far away shores,
    we scores of young men die for the so called cause,
    who ever said its justified to die for high oil prices,
    I never did but not suprised at why they lie to us,
    guns to sell bank rolls to swell in their corruption well,
    volcanic eruptions shake the bells toll its time for hell,
    we are all there unless we speak beware of their stare,
    scare tactics employed to keep us unaware,
    nobody cares morale values replaced by value of dollar and pounds,
    black gold is bought sold and stole under this false shroud.

    • ANSWER:
      I'll give the first one an 8.5/10. And the second one will get a 7/10 only because the flow wasn't as consistent as the first verse IMO. Still dope nonetheless.

50. QUESTION:
    Can you clear my doubt regarding investment in gold coin?
    i am very much intrested,to invest in gold coin. I will buy gold coins from any nationalised banks but where it is possible to sell that coin with more profit legally and explain me the way of approach......pls hlp me....

    • ANSWER:
      There's a famous quote from Claude Shannon, "I'd rather invest in stocks than gold, because companies grow, metal doesn't.". The only value that gold has is that it's value isn't limited by political borders so the devaluation of a countries currency won't affect your holdings in the metal. The rise and fall of gold prices is purely speculative about the uncertain future and is a reflection of the publics perception and confidence in their country's economy. Currently, gold prices are high because American sentiment about the economy is very negative. If you think that the economy won't be getting any better then perhaps gold is a good investment but if you think that the economy will be better than it is now in the future then gold isn't all that good of an investment at this time. When you buy gold, it only retains it's value if kept in registered vaults and you pay a fee for storage in those vaults however if you take delivery of the gold either as coins or bullion, it is sold to you at a premium and purchased back from you at a discount basically there is a spread to account for the fact that it has been stored in an unregistered facility and hence may have to be re-assayed to prove it's authenticity. You will get the smallest spread if you sell to the same dealer that you bought from.

      Historically, the value of any currency is a matter of whether it's accepted and the degree to which it's authenticity can be proven. Money is accepted by decree and hence is as good as the government standing behind it. The authenticity of money is a matter of how it is manufactured, what it is manufactured from, how readily can it's artwork be duplicated and how effectively the government enforces prohibitions against counterfeiting. Gold is accepted by numerous governments due to it's historical use as a currency which stems from it's unique property of being very dense, it's twice as dense as lead which means this pure physical property assures it's authenticity in that a gold object could not be hollowed out and filled with another more common material without changing it's weight significantly. Gold's value is that it's authenticity is guaranteed by an inviolable law of physics, it simply can not be counterfeited. Of course, in this modern day and age, we now know of materials that are more dense as gold but they are either even more rare or require a great deal of technology to work with so this natural authenticity of gold still holds despite rumours of gold plated tungsten being substituted for gold.

      I can't honestly recommend gold as I believe that the economy must eventually get better than it is now but to each their own. If you are considering investing in gold merely for profit then you would be better served to choose to trade in something to which you can add value.