Jun 29, 2020 | base metals, coins, legislative, news
Somewhere along the line, logic and reality have not reconciled the meme that cash is dead because everyone uses credit cards. Although there has been an increase in credit card usage because of the COVID-19 pandemic and quarantine orders, banks and retail outlets have been reporting a shortage of cash.
For the most part, the U.S. Mint coin manufacturing processes have been fully operational during the pandemic except closing West Point briefly. The coin factory is mostly automated and does not require many workers. The U.S. Mint reports that the offices that include in the engravers are working from home, but the manufacturing continues.
But reports from the St. Louis Federal Reserve noted that even with the reduction in foot traffic, the rate of people paying with cash remained steady. The San Francisco Federal Reserve noted that the rise in credit card use coincides with the increase in online shopping.
The U.S. Mint is not the cause of supply chain problems. The problems are within the Federal Reserve and how they operate their coin storage. When Federal Reserve Chairman Jerome Powell discussed the coin shortage, he also said that the problems magnified when the quarantine impacted the logistics companies that move the coins from place to place.
Like many things, congress took the wrong message from Powell and prompted what may be a necessary action but for the wrong reasons. Sens. Mike Enzi (R-WY), and Maggie Hassan (D-NH) introduced the Coin Metal Modification Authorization and Cost Savings Act (S. 4006) to allow the U.S. Mint to change the metal used in your change.
While the senators are patting themselves on the back for looking like they are doing something, changing coning metals will not help. Although the U.S. Mint has studied alternative metals, several steps will take many years to complete. Canada and the United Kingdom have to change coins and coining metals in recent years. Both countries made the transition in four years and continued to have problems.
Another lesson learned is that to help Canada and the U.K. to make the transition, their respective central banks demonetized the old coins. The United States does not demonetize its coinage. Even with significant media coverage, the Bank of England reports over £1 million of demonetized coins in the public’s hands.
When the United States transitioned from silver to base metals, a six-year transition did not go as planned. We learned later that the U.S. Mint continued to produce silver coins in 1965 and 1966 with 1964 dates to ease market pressures.
Changes to coining metals may be necessary. Over the last ten years, the U.S. Mint has seen seignorage reduced as the price of copper and nickel rise. But to tie the change in metals to the pandemic is a very congressional thing to do.
And now the news…
June 22, 2020
This year, a new coin act might be the making to bring back the Peace and Morgan Silver Dollars in 2021. This will honor the centennial of the transition from the Morgan to the Peace Silver Dollar. However, in the United States, only two commemorative coin programs can be active per year – and Congress has already passed the Law Enforcement Commemorative Coin Act and the Christa McAuliffe Commemorative Coin Act.
→ Read more at
valuewalk.com
June 24, 2020
Wayne Fournier was sitting in a town meeting when he had his big idea. As the mayor of Tenino, Washington (population: 1,884), he’d watched the pandemic rake local businesses.
→ Read more at
thehustle.co
June 26, 2020
Gold insider Edmund Moy is all in on gold coins as an investment with prices for the yellow metal on a strong upswing. And he shared with Yahoo Finance how he is protecting his investment. “So I keep a little bit.
→ Read more at
finance.yahoo.com
June 26, 2020
U.S. Senators Mike Enzi, R-Wyo., and Maggie Hassan, D-N.H., have introduced bipartisan legislation to allow the U.S. Mint to adjust the metal content of circulating coins in an effort to save taxpayer dollars.
→ Read more at
highlandcountypress.com
June 26, 2020
Dive Brief: • The National Grocers Association (NGA) along with five other retail industry groups have called on the federal government to take "rapid action" to address a national coin shortage, according to a press release.
→ Read more at
grocerydive.com
Jun 22, 2020 | coins, news, shows
What is likely the first coin show to scheduled since the shutdowns for the COVID-19 pandemic was approved this week. The Vegas Pop Up Coin Show will be held on July 2-5 at the Palace Station Hotel and Casino.
According to the announcement, the show will have only 15 dealers and no more than 25 people staffing dealer tables. The dealers will occupy 24-foot booths to ensure that there is a six-foot distance between people.
