#Gold Price per Ounce

[trbbullionltd]

The best Gold price per ounce in Canada

Are you looking for the latest updates on Gold price per ounce Canada? TRB Bullion is the place to go. Our website provides Canadian gold buyers with real-time pricing information so they can make informed investments. Our expert insights and reliable data keep you up-to-date on the latest trends in the gold market. Start exploring today!

[stockspredictor]

Gold Price: LIVE Gold Price Today , Gold Price per Ounce

Gold is a precious metal that is widely used in jewelry, currency, and other financial instruments. It is considered a safe haven asset, meaning that it is often seen as a stable and reliable investment in times of economic uncertainty. The price of gold is affected by a variety of factors, including supply and demand, interest rates, and geopolitical events.

To get the current price of gold, you can check LIVE Gold Price Today

It is important to note that the price of gold can vary depending on the form in which it is bought or sold (e.g. bars, coins, jewelry), and the purity of the gold.

[stupittmoran]

In 1929 the price of a troy ounce of gold was $20. There are 32.15 ozt per 1kg bar, so that equals $6,430 for 10kg of gold.

Today an ounce of gold is $2,344.90 per troy ounce. That equals $753,885.35 for 10kg of gold.

The average home price in the USA in 1929 was $4,902. So 10kg of gold would have gotten you nice size home.

The average home price in the USA today is $412,095. So 10kg of gold would get you a nice size home today as well.

Its not that gold has gone up in value, its that the dollar has lost 99.14% of its purchasing power since 1929 due to the printing and expansion of the currency supply.

Property values didn't go up by 840.67%, the dollar lost that much purchasing power 95 years.

~Citizens for Sound Money 💰

[formlines]

Sockeye Salmon Forever Postage Stamp 

Crystal Worl

from the website: Crystal Worl, co-founder of Trickster Company, is the artist of one of the four stamp designs featured on this stamp sheet.  Her stamp is the blue and indigo formline sockeye salmon.  Sheets are shipped in clear cello and sandwiched between two 50pt chipboards to minimize any bending.The bold artwork emblazoned on a skateboard deck is often as eye-catching and individualistic as a skater’s most breathtaking moves. These four stamps celebrate the Art of the Skateboard with vibrant designs that capture skateboarding’s excitement and reflect the diversity and influences of the four artists whose work is featured. On a pane containing five rows of four stamps, each skateboard appears once per row. Each subsequent row begins by repeating the last stamp from the previous row, creating a staggered arrangement of designs. Alaskan Crystal Worl reflects her Indigenous Tlingit/Athabascan heritage with a blue and indigo salmon rendered in formline, the striking curvilinear design style of the northern Northwest Coast. A bold graphic abstraction embellishes a deck by self-taught Virginia artist William James Taylor Junior. His skateboard features a design of red lines and curves against an orange background.

Arizona native and expert skateboarder Di’Orr Greenwood created a skateboard design with paint, artistic woodburning, and inlaid crushed turquoise. Her Navajo culture is further reflected on a deck featuring eagle feathers and a colorful burst in hues evoking a rising or setting sun. A black, white, and gold jaguar design is the work of muralist MasPaz (Federico Frum), a Colombian native raised in the Washington, D.C., area. The largest cat in the Americas, the jaguar symbolizes authority and power in the art and lore of Indigenous peoples. Art director Antonio Alcalá designed the stamps. The Art of Skateboards stamps are being issued as Forever® stamps. Forever stamps are always equal in value to the current First-Class Mail® one-ounce price.

Issue Date: March 24, 2023

[darkmaga-retard]

Chart of the Week #21

Lau Vegys

Sep 20, 2024

Gold's in the spotlight this week, and for good reason. The precious metal just broke its all-time high, while the Fed pivoted with a hefty 0.5% rate cut. Meanwhile, gold stocks are still trading at surprisingly low prices. With all these developments, gold is the perfect choice for our weekly feature.

Today's chart shows gold's price trajectory over the past 50 years since Nixon cut the dollar's last tie to gold in 1971 (which ended the Bretton Woods system set up after World War II).

Since 1971, when gold was priced at a modest $35 per ounce, its value has skyrocketed by over 6,700%, reaching a peak of over $2,500 just recently.

This extraordinary ascent shows why gold is still the go-to for keeping wealth safe and hedging against every crisis under the sun. From the Bretton Woods collapse to the Plaza Accord (where G-5 nations agreed to depreciate the U.S. dollar), from Black Monday to the Dot-com bubble pop, through the Global Financial Crisis and COVID-19, the yellow metal has stepped up to the plate every single time.

