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Scientists Find Rare Gold Coin

August 24, 2010 by  

Scientists find rare gold coin Certain wealth management experts have recommended that Americans buy precious metals to protect their assets against inflation. While this immediate financial incentive may be enough to persuade many to convert their weakening dollars to gold, there are other reasons to consider this move.

Coins and other objects fashioned from precious metals such as gold and silver are extremely durable, and over time some of them may increase in value beyond what these metals may cost at any given time. That happens if they acquire a collector status or become unique or rare for another reason.

For example, American scientists working in Israel have found what is bound to be extremely valuable, namely a rare gold coin estimated to be some 2,200 years old, according to media reports.

"This is an amazing numismatic find," said Donald T. Ariel, head of the Coin Department of the Israel Antiquities Authority, of the one-ounce coin minted in Egypt by Ptolemy V in 191 B.C.

"The coin is beautiful and in excellent preservation. It is the heaviest gold coin with the highest contemporary value of any coin ever found in an excavation in Israel," he added, quoted by CNN.

Meanwhile, in the United States, gold prices have been increasing, and gold bullion is currently trading at $1,235 an ounce.ADNFCR-1961-ID-19928293-ADNFCR

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  • Al Sieber

    Good thing that coin wasn’t found here, they would of either confiscated it, or taxed the hell out of you. they always find a way to separate you from your money.

  • James

    Old gold coins, in a depression and hard times, would only be worth their gold content. Back in 1933, President FDR outlawed possession of gold because people were taking their money out of banks to buy it, and banks were failing. He gave people $25 per ounce for their gold, then raised the price of gold to $35 per ounce, which devalued the dollar by 40%. President Obama will do the same, FDR is his hero. A better place for your money would be in gold mining stocks.

    • 45caliber

      You are partly right.

      At that time the banks were required to keep as much gold in their vault as they had bills and loans out. The bankers learned that they could sell that gold in Europe for many times as much money as they had covered.

      When people learned that the gold wasn’t there to cover their money, they made a run on the banks, insisting that the banks give them gold for their bills.

      FDR comes from a family who majored in banking – and they were some of those who were selling the gold they were supposed to keep. So he passed the law banning ownership of gold to keep his family from going bankrupt.

  • Al Sieber

    James, people weren’t taking their money out of the bank to buy gold, we were already backed by gold. they stole the gold from us by confiscation, and paying us $20.65 per oz. and raising the price to $35.00 a oz. 6 months later. Obama’s doing the same thing, it’s in the health care bill. it has to do with gold coins.

    • 45caliber

      Al, care to bet on how much gold remains in Fort Knox? My guess is ZERO.

      • marxbites

        45-

        Under RWR’s Gold Commission it was determined that all the people’s gold is now owned by the FED as fractional collateral for the debt that dwarfs it.

        The banksters have stolen by force the world’s people’s gold in exchange for the Reichmark style fiat.

        Dale-

        FDR was told he had communists in his cabinet and WH – he replied “spme of my best friends are communists”!

        FDR, Churchill, Stalin, Hitler & Mussolini were the fascist mutual admiration society of dictators of their era. Each sympathetic to the problems of the others.

      • http://danielsvisions.com Donald Ludgate

        I believe it is pretty full but the gold is owned by the vatican not the American people or the “Federal Reserve Board” composed of 125 rich folk like the Clintons, George W.Bush and father, probably George Soros, Obama, Gore, the Rockefeller families, the Kennedys, Senator Karry, Kissinger and Ginrich to name a partial listing.

  • Dale on left coast

    And James . . . FDR was a dirtbag . . . a progressive and closet communist . . . FDR was the reason half of Europe became part of the Evil Empire, unlike Churchill who called it like it was . . . FDR was sympathetic to the red menace.

  • jopa

    Typical article by a gold salesman and the next will try to sell you some snake oil.Want to buy a bridge???

    • CJ

      Jopa, when it all hits the fan, you’ll be the one begging for help, and nothing to offer in return. If we do come to that day, I wish you all the luck in getting it. I, for one, won’t be offering it to those who failed to prepare. Consider yourself warned.

      • 45caliber

        Keep in mind that if there is a total disaster, gold is useless. It is a soft metal that can’t be eaten or used as a tool. The best items then will be bullets, medication, and food.

        • Al Sieber

          45, for every gram of gold I have, I have 20 grams of lead to back it up.

    • James

      Jopa, All paper currencies were at one time backed by gold or silver. Our early paper dollars stated on their face that they were redeemable in gold or silver. Our old St. Gaudens $20 gold coin had about an ounce of gold in it, but now, gold is $1230/oz. That shows how much our dollar has depreciated, the amount of gold in the world stays pretty proportional to the number of people. The whole idea of backing paper currency with a precious metal was to prevent governments from printing up whatever amount they want and inflating their currency out of existence, which precisely is what our government is now doing.

  • jopa

    CJ; I do’nt stand in front of fans they give me a kink in the neck.I have done quite well and really do’nt forsee a need to be a beggar like you but if you need help give me a call and I will be glad to oblige.Just a differance of up-bringing.

  • JC

    Gold coins are fine, but I prefer silver for its negotiability.
    It’s easier to barter with than gold because it holds a lower value.
    And to protect that investment, I recommend another precious metal…lead!

    • 45caliber

      I expect lead to hold the greater value in such a disaster.

      • JC

        That makes two of us.

  • Norman

    It’s funny how more gold is uncovered each and every time gold is poised to go higher. Is the gold price being manipulated? Dumb question huh?

    • Al Sieber

      No, Norman, you’re right; it is. gold is undervalued, it should be around $2500. a oz. to be equal with todays inflation. watch for gold to go lower this week, then up.

    • James

      Norman, it has to do with the cost-per-ounce of production. If a mine’s gold ore is a low grade, and the cost-per-ounce to refine it is higher than the going price of gold, production is halted. In the last year we have seen the price of gold go up 33%, that allowed some low-grade-ore mines to resume production. It also means the dollar lost a third of its value. Right now the stock markets are poised to tumble, and gold could easily go to $1500/oz. Gold and silver move in opposition to stocks.

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