Organizers will control the entry to ensure that no more than 50 people are in the room at the same time. All of these measures comply with Nevada’s social distancing regulations.
The organizer appears to have gone to great lengths to organize a coin show and meet the health requirements of the time. If there are any Coin Collectors Blog readers attend this show, I would be happy to post your report. Just contact me with your information.
And now the news…
June 16, 2020
Kazan Federal University Kazan Federal University, Joint Institute for Nuclear Research (Dubna, Russia), and Khalikov Institute of Archeology (Tatarstan Academy of Sciences, Kazan, Russia) are working together to study the physical properties of the coins found on the territory of former Volga Bulgaria.
→ Read more at
phys.org
June 16, 2020
The cashier at WHSmith clears his throat to make sure Diane von Kesmark, 72, can hear him. 'It's hygiene, madam,' he tells her, emphatically. But he is not referring to the transparent plastic shield separating customers from the till, nor the latex gloves he is wearing to handle goods.
→ Read more at
thisismoney.co.uk
June 19, 2020
Palace Station is bringing in the Vegas Pop Up Coin Show — an in-person convention that will set up 15 dealers in an area that usually has 80 exhibitors.
→ Read more at
8newsnow.com
June 20, 2020
VILNIUS (Reuters) – Lithuania began minting a collector's coin, dubbed a "coin of hope", on Wednesday to mark the year of the new coronavirus and pay tribute to doctors, nurses and others who helped the country weather the pandemic.
→ Read more at
news.yahoo.com
June 20, 2020
“The flow of coins through the economy has gotten all — it’s kind of stopped," Fed Chair Jerome H. Powell said Wednesday. (Mike Blake/Reuters)
→ Read more at
washingtonpost.com
June 20, 2020
Gold has been a highly sought after asset in 2020, with the yellow metal rising by more than 15% in the first five months of the year. Now trading at just below AUD 2,500 per ounce, gold has strongly outperformed most traditional assets including shares, property and term deposits, with this outperformance dating back to early 2000s.
→ Read more at
themarketherald.com.au
Jun 15, 2020 | coins, markets, news
We sold this 1984 Mexico Libertad at auction for a nice premium above spot!
According to their survey, most of their readers report that collector coins are outselling all other categories and bringing in the best premiums. The best-sellers are modern bullion coins and Morgan dollars.
Modern bullion coins are not limited to American Eagles. Auction bidders are driving up the prices of Maple Leafs, Britannias, and Libertads. Collector bullion coins, like the American Eagle proofs and Pandas, have realized premiums beyond typical liquidation auctions.
Other categories that are experiencing a spike in sales are mixed lots. Mixed lots of silver U.S. coins are doing the best followed by lots with foreign coins. One dealer sold a lot of 20 holed English pennies for $2.50 per coin. These were coins from the reign of George V and early into Elizabeth II.
Since the readers of the newsletter I receive are dealers in the second-hand and liquidation markets, this is excellent news. The bad news is that it is becoming challenging to find inventory to resell.
And now the news…
June 5, 2020
A RARE Roman coin discovered in Colchester more than 40 years ago has sold for £4,000 after going under the hammer. Kevin Scillitoe found the coin, minted by the Emperor Carausius, when he was ten-years-old.
→ Read more at
harwichandmanningtreestandard.co.uk
June 7, 2020
Arizona history is rife with tales of hidden mines and buried treasure. Even today, those hoping to strike it rich head out with maps and shovels, despite tremendous odds against them. Scott Craven/The Republic
→ Read more at
lcsun-news.com
June 7, 2020
As shoppers and retailers do away with cash transactions, we may be witnessing the end of a major source of social and historical information – the coin. In the modern age, coinage is increasingly seen as cumbersome, a vector for disease and costly to manufacture.
→ Read more at
theconversation.com
June 8, 2020
Multiculturalism (tolerance) and the ability to unify large different ethnic groups living within the state’s boundaries are those distinct features which serve as the fundamentum for economic, military and cultural achievements of the Western civilization.