Gold occasionally tested our patience, sure. Yet, without fail, its gains proved the wait worthwhile.

So, what's next? The graph leaves us hanging with that tantalizing question.

At writing, gold is up an impressive 25% this year. It's among 2024's top-performing commodities. And regardless of any market fluctuations ahead, I'm convinced its ascent will continue…

[dertaglichedan]

Value of gold bar hits $1 million for first time ever

For the first time ever, a single gold bar is worth $1 million, thanks to a surge in prices.

Gold bars weighing 400 troy ounces hit the million-dollar mark after the price of the precious metal climbed above $2,500 per troy ounce. However, not all gold bars weigh 400 ounces.

The recent highs are a first for the precious metal.

[nicklloydnow]

“Depending on how we define the money supply—and I would define it very broadly as all claims to dollars at fixed par value—a rise in the gold price sufficient to bring the gold stock to 100 percent of total dollars would require a ten- to twentyfold increase. This of course would bring an enormous windfall gain to the gold miners, but this does not concern us. I do not believe that we should refuse an offer of a mass entry into Heaven simply because the manufacturers of harps and angels' wings would enjoy a windfall gain. But certainly a matter for genuine concern would be the enormous impetus such a change would give for several years to the mining of gold, as well as the disruption it would cause in the pattern of international trade.

Which course we take, or which particular blend of the two, is a matter for detailed study by economists. Obviously little or none of this needed study has been undertaken. I therefore do not propose here a detailed blueprint. I would like to see all of those who have become convinced of the need for a 100 percent gold standard join in such a study of the best path to take toward such a goal under present con-ditions. Broadly, the desired program may be summarized as follows:

1. Arrival of a 100 percent gold dollar, either by deflation of dollars to a gold stock valued at $35 per ounce, or by revaluation of the dollar at a "gold price" high enough to make the gold stock 100 percent of the present supply of dollars, or a blend of the two routes.

2. Getting the gold stock out of the hands of the government and into the hands of the banks and the people, with the concomitant liquidation of the Federal Reserve System, and a legal 100 percent requirement for all demand claims.

3. The transfer of all note-issue functions from the Treasury and the Federal Reserve to the private banks. All banks, in short, would be allowed to issue deposits or notes at the discretion of their clients.

4. Freeing silver bullion and its representative in silver certificates (which would now be issued by the banks) from any fixed value in gold. In short, silver ounces and their warehouse receipts would fluctuate, as do all other com-modities, on the market in terms of gold or dollars, thus giving us "parallel" gold and silver moneys, with gold dollars presumably remaining the chief money as the unit of account.

5. The eventual elimination of the term "dollar," using only terms of weight such as "gold gram" or "gold ounce." The ultimate goal would be the return to gold by every nation, at 100 percent of its particular currency, and the subsequent blending of all these national currencies into one unified world gold-gram unit. This was one of the considered goals at the abortive international monetary conferences of the late nineteenth century. In such a world, there would be no exchange rates except between gold and silver, for the national currency names would be abandoned for simple weights of gold, and all the world's money would at long last be freed from government intervention.

6. Free (but presumably not gratuitous) private coinage of gold and silver.

I must here differ with Professor Mises's and Henry Hazlitt's suggestion for return to the gold standard by first establishing a "free market" in gold by cutting the dollar completely loose from gold, and then seeing, after several years, what gold price the market would establish.45 In the first place, this would cut the last tenuous link that the dollar still has to gold and yield us a totally fiat money. Second, the market would hardly be a "free" one, since almost all the nation's gold would be sequestered in government hands. I think it important to move in the reverse direction. The Federal government, after all, seized the people's gold in 1933 under the guise of a temporary emergency. It is important, for moral and economic reasons, to permit the people to reclaim their gold as rapidly as possible. And since the gold is still held as hostage for our dollars, I believe that the official link and official convertibility between dollars and gold should be reestablished as soon as Congress can be so persuaded. And finally, since the dollar is merely a weight of gold, properly speaking, it is not at all appropriate to establish a "market" between dollars and gold, any more than there should be a "market" between one-dollar bills and five-dollar bills.

