Precious Metals
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Mining Properties
Speculative Properties have definite indications of mineralization. But, funds and work are needed to determine if the property may be economically viable.
Dormant Properties have mineral deposits believed to be uneconomically viable at present. But, with higher metal prices or a new metallurgy innovation the property may have future potential.
Dead Properties can consist of older mines with exhausted ore reserves or without future potential, higher metal prices or not.
Pre-Development Properties have reserves based on preliminary drilling and are ready to undergo feasibility studies.
Development Properties have proven reserves and a tested metallurgical process for extracting the precious metals. A feasibility study supports the project's economic viability.
Producing Properties are doing just that.
The odds against a gold mining venture succeeding seem overwhelming. Numerous questions need to be answered and problems solved. Questionable mineral rights, metallurgical uncertainties, or environmental problems may be insurmountable. A smaller ore body in Nevada may have more profit potential than a much larger and richer ore body in a remote area of Canada or Alaska. And political uncertainties can impede the most promising foreign gold mining venture, but changing political climates are opening new opportunities.
The odds against even discovering a new gold deposit are formidable. In Canada and the United States, the odds of a possible discovery turning out to be an actual deposit are 150 to 1. The odds against that one deposit being profitable are 10 to 1.
Should I invest in a gold mining company? Is the financial reward worth the financial risk? It can be. During a hefty jump in precious metal prices, most gold mining stocks will increase substantially in value.
But, you don't need higher gold prices to be a big winner. The company you invest in may make a new or additional discovery, or another company makes a rich strike on a nearby property. You could realize profits of 10 or 20 times your original investment - or more.
The well-chosen exploration company can be your biggest winner; your investment increasing 100 times more than a similar investment in a larger gold-producing mining company.
Recent & Historical
Platinum Prices
Silver Prices
Gold Prices
Platinum Prices
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Gold - Silver - Platinum - Palladium
In 1933, President Franklin Roosevelt took away the American citizens' right to own gold.. He promised the gold would be returned. It wasn't. Two years later the United States' government discontinued the minting of U.S. silver dollars. Then, at the end of 1964, discontinued minting of 90 percent silver dimes, quarters and half-dollars. That was then.
It took more than 40 years, but, in 1974 the American citizen's right to own gold was won back. In 1985, President Reagan signed into public law the minting of legal tender gold and silver bullion coins. Americans can once more own gold coins and gold bullion. And once more the United States government is minting those coins.
Why own precious metal coins today? Legal tender gold and silver coins offer the investor the intangible benefits of owning an attractive article and the tangible benefits of a legal tender bullion coin. The coin's precious metal content increases in value with higher gold and silver prices. The coin's face value limits to some degree the amount of investment risk. And the limited edition of some coins add a potential rare coin value. During the complete collapse of a paper currency, gold and silver coins can be used to sustain one's day-to-day survival.
Some foreign gold and silver coins, like U.S. gold and silver coins, are universally recognized and easy to resell. Gold bullion coins include, but not limited to, U.S. Gold Eagle, the Canadian Maple Leaf, Australian Nugget, and the South African Krugerrand. All come in four gold weights: one ounce, half ounce, quarter ounce, and 10th ounce.
The Maple Leaf and Nugget are .999 pure, while the U.S. Gold Eagle and Krugerrand have some base metals added for greater hardness and durability. Although the weight and size may differ, the gold content is the same.
Bullion bars avialable to the individual investor include the popular 1 troy ounce, 10 ounce, and 100 ounce silver bars and the one gram to kilo sized gold bars.
To avoid possible assay costs and loss of instant liquidity, stick with well-known brand names. Each bar is stamped with its own registration number, purity, and weight. Names such as Credit Suisse, Johnson Matthey, A-Mark and Engelhard provide you with bars that are easy to buy and resell.
Platinum bars and coins provide investment opportunities for the individual investor in one of the rarest of precious metals. One troy ounce and 10 troy ounce platinum bars are now easily accessible to the individual investor. And the number of accessible government minted platinum coins is increasing. The coins are .9995 pure and come in one, half, quarter, and 10th ounce sizes.
How are precious metal prices set?