→ Read more at
georgiatoday.ge
Jun 7, 2020 | commemorative, news
It is always fun when there is something numismatic to report. This week, the U.S. Mint released the Basketball Hall of Fame Commemorative Coins. The curved or domed coins of the program feature a basketball going into the basket on the reverse or convex side. The reverse features three players reaching for a rebound.
The coins are available as a $5 gold, silver dollar, and clad half-dollar coins in proof and uncirculated finishes. The U.S. Mint is also offering an uncirculated half-dollar in a special folder for kids that will not be available until September.
Introductory pricing for the silver and clad coins expire on July 6. After July 6, the price will go up by $5. The market value of the gold determines the gold coin’s price.
Previously, there was a discussion of a colorized coin. According to the U.S. Mint, it will be available in the future.
The Naismith Memorial Basketball Hall of Fame is unique amongst sports halls of fame in that enshrinement is not limited to professionals or college players. Inductees include college and professional basketball players, teams, coaches, and broadcasters. From my undergraduate alma mater, the University of Georgia, Theresa Edwards and Katrina McClain are honored alongside Dominique Wilkins.
From Senda Berenson Abbot, the “Mother of Women’s Basketball,” to Pat Summitt, the most successful coach of women’s college basketball, the Hoop Hall presents basketball beyond the NBA.
Although it has been over 20 years since I visited the Hoop Hall, I would recommend that you visit. Maybe you could consider a trip when the Hall reopens.
And now the news…
May 31, 2020
This is a story about money and the making thereof — literally. This is a story about money and the making thereof — literally. Or maybe it is a recitation and reminder that, although most will make their way honorably through life, some always will take the dishonest route.
→ Read more at
thisweeknews.com
June 1, 2020
David Lowe, 55, stumbled across the ‘weirdly relevant’ find among a pile of rubbish while searching land near Rothbury.
→ Read more at
northumberlandgazette.co.uk
June 1, 2020
As the coronavirus pandemic hits economies around the world, the tiny Pacific nation of Tuvalu has carved out a lucrative niche — producing designer coins featuring the likes of Star Trek, John Wayne and even Duff Beer.
→ Read more at
abc.net.au
June 1, 2020
Money.co.uk has released a new study looking into the different aesthetic attributes of currency on a global scale – even looking into the Pantone references for each too. The results display certain patterns in use of colour, the appearance of different famous people or animals, and proposes what a global currency could look like.
→ Read more at
itsnicethat.com
June 2, 2020
The Brasher Doubloon, the first gold coin struck in the U.S., is being offered privately at a $15 million asking price, according to numismatic adviser Jeff Sherid. His firm, Los Angeles-based PCAG Inc., is marketing the coin on behalf of a collector he would only identify as a former Wall Street executive.
→ Read more at
dailynews.com
June 3, 2020
Nothing gets a coin collector’s blood going like hearing about a rare coin.
→ Read more at
worldatlas.com
June 3, 2020
The Holy Grail of coins has just popped up for sale. The 1787 Brasher Doubloon was the first gold coin struck in the US and represents one of the most important pieces in America’s numismatic history.
→ Read more at
robbreport.com
May 31, 2020 | commentary, news
Watching the news has been an experience. As a news junkie, I have found myself turning away from all news outlets to maintain a little sanity.
In television news terms, the “A Block” is the news at the beginning of the broadcast until the first commercial. It is where the most important stories are broadcast. Typically, a major derailment of a freight train in Northern Virginia would be an A Block story. On Friday, the 30-second mention was the lead-in to the weather report at 18 minutes after the hour.
The news of the week affects everything, including numismatics. Although the events in Minneapolis, Louisville, and Brunswick, Georgia, have their analogies to problems in the numismatic community, that will be left to another commentary. This week, I want to concentrate on the coronavirus:
- The pandemic is real and will be around for a while. It is not a government conspiracy. It is not overblown. And stop comparing the numbers of deaths to the flu. The flu kills 56,000 people annually, a 12-month statistic. COVID-19 has killed 104,217 (as of this writing) since FEBRUARY!