There is no gainsaying the fact that this suggested program will strike most people as impossibly "radical" and "unrealistic"; any suggestion for changing the status quo, no matter how slight, can always be considered by someone as too radical, so that the only thoroughgoing escape from the charge of impracticality is never to advocate any change whatever in existing conditions. But to take this approach is to abandon human reason, and to drift in animal- or plantlike manner with the tide of events. As Professor Philbrook pointed out in a brilliant article some years ago, we must frame our policy convictions on what we believe the best course to be and then try to convince others of this goal, and not include within our policy conclusions estimates of what other people may find acceptable. For someone must propagate the truth in society, as opposed to what is politically expedient. If scholars and intellectuals fail to do so, if they fail to expound their convictions of what they believe the correct course to be, they are abandoning truth, and therefore abandoning their very raison d'être. All hope of social progress would then be gone, for no new ideas would ever be advanced nor effort expended to convince others of their validity.” - Murray Rothbard, ‘The Case for a 100 Percent Gold Dollar’ (1974)

[trader-sg112]

Gold Prices Hold Near One-Month Highs Amid Fed Rate Cut Speculation: Market Insights and Analysis

In the dynamic world of commodities trading, gold prices have recently been a focal point, with bullion prices hovering close to one-month highs and nearing the pivotal $2,400 per ounce mark. This surge comes amidst mounting speculation that the Federal Reserve will embark on interest rate cuts as early as September, a move aimed at bolstering economic recovery amidst persistent global uncertainties.

Gold's Resilience in Current Market Dynamics

Spot gold, a reliable indicator of market sentiment, experienced a slight dip of 0.3% in Asian trading, settling at $2,384.47 per ounce. Similarly, August gold futures saw a marginal decrease of 0.2%, trading at $2,392.55 per ounce. Despite these minor corrections, the overall sentiment remains bullish, underpinned by investor optimism fueled by expectations of monetary easing by the Fed.

Broader Metals Market Movements

Alongside gold, other precious metals also displayed mixed movements. Platinum futures declined by 0.6% to $1,039.25 per ounce, reflecting varied investor sentiment within the sector. Silver futures followed suit with a 1% drop to $31.370 per ounce, illustrating divergent market dynamics in the precious metals arena.

Impact of Dollar Weakness on Metal Prices

A significant factor influencing these movements was the weakening of the US dollar, which hit a near one-month low. The inverse relationship between the dollar and commodity prices was evident as the dollar's depreciation bolstered demand for commodities priced in USD, including gold and silver.

Copper's Surprising Rally

Contrary to the downward trend in precious metals, copper futures on the London Metal Exchange surged by 1% to $9,983.0 per ton. This unexpected rally underscores copper's critical role as an industrial metal, influenced by global economic indicators and infrastructure developments.

Market Outlook and Strategic Considerations

Looking ahead, market participants are closely monitoring upcoming economic data releases and Federal Reserve announcements for further clues on interest rate adjustments. The prospect of lower interest rates typically supports non-interest-bearing assets like gold, enhancing its appeal as a safe-haven investment during uncertain economic times.

Stay Informed with Spectra Global Ltd

For comprehensive insights into market trends, strategic trading opportunities, and expert analysis on commodities and forex trading, visit Spectra Global Ltd. Our platform equips traders with the tools and information needed to navigate volatile markets effectively.

[thenewsart]

Bitcoin ‘showing more strength’ than Gold even as Gold hits all-time high: Bloomberg analyst

Share this article As the price of gold surged to an all-time high on Monday, breaking through the key $2,100 level, Bitcoin has rallied even more strongly, showing “more strength” than the precious metal, said Bloomberg Intelligence commodity strategist Mike McGlone today in an interview. Gold rallied as much as 3% to a record $2,135 per ounce, boosted by a decline in the US dollar and bets…

[papaspooks]

Getting Best Incentive For Your Gold

The price of gold is getting high step by step. On the off chance that you are hoping to sell your gold knowing the proper rate for it is significant. It is constantly suggested that clients ought to get their work done before selling their jewelry at cash for gold gatherings or in a neighborhood gold store. Numerous experts say that cash for gold gatherings are might be a good time for a consumer yet it is likewise a simple method for making some cash. In cash for gold gatherings might be you won't get the best arrangement. Here I am giving you a few tips to guarantee you that you are getting a right cash for gold. The main tip for getting best cash for gold is to comprehend the scale appropriately. The heaviness click here of gold determines its worth. Numerous jewelers in various nations utilize an alternate measurement standard which is known as Official ounce. In US gold is measured at 31.1 grams per ounce.

