On the 17th the bank issued three values of bullion:
- 31.1g silver pieces with a 3RUB face value
- 7.78g gold pieces with 50RUB face
- 15.55g gold pieces with a 100RUB face value
These bullion pieces are legal tender in the Russian Federation.
Tag Archives: Silver
GATA’s Chris Powell explains the importance of gold price manipulation
“It’s the destruction of markets and it’s the manipulation of the value of all capital, labour and goods and services in the world.“
In a recent appearance on RT’s Capital Account GATA’s Chris Powell gave an excellent explanation of why market manipulation is an important issue.
“What they are doing is really [trying] to seize control of everything economic in the world. And really surreptitiously behind peoples backs. It’s an essentially tyrannical system, that is what we are trying to expose. “
Blanchard Vault makes gold and silver ownership affordable
Blanchard Vault Inc is a new precious metals dealer based in Nevada that aims to provide “U.S. residents with an efficient and liquid way to buy, own and sell physical, 100% fine gold and silver bullion.”
Gold and silver purchased through Blanchard Vault are stored in 1-kilogram (32.15 oz) gold bars and 1,000 ounce silver bars. Customers can purchase an entire bar or a fraction of a bar, from as little as $25.
Euro Pacific Bank Reduces its Gold and Silver Selling Fee from 4% to 0.5%
This is good news for customers using the bank’s gold or silver backed debit cards.
Currently, to use these cards you need to have a USD account with the bank and fund this account by selling your gold/silver. This fee reduction means it’s more economically viable for clients to sell their metals and load up their cards.
Voucher-Safe, a Next Generation Digital Currency – Part I
Digital Gold Currency is a fantastic idea. Gold enjoys thousands of years of history as an excellent currency and store of value. It is a form of money that is constantly chosen by the market and that needs no legislation to support its value. Gold is stable, solid and cannot be pulled out of thin air. With modern technology gold can be used as a currency online without any more effort than it takes to check your email. Brilliant!
But as DGC’s were starting to take off and be recognized for their many benefits, the rug was pulled out from under the industry with the prosecution of e-gold. The old DGC business model is centralized and vulnerable to seizure, censorship and prohibitive regulation.
The Voucher-Safe system allows for a more decentralized, Anti-Money Laundering compliant way to anonymously exchange value. It’s DGC 2.0, a more flexible and resilient system where anything can be money. “The idea behind voucher-safe is that it isn’t about making just one thing money. Money can be gold, it can be existing national fiat currencies, it can be bitcoins, it can be silver, it can be anything of value that people want to exchange.”
Austrian Economist and Former Mises Institute President Makes the Case for Innovation in Currencies
Doug French is Senior Editor at Laissez Faire Club and a former President of the Mises Institute. In a new post he supports “Currencies of the Future” (i.e. Bitcoin) and argues that “The answer to the currency question may not be to reform government” but instead to make “an end run around the government’s iron grip on the monetary system.”
The Canadian Mint Announces Silver ETR, but ‘Redeeming’ Your Silver May Not Be So Easy
Last week The Royal Canadian Mint announced that it will make an initial public offering of $100 million in silver exchange-traded receipts. This comes after the success of the Mint’s Gold ETR last year.
MineWeb reports that “The Mint will offer exchange-traded receipts, priced at $20 each, Proceedings from the C$100 million offering will be used to purchase silver bullion. … The silver ETRs will trade on the TSX and will be redeemable once a month for either cash or silver bullion.”
However, a careful read of the ETR’s prospectus, reveals that physically redeeming your silver is a complicated process that is subject to “suspension” and “Any declaration of suspension made by the Mint shall be conclusive.”
Peter Schiff’s Euro Pacific Bank Introduces a Silver Backed Debit Card
The Euro Pacific Bank is located in St. Vincent & the Grenadines which has established banking secrecy in statute making it one of the most private and secure places to do business and protect your assets.
Mr Schiff opened the bank to better serve his non-US investors as the current U.S. regulatory environment has made it very costly to assist international clients. Unfortunately, this means if you are an American citizen or resident you cannot open an account with the bank.
Singapore Scraps it’s 7% Tax on Gold and Silver
Singapore scraps it’s 7% tax on gold and silver in an effort to turn the city into a precious-metals trading hub to rival London and Zurich. “There has been a dramatic increase in customers wanting to move out of paper, that is over-the-counter gold, and into physical,” said Cedric Chanu, director, Asia precious-metals trading at Deutsche Bank. “We’re seeing customers wanting to move their gold from Europe into Singapore.”
How to Spot Fake Gold & Silver Bars
Earlier in the week this story of a fake 10 Oz gold bar found in Manhattan’s jewelry district hit the web.
If you’re worried about your gold or silver, there is an easier way to spot a fake than drilling into your bars. Ultrasonic gauge thickness testing.