- COVID-19 does not care who you are, your political affiliation, or what you worship. You can be infected. Once infected, you can spread the virus even if you show no symptoms of the disease. History shows us this is possible. Look up the biography of Mary Mallon, better known as “Typhoid Mary.”
- The more scientists research the disease, the more they realize a lot is unknown. Last week, a preliminary report from a peer-reviewed medical journal revealed that people infected with COVID-19 are showing damage in their lungs. The study included people who did not show symptoms of the disease.
- Wearing a mask is not infringing on your rights and not a sign of tyranny. It is to protect everyone in the name of public health in the same manner that you are required to wear shirts and shoes when going to a restaurant. Your decision to not wear a mask infringes on my rights not to get infected since the masks are to prevent you from spreading potentially infected droplets from your lungs. If you want to make a statement, get a personalized mask with your message. Wear a t-shirt with your message. But wear the damned mask!
- And stay six-feet away from me. I would rather be six-feet away from you than six-feet underground!
Although Florida is open and the governor is lifting many restrictions, the Florida United Numismatists canceled the Summer FUN show.
Even though the ANA announced that they continue to plan to hold the World’s Fair of Money in August, sources report that Pittsburgh may not be fully open by then. Even if Pittsburgh is allowed to be in the “Green Phase,” according to the Pennsylvania governor’s plan, “Large Gatherings of More Than 250 Prohibited.”
Also, “All businesses must follow CDC and DOH guidance for social distancing and cleaning” includes dealers at their tables. Some dealers need a lesson in cleanliness and upgrading their people skills making this a barrier to holding the World’s Fair of Money.
Even if the ANA tries to hold the World’s Fair of Money, how many will attend? Are you going to travel in a closed metal tube to a show required to limit attendance? How many ANA members over 60 will attend? How many ANA members are over 60? I am 60 and 4½ hours away by car with friends in Pittsburgh that I would love to visit. I am considering not going under today’s circumstances.
Let’s do the right thing and cancel the World’s Fair of Money before going further embarrasses the organization.
Finally:
WEAR YOUR MASK!
KEEP YOUR SOCIALLY SAFE DISTANCE!
BE SAFE AND HEALTHY!
And now the news…
May 25, 2020
MLB Legend Walter "Big Train" Johnson recreated a famous myth associated with George Washington
→ Read more at
medium.com
May 26, 2020
Australians have been hoarding banknotes during the COVID-19 pandemic. Australians weren't just stockpiling toilet paper during the COVID-19 crisis – they have also been hoarding crisp new banknotes.
→ Read more at
bellingencourier.com.au
May 30, 2020
AN NHS worker was left stunned after he discovered a 670-year-old coin which was made shortly after the Black Death in a farmer’s muddy field. Amateur metal detectorist David Lowe, 55, stumbled across the ‘weirdly relevant’ find among a pile of rubbish while searching land near Rothbury, Northumberland.
→ Read more at
metro.news
May 24, 2020 | advice, bullion, markets, news
When talking about markets, the central theme is that investors hate instability. Whether the conversation is with the professional market maker or the individual investor, there is much uncertainty in the current marketplace.
When equity markets become unstable, investors run to cash or cash equivalents. Cash equivalents include investments like bonds, especially those issued by stable governments. The other investment they run to is precious metals.
Gold is the primary safe-haven for investors. As a society, we have given this mineral an intrinsic value and trade it for a premium. With the panic of the U.S. Mint closing the West Point Mint for a short time, investors started buying platinum. The most popular form to purchase these metals is in coins where we saw the South African Platinum Elephant coins sell out its 2,000 coin production.
With the markets scrambling, it has opened up the door to scammers trying to cash in on the panic buying. Scammers use tactics like selling overpriced and overhyped coins, counterfeits, and not delivering coins after purchasing.
These scams are not new. Last year, the Accredited Precious Metals Dealer (APMD) program warned against scammers as the prices jumped. Unfortunately, the problem has only become worse.