A few gold jewelers utilize a system of loads to measure a Troy once this system is know as pennyweight (dwt). A portion of the gold dealers use grams for weight of the gold. Regularly a pennyweight is equal to 1.5555 grams. Continuously check that gold dealers may not weight your gold by penny weight and pay you cash for gold by the grams. The subsequent tip before taking cash for gold is to be familiar with the Karats of your gold. Unadulterated gold is exceptionally delicate so it is joined with various metals to add strength and various varieties. In many States educating the client regarding the Karat of gold is significant. One Karat of gold is equals to 1/24 of best and unadulterated gold by weight. 14 karats of gold implies that your gold jewelry is comprises of 14 sections gold and 10 pieces of various metals.

On the off chance that the gold jewelry is under 10 karats, it is unlawful for jewelers to be named it as gold jewelry. You actually must know the karats of your gold to pursue wise choice on the worth of your gold. On the off chance that you have various karats of gold jewelry and you need to deal it than keep separate different Karat jewelry. Numerous jewelers will gauge your all jewelry together and than pay you cash for gold for the most minimal Karat esteem. Know about them. So it is really great for you to isolate your jewelry by Karat esteem before hitting up cash for gold party. Knowing the current price of gold before selling your gold for cash is additionally significant. You can really look at the current price of your gold through web, newspaper or by settling on a decision to your neighborhood jewelry store. It is additionally best for you to request the worth from your gold from three to four gold dealers. In many States it is fundamental for a gold buyer to ask Government gave distinguishing proof from sellers. Before selling your gold follow these tips they will help you.

[unfesant]

GOLD COINS - A GREAT ASSET

Gold coins that date back to a special time of history are an assortment of pride and doubtlessly a great investment. A portion of the notable gold coins are Belgium 20 francs (Leopold), France 20 francs (Napoleon III), and Germany 20 imprints (Wilhelm II), Great England Sovereign (Rulers), Netherlands 10 Guilders (Lord), a lot more like this. These assortments of gold coin have a resembling visit site here representative image of that time, ruler or sovereign and this as a matter of fact is the most intriguing piece of gold coin.

MONEY AND GOLD COIN

Indeed, even Reserve Banks of all nations keep gold coin and gold bars as type of money. So having gold coins is an asset since it is safest and the purest type of money. Gold has forever been considered as the top most mark of money framework. Also, this strategy of saving gold as the estimating bar for all money matters is pervasive from old times and go on till date. Thus, to finish up one can say that "gold coins won't ever blur". Gold coins never lose enchant. Buying gold coins coin is the best type of investment. Gold coin is the most elevated esteem coin and it is the most strong as financial exchange.

BUYING GOLD COIN BEST INVESTMENT OPTION

You get gold coin in very nearly a little price higher than the price of gold per ounce. A few times on the off chance that you can break a smart arrangement, you can buy gold coin at price of gold per ounce. However gold coins are not utilized for ordinary financial exchange, but rather still the market for gold coins can not the slightest bit be under assessed. Individuals who manage gold coins are craftsman disapproved and exclusive class. They are prepared to follow through on any cost to make it a piece of their assortment. Aside from this, gold coin is the purest type of gold, so in the event that you use it at a later stage to sell it or get it dissolved to make jewelry, you will make a wise investment move.

SELLING GOLD COIN

At the point when you intend to sell gold coin, one thing you should follow is persistence. Gold coin seller ought to quietly search for the right seller. Go for a dependable organization to get the best price. Gold coins are an asset and you ought to be very wary while resting to the right hands. These memorial gold coins are sold at a lot greater cost, for they are representative of a period of history as are priceless.

[laughinglikenialler]

Getting Best Value For Your Gold

The price of gold is getting high day by day. If you are looking to sell your gold it is important to know the appropriate rate for it. It is always recommended that customers should do their homework before selling their jewelry at cash for gold parties or in a local gold store. Many experts say that cash for gold parties are may be fun for a consumer but it is also an easy way to make some cash. In cash for gold parties may be you will not get the best deal. Here I am giving you some tips to ensure you that you are getting a right cash for gold. The first tip for getting best learn more cash for gold is to properly understand the scale. The weight of gold determines its value. Many jewelers in different countries use a different measurement standard which is known as Troy ounce. In United States gold is measured at 31.1 grams per ounce.

Some gold jewelers use a system of weights to measure a Troy once this system is know as pennyweight (dwt). Some of the gold dealers use grams for weight of the gold. Normally a pennyweight is equal to 1.5555 grams. Always check that gold dealers may not weight your gold by penny weight and pay you cash for gold by the grams. The second tip before taking cash for gold is to know about the Karats of your gold. Pure gold is very soft so it is combined with different metals to add durability and different colors. In many States it is important to tell the customer about the Karat of gold. One Karat of gold is equals to 1/24 of finest and pure gold by weight. 14 karats of gold means that your gold jewelry is consists of 14 parts gold and 10 parts of different metals.