Prices are constantly changing, and trading in precious metals continues 24 hours a day, following the sun westward around the world. In the U.S., early morning and afternoon commodity prices are constantly updated by the New York and Chicago Commodity Exchanges. Most local dealer spot prices are provided through-out the rest of the day by major wholesalers - Engelhard Minerals and Metals, Handy and Harmon, and Mocatta Metals.
Prices respond to daily market conditions and each dealer's own supply and demand. Dealer retail prices for bullion bars and coins are based on the spot price, plus manufacturing and distribution costs, wholesalers risk, and retailers commission.
Gold and silver dealers range from small local coin dealers and large well established precious-metal brokers, to a few fly-by-night scam artists. If at all possible, do your trading with your local dealer on a cash basis. If it is a large order, and you must deal with an unfamiliar out-of-state broker, use a "sight draft" in conjunction with your local banker. "Sight draft" means what it says. The merchandise is shipped to your local bank and when your banker sees the coins or bars, the banker wires your funds to the dealer..
What counts when buying precious metal bars and coins? It is the total price you pay and receiving the merchandise, not "discount" commissions or a "hot deal" if you buy now.
In America the investment opportunities available
are varied and numerous. Unfortunately, so are the numbers of investment vehicles
with little or no possibility of making money for anyone other than the promoters.
Some investment programs begin legitimate then turn sour. Usually the
idea was dubious and the management inept. Many failed investment programs, however,
turn out to be frauds.
Individuals in positions of trust, unwilling to sacrifice
their high-life style, sacrifice their ethics for easy dollars. They get into personal
financial trouble and begin using their investors' funds for personal use. Others,
however, start out to be swindlers. And are good at it.
There is no typical
con-man or con-woman profile. You can't tell by their dress, looks, or personal demeanor.
They do have three things in common: they are crooks, they are convincing, they are
after your money.
And since they don't have to make good on their promises,
they promise or guarantee whatever it takes to persuade you to part with your money:
They promise low risk and large profits in a short time. They promise the advantage
of inside tips and information not available to less enlightened investors. And there
is always the urgency, the high-pressure too "act now" or lose out.
If an investment is good today it will be good tomorrow. Don't be rushed. It
is better to lose an opportunity now, than lose your money later. The only safe way
to double your money, is take the advice of Will Rodgers, "Fold your money over
once and put it in your pocket."
Monetary Theft
Government is the cause, not the answer
Since the 1980s, an insidious type of monetary theft has hidden in the public sector. More and more of each dollar we earn goes to taxes and bureaucratic edicts, leaving less and less purchasing power for consumer goods and services.
Government is the cause, not the answer. We must decrease government spending: city, state, and federal. And not only must we balance the federal budget, we must start paying off the debt.
Today, in the old Soviet Union, the people are still enslaved. Although living in an area rich in resources, the people remain enslaved by poverty and despair. More than 70 years of Marxism - government ownership and control of the economy - plunged the former Soviet Union into an inflationary depression. Yet, many of our politicians, both Democrat and Republican, still believe increased government involvement and management of the economy is the answer. They are unwilling to admit government is the problem not the answer.
I love the United States. Americans are the most generous people in the world. We give out of both our public and our private purse. And at our expense, we have built medical facilities around the world. We have given billions of dollars in food and in aid. We have sacrificed the best of our youth in the defense of others. We are not perfect. But we are generous and freedom loving, a result of our Judeo-Christian heritage.
America will survive. But to do more than just survive we must re-establish hope, a belief that the future holds promise. We cannot, however, rebuild the hope of America's impoverished and the future of our middle-class on the false promise of financial comfort without labor. America must, must experience a moral reawakening, the restoration of traditional Judeo-Christian values. Until then, America's woes will only escalate.
News headlines making wrong appear right only exacerbate our moral and economic decline. To survive the moral decline, the economic uncertainties, and the political rhetoric, you will need to distinguish the truth from the headlines. And you will need to become involved.
There are many areas of involvement available. Get politically involved. Becoming involved in the political process, however, means more than voting for a president. You can stuff envelopes or run for public office. You can replace a judge or help change a school board. You can help restore traditional values in the public as well as the private arena. You can influence the system. First, however, you must arm yourself with the knowledge needed to do so.- M.E. Odell __________________________________________________
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