Please do not fall for these scams. If you have any questions, contact a reputable dealer from the APMD, Professional Numismatists Guild (PNG), Industry Council for Tangible Assets (ICTA), or the American Numismatic Association dealer directories. You will be glad you did!
And now the news…
May 18, 2020
Nervous investors have been pouring into the gold and silver markets over the past two months. Money Metals Exchange is proud to have helped almost 20,000 new customers with a precious metals purchase in recent weeks, many of whom came over from other dealers struggling with inventory shortages and ridiculous delivery delays.
→ Read more at
fxstreet.com
May 19, 2020
While the covid-19 pandemic has had a negative effect on the platinum market — including price, demand and supply — results for Q1 2020 show the net effect is less than feared, and the outlook for 2020 is better than expected, according the latest quarterly report by the World Platinum Investment Council (WPIC).
→ Read more at
mining.com
May 21, 2020
Investors seeking a haven from the economic turmoil created by the coronavirus pandemic are snapping up platinum coins engraved with African wildlife.
→ Read more at
ca.finance.yahoo.com
May 22, 2020
Kakinada: Cyclonic storm Amphan may have caused heavy damage in parts of Odisha and West Bengal, but the rains it brought in its wake helped unearth a treasure trove of silver coins of British India era in a village in north coastal Andhra.
→ Read more at
timesofindia.indiatimes.com
May 19, 2020 | currency, news
Feb 17, 2012 — Mercury astronaut John Glenn and his wife, Annie, pose during a luncheon Feb. 17, 2012, celebrating 50 years of Americans in orbit, an era which began with Glenn’s Mercury mission MA-6, on Feb. 20, 1962.
Photo credit: NASA/Kim Shiflett
Annie Glenn was an advocate for those with speech disorders and child abuse. She grew up with a severe stutter that she hid from the public. After undergoing an intensive program at Hollins College, she learned to control her stutter. It gave her the confidence to be an advocate for those who could not speak.
After many years of advocacy, The Annie Glenn Award was created to honor individuals who overcome communications disorders.
Although there have been many deaths during this pandemic, a few have touched the numismatic community. Aside from being the spouse of a famous American, I own a numismatic collectible with her autograph. The $1 silver certificate may not be worth much as a numismatic collectible, but with the passing of John and Annie Glenn, it becomes more precious.
Glenn family autographed “Short Snorter” dated February 24, 1962, four days after Glenn orbited the earth in Friendship 7
Rest in Peace, Annie Glenn.
May 17, 2020 | news
Dennis Rodman with his former agent Dwight Manley (Image courtesy of The Rob Report)
One of the players making an impact of the story early and later is Dennis “The Worm” Rodman. Today, Rodman may be known for his outrageous style and friendship with North Korean leader Kim Jung Un, but when he was playing, Rodman put the term “power” in his position of Power Forward. He started his career with the Detroit Pistons, the Bad Boys of basketball, who dominated the Bulls to win a pair of championships.
Rodman signed with San Antonio as a free agent in 1993 then was traded to Chicago before the 1995-96 season. In Chicago, he went on to win three straight championships.
Throughout Rodman’s journey in the NBA was his friend and agent, Dwight Manley.
The numismatic community knows Manley as a collector and the person who the ANA’s Dwight N. Manley Numismatic Library is named. Among the support that Manley provided to the ANA, he donated the first known illustrated numismatic book printed in 1517.
In a recent interview, Manley spoke about purchasing the Collection of William Spohn Baker that features the finest Washington Medals known to collectors. He said that the ANA would exhibit the medals in 2021. In the future, the medals will likely be in a museum because he feels that the collection should not be broken up.
It may not be easy to impact one area, but Manley can claim he had an impact on sports and numismatics.
And now the news…
May 11, 2020
The Worm's former agent talks about the similarities between collecting and representing the most iconoclastic athlete of his era.
→ Read more at
robbreport.com
May 11, 2020
To modern archaeologists, ancient coins whisper secrets about the life in their times. A bronze coin dating back to time of the Bar-Kochba revolt recently uncovered in Jerusalem’s Old City makes no exception.