If the gold jewelry is less than 10 karats then it is illegal for jewelers to be labeled it as gold jewelry. It is always important for you to know the karats of your gold to make wise decision on the value of your gold. If you have different karats of gold jewelry and you want to sale it than keep separate different Karat jewelry. Many jewelers will weigh your all jewelry together and than pay you cash for gold for the lowest Karat value. Be aware of them. So it is good for you to separate your jewelry by Karat value before going to cash for gold party. It is also important to know the current price of gold before selling your gold for cash. You can check the current price of your gold through internet,Getting Best Value For Your Gold Articles newspaper or by making a call to your local jewelry store. It is also best for you to ask the value of your gold from three to four gold dealers. In many States it is essential for a gold buyer to ask Government issued identification from sellers. Before selling your gold follow these tips they will help you.

[yosbruno]

GOLD COINS – A GREAT ASSET

Gold coins are not any simple gold coin; they are a rare piece of art and a collector’s pride. Gold coins click here to learn more are known as “collector’s item” and that is what makes it so special.

Gold coins that date back to a special period of history are a collection of pride and surely a great investment. Some of the well known gold coins are Belgium 20 francs (Leopold),GOLD COINS – A GREAT ASSET Articles France 20 francs (Napoleon III), and Germany 20 marks (Wilhelm II), Great Britain Sovereign (Kings), Netherlands 10 Guilders (King), many more like this. These varieties of gold coin have a resembling symbolic picture of that era, king or queen and this in fact is the most fascinating part of gold coin.

MONEY AND GOLD COIN  

Even Reserve Banks of all countries keep gold coin and gold bars as form of money. So having gold coins is an asset because it is safest and the purest form of money. Gold has always been considered as the top most point of money system. And this methodology of keeping gold as the measuring rod for all money matters is prevalent from ancient times and continues till date. So, to conclude one can say that “gold coins never fade”. Gold coins never lose charm. Buying gold coins coin is the best form of investment. Gold coin is the highest value coin and it is the most solid in the form of financial transaction.

BUYING GOLD COIN BEST INVESTMENT OPTION

You get gold coin in almost a little price higher than the price of gold per ounce. Some times if you are able to crack a clever deal then you can buy gold coin at price of gold per ounce. Though gold coins are not used for regular financial transaction, but still the market for gold coins can in no way be under estimated. People who deal with gold coins are artist minded and elite class. They are ready to pay any price to make it a part of their collection. Apart from this, gold coin is the purest form of gold, so if you use it at a later stage to sell it or get it melted to make jewelry, you will make a good investment move.

[taylorswartzn8r]

Gold in Your IRA? Read This First!

You can own precious metals in an IRA and broaden your financial resources while protecting them from taxation. Broadening and a tax cover are both beneficial things, as any gold merchant will be glad to call attention to. However, before you go after the telephone - or mouse - you ought to comprehend a couple of central issues that sometimes become mixed up in the fine print.

1. No Collectibles.

The tax code is tied in with encouraging useful investment, not reveling your adoration for baseball cards, money of the Roman Domain or whatever else you need loads of. Thus, collectible or numismatic currencies are out for IRA purposes. On the off chance that a currency's worth is to a great extent founded on its unique case, it turns into an illegal collectible. On the off chance that not, it's an IRA qualified product. Your specialist ought to have the option to let you know which coins are which.

2. Capacity in a Supported Depository

You can't cover your gold in the back yard. It should be put away with an endorsed, outsider depository. To do in any case comprises a circulation, which is a taxable occasion and nullifies the purpose of the whole exercise. Issue: If your reasoning for owning gold includes a breakdown-of-society situation, actual admittance to your metal may be an arrangement buster.

3. Expenses

Neither your gold representative nor the capacity depository works free of charge - likely. Hope to pay for a mix of record set up charge, exchange expense, yearly organization charge, capacity expense, "IRA" charge - or anything they decide to call it. The point isn't to be provided a minimal expense estimate on your metal just to lose your price advantage because of extreme charges. At the point when you shop, look at the metal price in addition to all charges.

4. Metal Price? - Isn't this about Gold?

The Taxpayer Help Demonstration of 1997 indicates that gold, silver, platinum and palladium are qualified for leaned toward IRA treatment for however long they are of reasonable fineness or virtue. That implies more scope for you in light of the fact that the price per ounce shifts extraordinarily among the precious metals. If you have any desire to begin with moderately economical silver and your intermediary doesn't deal with it - others do.