→ Read more at
jpost.com
May 12, 2020
The U.S. Mint produces millions of coins a year, some that you use in daily commerce and some just for collecting. If you’ve ever been on a tour of the Mint at the Philadelphia or Denver facilities, you learned about how coins are made. But what happens before the coin production process begins?
→ Read more at
usmint.gov
May 15, 2020
“An exceptional gift for exceptional people” –that is how Czech Mint describes a new issue of coins which are to serve as a thank-you gift to those who fought on the front lines or simply pitched in to help in the battle against coronavirus. The issue, a joint project of Czech Mint and the Czech Red Cross, gives people the chance to express their gratitude and highlight stories of personal courage in the face of the pandemic.
→ Read more at
radio.cz
May 10, 2020 | bullion, coins, Eagles, grading, markets, news, silver
Is it Sunday already?
This past week, the numismatic world was greeted with the news that the Philidelphia Mint struck a limited number of American Silver Eagle bullion coins to help fill the demand.
Most of the production of the American Silver Eagle bullion coins are in the West Point Mint. Sometimes, the San Francisco and Philadelphia Mints add capacity when necessary, with San Francisco being the priority. Since the West Point and San Francisco Mints temporarily closed because of the effects of COVID-19, Philadelphia picked up the slack.
The U.S. Mint produces all bullion coins without mintmarks. In most cases, it is impossible to tell which mint struck the coins. An exception is the 2015 (P) American Silver Eagles. Collectors and the grading services have been trying to figure out where the green monster boxes came from by examining the serial number and other clues. In 2015, Philadelphia struck just under 80,000 bullion coins. Those handling monster boxes noticed a difference in the packaging and quality.
According to the U.S. Mint, “Monster boxes of 2020 American Eagle Silver Bullion Coins minted in Philadelphia were affixed with a typed label containing the box tracking number; additionally, box tracking numbers were handwritten directly on the boxes. Box tracking numbers 400,000 through and including 400,479 were used on boxes of coins minted in Philadelphia.”
The 480 monster boxes translate into about 240,000 coins.
With that knowledge, the third-party grading services will add a special label noting that the coins were struck at Philidelphia only if the monster box sent for grading has the proper label and seal.
Of course, the price gougers are out in force. Most reputable companies are selling MS-70 graded “emergency” coins at around $250. That is about $200 over a “First Strike” or “Early Release” graded coins. One online seller is offering a pre-sale of the “emergency release” coins in MS-70 PCGS slabs with John Mercanti autographs for $595.
Coins graded MS-69 are selling for $75-80, which is $40-45 over other MS-69 graded coins.
Remember, if the listing says “pre-sale” it means that the seller does not have the coins in inventory.
And now the news…
May 6, 2020
With central banks spraying unprecedented amounts of printed money at the global economic system, it’s little wonder the gold price soared by 18% in the six weeks following the stockmarket meltdown. All the extra money sloshing around means the chances that consumer price inflation will take off and erode the value of your cash have risen sharply.
→ Read more at
theweek.co.uk
May 6, 2020
(Kitco News) – The last time the U.S. Mint sold this many platinum coins, President Bill Clinton was being tried by the U.S. Senate and Spongebob SquarePants was premiering on Nickelodeon. As of last month, the U.S. Mint said sales of the 1 oz platinum Eagle in 2020 reached 56,500 oz.
→ Read more at
kitco.com
May 8, 2020
A veritable gold mine of silver coins which had been hastily stashed inside a church in a ceramic jug hidden by a blind Polish priest over 300 years ago has been unearthed by workers removing rotting floorboards in the blind priest’s former church.
→ Read more at
thevintagenews.com
May 4, 2020 | bullion, commentary, counterfeit, news
This past week has been interesting for the precious metals markets. When the market seems like it will take off, prices modulate and lay flatter than a pancake. Predictions as what the markets will do are all over the place without a consensus answer from analysts.
It reminds me of the quote attributed to President Harry S. Truman, “Give me a one-handed Economist. All my economists say; ‘on one hand…,’ then ‘but on the other….’”
This past week, the Anti-Counterfeiting Educational Foundation (ACEF) weighed in with another problem in this market: COUNTERFEITING!
Counterfeiting is not a new problem. What makes the problem more pronounced is that with much of the country staying home and Internet usage increasing, the number of websites trying to scam people out of money has risen. ACEF has been monitoring the problem and has reported over 100 websites selling counterfeit coins and bullion to government enforcement agencies.
Many of these counterfeiters create slick websites. Not only is it easy to create professional-looking sites with modern tools, but it is easy to copy information from one website to another. Once the scammer has the information they want, it is easy to repurpose it to scam people. They also copy the text from legitimate websites, especially if English is not their first language. It is easier to steal the text than have to create their own.
- If the price is too good to be true, it is probably a scam. Check a site like kitco.com for the current Bid/Sell price. If the offer price is below the current Bid, be wary of the seller.
- Many scammers do not include real information about their location. Beware of the seller if they do not have a physical address. I know that there are exclusively online dealers that work from home but use post office boxes, so they do not publicize their home address. For those dealers, you will have to do more investigations. However, if the dealer is using a private postal box, you may want to avoid their offers. Private postal box services have fewer verification checks than the Post Office. Also, if something happens with a Post Office Box, you will have a stronger case when you complain to the Postal Inspection Service.
- Nearly everything said about addresses can apply to telephone numbers. Telephone numbers can be faked, rerouted, sent to a pay-as-you-go phone that some people call a “burner phone,” and so many more options. The problem also exists for toll-free telephone numbers but with an additional issue: when you call a toll-free telephone number, the owner of the number will get the phone number of the telephone you used to call. Since the recipient is paying for the call, they have the right to know where the call originated.
“But Scott,” you ask. “How do I figure out if this information is real?”
Let your favorite search engine be your friend.
Use your favorite search engine and type the address into the search bar. What information comes up for that address? Is the address a business? A private home? A private mailbox service?
Use an online map service that shows street views, like Google Maps. Search for the address found on the website. What can you learn from looking at the street view?
You can also enter the telephone number as a search term. In many cases, you will find one of the many “is it a scam” websites. These sites rely on users to enter data about their experiences with the telephone number. Click on a few to see what others have said about the telephone number in question.
With those essential tools, you should be able to avoid most scammers. Unfortunately, the professional scammers know their way around these issues. Then again, some of those scammers work out in the open. They run legally but use emotion, patriotic-sounding buzzwords, and extremist rhetoric to convince buyers to overpay for their products.
If you think you have been scammed or there is a question about a dealer, contact the ACEF (www.acefonline.org) and ask for assistance.
Finally, if you are in the market to buy precious metals, you should consider working with a member of the Accredited Precious Metals Dealer program (www.APMDdealers.org).
And now the news…
April 27, 2020
Retail investors can’t seem to get enough of gold during the coronavirus crisis, and they are willing to pay staggering amounts to get their hands on it. Consumers who want to buy gold coins typically have to pay more than the per-ounce prices quoted on financial markets in London and New York.
→ Read more at
bloomberg.com
April 29, 2020
Our guest column this week is a report on a study done by accessibility consulting and assistive technology firm BarrierBreak on the new currency coins launched by the Reserve Bank of India that claim to be accessible to people with visual impairments.
→ Read more at
newzhook.com
April 29, 2020
Australia’s largest gold refinery has ramped up production of one kilogram bars to ease the supply squeeze in the U.S. that helped propel a surge in the premium for New York futures.
→ Read more at
finance.yahoo.com
May 1, 2020
With central banks spraying unprecedented amounts of printed money at the global economic system, it’s little wonder the gold price soared by 18% in the six weeks following the stockmarket meltdown. All the extra money sloshing around means the chances that consumer price inflation will take off and erode the value of your cash have risen sharply.
→ Read more at
moneyweek.com
Somewhere along the line, logic and reality have not reconciled the meme that cash is dead because everyone uses credit cards. Although there has been an increase in credit card usage because of the COVID-19 pandemic and quarantine orders, banks and retail outlets have been reporting a shortage of cash.
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