5. Should be a New Buy

You say you already have gold and you like to taxproof it? Apologies, the law expects that any bullion or coin be newly bought to qualify. The money utilized for the buy can be old - yet the metal should be new to you.

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Tips To Purchasing Silver And Gold

Here is some extraordinary information that will morose help you when you are searching at the best silver cost per ounce and the most ideal ways to purchase silver.

Tragically the vast majority don't pause and investigate as needs be prior to purchasing gold and silver bullion. Congratulations to you for being adequately shrewd to learn some significant information prior to pulling the purchasing trigger. This information will in all likelihood save you money while purchasing metals.

At the point when you are attempting to figure out how to purchase gold and silver understand this. Like stock representatives, gold and silver specialists and vendors possibly create a gain when you trade. At the point when you are holding... they are not making anything off of you.

Along these lines, a few specialists will call you and endeavor to utilize tension and influence to inspire you to sell or purchase during various market swings. They call this stirring.

Indeed, assuming you are both fortunate and great, you can do pretty well with the market timing exchanging strategy. However, I can guarantee you that a many individuals who play this game get their head given to them while endeavoring to exchange the metals market. This is significant stuff here.

Indeed, even the most experienced master merchants who have done this expertly for quite a long time frequently fail to understand the situation. The chances of a non-proficient taking care of business, on a predictable premise, are really thin.

Generally gold and silver purchasers, people who purchase the actual metals, plan to clutch them for essentially a midterm time period of quite a long while or more. Assuming that that accommodates your reasoning, here is a tip that will help you have a decent personal satisfaction. Assuming that you are keen on exchanging the metals markets and attempting to expect price moves and headings, it would be greatly improved to put resources into Exchange Exchanged Assets (ETFs), like SLV, GLD, and so on. You can get them as simple as purchasing a stock and effectively exchange and out of them.

At the point when you are managing actual valuable metals, on the off chance that you intend to purchase metals, be ready for certain issues. Most dealers wind up delivery the metals to the purchaser to get better repurchase prices. The vender needs to take care of them, safeguard and boat them, and sit tight for them to show up at the purchasers area before a price can be locked in. Most financial backers who purchase actual metals hold them for good periods of time.

[disturbingelephanteyes]

A Couple of Words about Gold

Gold. The "barbarous artifact." The word has secret and summons a long history of experience, from the Roman times to the establishing of the New World to the demolition of huge quantities of individuals and lifestyles. There is power in it. On the off chance that you haven't at any point seen or held a gold coin, you should. It's not difficult to do. Any coin shop will have them, and individuals behind the learn more counter will energetically take advantage of the chance to allow you to hold one.

Hold a one-ounce coin. It's conservative, delightful. Weighty. Strong. A gold coin feels entirely different in the palm than the coins we see each day, which are a lot lighter. They are made from a lot less expensive metals.

Whenever I first at any point saw a gold coin as a grown-up was in 1998. It was an Austrian "Philharmonic." That is a gold coin stamped by Austria with an etching of the philharmonic ensemble on the back of the coin. Mine was stamped in 1908, and it was in lovely condition. A masterpiece. Such a coin was considered "bullion" and that implies it had no "numismatic" or "extraordinariness" value. It was priced essentially as gold, and gold was valued at $275 per ounce. The coin was dig for $300.00. It now costs substantially more.

Try not to get sucked into a discussion about whether gold has "inborn" value. Gold has specific industrial uses and a few characteristics not quite the same as different metals, yet it gets its value just from the way that individuals have for a long time wanted it. It's adequately uncommon to battle for, however normal enough for everybody to know what it is. Individuals have for practically forever wanted it, and they'll probably keep wanting it, and thus it satisfies every one of the prerequisites of money. Whether it is, truth be told, "money" is a well established contention, however the inquiry is scholarly. Gold will without a doubt hold its value and gain against any country's cash for a really long time.

You might say the "inverse" of gold is "government issued currency." In the U.S., government issued currency is central bank notes, for the most part (however maybe incorrectly) called "dollars." At one at once was a unit of money characterized in gold or silver; now it exists all alone. Central bank notes get all their value from the order of the government that they will be used to pay all obligations, public and private. Government issued money can be printed voluntarily and at basically no expense by the government. Thus government issued currency holds its value, if by any means, based on the government's refusal to print more money. Because governments seldom oppose the drive to print and spend, gold additions in value against government issued money for a really long time.